Crimson Wine (CWGL) 10-Q 8 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	7-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
Entity Registrant Name	Crimson Wine Group, Ltd
Entity Central Index Key	1562151
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		24,458,368

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$13,399	$13,274
Investments available for sale	15,522	15,711
Accounts receivable, net	4,732	5,784
Inventory	48,953	49,593
Other current assets	1,348	894
Deferred tax asset, current	2,856	3,184
Total current assets	86,810	88,440
Property and equipment, net	108,644	108,707
Goodwill	1,053	1,053
Intangible assets and other non-current assets	16,914	17,300
Total assets	213,421	215,500
Current liabilities:
Accounts payable	1,297	4,342
Accrued compensation related expenses	1,426	1,979
Other accrued expenses	1,053	1,266
Customer deposits	541	403
Total current liabilities	4,317	7,990
Deferred rent, non-current	115	123
Deferred tax liability, non-current	4,734	4,267
Total non-current liabilities	4,849	4,390
Total liabilities	9,166	12,380
EQUITY
Common shares, par value $0.01 per share, authorized 150,000,000 shares; 24,458,368 issued and outstanding	245	245
Additional paid-in capital	277,520	277,520
Accumulated other comprehensive income (loss)	22	-39
Accumulated deficit	-73,532	-74,606
Total equity	204,255	203,120
Total liabilities and equity	$213,421	$215,500

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
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
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Condensed Consolidated Statements Of Operations [Abstract]
Net sales	$13,717	$13,272
Cost of sales	6,036	6,270
Gross profit	7,681	7,002
Operating expenses:
Sales and marketing	3,175	3,048
General and administrative	2,573	2,207
Administrative service fees paid to Leucadia National Corporation	0	9
Total operating expenses	5,748	5,264
Net (gain)/ loss on property and equipment	-17	20
Income from operations	1,950	1,718
Other income (expense):
Interest expense	-38	-38
Other income (expense), net	13	-16
Total other income (expense), net	-25	-54
Income before income taxes	1,925	1,664
Income tax provision	851	720
Net income	$1,074	$944
Basic and fully diluted weighted-average shares outstanding	24,458	24,458
Basic and fully diluted earnings per share	$0.04	$0.04

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income	$1,074	$944
Other comprehensive income:
Net unrealized holding gains on investments arising during the period, net of tax	61	25
Comprehensive income	$1,135	$969

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net cash flows from operating activities:
Net income	$1,074	$944
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization of property and equipment	1,453	1,363
Amortization of intangible assets	379	379
Loss on write-down of inventory	12
Provision for doubtful accounts	36
Net (gain)/loss related to disposals of property and equipment	-17	20
Deferred rent	-3
Provision for deferred income taxes	795	670
Net change in:
Accounts receivable	1,016	781
Inventory	628	1,165
Other current assets	-454	74
Other non-current assets	7	4
Accounts payable and expense accruals	-4,219	-3,977
Customer deposits	138	209
Income taxes payable	403	-41
Net cash provided by operating activities	1,248	1,591
Net cash flows from investing activities:
Purchase of investments available for sale	-250	-750
Redemptions of investments available for sale	500
Acquisition of property and equipment	-1,396	-493
Proceeds from disposals of property and equipment	23	5
Net cash used for investing activities	-1,123	-1,238
Net increase in cash and cash equivalents	125	353
Cash and cash equivalents at January 1	13,274	13,269
Cash and cash equivalents at March 31	13,399	13,622
Supplemental disclosure of cash flow information:
Interest		38
Income taxes		91
Non-cash investing activity:
Unrealized holding gains on investments	61	25
Capital Expenditures Incurred but Not yet Paid	$175	$14

Background_And_Basis_Of_Presen

Background And Basis Of Presentation	3 Months Ended
	Mar. 31, 2015
Background And Basis Of Presentation [Abstract]
Background And Basis Of Presentation	1.Background and Basis of Presentation
	Background
	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.
	Crimson qualifies as an “emerging growth company” as defined in 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 securities pursuant to an effective registration statement under the Securities Act of 1933; (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 Exchange Act Rule 12b-2 (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.
	Financial Statement Preparation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. 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, 2014, as filed with the SEC on Form 10-K (the “2014 Report”).  Results of operations for interim periods are not necessarily indicative of annual results of operations.  The condensed consolidated balance sheet at December 31, 2014 was extracted from the audited annual financial statements and does not include all disclosures required by GAAP for annual financial statements.
	Reclassifications
	Net (gain)/loss on 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.
	Recent Accounting Pronouncements
	In April 2014, the FASB issued guidance that changes the criteria for reporting discontinued operations. To qualify as a discontinued operation under the amended guidance, a component or group of components of an entity that has been disposed of or is classified as held for sale must represent a strategic shift that has or will have a major effect on the entity's operations and financial results. These changes became effective for the Company on January 1, 2015. The adoption of this guidance did not have a material impact on our consolidated financial statements.
	In May 2014, the FASB issued guidance outlining a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that supersedes most current revenue recognition guidance. This guidance requires an entity to recognize revenue when it transfers 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. Additionally, this guidance expands related disclosure requirements.
	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.
	In April 2015, the Financial Accounting Standards Board ("FASB") issued guidance on the financial statement presentation of debt issuance costs. This guidance requires debt issuance costs to be presented in the balance sheet as a reduction of the related debt liability rather than an asset. The guidance will become effective for annual reporting periods beginning after December 15, 2015, and early adoption is permitted.  Management is currently evaluating the potential impact of these changes on the Company’s consolidated financial statements.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2015
Inventory [Abstract]
Inventory	2.Inventory:
	A summary of inventory at March 31, 2015 and December 31, 2014 is as follows (in thousands):
			2015		2014
			(Unaudited)
	Case wine	$	23,681	$	25,613
	In-process wine		24,899		23,630
	Packaging and bottling supplies		373		350
	Total inventory	$	48,953	$	49,593

Property_And_Equipment

Property And Equipment	3 Months Ended
	Mar. 31, 2015
Property And Equipment [Abstract]
Property And Equipment	3.Property and Equipment:
	A summary of property and equipment at March 31, 2015 and December 31, 2014 is as follows (in thousands):
			Depreciable Lives		2015		2014
		(in years)		(Unaudited)
	Land and improvements	N/A		$	41,573	$	41,573
	Buildings and improvements	20-40			45,282		45,259
	Vineyards and improvements	25-Jul			36,453		35,898
	Winery and vineyard equipment	25-Mar			25,390		25,437
	Caves	20-40			5,638		5,638
	Vineyards under development	N/A			1,448		1,894
	Construction in progress	N/A			1,814		633
					157,598		156,332
	Accumulated depreciation and amortization				-48,954		-47,625
				$	108,644	$	108,707
	For the three months ended March 31, 2015 and 2014, depreciation expense was $1,453,000 and $1,363,000, respectively, with $1,185,000 and $1,147,000, respectively, capitalized into inventory and $268,000 and $216,000, respectively, charged to the consolidated income statements.

Financial_Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2015
Financial Instruments [Abstract]
Financial Instruments	4.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 include certificates of deposit that 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 March 31, 2015 and December 31, 2014 are as follows (in thousands):
			Par Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Significant Other Observable Inputs		Total Fair Value Measurements
											(Level 2)
	31-Mar-15
	Certificates of Deposit	$	15,500	$	15,500	$	24	$	-2	$	15,522	$	15,522
	31-Dec-14
	Certificates of Deposit	$	15,750	$	15,750	$	7	$	-46	$	15,711	$	15,711
	As of March 31, 2015 and December 31, 2014, 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	3 Months Ended
	Mar. 31, 2015
Intangible Assets And Other Non-Current Assets [Abstract]
Intangible Assets And Other Non-Current Assets	5.Intangible and Other Non-Current Assets:
	A summary of intangible and other non-current assets at March 31, 2015 and December 31, 2014 is as follows (in thousands):
			Amortizable
			Lives	2015		2014
			(in years)	(Unaudited)
	Brand, net of accumulated amortization of $3,946 and $3,688	17	$	13,554	$	13,812
	Distributor relationships, net of accumulated amortization of $712 and $666	14		1,888		1,934
	Customer relationships, net of accumulated amortization of $1,040 and $971	7		860		929
	Legacy permits, net of accumulated amortization of $68 and $64	14		182		186
	Other, net of accumulated amortization of $66 and $64	15-20		430		439
			$	16,914	$	17,300
	Amortization expense on intangible assets was $379,000 for each of the three month periods ended March 31, 2015 and 2014.  The estimated aggregate future amortization expense for the intangible assets is $1,136,000 for the remainder of 2015, $1,514,000 for each of 2016 and 2017,  $1,359,000 for 2018, and $1,243,000 for 2019.

Due_To_Leucadia_And_Its_Affili

Due To Leucadia And Its Affiliates	3 Months Ended
	Mar. 31, 2015
Due To Leucadia And Its Affiliates [Abstract]
Due To Leucadia And Its Affiliates	6.Due to Leucadia and its Affiliates:
	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 $0 and $9,000 for the three month periods ended March 31, 2015 and 2014, respectively.

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt [Abstract]
Debt	7. 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 for a fifteen year term.  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 1.679% to 2.028% at March 31, 2015.  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

Stockholdersb Equity	3 Months Ended
	Mar. 31, 2015
Stockholdersb Equity [Abstract]
Stockholderbs Equity	8. Stockholders’ Equity:
	In March 2014, the Board of Directors of Crimson authorized a share repurchase program that provides for the repurchase of up to $2,000,000 of outstanding common stock.  At March 31, 2015, no stock had been repurchased.

Revenues_and_Gross_Profit

Revenues and Gross Profit	3 Months Ended
	Mar. 31, 2015
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 months ended March 31, 2015 and 2014 are as follows (in thousands):
			Three months ended
			March 31,
			2015		2014
			(Unaudited)		(Unaudited)
	Revenues:
	Wholesalers	$	8,373	$	8,125
	Direct to consumers		4,740		4,588
	Bulk wine and grape sales, event fees and retail sales		604		559
		$	13,717	$	13,272
	Gross profit:
	Wholesalers	$	4,103	$	3,907
	Direct to consumers		3,379		3,071
	Bulk wine and grape sales, event fees and retail sales		211		24
	Inventory write-down		-12		-
		$	7,681	$	7,002
	Excise taxes of $261,000 and $258,000 for the three months ended March 31, 2015 and 2014, respectively, were recognized as a reduction to wine sales.
	Reductions to the carrying value of inventories to estimated net realizable value are reflected in the inventory write-down category of gross profit in the table above.  The inventory write-down in the first quarter of 2015 pertains to disposed packaging material.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes	10.Income Taxes:
	The Company does not have any amounts in its consolidated balance sheet for unrecognized tax benefits related to uncertain tax positions at March 31, 2015 and December 31, 2014.  As discussed in the 2014 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 2009.

Business_Segment_Information

Business Segment Information	3 Months Ended
	Mar. 31, 2015
Business Segment Information [Abstract]
Business Segment Information	11.Business Segment Information:
	The Company has identified two operating segments, Wholesale Sales and Direct to Consumer Sales, based upon their different distribution channels, margins and selling strategies.  Wholesale Sales includes all sales through a third party where prices are given at a wholesale rate whereas Direct to Consumer Sales includes retail sales in the tasting room, remote sites and at on-site events, Wine Club sales, and other sales made directly to the consumer without the use of an intermediary.  The two segments reflect how the Company's operations are evaluated by senior management and the structure of its internal financial reporting. The Company evaluates performance based on the gross profit of the respective business segments. Selling expenses that can be directly attributable to the segment are included, however, centralized selling expenses and general and administrative expenses are not allocated between operating segments. Therefore, net income information for the respective segments is not available.  Based on the nature of the Company’s business, revenue generating assets are utilized across segments.  Therefore, discrete financial information related to segment assets and other balance sheet data is not available and that information continues to be aggregated.
	The following table outlines the sales, cost of sales, gross margin, directly attributable selling expenses, and contribution margin of the segments for the three months ended March 31, 2015 and 2014.  Sales figures are net of related excise taxes.
			Quarter Ended March 31,
			Wholesale				Direct to Consumer				Total Reportable Segments
			2015		2014		2015		2014		2015		2014
			(In thousands)
	Net sales	$	8,373	$	8,125	$	4,740	$	4,588	$	13,113	$	12,713
	Cost of sales		4,270		4,218		1,361		1,517		5,631		5,735
	Gross margin		4,103		3,907		3,379		3,071		7,482		6,978
	Direct selling expense		1,396		1,282		1,131		1,102		2,527		2,384
	Contribution margin	$	2,707	$	2,625	$	2,248	$	1,969	$	4,955	$	4,594
	% of reportable segment total net sales		63.9%		63.9%		36.1%		36.1%		100.0%		100.0%
	Below is a reconciliation of the segment contribution margins to the consolidated income from operations:
			Quarter Ended March 31,
			Total Reportable Segments				Other/Non-allocable (a)				Total
			2015		2014		2015		2014		2015		2014
			(In thousands)
	Net sales	$	13,113	$	12,713	$	604	$	559	$	13,717	$	13,272
	Cost of sales		5,631		5,735		405		535		6,036		6,270
	Gross margin		7,482		6,978		199		24		7,681		7,002
	Direct selling expense		2,527		2,384		-		-		2,527		2,384
	Centralized selling expense		-		-		648		664		648		664
	General and administrative / service fees		-		-		2,573		2,216		2,573		2,216
	Net (gain)/loss on disposals
	of property and equipment		-		-		-17		20		-17		20
	Income (loss) from operations	$	4,955	$	4,594	$	-3,005	$	-2,876	$	1,950	$	1,718
	(a) Other/Non-allocable gross margin includes bulk wine and grape sales, event fees and retail sales.  Other/Non-allocable expenses include centralized corporate expenses not specific to an identified reporting segment.

Background_And_Basis_Of_Presen1

Background And Basis Of Presentation (Policy)	3 Months Ended
	Mar. 31, 2015
Background And Basis Of Presentation [Abstract]
Financial Statement Preparation	Financial Statement Preparation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. 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, 2014, as filed with the SEC on Form 10-K (the “2014 Report”).  Results of operations for interim periods are not necessarily indicative of annual results of operations.  The condensed consolidated balance sheet at December 31, 2014 was extracted from the audited annual financial statements and does not include all disclosures required by GAAP for annual financial statements.
Reclassifications	Reclassifications
	Net (gain)/loss on 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In April 2014, the FASB issued guidance that changes the criteria for reporting discontinued operations. To qualify as a discontinued operation under the amended guidance, a component or group of components of an entity that has been disposed of or is classified as held for sale must represent a strategic shift that has or will have a major effect on the entity's operations and financial results. These changes became effective for the Company on January 1, 2015. The adoption of this guidance did not have a material impact on our consolidated financial statements.
	In May 2014, the FASB issued guidance outlining a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that supersedes most current revenue recognition guidance. This guidance requires an entity to recognize revenue when it transfers 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. Additionally, this guidance expands related disclosure requirements.
	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.
	In April 2015, the Financial Accounting Standards Board ("FASB") issued guidance on the financial statement presentation of debt issuance costs. This guidance requires debt issuance costs to be presented in the balance sheet as a reduction of the related debt liability rather than an asset. The guidance will become effective for annual reporting periods beginning after December 15, 2015, and early adoption is permitted.  Management is currently evaluating the potential impact of these changes on the Company’s consolidated financial statements.

Inventory_Tables

Inventory (Tables)	3 Months Ended
	Mar. 31, 2015
Inventory [Abstract]
Summary Of Inventory
			2015		2014
			(Unaudited)
	Case wine	$	23,681	$	25,613
	In-process wine		24,899		23,630
	Packaging and bottling supplies		373		350
	Total inventory	$	48,953	$	49,593

Property_And_Equipment_Tables

Property And Equipment (Tables)	3 Months Ended
	Mar. 31, 2015
Property And Equipment [Abstract]
Summary Of Property And Equipment
			Depreciable Lives		2015		2014
		(in years)		(Unaudited)
	Land and improvements	N/A		$	41,573	$	41,573
	Buildings and improvements	20-40			45,282		45,259
	Vineyards and improvements	25-Jul			36,453		35,898
	Winery and vineyard equipment	25-Mar			25,390		25,437
	Caves	20-40			5,638		5,638
	Vineyards under development	N/A			1,448		1,894
	Construction in progress	N/A			1,814		633
					157,598		156,332
	Accumulated depreciation and amortization				-48,954		-47,625
				$	108,644	$	108,707

Financial_Instruments_Tables

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Financial Instruments [Abstract]
Schedule Of Available For Sale Securities
			Par Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Significant Other Observable Inputs		Total Fair Value Measurements
											(Level 2)
	31-Mar-15
	Certificates of Deposit	$	15,500	$	15,500	$	24	$	-2	$	15,522	$	15,522
	31-Dec-14
	Certificates of Deposit	$	15,750	$	15,750	$	7	$	-46	$	15,711	$	15,711

Recovered_Sheet1

Intangible Assets and Other Non-Current Assets (Tables)	3 Months Ended
	Mar. 31, 2015
Intangible Assets And Other Non-Current Assets [Abstract]
Summary Of Intangible Assets
			Amortizable
			Lives	2015		2014
			(in years)	(Unaudited)
	Brand, net of accumulated amortization of $3,946 and $3,688	17	$	13,554	$	13,812
	Distributor relationships, net of accumulated amortization of $712 and $666	14		1,888		1,934
	Customer relationships, net of accumulated amortization of $1,040 and $971	7		860		929
	Legacy permits, net of accumulated amortization of $68 and $64	14		182		186
	Other, net of accumulated amortization of $66 and $64	15-20		430		439
			$	16,914	$	17,300

Revenues_and_Gross_Profit_Tabl

Revenues and Gross Profit (Tables)	3 Months Ended
	Mar. 31, 2015
Revenues And Gross Profit [Abstract]
Summary Of Revenues And Gross Profit
			Three months ended
			March 31,
			2015		2014
			(Unaudited)		(Unaudited)
	Revenues:
	Wholesalers	$	8,373	$	8,125
	Direct to consumers		4,740		4,588
	Bulk wine and grape sales, event fees and retail sales		604		559
		$	13,717	$	13,272
	Gross profit:
	Wholesalers	$	4,103	$	3,907
	Direct to consumers		3,379		3,071
	Bulk wine and grape sales, event fees and retail sales		211		24
	Inventory write-down		-12		-
		$	7,681	$	7,002

Business_Segment_Information_T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Business Segment Information [Abstract]
Schedule Of Segment Reporting
			Quarter Ended March 31,
			Wholesale				Direct to Consumer				Total Reportable Segments
			2015		2014		2015		2014		2015		2014
			(In thousands)
	Net sales	$	8,373	$	8,125	$	4,740	$	4,588	$	13,113	$	12,713
	Cost of sales		4,270		4,218		1,361		1,517		5,631		5,735
	Gross margin		4,103		3,907		3,379		3,071		7,482		6,978
	Direct selling expense		1,396		1,282		1,131		1,102		2,527		2,384
	Contribution margin	$	2,707	$	2,625	$	2,248	$	1,969	$	4,955	$	4,594
	% of reportable segment total net sales		63.9%		63.9%		36.1%		36.1%		100.0%		100.0%
Schedule Of Reconciliation Of Segment Contributions
			Quarter Ended March 31,
			Total Reportable Segments				Other/Non-allocable (a)				Total
			2015		2014		2015		2014		2015		2014
			(In thousands)
	Net sales	$	13,113	$	12,713	$	604	$	559	$	13,717	$	13,272
	Cost of sales		5,631		5,735		405		535		6,036		6,270
	Gross margin		7,482		6,978		199		24		7,681		7,002
	Direct selling expense		2,527		2,384		-		-		2,527		2,384
	Centralized selling expense		-		-		648		664		648		664
	General and administrative / service fees		-		-		2,573		2,216		2,573		2,216
	Net (gain)/loss on disposals
	of property and equipment		-		-		-17		20		-17		20
	Income (loss) from operations	$	4,955	$	4,594	$	-3,005	$	-2,876	$	1,950	$	1,718
	(a) Other/Non-allocable gross margin includes bulk wine and grape sales, event fees and retail sales.  Other/Non-allocable expenses include centralized corporate expenses not specific to an identified reporting segment.

Background_And_Basis_Of_Presen2

Background And Basis Of Presentation (Details)	Mar. 31, 2015	Dec. 31, 2014
Background And Basis Of Presentation [Abstract]
Shares outstanding	24,458,368	24,458,368

Inventory_Details

Inventory (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]
Inventory	$48,953	$49,593
Case Wine [Member]
Inventory [Line Items]
Inventory	23,681	25,613
In-process Wine [Member]
Inventory [Line Items]
Inventory	24,899	23,630
Packaging And Bottling Supplies [Member]
Inventory [Line Items]
Inventory	$373	$350

Property_And_Equipment_Narrati

Property And Equipment (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Property And Equipment [Abstract]
Depreciation expense	$1,453	$1,363
Depreciation capitalized into inventory	1,185	1,147
Depreciation charged to Statement of Operations	$268	$216

Property_And_Equipment_Summary

Property And Equipment (Summary Of Property And Equipment) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	157,598	156,332
Accumulated depreciation and amortization	-48,954	-47,625
Property and equipment, net	108,644	108,707
Land And Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	41,573	41,573
Buildings And Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	45,282	45,259
Vineyards And Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	36,453	35,898
Winery And Vineyard Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	25,390	25,437
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	1,448	1,894
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,814	633
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 $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Nonrecurring Basis [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	$0
Liabilities measured at fair value	0	$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 $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Par Value	$15,500	$15,750
Amortized Cost	15,500	15,750
Gross Unrealized Gains	24	7
Gross Unrealized Losses	-2	-46
Fair Value Measurements	15,522	15,711
Significant Other Observable Inputs (Level 2) [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value Measurements	$15,522	$15,711

Intangible_Assets_and_Other_No1

Intangible Assets and Other Non-Current Assets (Narrative) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Intangible Assets And Other Non-Current Assets [Abstract]
Amortization expense on intangible assets	$379	$379
Future amortization expense, remainder of 2015	1,136
Future amortization expense, 2016	1,514
Future amortization expense, 2017	1,514
Future amortization expense, 2018	1,359
Future amortization expense, 2019	$1,243

Intangible_Assets_and_Other_No2

Intangible Assets and Other Non-Current Assets (Summary Of Intangible Assets) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Intangible assets	$16,914	$17,300
Brand [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	17 years
Intangible assets	13,554	13,812
Accumulated amortization	3,946	3,688
Distribution Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	14 years
Intangible assets	1,888	1,934
Accumulated amortization	712	666
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	7 years
Intangible assets	860	929
Accumulated amortization	1,040	971
Legacy Permits [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	14 years
Intangible assets	182	186
Accumulated amortization	68	64
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	430	439
Accumulated amortization	$66	$64
Other [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	15 years
Other [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable Lives	20 years

Due_To_Leucadia_And_Its_Affili1

Due To Leucadia And Its Affiliates (Details) (USD $)	1 Months Ended	3 Months Ended		5 Months Ended
	Aug. 31, 2013	Mar. 31, 2015	Mar. 31, 2014	Jul. 31, 2013
Due To Leucadia And Its Affiliates [Abstract]
Monthly administrative services fees to Leucadia National Corporation	$4,500			$15,000
Administrative service fees paid to Leucadia National Corporation		$0	$9,000

Debt_Details

Debt (Details) (USD $)	3 Months Ended	1 Months Ended
	Mar. 31, 2015	Mar. 31, 2013
Line of Credit Facility [Line Items]
Credit facility borrowing capacity		$60,000,000
Lower interest rate if there were outstanding amounts	1.68%
Higher interest rate if there were outstanding amounts	2.03%
Amounts borrowed under revolving credit facility	0
Revolving Credit Facility A [Member]
Line of Credit Facility [Line Items]
Credit facility borrowing capacity		10,000,000
Credit facility term		5 years
Revolving Credit Facility B [Member]
Line of Credit Facility [Line Items]
Credit facility borrowing capacity		$50,000,000
Credit facility term		15 years
Minimum [Member]
Line of Credit Facility [Line Items]
Commitment fees percentage	0.25%
Maximum [Member]
Line of Credit Facility [Line Items]
Commitment fees percentage	0.38%

Stockholders_Equity_Details

Stockholdersb Equity (Details) (USD $)	Mar. 31, 2015	Mar. 31, 2014
In Millions, unless otherwise specified
Stockholdersb 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
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues And Gross Profit [Line Items]
Revenues	$13,717	$13,272
Inventory write-down	-12
Gross profit	7,681	7,002
Excise taxes	261	258
Wholesalers [Member]
Revenues And Gross Profit [Line Items]
Revenues	8,373	8,125
Gross profit	4,103	3,907
Direct to Consumers [Member]
Revenues And Gross Profit [Line Items]
Revenues	4,740	4,588
Gross profit	3,379	3,071
Bulk Wine And Grape Sales, Event Fees And Retail Sales [Member]
Revenues And Gross Profit [Line Items]
Revenues	604	559
Gross profit	$211	$24

Business_Segment_Information_N

Business Segment Information (Narrative) (Details)	0 Months Ended
	Mar. 31, 2015
	segment
Business Segment Information [Abstract]
Number of Operating Segments	2

Business_Segment_Information_S

Business Segment Information (Schedule Of Segment Reporting) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net sales	$13,717	$13,272
Cost of sales	6,036	6,270
Gross Margin	7,681	7,002
Direct Selling Expense	2,527	2,384
Wholesale [Member]
Net sales	8,373	8,125
Cost of sales	4,270	4,218
Gross Margin	4,103	3,907
Direct Selling Expense	1,396	1,282
Contribution Margin	2,707	2,625
Percentage of Reportable Segment Total net sales	63.90%	63.90%
Direct to Consumer [Member]
Net sales	4,740	4,588
Cost of sales	1,361	1,517
Gross Margin	3,379	3,071
Direct Selling Expense	1,131	1,102
Contribution Margin	2,248	1,969
Percentage of Reportable Segment Total net sales	36.10%	36.10%
Reportable Segment [Member]
Net sales	13,113	12,713
Cost of sales	5,631	5,735
Gross Margin	7,482	6,978
Direct Selling Expense	2,527	2,384
Contribution Margin	$4,955	$4,594
Percentage of Reportable Segment Total net sales	100.00%	100.00%

Business_Segment_Information_S1

Business Segment Information (Schedule Of Reconciliation Of Segment Contributions) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net sales	$13,717	$13,272
Cost of sales	6,036	6,270
Gross Margin	7,681	7,002
Direct Selling Expense	2,527	2,384
Centralized Selling Expense	648	664
G&A expense/administrative service	2,573	2,216
Net (gain)/ loss on property and equipment	-17	20
Income from operations	1,950	1,718
Other/Non-allocable [Member]
Net sales	604	559
Cost of sales	405	535
Gross Margin	199	24
Centralized Selling Expense	648	664
G&A expense/administrative service	2,573	2,216
Net (gain)/ loss on property and equipment	-17	20
Income from operations	-3,005	-2,876
Reportable Segment [Member]
Net sales	13,113	12,713
Cost of sales	5,631	5,735
Gross Margin	7,482	6,978
Direct Selling Expense	2,527	2,384
Income from operations	$4,955	$4,594