Alto Ingredients (ALTO) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 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		74,180,566
Amendment Flag	false
Entity Central Index Key	0000778164
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
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	Jun. 30, 2022	Dec. 31, 2021	[1]
Current Assets:
Cash and cash equivalents	$ 57,376	$ 50,612
Restricted cash	17,361	11,513
Accounts receivable, net (net of allowance for doubtful accounts of $444 and $378, respectively)	92,744	86,888
Inventories	67,438	54,373
Derivative instruments	27,488	15,839
Notes receivable, current		3,125
Other current assets	11,081	7,176
Total current assets	273,488	229,526
Property and equipment, net	222,946	222,550
Other Assets:
Right of use operating lease assets, net	14,004	13,413
Notes receivable, noncurrent		11,641
Intangible assets, net	9,381	2,678
Goodwill	5,908
Other assets	5,592	5,145
Total other assets	34,885	32,877
Total Assets	531,319	484,953
Current Liabilities:
Accounts payable – trade	21,478	23,251
Accrued liabilities	21,404	21,307
Current portion – operating leases	4,132	3,909
Derivative instruments	32,770	13,582
Other current liabilities	15,340	7,553
Total current liabilities	95,124	69,602
Long-term debt, net of current portion	52,518	50,361
Operating leases, net of current portion	9,801	9,382
Other liabilities	10,288	10,394
Total Liabilities	167,731	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 June 30, 2022 and December 31, 2021; Series B: 1,581 shares authorized; 927 shares issued and outstanding as of June 30, 2022 and December 31, 2021; liquidation preference of $18,075 as of June 30, 2022	1	1
Common stock, $0.001 par value; 300,000 shares authorized; 74,188 and 72,778 shares issued and outstanding as of June 30, 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 June 30, 2022 and December 31, 2021, respectively
Additional paid-in capital	1,036,692	1,037,205
Accumulated other comprehensive loss	(284)	(284)
Accumulated deficit	(672,895)	(691,781)
Total Stockholders’ Equity	363,588	345,214
Total Liabilities and Stockholders’ Equity	$ 531,319	$ 484,953
[1] Amounts derived from the audited consolidated financial statements for the year ended December 31, 2021.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Net of allowance for doubtful accounts (in Dollars)	$ 444	$ 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	74,188	72,778
Common stock, shares outstanding	74,188	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 ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 362,189	$ 298,110	$ 670,307	$ 516,844
Cost of goods sold	353,345	282,877	656,690	487,774
Gross profit	8,844	15,233	13,617	29,070
Selling, general and administrative expenses	8,996	7,230	16,625	14,244
Asset impairments		1,900		3,100
Income (loss) from operations	(152)	6,103	(3,008)	11,726
Interest expense, net	(319)	(1,045)	(519)	(2,930)
Income from cash grant	22,652		22,652
Income from loan forgiveness		3,887		3,887
Other income (expense), net	(66)	(555)	388	385
Income before provision for income taxes	22,115	8,390	19,513	13,068
Provision for income taxes
Net income	22,115	8,390	19,513	13,068
Preferred stock dividends	(315)	(315)	(627)	(627)
Income allocated to participating securities	(284)	(108)	(251)	(167)
Net income available to common stockholders	$ 21,516	$ 7,967	$ 18,635	$ 12,274
Net income per share, basic (in Dollars per share)	$ 0.29	$ 0.11	$ 0.26	$ 0.17
Net income per share, diluted (in Dollars per share)	$ 0.29	$ 0.11	$ 0.26	$ 0.17
Weighted-average shares outstanding, basic (in Shares)	72,936	71,260	71,690	70,808
Weighted-average shares outstanding, diluted (in Shares)	73,123	71,929	71,958	71,961

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities:
Net income	$ 19,513	$ 13,068
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles	12,862	11,670
Inventory valuation	3,010
Asset impairments		3,100
Income from loan forgiveness		(3,887)
Non-cash compensation	1,779	1,655
Amortization of deferred financing fees	37	701
Bad debt expense	66	143
Changes in operating assets and liabilities, net of business acquisition:
Accounts receivable	(393)	(23,694)
Inventories	(14,729)	(18,526)
Other assets	3,210	12,233
Operating leases	(2,528)	(2,069)
Assets held-for-sale		(2,915)
Liabilities held-for-sale		1,445
Accounts payable and accrued expenses	(2,132)	11,096
Net cash provided by operating activities	20,695	4,020
Investing Activities:
Proceeds from Madera Sale		19,500
Additions to property and equipment	(9,762)	(4,192)
Purchase of Eagle Alcohol, net of cash acquired	(14,655)
Net cash (used in) provided by investing activities	(24,417)	15,308
Financing Activities:
Net proceeds from Kinergy’s line of credit	2,195	24,406
Proceeds from principal payments on notes receivable	14,766
Proceeds from stock option exercises		462
Principal payments on borrowings		(37,810)
Preferred stock dividends paid	(627)
Net cash provided by (used in) financing activities	16,334	(12,942)
Net change in cash, cash equivalents and restricted cash	12,612	6,386
Cash, cash equivalents and restricted cash at beginning of period	62,125	48,187
Cash, cash equivalents and restricted cash at end of period	74,737	54,573
Reconciliation of total cash, cash equivalents and restricted cash:
Cash and cash equivalents	57,376	50,796
Restricted cash	17,361	3,777
Total cash, cash equivalents and restricted cash	74,737	54,573
Supplemental Information:
Interest paid	456	2,723
Accrued preferred stock dividends		$ 627

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
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-based compensation			804			804
Issuances of common stock			462			462
Issuances of common stock (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, 2020	$ 1	$ 72	1,036,638	(736,598)	(3,878)	296,235
Balances (in Shares) at Dec. 31, 2020	927	72,487
Net income (loss)						13,068
Balances at Jun. 30, 2021	$ 1	$ 73	1,035,980	(724,157)	(3,878)	308,019
Balances (in Shares) at Jun. 30, 2021	927	72,811
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
Restricted stock issued to employees and directors, net of cancellations and tax			(2,589)			(2,589)
Restricted stock issued to employees and directors, net of cancellations and tax (in Shares)		(350)
Stock-based compensation			851			851
Preferred stock dividends				(315)		(315)
Net income (loss)				8,390		8,390
Balances at Jun. 30, 2021	$ 1	$ 73	1,035,980	(724,157)	(3,878)	308,019
Balances (in Shares) at Jun. 30, 2021	927	72,811
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
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
Stock-based compensation			673			673
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
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
Net income (loss)						19,513
Balances at Jun. 30, 2022	$ 1	$ 74	1,036,692	(672,895)	(284)	363,588
Balances (in Shares) at Jun. 30, 2022	927	74,188
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
Restricted stock issued to employees and directors, net of cancellations and tax			(2,283)			(2,283)
Restricted stock issued to employees and directors, net of cancellations and tax (in Shares)		(223)
Stock-based compensation			1,106			1,106
Preferred stock dividends				(315)		(315)
Net income (loss)				22,115		22,115
Balances at Jun. 30, 2022	$ 1	$ 74	$ 1,036,692	$ (672,895)	$ (284)	$ 363,588
Balances (in Shares) at Jun. 30, 2022	927	74,188

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 and six months ended June 30, 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 barges, rail and trucks 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 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, such as dried yeast, corn gluten meal, corn gluten feed, corn germ, 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 June 30, 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 then-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 $60,256,000 and $63,929,000 at June 30, 2022 and December 31, 2021, respectively, were used as collateral under Kinergy’s operating line of credit. The allowance for doubtful accounts was $444,000 and $378,000 as of June 30, 2022 and December 31, 2021, respectively. The Company recorded a bad debt expense of $35,000 and $52,000 for the three months ended June 30, 2022 and 2021, respectively. The Company recorded a bad debt expense of $66,000 and $143,000 for the six months ended June 30, 2022 and 2021, respectively. The Company does not have any off-balance sheet credit exposure related to its customers. Financial Instruments Business Combinations Income from Cash Grant Accounting for Government Grants and Disclosure of Government Assistance Estimates and Assumptions

Acquisition of Eagle Alcohol

Acquisition of Eagle Alcohol	6 Months Ended
	Jun. 30, 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 and $1.8 million for the three and six months ended June 30, 2022, respectively, 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, 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 June 30, 2022 and 2021 generated $4.1 million and $8.9 million in net sales and $0.0 million and $1.1 million in net income, respectively. Eagle Alcohol’s unaudited results for the six months ended June 30, 2022 and 2021 generated $7.9 million and $17.5 million in net sales and $0.2 million and $2.0 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 $ 362,189 $ 303,640 Net income available to common stockholders – pro forma $ 21,516 $ 7,322 Diluted net income per share – pro forma $ 0.29 $ 0.10 Diluted shares 74,072 72,878 Six Months Ended 2022 2021 Revenues – pro forma $ 670,834 $ 529,126 Net income available to common stockholders – pro forma $ 18,568 $ 11,791 Diluted net income per share – pro forma $ 0.25 $ 0.16 Diluted shares 72,907 72,910 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 cash equivalents $ 705 Accounts receivable 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 $ 6,169 Right of use liabilities 2,749 Total liabiltiies $ 8,918 Net tangible assets acquired $ 2,476 Customer relationships 6,556 Tradename 420 Goodwill 5,908 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 June 30, 2022, the Company recorded amortization expense of $137,000 and $10,000 for customer relationships and tradename, respectively. For the six months ended June 30, 2022, the Company recorded amortization expense of $245,000 and $19,000 for customer relationships and tradename, 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	6 Months Ended
	Jun. 30, 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 Six Months Ended 2022 2021 2022 2021 Net Sales Pekin Campus, recorded as gross: Alcohol sales $ 143,768 $ 132,296 $ 259,818 $ 227,380 Essential ingredient sales 59,853 49,578 115,133 94,655 Intersegment sales 269 316 525 628 Total Pekin Campus sales 203,890 182,190 375,476 322,663 Marketing and distribution: Alcohol sales, gross $ 63,558 $ 86,299 $ 117,484 $ 143,309 Alcohol sales, net 317 532 668 984 Intersegment sales 3,242 2,618 6,239 4,862 Total marketing and distribution sales 67,117 89,449 124,391 149,155 Other production, recorded as gross: Alcohol sales $ 67,184 $ 22,153 $ 126,991 $ 38,121 Essential ingredient sales 23,372 7,252 42,309 12,395 Intersegment sales — 332 12 637 Total Other production sales 90,556 29,737 169,312 51,153 Corporate and other 4,137 — 7,904 — Intersegment eliminations (3,511 ) (3,266 ) (6,776 ) (6,127 ) Net sales as reported $ 362,189 $ 298,110 $ 670,307 $ 516,844 Cost of goods sold: Pekin Campus $ 195,691 $ 171,547 $ 364,573 $ 299,250 Marketing and distribution 63,796 85,746 118,510 139,705 Other production 91,606 27,325 169,851 51,442 Corporate and other 3,197 — 6,070 — Intersegment eliminations (945 ) (1,741 ) (2,314 ) (2,623 ) Cost of goods sold as reported $ 353,345 $ 282,877 $ 656,690 $ 487,774 Gross profit: Pekin Campus $ 8,199 $ 10,643 $ 10,903 $ 23,413 Marketing and distribution 3,321 3,703 5,881 9,450 Other production (1,050 ) 2,412 (539 ) (289 ) Corporate and other 940 — 1,834 — Intersegment eliminations (2,566 ) (1,525 ) (4,462 ) (3,504 ) Gross profit as reported $ 8,844 $ 15,233 $ 13,617 $ 29,070 Income before provision for income taxes: Pekin Campus $ 16,331 $ 10,726 $ 16,413 $ 20,737 Marketing and distribution 1,036 1,678 1,824 5,411 Other production 7,570 (1,666 ) 6,361 (7,612 ) Corporate and other (2,822 ) (2,348 ) (5,085 ) (5,468 ) $ 22,115 $ 8,390 $ 19,513 $ 13,068 Depreciation and amortization of intangibles: Pekin Campus $ 5,084 $ 4,326 $ 9,621 $ 8,671 Other production 1,458 1,468 2,822 2,966 Corporate and other 186 17 419 33 $ 6,728 $ 5,811 $ 12,862 $ 11,670 Interest expense, net of capitalized interest: Pekin Campus $ (3 ) $ 73 $ (33 ) $ 591 Marketing and distribution 336 222 573 426 Other production (39 ) 46 (54 ) 182 Corporate and other 25 704 33 1,731 $ 319 $ 1,045 $ 519 $ 2,930 The following table sets forth the Company’s total assets by operating segment (in thousands): June 30, December 31, Total assets: Pekin Campus $ 273,688 $ 266,197 Marketing and distribution 149,564 130,302 Other production 64,467 57,046 Corporate and other 43,600 31,408 $ 531,319 $ 484,953

Inventories

Inventories	6 Months Ended
	Jun. 30, 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 $3,010,000 and $0 as of June 30, 2022 and December 31, 2021, respectively. Inventory balances consisted of the following (in thousands): June 30, December 31, Finished goods $ 44,610 $ 35,509 Work in progress 8,586 6,909 Raw materials 13,171 10,837 Other 1,071 1,118 Total $ 67,438 $ 54,373

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 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 June 30, 2022 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Restricted cash $ 17,361 Commodity contracts Derivative assets $ 27,488 Derivative liabilities $ 32,770 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 Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ 13,913 $ 18,158 $ 13,913 $ 18,158 Realized Gains For the Six Months Ended Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ 29,476 $ 24,343 $ 29,476 $ 24,343 Unrealized Gains (Losses) For the Three Months Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ 2,706 $ (9,290 ) $ 2,706 $ (9,290 ) Unrealized (Losses) For the Six Months Ended Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ (7,540 ) $ (4,932 ) $ (7,540 ) $ (4,932 )

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt [Abstract]
DEBT	6. DEBT. Long-term borrowings are summarized as follows (in thousands): June 30, December 31, Kinergy line of credit $ 52,596 $ 50,401 Less unamortized debt financing costs (78 ) (40 ) Less short-term portion — — Long-term debt $ 52,518 $ 50,361 As of June 30, 2022, Kinergy had $28.6 million in unused borrowing availability under its line of credit. In addition, the Company believes it is currently in compliance with its covenants under the line of credit.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	7. COMMITMENTS AND CONTINGENCIES. Sales Commitments Purchase Commitments Litigation – General

Pension and Retirement Benefit

Pension and Retirement Benefit Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
PENSION AND RETIREMENT BENEFIT PLANS	8. PENSION AND RETIREMENT BENEFIT 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 June 30, 2022, the Retirement Plan’s net periodic benefit was $8,000, comprised of $273,000 of expected return on plan assets, partially offset by $164,000 in interest cost and $101,000 in service cost. For the three months ended June 30, 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. For the six months ended June 30, 2022, the Retirement Plan’s net periodic benefit was $16,000, comprised of $546,000 of expected return on plan assets, partially offset by $328,000 in interest cost and $202,000 in service cost. For the six months ended June 30, 2021, the Retirement Plan’s net periodic expense was $44,000, comprised of $302,000 in interest cost and $218,000 in service cost, partially offset by $476,000 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 declines 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 June 30, 2022, the Postretirement Plan’s net periodic expense was $32,000, comprised of $6,000 of interest cost and $26,000 of service cost. For the three months ended June 30, 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. For the six months ended June 30, 2022, the Postretirement Plan’s net periodic expense was $64,000, comprised of $12,000 of interest cost and $52,000 of service cost. For the six months ended June 30, 2021, the Postretirement Plan’s net periodic expense was $84,000, comprised of $20,000 of interest cost, $52,000 of service cost and $12,000 of amortization expense.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 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 June 30, 2022 (in thousands): Fair Value Level 1 Level 2 Level 3 Assets: Derivative financial instruments $ 27,488 $ 27,488 $ — $ — Long-lived assets held-for-sale 1,000 — — 1,000 $ 28,488 $ 27,488 $ — $ 1,000 Liabilities: Derivative financial instruments $ (32,770 ) $ (32,770 ) $ — $ — The following table summarizes recurring and nonrecurring fair value measurements by level at December 31, 2021 (in thousands): Benefit Plan Fair Percentage Value Level 1 Level 2 Level 3 Allocation 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	6 Months Ended
	Jun. 30, 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 June 30, 2022 Income Shares Per-Share Net income attributed to Alto Ingredients, Inc. $ 22,115 Less: Preferred stock dividends (315 ) Less: Income allocated to participating securities (284 ) Basic income per share: Income available to common stockholders $ 21,516 72,936 $ 0.29 Add: Dilutive instruments — 187 Diluted income per share: Income available to common stockholders $ 21,516 73,123 $ 0.29 Three Months Ended June 30, 2021 Income Numerator Shares Denominator Per-Share Amount Net income attributed to Alto Ingredients, Inc. $ 8,390 Less: Preferred stock dividends (315 ) Less: Income allocated to participating securities (108 ) Basic income per share: Income available to common stockholders $ 7,967 71,260 $ 0.11 Add: Dilutive instruments — 669 Diluted income per share: Income available to common stockholders $ 7,967 71,929 $ 0.11 Six Months Ended June 30, 2022 Income Numerator Shares Denominator Per-Share Amount Net income attributed to Alto Ingredients, Inc. $ 19,513 Less: Preferred stock dividends (627 ) Less: Income allocated to participating securities (251 ) Basic income per share: Income available to common stockholders $ 18,635 71,690 $ 0.26 Add: Dilutive instruments — 268 Diluted income per share: Income available to common stockholders $ 18,635 71,958 $ 0.26 Six Months Ended June 30, 2021 Income Numerator Shares Denominator Per-Share Amount Net income attributed to Alto Ingredients, Inc. $ 13,068 Less: Preferred stock dividends (627 ) Less: Income allocated to participating securities (167 ) Basic income per share: Income available to common stockholders $ 12,274 70,808 $ 0.17 Add: Dilutive instruments — 1,153 Diluted income per share: Income available to common stockholders $ 12,274 71,961 $ 0.17 There were an additional aggregate potentially dilutive weighted-average shares of 964,000 from convertible securities outstanding for the three and six months ended June 30, 2022 and 2021. These securities were not considered in calculating diluted net income (loss) per share for the three and six months ended June 30, 2022 and 2021, as their effect would have been anti-dilutive. At December 31, 2021, 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)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 and six months ended June 30, 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 barges, rail and trucks 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 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, such as dried yeast, corn gluten meal, corn gluten feed, corn germ, 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 June 30, 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 then-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 $60,256,000 and $63,929,000 at June 30, 2022 and December 31, 2021, respectively, were used as collateral under Kinergy’s operating line of credit. The allowance for doubtful accounts was $444,000 and $378,000 as of June 30, 2022 and December 31, 2021, respectively. The Company recorded a bad debt expense of $35,000 and $52,000 for the three months ended June 30, 2022 and 2021, respectively. The Company recorded a bad debt expense of $66,000 and $143,000 for the six months ended June 30, 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
Income from Cash Grant	Income from Cash Grant Accounting for Government Grants and Disclosure of Government Assistance
Estimates and Assumptions	Estimates and Assumptions

Acquisition of Eagle Alcohol (T

Acquisition of Eagle Alcohol (Tables)	6 Months Ended
	Jun. 30, 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 $ 362,189 $ 303,640 Net income available to common stockholders – pro forma $ 21,516 $ 7,322 Diluted net income per share – pro forma $ 0.29 $ 0.10 Diluted shares 74,072 72,878 Six Months Ended 2022 2021 Revenues – pro forma $ 670,834 $ 529,126 Net income available to common stockholders – pro forma $ 18,568 $ 11,791 Diluted net income per share – pro forma $ 0.25 $ 0.16 Diluted shares 72,907 72,910
Schedule of preliminary purchase price allocation	Cash and cash equivalents $ 705 Accounts receivable 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 $ 6,169 Right of use liabilities 2,749 Total liabiltiies $ 8,918 Net tangible assets acquired $ 2,476 Customer relationships 6,556 Tradename 420 Goodwill 5,908 Total Purchase Price $ 15,360

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of financial data for operating segments	Three Months Ended Six Months Ended 2022 2021 2022 2021 Net Sales Pekin Campus, recorded as gross: Alcohol sales $ 143,768 $ 132,296 $ 259,818 $ 227,380 Essential ingredient sales 59,853 49,578 115,133 94,655 Intersegment sales 269 316 525 628 Total Pekin Campus sales 203,890 182,190 375,476 322,663 Marketing and distribution: Alcohol sales, gross $ 63,558 $ 86,299 $ 117,484 $ 143,309 Alcohol sales, net 317 532 668 984 Intersegment sales 3,242 2,618 6,239 4,862 Total marketing and distribution sales 67,117 89,449 124,391 149,155 Other production, recorded as gross: Alcohol sales $ 67,184 $ 22,153 $ 126,991 $ 38,121 Essential ingredient sales 23,372 7,252 42,309 12,395 Intersegment sales — 332 12 637 Total Other production sales 90,556 29,737 169,312 51,153 Corporate and other 4,137 — 7,904 — Intersegment eliminations (3,511 ) (3,266 ) (6,776 ) (6,127 ) Net sales as reported $ 362,189 $ 298,110 $ 670,307 $ 516,844 Cost of goods sold: Pekin Campus $ 195,691 $ 171,547 $ 364,573 $ 299,250 Marketing and distribution 63,796 85,746 118,510 139,705 Other production 91,606 27,325 169,851 51,442 Corporate and other 3,197 — 6,070 — Intersegment eliminations (945 ) (1,741 ) (2,314 ) (2,623 ) Cost of goods sold as reported $ 353,345 $ 282,877 $ 656,690 $ 487,774 Gross profit: Pekin Campus $ 8,199 $ 10,643 $ 10,903 $ 23,413 Marketing and distribution 3,321 3,703 5,881 9,450 Other production (1,050 ) 2,412 (539 ) (289 ) Corporate and other 940 — 1,834 — Intersegment eliminations (2,566 ) (1,525 ) (4,462 ) (3,504 ) Gross profit as reported $ 8,844 $ 15,233 $ 13,617 $ 29,070 Income before provision for income taxes: Pekin Campus $ 16,331 $ 10,726 $ 16,413 $ 20,737 Marketing and distribution 1,036 1,678 1,824 5,411 Other production 7,570 (1,666 ) 6,361 (7,612 ) Corporate and other (2,822 ) (2,348 ) (5,085 ) (5,468 ) $ 22,115 $ 8,390 $ 19,513 $ 13,068 Depreciation and amortization of intangibles: Pekin Campus $ 5,084 $ 4,326 $ 9,621 $ 8,671 Other production 1,458 1,468 2,822 2,966 Corporate and other 186 17 419 33 $ 6,728 $ 5,811 $ 12,862 $ 11,670 Interest expense, net of capitalized interest: Pekin Campus $ (3 ) $ 73 $ (33 ) $ 591 Marketing and distribution 336 222 573 426 Other production (39 ) 46 (54 ) 182 Corporate and other 25 704 33 1,731 $ 319 $ 1,045 $ 519 $ 2,930
Schedule of assets by operating segments	June 30, December 31, Total assets: Pekin Campus $ 273,688 $ 266,197 Marketing and distribution 149,564 130,302 Other production 64,467 57,046 Corporate and other 43,600 31,408 $ 531,319 $ 484,953

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	June 30, December 31, Finished goods $ 44,610 $ 35,509 Work in progress 8,586 6,909 Raw materials 13,171 10,837 Other 1,071 1,118 Total $ 67,438 $ 54,373

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivatives not designated as hedging instruments	As of June 30, 2022 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Restricted cash $ 17,361 Commodity contracts Derivative assets $ 27,488 Derivative liabilities $ 32,770 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 for its derivatives	Realized Gains For the Three Months Ended Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ 13,913 $ 18,158 $ 13,913 $ 18,158 Realized Gains For the Six Months Ended Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ 29,476 $ 24,343 $ 29,476 $ 24,343 Unrealized Gains (Losses) For the Three Months Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ 2,706 $ (9,290 ) $ 2,706 $ (9,290 ) Unrealized (Losses) For the Six Months Ended Type of Instrument Statements of Operations Location 2022 2021 Commodity contracts Cost of goods sold $ (7,540 ) $ (4,932 ) $ (7,540 ) $ (4,932 )

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt [Abstract]
Schedule of long-term borrowings	6. DEBT. June 30, December 31, Kinergy line of credit $ 52,596 $ 50,401 Less unamortized debt financing costs (78 ) (40 ) Less short-term portion — — Long-term debt $ 52,518 $ 50,361

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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 $ 27,488 $ 27,488 $ — $ — Long-lived assets held-for-sale 1,000 — — 1,000 $ 28,488 $ 27,488 $ — $ 1,000 Liabilities: Derivative financial instruments $ (32,770 ) $ (32,770 ) $ — $ — Benefit Plan Fair Percentage Value Level 1 Level 2 Level 3 Allocation 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 ) $ — $ —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of compute basic and diluted earnings per share	Three Months Ended June 30, 2022 Income Shares Per-Share Net income attributed to Alto Ingredients, Inc. $ 22,115 Less: Preferred stock dividends (315 ) Less: Income allocated to participating securities (284 ) Basic income per share: Income available to common stockholders $ 21,516 72,936 $ 0.29 Add: Dilutive instruments — 187 Diluted income per share: Income available to common stockholders $ 21,516 73,123 $ 0.29 Three Months Ended June 30, 2021 Income Numerator Shares Denominator Per-Share Amount Net income attributed to Alto Ingredients, Inc. $ 8,390 Less: Preferred stock dividends (315 ) Less: Income allocated to participating securities (108 ) Basic income per share: Income available to common stockholders $ 7,967 71,260 $ 0.11 Add: Dilutive instruments — 669 Diluted income per share: Income available to common stockholders $ 7,967 71,929 $ 0.11 Six Months Ended June 30, 2022 Income Numerator Shares Denominator Per-Share Amount Net income attributed to Alto Ingredients, Inc. $ 19,513 Less: Preferred stock dividends (627 ) Less: Income allocated to participating securities (251 ) Basic income per share: Income available to common stockholders $ 18,635 71,690 $ 0.26 Add: Dilutive instruments — 268 Diluted income per share: Income available to common stockholders $ 18,635 71,958 $ 0.26 Six Months Ended June 30, 2021 Income Numerator Shares Denominator Per-Share Amount Net income attributed to Alto Ingredients, Inc. $ 13,068 Less: Preferred stock dividends (627 ) Less: Income allocated to participating securities (167 ) Basic income per share: Income available to common stockholders $ 12,274 70,808 $ 0.17 Add: Dilutive instruments — 1,153 Diluted income per share: Income available to common stockholders $ 12,274 71,961 $ 0.17

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jan. 14, 2022
Organization and Basis of Presentation (Details) [Line Items]
Production capacity per year			$ 350,000
Annual payments of essential ingredients	$ 1,200		1,200
Accounts receivable			60,256,000		$ 63,929,000
Allowance for doubtful accounts	444,000		444,000		$ 378,000
Bad Debt Expense	35,000	$ 52,000	66,000	$ 143,000
Cash	$ 22,652,000		22,652,000
Loan			$ 700,000,000
Ownership [Member]
Organization and Basis of Presentation (Details) [Line Items]
Equity interest owned						100%

Acquisition of Eagle Alcohol (D

Acquisition of Eagle Alcohol (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jan. 14, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Acquisition of Eagle Alcohol (Details) [Line Items]
Purchased membership interests	100%
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
General and administrative expenses		$ 900,000		$ 1,800,000
Net sales		4,100,000	$ 8,900,000	7,900,000	$ 17,500,000
Net income		0	1,100,000	$ 200,000	2,000,000
Estimated for useful life				12 years
Amortization amount		$ 137,000	$ 10,000	$ 245,000	$ 19,000
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, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of pro forma combined financial information assuming the acquisition occurred [Abstract]
Revenues – pro forma	$ 362,189	$ 303,640	$ 670,834	$ 529,126
Net income available to common stockholders – pro forma	$ 21,516	$ 7,322	$ 18,568	$ 11,791
Diluted net income per share – pro forma (in Dollars per share)	$ 0.29	$ 0.1	$ 0.25	$ 0.16
Diluted shares (in Shares)	74,072,000	72,878,000	72,907,000	72,910,000

Acquisition of Eagle Alcohol _3

Acquisition of Eagle Alcohol (Details) - Schedule of preliminary purchase price allocation - Acquisition of Eagle Alcohol [Member] $ in Thousands	Jun. 30, 2022 USD ($)
Acquisition of Eagle Alcohol (Details) - Schedule of preliminary purchase price allocation [Line Items]
Cash and cash equivalents	$ 705
Accounts receivable	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	6,169
Right of use liabilities	2,749
Total liabiltiies	8,918
Net tangible assets acquired	2,476
Customer relationships	6,556
Tradename	420
Goodwill	5,908
Total Purchase Price	$ 15,360

Segments (Details)

Segments (Details)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Cost of goods sold:
Cost of goods sold	$ 353,345	$ 282,877	$ 656,690	$ 487,774
Gross profit:
Gross profit	8,844	15,233	13,617	29,070
Pekin Campus Production [Member]
Interest expense, net of capitalized interest:
Interest expense, net of capitalized interest	(3)	73	(33)	591
Marketing and Distribution [Member]
Cost of goods sold:
Cost of goods sold	63,796	85,746	118,510	139,705
Gross profit:
Gross profit	3,321	3,703	5,881	9,450
Income before provision for income taxes:
Income before provision for income taxes	1,036	1,678	1,824	5,411
Interest expense, net of capitalized interest:
Interest expense, net of capitalized interest	336	222	573	426
Other production [Member]
Cost of goods sold:
Cost of goods sold	91,606	27,325	169,851	51,442
Gross profit:
Gross profit	(1,050)	2,412	(539)	(289)
Income before provision for income taxes:
Income before provision for income taxes	7,570	(1,666)	6,361	(7,612)
Depreciation and amortization of intangibles:
Depreciation and amortization of intangibles	1,458	1,468	2,822	2,966
Interest expense, net of capitalized interest:
Interest expense, net of capitalized interest	(39)	46	(54)	182
Corporate and other [Member]
Pekin Campus, recorded as gross:
Net sales	4,137		7,904
Gross profit:
Gross profit	940		1,834
Income before provision for income taxes:
Income before provision for income taxes	(2,822)	(2,348)	(5,085)	(5,468)
Depreciation and amortization of intangibles:
Depreciation and amortization of intangibles	186	17	419	33
Interest expense, net of capitalized interest:
Interest expense, net of capitalized interest	25	704	33	1,731
Intersegment Eliminations [Member]
Pekin Campus, recorded as gross:
Net sales	(3,511)	(3,266)	(6,776)	(6,127)
Cost of goods sold:
Cost of goods sold	(945)	(1,741)	(2,314)	(2,623)
Gross profit:
Gross profit	(2,566)	(1,525)	(4,462)	(3,504)
Pekin Campus Production [Member]
Cost of goods sold:
Cost of goods sold	195,691	171,547	364,573	299,250
Gross profit:
Gross profit	8,199	10,643	10,903	23,413
Income before provision for income taxes:
Income before provision for income taxes	16,331	10,726	16,413	20,737
Depreciation and amortization of intangibles:
Depreciation and amortization of intangibles	5,084	4,326	9,621	8,671
Corporate and other [Member]
Cost of goods sold:
Cost of goods sold	3,197		6,070
Total [Member]
Pekin Campus, recorded as gross:
Net sales	362,189	298,110	670,307	516,844
Cost of goods sold:
Cost of goods sold	353,345	282,877	656,690	487,774
Gross profit:
Gross profit	8,844	15,233	13,617	29,070
Income before provision for income taxes:
Income before provision for income taxes	22,115	8,390	19,513	13,068
Depreciation and amortization of intangibles:
Depreciation and amortization of intangibles	6,728	5,811	12,862	11,670
Interest expense, net of capitalized interest:
Interest expense, net of capitalized interest	319	1,045	519	2,930
Alcohol sales [Member] | Pekin Campus Production [Member]
Pekin Campus, recorded as gross:
Net sales	143,768	132,296	259,818	227,380
Alcohol sales [Member] | Other production [Member]
Pekin Campus, recorded as gross:
Net sales	67,184	22,153	126,991	38,121
Essential Ingredient Sales [Member] | Pekin Campus Production [Member]
Pekin Campus, recorded as gross:
Net sales	59,853	49,578	115,133	94,655
Essential Ingredient Sales [Member] | Other production [Member]
Pekin Campus, recorded as gross:
Net sales	23,372	7,252	42,309	12,395
Intersegment Sales [Member] | Pekin Campus Production [Member]
Pekin Campus, recorded as gross:
Net sales	269	316	525	628
Intersegment Sales [Member] | Marketing and Distribution [Member]
Pekin Campus, recorded as gross:
Net sales	3,242	2,618	6,239	4,862
Intersegment Sales [Member] | Other production [Member]
Pekin Campus, recorded as gross:
Net sales		332	12	637
Total Pekin Campus Sales [Member] | Pekin Campus Production [Member]
Pekin Campus, recorded as gross:
Net sales	203,890	182,190	375,476	322,663
Alcohol sales, gross [Member] | Marketing and Distribution [Member]
Pekin Campus, recorded as gross:
Net sales	63,558	86,299	117,484	143,309
Alcohol sales, net [Member] | Marketing and Distribution [Member]
Pekin Campus, recorded as gross:
Net sales	317	532	668	984
Total Marketing and Distribution Sales [Member] | Marketing and Distribution [Member]
Pekin Campus, recorded as gross:
Net sales	67,117	89,449	124,391	149,155
Total Other production Sales [Member] | Other production [Member]
Pekin Campus, recorded as gross:
Net sales	$ 90,556	$ 29,737	$ 169,312	$ 51,153

Segments (Details) - Schedule_2

Segments (Details) - Schedule of assets by operating segments - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Total assets:
Total assets	$ 531,319	$ 484,953	[1]
Pekin Campus production [Member]
Total assets:
Total assets	273,688	266,197
Marketing and Distribution [Member]
Total assets:
Total assets	149,564	130,302
Other Production [Member]
Total assets:
Total assets	64,467	57,046
Corporate and other [Member]
Total assets:
Total assets	$ 43,600	$ 31,408
[1] Amounts derived from the audited consolidated financial statements for the year ended December 31, 2021.

Inventories (Details)

Inventories (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory net	$ 3,010,000	$ 0

Inventories (Details) - Schedul

Inventories (Details) - Schedule of inventories - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Schedule of inventories [Abstract]
Finished goods	$ 44,610	$ 35,509
Work in progress	8,586	6,909
Raw materials	13,171	10,837
Other	1,071	1,118
Total	$ 67,438	$ 54,373

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Recognized net gains	$ 16,619,000	$ 8,868,000	$ 21,936,000	$ 19,411,000

Derivatives (Details) - Schedul

Derivatives (Details) - Schedule of derivatives not designated as hedging instruments - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Schedule of derivatives not designated as hedging instruments [Abstract]
Type of Instrument Cash collateral balance	Cash collateral balance	Cash collateral balance
Assets, Balance Sheet Location Cash collateral balance	Restricted cash	Restricted cash
Assets, Fair Value Cash collateral balance	$ 17,361	$ 11,513
Liabilities, Balance Sheet Location Cash collateral balance
Liabilities, Fair Value Cash collateral balance
Type of Instrument Commodity contracts	Commodity contracts	Commodity contracts
Assets, Balance Sheet Location Commodity contracts	Derivative assets	Derivative assets
Assets, Fair Value Commodity contracts	$ 27,488	$ 15,839
Liabilities, Balance Sheet Location Commodity contracts	Derivative liabilities	Derivative liabilities
Liabilities, Fair Value Commodity contracts	$ 32,770	$ 13,582

Derivatives (Details) - Sched_2

Derivatives (Details) - Schedule of recognized gains for its derivatives - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Realized Gains [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Type of Instrument	Commodity contracts		Commodity contracts
Statements of Operations Location	Cost of goods sold		Cost of goods sold
Realized Gains	$ 13,913	$ 18,158	$ 29,476	$ 24,343
Total Realized Gains	$ 13,913	18,158	$ 29,476	24,343
Unrealized Gains (Losses) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Type of Instrument	Commodity contracts		Commodity contracts
Statements of Operations Location	Cost of goods sold		Cost of goods sold
Unrealized Gains (Losses)	$ 2,706	(9,290)	$ (7,540)	(4,932)
Total Unrealized Gains (Losses)	$ 2,706	$ (9,290)	$ (7,540)	$ (4,932)

Debt (Details)

Debt (Details) $ in Millions	Jun. 30, 2022 USD ($)
Debt [Abstract]
Unused borrowing	$ 28.6

Debt (Details) - Schedule of lo

Debt (Details) - Schedule of long-term borrowings - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Schedule of long-term borrowings [Abstract]
Kinergy line of credit	$ 52,596	$ 50,401
Less unamortized debt financing costs	(78)	(40)
Less short-term portion
Long-term debt	$ 52,518	$ 50,361

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Commitments and Contingencies (Details) [Line Items]
Indexed price purchase contracts gallons	103,094,000
Open fixed-price sales contracts valued	$ 18,847,000
Future commitments for capital projects	$ 34,800,000
Alcohol from Suppliers [Member] | Purchase Commitments [Member]
Commitments and Contingencies (Details) [Line Items]
Indexed price purchase contracts gallons	12,746,000
Fixed-price purchase contracts value	$ 68,886,000
Corn from Suppliers [Member] | Purchase Commitments [Member]
Commitments and Contingencies (Details) [Line Items]
Fixed-price purchase contracts value	$ 104,062,000
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	$ 7,724,000
Alcohol Sales Contracts [Member]
Commitments and Contingencies (Details) [Line Items]
Open fixed-price sales contracts valued	$ 102,157,000

Pension and Retirement Benefi_2

Pension and Retirement Benefit Plans (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Retirement Plan [Member]
Pension and Retirement Benefit Plans (Details) [Line Items]
Projected benefit obligation, amount					$ 23,800,000
Fair value of plan assets					20,000,000
Underfunded amount					3,800,000
Retirement plan’s net periodic benefit	$ 8,000
Expected return on plan assets	273,000	$ 238,000	$ 546,000	$ 476,000
Interest cost	164,000	151,000	328,000	302,000
Service cost	101,000	109,000	202,000	218,000
Net periodic expense (income)		(22,000)	16,000	44,000
Postretirement Plan [Member]
Pension and Retirement Benefit Plans (Details) [Line Items]
Projected benefit obligation, amount					$ 4,300,000
Interest cost	26,000	10,000	52,000	20,000
Service cost	6,000	26,000	12,000	52,000
Net periodic expense (income)	$ 32,000	42,000	$ 64,000	84,000
Amortization expense		$ 6,000		$ 12,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Fair Value Disclosures [Abstract]
Property and equipment held-for-sale	$ 1,000,000

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of recurring and nonrecurring fair value measurements - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Assets:
Assets		$ 28,488
Derivative Financial Instruments, Assets [Member]
Assets:
Assets		27,488	$ 15,839
Long-lived assets held-for-sale [Member]
Assets:
Assets		1,000	1,000
Derivative Financial Instruments, Liabilities [Member]
Liabilities:
Liabilities		(32,770)	(13,582)
Large U.S. Equity [Member]
Assets:
Assets	[1]		$ 5,612
Benefit Plan Percentage Allocation	[1]		28%
Small/Mid U.S. Equity [Member]
Assets:
Assets	[2]		$ 3,684
Benefit Plan Percentage Allocation	[2]		18%
International Equity [Member]
Assets:
Assets	[3]		$ 2,909
Benefit Plan Percentage Allocation	[3]		15%
Fixed Income [Member]
Assets:
Assets	[4]		$ 7,782
Benefit Plan Percentage Allocation	[4]		39%
Defined benefit plan assets [Member]
Assets:
Assets			$ 36,826
Level 1 [Member]
Assets:
Assets		27,488
Level 1 [Member] | Derivative Financial Instruments, Assets [Member]
Assets:
Assets		27,488	15,839
Level 1 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Assets
Level 1 [Member] | Derivative Financial Instruments, Liabilities [Member]
Liabilities:
Liabilities		(32,770)	(13,582)
Level 1 [Member] | Large U.S. Equity [Member]
Assets:
Assets	[1]
Level 1 [Member] | Small/Mid U.S. Equity [Member]
Assets:
Assets	[2]
Level 1 [Member] | International Equity [Member]
Assets:
Assets	[3]
Level 1 [Member] | Fixed Income [Member]
Assets:
Assets	[4]
Level 1 [Member] | Defined benefit plan assets [Member]
Assets:
Assets			15,839
Level 2 [Member]
Assets:
Assets
Level 2 [Member] | Derivative Financial Instruments, Assets [Member]
Assets:
Assets
Level 2 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Assets
Level 2 [Member] | Derivative Financial Instruments, Liabilities [Member]
Liabilities:
Liabilities
Level 2 [Member] | Large U.S. Equity [Member]
Assets:
Assets	[1]		5,612
Level 2 [Member] | Small/Mid U.S. Equity [Member]
Assets:
Assets	[2]		3,684
Level 2 [Member] | International Equity [Member]
Assets:
Assets	[3]		2,909
Level 2 [Member] | Fixed Income [Member]
Assets:
Assets	[4]		7,782
Level 2 [Member] | Defined benefit plan assets [Member]
Assets:
Assets			19,987
Level 3 [Member]
Assets:
Assets		1,000
Level 3 [Member] | Derivative Financial Instruments, Assets [Member]
Assets:
Assets
Level 3 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Assets		1,000	1,000
Level 3 [Member] | Derivative Financial Instruments, Liabilities [Member]
Liabilities:
Liabilities
Level 3 [Member] | Large U.S. Equity [Member]
Assets:
Assets	[1]
Level 3 [Member] | Small/Mid U.S. Equity [Member]
Assets:
Assets	[2]
Level 3 [Member] | International Equity [Member]
Assets:
Assets	[3]
Level 3 [Member] | Fixed Income [Member]
Assets:
Assets	[4]
Level 3 [Member] | Defined benefit plan assets [Member]
Assets:
Assets			$ 1,000
[1]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.[2]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.[3]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.[4]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) - $ / shares	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Potentially dilutive shares from convertible securities outstanding		964,000	964,000	964,000	964,000
Outstanding unexercised warrants to purchase	8.9
Common stock exercise price per share (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, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of compute basic and diluted earnings per share [Abstract]
Net income attributed to Alto Ingredients, Inc.	$ 22,115	$ 8,390	$ 19,513	$ 13,068
Less: Preferred stock dividends	(315)	(315)	(627)	(627)
Less: Income allocated to participating securities	(284)	(108)	(251)	(167)
Basic income per share:
Income available to common stockholders	$ 21,516	$ 7,967	$ 18,635	$ 12,274
Income available to common stockholders (in Shares)	72,936	71,260	71,690	70,808
Income available to common stockholders (in Dollars per share)	$ 0.29	$ 0.11	$ 0.26	$ 0.17
Add: Dilutive instruments
Add: Dilutive instruments (in Shares)	187	669	268	1,153
Diluted income per share:
Income available to common stockholders	$ 21,516	$ 7,967	$ 18,635	$ 12,274
Income available to common stockholders (in Shares)	73,123	71,929	71,958	71,961
Income available to common stockholders (in Dollars per share)	$ 0.29	$ 0.11	$ 0.26	$ 0.17