| 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, |
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net
Sales |
|
|
|
|
|
|
|
|
|
|
|
|
| Production, recorded as gross: |
|
|
|
|
|
|
|
|
|
|
|
|
| Ethanol/alcohol
sales |
|
$ |
194,394 |
|
|
$ |
233,888 |
|
|
$ |
373,783 |
|
|
$ |
453,517 |
|
| Co-product
sales |
|
|
64,679 |
|
|
|
78,514 |
|
|
|
133,485 |
|
|
|
153,048 |
|
| Intersegment
sales |
|
|
421 |
|
|
|
539 |
|
|
|
784 |
|
|
|
1,013 |
|
| Total
production sales |
|
|
259,494 |
|
|
|
312,941 |
|
|
|
508,052 |
|
|
|
607,578 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Marketing
and distribution: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ethanol/alcohol
sales, gross |
|
$ |
86,754 |
|
|
$ |
97,634 |
|
|
$ |
193,908 |
|
|
$ |
203,063 |
|
| Ethanol/alcohol
sales, net |
|
|
474 |
|
|
|
486 |
|
|
|
928 |
|
|
|
921 |
|
| Intersegment
sales |
|
|
1,942 |
|
|
|
2,330 |
|
|
|
3,760 |
|
|
|
4,555 |
|
| Total
marketing and distribution sales |
|
|
89,170 |
|
|
|
100,450 |
|
|
|
198,596 |
|
|
|
208,539 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intersegment
eliminations |
|
|
(2,363 |
) |
|
|
(2,869 |
) |
|
|
(4,544 |
) |
|
|
(5,568 |
) |
| Net
sales as reported |
|
$ |
346,301 |
|
|
$ |
410,522 |
|
|
$ |
702,104 |
|
|
$ |
810,549 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost
of goods sold: |
|
|
|
|
|
|
|
|
|
|
|
|
| Production |
|
$ |
257,187 |
|
|
$ |
320,631 |
|
|
$ |
515,782 |
|
|
$ |
619,064 |
|
| Marketing
and distribution |
|
|
87,741 |
|
|
|
94,203 |
|
|
|
189,569 |
|
|
|
195,135 |
|
| Intersegment
eliminations |
|
|
(2,598 |
) |
|
|
(3,039 |
) |
|
|
(4,929 |
) |
|
|
(5,739 |
) |
| Cost
of goods sold as reported |
|
$ |
342,330 |
|
|
$ |
411,795 |
|
|
$ |
700,422 |
|
|
$ |
808,460 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
(loss) before benefit for income taxes: |
|
|
|
|
|
|
|
|
|
|
|
|
| Production |
|
$ |
(7,117 |
) |
|
$ |
(17,339 |
) |
|
$ |
(24,683 |
) |
|
$ |
(29,609 |
) |
| Marketing
and distribution |
|
|
(129 |
) |
|
|
4,929 |
|
|
|
5,989 |
|
|
|
10,677 |
|
| Corporate
activities |
|
|
(1,044 |
) |
|
|
(2,194 |
) |
|
|
(3,757 |
) |
|
|
(5,732 |
) |
| |
|
$ |
(8,290 |
) |
|
$ |
(14,604 |
) |
|
$ |
(22,451 |
) |
|
$ |
(24,664 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
and amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Production |
|
$ |
10,199 |
|
|
$ |
10,045 |
|
|
$ |
23,681 |
|
|
$ |
19,977 |
|
| Corporate
activities |
|
|
113 |
|
|
|
208 |
|
|
|
234 |
|
|
|
441 |
|
| |
|
$ |
10,312 |
|
|
$ |
10,253 |
|
|
$ |
23,915 |
|
|
$ |
20,418 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense: |
|
|
|
|
|
|
|
|
|
|
|
|
| Production |
|
$ |
2,048 |
|
|
$ |
1,700 |
|
|
$ |
3,755 |
|
|
$ |
3,724 |
|
| Marketing
and distribution |
|
|
774 |
|
|
|
336 |
|
|
|
1,362 |
|
|
|
699 |
|
| Corporate
activities |
|
|
2,293 |
|
|
|
2,141 |
|
|
|
4,734 |
|
|
|
4,259 |
|
|
|
$ |
5,115 |
|
|
$ |
4,177 |
|
|
$ |
9,851 |
|
|
$ |
8,682 |
|
|