FutureFuel (FF) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 09, 2021
Document Information [Line Items]
Entity Central Index Key	0001337298
Entity Registrant Name	FUTUREFUEL CORP.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	0-52577
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3340900
Entity Address, Address Line One	8235 Forsyth Blvd., Suite 400
Entity Address, City or Town	St Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63105
City Area Code	314
Local Phone Number	854-8352
Title of 12(b) Security	Common Stock
Trading Symbol	FF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		43,763,243

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 116,787	$ 198,122
Accounts receivable, inclusive of the blenders' tax credit of $12,679 and $8,300 at September 30, 2021 and December 31, 2020, respectively, and net of allowances for bad debt of $55 and $63 at September 30, 2021 and December 31, 2020, respectively	26,473	21,387
Accounts receivable – related parties	82	1,426
Inventory	43,694	33,889
Income tax receivable	9,773	17,668
Prepaid expenses	838	3,967
Prepaid expenses – related parties	12	0
Marketable securities	45,164	64,404
Other current assets	1,732	1,742
Total current assets	244,555	342,605
Property, plant and equipment, net	84,343	91,544
Intangible assets		1,408
Other noncurrent assets	5,803	5,747
Total noncurrent assets	90,146	98,699
Total Assets	334,701	441,304
Liabilities and Stockholders’ Equity
Accounts payable, inclusive of the blenders' tax credit rebates due customers of $890 and $1,116 at September 30, 2021 and December 31, 2020, respectively	25,864	12,453
Accounts payable – related parties	8,629	984
Deferred revenue – short-term	6,265	3,976
Dividends payable	2,622	10,498
Accrued expenses and other current liabilities	4,824	5,077
Total current liabilities	48,204	32,988
Deferred revenue – long-term	17,920	21,861
Noncurrent deferred income tax liability	128	12,332
Other noncurrent liabilities	1,886	2,240
Total noncurrent liabilities	19,934	36,433
Total liabilities	68,138	69,421
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.0001 par value, 75,000,000 shares authorized, 43,763,243 and 43,743,243 issued and outstanding at September 30, 2021 and December 31, 2020, respectively	4	4
Accumulated other comprehensive income	155	208
Additional paid in capital	282,446	282,215
Retained (deficit) earnings	(16,042)	89,456
Total stockholders’ equity	266,563	371,883
Total Liabilities and Stockholders’ Equity	$ 334,701	$ 441,304

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Allowance for bad debt	$ 55,000	$ 63,000
Accounts payable, Blenders' Tax Credit	12,679,000	8,300,000
Accounts payable, Blenders' Tax Credit Rebates	$ 890	$ 1,116
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)	43,763,243	43,743,243
Common stock, shares outstanding (in shares)	43,763,243	43,743,243

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 98,682	$ 54,138	$ 214,316	$ 154,642
Gross profit (loss)	8,192	6,446	(2,587)	23,756
Selling, general, and administrative expenses
Compensation expense	571	769	1,622	2,348
Other expense	529	927	1,851	1,912
Related party expense	136	155	473	458
Research and development expenses	814	791	2,386	2,394
Total operating expenses	2,050	2,642	6,332	7,112
Income (loss) from operations	6,142	3,804	(8,919)	16,644
Interest and dividend income	654	1,076	2,449	4,562
Interest expense	(32)	(32)	(96)	(119)
(Loss) gain on marketable securities	(729)	1,213	(192)	(7,273)
Other (expense) income	(14)	(1)	(1,369)	8,347
Other (expense) income	(121)	2,256	792	5,517
Income (loss) before taxes	6,021	6,060	(8,127)	22,161
Income tax benefit	(3,181)	(830)	(12,037)	(18,931)
Net income	$ 9,202	$ 6,890	$ 3,910	$ 41,092
Earnings per common share
Basic (in dollars per share)	$ 0.21	$ 0.16	$ 0.09	$ 0.94
Diluted (in dollars per share)	$ 0.21	$ 0.16	$ 0.09	$ 0.94
Weighted average shares outstanding
Basic (in shares)	43,763,243	43,743,243	43,753,646	43,743,243
Diluted (in shares)	43,763,243	43,745,339	43,753,709	43,744,107
Comprehensive income
Net income	$ 9,202	$ 6,890	$ 3,910	$ 41,092
Other comprehensive loss from unrealized net losses on available-for-sale debt securities	(67)	(8)	(67)	(215)
Income tax effect	14	1	14	45
Total other comprehensive loss, net of tax	(53)	(7)	(53)	(170)
Comprehensive income	9,149	6,883	3,857	40,922
Non-related Parties [Member]
Revenue	98,490	53,306	213,461	152,988
Cost of goods sold	85,895	44,129	197,033	120,379
Non-related Parties [Member] | Shipping and Handling [Member]
Cost of goods sold	1,666	2,007	4,908	5,304
Related Parties [Member]
Revenue	192	832	855	1,654
Cost of goods sold	2,889	1,508	14,826	5,065
Related Parties [Member] | Shipping and Handling [Member]
Cost of goods sold	$ 40	$ 48	$ 136	$ 138

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member]	AOCI Attributable to Parent [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019						43,743,243					43,743,243
Balance at Dec. 31, 2019	$ 0	$ 0	$ 0	$ (12)	$ (12)	$ 4	$ 296	$ 282,166	$ 184,620	$ 467,086	$ 4	$ 296	$ 282,166	$ 184,632	$ 467,098
Other comprehensive income (loss)											0	(313)	0	0	(313)
Net income											0	0	0	19,043	19,043
Cash dividends declared											0	0	0	(131,230)	(131,230)
Other comprehensive loss											0	(313)	0	0	(313)
Net income											0	0	0	19,043	19,043
Stock based compensation											$ 0	0	49	0	49
Balance (in shares) at Mar. 31, 2020											43,743,243
Balance at Mar. 31, 2020											$ 4	(17)	282,215	72,433	354,635
Balance (in shares) at Dec. 31, 2019						43,743,243					43,743,243
Balance at Dec. 31, 2019	$ 0	$ 0	$ 0	$ (12)	$ (12)	$ 4	$ 296	$ 282,166	$ 184,620	$ 467,086	$ 4	296	282,166	184,632	467,098
Net income															41,092
Net income															41,092
Balance (in shares) at Sep. 30, 2020											43,743,243
Balance at Sep. 30, 2020											$ 4	126	282,215	94,482	376,827
Balance (in shares) at Mar. 31, 2020											43,743,243
Balance at Mar. 31, 2020											$ 4	(17)	282,215	72,433	354,635
Other comprehensive income (loss)											0	150	0	0	150
Net income											0	0	0	15,159	15,159
Other comprehensive loss											0	150	0	0	150
Net income											$ 0	0	0	15,159	15,159
Balance (in shares) at Jun. 30, 2020											43,743,243
Balance at Jun. 30, 2020											$ 4	133	282,215	87,592	369,944
Other comprehensive income (loss)											0	(7)	0	0	(7)
Net income											0	0	0	6,890	6,890
Other comprehensive loss											0	(7)	0	0	(7)
Net income											$ 0	0	0	6,890	6,890
Balance (in shares) at Sep. 30, 2020											43,743,243
Balance at Sep. 30, 2020											$ 4	126	282,215	94,482	376,827
Balance (in shares) at Dec. 31, 2020											43,743,243
Balance at Dec. 31, 2020											$ 4	208	282,215	89,456	371,883
Other comprehensive income (loss)											0	(60)	0	0	(60)
Net income											0	0	0	(8,773)	(8,773)
Other comprehensive loss											0	(60)	0	0	(60)
Net income											$ 0	0	0	(8,773)	(8,773)
Balance (in shares) at Mar. 31, 2021											43,743,243
Balance at Mar. 31, 2021											$ 4	148	282,215	80,683	363,050
Balance (in shares) at Dec. 31, 2020											43,743,243
Balance at Dec. 31, 2020											$ 4	208	282,215	89,456	371,883
Net income															3,910
Net income															3,910
Balance (in shares) at Sep. 30, 2021											43,763,243
Balance at Sep. 30, 2021											$ 4	155	282,446	(16,042)	266,563
Balance (in shares) at Mar. 31, 2021											43,743,243
Balance at Mar. 31, 2021											$ 4	148	282,215	80,683	363,050
Other comprehensive income (loss)											0	60	0	0	60
Net income											0	0	0	3,481	3,481
Cash dividends declared											$ 0	0	0	(109,408)	(109,408)
Proceeds for the issuance of stock (in shares)											20,000
Proceeds for the issuance of stock											$ 0	0	231	0	231
Other comprehensive loss											0	60	0	0	60
Net income											$ 0	0	0	3,481	3,481
Balance (in shares) at Jun. 30, 2021											43,763,243
Balance at Jun. 30, 2021											$ 4	208	282,446	(25,244)	257,414
Other comprehensive income (loss)											0	(53)			(53)
Net income											0			9,202	9,202
Other comprehensive loss											0	(53)			(53)
Net income											$ 0			9,202	9,202
Balance (in shares) at Sep. 30, 2021											43,763,243
Balance at Sep. 30, 2021											$ 4	$ 155	$ 282,446	$ (16,042)	$ 266,563

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	May 10, 2021	Jun. 30, 2021	Mar. 31, 2020
Dividends declared, per share (in dollars per share)	$ 2.50	$ 2.50	$ 3

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income	$ 3,910	$ 41,092
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	7,887	8,554
Amortization of deferred financing costs	72	84
Benefit from deferred income taxes	(12,190)	(951)
Change in fair value of equity securities	1,027	5,445
Change in fair value of derivative instruments	2,147	(757)
(Gain) loss on the sale of investments	(835)	1,828
Stock based compensation	0	49
Loss (gain) on disposal of property and equipment	11	(51)
Impairment of intangible asset	1,315	0
Noncash interest expense	24	35
Changes in operating assets and liabilities:
Accounts receivable	(5,086)	73,041
Accounts receivable – related parties	1,344	3,218
Inventory	(9,805)	8,486
Income tax receivable	7,895	(14,379)
Prepaid expenses	3,129	1,349
Prepaid expenses - related parties	(12)	0
Other assets	522	483
Accounts payable	13,379	(51,711)
Accounts payable - related parties	7,645	(341)
Accrued expenses and other current liabilities	(387)	2,295
Accrued expenses and other current liabilities – related parties	0	(64)
Deferred revenue	(1,652)	(793)
Other noncurrent liabilities	(513)	(336)
Net cash provided by operating activities	19,827	76,576
Cash flows from investing activities
Collateralization of derivative instruments	(2,518)	801
Purchase of marketable securities	(21,671)	(5,073)
Proceeds from the sale of marketable securities	40,652	7,729
Proceeds from the sale of property and equipment	0	104
Proceeds from the sale of intangible asset	93	0
Capital expenditures	(665)	(3,717)
Net cash from (used in) investing activities	15,891	(156)
Cash flows from financing activities
Loan proceeds	0	8,180
Payment on loan	0	(8,180)
Deferred financing costs	0	(477)
Proceeds from the issuance of stock	231	0
Payment of dividends	(117,284)	(139,103)
Net cash used in financing activities	(117,053)	(139,580)
Net change in cash and cash equivalents	(81,335)	(63,160)
Cash and cash equivalents at beginning of period	198,122	243,331
Cash and cash equivalents at end of period	116,787	180,171
Cash paid for interest	43	2
Cash paid for income taxes	83	660
Noncash investing and financing activities:
Noncash capital expenditures	32	98
Noncash operating leases	$ 269	$ 442

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Nature of Operations [Text Block]	1 ) NATURE OF OPERATIONS AND BASIS OF PRESENTATION Organization FutureFuel Corp. (“FutureFuel” or “the Company”), through its wholly-owned subsidiary, FutureFuel Chemical Company (“FutureFuel Chemical”), owns and operates a chemical production facility located on approximately 2,200 acres of land six The chemical segment manufactures a diversified portfolio of chemical products that are sold to third The biofuels 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 April 2021, 8 Basis of Presentation The unaudited consolidated financial statements have been prepared by FutureFuel in accordance and consistent with the accounting policies stated in FutureFuel’s 2020 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 - Government Tax Credits

Note 2 - Government Tax Credits	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	2 ) GOVERNMENT TAX CREDITS Reinstatement of the Biodiesel Blenders’ Tax Credit and Small Agri-Biodiesel Producer Tax Credit The biodiesel Blenders’ Tax Credit (“BTC”) provides a one 0.1% The Further Consolidated Appropriations Act of 2020 December 20, 2019, 2018 2019 December 31, 2022. 2019, 2019 2018 2019 2019 As the law from which the BTC mentioned above was reinstated, small agri-biodiesel producers with production capacity not 60 $0.10 first 15 three December 31, 2019 2018 2019 CARES Act – Employee Retention Tax Credit The Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), was enacted on March 27, 2020, not January 1, 2021

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	1 year arrangements $ 6,232 $ 4,995 $ 17,109 $ 19,518 Contract revenue from customers with < 1 year arrangements 92,395 49,088 197,041 136,975 Revenue from non-contractual arrangements 55 55 166 166 BTC rebate - - - (2,017 ) Total revenue $ 98,682 $ 54,138 $ 214,316 $ 154,642 Timing of revenue : Three Months Ended , Nine Months Ended September 30, 2021 2020 2021 2020 Bill-and-hold revenue $ 9,185 $ 7,400 $ 24,612 $ 24,888 Non-bill-and-hold revenue 89,497 46,738 189,704 129,754 Total revenue $ 98,682 $ 54,138 $ 214,316 $ 154,642 As of September 30, 2021, not" id="sjs-B4">3 REVENUE RECOGNITION FutureFuel recognizes revenue when performance obligations of the customer contract are satisfied. FutureFuel sells to customers through master sales agreements or standalone purchase orders. The majority of FutureFuel's terms of sale have a single performance obligation to transfer products. Accordingly, FutureFuel recognizes revenue when control has been transferred to the customer, generally at the time of shipment or delivery of products. For certain contracts, this occurs upon delivery of the material to a FutureFuel storage location, ready for customer pickup and separated from other FutureFuel inventory. Revenue is measured as the amount of consideration FutureFuel expects to receive in exchange for transferring products and is generally based upon a negotiated price. FutureFuel sells its products directly to customers generally under agreements with payment terms of 30 75 2 10 Certain of FutureFuel custom chemical contracts within the chemical segment contain a material right as defined by ASU 2014 09, Revenue from Contracts with Customers 606" 30 606. Contract Assets and Liabilities: Contract assets consist of unbilled amounts typically resulting from revenue recognized through bill-and-hold arrangements. The contract assets at September 30, 2021 December 31, 2020 one three nine September 30, 2021 2020, three nine September 30, 2021 2020, The following table provides the balances of receivables, contract assets, and contract liabilities from contracts with customers. Contract Assets and Liability Balances September 30, 2021 December 31, 2020 Trade receivables, included in accounts receivable* $ 13,453 $ 12,279 Contract assets, included in accounts receivable $ 423 $ 808 Contract liabilities, included in deferred revenue - short-term $ 6,058 $ 3,769 Contract liabilities, included in deferred revenue - long-term $ 14,169 $ 17,943 * Exclusive of the BTC of $12,679 and $8,300 , respectively, and net of allowances for bad debt of $55 and $63, respectively, as of the dates noted. Transaction price allocated to the remaining performance obligations: At September 30, 2021, three five 70 The Company applies the practical expedient in ASC 606 10 50 14 one The following tables provide revenue from customers disaggregated by the type of arrangement and by the timing of the recognized revenue. Disaggregation of revenue - contractual and non-contractual : Three Months Ended , Nine Months Ended September 30, 2021 2020 2021 2020 Contract revenue from customers with > 1 year arrangements $ 6,232 $ 4,995 $ 17,109 $ 19,518 Contract revenue from customers with < 1 year arrangements 92,395 49,088 197,041 136,975 Revenue from non-contractual arrangements 55 55 166 166 BTC rebate - - - (2,017 ) Total revenue $ 98,682 $ 54,138 $ 214,316 $ 154,642 Timing of revenue : Three Months Ended , Nine Months Ended September 30, 2021 2020 2021 2020 Bill-and-hold revenue $ 9,185 $ 7,400 $ 24,612 $ 24,888 Non-bill-and-hold revenue 89,497 46,738 189,704 129,754 Total revenue $ 98,682 $ 54,138 $ 214,316 $ 154,642 As of September 30, 2021, not

Note 4 - Inventory

Note 4 - Inventory	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	4 INVENTORY The carrying values of inventory were as follows as of: September 30, 2021 December 31, 2020 At average cost (approximates current cost) Finished goods $ 8,119 $ 15,452 Work in process 483 1,632 Raw materials and supplies 47,028 22,674 55,630 39,758 LIFO reserve (11,936 ) (5,869 ) Total inventory $ 43,694 $ 33,889

Note 5 - Derivative Instruments

Note 5 - Derivative Instruments	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	5 ) DERIVATIVE INSTRUMENTS The Company records all derivative instruments at fair value. Fair value is determined by using the closing prices of the derivative instruments on the New York Mercantile Exchange at the end of an accounting period. Changes in the fair value of derivative instruments are recognized at the end of each accounting period and recorded in the statement of income as a component of cost of goods sold. In order to manage commodity price risk caused by market fluctuations in biofuel prices, future purchases of feedstock used in biodiesel production, physical feedstock, finished product inventories attributed to the process, and other petroleum products purchased or sold, the Company may 815 20 25, no 2021 2020. Realized gains and losses on derivative instruments and changes in fair value of the derivative instruments are recorded in the consolidated statements of operations as a component of cost of goods sold and amounted to a loss three nine September 30, 2021, three nine September 30, 2020, The volumes and carrying values of FutureFuel’s derivative instruments were as follows at: Asset (Liability) September 30, 2021 December 31, 2020 Contract Quantity Short Fair Value Contract Quantity Short Fair Value Regulated fixed price future commitments 360 $ (2,023 ) 250 $ 124 The margin account maintained with a broker to collateralize these derivative instruments carried an account balance of $3,452 and $933 at September 30, 2021 December 31, 2020,

Note 6 - Marketable Securities

Note 6 - Marketable Securities	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	6 ) MARKETABLE SECURITIES At September 30, 2021 December 31, 2020, gain three September 30, 2021 2020 nine September 30, 2021 2020 Available for sale s ecurities : FutureFuel has designated the debt securities as being available-for-sale. The following comprises the available-for-sale debt securities balances included within marketable securities in the consolidated balance sheets at the respective dates: September 30, 2021 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Trust preferred stock $ 3,676 $ 196 $ - $ 3,873 December 31, 2020 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Trust preferred stock $ 3,676 $ 264 $ - $ 3,940 The aggregate fair value of debt securities with unrealized losses totaled $ 0 September 30, 2021 December 31, 2020. The Company determined an allowance for credit losses for these debt securities was not September 30, 2021. no There were no nine September 30, 2021. three nine September 30, 2020, The debt securities held at September 30, 2021, ten

Note 7 - Fair Value Measurement

Note 7 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	7 ) 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 September 30, 2021 December 31, 2020. Asset (Liability) Fair Value at Fair Value Measurements Using Inputs Considered as: Description September 30, 2021 Level 1 Level 2 Level 3 Derivative instruments $ (2,023 ) $ (2,023 ) $ - $ - Preferred stock and other equity instruments $ 41,291 $ 41,291 $ - $ - Trust preferred stock $ 3,873 $ 3,873 $ - $ - Asset (Liability) Fair Value at Fair Value Measurements Using Inputs Considered as: Description December 31, 2020 Level 1 Level 2 Level 3 Derivative instruments $ 124 $ 124 $ - $ - Preferred stock and other equity instruments $ 60,464 $ 60,464 $ - $ - Trust preferred stock $ 3,940 $ 3,940 $ - $ -

Note 8 - Intangible Assets

Note 8 - Intangible Assets	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	8 ) INTANGIBLE ASSET S In April 2015, no April 2021, $0 June 30, 2021 December 31, 2020.

Note 9 - Accrued Expenses and O

Note 9 - Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	9 ) ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following at: September 30, 2021 December 31, 2020 Accrued employee liabilities $ 2,632 $ 2,609 Accrued property, franchise, motor fuel and other taxes 1,141 1,730 Lease liability, current 639 491 Accrued directors' fees 208 - Other 204 247 Total $ 4,824 $ 5,077

Note 10 - Borrowings

Note 10 - Borrowings	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	1 0 ) BORROWINGS On March 30, 2020, April 16, 2015 ( five $100,000, March 30, 2025. 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 1.00% 0.00% 0.15% ≥ 1.00:1.0 And < 1.50:1.0 1.25% 0.25% 0.15% ≥ 1.50:1.0 And < 2.00:1.0 1.50% 0.50% 0.20% ≥ 2.00:1.0 And < 2.50:1.0 1.75% 0.75% 0.20% ≥ 2.50:1.0 2.00% 1.00% 0.25% The terms of the Credit Facility contain certain negative covenants and conditions including a maximum consolidated leverage ratio and a consolidated minimum interest coverage ratio. There were no borrowings under the Credit Agreement at September 30, 2021 December 31, 2020.

Note 11 - Income Tax Provision

Note 11 - Income Tax Provision	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 1 ) INCOME TAX PROVISION The following table summarizes the income tax provision. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Income tax benefit $ (3,181 ) $ (830 ) $ (12,037 ) $ (18,931 ) Effective tax rate (52.8 %) (13.7 %) (148.1 %) (85.4 %) In order to minimize the potential for ambiguity and distortion produced using the annual effective tax rate approach, the Company has determined its income tax benefits for the three nine September 30, 2021 three nine September 30, 2020 The effective tax rates for both periods reflect the positive effects of certain tax credits and incentives, the most significant of which were the BTC and Small Agri-biodiesel Producer Tax Credit. Additionally, the effective rate for the three nine September 30, 2020 March 27, 2020, 2020

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	1 2 ) EARNINGS PER SHARE In the three nine September 30, 2021 2020, Basic and diluted earnings per common share were computed as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator: Net income $ 9,202 $ 6,890 $ 3,910 $ 41,092 Denominator: Weighted average shares outstanding – basic 43,763,243 43,743,243 43,753,646 43,743,243 Effect of dilutive securities: Stock options and other awards - 2,096 63 864 Weighted average shares outstanding – diluted 43,763,243 43,745,339 43,753,709 43,744,107 Basic earnings per share $ 0.21 $ 0.16 $ 0.09 $ 0.94 Diluted earnings per share $ 0.21 $ 0.16 $ 0.09 $ 0.94 three nine September 30, 2021, three nine September 30, 2020,

Note 13 - Related Party Transac

Note 13 - Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	1 3 ) 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 third A related party manages natural gas purchases for FutureFuel, initially pays for the natural gas, and subsequently invoices FutureFuel for the same plus a nominal fee for such services. The natural gas matter as discussed in Note 17, not

Note 14 - Segment Information

Note 14 - Segment Information	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 4 ) SEGMENT INFORMATION FutureFuel has two reportable segments organized along similar product groups – chemicals and biofuels. Chemicals FutureFuel’s chemical segment manufactures diversified chemical products that are sold externally to third Biofuels FutureFuel’s biofuels 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 revenue also includes the sale of biodiesel blends with petrodiesel; petrodiesel with no not not may Summary of business by segment Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue Custom chemicals $ 12,720 $ 10,328 $ 35,655 $ 52,129 Performance chemicals 3,971 2,409 12,693 11,139 Chemicals revenue 16,691 12,737 48.348 63,268 Biofuels revenue 81,991 41,401 165,968 91,374 Total Revenue $ 98,682 $ 54,138 $ 214,316 $ 154,642 Segment gross profit (loss) Chemicals $ 5,105 $ 4,754 $ 8,089 $ 20,345 Biofuels 3,087 1,692 (10,676 ) 3,411 Total gross profit (loss) $ 8,192 $ 6,446 $ (2,587 ) $ 23,756 Depreciation is allocated to segment cost of goods sold based on plant usage. The total assets and capital expenditures of FutureFuel have not

Note 15 - Special Cash Dividend

Note 15 - Special Cash Dividend	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Special Cash Dividend [Text Block]	15 ) SPECIAL CASH DIVIDEND On May 10, 2021, June 4, 2021. three March 31, 2020, April 17, 2020.

Note 16 - Recently Issued Accou

Note 16 - Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	16 ) RECENTLY ISSUED ACCOUNTING STA NDARDS ASU 2020 04, Reference Rate Reform 848 Facilitation of the Effects of Reference Rate Reform on Financial Reporting March 12, 2020, 10,

Note 17 - Legal Matters

Note 17 - Legal Matters	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	17 ) 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 As a result of the extraordinary increase in natural gas prices, the Attorney General of Arkansas has launched a civil investigative demand against several natural gas suppliers. At this time the company is disputing the February 2021 The natural gas expense was a component of Cost of goods sold-related parties in the Consolidated Statements of Operations and Comprehensive Income in the three March 31, 2021 nine September 30, 2021. 13, not

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Contract Assets and Liability Balances September 30, 2021 December 31, 2020 Trade receivables, included in accounts receivable* $ 13,453 $ 12,279 Contract assets, included in accounts receivable $ 423 $ 808 Contract liabilities, included in deferred revenue - short-term $ 6,058 $ 3,769 Contract liabilities, included in deferred revenue - long-term $ 14,169 $ 17,943
Disaggregation of Revenue [Table Text Block]	Three Months Ended , Nine Months Ended September 30, 2021 2020 2021 2020 Contract revenue from customers with > 1 year arrangements $ 6,232 $ 4,995 $ 17,109 $ 19,518 Contract revenue from customers with < 1 year arrangements 92,395 49,088 197,041 136,975 Revenue from non-contractual arrangements 55 55 166 166 BTC rebate - - - (2,017 ) Total revenue $ 98,682 $ 54,138 $ 214,316 $ 154,642 Three Months Ended , Nine Months Ended September 30, 2021 2020 2021 2020 Bill-and-hold revenue $ 9,185 $ 7,400 $ 24,612 $ 24,888 Non-bill-and-hold revenue 89,497 46,738 189,704 129,754 Total revenue $ 98,682 $ 54,138 $ 214,316 $ 154,642

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 2021 December 31, 2020 At average cost (approximates current cost) Finished goods $ 8,119 $ 15,452 Work in process 483 1,632 Raw materials and supplies 47,028 22,674 55,630 39,758 LIFO reserve (11,936 ) (5,869 ) Total inventory $ 43,694 $ 33,889

Note 5 - Derivative Instrumen_2

Note 5 - Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Derivative Instruments [Table Text Block]	Asset (Liability) September 30, 2021 December 31, 2020 Contract Quantity Short Fair Value Contract Quantity Short Fair Value Regulated fixed price future commitments 360 $ (2,023 ) 250 $ 124

Note 6 - Marketable Securities

Note 6 - Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Marketable Securities [Table Text Block]	September 30, 2021 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Trust preferred stock $ 3,676 $ 196 $ - $ 3,873 December 31, 2020 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Trust preferred stock $ 3,676 $ 264 $ - $ 3,940

Note 7 - Fair Value Measureme_2

Note 7 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Asset (Liability) Fair Value at Fair Value Measurements Using Inputs Considered as: Description September 30, 2021 Level 1 Level 2 Level 3 Derivative instruments $ (2,023 ) $ (2,023 ) $ - $ - Preferred stock and other equity instruments $ 41,291 $ 41,291 $ - $ - Trust preferred stock $ 3,873 $ 3,873 $ - $ - Asset (Liability) Fair Value at Fair Value Measurements Using Inputs Considered as: Description December 31, 2020 Level 1 Level 2 Level 3 Derivative instruments $ 124 $ 124 $ - $ - Preferred stock and other equity instruments $ 60,464 $ 60,464 $ - $ - Trust preferred stock $ 3,940 $ 3,940 $ - $ -

Note 9 - Accrued Expenses and_2

Note 9 - Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, 2021 December 31, 2020 Accrued employee liabilities $ 2,632 $ 2,609 Accrued property, franchise, motor fuel and other taxes 1,141 1,730 Lease liability, current 639 491 Accrued directors' fees 208 - Other 204 247 Total $ 4,824 $ 5,077

Note 10 - Borrowings (Tables)

Note 10 - Borrowings (Tables)	9 Months Ended
	Sep. 30, 2021
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 1.00% 0.00% 0.15% ≥ 1.00:1.0 And < 1.50:1.0 1.25% 0.25% 0.15% ≥ 1.50:1.0 And < 2.00:1.0 1.50% 0.50% 0.20% ≥ 2.00:1.0 And < 2.50:1.0 1.75% 0.75% 0.20% ≥ 2.50:1.0 2.00% 1.00% 0.25%

Note 11 - Income Tax Provision

Note 11 - Income Tax Provision (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Income tax benefit $ (3,181 ) $ (830 ) $ (12,037 ) $ (18,931 ) Effective tax rate (52.8 %) (13.7 %) (148.1 %) (85.4 %)

Note 12 - Earnings Per Share (T

Note 12 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Numerator: Net income $ 9,202 $ 6,890 $ 3,910 $ 41,092 Denominator: Weighted average shares outstanding – basic 43,763,243 43,743,243 43,753,646 43,743,243 Effect of dilutive securities: Stock options and other awards - 2,096 63 864 Weighted average shares outstanding – diluted 43,763,243 43,745,339 43,753,709 43,744,107 Basic earnings per share $ 0.21 $ 0.16 $ 0.09 $ 0.94 Diluted earnings per share $ 0.21 $ 0.16 $ 0.09 $ 0.94

Note 14 - Segment Information (

Note 14 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue Custom chemicals $ 12,720 $ 10,328 $ 35,655 $ 52,129 Performance chemicals 3,971 2,409 12,693 11,139 Chemicals revenue 16,691 12,737 48.348 63,268 Biofuels revenue 81,991 41,401 165,968 91,374 Total Revenue $ 98,682 $ 54,138 $ 214,316 $ 154,642 Segment gross profit (loss) Chemicals $ 5,105 $ 4,754 $ 8,089 $ 20,345 Biofuels 3,087 1,692 (10,676 ) 3,411 Total gross profit (loss) $ 8,192 $ 6,446 $ (2,587 ) $ 23,756

Note 1 - Nature of Operations_2

Note 1 - Nature of Operations and Basis of Presentation (Details Textual)	9 Months Ended
	Sep. 30, 2021a
Area of Land (Acre)	2,200
Number of Operating Segments	2

Note 3 - Revenue Recognition 1

Note 3 - Revenue Recognition 1 (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Increase (Decrease) in Contract with Customer, Liability			$ (1,652)	$ (793)
Accounts Receivable, Blenders' Tax Credit	$ 12,679		12,679		$ 8,300
Accounts Receivable, Allowance for Credit Loss, Ending Balance	55		55		$ 63
Bill and Hold Inventory Invoiced, but not Shipped [Member]
Contract with Customer, Liability, Total	3,052		3,052
Chemicals [Member]
Increase (Decrease) in Contract with Customer, Liability	178	$ 95	707	3,453
Contract with Customer, Liability, Revenue Recognized	$ 456	$ 174	$ 2,192	$ 4,080

Note 3 - Revenue Recognition 2

Note 3 - Revenue Recognition 2 (Details Textual) $ in Thousands	Sep. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Amount	$ 20,227
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	12 months
Revenue, Remaining Performance Obligation, Percentage	30.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	45 months
Revenue, Remaining Performance Obligation, Percentage	70.00%

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Trade receivables, included in accounts receivable*	[1]	$ 13,453	$ 12,279
Contract assets, included in accounts receivable		423	808
Contract liabilities, included in deferred revenue - short-term		6,058	3,769
Contract liabilities, included in deferred revenue - long-term		$ 14,169	$ 17,943
[1]	Exclusive of the BTC of $12,679 and $8,300, respectively, and net of allowances for bad debt of $55 and $63, respectively, as of the dates noted.

Note 3 - Revenue Recognition _2

Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 98,682	$ 54,138	$ 214,316	$ 154,642
Revenue from non-contractual arrangements	55	55	166	166
BTC rebate	0	0	0	(2,017)
Bill and Hold Revenue [Member]
Revenue	9,185	7,400	24,612	24,888
Non-bill and Hold Revenue [Member]
Revenue	89,497	46,738	189,704	129,754
Long-term Contract Revenue [Member]
Revenue	6,232	4,995	17,109	19,518
Short-term Contract Revenue [Member]
Revenue	$ 92,395	$ 49,088	$ 197,041	$ 136,975

Note 4 - Inventory - Carrying V

Note 4 - Inventory - Carrying Values of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finished goods	$ 8,119	$ 15,452
Work in process	483	1,632
Raw materials and supplies	47,028	22,674
Inventory, gross	55,630	39,758
LIFO reserve	(11,936)	(5,869)
Total inventory	$ 43,694	$ 33,889

Note 5 - Derivative Instrumen_3

Note 5 - Derivative Instruments (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net, Total	$ (2,348)	$ 867	$ (10,377)	$ 6,789
Restricted Cash and Cash Equivalents, Total	$ 3,452		$ 3,452		$ 933

Note 5 - Derivative Instrumen_4

Note 5 - Derivative Instruments - Carrying Value of Derivative Instruments (Details) - Future [Member] $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Contract quantity short	360	250
Fair value Liabilities	$ (2,023)	$ 124

Note 6 - Marketable Securitie_2

Note 6 - Marketable Securities (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Equity Securities, FV-NI, Unrealized Gain (Loss), Total	$ (805)	$ 1,961	$ (1,027)	$ (5,445)
Debt Securities, Available-for-sale, Unrealized Loss Position, Total	$ 0		0		$ 0
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale, Total		$ 1,500	$ 0	1,500
Debt Securities, Available-for-sale, Realized Gain (Loss), Total				$ 72

Note 6 - Marketable Securitie_3

Note 6 - Marketable Securities - Marketable Securities (Details) - Trust Preferred Securities [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Adjusted Cost	$ 3,676	$ 3,676
Unrealized Gains	196	264
Unrealized Losses	0	0
Fair Value	$ 3,873	$ 3,940

Note 7 - Fair Value Measureme_3

Note 7 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivative instruments	$ (2,023)	$ 124
Preferred stock and other equity instruments	41,291	60,464
Fair Value	3,873	3,940
Fair Value, Inputs, Level 1 [Member]
Derivative instruments	(2,023)	124
Preferred stock and other equity instruments	41,291	60,464
Fair Value	3,873	3,940
Fair Value, Inputs, Level 2 [Member]
Derivative instruments	0	0
Preferred stock and other equity instruments	0	0
Fair Value	0	0
Fair Value, Inputs, Level 3 [Member]
Derivative instruments	0	0
Preferred stock and other equity instruments	0	0
Fair Value	$ 0	$ 0

Note 8 - Intangible Assets (Det

Note 8 - Intangible Assets (Details Textual) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended	9 Months Ended
	Apr. 30, 2015	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Payments to Acquire Intangible Assets	$ 1,408
Impairment of Intangible Assets (Excluding Goodwill), Total			$ 1,315	$ 0
Intangible Assets, Net (Excluding Goodwill), Total		$ 0			$ 1,408
Other Expense [Member]
Impairment of Intangible Assets (Excluding Goodwill), Total		$ 1,315

Note 9 - Accrued Expenses and_3

Note 9 - Accrued Expenses and Other Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accrued employee liabilities	$ 2,632	$ 2,609
Accrued property, franchise, motor fuel and other taxes	1,141	1,730
Accrued directors' fees	208	0
Other	204	247
Total	4,824	5,077
Other Current Liabilities [Member]
Lease liability, current	$ 639	$ 491

Note 10 - Borrowings (Details T

Note 10 - Borrowings (Details Textual) - Regions Bank and PNC Bank N.A. [Member] - Revolving Credit Facility [Member] - USD ($) $ in Thousands	Mar. 30, 2020	Sep. 30, 2021	Dec. 31, 2020
Line of Credit Facility, Expiration Period (Year)	5 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 100,000
Line of Credit Facility Sublimit for Letters of Credit	30,000
Line of Credit Facility Swingline Loans	15,000
Line of Credit Facility, Increase (Decrease) in Maximum Borrowing Amount	$ 65,000
Debt Instrument, Increase (Decrease) in Stated Interest Rate	(0.25%)
Long-term Line of Credit, Total		$ 0	$ 0

Note 10 - Borrowings - Leverage

Note 10 - Borrowings - Leverage Ratio (Details)	9 Months Ended
	Sep. 30, 2021
Leverage Ratio1 [Member]
Commitment Fee	0.15%
Leverage Ratio1 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.00%
Leverage Ratio1 [Member] | Base Rate [Member]
Spread on variable rate	0.00%
Leverage Ratio1 [Member] | Maximum [Member]
Leverage ratio	1
Leverage Ratio 2 [Member]
Commitment Fee	0.15%
Leverage Ratio 2 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.25%
Leverage Ratio 2 [Member] | Base Rate [Member]
Spread on variable rate	0.25%
Leverage Ratio 2 [Member] | Maximum [Member]
Leverage ratio	1.50
Leverage Ratio 2 [Member] | Minimum [Member]
Leverage ratio	1
Leverage Ratio 3 [Member]
Commitment Fee	0.20%
Leverage Ratio 3 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.50%
Leverage Ratio 3 [Member] | Base Rate [Member]
Spread on variable rate	0.50%
Leverage Ratio 3 [Member] | Minimum [Member]
Leverage ratio	1.50
Leverage Ratio 4 [Member]
Commitment Fee	0.20%
Leverage Ratio 4 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.75%
Leverage Ratio 4 [Member] | Base Rate [Member]
Spread on variable rate	0.75%
Leverage Ratio 4 [Member] | Minimum [Member]
Leverage ratio	2
Leverage Ratio 5 [Member]
Commitment Fee	0.25%
Leverage Ratio 5 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	2.00%
Leverage Ratio 5 [Member] | Base Rate [Member]
Spread on variable rate	1.00%
Leverage Ratio 5 [Member] | Minimum [Member]
Leverage ratio

Note 11 - Income Tax Provisio_2

Note 11 - Income Tax Provision - Summary of Provisions for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income tax benefit	$ (3,181)	$ (830)	$ (12,037)	$ (18,931)
Effective tax rate	(52.80%)	(13.70%)	(148.10%)	(85.40%)

Note 12 - Earnings Per Share (D

Note 12 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	24,000	40,000	30,603	54,667

Note 12 - Earnings Per Share -

Note 12 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Net income	$ 9,202	$ 3,481	$ (8,773)	$ 6,890	$ 15,159	$ 19,043	$ 3,910	$ 41,092
Weighted average shares outstanding – basic (in shares)	43,763,243			43,743,243			43,753,646	43,743,243
Stock options and other awards (in shares)	0			2,096			63	864
Weighted average shares outstanding – diluted (in shares)	43,763,243			43,745,339			43,753,709	43,744,107
Basic (in dollars per share)	$ 0.21			$ 0.16			$ 0.09	$ 0.94
Diluted (in dollars per share)	$ 0.21			$ 0.16			$ 0.09	$ 0.94

Note 14 - Segment Information_2

Note 14 - Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2021
Number of Reportable Segments	2
Chemicals [Member]
Number of Reportable Segments	2

Note 14 - Segment Information -

Note 14 - Segment Information - Summary of Business by Segment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues	$ 98,682,000	$ 54,138,000	$ 214,316,000	$ 154,642,000
Gross profit	8,192,000	6,446,000	(2,587,000)	23,756,000
Operating Segments [Member] | Chemicals [Member]
Revenues	16,691,000	12,737,000	48,348	63,268,000
Gross profit	5,105,000	4,754,000	8,089,000	20,345,000
Operating Segments [Member] | Chemicals [Member] | Custom Chemicals [Member]
Revenues	12,720,000	10,328,000	35,655,000	52,129,000
Operating Segments [Member] | Chemicals [Member] | Performance Chemicals [Member]
Revenues	3,971,000	2,409,000	12,693,000	11,139,000
Operating Segments [Member] | Biofuels [Member]
Revenues	81,991,000	41,401,000	165,968,000	91,374,000
Gross profit	$ 3,087,000	$ 1,692,000	$ (10,676,000)	$ 3,411,000

Note 15 - Special Cash Divide_2

Note 15 - Special Cash Dividend (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jun. 04, 2021	May 10, 2021	Apr. 17, 2020	Jun. 30, 2021	Mar. 31, 2020
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 2.50		$ 2.50	$ 3
Dividends, Common Stock, Cash	$ 109,408		$ 131,230