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8. Segment Information

9 Months Ended

Sep. 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, Goodland plant, Kansas 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 nine months ended September 30, 2018 and 2017 follows:

		Three months ended September 30, 2018												Three months ended September 30, 2017
		North America				India				Total Consolidated				North America				India				Total Consolidated

Revenues		$	38,576			$	6,059			$	44,635			$	36,012			$	2,923			$	38,935
Cost of goods sold			36,147				5,820				41,967				33,995				2,985				36,980

Gross profit (loss)			2,429				239				2,668				2,017				(62	)			1,955

Expenses
Research and development expenses			74				-				74				1,876				-				1,876
Selling, general and administrative expenses			3,645				248				3,893				2,941				241				3,182
Interest expense			5,261				150				5,411				4,978				154				5,132
Other expense (income)			(55	)			(6	)			(61	)			-5				(13	)			(18	)

Loss before income taxes		$	(6,496	)		$	(153	)		$	(6,649	)		$	(7,773	)		$	(444	)		$	(8,217	)

Capital expenditures		$	703			$	24			$	727			$	65			$	105			$	170
Depreciation			992				166				1,158				1,014				159				1,173

		Nine months ended September 30, 2018												Nine months ended September 30, 2017
		North America				India				Total Consolidated				North America				India				Total Consolidated

Revenues		$	115,380			$	17,301			$	132,681			$	101,430			$	9,843			$	111,273
Cost of goods sold			109,208				16,171				125,379				99,003				9,197				108,200

Gross profit			6,172				1,130				7,302				2,427				646				3,073

Expenses
Research and development expenses			191				-				191				2,072				-				2,072
Selling, general and administrative expenses			10,580				709				11,289				8,832				907				9,739
Interest rate expense			19,344				446				19,790				13,806				179				13,985
Other expense			(12	)			14				2				33				(31	)			2

Loss before income taxes		$	(23,931	)			(39	)			(23,970	)		$	(22,316	)			(409	)			(22,725	)

Capital expenditures		$	1,760			$	738			$	2,498			$	448			$	233			$	681
Depreciation			2,976				481				3,457				3,009				462				3,471

North America. During the three and nine months ended September 30, 2018, the Company’s revenues from ethanol, WDG, and corn oil were earned 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 99.8% and 99.6% of the Company’s North America segment revenues for the three and nine months ended September 30, 2018, respectively.

During the three and nine months ended September 30, 2017, the Company’s revenues from ethanol, WDG, and corn oil were earned 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 99.9% and 99.9% of the Company’s North America segment revenues for the three and nine months ended September 30, 2017, respectively.

India. During the three months ended September 30, 2018, two biodiesel customers accounted for 57% and 18% and no refined glycerin customers accounted for more than 10% of consolidated India segment revenues, compared to three biodiesel customers accounted for 41%, 29%, and 13% and no refined glycerin customers accounted for more than 10% of consolidated India segment revenues during the three months ended September 30, 2017.

During the nine months ended September 30, 2018, two biodiesel customers accounted for 55% and 13% and no refined glycerin customers accounted for more than 10% of consolidated India segment revenues, compared to two biodiesel customers accounted for 47% and 12% and no refined glycerin customers accounted for more than 10% of consolidated India segment revenues during the nine months ended September 30, 2017.

Total assets consist of the following:

		As of
		September 30,				December 31,
		2018				2017

North America		$	77,172			$	80,479
India			14,558				13,852
Total Assets		$	91,730			$	94,331