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Operating Segments | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Operating Segments | Operating Segments As discussed in Note 1, the Company established a new reportable segment structure as a result of the Merger and prior periods have been revised to reflect the new operating segments. At September 30, 2021, the Company had three segments: Distillery Products, Branded Spirits, and Ingredient Solutions. The Distillery Products segment consists of food grade alcohol and distillery co-products, such as distillers feed (commonly called dried distillers grain in the industry) and fuel grade alcohol. The Distillery Products segment also includes warehouse services, including barrel put away, storage, retrieval, and blending services. The Branded Spirits segment consists of producing, importing, bottling and rectifying of distilled spirits. Ingredient Solutions segment consists of specialty starches and proteins and commodity starches and proteins. Operating profit for each segment is based on sales less identifiable operating expenses. Non-direct selling, general and administrative expenses, interest expense, other special charges, and other general miscellaneous expenses are excluded from segment operations and are classified as Corporate. Receivables, inventories, property, plant and equipment, leases, goodwill and intangible assets have been identified with the segments to which they relate. All other assets are considered as Corporate.
|  | Quarter Ended September 30, |  | Year to Date Ended September 30,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Sales to Customers |  |  |  |  |  |  |  |
Distillery Products |  | $ | 91,044 |  |  | $ | 79,173 |  |  | $ | 270,016 |  |  | $ | 233,492 |
Branded Spirits |  | 61,561 |  |  | 2,449 |  |  | 122,557 |  |  | 3,321 |
Ingredient Solutions |  | 24,006 |  |  | 21,342 |  |  | 67,300 |  |  | 57,793 |
Total |  | $ | 176,611 |  |  | $ | 102,964 |  |  | $ | 459,873 |  |  | $ | 294,606 |
Gross Profit |  |  |  |  |  |  |  |
Distillery Products |  | $ | 26,981 |  |  | $ | 15,918 |  |  | $ | 87,211 |  |  | $ | 49,832 |
Branded Spirits |  | 23,217 |  |  | 1,389 |  |  | 41,737 |  |  | 1,727 |
Ingredient Solutions |  | 6,888 |  |  | 5,855 |  |  | 17,264 |  |  | 15,516 |
Total |  | $ | 57,086 |  |  | $ | 23,162 |  |  | $ | 146,212 |  |  | $ | 67,075 |
Depreciation and Amortization |  |  |  |  |  |  |  |
Distillery Products |  | $ | 2,695 |  |  | $ | 2,461 |  |  | $ | 7,900 |  |  | $ | 7,269 |
Branded Spirits |  | 1,743 |  |  | 30 |  |  | 3,481 |  |  | 70 |
Ingredient Solutions |  | 531 |  |  | 480 |  |  | 1,487 |  |  | 1,402 |
Corporate |  | 274 |  |  | 303 |  |  | 800 |  |  | 877 |
Total |  | $ | 5,243 |  |  | $ | 3,274 |  |  | $ | 13,668 |  |  | $ | 9,618 |
Income (loss) before Income Taxes |  |  |  |  |  |  |  |
Distillery Products |  | $ | 26,047 |  |  | $ | 15,471 |  |  | $ | 84,225 |  |  | $ | 48,203 |
Branded Spirits |  | 9,293 |  |  | 236 |  |  | 15,182 |  |  | $ | (1,829) |
Ingredient Solutions |  | 6,214 |  |  | 5,191 |  |  | 15,121 |  |  | 13,504 |
Corporate |  | (10,207) |  |  | (7,655) |  |  | (36,668) |  |  | (22,529) |
Total |  | $ | 31,347 |  |  | $ | 13,243 |  |  | $ | 77,860 |  |  | $ | 37,349 |
The following table allocates assets to each segment as of:
|  | September 30, 2021 |  | December 31, 2020
Identifiable Assets |  |  |  |
Distillery Products |  | $ | 299,017 |  |  | $ | 281,721 |
Branded Spirits |  | 652,543 |  |  | 6,348 |
Ingredient Solutions |  | 44,494 |  |  | 41,276 |
Corporate |  | 21,414 |  |  | 37,230 |
Total |  | $ | 1,017,468 |  |  | $ | 366,575 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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