Alto Ingredients (ALTO) 10-Q 9 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Document Information Line Items
Entity Registrant Name	ALTO INGREDIENTS, INC.
Trading Symbol	ALTO
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		74,075,166
Amendment Flag	false
Entity Central Index Key	0000778164
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-21467
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-2170618
Entity Address, Address Line One	1300 South Second Street
Entity Address, City or Town	Pekin
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61554
City Area Code	(916)
Local Phone Number	403-2123
Title of 12(b) Security	Common Stock, $0.001 par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	[1]
Current Assets:
Cash and cash equivalents	$ 36,184	$ 50,612
Restricted cash	23,799	11,513
Accounts receivable (net of allowance for doubtful accounts of $409 and $378, respectively)	80,611	86,888
Inventories	58,491	54,373
Derivative instruments	19,498	15,839
Notes receivable, current	12,385	3,125
Other current assets	10,245	7,176
Total current assets	241,213	229,526
Property and equipment, net	220,996	222,550
Other Assets:
Right of use operating lease assets, net	15,099	13,413
Notes receivable, noncurrent		11,641
Intangible assets, net	9,460	2,678
Goodwill	5,958
Other assets	5,142	5,145
Total other assets	35,659	32,877
Total Assets	497,868	484,953
Current Liabilities:
Accounts payable – trade	21,750	23,251
Accrued liabilities	19,479	21,307
Current portion – operating leases	4,297	3,909
Derivative instruments	27,487	13,582
Other current liabilities	7,168	7,553
Total current liabilities	80,181	69,602
Long-term debt	53,681	50,361
Operating leases, net of current portion	10,705	9,382
Other liabilities	10,336	10,394
Total Liabilities	154,903	139,739
Commitments and Contingencies (Note 7)
Alto Ingredients, Inc. Stockholders’ Equity:
Preferred stock, $0.001 par value; 10,000 shares authorized; Series A: 1,684 shares authorized; no shares issued and outstanding as of March 31, 2022 and December 31, 2021; Series B: 1,581 shares authorized; 927 shares issued and outstanding as of March 31, 2022 and December 31, 2021; liquidation preference of $18,075 as of March 31, 2022	1	1
Common stock, $0.001 par value; 300,000 shares authorized; 74,411 and 72,778 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	74	73
Non-voting common stock, $0.001 par value; 3,553 shares authorized; 1 share issued and outstanding as of March 31, 2022 and December 31, 2021
Additional paid-in capital	1,037,869	1,037,205
Accumulated other comprehensive loss	(284)	(284)
Accumulated deficit	(694,695)	(691,781)
Total Stockholders’ Equity	342,965	345,214
Total Liabilities and Stockholders’ Equity	$ 497,868	$ 484,953
[1]	Amounts derived from the audited financial statements for the year ended December 31, 2021.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Net of allowance for doubtful accounts (in Dollars)	$ 409	$ 378
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000	10,000
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000	300,000
Common stock, shares issued	74,411	72,778
Common stock, shares outstanding	74,411	72,778
Preferred Stock Series A
Preferred stock, shares authorized	1,684	1,684
Preferred stock, shares issued
Preferred stock, shares outstanding
Preferred Stock Series B
Preferred stock, shares authorized	1,581	1,581
Preferred stock, shares issued	927	927
Preferred stock, shares outstanding	927	927
Preferred stock, liquidation preference (in Dollars)	$ 18,075
Non-Voting Common Stock
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	3,553	3,553
Common stock, shares issued	1	1
Common stock, shares outstanding	1	1

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net sales	$ 308,118	$ 218,734
Cost of goods sold	303,345	204,897
Gross profit	4,773	13,837
Selling, general and administrative expenses	7,629	7,014
Asset impairment		1,200
Income (loss) from operations	(2,856)	5,623
Interest expense, net	(200)	(1,885)
Other income, net	454	940
Income (loss) before provision for income taxes	(2,602)	4,678
Provision for income taxes
Net income (loss)	(2,602)	4,678
Preferred stock dividends	(312)	(312)
Net income (loss) available to common stockholders	$ (2,914)	$ 4,366
Net income (loss) per share, basic and diluted (in Dollars per share)	$ (0.04)	$ 0.06
Weighted-average shares outstanding, basic (in Shares)	71,390	70,351
Weighted-average shares outstanding, diluted (in Shares)	71,390	72,464

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities:
Consolidated net income (loss)	$ (2,602)	$ 4,678
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of intangibles	6,134	5,860
Asset impairment		1,200
Gains on derivative instruments	(5,316)	(10,543)
Non-cash compensation	673	804
Amortization of deferred financing fees	6	190
Bad debt expense	31	91
Changes in operating assets and liabilities, net of business acquisition:
Accounts receivable	11,775	(13,057)
Inventories	(2,773)	(17,291)
Other assets	14,119	3,309
Operating leases	(1,257)	(1,037)
Assets held-for-sale		1,241
Liabilities held-for-sale		(312)
Accounts payable and accrued liabilities	(9,726)	20,391
Net cash provided by (used in) operating activities	11,064	(4,476)
Investing Activities:
Additions to property and equipment	(2,334)	(4,411)
Purchase of Eagle Alcohol, net of cash acquired	(14,655)
Net cash used in investing activities	(16,989)	(4,411)
Financing Activities:
Net proceeds from Kinergy’s line of credit	3,314	13,042
Proceeds from principal payments on notes receivable	781
Proceeds from stock option exercises		462
Preferred stock dividends paid	(312)
Principal payments on borrowings		(8,532)
Net cash provided by financing activities	3,783	4,972
Net decrease in cash, cash equivalents and restricted cash	(2,142)	(3,915)
Cash, cash equivalents and restricted cash at beginning of period	62,125	48,187
Cash, cash equivalents and restricted cash at end of period	59,983	44,272
Reconciliation of total cash, cash equivalents and restricted cash:
Cash and cash equivalents	36,184	44,146
Restricted cash	23,799	126
Total cash, cash equivalents and restricted cash	59,983	44,272
Supplemental Information:
Interest paid	195	1,825
Income tax refunds	$ 81
Accrued preferred stock dividends		$ 312

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accum. Other Comprehensive Loss	Total
Balances at Dec. 31, 2020	$ 1	$ 72	$ 1,036,638	$ (736,598)	$ (3,878)	$ 296,235
Balances (in Shares) at Dec. 31, 2020	927	72,487
Stock-based compensation			804			804
Restricted stock issued to employees and directors, net of cancellations and tax		$ 1	(186)			(185)
Restricted stock issued to employees and directors, net of cancellations and tax (in Shares)		550
Stock option exercises			462			462
Stock option exercises (in Shares)		124
Preferred stock dividends				(312)		(312)
Net income (loss)				4,678		4,678
Balances at Mar. 31, 2021	$ 1	$ 73	1,037,718	(732,232)	(3,878)	301,682
Balances (in Shares) at Mar. 31, 2021	927	73,161
Balances at Dec. 31, 2021	$ 1	$ 73	1,037,205	(691,781)	(284)	345,214
Balances (in Shares) at Dec. 31, 2021	927	72,778
Stock-based compensation			673			673
Restricted stock issued to employees and directors, net of cancellations and tax			(9)			(9)
Restricted stock issued to employees and directors, net of cancellations and tax (in Shares)		684
Shares issued for Eagle Alcohol acquisition		$ 1				1
Shares issued for Eagle Alcohol acquisition (in Shares)		949
Preferred stock dividends				(312)		(312)
Net income (loss)				(2,602)		(2,602)
Balances at Mar. 31, 2022	$ 1	$ 74	$ 1,037,869	$ (694,695)	$ (284)	$ 342,965
Balances (in Shares) at Mar. 31, 2022	927	74,411

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	1. ORGANIZATION Organization and Business On May 14, 2021 and November 4, 2021, the Company completed the sale of its production facilities located in Madera and Stockton, California, respectively. The results of these facilities are included in the Company’s results reported for the three months ended March 31, 2021. As discussed in Note 2, on January 14, 2022, the Company acquired 100% ownership of Eagle Alcohol Company LLC, a Missouri limited liability company (“Eagle Alcohol”), which is now a wholly-owned subsidiary of Alto Ingredients, Inc. The results of Eagle Alcohol since the date of the acquisition are included in the Company’s results reported for the three months ended March 31, 2022. The Company is a leading producer and distributor of specialty alcohols and essential ingredients. The Company also produces, markets and distributes renewable fuel. The Company’s production facilities in Pekin, Illinois are located in the heart of the Corn Belt, benefit from low-cost and abundant feedstock and allow for access to many additional domestic markets. In addition, the Company’s ability to load unit trains and barges from these facilities allows for greater access to international markets. The Company’s two production facilities in Oregon and Idaho are located in close proximity to both feed and renewable fuel ethanol customers and thus enjoy unique advantages in efficiency, logistics and product pricing. The Company has a combined alcohol production capacity of 350 million gallons per year and produces, on an annualized basis, nearly 1.2 million tons of essential ingredients on a dry matter basis, such as dried yeast, corn gluten meal, corn gluten feed, and distillers grains and liquid feed used in commercial animal feed and pet foods. In addition, the Company sells alcohols acquired from other producers, and markets and distributes fuel-grade ethanol produced by third parties. The Company focuses on four key markets: Health, Home & Beauty Food & Beverage Essential Ingredients Renewable Fuels As of March 31, 2022, all of the Company’s production facilities were operating. As market conditions change, the Company may increase, decrease or idle production at one or more operating facilities or resume operations at any idled facility. Basis of Presentation – Interim Financial Statements Accounts Receivable and Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and the Company’s success in contacting and negotiating with the customer. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required. Of the accounts receivable balance, approximately $52,008,000 and $63,929,000 at March 31, 2022 and December 31, 2021, respectively, were used as collateral under Kinergy’s operating line of credit. The allowance for doubtful accounts was $409,000 and $378,000 as of March 31, 2022 and December 31, 2021, respectively. The Company recorded a bad debt expense of $31,000 and $91,000 for the three months ended March 31, 2022 and 2021, respectively. The Company does not have any off-balance sheet credit exposure related to its customers. Financial Instruments Business Combinations Estimates and Assumptions

Acquisition of Eagle Alcohol

Acquisition of Eagle Alcohol	3 Months Ended
	Mar. 31, 2022
Acquisition of Eagle Alcohol [Abstract]
ACQUISITION OF EAGLE ALCOHOL	2. ACQUISITION OF EAGLE ALCOHOL. On January 14, 2022, the Company purchased 100% of the membership interests of Eagle Alcohol. The purchase price was $14.0 million in cash plus an estimated net working capital adjustment of $1.3 million in cash. The selling members of Eagle Alcohol are eligible to receive up to an additional $14.0 million of contingent consideration, payable through a combination of $9.0 million in cash over the next three years and an aggregate of $5.0 million in the Company’s common stock on the fourth and fifth year anniversaries of the closing date, subject to the satisfaction of certain conditions, including continued employment with the Company. With respect to these payments, the Company has recognized an estimated $0.9 million for the three months ended March 31, 2022, in selling, general and administrative expenses in the accompanying consolidated statements of operations. Eagle Alcohol specializes in break bulk distribution of specialty alcohols. Eagle Alcohol purchases bulk alcohol from suppliers. Eagle Alcohol then stores, denatures, packages, and resells alcohol products in smaller sizes, including tank trucks, totes, and drums, that garner a premium to bulk alcohols. Eagle Alcohol delivers products to customers in the beverage, food, pharma, and related-process industries via its own dedicated trucking fleet and common carrier. The acquisition will provide the Company further vertical integration and access to new markets in the specialty alcohol industry. Eagle Alcohol’s unaudited results for the three months ended March 31, 2022 and 2021 generated $3.8 million and $6.8 million in net sales and $0.2 million and $0.9 million in net income, respectively. The following table presents unaudited pro forma combined financial information assuming the acquisition occurred on January 1, 2021 (dollars in thousands except per share amounts): Three Months Ended 2022 2021 Revenues – pro forma $ 308,645 $ 225,486 Net income (loss) available to common stockholders – pro forma $ (2,981 ) $ 4,508 Diluted net income (loss) per share – pro forma $ (0.04 ) $ 0.06 Diluted shares 72,339 73,413 The following preliminary allocation of the estimated purchase price assumes, with the exception of property and equipment and intangibles, carrying values approximate fair value. Estimates of uncollectible accounts receivable are not considered material due to the short-term nature and customer collection history. The preliminary estimate of working capital is under review by management and is subject to change. Based upon these assumptions, the preliminary purchase price allocation is as follows (in thousands): Cash and equivalents $ 705 Accounts receivables 5,529 Inventories 1,345 Total current assets 7,579 Property and equipment 1,066 Right of use assets 2,749 Total tangible assets $ 11,394 Current liabilities $ 6,219 Right of use liabiltiy 2,749 Total liabiltiies $ 8,968 Net tangible assets acquired $ 2,426 Customer relationships 6,556 Tradename 420 Goodwill 5,958 Total Purchase Price $ 15,360 Goodwill represents the value of the downstream integration that the operations of Eagle Alcohol will add to the Company. The Company expects the amortization of goodwill to be deductible for tax purposes. For the identifiable intangible assets, the Company has estimated 12 years for useful lives for customer relationships and 10 years for tradename. For the three months ended March 31, 2022, the Company recorded amortization of these intangibles of $108,000 and $9,000, respectively. Any changes to the initial estimates of the fair value of the acquired assets and assumed liabilities will be recorded as adjustments to those assets and liabilities and residual amounts will be allocated to goodwill if net assets acquired are less than the purchase price. The Company did not incur any material acquisition costs.

Segments

Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENTS	3. SEGMENTS. The Company reports its financial and operating performance in three segments: (1) marketing and distribution, which includes marketing and merchant trading for Company-produced alcohols and essential ingredients on an aggregated basis and third-party fuel-grade ethanol sales (2) Pekin production, which includes the production and sale of alcohols and essential ingredients produced at the Company’s Pekin, Illinois campus (“Pekin Campus”), and (3) Other production, which includes the production and sale of renewable fuel and essential ingredients produced at all of the Company’s other production facilities on an aggregated basis (“Other production”), none of which are individually so significant as to be considered a reportable segment. The following tables set forth certain financial data for the Company’s operating segments (in thousands): Three Months Ended Net Sales 2022 2021 Pekin Campus production, recorded as gross: Alcohol sales $ 116,050 $ 95,083 Essential ingredient sales 55,280 45,077 Intersegment sales 256 1,473 Total Pekin Campus sales 171,586 141,633 Marketing and distribution: Alcohol sales, gross $ 53,926 $ 57,010 Alcohol sales, net 351 452 Intersegment sales 2,996 2,244 Total marketing and distribution sales 57,273 59,706 Other production, recorded as gross: Alcohol sales $ 59,805 $ 15,969 Essential ingredient sales 18,938 5,143 Intersegment sales 12 305 Total Other production sales 78,755 21,417 Corporate and other 3,768 — Intersegment eliminations (3,264 ) (4,022 ) Net sales as reported $ 308,118 $ 218,734 Cost of goods sold: Pekin Campus $ 168,881 $ 128,864 Marketing and distribution 54,716 53,958 Other production 78,244 24,117 Corporate and other 2,872 — Intersegment eliminations (1,368 ) (2,042 ) Cost of goods sold as reported $ 303,345 $ 204,897 Gross profit (loss): Pekin Campus production $ 2,705 $ 12,769 Marketing and distribution 2,557 5,748 Other production 511 (2,700 ) Corporate and other 896 — Intersegment eliminations (1,896 ) (1,980 ) Gross profit (loss) as reported $ 4,773 $ 13,837 Income (loss) before provision for income taxes: Pekin Campus production $ 85 $ 10,012 Marketing and distribution 785 3,735 Other production (1,209 ) (5,945 ) Corporate and other (2,263 ) (3,124 ) $ (2,602 ) $ 4,678 Depreciation and amortization: Pekin Campus production $ 4,538 $ 4,345 Other production 1,456 1,498 Corporate and other 140 17 $ 6,134 $ 5,860 Interest expense: Pekin Campus production $ — $ 519 Marketing and distribution 200 202 Other production — 136 Corporate and other — 1,028 $ 200 $ 1,885 The following table sets forth the Company’s total assets by operating segment (in thousands): March 31, December 31, Total assets: Pekin Campus production $ 271,771 $ 266,197 Marketing and distribution 127,499 130,302 Other production 62,168 57,046 Corporate and other 36,430 31,408 $ 497,868 $ 484,953

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES	4. INVENTORIES. Inventories consisted primarily of bulk ethanol, specialty alcohols, corn, essential ingredients and unleaded fuel, and are valued at the lower of cost or net realizable value, with cost determined on a first-in, first-out basis. Inventory is net of a valuation adjustment of $249,000 and $0 as of March 31, 2022 and December 31, 2021, respectively. Inventory balances consisted of the following (in thousands): March 31, December 31, Finished goods $ 38,418 $ 35,509 Work in progress 7,185 6,909 Raw materials 11,770 10,837 Other 1,118 1,118 Total $ 58,491 $ 54,373

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	5. DERIVATIVES. The business and activities of the Company expose it to a variety of market risks, including risks related to changes in commodity prices. The Company monitors and manages these financial exposures as an integral part of its risk management program. This program recognizes the unpredictability of financial markets and seeks to reduce the potentially adverse effects that market volatility could have on operating results. Commodity Risk – Cash Flow Hedges Commodity Risk – Non-Designated Hedges Non Designated Derivative Instruments As of March 31, 2022 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Restricted cash $ 23,799 Commodity contracts Derivative assets $ 19,498 Derivative liabilities $ 27,487 As of December 31, 2021 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Restricted cash $ 11,513 Commodity contracts Derivative assets $ 15,839 Derivative liabilities $ 13,582 The above amounts represent the gross balances of the contracts; however, the Company does have a right of offset with each of its derivative brokers, but its intent is to close out positions individually, therefore, they are reported at gross. The classification and amounts of the Company’s recognized gains for its derivatives not designated as hedging instruments are as follows (in thousands): Realized Gains For the three months Ended March 31, Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ 15,562 $ 6,185 $ 15,562 $ 6,185 Unrealized Gains (Losses) For the three months Ended March 31, Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ (10,246 ) $ 4,358 $ (10,246 ) $ 4,358

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt [Abstract]
DEBT	6. DEBT. Long-term borrowings are summarized as follows (in thousands): March 31, December 31, Kinergy line of credit $ 53,715 $ 50,401 Less unamortized debt financing costs (34 ) (40 ) Less short-term portion — — Long-term debt $ 53,681 $ 50,361 Excess Availability

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	7. COMMITMENTS AND CONTINGENCIES. Sales Commitments Purchase Commitments Litigation – General

Pension Plans

Pension Plans	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
PENSION PLANS	8. PENSION PLANS. The Company sponsors a defined benefit pension plan (the “Retirement Plan”) and a healthcare and life insurance plan (the “Postretirement Plan”). The Retirement Plan is noncontributory, and covers only “grandfathered” unionized employees at the Company’s Pekin, Illinois facility who fulfill minimum age and service requirements. Benefits are based on a prescribed formula based upon the employee’s years of service. The Retirement Plan, which is part of a collective bargaining agreement, covers only union employees hired prior to November 1, 2010. The Company uses a December 31 measurement date for its Retirement Plan. The Company’s funding policy is to make the minimum annual contribution required by applicable regulations. As of December 31, 2021, the Retirement Plan’s accumulated projected benefit obligation was $23.8 million, with a fair value of plan assets of $20.0 million. The underfunded amount of $3.8 million is recorded on the Company’s consolidated balance sheet in other liabilities. For the three months ended March 31, 2022, the Retirement Plan’s net periodic expense (income) was ($8,000), comprised of $164,000 in interest cost and $101,000 in service cost, more than offset by $273,000 of expected return on plan assets. For the three months ended March 31, 2021, the Retirement Plan’s net periodic expense was $22,000, comprised of $151,000 in interest cost and $109,000 in service cost, partially offset by $238,000 of expected return on plan assets. The Postretirement Plan provides postretirement medical benefits and life insurance to certain “grandfathered” unionized employees. Employees hired after December 31, 2000 are not eligible to participate in the Postretirement Plan. The Postretirement Plan is contributory, with contributions required at the same rate as active employees. Benefit eligibility under the plan reduces at age 65 from a defined benefit to a defined dollar cap based upon years of service. As of December 31, 2021, the Postretirement Plan’s accumulated projected benefit obligation was $4.3 million and is recorded on the Company’s consolidated balance sheet in other liabilities. The Company’s funding policy is to make the minimum annual contribution required by applicable regulations. For the three months ended March 31, 2022, the Postretirement Plan’s net periodic expense was $32,000, comprised of $26,000 of interest cost and $6,000 of service cost. For the three months ended March 31, 2021, the Postretirement Plan’s net periodic expense was $42,000, comprised of $10,000 of interest cost, $26,000 of service cost and $6,000 of amortization expense.

Fair Value Measurements.

Fair Value Measurements.	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS.	9. FAIR VALUE MEASUREMENTS. The fair value hierarchy prioritizes the inputs used in valuation techniques into three levels, as follows: ● Level 1 – Observable inputs – unadjusted quoted prices in active markets for identical assets and liabilities; ● Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with market data; and ● Level 3 – Unobservable inputs – includes amounts derived from valuation models where one or more significant inputs are unobservable. For fair value measurements using significant unobservable inputs, a description of the inputs and the information used to develop the inputs is required along with a reconciliation of Level 3 values from the prior reporting period. Pooled separate accounts Long-Lived Assets Held-for-Sale Other Derivative Instruments The following table summarizes recurring and nonrecurring fair value measurements by level at March 31, 2022 (in thousands): Fair Value Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 19,498 $ 19,498 $ — $ — Long-lived assets held-for-sale 1,000 — — 1,000 $ 20,498 $ 19,498 $ — $ 1,000 Liabilities: Derivative financial instruments $ (27,487 ) $ (27,487 ) $ — $ — The following table summarizes recurring and nonrecurring fair value measurements by level at December 31, 2021 (in thousands): Fair Value Level 1 Level 2 Level 3 Benefit Plan Assets: Derivative financial instruments $ 15,839 $ 15,839 $ — $ — Long-lived assets held-for-sale 1,000 — — 1,000 Defined benefit plan assets(1) (pooled separate accounts): Large U.S. Equity(2) 5,612 — 5,612 — 28 % Small/Mid U.S. Equity(3) 3,684 — 3,684 — 18 % International Equity(4) 2,909 — 2,909 — 15 % Fixed Income(5) 7,782 — 7,782 — 39 % $ 36,826 $ 15,839 $ 19,987 $ 1,000 Liabilities: Derivative financial instruments $ (13,582 ) $ (13,582 ) $ — $ — (1) Included in other assets in the consolidated balance sheets. (2) This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (3) This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (4) This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (5) This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	10. EARNINGS PER SHARE. The following tables compute basic and diluted earnings per share (in thousands, except per share data): Three Months Ended March 31, 2022 Loss Shares Denominator Per-Share Amount Net loss $ (2,602 ) Less: Preferred stock dividends (312 ) Basic and diluted loss per share: Net loss available to common stockholders $ (2,914 ) 71,390 $ (0.04 ) Three Months Ended March 31, 2021 Income Numerator Shares Denominator Per-Share Amount Net income $ 4,678 Less: Preferred stock dividends (312 ) Basic income per share: Income available to common stockholders $ 4,366 70,351 $ 0.06 Add: Dilutive securities 2,113 Diluted income per share: Income available to common stockholders $ 4,366 72,464 $ 0.06 There were an additional aggregate potentially dilutive weighted-average shares of 1,339,000 and 3,265,000 from convertible securities outstanding for the three months ended March 31, 2022 and 2021. These securities were not considered in calculating diluted net income (loss) per share for the three months ended March 31, 2022 and 2021, as their effect would have been anti-dilutive. At March 31, 2022, the Company had outstanding unexercised warrants to purchase 8.9 million shares of its common stock at an exercise price of $9.76 per share. These warrants expired unexercised on April 28, 2022.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Organization and Business	Organization and Business On May 14, 2021 and November 4, 2021, the Company completed the sale of its production facilities located in Madera and Stockton, California, respectively. The results of these facilities are included in the Company’s results reported for the three months ended March 31, 2021. As discussed in Note 2, on January 14, 2022, the Company acquired 100% ownership of Eagle Alcohol Company LLC, a Missouri limited liability company (“Eagle Alcohol”), which is now a wholly-owned subsidiary of Alto Ingredients, Inc. The results of Eagle Alcohol since the date of the acquisition are included in the Company’s results reported for the three months ended March 31, 2022. The Company is a leading producer and distributor of specialty alcohols and essential ingredients. The Company also produces, markets and distributes renewable fuel. The Company’s production facilities in Pekin, Illinois are located in the heart of the Corn Belt, benefit from low-cost and abundant feedstock and allow for access to many additional domestic markets. In addition, the Company’s ability to load unit trains and barges from these facilities allows for greater access to international markets. The Company’s two production facilities in Oregon and Idaho are located in close proximity to both feed and renewable fuel ethanol customers and thus enjoy unique advantages in efficiency, logistics and product pricing. The Company has a combined alcohol production capacity of 350 million gallons per year and produces, on an annualized basis, nearly 1.2 million tons of essential ingredients on a dry matter basis, such as dried yeast, corn gluten meal, corn gluten feed, and distillers grains and liquid feed used in commercial animal feed and pet foods. In addition, the Company sells alcohols acquired from other producers, and markets and distributes fuel-grade ethanol produced by third parties. The Company focuses on four key markets: Health, Home & Beauty Food & Beverage Essential Ingredients Renewable Fuels As of March 31, 2022, all of the Company’s production facilities were operating. As market conditions change, the Company may increase, decrease or idle production at one or more operating facilities or resume operations at any idled facility.
Basis of Presentation–Interim Financial Statements	Basis of Presentation – Interim Financial Statements
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and the Company’s success in contacting and negotiating with the customer. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required. Of the accounts receivable balance, approximately $52,008,000 and $63,929,000 at March 31, 2022 and December 31, 2021, respectively, were used as collateral under Kinergy’s operating line of credit. The allowance for doubtful accounts was $409,000 and $378,000 as of March 31, 2022 and December 31, 2021, respectively. The Company recorded a bad debt expense of $31,000 and $91,000 for the three months ended March 31, 2022 and 2021, respectively. The Company does not have any off-balance sheet credit exposure related to its customers.
Financial Instruments	Financial Instruments
Business Combinations	Business Combinations
Estimates and Assumptions	Estimates and Assumptions

Acquisition of Eagle Alcohol (T

Acquisition of Eagle Alcohol (Tables)	3 Months Ended
	Mar. 31, 2022
Acquisition of Eagle Alcohol [Abstract]
Schedule of pro forma combined financial information assuming the acquisition occurred	Three Months Ended 2022 2021 Revenues – pro forma $ 308,645 $ 225,486 Net income (loss) available to common stockholders – pro forma $ (2,981 ) $ 4,508 Diluted net income (loss) per share – pro forma $ (0.04 ) $ 0.06 Diluted shares 72,339 73,413
Schedule of preliminary purchase price allocation	Cash and equivalents $ 705 Accounts receivables 5,529 Inventories 1,345 Total current assets 7,579 Property and equipment 1,066 Right of use assets 2,749 Total tangible assets $ 11,394 Current liabilities $ 6,219 Right of use liabiltiy 2,749 Total liabiltiies $ 8,968 Net tangible assets acquired $ 2,426 Customer relationships 6,556 Tradename 420 Goodwill 5,958 Total Purchase Price $ 15,360

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of financial data for operating segments	Three Months Ended Net Sales 2022 2021 Pekin Campus production, recorded as gross: Alcohol sales $ 116,050 $ 95,083 Essential ingredient sales 55,280 45,077 Intersegment sales 256 1,473 Total Pekin Campus sales 171,586 141,633 Marketing and distribution: Alcohol sales, gross $ 53,926 $ 57,010 Alcohol sales, net 351 452 Intersegment sales 2,996 2,244 Total marketing and distribution sales 57,273 59,706 Other production, recorded as gross: Alcohol sales $ 59,805 $ 15,969 Essential ingredient sales 18,938 5,143 Intersegment sales 12 305 Total Other production sales 78,755 21,417 Corporate and other 3,768 — Intersegment eliminations (3,264 ) (4,022 ) Net sales as reported $ 308,118 $ 218,734 Cost of goods sold: Pekin Campus $ 168,881 $ 128,864 Marketing and distribution 54,716 53,958 Other production 78,244 24,117 Corporate and other 2,872 — Intersegment eliminations (1,368 ) (2,042 ) Cost of goods sold as reported $ 303,345 $ 204,897 Gross profit (loss): Pekin Campus production $ 2,705 $ 12,769 Marketing and distribution 2,557 5,748 Other production 511 (2,700 ) Corporate and other 896 — Intersegment eliminations (1,896 ) (1,980 ) Gross profit (loss) as reported $ 4,773 $ 13,837 Income (loss) before provision for income taxes: Pekin Campus production $ 85 $ 10,012 Marketing and distribution 785 3,735 Other production (1,209 ) (5,945 ) Corporate and other (2,263 ) (3,124 ) $ (2,602 ) $ 4,678 Depreciation and amortization: Pekin Campus production $ 4,538 $ 4,345 Other production 1,456 1,498 Corporate and other 140 17 $ 6,134 $ 5,860 Interest expense: Pekin Campus production $ — $ 519 Marketing and distribution 200 202 Other production — 136 Corporate and other — 1,028 $ 200 $ 1,885
Schedule of assets by operating segments	March 31, December 31, Total assets: Pekin Campus production $ 271,771 $ 266,197 Marketing and distribution 127,499 130,302 Other production 62,168 57,046 Corporate and other 36,430 31,408 $ 497,868 $ 484,953

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	March 31, December 31, Finished goods $ 38,418 $ 35,509 Work in progress 7,185 6,909 Raw materials 11,770 10,837 Other 1,118 1,118 Total $ 58,491 $ 54,373

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivatives not designated as hedging instruments	As of March 31, 2022 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Restricted cash $ 23,799 Commodity contracts Derivative assets $ 19,498 Derivative liabilities $ 27,487 As of December 31, 2021 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Restricted cash $ 11,513 Commodity contracts Derivative assets $ 15,839 Derivative liabilities $ 13,582
Schedule of recognized gains (losses) for derivatives	Realized Gains For the three months Ended March 31, Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ 15,562 $ 6,185 $ 15,562 $ 6,185 Unrealized Gains (Losses) For the three months Ended March 31, Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ (10,246 ) $ 4,358 $ (10,246 ) $ 4,358

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt [Abstract]
Schedule of long-term borrowings	March 31, December 31, Kinergy line of credit $ 53,715 $ 50,401 Less unamortized debt financing costs (34 ) (40 ) Less short-term portion — — Long-term debt $ 53,681 $ 50,361

Fair Value Measurements. (Table

Fair Value Measurements. (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of recurring and nonrecurring fair value measurements	Fair Value Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 19,498 $ 19,498 $ — $ — Long-lived assets held-for-sale 1,000 — — 1,000 $ 20,498 $ 19,498 $ — $ 1,000 Liabilities: Derivative financial instruments $ (27,487 ) $ (27,487 ) $ — $ — Fair Value Level 1 Level 2 Level 3 Benefit Plan Assets: Derivative financial instruments $ 15,839 $ 15,839 $ — $ — Long-lived assets held-for-sale 1,000 — — 1,000 Defined benefit plan assets(1) (pooled separate accounts): Large U.S. Equity(2) 5,612 — 5,612 — 28 % Small/Mid U.S. Equity(3) 3,684 — 3,684 — 18 % International Equity(4) 2,909 — 2,909 — 15 % Fixed Income(5) 7,782 — 7,782 — 39 % $ 36,826 $ 15,839 $ 19,987 $ 1,000 Liabilities: Derivative financial instruments $ (13,582 ) $ (13,582 ) $ — $ — (1) Included in other assets in the consolidated balance sheets. (2) This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (3) This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (4) This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (5) This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of compute basic and diluted earnings per share	Three Months Ended March 31, 2022 Loss Shares Denominator Per-Share Amount Net loss $ (2,602 ) Less: Preferred stock dividends (312 ) Basic and diluted loss per share: Net loss available to common stockholders $ (2,914 ) 71,390 $ (0.04 ) Three Months Ended March 31, 2021 Income Numerator Shares Denominator Per-Share Amount Net income $ 4,678 Less: Preferred stock dividends (312 ) Basic income per share: Income available to common stockholders $ 4,366 70,351 $ 0.06 Add: Dilutive securities 2,113 Diluted income per share: Income available to common stockholders $ 4,366 72,464 $ 0.06

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Jan. 14, 2022	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity interest owned			100.00%
Production capacity per year	$ 350,000
Annual payments of essential ingredients	1,200
Accounts receivable	52,008,000	$ 63,929,000
Allowance for doubtful accounts	409,000	$ 378,000
Bad debt expense	$ 31,000			$ 91,000

Acquisition of Eagle Alcohol (D

Acquisition of Eagle Alcohol (Details) - USD ($)	Jan. 14, 2022	Mar. 31, 2022	Mar. 31, 2021
Acquisition of Eagle Alcohol (Details) [Line Items]
Purchased membership interests	100.00%
Purchase price	$ 14,000,000
Net working capital	1,300,000
Contingent consideration	14,000,000
Combination cash	9,000,000
Aggregate of common stock	5,000,000
Recognized estimated amount	$ 900,000
Net sales		$ 3,800,000	$ 6,800,000
Net income		$ 200,000	900,000
Estimated for useful life		12 years
Amortization intangibles amount		$ 108,000	$ 9,000
Customer Relationships [Member]
Acquisition of Eagle Alcohol (Details) [Line Items]
Estimated for useful life		10 years

Acquisition of Eagle Alcohol _2

Acquisition of Eagle Alcohol (Details) - Schedule of pro forma combined financial information assuming the acquisition occurred - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of pro forma combined financial information assuming the acquisition occurred [Abstract]
Revenues – pro forma	$ 308,645	$ 225,486
Net income (loss) available to common stockholders – pro forma	$ (2,981)	$ 4,508
Diluted net income (loss) per share – pro forma (in Dollars per share)	$ (0.04)	$ 0.06
Diluted shares (in Shares)	72,339	73,413

Acquisition of Eagle Alcohol _3

Acquisition of Eagle Alcohol (Details) - Schedule of preliminary purchase price allocation - Acquisition of Eagle Alcohol [Member] $ in Thousands	Mar. 31, 2022USD ($)
Acquisition of Eagle Alcohol (Details) - Schedule of preliminary purchase price allocation [Line Items]
Cash and equivalents	$ 705
Accounts receivables	5,529
Inventories	1,345
Total current assets	7,579
Property and equipment	1,066
Right of use assets	2,749
Total tangible assets	11,394
Current liabilities	6,219
Right of use liabiltiy	2,749
Total liabiltiies	8,968
Net tangible assets acquired	2,426
Customer relationships	6,556
Tradename	420
Goodwill	5,958
Total Purchase Price	$ 15,360

Segments (Details)

Segments (Details)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Number of operating segments	3

Segments (Details) - Schedule o

Segments (Details) - Schedule of financial data for operating segments - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Pekin Campus production, recorded as gross:
Cost of goods sold	$ 303,345	$ 204,897
Gross profit (loss)	4,773	13,837
Pekin Campus Production [Member]
Pekin Campus production, recorded as gross:
Cost of goods sold	168,881	128,864
Gross profit (loss)	2,705	12,769
Income (loss) before provision (benefit) for income taxes	85	10,012
Depreciation and amortization:
Depreciation	4,538	4,345
Interest expense:
Interest expense		519
Marketing and Distribution [Member]
Pekin Campus production, recorded as gross:
Cost of goods sold	54,716	53,958
Gross profit (loss)	2,557	5,748
Income (loss) before provision (benefit) for income taxes	785	3,735
Interest expense:
Interest expense	200	202
Other production [Member]
Pekin Campus production, recorded as gross:
Cost of goods sold	78,244	24,117
Gross profit (loss)	511	(2,700)
Income (loss) before provision (benefit) for income taxes	(1,209)	(5,945)
Depreciation and amortization:
Depreciation	1,456	1,498
Interest expense:
Interest expense		136
Corporate and Other [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	3,768
Cost of goods sold	2,872
Intersegment Eliminations [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	(3,264)	(4,022)
Cost of goods sold	(1,368)	(2,042)
Gross profit (loss)	(1,896)	(1,980)
Corporate and other [Member]
Pekin Campus production, recorded as gross:
Gross profit (loss)	896
Income (loss) before provision (benefit) for income taxes	(2,263)	(3,124)
Depreciation and amortization:
Depreciation	140	17
Interest expense:
Interest expense		1,028
Total [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	308,118	218,734
Cost of goods sold	303,345	204,897
Gross profit (loss)	4,773	13,837
Income (loss) before provision (benefit) for income taxes	(2,602)	4,678
Depreciation and amortization:
Depreciation	6,134	5,860
Interest expense:
Interest expense	200	1,885
Alcohol sales [Member] | Pekin Campus Production [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	116,050	95,083
Alcohol sales [Member] | Other production [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	59,805	15,969
Essential Ingredient Sales [Member] | Pekin Campus Production [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	55,280	45,077
Essential Ingredient Sales [Member] | Other production [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	18,938	5,143
Intersegment Sales [Member] | Pekin Campus Production [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	256	1,473
Intersegment Sales [Member] | Marketing and Distribution [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	2,996	2,244
Intersegment Sales [Member] | Other production [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	12	305
Total Pekin Campus Sales [Member] | Pekin Campus Production [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	171,586	141,633
Alcohol sales, gross [Member] | Marketing and Distribution [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	53,926	57,010
Alcohol sales, net [Member] | Marketing and Distribution [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	351	452
Total Marketing and Distribution Sales [Member] | Marketing and Distribution [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	57,273	59,706
Total Other production Sales [Member] | Other production [Member]
Pekin Campus production, recorded as gross:
Net sales as reported	$ 78,755	$ 21,417

Segments (Details) - Schedule_2

Segments (Details) - Schedule of assets by operating segments - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Total assets:
Total assets	$ 497,868	$ 484,953	[1]
Pekin Campus production [Member]
Total assets:
Total assets	271,771	266,197
Marketing and Distribution [Member]
Total assets:
Total assets	127,499	130,302
Other Production [Member]
Total assets:
Total assets	62,168	57,046
Corporate and other [Member]
Total assets:
Total assets	$ 36,430	$ 31,408
[1]	Amounts derived from the audited financial statements for the year ended December 31, 2021.

Inventories (Details)

Inventories (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory net	$ 249,000	$ 0

Inventories (Details) - Schedul

Inventories (Details) - Schedule of inventories - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of inventories [Abstract]
Finished goods	$ 38,418	$ 35,509
Work in progress	7,185	6,909
Raw materials	11,770	10,837
Other	1,118	1,118
Total	$ 58,491	$ 54,373	[1]
[1]	Amounts derived from the audited financial statements for the year ended December 31, 2021.

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Recognized net gains	$ 5,316,000	$ 10,543,000

Derivatives (Details) - Schedul

Derivatives (Details) - Schedule of derivatives not designated as hedging instruments - Non-Designated Derivative Instruments [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Cash Collateral Balance [Member]
Derivatives (Details) - Schedule of derivatives not designated as hedging instruments [Line Items]
Assets, fair value	$ 23,799	$ 11,513
Commodity Contract [Member]
Derivatives (Details) - Schedule of derivatives not designated as hedging instruments [Line Items]
Assets, fair value	19,498	15,839
Liabilities, fair value	$ 27,487	$ 13,582

Derivatives (Details) - Sched_2

Derivatives (Details) - Schedule of recognized gains (losses) for derivatives - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gains	$ 15,562	$ 6,185
Unrealized Gains (Losses)	(10,246)	4,358
Not Designated as Hedging Instrument [Member] | Cost of Sales [Member] | Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Gains	15,562	6,185
Unrealized Gains (Losses)	$ (10,246)	$ 4,358

Debt (Details)

Debt (Details) $ in Millions	Mar. 31, 2022USD ($)
Debt [Abstract]
Unused borrowing	$ 15.2

Debt (Details) - Schedule of lo

Debt (Details) - Schedule of long-term borrowings - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Schedule of long-term borrowings [Abstract]
Kinergy line of credit	$ 53,715	$ 50,401
Less unamortized debt financing costs	(34)	(40)
Less short-term portion
Long-term debt	$ 53,681	$ 50,361

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Commitments and Contingencies (Details) [Line Items]
Indexed price purchase contracts gallons	125,438,000
Open fixed-price sales contracts valued	$ 23,023,000
Future commitments for capital projects	$ 26,769,000
Alcohol from Suppliers [Member] | Purchase Commitments [Member]
Commitments and Contingencies (Details) [Line Items]
Indexed price purchase contracts gallons	17,439,000
Fixed-price purchase contracts value	$ 81,601,000
Corn from Suppliers [Member] | Purchase Commitments [Member]
Commitments and Contingencies (Details) [Line Items]
Fixed-price purchase contracts value	$ 67,584,000
Natural Gas [Member] | Purchase Commitments [Member]
Commitments and Contingencies (Details) [Line Items]
Indexed price purchase contracts gallons	2,140,000
Fixed-price purchase contracts value	$ 13,439,000
Alcohol Sales Contracts [Member]
Commitments and Contingencies (Details) [Line Items]
Open fixed-price sales contracts valued	$ 124,713,000
Sales Commitments [Member]
Commitments and Contingencies (Details) [Line Items]
Open indexed-price sales contracts tons	5,242,000

Pension Plans (Details)

Pension Plans (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Retirement Plan [Member]
Pension Plans (Details) [Line Items]
Projected benefit obligation, amount			$ 23,800,000
Fair value of plan assets			20,000,000
Underfunded amount			3,800,000
Net periodic expense (income)	$ 8,000	$ 22,000
Interest cost	164,000	151,000
Service cost	101,000	109,000
Expected return on plan assets	273,000	238,000
Postretirement Plan [Member]
Pension Plans (Details) [Line Items]
Projected benefit obligation, amount			$ 4,300,000
Net periodic expense (income)	32,000	42,000
Interest cost	26,000	10,000
Service cost	$ 6,000	26,000
Amortization expense		$ 6,000

Fair Value Measurements. (Detai

Fair Value Measurements. (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair value	$ 1,000,000	$ 1,000,000

Fair Value Measurements. (Det_2

Fair Value Measurements. (Details) - Schedule of recurring and nonrecurring fair value measurements - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
Assets:
Asset		$ 20,498	$ 36,826
Derivative Financial Instruments, Liabilities [Member]
Assets:
Asset		19,498	15,839
Liabilities:
Liabilities		(27,487)	(13,582)
Long-lived assets held-for-sale [Member]
Assets:
Asset		1,000	1,000
Large U.S. Equity [Member]
Assets:
Asset	[1],[2]		$ 5,612
Benefit Plan Percentage Allocation	[1],[2]		28.00%
Small/Mid U.S. Equity [Member]
Assets:
Asset	[1],[3]		$ 3,684
Benefit Plan Percentage Allocation	[1],[3]		18.00%
International Equity [Member]
Assets:
Asset	[1],[4]		$ 2,909
Benefit Plan Percentage Allocation	[1],[4]		15.00%
Fixed Income [Member]
Assets:
Asset	[1],[5]		$ 7,782
Benefit Plan Percentage Allocation	[1],[5]		39.00%
Level 1 [Member]
Assets:
Asset		19,498	$ 15,839
Level 1 [Member] | Derivative Financial Instruments, Liabilities [Member]
Assets:
Asset		19,498	15,839
Liabilities:
Liabilities		(27,487)	(13,582)
Level 1 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Asset
Level 1 [Member] | Large U.S. Equity [Member]
Assets:
Asset	[1],[2]
Level 1 [Member] | Small/Mid U.S. Equity [Member]
Assets:
Asset	[1],[3]
Level 1 [Member] | International Equity [Member]
Assets:
Asset	[1],[4]
Level 1 [Member] | Fixed Income [Member]
Assets:
Asset	[1],[5]
Level 2 [Member]
Assets:
Asset			19,987
Level 2 [Member] | Derivative Financial Instruments, Liabilities [Member]
Assets:
Asset
Liabilities:
Liabilities
Level 2 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Asset
Level 2 [Member] | Large U.S. Equity [Member]
Assets:
Asset	[1],[2]		5,612
Level 2 [Member] | Small/Mid U.S. Equity [Member]
Assets:
Asset	[1],[3]		3,684
Level 2 [Member] | International Equity [Member]
Assets:
Asset	[1],[4]		2,909
Level 2 [Member] | Fixed Income [Member]
Assets:
Asset	[1],[5]		7,782
Level 3 [Member]
Assets:
Asset		1,000	1,000
Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member]
Assets:
Asset
Liabilities:
Liabilities
Level 3 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Asset		$ 1,000	1,000
Level 3 [Member] | Large U.S. Equity [Member]
Assets:
Asset	[1],[2]
Level 3 [Member] | Small/Mid U.S. Equity [Member]
Assets:
Asset	[1],[3]
Level 3 [Member] | International Equity [Member]
Assets:
Asset	[1],[4]
Level 3 [Member] | Fixed Income [Member]
Assets:
Asset	[1],[5]
[1]	Included in other assets in the consolidated balance sheets.
[2]	This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
[3]	This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
[4]	This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
[5]	This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Potentially dilutive shares from convertible securities outstanding	1,339,000	3,265,000
Outstanding unexercised warrants to purchase (in Dollars)	$ 8.9
Common stock exercise price (in Dollars per share)	$ 9.76

Earnings Per Share (Details) -

Earnings Per Share (Details) - Schedule of compute basic and diluted earnings per share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of compute basic and diluted earnings per share [Abstract]
Net income	$ (2,602)	$ 4,678
Less: Preferred stock dividends	(312)	(312)
Basic income per share:
Income available to common stockholders	$ (2,914)	$ 4,366
Income available to common stockholders (in Shares)	71,390	70,351
Income available to common stockholders (in Dollars per share)	$ (0.04)	$ 0.06
Add: Dilutive securities
Add: Dilutive securities (in Shares)		2,113
Diluted income per share:
Income available to common stockholders		$ 4,366
Income available to common stockholders (in Shares)		72,464
Income available to common stockholders (in Dollars per share)		$ 0.06
Basic and diluted loss per share:
Net loss available to common stockholders	$ (2,914)
Net loss available to common stockholders (in Shares)	71,390
Net loss available to common stockholders (in Dollars per share)	$ (0.04)