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SEGMENTS. | 9 Months Ended
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Sep. 30, 2019
Segment Reporting [Abstract] |
SEGMENTS. |
2. | SEGMENTS.
The Company reports its financial and operating performance in two segments: (1) ethanol production, which includes the production and sale of ethanol, specialty alcohols and co-products, with all of the Company’s production facilities aggregated, and (2) marketing and distribution, which includes marketing and merchant trading for Company-produced ethanol, specialty alcohols and co-products and third-party ethanol. The following tables set forth certain financial data for the Company’s operating segments (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
Net Sales |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Production, recorded as gross: |  |  |  |  |  |  |  |  |  |  |  |
Ethanol/alcohol sales |  | $ | 212,897 |  |  | $ | 216,788 |  |  | $ | 586,680 |  |  | $ | 670,304 |
Co-product sales |  |  | 65,693 |  |  |  | 73,259 |  |  |  | 199,177 |  |  |  | 226,307 |
Intersegment sales |  |  | 403 |  |  |  | 518 |  |  |  | 1,187 |  |  |  | 1,531 |
Total production sales |  |  | 278,993 |  |  |  | 290,565 |  |  |  | 787,044 |  |  |  | 898,142 |
Marketing and distribution: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ethanol/alcohol sales, gross |  | $ | 86,124 |  |  | $ | 79,877 |  |  | $ | 280,032 |  |  | $ | 282,940 |
Ethanol/alcohol sales, net |  |  | 446 |  |  |  | 483 |  |  |  | 1,375 |  |  |  | 1,405 |
Intersegment sales |  |  | 2,079 |  |  |  | 2,201 |  |  |  | 5,839 |  |  |  | 6,757 |
Total marketing and distribution sales |  |  | 88,649 |  |  |  | 82,561 |  |  |  | 287,246 |  |  |  | 291,102 |
Intersegment eliminations |  |  | (2,482 | ) |  |  | (2,719 | ) |  |  | (7,026 | ) |  |  | (8,288 | )
Net sales as reported |  | $ | 365,160 |  |  | $ | 370,407 |  |  | $ | 1,067,264 |  |  | $ | 1,180,956 |
Cost of goods sold: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Production |  | $ | 294,888 |  |  | $ | 295,574 |  |  | $ | 810,670 |  |  | $ | 914,638 |
Marketing and distribution |  |  | 87,976 |  |  |  | 73,784 |  |  |  | 277,545 |  |  |  | 268,917 |
Intersegment eliminations |  |  | (2,888 | ) |  |  | (2,719 | ) |  |  | (7,817 | ) |  |  | (8,456 | )
Cost of goods sold as reported |  | $ | 379,976 |  |  | $ | 366,639 |  |  | $ | 1,080,398 |  |  | $ | 1,175,099 |
Income (loss) before benefit for income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Production |  | $ | (25,999 | ) |  | $ | (15,571 | ) |  | $ | (50,682 | ) |  | $ | (45,355 | )
Marketing and distribution |  |  | (998 | ) |  |  | 7,416 |  |  |  | 4,991 |  |  |  | 18,095 |
Corporate activities |  |  | (2,076 | ) |  |  | (1,149 | ) |  |  | (5,833 | ) |  |  | (6,708 | )
|  | $ | (29,073 | ) |  | $ | (9,304 | ) |  | $ | (51,524 | ) |  | $ | (33,968 | )
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Production |  | $ | 11,833 |  |  | $ | 10,040 |  |  | $ | 35,390 |  |  | $ | 30,017 |
Corporate activities |  |  | 195 |  |  |  | 177 |  |  |  | 554 |  |  |  | 618 |
|  | $ | 12,028 |  |  | $ | 10,217 |  |  | $ | 35,944 |  |  | $ | 30,635 |
Interest expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Production |  | $ | 1,969 |  |  | $ | 1,692 |  |  | $ | 5,724 |  |  | $ | 5,416 |
Marketing and distribution |  |  | 929 |  |  |  | 344 |  |  |  | 2,291 |  |  |  | 1,042 |
Corporate activities |  |  | 2,265 |  |  |  | 2,157 |  |  |  | 6,999 |  |  |  | 6,417 |
|  | $ | 5,163 |  |  | $ | 4,193 |  |  | $ | 15,014 |  |  | $ | 12,875 |
The following table sets forth the Company’s total assets by operating segment (in thousands):
Total assets: |  | September 30, 2019 |  |  | December 31, 2018 |
Production |  | $ | 527,950 |  |  | $ | 532,790 |
Marketing and distribution |  |  | 108,960 |  |  |  | 112,984 |
Corporate assets |  |  | 15,950 |  |  |  | 14,117 |
|  | $ | 652,860 |  |  | $ | 659,891 |

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- References No definition available. + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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