Quarterly report pursuant to Section 13 or 15(d)

Segments (Tables)

v3.23.2
Segments (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Schedule of Financial Data for Operating Segments The following tables set forth certain financial data for the Company’s operating segments (in thousands):
    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2023     2022     2023     2022  
Net Sales                        
Pekin Campus, recorded as gross:                        
Alcohol sales   $ 127,694     $ 143,768     $ 260,075     $ 259,818  
Essential ingredient sales     53,954       59,853       117,585       115,133  
Intersegment sales     444       269       757       525  
Total Pekin Campus sales     182,092       203,890       378,417       375,476  
                                 
Marketing and distribution:                                
Alcohol sales, gross   $ 72,589     $ 63,558     $ 156,936     $ 117,484  
Alcohol sales, net     104       317       218       668  
Intersegment sales     2,499       3,242       5,342       6,239  
Total marketing and distribution sales     75,192       67,117       162,496       124,391  
                                 
Other production, recorded as gross:                                
Alcohol sales   $ 44,384     $ 67,184     $ 65,316     $ 126,991  
Essential ingredient sales     14,421       23,372       22,773       42,309  
Intersegment sales     62      
—
       62       12  
Total Other production sales     58,867       90,556       88,151       169,312  
                                 
Corporate and other     4,151       4,137       8,285       7,904  
Intersegment eliminations     (3,005 )     (3,511 )     (6,161 )     (6,776 )
Net sales as reported   $ 317,297     $ 362,189     $ 631,188     $ 670,307  
                                 
Cost of goods sold:                                
Pekin Campus   $ 168,419     $ 195,691     $ 366,596     $ 364,573  
Marketing and distribution     71,746       63,796       154,871       118,510  
Other production     57,834       91,606       91,815       169,851  
Corporate and other     3,414       3,197       5,786       6,070  
Intersegment eliminations     (1,297 )     (945 )     (1,897 )     (2,314 )
Cost of goods sold as reported   $ 300,116     $ 353,345     $ 617,171     $ 656,690  
                                 
Gross profit:                                
Pekin Campus   $ 13,673     $ 8,199     $ 11,821     $ 10,903  
Marketing and distribution     3,446       3,321       7,625       5,881  
Other production     1,033       (1,050 )     (3,664 )     (539 )
Corporate and other     737       940       2,499       1,834  
Intersegment eliminations     (1,708 )     (2,566 )     (4,264 )     (4,462 )
Gross profit as reported   $ 17,181     $ 8,844     $ 14,017     $ 13,617  
                                 
Income (loss) before provision for income taxes:                                
Pekin Campus   $ 10,790     $ 16,331     $ 5,672     $ 16,413  
Marketing and distribution     1,607       1,036       3,618       1,824  
Other production     (783 )     7,570       (6,484 )     6,361  
Corporate and other     (4,019 )     (2,822 )     (8,377 )     (5,085 )
    $ 7,595     $ 22,115     $ (5,571 )   $ 19,513  
Depreciation and amortization of intangibles:                                
Pekin Campus   $ 4,998     $ 5,084     $ 9,816     $ 9,621  
Other production     455       1,458       1,464       2,822  
Corporate and other     228       186       455       419  
    $ 5,681     $ 6,728     $ 11,735     $ 12,862  
Interest expense, net of capitalized interest:                                
Pekin Campus   $ (151 )   $ (3 )   $ (635 )   $ (33 )
Marketing and distribution     109       336       604       573  
Other production     (151 )     (39 )     (508 )     (54 )
Corporate and other     1,927       25       3,838       33  
    $ 1,734     $ 319     $ 3,299     $ 519  

 
Schedule of Assets by Operating Segments The following table sets forth the Company’s total assets by operating segment (in thousands):
    June 30,
2023		     December 31,
2022		  
Total assets:            
Pekin Campus   $ 253,220     $ 257,089  
Marketing and distribution     122,368       114,755  
Other production     54,326       51,886  
Corporate and other     41,496       54,591  
    $ 471,410     $ 478,321