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Segments
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segments

18. Segments

We have determined that we have two operating segments: (i) Gevo, Inc. segment; and (ii) Gevo Development/Agri-Energy segment. We organize our business segments based on the nature of the products and services offered through each of our consolidated legal entities. Transactions between segments are eliminated in consolidation.

Gevo Segment. Our Gevo segment is responsible for all research and development activities related to the future production of isobutanol, including the development of our proprietary biocatalysts, the production and sale of biojet fuel, our Retrofit process and the next generation of chemicals and biofuels that will be based on our isobutanol technology. Our Gevo segment also develops, maintains and protects our intellectual property portfolio, develops future markets for our isobutanol and provides corporate oversight services.

Gevo Development/Agri-Energy Segment. Our Gevo Development/Agri-Energy segment is currently responsible for the operation of our Agri-Energy Facility and the production of ethanol, isobutanol and related products.

The Company’s chief operating decision maker is provided with and reviews the financial results of each of the Company’s consolidated legal entities, Gevo, Inc., Gevo Development, LLC, and Agri-Energy, LLC. The Company organizes its business segments based on the nature of the products and services offered through each of its consolidated legal entities. All revenue is earned, and all assets are held, in the U.S.

 

 

Year Ended December 31,

 

 

2016

 

 

2015

 

 

2014

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

Gevo

$

2,425

 

 

$

2,911

 

 

$

4,718

 

Gevo Development / Agri-Energy

 

24,788

 

 

 

27,226

 

 

 

23,548

 

Consolidated

$

27,213

 

 

$

30,137

 

 

$

28,266

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations:

 

 

 

 

 

 

 

 

 

 

 

Gevo

$

(11,045

)

 

$

(19,723

)

 

$

(26,567

)

Gevo Development / Agri-Energy

 

(12,940

)

 

 

(12,204

)

 

 

(13,210

)

Consolidated

$

(23,985

)

 

$

(31,927

)

 

$

(39,777

)

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

Gevo

$

7,789

 

 

$

8,147

 

 

$

10,446

 

Gevo Development / Agri-Energy

 

48

 

 

 

96

 

 

 

1,578

 

Consolidated

$

7,837

 

 

$

8,243

 

 

$

12,024

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization expense:

 

 

 

 

 

 

 

 

 

 

 

Gevo

$

738

 

 

$

856

 

 

$

937

 

Gevo Development / Agri-Energy

 

6,009

 

 

 

5,717

 

 

 

3,943

 

Consolidated

$

6,747

 

 

$

6,573

 

 

$

4,880

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisitions of plant, property and equipment:

 

 

 

 

 

 

 

 

 

 

 

Gevo

$

350

 

 

$

7

 

 

$

116

 

Gevo Development / Agri-Energy

 

5,588

 

 

 

1,457

 

 

 

4,778

 

Consolidated

$

5,938

 

 

$

1,464

 

 

$

4,894

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

 

 

 

2016

 

 

2015

 

 

 

 

 

Total assets:

 

 

 

 

 

 

 

 

 

 

 

Gevo

$

110,072

 

 

$

100,394

 

 

 

 

 

Gevo Development / Agri-Energy

 

156,749

 

 

 

157,661

 

 

 

 

 

Intercompany eliminations (1)

 

(154,497

)

 

 

(155,224

)

 

 

 

 

Consolidated (2)

$

112,324

 

 

$

102,831

 

 

 

 

 

 

 

(1)

Includes intercompany sales of $0.2 million of hydrocarbon sales.

 

(2)

All other significant non-cash items relate to the activities of Gevo