Crimson Wine (CWGL) 10-Q 8 Aug 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 08, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'
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

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$20,338,000	$13,269,000
Investments available for sale	10,002,000	10,470,000
Accounts receivable, net	5,328,000	5,144,000
Inventory	43,833,000	44,293,000
Other current assets	644,000	1,055,000
Deferred tax asset, current	2,904,000	3,000,000
Total current assets	83,049,000	77,231,000
Property and equipment, net	105,648,000	109,036,000
Goodwill	1,053,000	1,053,000
Intangibles and other non-current assets	18,069,000	18,820,000
Total assets	207,819,000	206,140,000
Current liabilities:	'	'
Accounts payable	706,000	3,896,000
Accrued compensation related expenses	1,584,000	2,061,000
Other accrued expenses	1,111,000	1,226,000
Customer deposits	570,000	328,000
Total current liabilities	3,971,000	7,511,000
Deferred tax liability, non-current	2,453,000	500,000
Total liabilities	6,424,000	8,011,000
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	277,520,000
Accumulated other comprehensive income (loss)	2,000	-30,000
Accumulated deficit	-76,372,000	-79,606,000
Total equity	201,395,000	198,129,000
Total liabilities and equity	$207,819,000	$206,140,000

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Condensed Consolidated Balance Sheets [Abstract]	'	'
Common shares, 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

Condensed_Consolidated_Income_

Condensed Consolidated Income Statements (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Condensed Consolidated Statements Of Operations [Abstract]	'	'	'	'
Net sales	$14,296	$15,221	$27,568	$27,227
Cost of sales	6,099	8,109	12,369	14,496
Gross profit	8,197	7,112	15,199	12,731
Operating expenses:	'	'	'	'
Sales and marketing	3,544	2,974	6,592	5,606
General and administrative	2,582	2,839	4,789	4,846
Administrative service fees paid to Leucadia National Corporation	'	45	9	60
Total operating expenses	6,126	5,858	11,390	10,512
Net loss (gain) on disposals of property and equipment	-1,840	30	-1,820	-665
Income from operations	3,911	1,224	5,629	2,884
Other income (expense):	'	'	'	'
Interest expense	-38	-37	-76	-824
Other income, net	-141	101	-157	228
Total other income (expense), net	-179	64	-233	-596
Income before income taxes	3,732	1,288	5,396	2,288
Income tax provision	1,442	43	2,162	76
Net income	$2,290	$1,245	$3,234	$2,212
Basic and fully diluted weighted-average shares outstanding	24,458	24,458	24,458	24,458
Basic and fully diluted earnings per share	$0.09	$0.05	$0.13	$0.09

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Condensed Consolidated Statements Of Comprehensive Income [Abstract]	'	'	'	'
Net income	$2,290	$1,245	$3,234	$2,212
Other comprehensive income:	'	'	'	'
Reclassification of gains included in net income	-13	'	-13	'
Net unrealized holding gains (losses) on investments arising during the period, net of tax	20	-44	45	-44
Comprehensive income	$2,297	$1,201	$3,266	$2,168

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Cash Flows (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Net cash flows from operating activities:	'	'
Net income	$3,234,000	$2,212,000
Adjustments to reconcile net income to net cash provided by operations:	'	'
Depreciation and amortization of property and equipment	2,728,000	2,698,000
Amortization of intangible assets	757,000	757,000
Leucadia National Corporation and its affiliates interest expense added to principal	'	572,000
Net gain related to disposals of property and equipment	-1,820,000	-665,000
Realized gains on available for sale securities	-13,000	'
Provision for deferred income taxes	2,049,000	'
Net change in:	'	'
Accounts receivable	-184,000	-786,000
Inventory	460,000	2,343,000
Other current assets	411,000	-339,000
Other non-current assets	-6,000	-320,000
Accounts payable and expense accruals	-3,782,000	-1,394,000
Customer deposits	242,000	280,000
Net cash provided by operating activities	4,076,000	5,358,000
Net cash flows from investing activities:	'	'
Purchase of investments available for sale	-2,250,000	-6,750,000
Redemptions of investments available for sale	2,763,000	'
Acquisition of property and equipment	-1,461,000	-3,322,000
Proceeds from disposals of property and equipment	3,941,000	1,765,000
Net cash provided by (used for) investing activities	2,993,000	-8,307,000
Net cash flows from financing activities:	'	'
Reduction of debt	'	-1,700,000
Capital contribution by Leucadia National Corporation	'	14,175,000
Net cash provided by financing activities	'	12,475,000
Net increase in cash and cash equivalents	7,069,000	9,526,000
Cash and cash equivalents at January 1	13,269,000	5,704,000
Cash and cash equivalents at June 30	20,338,000	15,230,000
Supplemental disclosure of cash flow information:	'	'
Interest	75,000	122,000
Income tax payments	212,000	91,000
Non-cash financing activity:	'	'
Conversion of accrued interest to long-term debt	'	572,000
Conversion of due to Leucadia National Corporation to equity	'	151,043,000
Unrealized holding gains on investments	$32,000	'

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements Of Changes In Equity (USD $)	Common Shares $0.01 Par Value [Member]	Additional Paid-In-Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Total
In Thousands
Balance, at Dec. 31, 2012	$245	$112,302	'	($86,714)	$25,833
Net income	'	'	'	2,212	2,212
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 Jun. 30, 2013	245	277,520	-44	-84,502	193,219
Balance, at Dec. 31, 2013	245	277,520	-30	-79,606	198,129
Net income	'	'	'	3,234	3,234
Other comprehensive loss	'	'	32	'	32
Balance, at Jun. 30, 2014	$245	$277,520	$2	($76,372)	$201,395

Explanatory_Note

Explanatory Note	6 Months Ended
	Jun. 30, 2014
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 the six months ended June 30, 2013.
	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	6 Months Ended
	Jun. 30, 2014
Significant Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	2.Significant Accounting Policies:
	The unaudited interim condensed 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, 2013, as filed with the Securities and Exchange Commission (the “SEC”) on Form 10-K (the “2013 Report”).  Results of operations for interim periods are not necessarily indicative of annual results of operations.  The condensed consolidated balance sheet at December 31, 2013 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.
	Net loss (gain) on the disposal of property and equipment previously reported was reclassified as a component of income from operations to conform with current year's presentation.  The reclassification has no impact on previously reported net income, cash flow or equity.
	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 adopted 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.
	In April 2014, the FASB issued changes to reporting discontinued operations and disclosure of disposals of components of an entity.  These changes require a disposal of a component to meet a higher threshold in order to be reported as a discontinued operation in an entity’s financial statements.  The threshold is defined as a strategic shift that has, or will have, a major effect on an entity’s operations and financial results such as a disposal of a major geographical area or a major line of business.  Additionally, the following two criteria have been removed from consideration of whether a component meets the requirements for discontinued operations presentation: (i) the operations and cash flows of a disposal component have been or will be eliminated from the ongoing operations of an entity as a result of the disposal transaction, and (ii) an entity will not have any significant continuing involvement in the operations of the disposal component after the disposal transaction. Furthermore, equity method investments now may qualify for discontinued operations presentation. These changes also require expanded disclosures for all disposals of components of an entity, whether or not the threshold for reporting as a discontinued operation is met, related to profit or loss information and/or asset and liability information of the component. These changes become effective for the Company on January 1, 2015. Management has determined that the adoption of these changes will not have an immediate impact on the Company’s consolidated financial statements.
	In May 2014, the FASB issued changes to the recognition of revenue for contracts with customers.  These changes created a comprehensive framework for all entities in all industries to apply in the determination of when to recognize revenue, and, therefore, supersede virtually all existing revenue recognition requirements and guidance. This framework is expected to result in less complex guidance in application while providing a consistent and comparable methodology for revenue recognition. The core principle of the 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 or services. To achieve this principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract(s), (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract(s), and (v) recognize revenue when, or as, the entity satisfies a performance obligation. These changes become effective for the Company on January 1, 2017. Management is currently evaluating the potential impact of these changes on the Company’s consolidated financial statements.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2014
Inventory [Abstract]	'
Inventory	'
	3.Inventory:
	A summary of inventory at June 30, 2014 and December 31, 2013 is as follows (in thousands):
		2014		2013
		(Unaudited)
	Case Wine	$	24,548	$	21,667
	Bulk Wine		18,730		22,280
	Packaging and bottling supplies		555		346
		$	43,833	$	44,293
	Bulk wine inventory includes cost of growing grapes not yet harvested as of June 30, 2014, all of which will be harvested as of the end of the fiscal year.

Property_And_Equipment

Property And Equipment	6 Months Ended
	Jun. 30, 2014
Property And Equipment [Abstract]	'
Property And Equipment	'
	4.Property and Equipment:
	A summary of property and equipment at June 30, 2014 and December 31, 2013 is as follows (in thousands):
		Depreciable Lives	2014		2013
		(in years)	(Unaudited)
	Land and improvements	N/A	$	39,497	$	41,580
	Buildings and improvements	20-40		44,519		44,446
	Vineyards and improvements	25-Jul		35,350		35,178
	Winery and vineyard equipment	25-Mar		24,191		24,270
	Caves	20-40		5,638		5,638
	Vineyards under development	N/A		1,784		1,338
	Construction in progress	N/A		709		311
				151,688		152,761
	Accumulated depreciation and amortization			-46,040		-43,725
			$	105,648	$	109,036
	For the six months ended June 30, 2014 and 2013, depreciation expense was $2,728,000 and $2,698,000, respectively, with $2,293,000 and $2,280,000, respectively, capitalized into inventory and $435,000 and $418,000, respectively, charged to the income statements.
	In the second quarter of 2014, the Company sold a non-strategic unplanted parcel of land in Washington for cash consideration of $4,205,000, net of $3,902,000 after expenses.  The Company recorded a pre-tax gain of $1,818,000, net of closing costs, during the second quarter of 2014.

Financial_Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2014
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 June 30, 2014 and December 31, 2013 are as follows (in thousands):
		Par Value		Amortized Cost		Gross Unrealized Gains (Losses)		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Total Fair Value Measurements
								(Level 1)		(Level 2)
	30-Jun-14
	Certificates of Deposit	$	10,000	$	10,000	$	2	$	10,002	$	-	$	10,002
	31-Dec-13
	Certificates of Deposit	$	10,500	$	10,500	$	-30	$	10,470	$	-	$	10,470
	As of June 30, 2014 and December 31, 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_And_Other_No

Intangible Assets And Other Non-Current Assets	6 Months Ended
	Jun. 30, 2014
Intangible Assets And Other Non-Current Assets [Abstract]	'
Intangible Assets And Other Non-Current Assets	'
	6.Intangible and Other Non-Current Assets:
	A summary of intangible and other non-current assets at June 30, 2014 and December 31, 2013 is as follows (in thousands):
		2014		2013
		(Unaudited)
	Brand, net of accumulated amortization of $3,174 and $2,659	$	14,326	$	14,841
	Distributor relationships, net of accumulated amortization of $573 and $480		2,027		2,120
	Customer relationships, net of accumulated amortization of $836 and $700		1,064		1,200
	Legacy permits, net of accumulated amortization of $55 and $46		195		204
	Other, net of accumulated amortization of $58 and $54		457		455
		$	18,069	$	18,820
	Amortization expense on intangible assets was $757,000 for each of the six month periods ended June 30,  2014 and 2013.  The estimated aggregate future amortization expense for the intangible assets is $757,000 for the remainder of 2014 and $1,514,000 for each of the four years after 2014.

Due_To_Leucadia_And_Its_Affili

Due To Leucadia And Its Affiliates	6 Months Ended
	Jun. 30, 2014
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 zero and $783,000 for the six months ended June 30, 2014 and 2013, respectively.
	Effective March 1, 2013, the Company entered into an administrative service agreement with Leucadia.  Pursuant to this agreement, Leucadia provided 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.
	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 amendment also provided that the administrative services agreement would terminate in full in February 2014, which it did.  Administrative services fees expense was $9,000 and $60,000 for the six month periods ended June 30, 2014 and 2013, respectively.
	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	6 Months Ended
	Jun. 30, 2014
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 intangible assets.  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 1.652% to 1.952% at June 30, 2014.  The revolving credit facility can be used to fund acquisitions, capital projects and other general corporate purposes.  No amounts have been borrowed under the facility to date.

Stockholders_Equity

Stockholderbs Equity	6 Months Ended
	Jun. 30, 2014
Stockholderbs Equity [Abstract]	'
Stockholderbs Equity	'
	9. Stockholders’ Equity:
	In March 2014, the Board of Directors of Crimson authorized a share repurchase program that provides for the repurchase of up to $2.0 million of outstanding common stock.  At June 30, 2014, no stock had been repurchased.

Revenues_And_Gross_Profit

Revenues And Gross Profit	6 Months Ended
	Jun. 30, 2014
Revenues And Gross Profit [Abstract]	'
Revenues And Gross Profit	'
	10.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 six months ended June 30, 2014 and 2013 are as follows (in thousands):
		Three months ended				Six months ended
		June 30,				June 30,
		2014		2013		2014		2013
		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
	Revenues:
	Wholesalers	$	8,654	$	9,189	$	16,778	$	16,666
	Direct to consumers		4,861		4,895		9,449		9,121
	Bulk wine and grape sales, event fees and retail sales		781		1,137		1,341		1,440
		$	14,296	$	15,221	$	27,568	$	27,227
	Gross profit:
	Wholesalers	$	4,384	$	4,225	$	8,291	$	7,360
	Direct to consumers		3,427		3,163		6,497		5,571
	Bulk wine and grape sales, event fees and retail sales		386		-276		411		-200
		$	8,197	$	7,112	$	15,199	$	12,731
	Excise taxes of $270,000 and $280,000 for the three months ended June 30, 2014 and 2013, respectively, and $528,000 and $506,000 for the six months ended June 30, 2014 and 2013, respectively, were recognized as a reduction to wine sales.

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	11.Income Taxes:
	The Company does not have any amounts in its consolidated balance sheet for unrecognized tax benefits related to uncertain tax positions at June 30, 2014 and December 31, 2013.  As discussed in the 2013 Report, the Company will not be required to reimburse Leucadia for any payments made by Leucadia for adjustments to taxable periods prior to the Distribution, nor will the Company be entitled to any refunds for adjustments to taxable periods prior to the Distribution.  The Company is responsible for any adjustments or liabilities related to its California state income tax return for all periods, and its Federal income tax return for all periods subsequent to the Distribution.  The statute of limitations with respect to California state income tax returns has expired for all years through 2008.

Subsequent_Event

Subsequent Event	6 Months Ended
	Jun. 30, 2014
Subsequent Event [Abstract]	'
Subsequent Event	'
	12.Subsequent Event:
	During the second quarter of 2014, the Company signed an operating lease with a July 1, 2014 commencement date for a corporate headquarters office in Napa, California.  Lease payments will commence in January 2015 and will continue through the lease expiration date of June 2020.  Lease payments are estimated to amount to approximately $180,000 per year.

Significant_Accounting_Policie1

Significant Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2014
Significant Accounting Policies [Abstract]	'
Critical Accounting Estimates	'
	The unaudited interim condensed 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, 2013, as filed with the Securities and Exchange Commission (the “SEC”) on Form 10-K (the “2013 Report”).  Results of operations for interim periods are not necessarily indicative of annual results of operations.  The condensed consolidated balance sheet at December 31, 2013 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.
	Net loss (gain) on the disposal of property and equipment previously reported was reclassified as a component of income from operations to conform with current year's presentation.  The reclassification has no impact on previously reported net income, cash flow or equity.
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 adopted 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.
Discontinued Operations	'
	In April 2014, the FASB issued changes to reporting discontinued operations and disclosure of disposals of components of an entity.  These changes require a disposal of a component to meet a higher threshold in order to be reported as a discontinued operation in an entity’s financial statements.  The threshold is defined as a strategic shift that has, or will have, a major effect on an entity’s operations and financial results such as a disposal of a major geographical area or a major line of business.  Additionally, the following two criteria have been removed from consideration of whether a component meets the requirements for discontinued operations presentation: (i) the operations and cash flows of a disposal component have been or will be eliminated from the ongoing operations of an entity as a result of the disposal transaction, and (ii) an entity will not have any significant continuing involvement in the operations of the disposal component after the disposal transaction. Furthermore, equity method investments now may qualify for discontinued operations presentation. These changes also require expanded disclosures for all disposals of components of an entity, whether or not the threshold for reporting as a discontinued operation is met, related to profit or loss information and/or asset and liability information of the component. These changes become effective for the Company on January 1, 2015. Management has determined that the adoption of these changes will not have an immediate impact on the Company’s consolidated financial statements.
Revenue Recognition	'
	In May 2014, the FASB issued changes to the recognition of revenue for contracts with customers.  These changes created a comprehensive framework for all entities in all industries to apply in the determination of when to recognize revenue, and, therefore, supersede virtually all existing revenue recognition requirements and guidance. This framework is expected to result in less complex guidance in application while providing a consistent and comparable methodology for revenue recognition. The core principle of the 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 or services. To achieve this principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract(s), (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract(s), and (v) recognize revenue when, or as, the entity satisfies a performance obligation. These changes become effective for the Company on January 1, 2017. Management is currently evaluating the potential impact of these changes on the Company’s consolidated financial statements.

Inventory_Tables

Inventory (Tables)	6 Months Ended
	Jun. 30, 2014
Inventory [Abstract]	'
Summary Of Inventory	'
		2014		2013
		(Unaudited)
	Case Wine	$	24,548	$	21,667
	Bulk Wine		18,730		22,280
	Packaging and bottling supplies		555		346
		$	43,833	$	44,293

Property_And_Equipment_Tables

Property And Equipment (Tables)	6 Months Ended
	Jun. 30, 2014
Property And Equipment [Abstract]	'
Summary Of Property And Equipment	'
		Depreciable Lives	2014		2013
		(in years)	(Unaudited)
	Land and improvements	N/A	$	39,497	$	41,580
	Buildings and improvements	20-40		44,519		44,446
	Vineyards and improvements	25-Jul		35,350		35,178
	Winery and vineyard equipment	25-Mar		24,191		24,270
	Caves	20-40		5,638		5,638
	Vineyards under development	N/A		1,784		1,338
	Construction in progress	N/A		709		311
				151,688		152,761
	Accumulated depreciation and amortization			-46,040		-43,725
			$	105,648	$	109,036

Financial_Instruments_Tables

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Financial Instruments [Abstract]	'
Schedule Of Available For Sale Securities	'
		Par Value		Amortized Cost		Gross Unrealized Gains (Losses)		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Total Fair Value Measurements
								(Level 1)		(Level 2)
	30-Jun-14
	Certificates of Deposit	$	10,000	$	10,000	$	2	$	10,002	$	-	$	10,002
	31-Dec-13
	Certificates of Deposit	$	10,500	$	10,500	$	-30	$	10,470	$	-	$	10,470

Intangible_Assets_And_Other_No1

Intangible Assets And Other Non-Current Assets (Tables)	6 Months Ended
	Jun. 30, 2014
Intangible Assets And Other Non-Current Assets [Abstract]	'
Summary Of Intangible Assets	'
		2014		2013
		(Unaudited)
	Brand, net of accumulated amortization of $3,174 and $2,659	$	14,326	$	14,841
	Distributor relationships, net of accumulated amortization of $573 and $480		2,027		2,120
	Customer relationships, net of accumulated amortization of $836 and $700		1,064		1,200
	Legacy permits, net of accumulated amortization of $55 and $46		195		204
	Other, net of accumulated amortization of $58 and $54		457		455
		$	18,069	$	18,820

Revenues_And_Gross_Profit_Tabl

Revenues And Gross Profit (Tables)	6 Months Ended
	Jun. 30, 2014
Revenues And Gross Profit [Abstract]	'
Summary Of Revenues And Gross Profit	'
		Three months ended				Six months ended
		June 30,				June 30,
		2014		2013		2014		2013
		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
	Revenues:
	Wholesalers	$	8,654	$	9,189	$	16,778	$	16,666
	Direct to consumers		4,861		4,895		9,449		9,121
	Bulk wine and grape sales, event fees and retail sales		781		1,137		1,341		1,440
		$	14,296	$	15,221	$	27,568	$	27,227
	Gross profit:
	Wholesalers	$	4,384	$	4,225	$	8,291	$	7,360
	Direct to consumers		3,427		3,163		6,497		5,571
	Bulk wine and grape sales, event fees and retail sales		386		-276		411		-200
		$	8,197	$	7,112	$	15,199	$	12,731

Explanatory_Note_Details

Explanatory Note (Details)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Explanatory Note [Abstract]	'	'
Number of shares exchanged per one share issued	10	'
Shares outstanding	24,458,368	24,458,368

Inventory_Details

Inventory (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Inventory	$43,833	$44,293
Case Wine [Member]	'	'
Inventory [Line Items]	'	'
Inventory	24,548	21,667
Bulk Wine [Member]	'	'
Inventory [Line Items]	'	'
Inventory	18,730	22,280
Packaging And Bottling Supplies [Member]	'	'
Inventory [Line Items]	'	'
Inventory	$555	$346

Property_And_Equipment_Narrati

Property And Equipment (Narrative) (Details) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013
Property, Plant and Equipment [Line Items]	'	'	'
Depreciation expense	'	$2,728,000	$2,698,000
Depreciation capitalized into inventory	'	2,293,000	2,280,000
Depreciation charged to Statement of Operations	'	435,000	418,000
Proceeds from sale of non-strategic vineyard	4,205,000	'	'
Proceeds from sale of non-strategic vineyard, net	3,902,000	'	'
Scenario, Forecast [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Pre-tax gain on sale of vineyard	$1,818,000	'	'

Property_And_Equipment_Summary

Property And Equipment (Summary Of Property And Equipment) (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	151,688	152,761
Accumulated depreciation and amortization	-46,040	-43,725
Property and equipment, net	105,648	109,036
Land And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	39,497	41,580
Buildings And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	44,519	44,446
Vineyards And Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	35,350	35,178
Winery And Vineyard Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	24,191	24,270
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	1,784	1,338
Construction In Progress [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property and equipment, gross	709	311
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 $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014
In Thousands, unless otherwise specified	Nonrecurring Basis [Member]	Nonrecurring Basis [Member]	Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Investment maturity period	'	'	'3 years
Assets measured at fair value	$0	$0	'
Liabilities measured at fair value	$0	$0	'

Financial_Instruments_Schedule

Financial Instruments (Schedule Of Available For Sale Securities) (Details) (Certificates Of Deposit [Member], USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'
Par Value	$10,000	$10,500
Amortized Cost	10,000	10,500
Gross Unrealized Gains (Losses)	2	-30
Fair Value Measurements	10,002	10,470
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair Value Measurements	$10,002	$10,470

Intangible_Assets_And_Other_No2

Intangible Assets And Other Non-Current Assets (Narrative) (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Intangible Assets And Other Non-Current Assets [Abstract]	'	'
Amortization expense on intangible assets	$757,000	$757,000
Future amortization expense, remainder of 2014	757,000	'
Future amortization expense, 2015	1,514,000	'
Future amortization expense, 2016	1,514,000	'
Future amortization expense, 2017	1,514,000	'
Future amortization expense, 2018	$1,514,000	'

Intangible_Assets_And_Other_No3

Intangible Assets And Other Non-Current Assets (Summary Of Intangible Assets) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	$18,069	$18,820
Brand [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	14,326	14,841
Accumulated amortization	3,174	2,659
Distribution Relationships [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	2,027	2,120
Accumulated amortization	573	480
Customer Relationships [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	1,064	1,200
Accumulated amortization	836	700
Legacy Permits [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	195	204
Accumulated amortization	55	46
Other [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Intangible assets	457	455
Accumulated amortization	$58	$54

Due_To_Leucadia_And_Its_Affili1

Due To Leucadia And Its Affiliates (Details) (USD $)	1 Months Ended		3 Months Ended	5 Months Ended	6 Months Ended
	Aug. 31, 2013	Mar. 31, 2013	Jun. 30, 2013	Jul. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Feb. 25, 2013
Due To Leucadia And Its Affiliates [Abstract]	'	'	'	'	'	'	'
Leucadia debt connected with acquisition	'	'	'	'	'	'	$151,043,000
Administrative service fees paid to Leucadia National Corporation	'	'	45,000	'	9,000	60,000	'
Monthly administrative services fees to Leucadia National Corporation	4,500	'	'	15,000	'	'	'
Interest expense related to Leucadia and its affiliates	'	'	'	'	0	783,000	'
Capital contribution by Leucadia National Corporation	'	$14,175,000	'	'	'	$14,175,000	'

Debt_Details

Debt (Details) (USD $)	6 Months Ended		1 Months Ended		6 Months Ended
	Jun. 30, 2014	Mar. 31, 2013	Mar. 31, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2014
			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	1.65%	'	'	'	'	'
Higher interest rate if there were outstanding amounts	1.95%	'	'	'	'	'
Amounts borrowed	$0	'	'	'	'	'

Stockholders_Equity_Details

Stockholderbs Equity (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Millions, unless otherwise specified
Stockholderbs Equity [Abstract]	'	'
Share repurchase program amount authorized	'	$2
Shares repurchased	0	'

Revenues_And_Gross_Profit_Deta

Revenues And Gross Profit (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues And Gross Profit [Line Items]	'	'	'	'
Revenues	$14,296,000	$15,221,000	$27,568,000	$27,227,000
Gross profit	8,197,000	7,112,000	15,199,000	12,731,000
Excise taxes	270,000	280,000	528,000	506,000
Wholesalers [Member]	'	'	'	'
Revenues And Gross Profit [Line Items]	'	'	'	'
Revenues	8,654,000	9,189,000	16,778,000	16,666,000
Gross profit	4,384,000	4,225,000	8,291,000	7,360,000
Direct to Consumers [Member]	'	'	'	'
Revenues And Gross Profit [Line Items]	'	'	'	'
Revenues	4,861,000	4,895,000	9,449,000	9,121,000
Gross profit	3,427,000	3,163,000	6,497,000	5,571,000
Bulk Wine And Grape Sales, Event Fees And Retail Sales [Member]	'	'	'	'
Revenues And Gross Profit [Line Items]	'	'	'	'
Revenues	781,000	1,137,000	1,341,000	1,440,000
Gross profit	$386,000	($276,000)	$411,000	($200,000)

Subsequent_Event_Details

Subsequent Event (Details) (Subsequent Event [Member], USD $)	0 Months Ended
	Jul. 01, 2014
Subsequent Event [Member]	'
Subsequent Event [Line Items]	'
Lease payments per year	$180,000