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Note 13 - Segment Information | 3 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 13. Segment Information Aemetis recognizes three reportable segments “California Ethanol,” “California Dairy Renewable Natural Gas,” and “India Biodiesel.” The “California Ethanol” reportable segment includes the Company’s 65 million gallon per year ethanol plant in Keyes, California, and the adjacent land leased for the production of CO₂. The “California Dairy Renewable Natural Gas” reportable segment includes the production and sale of Renewable Natural Gas ("RNG") and associated environmental attributes, consisting of anaerobic digesters located at diaries, at 36 mile biogas collection pipeline, biogas upgrading hub that produces RNG from the biogas, and a pipeline interconnect. The “India Biodiesel” reportable segment includes the Company’s 60 million gallon per year nameplate capacity biodiesel manufacturing plant in Kakinada India, and administrative offices in Hyderabad, India. The Company has additional operating segments that have been determined not to be separately reportable segments, including our key projects under development which consists of the development of a sustainable aviation fuel and renewable diesel production plant in Riverbank, California, and the development of Carbon Capture and Underground Sequestration wells in California. Additionally, our corporate offices, Goodland Plant in Kansas, and research and development facility in Minnesota are included in the “All Other” category. Summarized financial information by reportable segment for the three months ended March 31, 2024 and 2023 follows:
|  | For the three months ended March 31, 2024 |
|  | California Ethanol |  |  | California Dairy Renewable Natural Gas |  |  | India Biodiesel |  |  | All Other |  |  | Total |
Revenues |  | $ | 36,089 |  |  | $ | 3,792 |  |  | $ | 32,753 |  |  | $ | - |  |  | $ | 72,634 |
Gross profit (loss) |  |  | (5,658 | ) |  |  | 2,210 |  |  |  | 2,836 |  |  |  | - |  |  |  | (612 | )
Interest expense including amortization of debt fees |  |  | 6,753 |  |  |  | 636 |  |  |  | 425 |  |  |  | 2,699 |  |  |  | 10,513 |
Accretion and other expenses of Series A preferred units |  |  | - |  |  |  | 3,311 |  |  |  | - |  |  |  | - |  |  |  | 3,311 |
Income tax expense (benefit) |  |  | - |  |  |  | 35 |  |  |  | 843 |  |  |  | - |  |  |  | 878 |
Capital expenditures |  |  | 107 |  |  |  | 2,843 |  |  |  | 304 |  |  |  | 329 |  |  |  | 3,583 |
Depreciation |  |  | 966 |  |  |  | 569 |  |  |  | 208 |  |  |  | 55 |  |  |  | 1,798 |
|  | For the three months ended March 31, 2023 |
|  | California Ethanol |  |  | California Dairy Renewable Natural Gas |  |  | India Biodiesel |  |  | All Other |  |  | Total |
Revenues |  | $ | 475 |  |  | $ | 206 |  |  | $ | 1,470 |  |  | $ | - |  |  | $ | 2,151 |
Gross loss |  |  | (12 | ) |  |  | (773 | ) |  |  | (510 | ) |  |  | - |  |  |  | (1,295 | )
Interest expense including amortization of debt fees |  |  | 5,518 |  |  |  | 704 |  |  |  | 69 |  |  |  | 2,756 |  |  |  | 9,047 |
Accretion and other expenses of Series A preferred units |  |  | - |  |  |  | 5,564 |  |  |  | - |  |  |  | - |  |  |  | 5,564 |
Capital expenditures |  |  | 334 |  |  |  | 6,499 |  |  |  | 36 |  |  |  | 747 |  |  |  | 7,616 |
Depreciation |  |  | 1,109 |  |  |  | 457 |  |  |  | 155 |  |  |  | 69 |  |  |  | 1,790 |
California Ethanol: During 2023, t he 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 ethanol, WDG, and corn oil that the Company produces to J.D. Heiskell. Sales of ethanol, WDG, and corn oil to one customer accounted for 99.7% of the Company’s California Ethanol segment revenues for the three months ended March 31, 2024 . Sales of ethanol, WDG, and corn oil to one customer accounted for 77% of th e Company’s California Ethanol segment revenues for the three months ended March 31, 2023. California Dairy Renewable Natural Gas: During the three months ended March 31, 2024, we sold RNG to a single customer and sold D3 RINs and LCFS credits to two other customers. During the three months ended March 31, 2023, all sales of RNG were to a single customer. India Biodiesel: Three biodiesel customers accounted for 40%, 38%, and 16% of the Company’s India segment revenues for the three months ended March 31, 2024. One biodiesel customer accounted for 80% of the Company’s India segment revenues for the three months ended March 31, 2024. Total assets by reportable segments as of March 31, 2024 and December 31, 2023 follows:
|  | March 31, 2024 |  |  | December 31, 2023 |
California Ethanol |  | $ | 68,403 |  |  | $ | 67,991 |
California Dairy Renewable Natural Gas |  |  | 100,242 |  |  |  | 92,794 |
India Biodiesel |  |  | 32,820 |  |  |  | 34,769 |
All Other |  |  | 40,774 |  |  |  | 47,852 |
Total consolidated assets |  | $ | 242,239 |  |  | $ | 243,406 |

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- Definition The entire disclosure for reporting segments including data and tables. 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