| 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 March 31, |
|
| Net
Sales |
|
2019 |
|
|
2018 |
|
| Production, recorded as gross: |
|
|
|
|
|
|
| Ethanol/alcohol
sales |
|
$ |
179,388 |
|
|
$ |
219,628 |
|
| Co-product
sales |
|
|
68,806 |
|
|
|
74,534 |
|
| Intersegment
sales |
|
|
364 |
|
|
|
474 |
|
| Total
production sales |
|
|
248,558 |
|
|
|
294,636 |
|
| |
|
|
|
|
|
|
|
|
| Marketing and distribution: |
|
|
|
|
|
|
|
|
| Ethanol/alcohol
sales, gross |
|
$ |
107,154 |
|
|
$ |
105,429 |
|
| Ethanol/alcohol
sales, net |
|
|
455 |
|
|
|
436 |
|
| Intersegment
sales |
|
|
1,818 |
|
|
|
2,226 |
|
| Total
marketing and distribution sales |
|
|
109,427 |
|
|
|
108,091 |
|
| |
|
|
|
|
|
|
|
|
| Intersegment
eliminations |
|
|
(2,182 |
) |
|
|
(2,700 |
) |
| Net
sales as reported |
|
$ |
355,803 |
|
|
$ |
400,027 |
|
| |
|
|
|
|
|
|
|
|
| Cost
of goods sold: |
|
|
|
|
|
|
|
|
| Production |
|
$ |
258,594 |
|
|
$ |
298,431 |
|
| Marketing and distribution |
|
|
101,829 |
|
|
|
100,932 |
|
| Intersegment
eliminations |
|
|
(2,331 |
) |
|
|
(2,698 |
) |
| Cost
of goods sold, as reported |
|
$ |
358,092 |
|
|
$ |
396,665 |
|
| |
|
|
|
|
|
|
|
|
| Income
(loss) before benefit for income taxes: |
|
|
|
|
|
|
|
|
| Production |
|
$ |
(17,566 |
) |
|
$ |
(12,445 |
) |
| Marketing and distribution |
|
|
6,119 |
|
|
|
5,750 |
|
| Corporate
activities |
|
|
(2,714 |
) |
|
|
(3,365 |
) |
| |
|
$ |
(14,161 |
) |
|
$ |
(10,060 |
) |
| Depreciation
and amortization: |
|
|
|
|
|
|
|
|
| Production |
|
$ |
12,005 |
|
|
$ |
9,932 |
|
| Corporate
activities |
|
|
121 |
|
|
|
232 |
|
| |
|
$ |
12,126 |
|
|
$ |
10,164 |
|
| Interest
expense: |
|
|
|
|
|
|
|
|
| Production |
|
$ |
1,706 |
|
|
$ |
2,024 |
|
| Marketing and distribution |
|
|
588 |
|
|
|
363 |
|
| Corporate
activities |
|
|
2,442 |
|
|
|
2,118 |
|
| |
|
$ |
4,736 |
|
|
$ |
4,505 |
|
|
| Schedule of assets by operating segments |
The
following table sets forth the Company’s total assets by operating segment (in thousands):
| |
|
March
31,
2019 |
|
|
December
31,
2018 |
|
| Total
assets: |
|
|
|
|
|
|
|
|
| Production |
|
$ |
558,379 |
|
|
$ |
532,790 |
|
| Marketing and distribution |
|
|
123,552 |
|
|
|
112,984 |
|
| Corporate
assets |
|
|
17,090 |
|
|
|
14,117 |
|
| |
|
$ |
699,021 |
|
|
$ |
659,891 |
|
|