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Segment Information | 6 Months Ended
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Jun. 30, 2021
Segment Information |
9. Segment Information | 9. Segment Information Aemetis recognizes two reportable geographic segments: “North America” and “India.” The “North America” operating segment includes the Company’s 65 million gallons per year capacity Keyes Plant in California, the ultra-low carbon renewable fuel project in Riverbank, the biogas digesters on dairies near Keyes, California, 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 capacity Kakinada Plant in India, 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, 2021 and 2020 follows:
|  | For the three months ended June 30, 2021 |  |  | For the three months ended June 30, 2020 |
|  | North America |  |  | India |  |  | Total Consolidated |  |  | North America |  |  | India |  |  | Total Consolidated |
Revenues |  | $ | 54,730 |  |  | $ | 154 |  |  | $ | 54,884 |  |  | $ | 45,223 |  |  | $ | 2,601 |  |  | $ | 47,824 |
Cost of goods sold |  |  | 51,069 |  |  |  | 169 |  |  |  | 51,238 |  |  |  | 31,284 |  |  |  | 2,481 |  |  |  | 33,765 |
Gross profit (loss) |  |  | 3,661 |  |  |  | (15 | ) |  |  | 3,646 |  |  |  | 13,939 |  |  |  | 120 |  |  |  | 14,059 |
Other expenses (income) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development expenses |  |  | 21 |  |  |  | - |  |  |  | 21 |  |  |  | 21 |  |  |  | - |  |  |  | 21 |
Selling, general and administrative expenses |  |  | 5,358 |  |  |  | 395 |  |  |  | 5,753 |  |  |  | 3,746 |  |  |  | 303 |  |  |  | 4,049 |
Interest expense |  |  | 5,219 |  |  |  | - |  |  |  | 5,219 |  |  |  | 6,172 |  |  |  | 16 |  |  |  | 6,188 |
Accretion and other expenses of Series A preferred units |  |  | 3,800 |  |  |  | - |  |  |  | 3,800 |  |  |  | 1,362 |  |  |  | - |  |  |  | 1,362 |
Gain on debt extinguishment |  |  | (1,134 | ) |  |  | - |  |  |  | (1,134 | ) |  |  | - |  |  |  | - |  |  |  | - |
Other expense (income) |  |  | 572 |  |  |  | (28 | ) |  |  | 544 |  |  |  | 314 |  |  |  | (11 | ) |  |  | 303 |
Income (loss) before income taxes |  | $ | (10,175 | ) |  | $ | (382 | ) |  | $ | (10,557 | ) |  | $ | 2,324 |  |  | $ | (188 | ) |  | $ | 2,136 |
Capital expenditures |  | $ | 6,374 |  |  | $ | 1 |  |  | $ | 6,375 |  |  | $ | 6,086 |  |  | $ | 163 |  |  | $ | 6,249 |
Depreciation |  |  | 1,204 |  |  |  | 174 |  |  |  | 1,378 |  |  |  | 1,012 |  |  |  | 160 |  |  |  | 1,172 |
|  | For the six months ended June 30, 2021 |  |  | For the six months ended June 30, 2020 |
|  | North America |  |  | India |  |  | Total Consolidated |  |  | North America |  |  | India |  |  | Total Consolidated |
Revenues |  | $ | 97,058 |  |  | $ | 633 |  |  | $ | 97,691 |  |  | $ | 81,095 |  |  | $ | 6,209 |  |  | $ | 87,304 |
Cost of goods sold |  |  | 96,950 |  |  |  | 703 |  |  |  | 97,653 |  |  |  | 67,697 |  |  |  | 5,981 |  |  |  | 73,678 |
Gross profit (loss) |  |  | 108 |  |  |  | (70 | ) |  |  | 38 |  |  |  | 13,398 |  |  |  | 228 |  |  |  | 13,626 |
Other expenses (income) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development expenses |  |  | 44 |  |  |  | - |  |  |  | 44 |  |  |  | 138 |  |  |  | - |  |  |  | 138 |
Selling, general and administrative expenses |  |  | 10,379 |  |  |  | 756 |  |  |  | 11,135 |  |  |  | 6,866 |  |  |  | 1,119 |  |  |  | 7,985 |
Interest expense |  |  | 12,399 |  |  |  | - |  |  |  | 12,399 |  |  |  | 13,029 |  |  |  | 35 |  |  |  | 13,064 |
Accretion and other expenses of Series A preferred units |  |  | 5,743 |  |  |  | - |  |  |  | 5,743 |  |  |  | 2,322 |  |  |  | - |  |  |  | 2,322 |
Gain on debt extinguishment |  |  | (1,134 | ) |  |  | - |  |  |  | (1,134 | ) |  |  | - |  |  |  | - |  |  |  | - |
Other (income) expense |  |  | 562 |  |  |  | (49 | ) |  |  | 513 |  |  |  | 261 |  |  |  | (21 | ) |  |  | 240 |
Loss before income taxes |  | $ | (27,885 | ) |  | $ | (777 | ) |  | $ | (28,662 | ) |  | $ | (9,218 | ) |  | $ | (905 | ) |  | $ | (10,123 | )
Capital expenditures |  | $ | 12,817 |  |  |  | 118 |  |  |  | 12,935 |  |  | $ | 7,384 |  |  | $ | 1,237 |  |  | $ | 8,621 |
Depreciation |  |  | 2,406 |  |  |  | 358 |  |  |  | 2,764 |  |  |  | 1,945 |  |  |  | 317 |  |  |  | 2,262 |
North America. Sales of ethanol, WDG, and corn oil to two customers accounted for 77% and 23% of the Company’s North America segment revenues for the three months ended June 30, 2021. Sales of ethanol, WDG, and corn oil to two customers accounted for 74% and 25% of the Company’s North America segment revenues for the six months ended June 30, 2021. Sales of ethanol, WDG, and corn oil to two customers accounted for 28% and 22% of the North America segment revenues for the three months ended June 30, 2020. Sales of high-grade alcohol to one customer accounted for 27% of the North America segment revenues for the three months ended June 30, 2020. Sales of ethanol, WDG, and corn oil to two customers accounted for 54% and 16% of the North America segment revenues for the six months ended June 30, 2020. Sales of high-grade alcohol to one customer accounted for 15% of the North America segment revenues for the six months ended June 30, 2020. India. One biodiesel customer accounted for 70% of the Company’s consolidated India segment revenues while one other sales customer accounted for 25% of the Company’s consolidated India segment revenues for the three months ended June 30, 2021. One biodiesel customer accounted for 73% of the Company’s consolidated India segment revenues while one refined glycerin customer accounted for 18% of such revenues for the six months ended June 30, 2021. Three biodiesel customers accounted for 28%, 23%, and 16% of the Company’s consolidated India segment revenues for the three months ended June 30, 2020, while none of the refined glycerin customers accounted for more than 10% of such revenues for the three months ended June 30, 2020. Four biodiesel customers accounted for 28%, 23%, 11% and 10% of the Company’s consolidated India segment revenues while none of the refined glycerin customers accounted for more than 10% of such revenues for the six months ended June 30, 2020. Total assets by segment consist of the following:
|  | As of |
|  | June 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
North America |  | $ | 131,570 |  |  | $ | 112,312 |
India |  |  | 11,717 |  |  |  | 12,827 |
Total Assets |  | $ | 143,287 |  |  | $ | 125,139 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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