Reportable Segments and Geographic Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Reportable Segments and Geographic Information

REPORTABLE SEGMENTS AND GEOGRAPHIC INFORMATION

The Company reports its reportable segments based on products and services provided to customers. The Company re-assesses its reportable segment on an annual basis. During the fourth quarter of 2015, the Company determined that as activities surrounding its renewable chemicals business increase, it changed the composition of its operating segments from two reportable segments to three reportable segments by presenting Renewable Chemicals separate from Biomass-based diesel. The new reportable segments generally align the Company's external financial reporting segments with its new internal operating segments, which are based on its internal organizational structure, operating decisions, and performance assessment. As such, our reportable segments at December 31, 2015 include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. All prior period disclosures below have been recast to present results on a comparable basis.

The Biomass-based diesel segment processes waste vegetable oils, animal fats, virgin vegetable oils and other feedstocks and methanol into biomass-based diesel. The Biomass-based diesel segment also includes the Company’s purchases and resale of biomass-based diesel produced by third parties. Revenue is derived from the purchases and sales of biomass-based diesel, RINs and raw material feedstocks acquired from third parties, sales of biomass-based diesel produced under toll manufacturing arrangements with third party facilities, sales of processed biomass-based diesel from Company facilities, related by-products and renewable energy government incentive payments, in the U.S. and internationally.

The Services segment offers services for managing the construction of biomass-based diesel production facilities and managing ongoing operations of third party plants and collects fees related to the services provided. The Company does not allocate items that are of a non-operating nature or corporate expenses to the business segments. Revenues are recorded by the Services segment at cost.

The Renewable Chemicals segment consists of research and development activities involving the production of renewable chemicals, additional advanced biofuels and other products from the Company's proprietary microbial fermentation process and the operations of a demonstration scale facility located in Okeechobee, Florida. No revenues were recorded by the Renewable Chemicals segment during 2015 or 2014.

The Corporate and Other segment includes trading activities related to petroleum-based heating oil and diesel fuel as well as corporate activities, which consist of corporate office expenses such as compensation, benefits, occupancy and other administrative costs, including management service expenses. Corporate and other also includes income/(expense) not associated with the reportable segments, such as corporate general and administrative expenses, shared service expenses, interest expense and interest income, all reflected on an accrual basis of accounting. In addition, corporate and other includes cash and other assets not associated with the reportable segments, including investments. Intersegment revenues are reported by the Services and Corporate and Other segments.

The following table represents the significant items by reportable segment for the results of operations for the years ended December 31, 2015, 2014 and 2013:

	2015			2014			2013
Net sales:
Biomass-based Diesel (includes Petrotec's net sales of $145,039, $3,563 and $0, respectively)	$	1,326,452		$	1,264,850		$	1,500,580
Services	102,731			85,149			56,121
Corporate and other	68,984			11,940			—
Intersegment revenues	(110,823		)	(88,108		)	(58,563		)
	$	1,387,344		$	1,273,831		$	1,498,138
Income (loss) before income taxes
Biomass-based diesel (includes Petrotec's losses of $(1,643), $(337) and $0, respectively)	$	(100,152	)	$	104,136		$	201,114
Services	6,323			6,980			3,851
Renewable Chemicals	(52,728		)	(12,252		)	—
Corporate and other	(13,854		)	(12,754		)	(13,664		)
	$	(160,411	)	$	86,110		$	191,301
Depreciation and amortization expense, net:
Biomass-based diesel (includes Petrotec's amounts of $3,259, $0, $0, respectively)	$	22,799		$	13,497		$	8,611
Services	302			204			120
Renewable Chemicals	1,413			1,293			—
Corporate and other	1,362			802			511
	$	25,876		$	15,796		$	9,242
Cash paid for purchases of property, plant and equipment:
Biomass-based diesel (includes Petrotec's amounts of $1,816, $0, $0, respectively)	$	59,859		$	52,846		$	36,770
Services	1,510			643			504
Renewable Chemicals	672			532			—
Corporate and other	2,436			6,142			1,779
	$	64,477		$	60,163		$	39,053

	2015			2014
Goodwill:
Biomass-based diesel	$	—		$	137,348
Services	16,080			16,080
Renewable Chemicals	—			34,847
	$	16,080		$	188,275
Assets:
Biomass-based diesel (including Petrotec's assets of $45,471 and $56,960)	$	1,048,923		$	1,150,851
Services	60,308			46,560
Renewable Chemicals	23,872			59,134
Corporate and other	308,782			235,823
Intersegment eliminations	$	(218,265	)	$	(124,632	)
	$	1,223,620		$	1,367,736

Geographic Information:

The following geographic data include net sales attributed to the countries based on the location of the subsidiary making the sale and long-lived assets based on physical location. Long-lived assets represent the net book value of property, plant and equipment. Sales and long-lived assets of the Company's investment in Petrotec comprise substantially all of the amounts categorized as Foreign in the table below.

			2015		2014		2013
Net sales:
United States			$	1,242,305	$	1,270,268	$	1,498,138
Foreign			145,039		3,563		—
			$	1,387,344	$	1,273,831	$	1,498,138
	2015				2014
Long-lived assets:
United States	$	553,987			$	468,170
Foreign	20,597				25,026
	$	574,584			$	493,196