Quarterly report pursuant to Section 13 or 15(d)

Segments

v3.4.0.3
Segments
3 Months Ended
Mar. 31, 2016
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 and co-products, with all eight of the Company’s production facilities aggregated, and (2) marketing and distribution, which includes marketing and merchant trading for Company-produced ethanol 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
March 31,
 
    2016     2015  
Net Sales:                
Ethanol production:                
Net sales from external customers   $ 229,241     $ 98,997  
Intersegment net sales            
Total segment revenues     229,241       98,997  
Marketing and distribution:                
Net sales from external customers     113,132       107,179  
Intersegment net sales     2,016       735  
Total segment net sales     115,148       107,914  
Net sales including intersegment activity     344,389       206,911  
Intersegment eliminations     (2,016 )     (735 )
Net sales as reported   $ 342,373     $ 206,176  
                 
Cost of goods sold:                
Ethanol production   $ 236,008     $ 101,537  
Marketing and distribution     109,297       108,059  
Intersegment eliminations     (4,001 )     (2,433 )
    $ 341,304     $ 207,163  
Income (loss) before provision for income taxes:                
Ethanol production   $ (17,322 )   $ (5,360 )
Marketing and distribution     3,969       (1,615 )
Corporate activities     127       (234 )
    $ (13,226 )   $ (7,209 )
Depreciation and amortization:                
Ethanol production   $ 8,415     $ 3,184  
Marketing and distribution     3       127  
Corporate activities     233       98  
    $ 8,651     $ 3,409  
Interest expense:                
Ethanol production   $ (5,900 )   $ (922 )
Marketing and distribution     (333 )     (93 )
Corporate activities            
    $ (6,233 )   $ (1,015 )

 

The following table sets forth the Company’s total assets by operating segment (in thousands):

 

    March 31, 2016     December 31, 2015  
Total assets:                
Ethanol production   $ 521,977     $ 536,013  
Marketing and distribution     106,137       107,069  
Corporate assets     15,085       31,598  
    $ 643,199     $ 674,680