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12. Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
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 Keyes, California, the Goodland Plant, 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 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 years ended December 31, 2020 and 2019 follow:

 

    For the year ended December 31, 2020     For the year ended December 31, 2019  
    North America     India     Total Consolidated     North America     India     Total Consolidated  
                                     
Revenues   $ 149,762     $ 15,795     $ 165,557     $ 154,148     $ 47,850     $ 201,998  
Cost of goods sold     140,339       14,193       154,532       150,197       39,103       189,300  
                                                 
Gross profit     9,423       1,602       11,025       3,951       8,747       12,698  
                                                 
Other Expenses                                                
Research and development expenses     213       -       213       205       -       205  
Selling, general and administrative expenses     15,150       1,732       16,882       13,279       4,145       17,424  
Interest expense     26,306       38       26,344       25,404       351       25,755  
Accretion of Series A preferred units     4,673       -       4,673       2,257       -       2,257  
Loss contingency on litigation     -       -       -       6,200       -       6,200  
Other expense (income)     577       (29 )     548       25       (822 )     (797 )
                                                 
Income (loss) before income taxes   $ (37,496 )   $ (139 )   $ (37,635 )   $ (43,419 )   $ 5,073     $ (38,346 )
                                                 
Capital expenditures   $ 17,969       1,371       19,340     $ 7,519     $ 1,059     $ 8,578  
Depreciation     4,233       661       4,894       3,822       612       4,434  

  

Total assets by segment are as follows:

 

    As of  
    December 31,     December 31,  
    2020     2019  
             
North America   $ 112,312     $ 82,990  
India     12,827       16,906  
    Total Assets   $ 125,139     $ 99,896  

 

North America: During the year ended December 31, 2020 and 2019, the Company amended the Corn Procurement and Working Capital Agreement and the J.D. Heiskell Purchasing Agreement to procure corn from J.D. Heiskell and sell all WDG and corn oil the Company produces to J.D. Heiskell. Sales of ethanol, WDG, corn oil, and high-grade alcohol to two customers accounted for 42% and 41% of the Company’s North America segment revenues for the year ended December 31, 2020. Sales of ethanol, WDG, and corn oil to one customer accounted for 99.1% of the Company’s North America segment revenues for the year ended December 31, 2019.

 

India: During the year ended December 30, 2020, two biodiesel customers accounted for 42% and 26% of the Company’s consolidated India segment revenues while none of the refined glycerin customers accounted for more than 10%, compared to three biodiesel customers accounting for 33%, 15% and 13% 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 year ended December 31, 2019.