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8. Segment Information

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

8. Segment Information

Aemetis recognizes two reportable geographic segments: “North America” and “India.” The “North America” operating segment includes the Company’s owned ethanol plant in Keyes, California and its technology research and development lab. As the Company’s technology gains market acceptance, this business segment will initially include its domestic commercial application of cellulosic ethanol technology, its plant construction projects and any acquisitions of ethanol or ethanol related technology facilities in North America.

The “India” operating segment includes the Company’s 50 million gallon per year nameplate capacity biodiesel manufacturing plant in Kakinada, the administrative offices in Hyderabad, India, and the holding companies in Nevada and Mauritius. The Company’s biodiesel is marketed and sold primarily to customers in India through brokers and by the Company directly.

Summarized financial information by reportable segment for the three and six months ended June 30, 2018 and 2017 follows:

		Three months ended June 30, 2018												Six months ended June 30, 2018
		North America				India				Total Consolidated				North America				India				Total Consolidated

Revenues		$	39,628			$	5,400			$	45,028			$	76,804			$	11,242			$	88,046
Cost of goods sold			37,079				5,181				42,260				73,061				10,351				83,412

Gross profit			2,549				219				2,768				3,743				891				4,634

Expenses
Research and development expenses			55				-				55				117				-				117
Selling, general and administrative expenses			3,420				169				3,589				6,935				461				7,396
Interest expense			5,199				152				5,351				14,083				296				14,379
Other expense (income)			(2	)			(3	)			(5	)			43				20				63

Income (loss) before income taxes		$	(6,123	)		$	(99	)		$	(6,222	)		$	(17,435	)			114				(17,321	)

Capital expenditures		$	567			$	208			$	775			$	1,057			$	714			$	1,771
Depreciation			992				157				1,149				1,984				315				2,299

		Three months ended June 30, 2017												Six months ended June 30, 2017
		North America				India				Total Consolidated				North America				India				Total Consolidated

Revenues		$	35,465			$	5,299			$	40,764			$	65,418			$	6,920			$	72,338
Cost of goods sold			34,359				4,700				39,059				65,008				6,212				71,220

Gross profit			1,106				599				1,705				410				708				1,118

Expenses
Research and development expenses			110				-				110				196				-				196
Selling, general and administrative expenses			2,867				395				3,262				5,891				666				6,557
Interest expense			4,271				57				4,328				8,828				25				8,853
Other expense (income)			(11	)			3				(8	)			38				(18	)			20

Income (loss) before income taxes		$	(6,131	)		$	144			$	(5,987	)		$	(14,543	)			35				(14,508	)

Capital expenditures		$	340			$	127			$	467			$	383			$	128			$	511
Depreciation			997				155				1,152				1,995				303				2,298

North America: During the three and six months ended June 30, 2018, the Company’s revenues from ethanol, WDG, and corn oil were made pursuant to the Corn Procurement and Working Capital Agreement established between the Company and J.D. Heiskell. Sales of ethanol, WDG, and corn oil to J.D. Heiskell accounted for 99.7% of the Company’s North America segment revenues for both the three and six months ended June 30, 2018.

During the three and six months ended June 30, 2017, the Company’s revenues from ethanol, WDG, and corn oil were made pursuant to the Corn Procurement and Working Capital Agreement established between the Company and J.D. Heiskell. Sales of ethanol, WDG, and corn oil to J.D. Heiskell accounted for 99.6% of the Company’s North America segment revenues for the three and six months ended June 30, 2017, respectively.

India. During the three months ended June 30, 2018, two biodiesel customers accounted for 46% and 10% and one refined glycerin customer accounted for 11% of the Company’s consolidated India segment revenues, compared to two biodiesel customers accounting for 57% and 17% and no refined glycerin customers accounting for more than 10% of the Company’s consolidated India segment revenues in the three months ended June 30, 2017.

During the six months ended June 30, 2018, two biodiesel customers accounted for 54% and 11% and no refined glycerin customers accounted for more than 10% of the Company’s consolidated India segment revenues, compared to two biodiesel customers accounting for 54% and 13% and no refined glycerin customers accounting for more than 10% of the Company’s consolidated India segment revenues during the six months ended June 30, 2017.

Total assets by segment consist of the following:

		As of
		June 30,				December 31,
		2018				2017

North America		$	78,854			$	80,479
India			14,274				13,852
Total Assets		$	93,128			$	94,331