Annual report pursuant to Section 13 and 15(d)

Segments (Tables)

v3.24.0.1
Segments (Tables)
 12 Months Ended
Dec. 31, 2023
Segments [Abstract]  
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:   2023     2022     2021  
Pekin Campus production, recorded as gross:                  
Alcohol sales   $ 502,217     $ 521,273     $ 498,195  
Essential ingredient sales     217,702       225,871       189,535  
Intersegment sales     1,427       1,212       1,193  
Total Pekin Campus sales     721,346       748,356       688,923  
                         
Marketing and distribution:                        
Alcohol sales, gross   $ 262,587     $ 227,626     $ 379,422  
Alcohol sales, net     365       1,225       1,753  
Intersegment sales     11,654       12,459       10,061  
Total marketing and distribution sales     274,606       241,310       391,236  
                         
Western Production, recorded as gross:                        
Alcohol sales   $ 166,971     $ 253,605     $ 107,931  
Essential ingredient sales     57,264       90,209       31,056  
Intersegment sales     134       22       964  
Total Western production sales     224,369       343,836       139,951  
                         
Corporate and other     15,834       15,812       —  
                         
Intersegment eliminations     (13,215 )     (13,693 )     (12,218 )
Net sales as reported   $ 1,222,940     $ 1,335,621     $ 1,207,892  
                       
Cost of goods sold:                  
Pekin Campus production   $ 710,088     $ 772,755     $ 638,371  
Marketing and distribution     259,234       229,288       371,371  
Western production     230,445       353,775       136,401  
Corporate and other     12,122       12,167       —  
Intersegment eliminations     (4,602 )     (4,814 )     (6,035 )
Cost of goods sold as reported   $ 1,207,287     $ 1,363,171     $ 1,140,108  
                         
Income (loss) before provision for income taxes:                  
Pekin Campus production   $ (1,560 )   $ (27,376 )   $ 41,622  
Marketing and distribution     7,644       3,748       11,756  
Western production     (13,506 )     (7,209 )     (3,762 )
Corporate and other     (20,486 )     (8,835 )     (2,065 )
    $ (27,908 )   $ (39,672 )   $ 47,551  
Depreciation and amortization expense:                        
Pekin Campus production   $ 19,789     $ 19,136     $ 17,352  
Western production     2,381       5,085       5,890  
Corporate and other     910       874       50  
    $ 23,080     $ 25,095     $ 23,292  
                   
Interest expense, net of capitalized interest:                  
Pekin Campus production   $ (207 )   $ (381 )   $ 756  
Marketing and distribution     822       1,658       963  
Western production     1,164       (339 )     167  
Corporate and other     5,646       889       1,701  
    $ 7,425     $ 1,827     $ 3,587  

 
Schedule of Assets by Operating Segments The following table sets forth the Company’s total assets by operating segment (in thousands):
    December 31,
2023		     December 31,
2022		  
Total assets:            
Pekin Campus production   $ 251,048       257,089  
Marketing and distribution     101,196       114,755  
Western production     57,533       51,886  
Corporate and other     44,464       54,591  
    $ 454,241     $ 478,321