Crimson Wine (CWGL) 10-Q 8 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 08, 2013
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'
Entity Registrant Name	'Crimson Wine Group, Ltd	'
Entity Central Index Key	'0001562151	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	24,458,368

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current assets:	'	'
Cash and cash equivalents	$15,460,000	$5,704,000
Investments available for sale	8,706,000	'
Accounts receivable, net	4,527,000	4,501,000
Inventory	45,649,000	43,061,000
Other current assets	851,000	872,000
Total current assets	75,193,000	54,138,000
Property and equipment, net	109,212,000	108,986,000
Goodwill	1,053,000	1,053,000
Intangibles and other non-current assets	19,205,000	20,026,000
Total assets	204,663,000	184,203,000
Current liabilities:	'	'
Accounts payable	5,071,000	1,279,000
Accrued expenses	4,262,000	4,679,000
Customer deposits	1,704,000	229,000
Due to Leucadia National Corporation and its affiliates	'	152,183,000
Total liabilities	11,037,000	158,370,000
EQUITY	'	'
Common shares, par value $0.01 per share, authorized 150,000,000 shares; 24,458,368 issued and outstanding	245,000	245,000
Additional paid-in capital	277,520,000	112,302,000
Accumulated other comprehensive loss	-44,000	'
Accumulated deficit	-84,095,000	-86,714,000
Toal equity	193,626,000	25,833,000
Total	$204,663,000	$184,203,000

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Consolidated Balance Sheets [Abstract]	'	'
Common stock, par value	$0.01	$0.01
Common shares, authorized	150,000,000	150,000,000
Common shares, shares issued	24,458,368	24,458,368
Common shares, shares outstanding	24,458,368	24,458,368

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations (USD $)	3 Months Ended		9 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Consolidated Statements Of Operations [Abstract]	'	'	'	'
Net sales	$12,486,000	$12,520,000	$39,713,000	$34,270,000
Cost of sales	6,419,000	5,608,000	20,915,000	16,474,000
Gross profit	6,067,000	6,912,000	18,798,000	17,796,000
Operating expenses:	'	'	'	'
Sales and marketing	3,434,000	2,665,000	9,040,000	8,084,000
General and administrative	2,152,000	1,640,000	6,998,000	5,226,000
Administrative service fees paid to Leucadia National Corporation	24,000	'	84,000	'
Total operating expenses	5,610,000	4,305,000	16,122,000	13,310,000
Income from operations	457,000	2,607,000	2,676,000	4,486,000
Other income (expense):	'	'	'	'
Interest expense	-39,000	-1,305,000	-863,000	-3,885,000
Other income, net	27,000	4,000	920,000	184,000
Total other income (expense)	-12,000	-1,301,000	57,000	-3,701,000
Income before income taxes	445,000	1,306,000	2,733,000	785,000
Income tax provision	38,000	2,000	114,000	2,000
Net income	$407,000	$1,304,000	$2,619,000	$783,000
Basic and fully diluted weighted-average shares outstanding	24,458	24,458	24,458	24,458
Basic and fully diluted earnings per share	$0.02	$0.05	$0.11	$0.03

Consolidated_Statements_Of_Com

Consolidated Statements Of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Consolidated Statements Of Comprehensive Income [Abstract]	'	'	'	'
Net income	$407	$1,304	$2,619	$783
Other comprehensive loss:	'	'	'	'
Net unrealized holding losses on investments arising during the period	'	'	-44	'
Other comprehensive loss	'	'	-44	'
Comprehensive income	$407	$1,304	$2,575	$783

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Net cash flows from operating activities:	'	'
Net income	$2,619,000	$783,000
Adjustments to reconcile net income (loss) to net cash provided by operations:	'	'
Depreciation and amortization of property and equipment	3,999,000	4,084,000
Amortization of intangible assets	1,136,000	1,136,000
Leucadia National Corporation and its affiliates interest expense added to principal	572,000	2,758,000
Net loss (gain) related to disposals of property and equipment	-688,000	133,000
Net change in:	'	'
Receivables	-26,000	-719,000
Inventory	-2,588,000	-2,481,000
Other current assets	21,000	185,000
Other non-current assets	-315,000	'
Accounts payable, expense accruals and due to Leucadia National Corporation and its affiliates	3,371,000	387,000
Customer deposits	1,475,000	850,000
Income taxes payable	-9,000	'
Net cash provided by operating activities	9,567,000	7,116,000
Net cash flows from investing activities:	'	'
Purchase of investments available for sale	-8,750,000	'
Acquisition of property and equipment	-5,324,000	-1,940,000
Proceeds from disposals of property and equipment	1,788,000	22,000
Net cash used for investing activities	-12,286,000	-1,918,000
Net cash flows from financing activities:	'	'
Reduction of debt	-1,700,000	-2,500,000
Capital contribution by Leucadia National Corporation	14,175,000	'
Net cash provided by (used for) financing activities	12,475,000	-2,500,000
Net increase in cash and cash equivalents	9,756,000	2,698,000
Cash and cash equivalents at January 1	5,704,000	5,631,000
Cash and cash equivalents at September 30	15,460,000	8,329,000
Supplemental disclosure of cash flow information	'	'
Interest	202,000	1,138,000
Income tax payments, net	129,000	2,000
Non-cash financing activity:	'	'
Conversion of accrued interest to long-term debt	572,000	2,758,000
Conversion of due to Leucadia National Corporation to equity	$151,043,000	'

Consolidated_Statements_Of_Cha

Consolidated Statements Of Changes In Equity (USD $)	Common Shares Par Value [Member]	Additional Paid-In-Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Total
In Thousands
Balance, at Dec. 31, 2011	$245	$112,302	'	($86,925)	$25,622
Net income	'	'	'	783	783
Balance, at Sep. 30, 2012	245	112,302	'	-86,142	26,405
Balance, at Dec. 31, 2012	245	112,302	'	-86,714	25,833
Net income	'	'	'	2,619	2,619
Other comprehensive loss	'	'	-44	'	-44
Cash capital contribution upon spin-off	'	14,175	'	'	14,175
Debt conversion to equity upon spin-off	'	151,043	'	'	151,043
Balance, at Sep. 30, 2013	$245	$277,520	($44)	($84,095)	$193,626

Explanatory_Note

Explanatory Note	9 Months Ended
	Sep. 30, 2013
Explanatory Note [Abstract]	'
Explanatory Note	'
	1.Explanatory Note:
	Crimson Wine Group, Ltd. (“Crimson”) is a Delaware company that has been operating since 1991.  As used herein, the term “Company” refers to Crimson and its wholly-owned subsidiaries, except as the context may otherwise require.  Prior to February 25, 2013, Crimson was a wholly-owned subsidiary of Leucadia National Corporation (“Leucadia”).  On February 1, 2013, Leucadia declared a pro rata dividend to Leucadia’s common shareholders of all of the outstanding shares of Crimson’s common stock in a manner that was structured to qualify as a tax-free spin-off for U.S. federal income tax purposes (the “Distribution”).  Leucadia’s common shareholders received one share of Crimson common stock for every ten common shares of Leucadia (24,458,368 Crimson common shares in the aggregate), with cash in lieu of fractional shares, on February 25, 2013.    The consolidated financial statements and notes thereto give retroactive effect to the Distribution for all periods presented.
	Crimson qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act (the “JOBS Act”).  An emerging growth company is defined as a company with total annual gross revenues of less than $1 billion in its most recently completed fiscal year.  An emerging growth company will retain such status until the earliest of: (1) the last day of the fiscal year of the emerging growth company following the fifth anniversary of the date it first sold common equity securities pursuant to an effective registration statement under the Securities Act of 1933, as amended; (2) the last day of the fiscal year in which the emerging growth company first had total annual gross revenues of $1 billion or more (indexed pursuant to the JOBS Act); (3) the date on which the emerging growth company is deemed to be a “large accelerated filer” as defined in Rule 12b-2 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), (i.e., an SEC registered company with a public float of at least $700 million that satisfies other tests); or (4) the date on which the emerging growth company has, within the previous three years, issued more than $1 billion of nonconvertible debt.  Crimson has elected to opt out of the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act.  This election is irrevocable.

Significant_Accounting_Policie

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Significant Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	2.Significant Accounting Policies:
	The unaudited interim consolidated financial statements, which reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes necessary to fairly state results of interim operations, should be read in conjunction with the Notes to Consolidated Financial Statements (including the Significant Accounting Policies) included in the Company’s audited consolidated financial statements for the year ended December 31, 2012, as filed with the Securities and Exchange Commission (the “SEC”) on Form 10-K (the “2012 Report”).  Results of operations for interim periods are not necessarily indicative of annual results of operations.  The consolidated balance sheet at December 31, 2012 was extracted from the audited annual financial statements and does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements.
	Effective January 1, 2013, the Company adopted amended Financial Accounting Standards Board guidance for indefinite lived intangible asset impairment testing. The amended guidance allows an entity to assess qualitative factors to determine whether the existence of events and circumstances indicate that it is more likely than not that an indefinite lived intangible asset is impaired. If an entity concludes it is not more likely than not that an indefinite lived intangible asset is impaired, the entity is not required to take further action. If an entity concludes otherwise, then the entity would be required to determine the fair value of the indefinite lived intangible asset and compare the fair value with the carrying amount of the indefinite lived intangible asset. The Company was required to adopt this amended guidance for its annual and interim periods beginning January 1, 2013. The adoption of this amended guidance did not have a significant impact on the Company's consolidated financial statements.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2013
Inventory [Abstract]	'
Inventory	'
	3.Inventory:
	A summary of inventory at September 30, 2013 and December 31, 2012 is as follows (in thousands):
		2013		2012
		(Unaudited)		(Audited)
	Case Wine	$	26,516	$	21,583
	Bulk Wine		19,065		21,090
	Packaging and bottling supplies		68		388
		$	45,649	$	43,061
	Bulk wine inventory includes cost of growing grapes not yet harvested as of September 30, 2013 and December 31, 2012, respectively.

Property_And_Equipment

Property And Equipment	9 Months Ended
	Sep. 30, 2013
Property And Equipment [Abstract]	'
Property And Equipment	'
	4.Property and Equipment:
	A summary of property and equipment at September 30, 2013 and December 31, 2012 is as follows (in thousands):
		Depreciable	2013		2012
		Lives
		(in years)
			(Unaudited)		(Audited)
	Land and improvements	N/A	$	41,580	$	42,192
	Buildings and improvements	20-40		43,647		40,624
	Vineyards and improvements	25-Jul		35,236		35,838
	Winery and vineyard equipment	25-Mar		22,654		21,959
	Caves	20-40		5,638		5,638
	Vineyards under development	N/A		1,126		812
	Construction in progress	N/A		1,845		1,301
				151,726		148,364
	Accumulated depreciation and amortization			-42,514		-39,378
			$	109,212	$	108,986
	For the nine months ended September 30, 2013 and 2012, depreciation expense was $3,999,000 and $4,084,000, respectively, with $3,369,000 and $3,484,000, respectively, capitalized into inventory and $630,000 and $600,000, respectively, charged to the statements of operations.
	In the first quarter of 2013, the Company sold a non-strategic vineyard for net cash consideration of $1,754,000.  The Company recorded a pre-tax gain of $717,000, net of closing costs, during the first quarter of 2013.

Financial_Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2013
Financial Instruments [Abstract]	'
Financial Instruments	'
	5.Financial Instruments:
	The Company’s material financial instruments include cash and cash equivalents and investments classified as available for sale; investments classified as available for sale are the only assets or liabilities that are measured at fair value on a recurring basis.  All of the Company’s investments mature within three years or less.  The par value, amortized cost, gross unrealized gains and losses and estimated fair value of investments classified as available for sale as of September 30, 2013 and December 31, 2012 are as follows (in thousands):
		Par Value		Amortized Cost		Gross Unrealized Loss		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Total Fair Value Measurements
								(Level 1)		(Level 2)
	30-Sep-13
	Certificates of Deposit	$	8,750	$	8,750	$	44	$	8,706	$	-	$	8,706
	31-Dec-12
	Certificates of Deposit	$	-	$	-	$	-	$	-	$	-	$	-
	As of September 30, 2013, the Company did not have any assets or liabilities measured at fair value on a nonrecurring basis.
	For cash and cash equivalents, the carrying amounts of such financial instruments approximate their fair values.
	The Company does not invest in any derivatives or engage in any hedging activities.

Intangible_Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2013
Intangible Assets [Abstract]	'
Intangible Assets	'
	6.Intangible Assets:
	A summary of intangible assets at September 30, 2013 and December 31, 2012 is as follows (in thousands):
		2013		2012
		(Unaudited)		(Audited)
	Brand, net of accumulated amortization of $2,402 and $1,630	$	15,098	$	15,870
	Distributor relationships, net of accumulated amortization of $433 and $294		2,167		2,306
	Customer relationships, net of accumulated amortization of $632 and $429		1,268		1,471
	Legacy permits, net of accumulated amortization of $42 and $28		208		222
	Other, net of accumulated amortization of $51 and $43		464		157
		$	19,205	$	20,026
	Amortization expense on intangible assets was $1,136,000 for each of the nine month periods ended September 30, 2013 and 2012.  The estimated aggregate future amortization expense for the intangible assets is $378,000 for the remainder of 2013 and $1,514,000 for each of the four years after 2013.

Due_To_Leucadia_And_Its_Affili

Due To Leucadia And Its Affiliates	9 Months Ended
	Sep. 30, 2013
Due To Leucadia And Its Affiliates [Abstract]	'
Due To Leucadia And Its Affiliates	'
	7.Due to Leucadia and its Affiliates:
	On February 25, 2013, the remaining balance of $151,043,000 due to Leucadia and its affiliates was contributed by Leucadia to the capital of the Company.  Interest expense related to Leucadia and its affiliates was $0 and $1,305,000 for the three months ended September 30, 2013 and 2012, respectively, and $783,000 and $3,885,000 for the nine months ended September 30, 2013 and 2012, respectively.
	Effective March 1, 2013, the Company entered into an administrative service agreement with Leucadia.  Pursuant to this agreement, Leucadia provides certain administrative, SEC, tax filing and accounting services, including providing the services of the Company’s Corporate Secretary, for a monthly fee of $15,000.  Administrative services fees expense was $24,000 and $84,000 for the three and nine month period ended September 30, 2013, respectively.
	Effective August 1, 2013, Leucadia and the Company agreed to amend the administrative service agreement to reduce the administrative services provided to the Company by Leucadia and correspondingly reduce the monthly fee from $15,000 to $4,500.  The Company will provide the administrative services that will no longer be provided to the Company by Leucadia.  The amendment also provides that the administrative services agreement will terminate in full in February 2014.
	In March 2013, pursuant to the separation agreement entered into with Leucadia, Leucadia paid $14,175,000 to Crimson as a capital contribution.  No additional capital contributions from Leucadia are required or anticipated to be made.

Debt

Debt	9 Months Ended
	Sep. 30, 2013
Debt [Abstract]	'
Debt	'
	8. Debt:
	In March 2013, Crimson entered into a $60,000,000 revolving credit facility with American AgCredit, FLCA, as agent for the lenders identified in the revolving credit facility, comprised of a revolving loan facility and a term revolving loan facility, which together is secured by substantially all of Crimson’s assets.  The revolving credit facility is for up to $10,000,000 of availability in the aggregate for a five year term, and the term revolving credit facility is for up to $50,000,000 in the aggregate.  All obligations of Crimson under the revolving credit facility are collateralized by certain real property, including vineyards and certain winery facilities of Crimson, accounts receivable, inventory and intangibles.  Covenants include the maintenance of specified debt and equity ratios, limitations on the incurrence of additional indebtedness, limitations on dividends and other distributions to shareholders and restrictions on certain mergers, consolidations and sales of assets.  In addition to unused line fees ranging from 0.25% to 0.375%, rates for the borrowings are priced based on a performance grid tied to certain financial ratios and the London Interbank Offered Rate, and would have been 2.182% to 2.518% at September 30, 2013.    The revolving credit facility can be used to fund acquisitions and working capital requirements; no amounts have been borrowed under the facility to date.

Revenues_And_Gross_Profit

Revenues And Gross Profit	9 Months Ended
	Sep. 30, 2013
Revenues And Gross Profit [Abstract]	'
Revenues And Gross Profit	'
	9.Revenues and Gross Profit:
	The Company generates revenues from sales of wine to wholesalers and direct to consumers, sales of bulk wine and grapes, special event fees, tasting fees and retail sales.  Revenues and gross profit for the three and nine months ended September 30, 2013 and 2012 are as follows (in thousands):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
	Revenues:
	Wholesalers	$	7,513	$	7,552	$	24,178	$	19,999
	Direct to consumers		3,795		4,211		12,916		12,256
	Bulk wine and grape sales, event fees and retail sales		1,178		757		2,619		2,015
		$	12,486	$	12,520	$	39,713	$	34,270
	Gross profit:
	Wholesalers	$	3,323	$	4,089	$	10,682	$	10,132
	Direct to consumers		2,409		2,608		7,980		7,189
	Bulk wine and grape sales, event fees and retail sales		335		215		136		475
		$	6,067	$	6,912	$	18,798	$	17,796
	Excise taxes of $225,000 and $239,000 for the three months ended September 30, 2013 and 2012, respectively, and $731,000 and $634,000 for the nine months ended September 30, 2013 and 2012, respectively, were recognized as a reduction to wine sales.

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	10.Subsequent events:
	Subsequent events are events or transactions that occur after the balance sheet date, but before the financial statements are available to be issued. The financial statements recognize the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the financial statements. Subsequent events have been evaluated through November 8, 2013, which is the date the financial statements were available to be issued.

Significant_Accounting_Policie1

Significant Accounting Policies (Policy)	9 Months Ended
	Sep. 30, 2013
Significant Accounting Policies [Abstract]	'
Basis Of Accounting	'
	The unaudited interim consolidated financial statements, which reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes necessary to fairly state results of interim operations, should be read in conjunction with the Notes to Consolidated Financial Statements (including the Significant Accounting Policies) included in the Company’s audited consolidated financial statements for the year ended December 31, 2012, as filed with the Securities and Exchange Commission (the “SEC”) on Form 10-K (the “2012 Report”).  Results of operations for interim periods are not necessarily indicative of annual results of operations.  The consolidated balance sheet at December 31, 2012 was extracted from the audited annual financial statements and does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for annual financial statements.
Indefinite Lived Intangible Asset Impairment Testing	'
	Effective January 1, 2013, the Company adopted amended Financial Accounting Standards Board guidance for indefinite lived intangible asset impairment testing. The amended guidance allows an entity to assess qualitative factors to determine whether the existence of events and circumstances indicate that it is more likely than not that an indefinite lived intangible asset is impaired. If an entity concludes it is not more likely than not that an indefinite lived intangible asset is impaired, the entity is not required to take further action. If an entity concludes otherwise, then the entity would be required to determine the fair value of the indefinite lived intangible asset and compare the fair value with the carrying amount of the indefinite lived intangible asset. The Company was required to adopt this amended guidance for its annual and interim periods beginning January 1, 2013. The adoption of this amended guidance did not have a significant impact on the Company's consolidated financial statements.

Inventory_Tables

Inventory (Tables)	9 Months Ended
	Sep. 30, 2013
Inventory [Abstract]	'
Summary Of Inventory	'
		2013		2012
		(Unaudited)		(Audited)
	Case Wine	$	26,516	$	21,583
	Bulk Wine		19,065		21,090
	Packaging and bottling supplies		68		388
		$	45,649	$	43,061

Property_And_Equipment_Tables

Property And Equipment (Tables)	9 Months Ended
	Sep. 30, 2013
Property And Equipment [Abstract]	'
Summary Of Property And Equipment	'
		Depreciable	2013		2012
		Lives
		(in years)
			(Unaudited)		(Audited)
	Land and improvements	N/A	$	41,580	$	42,192
	Buildings and improvements	20-40		43,647		40,624
	Vineyards and improvements	25-Jul		35,236		35,838
	Winery and vineyard equipment	25-Mar		22,654		21,959
	Caves	20-40		5,638		5,638
	Vineyards under development	N/A		1,126		812
	Construction in progress	N/A		1,845		1,301
				151,726		148,364
	Accumulated depreciation and amortization			-42,514		-39,378
			$	109,212	$	108,986

Financial_Instruments_Tables

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2013
Financial Instruments [Abstract]	'
Schedule Of Available For Sale Securities	'
		Par Value		Amortized Cost		Gross Unrealized Loss		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Total Fair Value Measurements
								(Level 1)		(Level 2)
	30-Sep-13
	Certificates of Deposit	$	8,750	$	8,750	$	44	$	8,706	$	-	$	8,706
	31-Dec-12
	Certificates of Deposit	$	-	$	-	$	-	$	-	$	-	$	-

Intangible_Assets_Tables

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Intangible Assets [Abstract]	'
Summary Of Intangible Assets	'
		2013		2012
		(Unaudited)		(Audited)
	Brand, net of accumulated amortization of $2,402 and $1,630	$	15,098	$	15,870
	Distributor relationships, net of accumulated amortization of $433 and $294		2,167		2,306
	Customer relationships, net of accumulated amortization of $632 and $429		1,268		1,471
	Legacy permits, net of accumulated amortization of $42 and $28		208		222
	Other, net of accumulated amortization of $51 and $43		464		157
		$	19,205	$	20,026

Revenues_And_Gross_Profit_Tabl

Revenues And Gross Profit (Tables)	9 Months Ended
	Sep. 30, 2013
Revenues And Gross Profit [Abstract]	'
Summary Of Revenues And Gross Profit	'
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
	Revenues:
	Wholesalers	$	7,513	$	7,552	$	24,178	$	19,999
	Direct to consumers		3,795		4,211		12,916		12,256
	Bulk wine and grape sales, event fees and retail sales		1,178		757		2,619		2,015
		$	12,486	$	12,520	$	39,713	$	34,270
	Gross profit:
	Wholesalers	$	3,323	$	4,089	$	10,682	$	10,132
	Direct to consumers		2,409		2,608		7,980		7,189
	Bulk wine and grape sales, event fees and retail sales		335		215		136		475
		$	6,067	$	6,912	$	18,798	$	17,796

Explanatory_Note_Details

Explanatory Note (Details)	9 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Explanatory Note [Abstract]	'	'
Number of shares per one share issued	10	'
Shares outstanding	24,458,368	24,458,368

Inventory_Details

Inventory (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Inventory	$45,649	$43,061
Case Wine [Member]	'	'
Inventory	26,516	21,583
Bulk Wine [Member]	'	'
Inventory	19,065	21,090
Packaging And Bottling Supplies [Member]	'	'
Inventory	$68	$388

Property_And_Equipment_Narrati

Property And Equipment (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended
	Mar. 31, 2013	Sep. 30, 2013	Sep. 30, 2012
Property And Equipment [Abstract]	'	'	'
Depreciation expense	'	$3,999,000	$4,084,000
Depreciation capitalized into inventory	'	3,369,000	3,484,000
Depreciation charged to Statement of Operations	'	630,000	600,000
Proceeds from sale of non-strategic vineyard	1,754,000	'	'
Pre-tax gain on sale of vineyard	$717,000	'	'

Property_And_Equipment_Summary

Property And Equipment (Summary Of Property And Equipment) (Details) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	151,726	148,364
Accumulated depreciation and amortization	-42,514	-39,378
Property and equipment, net	109,212	108,986
Land And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	41,580	42,192
Buildings And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	43,647	40,624
Vineyards And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	35,236	35,838
Winery And Vineyard Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	22,654	21,959
Caves [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	5,638	5,638
Vineyards Under Development [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	1,126	812
Construction In Progress [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	1,845	1,301
Minimum [Member] | Buildings And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciable Lives	'20 years	'20 years
Minimum [Member] | Vineyards And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciable Lives	'7 years	'7 years
Minimum [Member] | Winery And Vineyard Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciable Lives	'3 years	'3 years
Minimum [Member] | Caves [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciable Lives	'20 years	'20 years
Maximum [Member] | Buildings And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciable Lives	'40 years	'40 years
Maximum [Member] | Vineyards And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciable Lives	'25 years	'25 years
Maximum [Member] | Winery And Vineyard Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciable Lives	'25 years	'25 years
Maximum [Member] | Caves [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Depreciable Lives	'40 years	'40 years

Financial_Instruments_Narrativ

Financial Instruments (Narrative) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Nonrecurring Basis [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets measured at fair value	0
Liabilities measured at fair value	0
Maximum [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Investment maturity period	'3 years

Financial_Instruments_Schedule

Financial Instruments (Schedule Of Available For Sale Securities) (Details) (Certificates Of Deposit [Member], USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Schedule of Available-for-sale Securities [Line Items]	'
Par Value	$8,750
Amortized Cost	8,750
Gross Unrealized Loss	44
Fair Value Measurements	8,706
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]	'
Schedule of Available-for-sale Securities [Line Items]	'
Fair Value Measurements	$8,706

Intangible_Assets_Narrative_De

Intangible Assets (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Intangible Assets [Abstract]	'	'
Amortization expense on intangible assets	$1,136,000	$1,136,000
Future amortization expense, remainder of 2013	378,000	'
Future amortization expense, 2014	1,514,000	'
Future amortization expense, 2015	1,514,000	'
Future amortization expense, 2016	1,514,000	'
Future amortization expense, 2017	$1,514,000	'

Intangible_Assets_Summary_Of_I

Intangible Assets (Summary Of Intangible Assets) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	$19,205	$20,026
Brand [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	15,098	15,870
Accumulated amortization	2,402	1,630
Distribution Relationships [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	2,167	2,306
Accumulated amortization	433	294
Customer Relationships [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	1,268	1,471
Accumulated amortization	632	429
Legacy Permits [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	208	222
Accumulated amortization	42	28
Other [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	464	157
Accumulated amortization	$51	$43

Due_To_Leucadia_And_Its_Affili1

Due To Leucadia And Its Affiliates (Details) (USD $)	1 Months Ended		3 Months Ended		9 Months Ended
	Aug. 31, 2013	Mar. 31, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Feb. 25, 2013	Dec. 31, 2012
Due To Leucadia And Its Affiliates [Abstract]	'	'	'	'	'	'	'	'
Leucadia debt connected with acquisition	'	'	'	'	'	'	$151,043,000	$152,183,000
Interest expense related to Leucadia and its affiliates	'	'	0	1,305,000	783,000	3,885,000	'	'
Monthly administrative services fees to Leucadia National Corporation	4,500	'	'	'	15,000	'	'	'
Administrative service fees paid to Leucadia National Corporation	'	'	24,000	'	84,000	'	'	'
Capital contribution by Leucadia National Corporation	'	$14,175,000	'	'	$14,175,000	'	'	'

Debt_Details

Debt (Details) (USD $)	9 Months Ended		1 Months Ended		1 Months Ended
	Sep. 30, 2013	Mar. 31, 2013	Mar. 31, 2013	Mar. 31, 2013	Mar. 31, 2013	Mar. 31, 2013
			Revolving Credit Facility A [Member]	Revolving Credit Facility B [Member]	Minimum [Member]	Maximum [Member]
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Credit facility borrowing capacity	'	$60,000,000	$10,000,000	$50,000,000	'	'
Credit facility term	'	'	'5 years	'	'	'
Commitment fees percentage	'	'	'	'	0.25%	0.38%
Lower interest rate if there were outstanding amounts	2.18%	'	'	'	'	'
Higher interest rate if there were outstanding amounts	2.52%	'	'	'	'	'

Revenues_And_Gross_Profit_Deta

Revenues And Gross Profit (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues	$12,486,000	$12,520,000	$39,713,000	$34,270,000
Gross profit	6,067,000	6,912,000	18,798,000	17,796,000
Excise taxes	225,000	239,000	731,000	634,000
Wholesalers [Member]	'	'	'	'
Revenues	7,513,000	7,552,000	24,178,000	19,999,000
Gross profit	3,323,000	4,089,000	10,682,000	10,132,000
Direct to Consumers [Member]	'	'	'	'
Revenues	3,795,000	4,211,000	12,916,000	12,256,000
Gross profit	2,409,000	2,608,000	7,980,000	7,189,000
Bulk Wine And Grape Sales, Event Fees And Retail Sales [Member]	'	'	'	'
Revenues	1,178,000	757,000	2,619,000	2,015,000
Gross profit	$335,000	$215,000	$136,000	$475,000