Subsequent Events |
12 Months Ended | ||
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Dec. 31, 2024 | |||
| Subsequent Events [Abstract] | |||
| SUBSEQUENT EVENTS |
On January 1, 2025, the Company’s wholly-owned subsidiary, Alto Carbonic, LLC, acquired 100% of the equity interests in Kodiak Carbonic, LLC, a beverage-grade liquid CO2 processor for $7.6 million in cash. The transaction also involved an improved, long-term sales contract with a third party for the sale of beverage-grade liquid CO2, which will improve the financial results of the production facility. Alto Carbonic’s facility is co-located at the Columbia ethanol facility. Based on its preliminary assessment, the Company expects to record at fair value $3.9 million in property and equipment and $3.7 million of intangible assets related to the long-term sales contract. The Company does not expect to record any goodwill with the transaction and plans to report the results of Alto Carbonic in the Company’s Western Production segment. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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