| 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):
| |
|
Years Ended December 31, |
|
| Net Sales |
|
2025 |
|
|
2024 |
|
|
2023 |
|
| Pekin Campus Production, recorded as gross: |
|
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
415,801 |
|
|
$ |
415,710 |
|
|
$ |
502,217 |
|
| Essential ingredient sales |
|
|
174,598 |
|
|
|
169,308 |
|
|
|
217,702 |
|
| Intersegment sales |
|
|
1,088 |
|
|
|
1,243 |
|
|
|
1,427 |
|
| Total Pekin Campus sales |
|
|
591,487 |
|
|
|
586,261 |
|
|
|
721,346 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Marketing and distribution: |
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales, gross |
|
$ |
221,306 |
|
|
$ |
216,524 |
|
|
$ |
262,952 |
|
| Intersegment sales |
|
|
9,827 |
|
|
|
10,833 |
|
|
|
11,654 |
|
| Total marketing and distribution sales |
|
|
231,133 |
|
|
|
227,357 |
|
|
|
274,606 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Western production, recorded as gross: |
|
|
|
|
|
|
|
|
|
|
|
|
| Alcohol sales |
|
$ |
67,301 |
|
|
$ |
115,389 |
|
|
$ |
166,971 |
|
| Essential ingredient sales |
|
|
31,552 |
|
|
|
36,953 |
|
|
|
57,264 |
|
| Intersegment sales |
|
|
1,697 |
|
|
|
(122 |
) |
|
|
134 |
|
| Total Western production sales |
|
|
100,550 |
|
|
|
152,220 |
|
|
|
224,369 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Corporate and other |
|
|
7,369 |
|
|
|
11,374 |
|
|
|
15,834 |
|
| Intersegment eliminations |
|
|
(12,612 |
) |
|
|
(11,954 |
) |
|
|
(13,215 |
) |
| Net sales as reported |
|
$ |
917,927 |
|
|
$ |
965,258 |
|
|
$ |
1,222,940 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold: |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
572,134 |
|
|
$ |
563,033 |
|
|
$ |
710,088 |
|
| Marketing and distribution |
|
|
214,095 |
|
|
|
213,023 |
|
|
|
259,234 |
|
| Western production |
|
|
96,897 |
|
|
|
172,209 |
|
|
|
230,445 |
|
| Corporate and other |
|
|
6,689 |
|
|
|
12,285 |
|
|
|
12,122 |
|
| Intersegment eliminations |
|
|
(6,801 |
) |
|
|
(5,014 |
) |
|
|
(4,602 |
) |
| Cost of goods sold as reported |
|
$ |
883,014 |
|
|
$ |
955,536 |
|
|
$ |
1,207,287 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Gross profit (loss): |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
19,353 |
|
|
$ |
23,228 |
|
|
$ |
11,258 |
|
| Marketing and distribution |
|
|
17,038 |
|
|
|
14,334 |
|
|
|
15,372 |
|
| Western production |
|
|
3,653 |
|
|
|
(19,989 |
) |
|
|
(6,076 |
) |
| Corporate and other |
|
|
680 |
|
|
|
(911 |
) |
|
|
3,712 |
|
| Intersegment eliminations |
|
|
(5,811 |
) |
|
|
(6,940 |
) |
|
|
(8,613 |
) |
| |
|
$ |
34,913 |
|
|
$ |
9,722 |
|
|
$ |
15,653 |
|
Income
(loss) before provision (benefit) for income taxes: |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
15,059 |
|
|
$ |
6,308 |
|
|
$ |
(1,560 |
) |
| Marketing and distribution |
|
|
7,698 |
|
|
|
5,261 |
|
|
|
7,644 |
|
| Western production |
|
|
(4,291 |
) |
|
|
(51,086 |
) |
|
|
(13,506 |
) |
| Corporate and other |
|
|
(5,749 |
) |
|
|
(19,294 |
) |
|
|
(20,486 |
) |
| |
|
$ |
12,717 |
|
|
$ |
(58,811 |
) |
|
$ |
(27,908 |
) |
| Asset impairments: |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
803 |
|
|
$ |
— |
|
|
$ |
— |
|
| Western production |
|
|
— |
|
|
|
21,389 |
|
|
|
— |
|
| Corporate and other |
|
|
— |
|
|
|
3,401 |
|
|
|
6,544 |
|
| |
|
$ |
803 |
|
|
$ |
24,790 |
|
|
$ |
6,544 |
|
Depreciation and amortization
expense: |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
21,620 |
|
|
$ |
21,017 |
|
|
$ |
19,789 |
|
| Western production |
|
|
2,957 |
|
|
|
2,409 |
|
|
|
2,381 |
|
| Corporate and other |
|
|
639 |
|
|
|
982 |
|
|
|
910 |
|
| |
|
$ |
25,216 |
|
|
$ |
24,408 |
|
|
$ |
23,080 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense, net of capitalized interest: |
|
|
|
|
|
|
|
|
|
| Pekin Campus production |
|
$ |
2,421 |
|
|
$ |
1,765 |
|
|
$ |
(207 |
) |
| Marketing and distribution |
|
|
342 |
|
|
|
389 |
|
|
|
822 |
|
| Western production |
|
|
5,391 |
|
|
|
2,829 |
|
|
|
1,164 |
|
| Corporate and other |
|
|
2,611 |
|
|
|
2,661 |
|
|
|
5,646 |
|
| |
|
$ |
10,765 |
|
|
$ |
7,644 |
|
|
$ |
7,425 |
|
|