XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.25.3

Segments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segments [Abstract] |
Schedule of Set Forth Certain Financial Data for the Company’s Operating Segments | 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, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Pekin Campus production, recorded as gross: |  |  |  |  |  |  |  |  |  |  |  |
Alcohol sales |  | $ | 109,276 |  |  | $ | 106,459 |  |  | $ | 310,666 |  |  | $ | 315,494 |
Essential ingredient sales |  |  | 45,307 |  |  |  | 41,217 |  |  |  | 129,490 |  |  |  | 127,297 |
Intersegment sales |  |  | 283 |  |  |  | 321 |  |  |  | 764 |  |  |  | 927 |
Total Pekin Campus sales |  |  | 154,866 |  |  |  | 147,997 |  |  |  | 440,920 |  |  |  | 443,718 |
Marketing and distribution: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alcohol sales, gross |  | $ | 58,595 |  |  | $ | 54,531 |  |  | $ | 165,695 |  |  | $ | 179,118 |
Alcohol sales, net |  |  | 74 |  |  |  | 71 |  |  |  | 215 |  |  |  | 169 |
Intersegment sales |  |  | 2,497 |  |  |  | 2,862 |  |  |  | 7,338 |  |  |  | 8,002 |
Total marketing and distribution sales |  |  | 61,166 |  |  |  | 57,464 |  |  |  | 173,248 |  |  |  | 187,289 |
Western production, recorded as gross: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alcohol sales |  | $ | 17,419 |  |  | $ | 36,395 |  |  | $ | 50,218 |  |  | $ | 74,084 |
Essential ingredient sales |  |  | 8,017 |  |  |  | 10,408 |  |  |  | 24,076 |  |  |  | 24,184 |
Intersegment sales |  |  | 513 |  |  |  | 8 |  |  |  | 1,281 |  |  |  | (122 | )
Total Western production sales |  |  | 25,949 |  |  |  | 46,811 |  |  |  | 75,575 |  |  |  | 98,146 |
Corporate and other |  |  | 2,298 |  |  |  | 2,733 |  |  |  | 5,602 |  |  |  | 8,565 |
Intersegment eliminations |  |  | (3,293 | ) |  |  | (3,191 | ) |  |  | (9,383 | ) |  |  | (8,807 | )
Net sales as reported |  | $ | 240,986 |  |  | $ | 251,814 |  |  | $ | 685,962 |  |  | $ | 728,911 |
Cost of goods sold: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pekin Campus production |  | $ | 135,942 |  |  | $ | 141,823 |  |  | $ | 431,669 |  |  | $ | 423,135 |
Marketing and distribution |  |  | 56,738 |  |  |  | 53,553 |  |  |  | 160,904 |  |  |  | 176,676 |
Western production |  |  | 24,447 |  |  |  | 49,079 |  |  |  | 72,719 |  |  |  | 112,762 |
Corporate and other |  |  | 2,063 |  |  |  | 2,952 |  |  |  | 5,449 |  |  |  | 8,690 |
Intersegment eliminations |  |  | (1,698 | ) |  |  | (1,553 | ) |  |  | (4,529 | ) |  |  | (3,465 | )
Cost of goods sold as reported |  | $ | 217,492 |  |  | $ | 245,854 |  |  | $ | 666,212 |  |  | $ | 717,798 |
Gross profit (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pekin Campus production |  | $ | 18,924 |  |  | $ | 6,174 |  |  | $ | 9,251 |  |  | $ | 20,583 |
Marketing and distribution |  |  | 4,428 |  |  |  | 3,911 |  |  |  | 12,344 |  |  |  | 10,613 |
Western production |  |  | 1,502 |  |  |  | (2,268 | ) |  |  | 2,856 |  |  |  | (14,616 | )
Corporate and other |  |  | 235 |  |  |  | (219 | ) |  |  | 153 |  |  |  | (125 | )
Intersegment eliminations |  |  | (1,595 | ) |  |  | (1,638 | ) |  |  | (4,854 | ) |  |  | (5,342 | )
Gross profit as reported |  | $ | 23,494 |  |  | $ | 5,960 |  |  | $ | 19,750 |  |  | $ | 11,113 |
Income (loss) before provision for income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pekin Campus production |  | $ | 14,694 |  |  | $ | 1,997 |  |  | $ | (3,349 | ) |  | $ | 8,083 |
Marketing and distribution |  |  | 2,105 |  |  |  | 1,626 |  |  |  | 5,468 |  |  |  | 3,733 |
Western production |  |  | (1,151 | ) |  |  | (4,119 | ) |  |  | (5,754 | ) |  |  | (21,075 | )
Corporate and other |  |  | (1,440 | ) |  |  | (1,945 | ) |  |  | (4,833 | ) |  |  | (8,013 | )
|  | $ | 14,208 |  |  | $ | (2,441 | ) |  | $ | (8,468 | ) |  | $ | (17,272 | )
Depreciation and amortization expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pekin Campus production |  | $ | 5,348 |  |  | $ | 5,328 |  |  | $ | 16,153 |  |  | $ | 15,733 |
Western production |  |  | 738 |  |  |  | 502 |  |  |  | 2,221 |  |  |  | 1,445 |
Corporate and other |  |  | 171 |  |  |  | 228 |  |  |  | 514 |  |  |  | 682 |
|  | $ | 6,257 |  |  | $ | 6,058 |  |  | $ | 18,888 |  |  | $ | 17,860 |
Interest expense, net of capitalized interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pekin Campus production |  | $ | 623 |  |  | $ | 496 |  |  | $ | 1,849 |  |  | $ | 1,083 |
Marketing and distribution |  |  | 86 |  |  |  | 98 |  |  |  | 249 |  |  |  | 291 |
Western production |  |  | 1,399 |  |  |  | 619 |  |  |  | 4,188 |  |  |  | 1,848 |
Corporate and other |  |  | 692 |  |  |  | 654 |  |  |  | 2,054 |  |  |  | 1,948 |
|  | $ | 2,800 |  |  | $ | 1,867 |  |  | $ | 8,340 |  |  | $ | 5,170 |
Schedule of Total Assets by Operating Segment | The following table sets forth the Company’s total assets by operating segment (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Total assets: |  |  |  |  |  |
Pekin Campus production |  | $ | 228,979 |  |  | $ | 223,934 |
Marketing and distribution |  |  | 97,855 |  |  |  | 102,895 |
Western production |  |  | 42,975 |  |  |  | 44,992 |
Corporate and other |  |  | 18,665 |  |  |  | 29,617 |
|  | $ | 388,474 |  |  | $ | 401,438 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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