| 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
September 30, |
|
|
Nine
Months Ended
September 30, |
|
| Net
Sales |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| Production, recorded
as gross: |
|
|
|
|
|
|
|
|
|
|
|
|
| Ethanol/alcohol
sales |
|
$ |
212,897 |
|
|
$ |
216,788 |
|
|
$ |
586,680 |
|
|
$ |
670,304 |
|
| Co-product
sales |
|
|
65,693 |
|
|
|
73,259 |
|
|
|
199,177 |
|
|
|
226,307 |
|
| Intersegment
sales |
|
|
403 |
|
|
|
518 |
|
|
|
1,187 |
|
|
|
1,531 |
|
| Total
production sales |
|
|
278,993 |
|
|
|
290,565 |
|
|
|
787,044 |
|
|
|
898,142 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Marketing and distribution: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ethanol/alcohol
sales, gross |
|
$ |
86,124 |
|
|
$ |
79,877 |
|
|
$ |
280,032 |
|
|
$ |
282,940 |
|
| Ethanol/alcohol
sales, net |
|
|
446 |
|
|
|
483 |
|
|
|
1,375 |
|
|
|
1,405 |
|
| Intersegment
sales |
|
|
2,079 |
|
|
|
2,201 |
|
|
|
5,839 |
|
|
|
6,757 |
|
| Total
marketing and distribution sales |
|
|
88,649 |
|
|
|
82,561 |
|
|
|
287,246 |
|
|
|
291,102 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intersegment
eliminations |
|
|
(2,482 |
) |
|
|
(2,719 |
) |
|
|
(7,026 |
) |
|
|
(8,288 |
) |
| Net
sales as reported |
|
$ |
365,160 |
|
|
$ |
370,407 |
|
|
$ |
1,067,264 |
|
|
$ |
1,180,956 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost
of goods sold: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Production |
|
$ |
294,888 |
|
|
$ |
295,574 |
|
|
$ |
810,670 |
|
|
$ |
914,638 |
|
| Marketing
and distribution |
|
|
87,976 |
|
|
|
73,784 |
|
|
|
277,545 |
|
|
|
268,917 |
|
| Intersegment
eliminations |
|
|
(2,888 |
) |
|
|
(2,719 |
) |
|
|
(7,817 |
) |
|
|
(8,456 |
) |
| Cost
of goods sold as reported |
|
$ |
379,976 |
|
|
$ |
366,639 |
|
|
$ |
1,080,398 |
|
|
$ |
1,175,099 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income
(loss) before benefit for income taxes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Production |
|
$ |
(25,999 |
) |
|
$ |
(15,571 |
) |
|
$ |
(50,682 |
) |
|
$ |
(45,355 |
) |
| Marketing
and distribution |
|
|
(998 |
) |
|
|
7,416 |
|
|
|
4,991 |
|
|
|
18,095 |
|
| Corporate
activities |
|
|
(2,076 |
) |
|
|
(1,149 |
) |
|
|
(5,833 |
) |
|
|
(6,708 |
) |
| |
|
$ |
(29,073 |
) |
|
$ |
(9,304 |
) |
|
$ |
(51,524 |
) |
|
$ |
(33,968 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation
and amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Production |
|
$ |
11,833 |
|
|
$ |
10,040 |
|
|
$ |
35,390 |
|
|
$ |
30,017 |
|
| Corporate
activities |
|
|
195 |
|
|
|
177 |
|
|
|
554 |
|
|
|
618 |
|
| |
|
$ |
12,028 |
|
|
$ |
10,217 |
|
|
$ |
35,944 |
|
|
$ |
30,635 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest
expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Production |
|
$ |
1,969 |
|
|
$ |
1,692 |
|
|
$ |
5,724 |
|
|
$ |
5,416 |
|
| Marketing
and distribution |
|
|
929 |
|
|
|
344 |
|
|
|
2,291 |
|
|
|
1,042 |
|
| Corporate
activities |
|
|
2,265 |
|
|
|
2,157 |
|
|
|
6,999 |
|
|
|
6,417 |
|
| |
|
$ |
5,163 |
|
|
$ |
4,193 |
|
|
$ |
15,014 |
|
|
$ |
12,875 |
|
|