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Assets and Liabilities Held-For-Sale. | 6 Months Ended
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Jun. 30, 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 six months ended June 30, 2021, the Company provided for an additional impairment charge of $1.2 million based on revised fair value estimates. On May 14, 2021, the Company closed the sale of 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, resulting in a net loss on sale of less than $0.1 million, recorded as other income (expense), net in the Company’s consolidated statements of operations. All of the cash proceeds were used to repay a significant portion of the Company’s term debt and accrued interest. The Company continues to market its Stockton facility for sale. In June 2021, the Company agreed to a plan to sell certain assets of the Company’s idled facility in Canton, Illinois. As a result, the Company determined the related long-lived asset groups should be classified as held-for-sale at June 30, 2021. During the three months ended June 30, 2021, the Company recorded an estimated impairment charge of $1.9 million based on fair value estimates. The Company classified the following assets and liabilities as held-for-sale as of June 30, 2021 (in thousands):
|  | Stockton |  |  | Canton |
Property and equipment, net |  | $ | 19,535 |  |  | $ | 1,000 |
Right of use operating lease assets, net |  |  | 9,664 |  |  |  | — |
Assets held-for-sale |  | $ | 29,199 |  |  | $ | 1,000 |
|  | Stockton |  |  | Canton |
Liabilities held-for-sale – operating leases |  | $ | 10,478 |  |  | $ | — |
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 June 30, 2021, net sales attributed to the results of operations for Stockton and Madera were $0.4 million and less than $0.1 million, respectively. For the three months ended June 30, 2020, net sales attributed to the results of operations for Stockton and Madera were $0.5 million and $1.0 million, respectively. For the three months ended June 30, 2021, pre-tax loss attributed to the results of operations for Stockton and Madera was $1.4 million and $0.2 million, respectively. For the three months ended June 30, 2020, pre-tax loss attributed to the results of operations for Stockton and Madera was $1.2 million and $1.8 million, respectively. For the six months ended June 30, 2021, net sales attributed to the results of operations for Stockton and Madera were $0.6 million and less than $0.1 million, respectively. For the six months ended June 30, 2020, net sales attributed to the results of operations for Stockton and Madera were $22.4 million and $22.5 million, respectively. For the six months ended June 30, 2021, pre-tax loss attributed to the results of operations for Stockton and Madera was $2.2 million and $1.8 million, respectively. For the six months ended June 30, 2020, pre-tax loss attributed to the results of operations for Stockton and Madera was $3.5 million and $3.6 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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