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10. Segment Information

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

10. Segment Information

Aemetis recognizes two reportable geographic segments: “North America” and “India.” The “North America” operating segment includes the Keyes Plant in Keyes, the cellulosic ethanol facility in Riverbank, the cluster of biogas digesters on dairies near the Keyes Plant, the Goodland Plant in Kansas, and the research and development facility in Minnesota.

The “India” operating segment includes the Company’s 50 million gallon per year nameplate capacity biodiesel manufacturing plant (“Kakinada Plant”), 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, 2019 and 2018 follows:

		Three months ended June 30, 2019												Three months ended June 30, 2018
		North America				India				Total Consolidated				North America				India				Total Consolidated

Revenues		$	39,486			$	11,133			$	50,619			$	39,628			$	5,400			$	45,028
Cost of goods sold			38,483				8,863				47,346				37,079				5,181				42,260

Gross profit			1,003				2,270				3,273				2,549				219				2,768

Other Expenses
Research and development expenses			90				-				90				55				-				55
Selling, general and administrative expenses			3,190				755				3,945				3,420				169				3,589
Interest expense			6,470				116				6,586				5,199				152				5,351
Accretion of Series A preferred units			471				-				471				-				-				-
Loss contingency on litigation			6,200				-				6,200				-				-				-
Other income			(74	)			(15	)			(89	)			(2	)			(3	)			(5	)

Income (loss) before income taxes		$	(15,344	)		$	1,414			$	(13,930	)		$	(6,123	)		$	(99	)		$	(6,222	)

Capital expenditures		$	234			$	206			$	440			$	567			$	208			$	775
Depreciation			947				149				1,096				992				157				1,149

		For the six months ended June 30, 2019												For the six months ended June 30, 2018
		North America				India				Total Consolidated				North America				India				Total Consolidated

Revenues		$	76,122			$	16,385			$	92,507			$	76,804			$	11,242			$	88,046
Cost of goods sold			75,450				14,135				89,585				73,061				10,351				83,412

Gross profit			672				2,250				2,922				3,743				891				4,634

Other Expenses
Research and development expenses			123				-				123				117				-				117
Selling, general and administrative expenses			7,256				930				8,186				6,935				461				7,396
Interest expense			12,512				283				12,795				14,083				296				14,379
Accretion of Series A preferred units			920				-				920				-				-				-
Loss contingency on litigation			6,200				-				6,200				-				-				-
Other expense (income)			37				(749	)			(712	)			43				20				63

Income (loss) before income taxes		$	(26,376	)			1,786				(24,590	)		$	(17,435	)			114				(17,321	)

Capital expenditures		$	585			$	453			$	1,038			$	1,057			$	714			$	1,771
Depreciation			1,941				293				2,234				1,984				315				2,299

North America: During the three and six months ended June 30, 2019, 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 99.8% and 99.9% of the Company’s North America segment revenues for the three and six months ended June 30, 2019, respectively.

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.

India. During the three months ended June 30, 2019, three biodiesel customers accounted for 29%, 24% and 20% of the Company’s consolidated India segment revenues while none of the refined glycerin customers accounted for more than 10%, compared to two biodiesel customers accounting for 46% and 10% of the Company’s consolidated India segment revenues and one refined glycerin customer accounting for 11% of such revenues during the three months ended June 30, 2018.

During the six months ended June 30, 2019, three biodiesel customers accounted for 35%, 16% and 13% of the Company’s consolidated India segment revenues while none of the refined glycerin customers accounted for more than 10% of such revenues, compared to two biodiesel customers accounting for 54% and 11% of the Company’s consolidated India segment revenues and none of the refined glycerin customers accounting for more than 10% of such revenues during the six months ended June 30, 2018.

Total assets by segment consist of the following:

		As of
		June 30,				December 31,
		2019				2018

North America		$	77,408			$	78,149
India			14,927				13,672
Total Assets		$	92,335			$	91,821