Reportable Segments and Geographic Information

3 Months Ended

Mar. 31, 2016

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, due to the increasing activities surrounding its renewable chemicals business, the Company 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, the Company's reportable segments at March 31, 2016 and 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 the three months ended March 31, 2016 and 2015.

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:

	Three Months   Ended   March 31,   2016			Three Months   Ended   March 31,   2015
Net revenues:
Biomass-based Diesel (includes Petrotec's net sales of $36,995 and $29,993, respectively)	$	292,762		$	224,188
Services	20,737			15,471
Corporate and Other	16,988			7,342
Intersegment revenues	(24,893		)	(16,083		)
	$	305,594		$	230,918
Income (loss) before income taxes:
Biomass-based Diesel (includes Petrotec's income (loss) of $407 and ($1,048), respectively)	$	12,860		$	(31,676	)
Services	573			50
Renewable Chemicals	(4,681		)	(3,891		)
Corporate and other	(7,188		)	(3,684		)
	$	1,564		$	(39,201	)
Depreciation and amortization expense, net:
Biomass-based Diesel (includes Petrotec's amounts of $851 and $687, respectively)	$	6,929		$	4,971
Services	96			62
Renewable Chemicals	414			343
Corporate and other	396			350
	$	7,835		$	5,726
Cash paid for purchases of property, plant and equipment:
Biomass-based Diesel (includes Petrotec's amounts of $347 and $318, respectively)	$	13,604		$	10,410
Services	1,166			722
Renewable Chemicals	—			140
Corporate and other	—			906
	$	14,770		$	12,178

	As of March 31, 2016			As of December 31, 2015
Goodwill:
Services	$	16,080		$	16,080
Assets:
Biomass-based Diesel (including Petrotec's assets of $52,221 and $45,471, respectively)	$	1,003,250		$	1,048,923
Services	49,636			60,308
Renewable Chemicals	24,150			23,872
Corporate and other	366,739			308,782
Intersegment eliminations	$	(219,418	)	$	(218,265	)
	$	1,224,357		$	1,223,620

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.

	As of Three Months   Ended   March 31,   2016		As of Three Months   Ended   March 31,   2015
Net revenues:
United States	$	268,599	$	200,925
Foreign	36,995		29,993
	$	305,594	$	230,918

	As of As of, March 31, 2016		As of As of, December 31, 2015
Long-lived assets:
United States	$	579,544	$	553,987
Foreign	20,986		20,597
	$	600,530	$	574,584