Operating Segments

6 Months Ended

Jun. 30, 2018

At June 30, 2018 and 2017, the Company had two segments: distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol and distillery co-products, such as distillers feed (commonly called dried distillers grain in the industry) and fuel grade alcohol. The distillery products segment also includes warehouse services, including barrel put away, storage, retrieval, and blending services. Ingredient solutions consists of specialty starches and proteins and commodity starches and proteins.

Operating profit for each segment is based on net sales less identifiable operating expenses. Non-direct SG&A, interest expense, earnings from the Company's equity method investments until sold on July 3, 2017, other special charges, and other general miscellaneous expenses are excluded from segment operations and are classified as Corporate. Receivables, inventories, and equipment have been identified with the segments to which they relate. All other assets are considered as Corporate.



	Quarter Ended						Year to Date Ended
	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Net Sales to Customers
Distillery products	$	72,652		$	70,699		$	147,029		$	144,648
Ingredient solutions	15,600			15,054			29,179			28,274
Total	88,252			85,753			176,208			172,922
Gross Profit
Distillery products	16,680			15,953			32,550			32,568
Ingredient solutions	2,761			2,872			5,842			5,298
Total	19,441			18,825			38,392			37,866
Depreciation and Amortization
Distillery products	2,257			2,125			4,498			4,171
Ingredient solutions	379			416			813			824
Corporate	261			275			515			559
Total	2,897			2,816			5,826			5,554
Income (loss) before Income Taxes
Distillery products	14,777			14,131			28,954			29,649
Ingredient solutions	2,142			2,269			4,566			4,074
Corporate	(6,076		)	(7,084		)	(12,495		)	(12,875		)
Total	$	10,843		$	9,316		$	21,025		$	20,848

The following table allocates assets to each segment:



	As of June 30, 2018		As of December 31, 2017
Identifiable Assets
Distillery products	$	206,184	$	191,321
Ingredient solutions	35,202		28,950
Corporate	18,769		20,057
Total	$	260,155	$	240,328