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Assets and Liabilities Held-For-Sale. | 3 Months Ended
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Mar. 31, 2021
Business Combinations [Abstract] |
ASSETS AND LIABILITIES HELD-FOR-SALE. | 2. ASSETS AND LIABILITIES HELD-FOR-SALE. In October 2020, the Company’s Board of Directors approved a plan to sell the Company’s fuel-grade ethanol production facilities located in Madera and Stockton, California. As a result, the Company determined the related long-lived asset groups should be classified as held-for-sale at December 31, 2020. During the three months ended March 31, 2021, the Company provided for an additional impairment charge of $1.2 million based on revised fair value estimates. On April 23, 2021, the Company entered into an asset purchase agreement to sell its Madera facility for total consideration of $28.3 million, comprised of $19.5 million in cash and $8.8 million in assumption of liabilities. On May 14, 2021, the Company closed the sale. The Company classified the following assets and liabilities as held-for-sale as of March 31, 2021 (in thousands):
|  | Stockton |  |  | Madera |
Property and equipment, net |  | $ | 19,535 |  |  | $ | 27,813 |
Right of use operating lease assets, net |  |  | 9,705 |  |  |  | - |
Assets held-for-sale |  | $ | 29,240 |  |  | $ | 27,813 |
|  | Stockton |  |  | Madera |
Operating lease obligations |  | $ | 10,456 |  |  | $ | — |
Assessment financing |  |  | — |  |  |  | 8,775 |
Liabilities held-for-sale |  | $ | 10,456 |  |  | $ | 8,775 |
The Company classified the following assets and liabilities as held-for-sale as of December 31, 2020 (in thousands):
|  | Stockton |  |  | Madera |
Property and equipment, net |  | $ | 19,535 |  |  | $ | 29,013 |
Right of use operating lease assets, net |  |  | 9,747 |  |  |  | - |
Assets held-for-sale |  | $ | 29,282 |  |  | $ | 29,013 |
|  | Stockton |  |  | Madera |
Operating lease obligations |  | $ | 10,435 |  |  | $ | — |
Assessment financing |  |  | — |  |  |  | 9,107 |
Liabilities held-for-sale |  | $ | 10,435 |  |  | $ | 9,107 |
For the three months ended March 31, 2021, net sales attributed to the results of operations for Stockton and Madera were $0.2 million and less than $0.1 million, respectively. For the three months ended March 31, 2020, net sales attributed to the results of operations for Stockton and Madera were $21.9 million and $21.5 million, respectively. For the three months ended March 31, 2021, pre-tax loss attributed to the results of operations for Stockton and Madera was $0.8 million and $1.6 million, respectively. For the three months ended March 31, 2020, pre-tax loss attributed to the results of operations for Stockton and Madera was $2.3 million and $1.8 million, respectively.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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