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Operating Segments
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Operating Segments Operating Segments
At September 30, 2024, the Company had three segments: Distilling Solutions, Branded Spirits, and Ingredient Solutions. The Company’s reportable segments are based on the financial information the chief operating decision maker, the Company’s Chief Executive Officer, uses to allocate resources and evaluate performance of the business. The Distilling Solutions segment consists of food grade alcohol (primarily brown goods) and distillery co-products, such as distillers feed (commonly called dried distillers grain in the industry). The Distilling Solutions segment also includes warehouse services, such as barrel put away, barrel storage, and barrel retrieval services. The Branded Spirits segment consists of a portfolio of high quality branded spirits which are produced through the distilleries and bottling facilities. The Ingredient Solutions segment consists of specialty starches and proteins as well as commodity starches and proteins. Intersegment sales and transfers are recorded at cost and are treated as a transfer of inventory. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance.

Operating profit for each segment is based on sales less identifiable operating expenses.  Non-direct selling, general, and administrative expenses, interest expense, 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.
The following table presents summarized financial information for each segment:

Quarter Ended September 30,Year to Date Ended September 30,
2024202320242023
Sales to Customers
Distilling Solutions$71,919 $111,853 $250,159 $341,941 
Branded Spirits62,624 66,819 176,811 181,318 
Ingredient Solutions26,918 32,952 95,859 98,376 
Total$161,461 $211,624 $522,829 $621,635 
Gross Profit
Distilling Solutions$28,644 $33,280 $105,200 $104,986 
Branded Spirits32,446 29,040 88,611 79,636 
Ingredient Solutions4,725 11,128 18,031 34,945 
Total$65,815 $73,448 $211,842 $219,567 
Depreciation and Amortization
Distilling Solutions$1,975 $3,082 $5,900 $8,803 
Branded Spirits2,192 1,914 5,867 5,063 
Ingredient Solutions1,178 619 3,517 1,899 
Corporate335 167 1,014 507 
Total$5,680 $5,782 $16,298 $16,272 
Income (loss) before Income Taxes
Distilling Solutions$27,631 $13,930 $102,228 $84,187 
Branded Spirits7,391 7,199 15,534 25,577 
Ingredient Solutions3,277 9,408 13,781 30,255 
Corporate(6,883)(13,076)(31,156)(39,103)
Total$31,416 $17,461 $100,387 $100,916 

The following table allocates assets to each segment as of:
September 30, 2024December 31, 2023
Identifiable Assets
Distilling Solutions$361,553 $369,241 
Branded Spirits921,572 910,633 
Ingredient Solutions120,903 88,846 
Corporate36,591 23,628 
Total$1,440,619 $1,392,348