XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.24.3

Note 13 - Segment Information | 9 Months Ended
--- | ---
Sep. 30, 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” segment includes the Company’s 65 million gallon per year ethanol plant in Keyes, California, and the adjacent land leased to produce CO₂. ● The “California Dairy Renewable Natural Gas” segment includes the production and sale of Renewable Natural Gas ("RNG") and associated environmental attributes, consisting of nine anaerobic digesters processing waste from ten dairies, a 36 mile biogas collection pipeline, a biogas upgrading hub that produces RNG from the biogas, a pipeline interconnect, and ongoing construction of additional digesters. ● The “India Biodiesel” segment includes the Company’s 60 million gallon per year 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 so are reported in the "All Other" category, including our key projects for the development of a sustainable aviation fuel and renewable diesel production plant in Riverbank, California, and 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 September 30, 2024 and 2023, follows:
|  | For the three months ended September 30, 2024 |
|  | California Ethanol |  |  | California Dairy Renewable Natural Gas |  |  | India Biodiesel |  |  | All Other |  |  | Total |
Revenues |  | $ | 44,934 |  |  | $ | 4,250 |  |  | $ | 32,257 |  |  | $ | - |  |  | $ | 81,441 |
Gross profit |  |  | 85 |  |  |  | 1,897 |  |  |  | 1,896 |  |  |  | - |  |  |  | 3,878 |
Interest expense including amortization of debt fees |  |  | 7,911 |  |  |  | 808 |  |  |  | 30 |  |  |  | 2,998 |  |  |  | 11,747 |
Accretion and other expenses of Series A preferred units |  |  | - |  |  |  | 3,267 |  |  |  | - |  |  |  | - |  |  |  | 3,267 |
Income tax expense |  |  | - |  |  |  | - |  |  |  | 274 |  |  |  | - |  |  |  | 274 |
Capital expenditures |  |  | 154 |  |  |  | 3,762 |  |  |  | 257 |  |  |  | 317 |  |  |  | 4,490 |
Depreciation |  |  | 1,111 |  |  |  | 866 |  |  |  | 241 |  |  |  | 56 |  |  |  | 2,274 |
|  | For the three months ended September 30, 2023 |
|  | California Ethanol |  |  | California Dairy Renewable Natural Gas |  |  | India Biodiesel |  |  | All Other |  |  | Total |
Revenues |  |  | 47,439 |  |  | $ | 1,107 |  |  | $ | 20,144 |  |  | $ | - |  |  | $ | 68,690 |
Gross profit (loss) |  |  | (1,473 | ) |  |  | (807 | ) |  |  | 2,772 |  |  |  | - |  |  |  | 492 |
Interest expense including amortization of debt fees |  |  | 6,729 |  |  |  | 620 |  |  |  | 19 |  |  |  | 2,814 |  |  |  | 10,182 |
Accretion and other expenses of Series A preferred units |  |  | - |  |  |  | 7,739 |  |  |  | - |  |  |  | - |  |  |  | 7,739 |
Income tax expense (benefit) |  |  | - |  |  |  | (55,164 | ) |  |  | (145 | ) |  |  | 1 |  |  |  | (55,308 | )
Capital expenditures |  |  | 1,363 |  |  |  | 6,819 |  |  |  | 372 |  |  |  | 233 |  |  |  | 8,787 |
Depreciation |  |  | 960 |  |  |  | 598 |  |  |  | 158 |  |  |  | 31 |  |  |  | 1,747 |
The following table summarizes financial information by reportable segment for the nine months ended September 30, 2024 and 2023:
|  | For the nine months ended September 30, 2024 |
|  | California Ethanol |  |  | California Dairy Renewable Natural Gas |  |  | India Biodiesel |  |  | All other |  |  | Total |
Revenues |  | $ | 121,155 |  |  | $ | 9,640 |  |  | $ | 89,841 |  |  | $ | - |  |  | $ | 220,636 |
Gross profit (loss) |  |  | (9,494 | ) |  |  | 3,971 |  |  |  | 6,983 |  |  |  | - |  |  |  | 1,460 |
Interest expense including amortization of debt fees |  |  | 22,807 |  |  |  | 2,174 |  |  |  | 659 |  |  |  | 8,344 |  |  |  | 33,984 |
Accretion and other expenses of Series A preferred units |  |  | - |  |  |  | 10,055 |  |  |  | - |  |  |  | - |  |  |  | 10,055 |
Income tax expense |  |  | - |  |  |  | 36 |  |  |  | 1,501 |  |  |  | - |  |  |  | 1,537 |
Loss on asset disposals |  |  | 3,644 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,644 |
Capital expenditures |  |  | 584 |  |  |  | 10,911 |  |  |  | 575 |  |  |  | 1,400 |  |  |  | 13,470 |
Depreciation |  |  | 3,120 |  |  |  | 2,206 |  |  |  | 629 |  |  |  | 166 |  |  |  | 6,121 |
|  | For the nine months ended September 30, 2023 |
|  | California Ethanol |  |  | California Dairy Renewable Natural Gas |  |  | India Biodiesel |  |  | All other |  |  | Total |
Revenues |  | $ | 59,246 |  |  | $ | 1,523 |  |  | $ | 55,184 |  |  | $ | - |  |  | $ | 115,953 |
Gross profit (loss) |  |  | (3,807 | ) |  |  | (2,644 | ) |  |  | 7,604 |  |  |  | - |  |  |  | 1,153 |
Interest expense including amortization of debt fees |  |  | 18,499 |  |  |  | 1,841 |  |  |  | 313 |  |  |  | 8,205 |  |  |  | 28,858 |
Accretion and other expenses of Series A preferred units |  |  | - |  |  |  | 20,188 |  |  |  | - |  |  |  | - |  |  |  | 20,188 |
Income tax expense (benefit) |  |  | - |  |  |  | (55,151 | ) |  |  | 653 |  |  |  | 8 |  |  |  | (54,490 | )
Capital expenditures |  |  | 2,423 |  |  |  | 14,622 |  |  |  | 523 |  |  |  | 1,027 |  |  |  | 18,595 |
Depreciation |  |  | 3,029 |  |  |  | 1,578 |  |  |  | 470 |  |  |  | 131 |  |  |  | 5,208 |
California Ethanol: Sales of ethanol, WDG, and corn oil to one customer (J.D. Heiskell) accounted for 97.0% and 99.7% of the Company’s California Ethanol segment revenues for the three months ended September 30, 2024 and 2023, respectively. Sales of ethanol, WDG, and corn oil to one customer (J.D. Heiskell) accounted for 98.6% and 99.7% of the Company’s California Ethanol segment revenues for the nine months ended September 30, 2024 , and 2023, respectively. California Dairy Renewable Natural Gas: During the three and nine months ended September 30, 2024, we sold RNG to a single customer and sold D3 RINs and LCFS credits to two other customers. During the three and nine months ended September 30, 2023, we sold RNG to one customer and sales of D3 RINs to another separate customer. India Biodiesel: Three biodiesel customers accounted for 40%, 29%, and 28% of the Company’s India segment revenues for the three months ended September 30, 2024. Three biodiesel customers accounted for 42%, 35%, and 19% of the Company’s India segment revenues for the three months ended September 30, 2023. Three biodiesel customers accounted for 41%, 33%, and 21% of the Company’s India segment revenues for the nine months ended September 30, 2024. Three biodiesel customers accounted for 43%, 28%, and 24% of the Company’s India segment revenues for the nine months ended September 30, 2023. Total assets by reportable segment as of September 30, 2024, and December 31, 2023, are as follows:
|  | September 30, 2024 |  |  | December 31, 2023 |
California Ethanol |  | $ | 57,060 |  |  | $ | 67,991 |
California Dairy Renewable Natural Gas |  |  | 110,975 |  |  |  | 92,794 |
India Biodiesel |  |  | 40,116 |  |  |  | 34,769 |
All Other |  |  | 39,274 |  |  |  | 47,852 |
Total consolidated assets |  | $ | 247,425 |  |  | $ | 243,406 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration