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9. Segment Information
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
9. Segment Information

Aemetis recognizes two reportable geographic segments: “North America” and “India.” The “North America” operating segment includes the Keyes Plant, the Riverbank Cellulosic Ethanol Facility, the Biogas Project, the Goodland Plant and the research and development facility in Minnesota.

 

The “India” operating segment includes the 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 months ended March 31, 2020 and 2019 follows:

 

    Three months ended March 31, 2020     Three months ended March 31, 2019  
    North America     India     Total Consolidated     North America     India     Total Consolidated  
                                     
Revenues   $ 35,872       3,608       39,480       36,636       5,252     $ 41,888  
Cost of goods sold     36,413       3,500       39,913       36,967       5,272       42,239  
                                                 
Gross profit (loss)     (541 )     108       (433 )     (331 )     (20 )     (351 )
                                                 
Other Expenses                                                
Research and development expenses     117       -       117       33       -       33  
Selling, general and administrative expenses     3,120       816       3,936       4,066       175       4,241  
Interest expense     6,857       19       6,876       6,042       167       6,209  
Accretion of Series A preferred units     960       -       960       449       -       449  
Other (income) expense     (53 )     (10 )     (63 )     111       (734 )     (623 )
                                                 
Income (loss) before income taxes   $ (11,542 )   $ (717 )   $ (12,259 )     (11,032 )     372     $ (10,660 )
                                                 
Capital expenditures   $ 1,298     $ 1,074     $ 2,372       351       247     $ 598  
Depreciation     933       157       1,090       994       144       1,138  
                                                 
Total Assets   $ 89,322     $ 14,493     $ 103,815       82,990       16,906     $ 99,896  

 

North America. During the three months ended March 31, 2020 and 2019, the Company’s revenues from ethanol, WDG, and DCO were made pursuant to the J.D. Heiskell Procurement Agreement established between the Company and J.D. Heiskell. Sales of ethanol, WDG, and DCO to J.D. Heiskell accounted for 93.4% and 99.9% of the Company’s North America segment revenues for the three months ended March 31, 2020 and 2019.

 

India. During the three months ended March 31, 2020, two customers in biodiesel accounted for 32% and 18% of the Company’s consolidated India segment revenues. One of the PFAD customers accounted for 18% of the Company’s consolidated India segment revenues and none of the refined glycerin customers accounted for the Company’s consolidated India segment revenues. During the three months ended March 31, 2019, one customer in biodiesel accounted for 45% of the Company’s consolidated India segment revenues. None of the refined glycerin customers accounted for 10% of the Company’s consolidated India segment revenues.