XML 27 R16.htm IDEA: XBRL DOCUMENT v3.22.1
Segment Information
 3 Months Ended
Mar. 31, 2022
Segment Information  
Segment Information

10.  Segment Information

 

Aemetis recognizes three reportable segments “California Ethanol”, “Dairy Renewable Natural Gas”, and “India Biodiesel.”  

 

The “California Ethanol” reportable segment includes the Company’s 65 million gallon per year Keyes Plant, and the adjacent land leased for the production of CO₂.

 

The “Dairy Renewable Natural Gas” reportable segment includes, the dairy digesters, pipeline and gas condition unit for the production of biogas from dairies near Keyes, California.

 

The “India Biodiesel” reportable 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.

 

The Company has additional operating segments that were determined not to be reportable segments, including the Carbon Zero 1 facility in Riverbank, the Goodland Plant, and the research and development facility in Minnesota.  Refer to the “All Other” category.

Summarized financial information by reportable segment for the three months ended March 31, 2022 and 2021 follows:

 

 

 

For the three months year ended March 31, 2022

 

 

 

California Ethanol

 

 

Dairy Renewable Natural Gas

 

 

India Biodiesel

 

 

All other

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

 

$52,041

 

 

$-

 

 

$8

 

 

$-

 

 

$52,049

 

Intersegment revenues

 

 

-

 

 

 

335

 

 

 

-

 

 

 

-

 

 

 

335

 

Gross profit (loss)

 

 

(2,880)

 

 

(207)

 

 

8

 

 

 

(6)

 

 

(3,085)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

4,194

 

 

 

4

 

 

 

-

 

 

 

237

 

 

 

4,435

 

Accretion and other expenses of Series A preferred units

 

 

-

 

 

 

1,640

 

 

 

-

 

 

 

-

 

 

 

1,640

 

Capital expenditures

 

 

1,803

 

 

 

5,449

 

 

 

67

 

 

 

2,140

 

 

 

9,459

 

Depreciation

 

 

1,011

 

 

 

146

 

 

 

168

 

 

 

11

 

 

 

1,336

 

Total Assets

 

 

65,579

 

 

 

47,830

 

 

 

10,171

 

 

 

42,906

 

 

 

166,486

 

 

 

 

For the three months year ended March 31, 2021

 

 

 

California Ethanol

 

 

Dairy Renewable Natural Gas

 

 

India Biodiesel

 

 

All other

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from external customers

 

$42,328

 

 

$-

 

 

$479

 

 

$-

 

 

$42,807

 

Intersegment revenues

 

 

-

 

 

 

41

 

 

 

-

 

 

 

-

 

 

 

41

 

Gross loss

 

 

(3,131)

 

 

(412)

 

 

(55)

 

 

(10)

 

 

(3,608)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

4,910

 

 

 

3

 

 

 

-

 

 

 

1,052

 

 

 

5,965

 

Accretion and other expenses of Series A preferred units

 

 

-

 

 

 

1,943

 

 

 

-

 

 

 

-

 

 

 

1,943

 

Capital expenditures

 

 

8

 

 

 

4,392

 

 

 

117

 

 

 

2,043

 

 

 

6,560

 

Depreciation

 

 

1,052

 

 

 

142

 

 

 

184

 

 

 

8

 

 

 

1,386

 

Total Assets

 

 

76,452

 

 

 

27,814

 

 

 

12,306

 

 

 

27,161

 

 

 

143,733

 

 

A reconciliation of reportable segment revenues to consolidated totals for the three months ended March 31, 2022 and 2021 follow:

 

 

 

2022

 

 

2021

 

Total revenues for reportable segments

 

$52,384

 

 

$42,848

 

Elmination of intersegment revenues

 

 

(335)

 

 

(41)

Total consolidated revenues

 

$52,049

 

 

$42,807

 

 

California Ethanol: During the three months ended March 31, 2022 and 2021, 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 to two customers accounted for 73% and 27% of the Company’s California Ethanol segment revenues for the three months ended March 31, 2022. Sales of ethanol, WDG, and corn oil to two customers accounted for 71% and 29% of the Company’s North America segment revenues for the three months ended March 31, 2021.

 

Dairy Renewable Natural Gas: Substantially all of our Dairy Renewable Natural Gas segment revenues during the three months ended March 31, 2022 and 2021 were from sales of biogas to the Keyes Plant for use in boilers, which allowed qualification of carbon credits for the ethanol produced in the Keyes Plant.