| Schedule of Financial Data for Operating Segments |
The following tables set forth certain financial data for the Company’s
operating segments (in thousands):
| |
|
Years Ended December 31, |
|
| Net Sales |
|
2024 |
|
|
2023 |
|
|
2022 |
|
| Pekin Campus production, recorded as gross: |
|
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
415,710 |
|
|
$ |
502,217 |
|
|
$ |
521,273 |
|
| Essential ingredient sales |
|
|
169,308 |
|
|
|
217,702 |
|
|
|
225,871 |
|
| Intersegment sales |
|
|
1,243 |
|
|
|
1,427 |
|
|
|
1,212 |
|
| Total Pekin Campus sales |
|
|
586,261 |
|
|
|
721,346 |
|
|
|
748,356 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Marketing and distribution: |
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales, gross |
|
$ |
216,295 |
|
|
$ |
262,587 |
|
|
$ |
227,626 |
|
| Alcohol sales, net |
|
|
229 |
|
|
|
365 |
|
|
|
1,225 |
|
| Intersegment sales |
|
|
10,833 |
|
|
|
11,654 |
|
|
|
12,459 |
|
| Total marketing and distribution sales |
|
|
227,357 |
|
|
|
274,606 |
|
|
|
241,310 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Western Production, recorded as gross: |
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
115,389 |
|
|
$ |
166,971 |
|
|
$ |
253,605 |
|
| Essential ingredient sales |
|
|
36,953 |
|
|
|
57,264 |
|
|
|
90,209 |
|
| Intersegment sales |
|
|
(122 |
) |
|
|
134 |
|
|
|
22 |
|
| Total Western production sales |
|
|
152,220 |
|
|
|
224,369 |
|
|
|
343,836 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate and other |
|
|
11,374 |
|
|
|
15,834 |
|
|
|
15,812 |
|
| Intersegment eliminations |
|
|
(11,954 |
) |
|
|
(13,215 |
) |
|
|
(13,693 |
) |
| Net sales as reported |
|
$ |
965,258 |
|
|
$ |
1,222,940 |
|
|
$ |
1,335,621 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold: |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
563,033 |
|
|
$ |
710,088 |
|
|
$ |
772,755 |
|
| Marketing and distribution |
|
|
213,023 |
|
|
|
259,234 |
|
|
|
229,288 |
|
| Western production |
|
|
172,209 |
|
|
|
230,445 |
|
|
|
353,775 |
|
| Corporate and other |
|
|
12,285 |
|
|
|
12,122 |
|
|
|
12,167 |
|
| Intersegment eliminations |
|
|
(5,014 |
) |
|
|
(4,602 |
) |
|
|
(4,814 |
) |
| Cost of goods sold as reported |
|
$ |
955,536 |
|
|
$ |
1,207,287 |
|
|
$ |
1,363,171 |
|
| |
|
|
|
|
|
|
|
|
|
| Gross profit (loss): |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
23,228 |
|
|
$ |
11,258 |
|
|
$ |
(24,399 |
) |
| Marketing and distribution |
|
|
14,334 |
|
|
|
15,372 |
|
|
|
12,022 |
|
| Western production |
|
|
(19,989 |
) |
|
|
(6,076 |
) |
|
|
(9,939 |
) |
| Corporate and other |
|
|
(911 |
) |
|
|
3,712 |
|
|
|
3,645 |
|
| Intersegment eliminations |
|
|
(6,940 |
) |
|
|
(8,613 |
) |
|
|
(8,879 |
) |
| |
|
$ |
9,722 |
|
|
$ |
15,653 |
|
|
$ |
(27,550 |
) |
| Income (loss) before provision for income taxes: |
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
6,308 |
|
|
$ |
(1,560 |
) |
|
$ |
(27,376 |
) |
| Marketing and distribution |
|
|
5,261 |
|
|
|
7,644 |
|
|
|
3,748 |
|
| Western production |
|
|
(51,086 |
) |
|
|
(13,506 |
) |
|
|
(7,209 |
) |
| Corporate and other |
|
|
(19,294 |
) |
|
|
(20,486 |
) |
|
|
(8,835 |
) |
| |
|
$ |
(58,811 |
) |
|
$ |
(27,908 |
) |
|
$ |
(39,672 |
) |
| Asset impairments: |
|
|
|
|
|
|
|
|
|
|
|
|
| Western production |
|
$ |
21,389 |
|
|
$ |
— |
|
|
$ |
— |
|
| Corporate and other |
|
|
3,401 |
|
|
|
6,544 |
|
|
|
— |
|
| |
|
$ |
24,790 |
|
|
$ |
6,544 |
|
|
$ |
— |
|
| Depreciation and amortization expense: |
|
|
|
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
21,017 |
|
|
$ |
19,789 |
|
|
$ |
19,136 |
|
| Western production |
|
|
2,409 |
|
|
|
2,381 |
|
|
|
5,085 |
|
| Corporate and other |
|
|
982 |
|
|
|
910 |
|
|
|
874 |
|
| |
|
$ |
24,408 |
|
|
$ |
23,080 |
|
|
$ |
25,095 |
|
| Interest expense, net of capitalized interest: |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
1,765 |
|
|
$ |
(207 |
) |
|
$ |
(381 |
) |
| Marketing and distribution |
|
|
389 |
|
|
|
822 |
|
|
|
1,658 |
|
| Western production |
|
|
2,829 |
|
|
|
1,164 |
|
|
|
(339 |
) |
| Corporate and other |
|
|
2,661 |
|
|
|
5,646 |
|
|
|
889 |
|
| |
|
$ |
7,644 |
|
|
$ |
7,425 |
|
|
$ |
1,827 |
|
|