FutureFuel (FF) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 09, 2017
Document Information [Line Items]
Entity Registrant Name	FUTUREFUEL CORP.
Entity Central Index Key	1,337,298
Trading Symbol	ff
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		43,749,970
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 111,010	$ 199,272
Accounts receivable, inclusive of the blenders' tax credit of $0 and $5,495 and net of allowances for bad debt of $0 and $0, at June 30, 2017 and December 31, 2016, respectively	18,746	24,359
Accounts receivable – related parties	2,958	385
Inventory	36,889	52,093
Income tax receivable	16,246	20,508
Prepaid expenses	1,068	1,694
Prepaid expenses – related parties	19	12
Marketable securities	120,728	106,146
Deferred financing costs	144	144
Other current assets	395	669
Total current assets	308,203	405,282
Property, plant and equipment, net	113,868	118,152
Intangible assets	1,408	1,408
Deferred financing costs	253	325
Other assets	3,857	3,876
Total noncurrent assets	119,386	123,761
Total Assets	427,589	529,043
Liabilities and Stockholders’ Equity
Accounts payable	17,649	22,799
Accounts payable – related parties	1,779	1,254
Deferred revenue – short-term	6,061	5,530
Contingent liability – short-term	1,151	1,151
Dividends payable	5,250	110,688
Accrued expenses and other current liabilities	3,855	2,485
Accrued expenses and other current liabilities – related parties		142
Total current liabilities	35,745	144,049
Deferred revenue – long-term	14,289	16,792
Other noncurrent liabilities	3,374	3,325
Noncurrent deferred income tax liability	32,438	32,064
Total noncurrent liabilities	50,101	52,181
Total liabilities	85,846	196,230
Commitments and contingencies:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding
Common stock, $0.0001 par value, 75,000,000 shares authorized, 43,749,970 and 43,749,970, issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	4	4
Accumulated other comprehensive income	7,499	3,540
Additional paid in capital	281,828	281,087
Retained earnings	52,412	48,182
Total stockholders’ equity	341,743	332,813
Total Liabilities and Stockholders’ Equity	$ 427,589	$ 529,043

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Blenders' tax credit	$ 0	$ 5,495
Allowance for bad debt	$ 0	$ 0
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	43,749,970	43,749,970
Common stock, shares outstanding (in shares)	43,749,970	43,749,970

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue	$ 67,972	$ 65,842	$ 121,620	$ 109,046
Revenues – related parties	76	2,037	539	5,468
Cost of goods sold	60,227	57,118	104,381	90,276
Cost of goods sold – related parties	5,217	1,914	8,115	3,435
Distribution	769	768	1,658	1,565
Distribution – related parties	37	107	77	213
Gross profit	1,798	7,972	7,928	19,025
Selling, general, and administrative expenses
Compensation expense	1,030	1,277	2,294	2,443
Other expense	505	540	1,085	1,163
Related party expense	44	41	100	89
Research and development expenses	845	738	1,600	1,425
Total expenses	2,424	2,596	5,079	5,120
Income/(loss) from operations	(626)	5,376	2,849	13,905
Interest and dividend income	1,991	1,464	3,714	2,809
Interest expense	(43)	(42)	(86)	(85)
Gain/(loss) on marketable securities	(438)	613	(569)	(405)
Other expense	(2)	(104)	(33)	(220)
Total other income/(expense)	1,508	1,931	3,026	2,099
Income before income taxes	882	7,307	5,875	16,004
Provision/(benefit) for income taxes	48	(6,917)	1,645	(8,789)
Net income	$ 834	$ 14,224	$ 4,230	$ 24,793
Earnings per common share
Earnings per common share, basic (in dollars per share)	$ 0.02	$ 0.33	$ 0.10	$ 0.57
Earnings per common share, diluted (in dollars per share)	$ 0.02	$ 0.33	$ 0.10	$ 0.57
Weighted average shares outstanding
Weighted average shares outstanding, basic (in shares)	43,665,171	43,527,857	43,641,038	43,501,599
Weighted average shares outstanding, diluted (in shares)	43,675,688	43,528,759	43,649,400	43,507,509
Comprehensive Income
Net income	$ 834	$ 14,224	$ 4,230	$ 24,793
Other comprehensive income from unrealized net gain on available-for-sale securities	3,210	1,349	6,096	2,027
Income tax effect	(1,126)	(472)	(2,137)	(710)
Total unrealized gain, net of tax	2,084	877	3,959	1,317
Comprehensive income	$ 2,918	$ 15,101	$ 8,189	$ 26,110

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows provided by operating activities
Net income	$ 4,230	$ 24,793
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	5,808	5,257
Amortization of deferred financing costs	72	72
Benefit for deferred income taxes	(1,763)	(4,969)
Change in fair value of derivative instruments	318	4,869
Other than temporary impairment of marketable securities	177	1,879
Impairment of fixed assets	9	178
Gain/(loss) on the sale of investments	392	(1,474)
Stock based compensation	750	954
Losses on disposals of fixed assets	77	137
Noncash interest expense	13	22
Changes in operating assets and liabilities:
Accounts receivable	5,613	21,708
Accounts receivable – related parties	(2,573)	(23)
Inventory	15,204	6,240
Income tax receivable	4,262	(2,818)
Prepaid expenses	626	589
Prepaid expenses - related party	(7)
Accrued interest on marketable securities	(11)	(104)
Other assets	19	(321)
Accounts payable	(5,150)	(17,948)
Accounts payable - related parties	525	1,584
Accrued expenses and other current liabilities	1,370	2,470
Accrued expenses and other current liabilities - related parties	(142)
Deferred revenue	(1,972)	2,933
Other noncurrent liabilities	112
Net cash provided by operating activities	27,959	46,028
Cash flows from investing activities
Collateralization of derivative instruments	(34)	(3,011)
Purchase of marketable securities	(19,322)	(32,299)
Proceeds from the sale of marketable securities	10,268	16,524
Capital expenditures	(1,686)	(2,254)
Net cash used in investing activities	(10,774)	(21,040)
Cash flows from financing activities
Minimum tax withholding on stock options exercised and awards vested	(8)	(55)
Excess tax benefits associated with stock options and awards	(1)	(136)
Payment of dividends	(105,438)	(5,246)
Net cash used in financing activities	(105,447)	(5,437)
Net change in cash and cash equivalents	(88,262)	19,551
Cash and cash equivalents at beginning of period	199,272	154,049
Cash and cash equivalents at end of period	111,010	173,600
Cash paid for interest
Cash paid for income taxes	$ 55	$ 985

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	1 ) NATURE OF OPERATIONS AND BASIS OF PRESENTATION Organization FutureFuel Corp. (“FutureFuel”), through its wholly-owned subsidiary, FutureFuel Chemical Company (“FutureFuel Chemical”), owns and operates a chemical production facility located on approximately 2,200 six ’s operations are reported in two The chemicals segment manufactures a diversified portfolio of chemical products that are sold to third The biofuels business segment primarily produces and sells biodiesel. FutureFuel Chemical also sells petrodiesel in blends with the company ’s biodiesel and, from time to time, with no Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared by FutureFuel in accordance and consistent with the accounting policies stated in FutureFuel ’s 2016 2016 In the opinion of FutureFuel, all normal recurring adjustments necessary for a fair presentation have been included in the unaudited consolidated financial statements. The unaudited consolidated financial statements have been prepared in compliance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with instructions to Form 10 not

Note 2 - Inventory

Note 2 - Inventory	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	2 ) INVENTORY The carrying values of inventory were as follows as of: June 30, 2017 December 31, 2016 At average cost (approximates current cost) Finished goods $ 21,279 $ 27,971 Work in process 2,046 1,913 Raw materials and supplies 21,630 25,127 44,955 55,011 LIFO reserve (8,066 ) (2,918 ) Total inventory $ 36,889 $ 52,093 FutureFuel recorded a lower of co st or market ("LCM") adjustment of $957 three six June 30, 2017. three six June 30, 2016, $1,895.

Note 3 - Derivative Instruments

Note 3 - Derivative Instruments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	3 ) DERIVATIVE INSTRUMENTS FutureFuel is exposed to certain risks relating to its ongoing business operations. Commodity price risk is the primary risk managed by using derivative instruments. Regulated fixed price futures and option contracts are utilized to manage the price risk associated with future purchases of feedstock used in FutureFuel ’s biodiesel production along with physical feedstock and finished product inventories attributed to this process. FutureFuel recognizes all derivative instruments as either assets or liabilities at fair value in its consolidated balance sheets. FutureFuel ’s derivative instruments do not 815 20 25, Derivatives and Hedging None The fair value of FutureFuel ’s derivative instruments is determined based on the closing prices of the derivative instruments on relevant commodity exchanges at the end of an accounting period. Realized gains and losses on derivative instruments and changes in fair value of the derivative instruments are recorded in the statements of operations as a component of cost of goods sold, and amounted to a gain of $524 $5,139 three June 30, 2017 2016, $1,803 $6,178 six June 30, 2017 2016, The volumes and carrying values of FutureFuel ’s derivative instruments were as follows at: June 30, 2017 December 31, 2016 Quantity (contracts) Short Fair Value Quantity (contracts) Short Fair Value Regulated options, included in other current assets 75 $ (520 ) - $ - Regulated fixed price future commitments, included in other current assets 35 $ (58 ) 135 $ (258 ) The margin account maintained with a broker to collateralize these derivative instruments carried an account balance of $793 $758 June 30, 2017 December 31, 2016,

Note 4 - Marketable Securities

Note 4 - Marketable Securities	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	4 ) MARKETABLE SECURITIES At June 30, 2017 December 31, 2016, FutureFuel ’s marketable securities were comprised of the following at June 30, 2017 December 31, 2016: June 30, 2017 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Equity instruments $ 45,596 $ 7,552 $ (318 ) $ 52,830 Preferred stock 55,927 4,360 (3 ) 60,284 Trust preferred securities 3,147 40 - 3,187 Exchange traded debt instruments 4,154 273 - 4,427 Total $ 108,824 $ 12,225 $ (321 ) $ 120,728 December 31, 2016 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Equity instruments $ 32,667 $ 5,549 $ (304 ) $ 37,912 Preferred stock 57,105 1,196 (698 ) 57,603 Trust preferred securities 3,147 - (9 ) 3,138 Exchange traded debt instruments 7,420 99 (26 ) 7,493 Total $ 100,339 $ 6,844 $ (1,037 ) $ 106,146 The aggregate fair value of instruments with unrealized losses totaled $8,964 and $31,126 June 30, 2017 December 31, 2016, June 30, 2017 December 31, 2016, no 12

Note 5 - Accrued Expenses and O

Note 5 - Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	5 ) ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities, including those associated with related parties, consisted of the following at: June 30, 2017 December 31, 2016 Accrued employee liabilities $ 1,529 $ 864 Accrued property, franchise, motor fuel and other taxes 1,978 1,428 Other 348 335 Total $ 3,855 $ 2,627

Note 6 - Borrowings

Note 6 - Borrowings	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	6 ) BORROWINGS On April 16, 2015, ’s other subsidiaries, as guarantors, entered into a $150,000 May 25, 2016, $15,000. five $165,000, $30,000 $15,000 The interest rate floats at the following margins over LIBOR or base rate based upon the leverage ratio from time to time: Consolidated Leverage Ratio Adjusted LIBOR Rate Loans and Letter of Credit Fee Base Rate Loans Commitment Fee < 1.00:1.0 1.25% 0.25% 0.15% ≥ 1.00:1.0 And < 1.50:1.0 1.50% 0.50% 0.20% ≥ 1.50:1.0 And < 2.00:1.0 1.75% 0.75% 0.25% ≥ 2.00:1.0 And < 2.50:1.0 2.00% 1.00% 0.30% ≥ 2.50:1.0 2.25% 1.25% 0.35% The terms of the Credit Facility contain certain covenants and conditions including a maximum consolidated leverage ratio, a minimum consolidated fixed charge coverage ratio, and a minimum liquidity requirement. FutureFuel was in compliance with such covenants as of June 30, 2017. There were no June 30, 2017 December 31, 2016.

Note 7 - Provision (Benefit) fo

Note 7 - Provision (Benefit) for Income Taxes	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7 ) PROVISION/(BENEFIT) FOR INCOME TAXES The following table summarizes the provision/(benefit) for income taxes. Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Provision/(benefit) for income taxes $ 48 $ (6,917 ) $ 1,645 $ (8,789 ) Effective tax rate 5.4 % (94.7 %) 28.0 % (54.9 %) The effective tax rate for the three six ended June 30, 2017, three six June 30, 2017, December 31, 2016 not 2017. The effective tax rate for the three six June 30, 2016, three six June 30, 2016, of the reinstatement of certain tax credits and incentives for 2016. 2016, 2016. second 2016, Unrecognized tax benefits totaled $2,056 $2,056 June 30, 2017 December 31, 2016, FutureFuel records interest and penalties, net, as a component of income tax expense. At June 30, 2017 December 31, 2016, $230 $193,

Note 8 - Earnings Per Share

Note 8 - Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	8 ) EARNINGS PER SHARE We compute earnings per share using the two ASC Topic No. 260, Earnings per Share two two no June 30, 2017 2016. Contingently issuable shares associated with outstanding service-based restricted stock units were not three six June 30, 2017 2016 not Basic and diluted earnings per common share were computed as follows: For the three months ended June 30, For the six months ended June 30, 2017 2016 2017 2016 Numerator: Net income $ 834 $ 14,224 $ 4,230 $ 24,793 Less: distributed earnings allocated to non-vested stock - (10 ) - (24 ) Less: undistributed earnings allocated to non-vested restricted stock (1 ) (42 ) (10 ) (96 ) Numerator for basic earnings per share $ 833 $ 14,172 $ 4,220 $ 24,673 Effect of dilutive securities: Add: undistributed earnings allocated to non-vested restricted stock 1 42 10 96 Less: undistributed earnings reallocated to non-vested restricted stock (1 ) (42 ) (10 ) (96 ) Numerator for diluted earnings per share $ 833 $ 14,172 $ 4,220 $ 24,673 Denominator: Weighted average shares outstanding – basic 43,665,171 43,527,857 43,641,038 43,501,599 Effect of dilutive securities: Stock options and other awards 10,517 902 8,362 5,910 Weighted average shares outstanding – diluted 43,675,688 43,528,759 43,649,400 43,507,509 Basic earnings per share $ 0.02 $ 0.33 $ 0.10 $ 0.57 Diluted earnings per share $ 0.02 $ 0.33 $ 0.10 $ 0.57 Certain options to purchase FutureFuel ’s common stock were not three six June 30, 2017 2016 0 15,000 three six June 30, 2017, 110,000 100,000 three six June 30, 2016,

Note 9 - Segment Information

Note 9 - Segment Information	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	9 ) SEGMENT INFORMATION FutureFuel has two – chemicals and biofuels. Chemicals FutureFuel ’s chemicals segment manufactures diversified chemical products that are sold externally to third two Biofuels FutureFuel ’s biofuels business segment primarily manufactures and markets biodiesel. Biodiesel revenues are generated through the sale of biodiesel to customers through FutureFuel’s distribution network at the Batesville Plant, through distribution facilities available at leased oil storage facilities, and through a network of remotely located tanks. Biofuels revenues also include the sale of biodiesel blends with petrodiesel, petrodiesel with no odiesel selling prices and profitability can at times fluctuate based on the timing of unsold, internally generated RINs. FutureFuel does not not may Summary of long-lived assets and revenues by geographic area All of FutureFuel ’s long-lived assets are located in the United States. Most of FutureFuel ’s sales are transacted with title passing at the time of shipment from the Batesville Plant, although some sales are transacted with title passing at the delivery point. While many of FutureFuel’s chemicals are utilized to manufacture products that are shipped, further processed, and/or consumed throughout the world, the chemical products, with limited exceptions, generally leave the United States only after ownership has transferred from FutureFuel to the customer. FutureFuel is rarely the exporter of record, never the importer of record into foreign countries, and is not Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 United States $ 66,918 $ 67,209 $ 120,333 $ 113,215 All Foreign Countries 1,130 670 1,826 1,299 Total $ 68,048 $ 67,879 $ 122,159 $ 114,514 Revenues from a single foreign country during the three six June 30, 2017 2016 not 1% Summary of business by segment Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Revenue Custom chemicals $ 19,644 $ 19,401 $ 41,596 $ 39,693 Performance chemicals 3,707 5,162 8,112 9,938 Chemicals revenue 23,351 24,563 49,708 49,631 Biofuels revenue 44,697 43,316 72,451 64,883 Total Revenue $ 68,048 $ 67,879 $ 122,159 $ 114,514 Segment gross profit Chemicals $ 5,332 $ 6,297 $ 12,341 $ 14,869 Biofuels (3,534 ) 1,675 (4,413 ) 4,156 Total gross profit 1,798 7,972 7,928 19,025 Corporate expenses (2,424 ) (2,596 ) (5,079 ) (5,120 ) Income/(loss) before interest and taxes (626 ) 5,376 2,849 13,905 Interest and other income 1,991 1,464 3,714 2,809 Interest and other expense (483 ) 467 (688 ) (710 ) (Provision)/benefit for income taxes (48 ) 6,917 (1,645 ) 8,789 Net income $ 834 $ 14,224 $ 4,230 $ 24,793 Depreciation is allocated to segment costs of goods sold based on plant usage. The total assets and capital expenditures of FutureFuel have not

Note 10 - Fair Value Measuremen

Note 10 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	10 ) FAIR VALUE MEASUREMENTS Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. Fair value accounting pronouncements also include a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of FutureFuel. Unobservable inputs are inputs that reflect FutureFuel ’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The hierarchy is broken down into three 1 2 not 3 The following tables provide information by level for assets and liabilities that are measured at fair value, on a recurring basis, at June 30, 2017 December 31, 2016. Asset (Liability) Fair Value Measurements Using Fair Value at Inputs Considered as: Description June 30, 2017 Level 1 Level 2 Level 3 Derivative instruments $ (578 ) $ (578 ) $ - $ - Preferred stock, trust preferred securities, exchange traded debt instruments, and other equity instruments $ 120,728 $ 120,728 $ - $ - Asset (Liability) Fair Value Measurements Using Fair Value at Inputs Considered as: Description December 31, 2016 Level 1 Level 2 Level 3 Derivative instruments $ (258 ) $ (258 ) $ - $ - Preferred stock, trust preferred securities, exchange traded debt instruments, and other equity instruments $ 106,146 $ 106,146 $ - $ -

Note 11 - Reclassifications Fro

Note 11 - Reclassifications From Accumulated and Other Comprehensive Income:	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	11 ) RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME: The following tables summarize changes in accumulated other comprehensive income from unrealized gains and losses on available-for-sale securities in the three six June 30, 2017 2016. Changes in Accumulated Other Comprehensive Income Unrealized Gains and Losses on Available-for-Sale Securities For the three months ended June 30, 2017 and 2016 (net of tax) 2017 2016 Balance at April 1 $ 5,415 $ 2,495 Other comprehensive income before reclassifications 1,799 1,275 Amounts reclassified from accumulated other comprehensive income 285 (398 ) Net current-period other comprehensive income 2,084 877 Balance at June 30 $ 7,499 $ 3,372 Changes in Accumulated Other Comprehensive Income Unrealized Gains and Losses on Available-for-Sale Securities For the six months ended June 30, 2017 and 2016 (net of tax) 2017 2016 Balance at January 1 $ 3,540 $ 2,055 Other comprehensive income before reclassifications 3,589 1,054 Amounts reclassified from accumulated other comprehensive income 370 263 Net current-period other comprehensive income 3,959 1,317 Balance at June 30 $ 7,499 $ 3,372 The following tables summarize amounts reclassified from accumulated other comprehensive income in the three six June 30, 2017 2016: Reclassifications from Accumulated Other Comprehensive Income for the three and six months ended June 30, 2017 and 2016 Three months ended June 30, 2017 2016 Affected Line Item in Statement of Operations Unrealized (losses)/gains on available-for-sale securities $ (438 ) $ 613 (Losses)/gains on marketable securities Total before tax (438 ) 613 Tax provision/(benefit) 153 (215 ) Total reclassifications $ (285 ) $ 398 Six months ended June 30, 2017 2016 Affected Line Item in Statement of Operations Unrealized losses on available-for-sale securities $ (569 ) $ (405 ) Losses on marketable securities Total before tax (569 ) (405 ) Tax provision 199 142 Total reclassifications $ (370 ) $ (263 )

Note 12 - Legal Matters

Note 12 - Legal Matters	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	12 ) LEGAL MATTERS From time to time, FutureFuel and its operations are parties to, or targets of, lawsuits, claims, investigations, regulatory matters, and proceedings, which are being handled and defended in the ordinary course of business. While FutureFuel is unable to predict the outcomes of these matters, it does not

Note 13 - Related Party Transac

Note 13 - Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	13 ) RELATED PARTY TRANSACTIONS FutureFuel enters into transactions with companies affiliated with or controlled by a director and significant shareholder. Revenues, expenses, prepaid amounts, and unpaid amounts related to these transactions are captured in the accompanying consolidated financial statements as related party line items. Related party revenues are the result of sales of biodiesel, petrodiesel, blends, other petroleum products, and other similar or related products to these related parties. Related party cost of goods sold and distribution are the result of sales of biodiesel, petrodiesel, blends, and other petroleum products to these related parties along with the associated expense from the purchase of natural gas, storage and terminalling services, and income tax and consulting services by FutureFuel from these related parties.

Note 14 - Intangible Asset

Note 14 - Intangible Asset	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	14 ) INTANGIBLE ASSET In April 2015, $1,408. no $1,408 June 30, 2017 December 31, 2016. 350 30 35 18 35 20.

Note 15 - Recently Issued Accou

Note 15 - Recently Issued Accounting Statements	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	15 ) RECENTLY ISSUED ACCOUNTING STATEMENTS The following table provides a brief description of recent Accounting Standard Updates ("ASU") issued by the FASB: Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In February 2016, the FASB issued ASU 2016-02, Leases. The new guidance supersedes the lease guidance under FASB ASC Topic 840, Leases, resulting in the creation of FASB ASC Topic 842, Leases. The guidance requires a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term for both finance and operating leases. Annual periods beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating its population of leases, and is continuing to assess all potential impacts of the standard, but currently believes the most significant impact relates to its accounting for logistics equipment. The Company anticipates recognition of additional assets and corresponding liabilities related to leases upon adoption. The Company plans to adopt the standard effective January 1, 2019. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. Since that date, the FASB has issued additional ASUs clarifying certain aspects of ASU 2014-09. The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. To achieve the core principle, the guidance establishes the following five steps: 1) identify the contract(s) with a customer, 2) identify the performance obligation in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, and 5) recognize revenue when (or as) the entity satisfies a performance obligation. The guidance also details the accounting treatment for costs to obtain or fulfill a contract. Lastly, disclosure requirements have been enhanced to provide sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. Annual periods beginning after December 15, 2017. Earlier adoption was permitted, but not before December 15, 2016. The Company is in the process of evaluating the impact of this guidance. This new guidance, will likely result in a change in the nature and extent of the related footnote disclosures. The Company plans to adopt the new guidance when effective and presently anticipates adopting on a modified retrospective basis to each prior reporting period presented with the election of applicable practical expedients.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared by FutureFuel in accordance and consistent with the accounting policies stated in FutureFuel ’s 2016 2016 In the opinion of FutureFuel, all normal recurring adjustments necessary for a fair presentation have been included in the unaudited consolidated financial statements. The unaudited consolidated financial statements have been prepared in compliance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with instructions to Form 10 not

Note 2 - Inventory (Tables)

Note 2 - Inventory (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2017 December 31, 2016 At average cost (approximates current cost) Finished goods $ 21,279 $ 27,971 Work in process 2,046 1,913 Raw materials and supplies 21,630 25,127 44,955 55,011 LIFO reserve (8,066 ) (2,918 ) Total inventory $ 36,889 $ 52,093

Note 3 - Derivative Instrumen23

Note 3 - Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Derivative Instruments [Table Text Block]	June 30, 2017 December 31, 2016 Quantity (contracts) Short Fair Value Quantity (contracts) Short Fair Value Regulated options, included in other current assets 75 $ (520 ) - $ - Regulated fixed price future commitments, included in other current assets 35 $ (58 ) 135 $ (258 )

Note 4 - Marketable Securities

Note 4 - Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Marketable Securities [Table Text Block]	June 30, 2017 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Equity instruments $ 45,596 $ 7,552 $ (318 ) $ 52,830 Preferred stock 55,927 4,360 (3 ) 60,284 Trust preferred securities 3,147 40 - 3,187 Exchange traded debt instruments 4,154 273 - 4,427 Total $ 108,824 $ 12,225 $ (321 ) $ 120,728 December 31, 2016 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Equity instruments $ 32,667 $ 5,549 $ (304 ) $ 37,912 Preferred stock 57,105 1,196 (698 ) 57,603 Trust preferred securities 3,147 - (9 ) 3,138 Exchange traded debt instruments 7,420 99 (26 ) 7,493 Total $ 100,339 $ 6,844 $ (1,037 ) $ 106,146

Note 5 - Accrued Expenses and25

Note 5 - Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 30, 2017 December 31, 2016 Accrued employee liabilities $ 1,529 $ 864 Accrued property, franchise, motor fuel and other taxes 1,978 1,428 Other 348 335 Total $ 3,855 $ 2,627

Note 6 - Borrowings (Tables)

Note 6 - Borrowings (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	Consolidated Leverage Ratio Adjusted LIBOR Rate Loans and Letter of Credit Fee Base Rate Loans Commitment Fee < 1.00:1.0 1.25% 0.25% 0.15% ≥ 1.00:1.0 And < 1.50:1.0 1.50% 0.50% 0.20% ≥ 1.50:1.0 And < 2.00:1.0 1.75% 0.75% 0.25% ≥ 2.00:1.0 And < 2.50:1.0 2.00% 1.00% 0.30% ≥ 2.50:1.0 2.25% 1.25% 0.35%

Note 7 - Provision (Benefit) 27

Note 7 - Provision (Benefit) for Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Provision/(benefit) for income taxes $ 48 $ (6,917 ) $ 1,645 $ (8,789 ) Effective tax rate 5.4 % (94.7 %) 28.0 % (54.9 %)

Note 8 - Earnings Per Share (Ta

Note 8 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the three months ended June 30, For the six months ended June 30, 2017 2016 2017 2016 Numerator: Net income $ 834 $ 14,224 $ 4,230 $ 24,793 Less: distributed earnings allocated to non-vested stock - (10 ) - (24 ) Less: undistributed earnings allocated to non-vested restricted stock (1 ) (42 ) (10 ) (96 ) Numerator for basic earnings per share $ 833 $ 14,172 $ 4,220 $ 24,673 Effect of dilutive securities: Add: undistributed earnings allocated to non-vested restricted stock 1 42 10 96 Less: undistributed earnings reallocated to non-vested restricted stock (1 ) (42 ) (10 ) (96 ) Numerator for diluted earnings per share $ 833 $ 14,172 $ 4,220 $ 24,673 Denominator: Weighted average shares outstanding – basic 43,665,171 43,527,857 43,641,038 43,501,599 Effect of dilutive securities: Stock options and other awards 10,517 902 8,362 5,910 Weighted average shares outstanding – diluted 43,675,688 43,528,759 43,649,400 43,507,509 Basic earnings per share $ 0.02 $ 0.33 $ 0.10 $ 0.57 Diluted earnings per share $ 0.02 $ 0.33 $ 0.10 $ 0.57

Note 9 - Segment Information (T

Note 9 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 United States $ 66,918 $ 67,209 $ 120,333 $ 113,215 All Foreign Countries 1,130 670 1,826 1,299 Total $ 68,048 $ 67,879 $ 122,159 $ 114,514
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 Revenue Custom chemicals $ 19,644 $ 19,401 $ 41,596 $ 39,693 Performance chemicals 3,707 5,162 8,112 9,938 Chemicals revenue 23,351 24,563 49,708 49,631 Biofuels revenue 44,697 43,316 72,451 64,883 Total Revenue $ 68,048 $ 67,879 $ 122,159 $ 114,514 Segment gross profit Chemicals $ 5,332 $ 6,297 $ 12,341 $ 14,869 Biofuels (3,534 ) 1,675 (4,413 ) 4,156 Total gross profit 1,798 7,972 7,928 19,025 Corporate expenses (2,424 ) (2,596 ) (5,079 ) (5,120 ) Income/(loss) before interest and taxes (626 ) 5,376 2,849 13,905 Interest and other income 1,991 1,464 3,714 2,809 Interest and other expense (483 ) 467 (688 ) (710 ) (Provision)/benefit for income taxes (48 ) 6,917 (1,645 ) 8,789 Net income $ 834 $ 14,224 $ 4,230 $ 24,793

Note 10 - Fair Value Measurem30

Note 10 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Asset (Liability) Fair Value Measurements Using Fair Value at Inputs Considered as: Description June 30, 2017 Level 1 Level 2 Level 3 Derivative instruments $ (578 ) $ (578 ) $ - $ - Preferred stock, trust preferred securities, exchange traded debt instruments, and other equity instruments $ 120,728 $ 120,728 $ - $ - Asset (Liability) Fair Value Measurements Using Fair Value at Inputs Considered as: Description December 31, 2016 Level 1 Level 2 Level 3 Derivative instruments $ (258 ) $ (258 ) $ - $ - Preferred stock, trust preferred securities, exchange traded debt instruments, and other equity instruments $ 106,146 $ 106,146 $ - $ -

Note 11 - Reclassifications F31

Note 11 - Reclassifications From Accumulated and Other Comprehensive Income: (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in Accumulated Other Comprehensive Income Unrealized Gains and Losses on Available-for-Sale Securities For the three months ended June 30, 2017 and 2016 (net of tax) 2017 2016 Balance at April 1 $ 5,415 $ 2,495 Other comprehensive income before reclassifications 1,799 1,275 Amounts reclassified from accumulated other comprehensive income 285 (398 ) Net current-period other comprehensive income 2,084 877 Balance at June 30 $ 7,499 $ 3,372 Changes in Accumulated Other Comprehensive Income Unrealized Gains and Losses on Available-for-Sale Securities For the six months ended June 30, 2017 and 2016 (net of tax) 2017 2016 Balance at January 1 $ 3,540 $ 2,055 Other comprehensive income before reclassifications 3,589 1,054 Amounts reclassified from accumulated other comprehensive income 370 263 Net current-period other comprehensive income 3,959 1,317 Balance at June 30 $ 7,499 $ 3,372
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Reclassifications from Accumulated Other Comprehensive Income for the three and six months ended June 30, 2017 and 2016 Three months ended June 30, 2017 2016 Affected Line Item in Statement of Operations Unrealized (losses)/gains on available-for-sale securities $ (438 ) $ 613 (Losses)/gains on marketable securities Total before tax (438 ) 613 Tax provision/(benefit) 153 (215 ) Total reclassifications $ (285 ) $ 398 Six months ended June 30, 2017 2016 Affected Line Item in Statement of Operations Unrealized losses on available-for-sale securities $ (569 ) $ (405 ) Losses on marketable securities Total before tax (569 ) (405 ) Tax provision 199 142 Total reclassifications $ (370 ) $ (263 )

Note 1 - Nature of Operations32

Note 1 - Nature of Operations and Basis of Presentation (Details Textual)	6 Months Ended
	Jun. 30, 2017a
Number of Operating Segments	2
Batesville, Arkansas [Member]
Area of Land	2,200

Note 2 - Inventory (Details Tex

Note 2 - Inventory (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016
Inventory Adjustments	$ 957	$ 1,895

Note 2 - Inventory - Carrying V

Note 2 - Inventory - Carrying Values of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Finished goods	$ 21,279	$ 27,971
Work in process	2,046	1,913
Raw materials and supplies	21,630	25,127
Inventory, gross	44,955	55,011
LIFO reserve	(8,066)	(2,918)
Total inventory	$ 36,889	$ 52,093

Note 3 - Derivative Instrumen35

Note 3 - Derivative Instruments (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 524	$ (5,139)	$ 1,803	$ (6,178)
Restricted Cash and Cash Equivalents	$ 793		$ 793		$ 758

Note 3 - Derivative Instrumen36

Note 3 - Derivative Instruments - Carrying Value of Derivative Instruments (Details) $ in Thousands	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Commodity Option [Member]
Fair Value Liabilities	$ (520)
Quantity (contracts) Short	75
Future [Member]
Quantity (contracts) Short	35	135
Fair Value Liabilities	$ (58)	$ (258)

Note 4 - Marketable Securitie37

Note 4 - Marketable Securities (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 8,964	$ 31,126
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	$ 0	$ 0

Note 4 - Marketable Securitie38

Note 4 - Marketable Securities - Marketable Securities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Unrealized Gains	$ 12,225	$ 6,844
Unrealized Losses	(321)	(1,037)
Fair Value	120,728	106,146
Adjusted Cost	108,824	100,339
Equity Securities [Member]
Unrealized Gains	7,552	5,549
Unrealized Losses	(318)	(304)
Fair Value	52,830	37,912
Adjusted Cost	45,596	32,667
Preferred Stock [Member]
Unrealized Gains	4,360	1,196
Unrealized Losses	(3)	(698)
Fair Value	60,284	57,603
Adjusted Cost	55,927	57,105
Trust Preferred Securities [Member]
Unrealized Gains	40
Unrealized Losses		(9)
Fair Value	3,187	3,138
Adjusted Cost	3,147	3,147
Corporate Debt Securities [Member]
Unrealized Gains	273	99
Unrealized Losses		(26)
Fair Value	4,427	7,493
Adjusted Cost	$ 4,154	$ 7,420

Note 5 - Accrued Expenses and39

Note 5 - Accrued Expenses and Other Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accrued employee liabilities	$ 1,529	$ 864
Accrued property, franchise, motor fuel and other taxes	1,978	1,428
Other	348	335
Total	$ 3,855	$ 2,627

Note 6 - Borrowings (Details Te

Note 6 - Borrowings (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Thousands	May 25, 2016	Jun. 30, 2017	Dec. 31, 2016	May 25, 2015	Apr. 16, 2015
Long-term Line of Credit		$ 0	$ 0
Regions Bank and PNC Bank N.A. [Member]
Line of Credit Facility, Expiration Period	5 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 165,000				$ 150,000
Line of Credit, Additional Borrowing Capacity	$ 15,000
Line of Credit Facility Sublimit for Letters of Credit				$ 30,000
Line of Credit Facility Swingline Loans				$ 15,000

Note 6 - Borrowings - Leverage

Note 6 - Borrowings - Leverage Ratio (Details)	6 Months Ended
	Jun. 30, 2017
Leverage Ratio1 [Member]
Commitment fee	0.15%
Leverage Ratio1 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.25%
Leverage Ratio1 [Member] | Base Rate [Member]
Spread on variable rate	0.25%
Leverage Ratio1 [Member] | Minimum [Member]
Consolidated leverage ratio
Leverage Ratio1 [Member] | Maximum [Member]
Consolidated leverage ratio
Leverage Ratio 2 [Member]
Commitment fee	0.20%
Leverage Ratio 2 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.50%
Leverage Ratio 2 [Member] | Base Rate [Member]
Spread on variable rate	0.50%
Leverage Ratio 2 [Member] | Minimum [Member]
Consolidated leverage ratio	1
Leverage Ratio 2 [Member] | Maximum [Member]
Consolidated leverage ratio	1.5
Leverage Ratio 3 [Member]
Commitment fee	0.25%
Leverage Ratio 3 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.75%
Leverage Ratio 3 [Member] | Base Rate [Member]
Spread on variable rate	0.75%
Leverage Ratio 3 [Member] | Minimum [Member]
Consolidated leverage ratio	1.5
Leverage Ratio 3 [Member] | Maximum [Member]
Consolidated leverage ratio	2
Leverage Ratio 4 [Member]
Commitment fee	0.30%
Leverage Ratio 4 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	2.00%
Leverage Ratio 4 [Member] | Base Rate [Member]
Spread on variable rate	1.00%
Leverage Ratio 4 [Member] | Minimum [Member]
Consolidated leverage ratio	2
Leverage Ratio 4 [Member] | Maximum [Member]
Consolidated leverage ratio	2.5
Leverage Ratio 5 [Member]
Commitment fee	0.35%
Leverage Ratio 5 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	2.25%
Leverage Ratio 5 [Member] | Base Rate [Member]
Spread on variable rate	1.25%
Leverage Ratio 5 [Member] | Minimum [Member]
Consolidated leverage ratio
Leverage Ratio 5 [Member] | Maximum [Member]
Consolidated leverage ratio

Note 7 - Provision (Benefit) 42

Note 7 - Provision (Benefit) for Income Taxes (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Unrecognized Tax Benefits	$ 2,056	$ 2,056
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 230	$ 193

Note 7 - Provision (Benefit) 43

Note 7 - Provision (Benefit) for Income Taxes - Summary of Provisions for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Provision/(benefit) for income taxes	$ 48	$ (6,917)	$ 1,645	$ (8,789)
Effective tax rate	5.40%	(94.70%)	28.00%	(54.90%)

Note 8 - Earnings Per Share (De

Note 8 - Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	110,000	15,000	100,000

Note 8 - Earnings Per Share - C

Note 8 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income	$ 834	$ 14,224	$ 4,230	$ 24,793
Less: distributed earnings allocated to non-vested stock		(10)		(24)
Less: undistributed earnings allocated to non-vested restricted stock	(1)	(42)	(10)	(96)
Numerator for basic earnings per share	833	14,172	4,220	24,673
Effect of dilutive securities:
Add: undistributed earnings allocated to non-vested restricted stock	1	42	10	96
Less: undistributed earnings reallocated to non-vested restricted stock	(1)	(42)	(10)	(96)
Numerator for diluted earnings per share	$ 833	$ 14,172	$ 4,220	$ 24,673
Weighted average shares outstanding – basic (in shares)	43,665,171	43,527,857	43,641,038	43,501,599
Stock options and other awards (in shares)	10,517	902	8,362	5,910
Weighted average shares outstanding – diluted (in shares)	43,675,688	43,528,759	43,649,400	43,507,509
Basic earnings per share (in dollars per share)	$ 0.02	$ 0.33	$ 0.10	$ 0.57
Diluted earnings per share (in dollars per share)	$ 0.02	$ 0.33	$ 0.10	$ 0.57

Note 9 - Segment Information (D

Note 9 - Segment Information (Details Textual)	6 Months Ended
	Jun. 30, 2017
Number of Reportable Segments	2
Chemicals [Member]
Number of Reportable Segments	2

Note 9 - Segment Information -

Note 9 - Segment Information - Revenues by Geographical Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues	$ 68,048	$ 67,879	$ 122,159	$ 114,514
UNITED STATES
Revenues	66,918	67,209	120,333	113,215
All Foreign Countries [Member]
Revenues	$ 1,130	$ 670	$ 1,826	$ 1,299

Note 9 - Segment Information 48

Note 9 - Segment Information - Summary of Business by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues	$ 68,048	$ 67,879	$ 122,159	$ 114,514
Segment gross profit
Gross profit	1,798	7,972	7,928	19,025
Income/(loss) before interest and taxes	(626)	5,376	2,849	13,905
Interest and other income	1,991	1,464	3,714	2,809
Interest and other expense	(483)	467	(688)	(710)
(Provision)/benefit for income taxes	(48)	6,917	(1,645)	8,789
Net income	834	14,224	4,230	24,793
Operating Segments [Member] | Chemicals [Member]
Revenues	23,351	24,563	49,708	49,631
Segment gross profit
Gross profit	5,332	6,297	12,341	14,869
Operating Segments [Member] | Chemicals [Member] | Custom Chemicals [Member]
Revenues	19,644	19,401	41,596	39,693
Operating Segments [Member] | Chemicals [Member] | Performance Chemicals [Member]
Revenues	3,707	5,162	8,112	9,938
Operating Segments [Member] | Biofuels [Member]
Revenues	44,697	43,316	72,451	64,883
Segment gross profit
Gross profit	(3,534)	1,675	(4,413)	4,156
Corporate, Non-Segment [Member]
Segment gross profit
Corporate expenses	$ (2,424)	$ (2,596)	$ (5,079)	$ (5,120)

Note 10 - Fair Value Measurem49

Note 10 - Fair Value Measurements - Assets and Liiabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivative instruments	$ (578)	$ (258)
Preferred stock, trust preferred securities, exchange traded debt instruments, and other equity instruments	120,728	106,146
Fair Value, Inputs, Level 1 [Member]
Derivative instruments	(578)	(258)
Preferred stock, trust preferred securities, exchange traded debt instruments, and other equity instruments	120,728	106,146
Fair Value, Inputs, Level 2 [Member]
Derivative instruments
Preferred stock, trust preferred securities, exchange traded debt instruments, and other equity instruments
Fair Value, Inputs, Level 3 [Member]
Derivative instruments
Preferred stock, trust preferred securities, exchange traded debt instruments, and other equity instruments

Note 11 - Reclassifications f50

Note 11 - Reclassifications from Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Beginning balance	$ 5,415	$ 2,495	$ 3,540	$ 2,055
Other comprehensive income before reclassifications	1,799	1,275	3,589	1,054
Amounts reclassified from accumulated other comprehensive income	285	(398)	370	263
Net current-period other comprehensive income	2,084	877	3,959	1,317
Ending balance	$ 7,499	$ 3,372	$ 7,499	$ 3,372

Note 11 - Reclassifications f51

Note 11 - Reclassifications from Accumulated Other Comprehensive Income - Reclassifications from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Unrealized (losses)/gains on available-for-sale securities	$ (438)	$ 613	$ (569)	$ (405)
Total before tax	(438)	613	(569)	(405)
Total before tax	(438)	613	(569)	(405)
Tax provision/(benefit)	153	(215)	199	142
Total reclassifications	(285)	398	(370)	(263)
Total reclassifications	$ (285)	$ 398	$ (370)	$ (263)

Note 14 - Intangible Asset (Det

Note 14 - Intangible Asset (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2015	Jun. 30, 2017	Dec. 31, 2016
Payments to Acquire Intangible Assets	$ 1,408
Intangible Assets, Net (Excluding Goodwill)		$ 1,408	$ 1,408