MGP Ingredients (MGPI) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	MGP INGREDIENTS INC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		16,681,776
Amendment Flag	false
Entity Central Index Key	835,011
Entity Filer Category	Accelerated Filer
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Sales		$ 83,880	$ 83,966	$ 260,815	$ 254,451
Less: excise taxes		3,552	6,451	14,720	17,373
Net sales		80,328	77,515	246,095	237,078
Cost of sales	[1]	68,466	70,204	203,317	214,658
Gross profit		11,862	7,311	42,778	22,420
Selling, general and administrative expenses		5,497	4,967	20,002	15,205
Insurance recoveries (Note 6)		0	(1,293)	0	(1,223)
Income from operations		6,365	3,637	22,776	8,438
Interest expense, net		(114)	(199)	(374)	(615)
Equity method investment earnings (Note 2)		1,562	1,621	6,010	7,287
Income before income taxes		7,813	5,059	28,412	15,110
Provision (benefit) for income taxes		1,042	(1,169)	8,700	(1,002)
Net income		6,771	6,228	19,712	16,112
Other comprehensive income (loss), net of tax		(15)	(123)	243	202
Comprehensive income		$ 6,756	$ 6,105	$ 19,955	$ 16,314
Basic and diluted earnings per share (in usd per share)		$ 0.38	$ 0.34	$ 1.10	$ 0.89
Dividends and dividend equivalents per common share (in usd per share)		$ 0	$ 0	$ 0.06	$ 0.05
[1]	Includes related party purchases of $8,929 and $10,079 for the quarters ended September 30, 2015 and 2014, respectively. Includes related party purchases of $28,366 and $26,220 for the year to date periods ended September 30, 2015 and 2014. See Note 2. Equity Method Investments.

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Cost of sales, related party transactions	$ 8,929	$ 10,079	$ 28,366	$ 26,220

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 126	$ 5,641
Receivables (less allowance for doubtful accounts: September 30, 2015 - $6; December 31, 2014 - $12)	31,659	32,672
Inventory	52,208	34,441
Prepaid expenses	2,239	1,179
Deferred income taxes	5,555	7,924
Refundable income taxes	707	388
Total current assets	92,494	82,245
Property and equipment	219,866	198,176
Less accumulated depreciation and amortization	(143,315)	(134,295)
Property and equipment, net	76,551	63,881
Equity method investments (Note 2)	18,427	12,373
Other assets	1,923	2,100
Total assets	189,395	160,599
Current Liabilities
Current maturities of long-term debt	2,400	2,613
Accounts payable	20,775	16,076
Accounts payable to affiliate, net	4,070	3,333
Accrued expenses	10,348	8,010
Other current liabilities	0	716
Total current liabilities	37,593	30,748
Long-term debt, less current maturities	6,512	7,670
Credit facility	19,901	0
Deferred credit	3,579	4,099
Accrued retirement health and life insurance benefits	4,193	4,420
Deferred income taxes	8,333	9,297
Total liabilities	$ 80,111	$ 56,234
Commitments and Contingencies (Note 4)
Capital stock
Preferred, 5% non-cumulative; $10 par value; authorized 1,000 shares; issued and outstanding 437 shares	$ 4	$ 4
Common stock
No par value; authorized 40,000,000 shares; issued 18,115,965 shares at September 30, 2015 and December 31, 2014, and 16,675,816 and 17,674,599 shares outstanding at September 30, 2015 and December 31, 2014, respectively	6,715	6,715
Additional paid-in capital	11,013	9,904
Retained earnings	108,079	89,454
Accumulated other comprehensive loss, net of tax	(489)	(732)
Treasury stock, at cost
Shares of 1,440,149 at September 30, 2015 and 441,406 at December 31, 2014	(16,038)	(980)
Total stockholders’ equity	109,284	104,365
Total liabilities and stockholders’ equity	$ 189,395	$ 160,599

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Receivables allowance for doubtful accounts (in dollars)	$ 6	$ 12
Preferred stock, percentage non-cumulative (percent)	5.00%	5.00%
Preferred stock, par value (in Dollars per share)	$ 10	$ 10
Preferred stock, shares authorized (shares)	1,000	1,000
Preferred stock, shares issued (shares)	437	437
Preferred stock, shares outstanding (shares)	437	437
Common stock, shares authorized (shares)	40,000,000	40,000,000
Common stock, shares issued (shares)	18,115,965	18,115,965
Common stock, shares outstanding (shares)	16,675,816	17,674,599
Treasury stock (shares)	1,440,149	441,406

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities
Net income	$ 19,712	$ 16,112
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and amortization	9,260	9,202
Gain on property insurance recoveries	0	(1,223)
Deferred income taxes, including change in valuation allowance	1,405	(1,215)
Share based compensation	1,417	588
Equity method investment earnings	(6,010)	(7,287)
Changes in Operating Assets and Liabilities:
Receivables, net	1,013	(3,729)
Inventory	(17,767)	3,452
Prepaid expenses	(1,060)	(587)
Refundable income taxes	(319)	241
Accounts payable	3,052	(8,188)
Accounts payable to affiliate, net	737	2,220
Accrued expenses	2,338	(295)
Deferred credit	(520)	334
Accrued retirement health and life insurance benefits and other accrued retiree benefits	(746)	(456)
Other	286	(414)
Net cash provided by operating activities	12,798	8,755
Cash Flows from Investing Activities
Additions to property and equipment	(20,043)	(4,920)
Proceeds from property insurance recoveries	0	1,383
Proceeds from sale of property and other	0	4
Net cash used in investing activities	(20,043)	(3,533)
Cash Flows from Financing Activities
Purchase of treasury stock	(15,366)	(601)
Payment of dividends	(1,087)	(907)
Principal payments on long-term debt	(1,203)	(1,162)
Proceeds from credit facility	21,125	49,590
Payments on credit facility	(1,391)	(54,933)
Loan fees incurred with borrowings	(348)	(66)
Net cash provided by (used in) financing activities	1,730	(8,079)
Decrease in cash and cash equivalents	(5,515)	(2,857)
Cash and cash equivalents, beginning of year	5,641	2,857
Cash and cash equivalents, end of period	$ 126	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Changes In Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands		Total	Capital Stock Preferred	Issued Common	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning Balance at Dec. 31, 2014		$ 104,365	$ 4	$ 6,715	$ 9,904	$ 89,454	$ (732)	$ (980)
Comprehensive income:
Net income		19,712				19,712
Change in pension plans, net of tax	[1]	243					243
Change in post employment benefits	[1]	(45)					(45)
Change in translation adjustment on non-consolidated foreign subsidiary, net of tax	[2]	45					45
Dividends and dividend equivalents declared, net		(1,087)				(1,087)
Share-based compensation		1,417			1,417
Stock shares awarded, forfeited or vested		0			(308)			308
Stock shares repurchased		(15,366)						(15,366)
Ending Balance at Sep. 30, 2015		$ 109,284	$ 4	$ 6,715	$ 11,013	$ 108,079	$ (489)	$ (16,038)
[1]	See Note 9. Employee and Non-Employee Benefit Plans for amounts reclassified from Accumulated Other Comprehensive Loss.
[2]	See Note 2. Equity Method Investments for amounts reclassified from Accumulated Other Comprehensive Loss.

Accounting Policies and Basis o

Accounting Policies and Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Accounting Policies and Basis of Presentation	Accounting Policies and Basis of Presentation. MGP Ingredients, Inc. ("Company") is a Kansas corporation headquartered in Atchison, Kansas. It was incorporated in 2011 and is a holding company with no operations of its own. Its principal directly-owned operating subsidiaries are MGPI Processing, Inc. ("Processing") and MGPI of Indiana, LLC ("MGPI-I"). Processing was incorporated in Kansas in 1957 and is the successor to a business founded in 1941 by Cloud L. Cray, Sr. On January 3, 2012 , MGP Ingredients, Inc. reorganized into a holding company structure (the "Reorganization") through a series of steps involving various legal entities. Prior to the Reorganization, Processing was named MGP Ingredients, Inc. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements of the Company reflect all adjustments (consisting only of normal adjustments) which, in the opinion of the Company’s management, are necessary to fairly present the financial position, results of operations and cash flows of the Company. All intercompany balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements as of and for the year to date period ended September 30, 2015 should be read in conjunction with the consolidated financial statements and notes thereto in the Company’s Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission ("SEC"). The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Inventory Inventory includes finished goods, barreled distillate, raw materials in the form of agricultural commodities used in the production process, work in process, and certain maintenance and repair items. Whiskey and bourbon must be aged in barrels for several years, following industry practice; all barreled whiskey and bourbon is classified as a current asset. The Company includes warehousing, insurance, and other carrying charges applicable to barreled whiskey in inventory costs. Inventories are stated at the lower of cost or market on the first-in, first-out ("FIFO") method. Inventory valuations are impacted by constantly changing prices paid for key materials, primarily corn. Inventory consists of the following: September 30, December 31, Finished goods $ 15,674 $ 10,039 Barreled distillate 21,063 11,114 Work in process 1,910 2,023 Raw materials 6,412 5,440 Maintenance materials 5,305 4,913 Other 1,844 912 Total $ 52,208 $ 34,441 Equity Method Investments The Company accounts for equity investments under the equity method of accounting when the Company has significant influence, but does not have more than 50 percent voting control. Under the equity method of accounting, the Company reflects such investments within the Company’s Condensed Consolidated Balance Sheets in Equity method investments ; the Company’s share of the earnings or losses of equity method investments are reflected as Equity method investment earnings in the Condensed Consolidated Statements of Comprehensive Income. The Company reviews its equity method investments for impairment whenever events or changes in business circumstances indicate that the carrying amount of the equity method investments may not be fully recoverable. Evidence of a loss in value that is other than temporary include, but are not limited to, the absence of an ability to recover the carrying amount of the investment, the inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment, or, where applicable, estimated sales proceeds which are insufficient to recover the carrying amount of the investment. If the fair value of the equity method investment is determined to be less than the carrying value and the decline in value is considered to be other than temporary, an appropriate write-down is recorded based on the excess of the carrying value over the best estimate of fair value of the investment less disposal costs. Revenue Recognition Except as discussed below, revenue from the sale of the Company’s products is recognized as products are delivered to customers according to shipping terms and when title and risk of loss have transferred. Income from various government incentive programs is recognized as it is earned. The Company’s distillery segment produces unaged distillate and this product is frequently barreled and warehoused at a Company location for an extended period of time in accordance with directions received from the Company’s customers. This product must meet customer acceptance specifications, the risks of ownership and title for these goods must be passed to the Company’s customers, and requirements for bill and hold revenue recognition must be met prior to the Company recognizing revenue for this product. Warehouse agreements are maintained for customers who store their product with the Company, and warehouse revenues are recognized as the service is provided. Customer-paid freight costs are included in Sales and were $3,138 and $3,237 for the quarters ended September 30, 2015 and 2014 , respectively, and $10,088 and $10,400 for the year to date periods ended September 30, 2015 and 2014 , respectively. Recognition of Insurance Recoveries Estimated loss contingencies are recognized as charges to income when they are probable and reasonably estimable. Insurance recoveries are not recognized until all contingencies related to the insurance claim have been resolved and settlement has been reached with the insurer. Insurance recoveries related to interruption of business, net of related out-of-pocket expenses, are reported as a reduction to Cost of sales on the Condensed Consolidated Statements of Comprehensive Income. Insurance recoveries related to property damage, in excess of related costs and losses, if any, are included in Insurance recoveries on the Condensed Consolidated Statements of Comprehensive Income. Income Taxes The Company accounts for income taxes using an asset and liability method which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Evaluating the need for, and amount of, a valuation allowance for deferred tax assets often requires significant judgment and extensive analysis of all available evidence on a jurisdiction-by-jurisdiction basis. Such judgments require the Company to interpret existing tax law and other published guidance as applied to the Company's circumstances. As part of this assessment, the Company considers both positive and negative evidence about its profitability and tax situation. A valuation allowance is recognized if it is more likely than not that at least some portion of the deferred tax asset will not be realized. Accounting for uncertainty in income tax positions requires management judgment and the use of estimates in determining whether the impact of a tax position is "more likely than not" of being sustained. The Company considers many factors when evaluating and estimating its tax positions, which may require periodic adjustment and which may not accurately anticipate actual outcomes. It is possible that amounts reserved for potential exposure could change as a result of the conclusion of tax examinations and, accordingly, materially affect the Company’s reported net income after tax. Earnings per Share Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends and dividend equivalents declared and participation rights in undistributed earnings. Per share amounts are computed by dividing net income from continuing operations attributable to common shareholders by the weighted average shares outstanding during the period. Impairment of Long-lived Assets The Company tests its long-lived assets and instruments for impairment whenever events or conditions and circumstances indicate a carrying amount of an asset may not be recoverable. No events or conditions occurred during the quarter or year to date periods ended September 30, 2015 that required the Company to test its long-lived assets for impairment. Fair Value Measurements The fair value of an asset is considered to be the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Accounting guidance also establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The fair value hierarchy gives the highest priority to quoted market prices (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of inputs used to measure fair value are as follows: • Level 1 - quoted prices in active markets for identical assets or liabilities accessible by the reporting entity. • Level 2 - observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 - unobservable inputs for an asset or liability. Unobservable inputs should only be used to the extent observable inputs are not available. The Company’s short-term financial instruments include cash and cash equivalents, accounts receivable and accounts payable. The carrying value of the short term financial instruments approximates the fair value due to their short-term nature. These financial instruments have no stated maturities or the financial instruments have short-term maturities that approximate market. The fair value of the Company’s debt is estimated based on current market interest rates for debt with similar maturities and credit quality. The fair values of the Company’s debt were $28,415 and $10,297 at September 30, 2015 and December 31, 2014 , respectively. These fair values are considered Level 2 under the fair value hierarchy. The financial statement carrying values of the Company's debt were $28,813 and $10,283 at September 30, 2015 and December 31, 2014 , respectively. Dividends and Dividend Equivalents On February 27, 2015, the Board of Directors declared a dividend payable to stockholders of record as of March 26, 2015, of the Company's common stock, no par value ("Common Stock"), and a dividend equivalent payable to holders of restricted stock units ("RSUs") as of March 26, 2015, of six cents per share and per unit. The total payment of $1,087 , comprised of dividend payments of $1,061 and dividend equivalent payments, net of estimated forfeitures, of $26 , was paid on April 21, 2015. On February 28, 2014, the Board of Directors declared a dividend payable to stockholders of record as of March 17, 2014, of the Company's Common Stock and a dividend equivalent payable to holders of RSUs as of March 17, 2014, of five cents per share and per unit. The total payment of $907 , comprised of dividend payments of $884 and dividend equivalent payments, net of estimated forfeitures, of $23 , was paid on April 9, 2014. Credit Agreement On February 27, 2015, the Company, as a guarantor and a party, and its subsidiaries, MGPI Processing, Inc., MGPI Pipeline, Inc., and MGPI of Indiana, LLC, as the borrowers, entered into a five -year, $80,000 credit agreement pursuant to a Second Amended and Restated Credit Agreement and associated schedules (the "Restated Credit Agreement") with Wells Fargo Bank, National Association, as Administrative Agent (the "Agent"). The Restated Credit Agreement amended and restated the Company’s former revolving credit facility under the Amended and Restated Credit Agreement between the Company and Wells Fargo Bank, National Association, as Lender, dated November 2, 2012, as amended. The Restated Credit Agreement differs from the Company’s prior credit agreement by (i) increasing amount available under the credit facility to $80,000 , (ii) extending the maturity date to February 27, 2020, (iii) providing for the addition of U.S. Bank, National Association, as a lender, and (iv) reducing certain interest rates, and (v) incorporating other modifications consistent with the increase in the loan amount and to reflect Wells Fargo’s status as the Agent. The Company incurred new loan fees related to the Restated Credit Amendment of $348 during the year to date period ended September 30, 2015 . The unamortized balance of total loan fees related to the Restated Credit Amendment was $675 at September 30, 2015 and is included in Other Assets on the Condensed Consolidated Balance Sheets. The loan fees are being amortized over the life of the Restated Credit Agreement. As of and for the quarter and year to date period ended September 30, 2015 , the Company was in compliance with the Restated Credit Agreement’s financial covenants and other restrictions. The amount of borrowings which the Company may make is subject to borrowing base limitations adjusted for the Fixed Asset Sub-Line collateral. Due to limitations generally based on the value of eligible inventory and accounts receivable owned by the Borrowers as defined in the Restated Credit Agreement, our current borrowing capacity is $59,955 . As of September 30, 2015 , the Company's total outstanding borrowings under the credit facility were $26,405 , comprised of $19,901 of revolver borrowing and $6,504 of fixed asset sub-line term loan borrowing, leaving $33,550 available for additional borrowings. The average interest rate for total borrowings of the Restated Credit Agreement at September 30, 2015 was 3.04 percent . New Accounting Pronouncements In September 2015 the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments , which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. The ASU is effective for public business entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory (Topic 330) , which simplifies its current requirement that an entity measure inventory at lower of cost or market, when market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. Inventory within the scope of ASU 2015-11 should be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. ASU 2015-11 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The Company is evaluating the effect that ASU 2015-11 will have on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) , which simplifies the presentation of debt issuance costs. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015 (and interim periods within those fiscal years) with early adoption permitted and retrospective application required. The Company is evaluating the effect that ASU 2015-03 will have on its consolidated financial statements and related disclosures. On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. At its July 9, 2015 meeting, the FASB agreed to defer by one year the mandatory effective date of its revenue recognition standard, but will also provide entities the option to adopt it as of the original effective date (ASU No. 2015-14). The new standard has a mandatory adoption date for the Company of January 1, 2018. Early adoption is permitted at January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09, updated to ASU 2015-14, will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Equity Method Investments

Equity Method Investments	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments. As of September 30, 2015 , the Company’s investments that are accounted for using the equity method of accounting consisted of the following: (1) 30 percent interest in ICP, which manufactures alcohol for fuel, industrial and beverage applications, and (2) 50 percent interest in D.M. Ingredients, GmbH, ("DMI"), which produced certain specialty starch and protein ingredients until June 30, 2015 (see DMI discussion below). On April 9, 2015, ICP obtained a $30,000 revolving credit facility with JPMorgan Chase Bank, N.A., which could be increased in the future by an additional $20,000 , subject to lender approval. The revolver matures on April 9, 2018. Simultaneous with the execution of the new revolving credit facility, ICP terminated its $15,000 amended and restated revolving credit facility with an affiliate of SEACOR, which would have matured January 31, 2016. The Company has no funding requirement to ICP. During the quarter ended June 30, 2014, management reassessed the most likely events that would result in a recovery of its investment in ICP and, as a result, the Company remeasured its cumulative equity in the undistributed earnings of ICP. The cumulative effect of this change in estimate resulted in a decrease in equity method investment earnings of ICP of $1,882 for the period beginning April 1, 2013 and ending March 31, 2014; a decrease in the earnings per share of $0.10 per share for the year to date period ended September 30, 2014 ; and a decrease in the related equity method investment in ICP at September 30, 2014 , of $1,882 . On December 29, 2014, the Company gave notice to DMI and to the Company's partner in DMI, Crespel and Dieters GmbH & Co. KG ("C&D"), to terminate the joint venture effective June 30, 2015. C&D also provided notice to terminate DMI effective June 30, 2015. On June 22, 2015, a termination agreement was executed by and between the Company, DMI, and C&D to dissolve DMI effective June 30, 2015. Additionally, on June 22, 2015 a termination agreement was executed by and between the Company and DMI to terminate their distribution agreement effective June 29, 2015. Under German law, commencing on June 30, 2015, normal operations for DMI ceased and a one -year winding down process began. Realizability of DMI Investment Due to the termination agreement signed on June 22, 2015, to terminate the Company's DMI joint venture effective June 30, 2016 that is previously described, the Company reclassified its pre-tax DMI translation adjustment of $81 ( $45 , net of tax) from accumulated other comprehensive loss into equity method investment loss that is reflected in Equity method investment earnings in the Condensed Consolidated Statements of Comprehensive Income for the year to date period ended September 30, 2015 . Also due to the June 22, 2015 agreement, the Company assessed the recoverability of its investment in DMI at September 30, 2015 of $384 . The Company determined that DMI's financial results for the quarter ended June 30, 2015 reflected all foreseen adjustments resulting from the termination agreement. DMI is currently within the one -year winding down process as above described. Since operations ceased at June 30, 2015, there have been no updated financial results or other communications impacting the valuation of DMI assets reported by DMI. By recording in Equity method investment earnings in the Condensed Consolidated Statements of Comprehensive Income, the pre-tax foreign currency translation adjustment, as well as the Company's 50 percent portion of DMI's equity method investment losses, totaling $110 for the year to date period ended September 30, 2015 , the Company's investment in DMI is appropriately reflected at the estimated fair value of the DMI investment at September 30, 2015 . Summary Financial Information (unaudited) Condensed financial information related to the Company’s non-consolidated equity method investment in ICP is shown below. Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, ICP’s Operating results: Net sales (a) $ 40,281 $ 53,813 $ 128,250 $ 185,460 Cost of sales and expenses (b) 35,072 48,467 107,851 155,214 Net income $ 5,209 $ 5,346 $ 20,399 (c) $ 30,246 (a) Includes related party sales to MGPI of $8,680 and $9,287 for the quarters ended September 30, 2015 and 2014 , respectively, and $27,195 and $23,905 for the year to date periods ended September 30, 2015 and 2014 , respectively. (b) Includes depreciation and amortization of $662 and $738 for the quarters ended September 30, 2015 and 2014 , respectively, and depreciation and amortization of $1,987 and $2,100 . (c) Includes business interruption insurance proceeds of $4,112 for the year to date period ended September 30, 2015 . The Company’s equity method investment earnings (loss) from joint ventures, based on unaudited financial statements, is as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, ICP (30% interest) $ 1,562 $ 1,604 $ 6,120 (a) $ 7,192 DMI (50% interest) — 17 (110 ) (b) 95 $ 1,562 $ 1,621 $ 6,010 $ 7,287 (a) Earnings include business interruption insurance proceeds of $1,230 ( $4,112 x 30% interest) for the year to date period ended September 30, 2015 . (b) Loss includes $81 pre-tax foreign currency translation adjustment for the year to date period ended September 30, 2015 discussed above in Realizability of DMI Investment . The Company’s investment in joint ventures is as follows: September 30, December 31, ICP (30% interest) $ 18,043 (a) $ 11,924 DMI (50% interest) 384 (b) 449 $ 18,427 $ 12,373 (a) Includes effect of business interruption insurance proceeds on ICP earnings of $1,230 ( $4,112 x 30% interest) for the year to date period ended September 30, 2015 . (b) Includes effect of $81 pre-tax foreign currency translation adjustment on DMI loss for the year to date period ended September 30, 2015 discussed above in Realizability of DMI Investment .

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share. The computations of basic and diluted earnings per share are as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Operations: Net operating income (a) $ 6,771 $ 6,228 $ 19,712 $ 16,112 Less: Amounts allocated to participating securities (nonvested shares and units) (b) 222 268 653 692 Net income attributable to common shareholders $ 6,549 $ 5,960 $ 19,059 $ 15,420 Share information: Basic weighted average common shares (c)(d) 17,154,303 17,334,330 17,315,890 17,286,258 Incremental shares from potential dilutive securities (e) 769 229 759 — Diluted weighted average common shares 17,155,072 17,334,559 17,316,649 17,286,258 Basic and diluted earnings per share $ 0.38 $ 0.34 $ 1.10 $ 0.89 (a) Net operating income attributable to all shareholders. (b) Participating securities include 128,500 and 301,598 nonvested restricted shares at September 30, 2015 and 2014 , respectively. (c) Under the two-class method, basic weighted average common shares exclude outstanding nonvested, participating securities consisting of restricted share awards of 128,500 and 301,598 at September 30, 2015 and 2014 , respectively. (d) Basic weighted average common shares were affected by the September 1, 2015, purchase of 950,000 shares of common stock in a privately-negotiated transaction with F2 SEA, Inc., an affiliate of SEACOR Holdings, Inc. pursuant to a Stock Repurchase Agreement. SEACOR Holdings, Inc. is the 70 percent owner of ICP, the Company's 30 percent equity method investment. (e) Anti-dilutive shares related to stock options totaled 0 and 6,000 for the quarters ended September 30, 2015 and 2014 , respectively, and 0 and 8,667 for the year to date periods ended September 30, 2015 and 2014 . There were dilutive shares related to stock options totaling 4,000 and 4,000 for the quarters ended September 30, 2015 and 2014 , respectively, and 4,000 and 1,333 for the year to date periods ended September 30, 2015 and 2014 , respectively. The dilutive shares resulted in potential dilutive securities of 769 and 229 for the quarters ended September 30, 2015 and 2014 , respectively, and 759 and 0 for the year to date periods ended September 30, 2015 and 2014 , respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies. Commitments The Company has separate supply agreements to purchase its grain requirements for its Lawrenceburg and Atchison facilities, each with a single supplier. These supply agreements expire December 31, 2017 . At September 30, 2015 , the Company had total commitments to purchase grain to be used in operations through December 2016 totaling $34,613 . The Company has commitments to purchase natural gas at fixed prices and various dates through September 2016 . The commitment for these contracts at September 30, 2015 totaled $8,375 . The Company has a supply agreement for flour used in the production of protein and starch ingredients. At September 30, 2015 , the Company had purchase commitments aggregating $16,465 through December 2016 . As of September 30, 2015 , the Company had commitments to acquire capital assets totaling $6,042 . For the year to date period ended September 30, 2015 , we made $22,262 of capital investments, of which $20,043 was a use of cash and $2,219 remained payable at September 30, 2015 . Contingencies There are various legal proceedings involving the Company and its subsidiaries. Management believes that the aggregate liabilities, if any, arising from such actions would not have a material adverse effect on the consolidated financial position or overall trends in results of operations of the Company.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In the quarter ended September 30, 2015 , the Company evaluated the potential realization of its deferred income tax assets. The Company recorded deferred tax assets related to certain state income tax benefits of $3,829 as of December 31, 2014 that had been reduced by a valuation allowance. Evaluating the need for, and amount of, a valuation allowance for deferred tax assets often requires significant judgment and extensive analysis of all available evidence on a jurisdiction-by-jurisdiction basis. Such judgments require the Company to interpret existing tax law and other published guidance as applied to its circumstances. As part of this assessment, the Company considers both positive and negative evidence. The weight given to the potential effect of positive and negative evidence must be commensurate with the extent to which the strength of the evidence can be objectively verified. The Company generally considers the following, among other, objectively verified evidence to determine the likelihood of realization of the deferred tax assets: • The Company's current financial position and its historical results of operations for recent years. The Company generally considers cumulative pre-tax losses in the three-year period ending with the current quarter to be significant negative evidence regarding its future profitability. A pattern of objectively-measured recent financial reporting losses is heavily weighted as a source of negative evidence when relying upon projections of future taxable income to recover deferred tax assets. The Company also considers the historical and current financial trends in the recent years. • Sources of taxable income of the appropriate character. Future realization of deferred tax assets is dependent on projected taxable income of the appropriate character from its continuing operations. Future reversals of existing temporary differences are heavily weighted sources of objectively verifiable positive evidence. Projections of future taxable income exclusive of reversing temporary differences are a source of positive evidence only when the projections are combined with a history of recent profits and current financial trends and can be reasonably estimated. • Carryback and carryforward periods available. The long carryback and carryforward periods permitted under the tax law are objectively verified positive evidence. • Tax planning strategies. Tax planning strategies can be, depending on their nature, heavily-weighted sources of objectively verifiable positive evidence when the strategies are available and can be reasonably executed. The Company considers tax planning strategies only if they are feasible and justifiable considering its current operations and its strategic plan. Tax planning strategies, if executed, may accelerate the recovery of a deferred tax asset so the tax benefit of the deferred tax asset can be carried back. After evaluating positive and negative evidence available as of September 30, 2015 , the Company determined that it is more likely than not that it will realize a portion of its deferred tax assets related to certain state income tax benefits that previously had a 100 percent valuation allowance recorded. The Company’s cumulative income history and projections of future taxable income supported an assessment that a portion of these recorded deferred tax assets are more likely than not to be recoverable. The Company recorded an income tax benefit of $1,908 for the year to date period ended September 30, 2015 for the portion of the change in valuation allowance arising from expected realization of certain state deferred tax assets in future periods. For the comparable year to date period ended September 30, 2014, the Company recorded an income tax benefit of $1,215 for the portion of the change in valuation allowance arising from expected realization of deferred tax assets in future years. The Company also released $5,855 of valuation allowance related to the tax effects of income generated in the year to date period ended September 30, 2014, resulting in no net impact to the income tax provision. The effective tax rate for the quarter and the year to date periods ended September 30, 2015 was 13.3 percent and 30.6 percent , respectively, which was impacted by the release of the valuation allowance. The income tax expense of $1,042 recorded for the quarter ended September 30, 2015 includes the release of $1,908 of valuation allowance arising from expected realization of deferred tax assets in future years. The income tax expense for the year to date period ended September 30, 2015 was $8,700 . For the comparable quarter and year to date periods ended September 30, 2014, the effective tax rate was (23.1) percent and (6.6) percent , respectively, after consideration of utilization of certain deferred tax assets, primarily net operating loss carry forwards and the related impact due to the release of the valuation allowance. The income tax benefit of $1,169 recorded for the quarter ended September 30, 2014 primarily related to the release of $1,215 of valuation allowance arising from expected realization of net deferred tax assets in future years. The income tax benefit for the year to date period ended September 30, 2014 was $1,002 .

Property and Business Interrupt

Property and Business Interruption Insurance Claims and Recoveries	9 Months Ended
	Sep. 30, 2015
Extraordinary and Unusual Items [Abstract]
Property and Business Interruption Insurance Claims and Recoveries	Property and Business Interruption Insurance Claims and Recoveries During October 2014, the Company experienced a fire at its Atchison facility. Certain equipment in the facility's feed drying operations was damaged, but repairable, and the Company experienced a seven -day temporary loss of production. The Company reached final settlement with its insurance carrier to close this claim during the quarter ended March 31, 2015, and received $460 of insurance proceeds reflected as a net reduction to Cost of Sales on the Condensed Consolidated Statements of Comprehensive Income for the year to date period ended September 30, 2015 . During January 2014, the Company experienced a fire at its Lawrenceburg facility. The fire damaged certain equipment in the feed dryer house and caused a temporary loss of production. The fire did not impact the Company's own or customer-owned warehoused inventory. By the end of February the plant was at pre-fire production levels. During the quarter and year to date period ended September 30, 2014 , the Company received $2,058 and $2,308 of insurance proceeds, respectively. Insurance proceeds related to business interruption for the quarter and year to date period ended September 30, 2014 of $765 and $925 , respectively, net of out-of-pocket expenses of $118 and $328 , respectively, are reported as a net reduction to Cost of Sales of $647 and $597 , respectively, on the Condensed Consolidated Statements of Comprehensive Income. Insurance proceeds related to property damage for the quarter and year to date period of $1,293 and $1,383 , respectively, net of the book value property loss of $0 and $160 , respectively, are reported as Insurance recoveries of $1,293 and $1,223 , respectively, on the Condensed Consolidated Statements of Comprehensive Income. Detail of the activities related to the property and business interruption insurance claims and recoveries and where the net impacts are recorded on the Condensed Consolidated Statements of Comprehensive Income is as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Total insurance recoveries $ — $ 2,058 $ 460 $ 2,308 Insurance recoveries - interruption of business $ — $ 765 $ 460 $ 925 Less: out-of-pocket expenses related to interruption of business in Cost of Sales — 118 — 328 Net reduction to Cost of sales $ — $ 647 $ 460 $ 597 Insurance recoveries - property damage $ — $ 1,293 $ — $ 1,383 Less: Net book value of property loss in insurance recoveries — — — 160 Insurance recoveries $ — $ 1,293 $ — $ 1,223

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments. Certain commodities the Company uses in its production process are exposed to market price volatility. The Company's grain supply agreements for its Lawrenceburg and Atchison facilities permit the Company to purchase corn for delivery up to 12 months into the future, at negotiated prices. The pricing for contracts is based on a formula using several factors. The Company has determined that the firm commitments to purchase corn under the terms of the agreements meet the normal purchases and sales exception as defined under Accounting Standards Codification ("ASC") 815, Derivatives and Hedging , and has excluded the fair value of these commitments from recognition within its condensed consolidated financial statements until the actual contracts are physically settled. The Company’s production process also uses flour and natural gas. The contracts for flour and natural gas range from monthly contracts to multi-year supply arrangements; however, because the quantities involved have always been for amounts to be consumed within the normal expected production process, the Company has determined that the contracts meet the criteria for the normal purchases and sales exception and have excluded the fair value of these commitments from recognition within its condensed consolidated financial statements until the actual contracts are physically settled. See Note 4. Commitments and Contingencies for a discussion of the Company’s corn, flour and natural gas purchase commitments.

Operating Segments

Operating Segments	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Operating Segments	Operating Segments. The Company’s operations are classified into two reportable segments: distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol, along with fuel grade alcohol, distillers feed, and corn oil, which are co-products of the Company’s food grade alcohol operations. Ingredient solutions consists of specialty starches and proteins, commodity starch, and commodity protein. The following table provides operating profit for each segment based on net sales less identifiable operating expenses. Non-direct selling, general and administrative, interest expense, investment income and other general miscellaneous expenses have been excluded from segment operations and classified as Corporate. The Company’s management reporting does not assign or allocate special charges to the Company’s operating segments. Receivables, inventories and equipment have been identified with the segments to which they relate. All other assets are considered Corporate. Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Net Sales to Customers Distillery products $ 66,713 $ 63,700 $ 201,542 $ 194,035 Ingredient solutions 13,615 13,815 44,553 43,043 Total 80,328 77,515 246,095 237,078 Depreciation and Amortization Distillery products 2,219 2,133 6,603 6,334 Ingredient solutions 514 578 1,627 1,739 Corporate 343 382 1,030 1,129 Total 3,076 3,093 9,260 9,202 Income (Loss) before Income Taxes Distillery products 9,992 6,547 34,492 17,963 Ingredient solutions 1,002 1,082 5,713 2,828 Corporate (3,181 ) (2,570 ) (11,793 ) (5,681 ) Total $ 7,813 $ 5,059 $ 28,412 $ 15,110 The following table allocates assets to each segment: As of September 30, 2015 As of December 31, 2014 Identifiable Assets Distillery products $ 128,673 $ 98,791 Ingredient solutions 23,571 23,324 Corporate 37,151 38,484 Total $ 189,395 $ 160,599

Employee and Non-Employee Benef

Employee and Non-Employee Benefit Plans	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee and Non-Employee Benefit Plans	Employee and Non-Employee Benefit Plans. Post Employment Benefits. The Company and its subsidiaries provide certain post-employment health care and life insurance benefits to certain retired employees. The liability for such benefits is unfunded. The components of the Net Periodic Benefit Cost/Income for the quarter and year to date periods ended September 30, 2015 and 2014 , respectively, are as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Service cost $ 13 $ 14 $ 39 $ 58 Interest cost 35 34 105 116 Prior service cost recognized due to current curtailment — — — (52 ) Amortization of net actuarial loss 70 7 209 12 Amortization of prior service cost (85 ) (66 ) (254 ) (305 ) Total post-retirement benefit cost / (income) $ 33 $ (11 ) $ 99 $ (171 ) The Company disclosed in its financial statements for the year ended December 31, 2014 , amounts expected to be paid to plan participants. There have been no revisions to these estimates and there have been no changes in the estimate of total employer contributions expected to be made for the year ended December 31, 2015 . The Company reclassified $45 of prior service cost and net actuarial loss from accumulated other comprehensive loss into post-retirement benefit cost for the year to date period ended September 30, 2015 , and $345 of prior service cost and net actuarial loss from accumulated other comprehensive income into post-retirement benefit cost for the year to date period ended September 30, 2014 . Total employer contributions accrued for the quarter ended September 30, 2015 were $114 . In October 2015, the Society of Actuaries released an update ("MP-2015") to its reports of the pension plan RP-2014 Mortality Tables and the Mortality Improvement Scale MP-2014. The impact of this update in assumed mortality on post-employment benefits liability is being evaluated by the Company and will be appropriately recognized in the quarter and year ended December 31, 2015. Pension Benefits. The Company and its subsidiaries provided defined retirement benefits to certain employees covered under collective bargaining agreements. Under the collective bargaining agreements, the Company’s pension funding contributions were determined as a percentage of wages paid. The funding was divided between the defined benefit plans and a union 401(k) plan. It was management’s policy to fund the defined benefit plans in accordance with the collective bargaining agreements. The collective bargaining agreements allowed the plans’ trustees to develop changes to the pension plans to allow benefits to match funding, including reductions in benefits. The benefits under these pension plans were based upon years of qualified credited service; however, benefit accruals under the defined benefit plans were frozen in 2009. In April 2015, the Company received approval from the Pension Benefit Guaranty Corporation to terminate the pension plans for employees covered under collective bargaining agreements. The funding by the Company to terminate the plans was $741 and was recognized when the pension plan settlement was fully executed, in the quarter ended June 30, 2015. The components of the Net Periodic Benefit Cost for the quarter and year to date periods ended September 30, 2015 and 2014 , respectively, are as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Interest cost $ — $ 22 $ 36 $ 66 Expected return on plan assets — (26 ) (45 ) (78 ) Recognition of net loss — 5 25 15 Loss incurred in current year — — (35 ) — Settlement costs — — 414 — Total pension benefit cost $ — $ 1 $ 395 $ 3 The Company reclassified $404 ( $243 , net of tax) and $15 of accumulated other comprehensive loss into pension benefit cost for the year to date periods ended September 30, 2015 and 2014 , respectively. The pre-tax reclassification of $404 for the year to date period ended September 30, 2015 was related to the termination and final funding of the Company's pension plans for employees covered under collective bargaining agreements. All employer contributions were paid to participants of the plan as part of the plan's termination prior to September 30, 2015 , which reduced the balance in Other Current Liabilities on the Condensed Consolidated Balance Sheets to $0 at September 30, 2015 . As a result of the plan termination, there is no remaining or continuing obligation by the Company to the plan after the quarter ended September 30, 2015 . The employer contributions to the Company's union 401(k) plan were $117 for the quarter ended September 30, 2015 . Equity-Based Compensation Plans . As of September 30, 2015 , the Company was authorized to issue 40,000,000 shares of Common Stock. The Company’s equity-based compensation plans provide for the awarding of stock options, stock appreciation rights, shares of restricted stock ("Restricted Stock"), and RSUs for senior executives and salaried employees as well as non-employee directors. As discussed in the Company's report on Form 10-K for the year ended December 31, 2014, the Company currently has two active equity-based compensation plans: the Employee Equity Incentive Plan of 2014 (the "2014 Plan") and the Non-Employee Director Equity Incentive Plan (the "Directors' Plan"). The plans were approved by shareholders at the Company's annual meeting in May 2014. The 2014 Plan had 1,500,000 shares registered for future grants and replaced the Stock Incentive Plan of 2004 (the "2004 Plan"), although the 2004 Plan had a remaining balance of 128,500 nonvested outstanding awards at September 30, 2015 . The Directors' Plan had 300,000 shares registered for future grants and replaced the Stock Option Plan for Outside Directors (the "Directors' Option Plan") and the Non-Employee Directors' Restricted Stock Plan (the "Directors' Stock Plan"), although the Directors' Option Plan had vested but unexercised awards for 4,000 shares outstanding at September 30, 2015 . At the May 2014 annual meeting, shareholders also approved an Employee Stock Purchase Plan ("ESPP") with 300,000 shares registered for employee purchase. At September 30, 2015 this ESPP was not active. The 2014 Plan provides that vesting occurs pursuant to the time period specified in the particular award agreement approved for that issuance of RSUs, which is not less than three years unless vesting is accelerated due to the occurrence of certain events. The compensation expense related to awards granted under the 2014 Plan during calendar year 2014 and early calendar 2015 is based on the market price of the stock on the date the Board of Directors approved the grant and is being amortized over the service vesting period of the award. In February 2015 the Board of Directors approved a requirement that certain Company performance metrics be met in order for awards to be granted under the 2014 Plan. The compensation expense related to awards granted under the 2014 Plan after February 2015 is based on the market price of the stock on the date the Board of Directors approves the grant and is amortized over the performance and service vesting period of the award. As of September 30, 2015 , 101,702 RSUs had been granted under the 2014 Plan, with 6,256 of those forfeited for termination of employment. The Directors' Plan provides that vesting occurs pursuant to the time period specified in the particular award agreement approved for that issuance, which is not less than one year unless vesting is accelerated due to the occurrence of certain events. As of September 30, 2015 , 31,983 shares had been granted related to the Directors' Plan. The compensation expense related to awards granted under the Directors' Plan is based on the closing market price of the Company's stock on the day before the award. As of September 30, 2015 , 561,446 shares of Restricted Stock and RSUs were outstanding under the Company’s active and inactive long-term incentive plans. On May 28, 2015, the Company terminated the employment of its Vice President of Finance and Chief Financial Officer ("CFO"). Pursuant to the Separation Agreement and Release between the Company and its CFO, consideration upon termination included the vesting at May 28, 2015, of 13,585 shares of Restricted Stock originally granted on August 26, 2010, at a cost of $231 , which is reflected in Selling, general and administrative expenses on the Condensed Consolidated Statements of Comprehensive Income and Treasury stock, at cost on the Condensed Consolidated Balance Sheets. Additional consideration upon termination included severance costs detailed in Note 10. Severance Costs . On June 23, 2015, the Company announced that Randall M. Schrick, its Vice President of Production and Engineering, intends to retire effective December 31, 2015. Mr. Schrick will provide consulting services to the Company, as needed, under the terms of a consulting agreement entered into with the Company on June 23, 2015, and amended on September 1, 2015 (the "Consulting Agreement"). The initial term of the Consulting Agreement is January 1, 2016, to December 31, 2018, and, under the Consulting Agreement, Mr. Schrick will provide consulting with respect to such business matters as he previously provided services as an employee. During the term of the Consulting Agreement and for an 18-month period thereafter, Mr. Schrick will be subject to customary noncompetition, customer and supplier nonsolicitation and employee nonsolicitation restrictions. In recognition of Mr. Schrick's service, the Company has elected to continue the vesting of his shares of Restricted Stock and RSUs on their original vesting schedules, which extends beyond Mr. Schrick's intended retirement date. The Company determined that this announcement resulted in a modification of Mr. Schrick's unvested equity awards. Accordingly, the recognition of the remaining associated compensation expense of $195 is to be accelerated and fully recognized over the period beginning with the measurement date of the modification, June 23, 2015, through December 31, 2015, Mr. Schrick's intended retirement date. Associated compensation expense is reflected in Selling, general and administrative expenses on the Condensed Consolidated Statements of Comprehensive Income. Mr. Schrick's unvested awards on the modification date were 16,500 shares of Restricted Stock and 29,941 RSUs. Stock Repurchase On September 1, 2015, the Company's Board of Directors authorized the purchase of 950,000 shares of the Company's common stock in a privately-negotiated transaction with F2 SEA, Inc., an affiliate of SEACOR Holdings, Inc. pursuant to a Stock Repurchase Agreement. SEACOR Holdings, Inc. is the 70 percent owner of ICP, the Company's 30 percent equity method investment. The Company paid $15.25 (fifteen dollars and twenty-five cents) per share repurchased, which was the negotiated price on the September 1, 2015 sale date. Aggregate consideration for the shares purchased was $14,488 and is reflected in Treasury Stock, at cost on the Condensed Consolidated Balance Sheets at September 30, 2015 . On February 27, 2015, the Company's Board of Directors authorized the purchase of up to $3,500 of its common stock. Pursuant to the authorization, the Company is permitted to purchase its own shares from time to time on the open market or in privately-negotiated transactions. The above-described purchase of 950,000 shares on September 1, 2015, was not part of this authorization.

Severance Costs

Severance Costs	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Severance Costs	Severance Costs On December 3, 2013, the Company entered into a settlement agreement, pursuant to which the Company terminated the employment of its then-Chief Executive Officer and President ("CEO"). In connection with the settlement agreement, the Company agreed to pay severance and transition services costs, exclusive of out-of-pocket expenses, totaling $915 . During the quarter and year to date periods ended September 30, 2014 , $104 and $301 , respectively, of the total severance and transition services amount was paid to the former CEO. Certain other members of management were terminated in 2014 that are included in the Provision for additional expense and Payments and adjustments detailed in the following table for the quarter and year to date periods ended September 30, 2014 . On May 28, 2015, the Company terminated the employment of its CFO. Pursuant to the Separation Agreement and Release between the Company and its CFO, related termination costs to the Company totaled $941 , including the pro-rata grant of Restricted Stock discussed in Note 9. Employee and Non-Employee Benefit Plans . For the year to date period ended September 30, 2015 , severance costs related to the CFO's termination included in Selling, general and administrative expenses on the Condensed Consolidated Statements of Comprehensive Income, not including the grant of restricted stock, were $710 and the related accrual for the unpaid portion of $346 was included in Accrued expenses on the Condensed Consolidated Balance Sheets at September 30, 2015 . Activity related to severance costs for the quarter and year to date periods ended September 30, 2015 and 2014 was as follows: Quarter Ended Year to Date Ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Balance at beginning of period $ 699 $ 547 $ 89 $ 1,142 Provision for additional expense — — 722 313 Payments and adjustments (355 ) (313 ) (467 ) (1,221 ) Balance at end of period $ 344 $ 234 $ 344 $ 234 Severance costs are included in Selling, general and administrative expenses on the Condensed Consolidated Statements of Comprehensive Income and the related accrual is included in Accrued expenses on the Condensed Consolidated Balance Sheets.

Accounting Policies and Basis18

Accounting Policies and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements of the Company reflect all adjustments (consisting only of normal adjustments) which, in the opinion of the Company’s management, are necessary to fairly present the financial position, results of operations and cash flows of the Company. All intercompany balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements as of and for the year to date period ended September 30, 2015 should be read in conjunction with the consolidated financial statements and notes thereto in the Company’s Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission ("SEC"). The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Inventory	Inventory Inventory includes finished goods, barreled distillate, raw materials in the form of agricultural commodities used in the production process, work in process, and certain maintenance and repair items. Whiskey and bourbon must be aged in barrels for several years, following industry practice; all barreled whiskey and bourbon is classified as a current asset. The Company includes warehousing, insurance, and other carrying charges applicable to barreled whiskey in inventory costs. Inventories are stated at the lower of cost or market on the first-in, first-out ("FIFO") method.
Equity Method Investments	Equity Method Investments The Company accounts for equity investments under the equity method of accounting when the Company has significant influence, but does not have more than 50 percent voting control. Under the equity method of accounting, the Company reflects such investments within the Company’s Condensed Consolidated Balance Sheets in Equity method investments ; the Company’s share of the earnings or losses of equity method investments are reflected as Equity method investment earnings in the Condensed Consolidated Statements of Comprehensive Income. The Company reviews its equity method investments for impairment whenever events or changes in business circumstances indicate that the carrying amount of the equity method investments may not be fully recoverable. Evidence of a loss in value that is other than temporary include, but are not limited to, the absence of an ability to recover the carrying amount of the investment, the inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment, or, where applicable, estimated sales proceeds which are insufficient to recover the carrying amount of the investment. If the fair value of the equity method investment is determined to be less than the carrying value and the decline in value is considered to be other than temporary, an appropriate write-down is recorded based on the excess of the carrying value over the best estimate of fair value of the investment less disposal costs.
Revenue Recognition	Revenue Recognition Except as discussed below, revenue from the sale of the Company’s products is recognized as products are delivered to customers according to shipping terms and when title and risk of loss have transferred. Income from various government incentive programs is recognized as it is earned. The Company’s distillery segment produces unaged distillate and this product is frequently barreled and warehoused at a Company location for an extended period of time in accordance with directions received from the Company’s customers. This product must meet customer acceptance specifications, the risks of ownership and title for these goods must be passed to the Company’s customers, and requirements for bill and hold revenue recognition must be met prior to the Company recognizing revenue for this product. Warehouse agreements are maintained for customers who store their product with the Company, and warehouse revenues are recognized as the service is provided.
Recognition of Insurance Recoveries	Recognition of Insurance Recoveries Estimated loss contingencies are recognized as charges to income when they are probable and reasonably estimable. Insurance recoveries are not recognized until all contingencies related to the insurance claim have been resolved and settlement has been reached with the insurer. Insurance recoveries related to interruption of business, net of related out-of-pocket expenses, are reported as a reduction to Cost of sales on the Condensed Consolidated Statements of Comprehensive Income. Insurance recoveries related to property damage, in excess of related costs and losses, if any, are included in Insurance recoveries on the Condensed Consolidated Statements of Comprehensive Income.
Income Taxes	Income Taxes The Company accounts for income taxes using an asset and liability method which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Evaluating the need for, and amount of, a valuation allowance for deferred tax assets often requires significant judgment and extensive analysis of all available evidence on a jurisdiction-by-jurisdiction basis. Such judgments require the Company to interpret existing tax law and other published guidance as applied to the Company's circumstances. As part of this assessment, the Company considers both positive and negative evidence about its profitability and tax situation. A valuation allowance is recognized if it is more likely than not that at least some portion of the deferred tax asset will not be realized. Accounting for uncertainty in income tax positions requires management judgment and the use of estimates in determining whether the impact of a tax position is "more likely than not" of being sustained. The Company considers many factors when evaluating and estimating its tax positions, which may require periodic adjustment and which may not accurately anticipate actual outcomes. It is possible that amounts reserved for potential exposure could change as a result of the conclusion of tax examinations and, accordingly, materially affect the Company’s reported net income after tax.
Earnings per Share	Earnings per Share Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends and dividend equivalents declared and participation rights in undistributed earnings. Per share amounts are computed by dividing net income from continuing operations attributable to common shareholders by the weighted average shares outstanding during the period.
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company tests its long-lived assets and instruments for impairment whenever events or conditions and circumstances indicate a carrying amount of an asset may not be recoverable.
Fair Value Measurements	Fair Value Measurements The fair value of an asset is considered to be the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Accounting guidance also establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. The fair value hierarchy gives the highest priority to quoted market prices (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of inputs used to measure fair value are as follows: • Level 1 - quoted prices in active markets for identical assets or liabilities accessible by the reporting entity. • Level 2 - observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 - unobservable inputs for an asset or liability. Unobservable inputs should only be used to the extent observable inputs are not available. The Company’s short-term financial instruments include cash and cash equivalents, accounts receivable and accounts payable. The carrying value of the short term financial instruments approximates the fair value due to their short-term nature. These financial instruments have no stated maturities or the financial instruments have short-term maturities that approximate market.
New Accounting Pronouncements	New Accounting Pronouncements In September 2015 the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments , which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. The ASU is effective for public business entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory (Topic 330) , which simplifies its current requirement that an entity measure inventory at lower of cost or market, when market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. Inventory within the scope of ASU 2015-11 should be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. ASU 2015-11 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The Company is evaluating the effect that ASU 2015-11 will have on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) , which simplifies the presentation of debt issuance costs. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015 (and interim periods within those fiscal years) with early adoption permitted and retrospective application required. The Company is evaluating the effect that ASU 2015-03 will have on its consolidated financial statements and related disclosures. On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. At its July 9, 2015 meeting, the FASB agreed to defer by one year the mandatory effective date of its revenue recognition standard, but will also provide entities the option to adopt it as of the original effective date (ASU No. 2015-14). The new standard has a mandatory adoption date for the Company of January 1, 2018. Early adoption is permitted at January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09, updated to ASU 2015-14, will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Accounting Policies and Basis19

Accounting Policies and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Schedule of Inventory	Inventory consists of the following: September 30, December 31, Finished goods $ 15,674 $ 10,039 Barreled distillate 21,063 11,114 Work in process 1,910 2,023 Raw materials 6,412 5,440 Maintenance materials 5,305 4,913 Other 1,844 912 Total $ 52,208 $ 34,441

Equity Method Investments (Tabl

Equity Method Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	Condensed financial information related to the Company’s non-consolidated equity method investment in ICP is shown below. Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, ICP’s Operating results: Net sales (a) $ 40,281 $ 53,813 $ 128,250 $ 185,460 Cost of sales and expenses (b) 35,072 48,467 107,851 155,214 Net income $ 5,209 $ 5,346 $ 20,399 (c) $ 30,246 (a) Includes related party sales to MGPI of $8,680 and $9,287 for the quarters ended September 30, 2015 and 2014 , respectively, and $27,195 and $23,905 for the year to date periods ended September 30, 2015 and 2014 , respectively. (b) Includes depreciation and amortization of $662 and $738 for the quarters ended September 30, 2015 and 2014 , respectively, and depreciation and amortization of $1,987 and $2,100 . (c) Includes business interruption insurance proceeds of $4,112 for the year to date period ended September 30, 2015 . The Company’s investment in joint ventures is as follows: September 30, December 31, ICP (30% interest) $ 18,043 (a) $ 11,924 DMI (50% interest) 384 (b) 449 $ 18,427 $ 12,373 (a) Includes effect of business interruption insurance proceeds on ICP earnings of $1,230 ( $4,112 x 30% interest) for the year to date period ended September 30, 2015 . (b) Includes effect of $81 pre-tax foreign currency translation adjustment on DMI loss for the year to date period ended September 30, 2015 discussed above in Realizability of DMI Investment .
The Company's Equity in Earnings (Loss) of Joint Ventures	The Company’s equity method investment earnings (loss) from joint ventures, based on unaudited financial statements, is as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, ICP (30% interest) $ 1,562 $ 1,604 $ 6,120 (a) $ 7,192 DMI (50% interest) — 17 (110 ) (b) 95 $ 1,562 $ 1,621 $ 6,010 $ 7,287 (a) Earnings include business interruption insurance proceeds of $1,230 ( $4,112 x 30% interest) for the year to date period ended September 30, 2015 . (b) Loss includes $81 pre-tax foreign currency translation adjustment for the year to date period ended September 30, 2015 discussed above in Realizability of DMI Investment .

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The computations of basic and diluted earnings per share are as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Operations: Net operating income (a) $ 6,771 $ 6,228 $ 19,712 $ 16,112 Less: Amounts allocated to participating securities (nonvested shares and units) (b) 222 268 653 692 Net income attributable to common shareholders $ 6,549 $ 5,960 $ 19,059 $ 15,420 Share information: Basic weighted average common shares (c)(d) 17,154,303 17,334,330 17,315,890 17,286,258 Incremental shares from potential dilutive securities (e) 769 229 759 — Diluted weighted average common shares 17,155,072 17,334,559 17,316,649 17,286,258 Basic and diluted earnings per share $ 0.38 $ 0.34 $ 1.10 $ 0.89 (a) Net operating income attributable to all shareholders. (b) Participating securities include 128,500 and 301,598 nonvested restricted shares at September 30, 2015 and 2014 , respectively. (c) Under the two-class method, basic weighted average common shares exclude outstanding nonvested, participating securities consisting of restricted share awards of 128,500 and 301,598 at September 30, 2015 and 2014 , respectively. (d) Basic weighted average common shares were affected by the September 1, 2015, purchase of 950,000 shares of common stock in a privately-negotiated transaction with F2 SEA, Inc., an affiliate of SEACOR Holdings, Inc. pursuant to a Stock Repurchase Agreement. SEACOR Holdings, Inc. is the 70 percent owner of ICP, the Company's 30 percent equity method investment. (e) Anti-dilutive shares related to stock options totaled 0 and 6,000 for the quarters ended September 30, 2015 and 2014 , respectively, and 0 and 8,667 for the year to date periods ended September 30, 2015 and 2014 . There were dilutive shares related to stock options totaling 4,000 and 4,000 for the quarters ended September 30, 2015 and 2014 , respectively, and 4,000 and 1,333 for the year to date periods ended September 30, 2015 and 2014 , respectively. The dilutive shares resulted in potential dilutive securities of 769 and 229 for the quarters ended September 30, 2015 and 2014 , respectively, and 759 and 0 for the year to date periods ended September 30, 2015 and 2014 , respectively.

Property and Business Interru22

Property and Business Interruption Insurance Claims and Recoveries (Tables)	9 Months Ended
	Sep. 30, 2015
Extraordinary and Unusual Items [Abstract]
Schedule of Business Insurance Recoveries	Detail of the activities related to the property and business interruption insurance claims and recoveries and where the net impacts are recorded on the Condensed Consolidated Statements of Comprehensive Income is as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Total insurance recoveries $ — $ 2,058 $ 460 $ 2,308 Insurance recoveries - interruption of business $ — $ 765 $ 460 $ 925 Less: out-of-pocket expenses related to interruption of business in Cost of Sales — 118 — 328 Net reduction to Cost of sales $ — $ 647 $ 460 $ 597 Insurance recoveries - property damage $ — $ 1,293 $ — $ 1,383 Less: Net book value of property loss in insurance recoveries — — — 160 Insurance recoveries $ — $ 1,293 $ — $ 1,223

Operating Segments (Tables)

Operating Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table provides operating profit for each segment based on net sales less identifiable operating expenses. Non-direct selling, general and administrative, interest expense, investment income and other general miscellaneous expenses have been excluded from segment operations and classified as Corporate. The Company’s management reporting does not assign or allocate special charges to the Company’s operating segments. Receivables, inventories and equipment have been identified with the segments to which they relate. All other assets are considered Corporate. Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Net Sales to Customers Distillery products $ 66,713 $ 63,700 $ 201,542 $ 194,035 Ingredient solutions 13,615 13,815 44,553 43,043 Total 80,328 77,515 246,095 237,078 Depreciation and Amortization Distillery products 2,219 2,133 6,603 6,334 Ingredient solutions 514 578 1,627 1,739 Corporate 343 382 1,030 1,129 Total 3,076 3,093 9,260 9,202 Income (Loss) before Income Taxes Distillery products 9,992 6,547 34,492 17,963 Ingredient solutions 1,002 1,082 5,713 2,828 Corporate (3,181 ) (2,570 ) (11,793 ) (5,681 ) Total $ 7,813 $ 5,059 $ 28,412 $ 15,110
Schedule Of Segment Reporting Identifiable Assets	The following table allocates assets to each segment: As of September 30, 2015 As of December 31, 2014 Identifiable Assets Distillery products $ 128,673 $ 98,791 Ingredient solutions 23,571 23,324 Corporate 37,151 38,484 Total $ 189,395 $ 160,599

Employee and Non-Employee Ben24

Employee and Non-Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs	The components of the Net Periodic Benefit Cost/Income for the quarter and year to date periods ended September 30, 2015 and 2014 , respectively, are as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Service cost $ 13 $ 14 $ 39 $ 58 Interest cost 35 34 105 116 Prior service cost recognized due to current curtailment — — — (52 ) Amortization of net actuarial loss 70 7 209 12 Amortization of prior service cost (85 ) (66 ) (254 ) (305 ) Total post-retirement benefit cost / (income) $ 33 $ (11 ) $ 99 $ (171 ) The components of the Net Periodic Benefit Cost for the quarter and year to date periods ended September 30, 2015 and 2014 , respectively, are as follows: Quarter Ended Year to Date Ended September 30, September 30, September 30, September 30, Interest cost $ — $ 22 $ 36 $ 66 Expected return on plan assets — (26 ) (45 ) (78 ) Recognition of net loss — 5 25 15 Loss incurred in current year — — (35 ) — Settlement costs — — 414 — Total pension benefit cost $ — $ 1 $ 395 $ 3

Severance Costs (Tables)

Severance Costs (Tables)	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Activity related to severance costs for the quarter and year to date periods ended September 30, 2015 and 2014 was as follows: Quarter Ended Year to Date Ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Balance at beginning of period $ 699 $ 547 $ 89 $ 1,142 Provision for additional expense — — 722 313 Payments and adjustments (355 ) (313 ) (467 ) (1,221 ) Balance at end of period $ 344 $ 234 $ 344 $ 234

Accounting Policies and Basis26

Accounting Policies and Basis of Presentation - Inventory (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Finished goods	$ 15,674	$ 10,039
Barreled distillate	21,063	11,114
Work in process	1,910	2,023
Raw materials	6,412	5,440
Maintenance materials	5,305	4,913
Other	1,844	912
Total	$ 52,208	$ 34,441

Accounting Policies and Basis27

Accounting Policies and Basis of Presentation (Detail) - USD ($) $ / shares in Units, $ in Thousands	Apr. 21, 2015	Mar. 26, 2015	Apr. 09, 2014	Mar. 17, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Accounting Policies [Abstract]
Shipping and handling revenue					$ 3,138	$ 3,237	$ 10,088	$ 10,400
Debt instrument, fair value disclosure					28,415		28,415		$ 10,297
Long-term debt, gross					$ 28,813		28,813		$ 10,283
Common stock, dividends, per share, declared (in Dollars per share)		$ 0.06		$ 0.05
Payments of dividends	$ 1,087		$ 907				$ 1,087	$ 907
Dividends paid with cash	1,061		884
Dividend equivalent payments	$ 26		$ 23

Accounting Policies and Basis28

Accounting Policies and Basis of Presentation - Debt (Details) - USD ($)	Feb. 27, 2015	Sep. 30, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Loan fees in other assets		$ 1,923,000	$ 2,100,000
Outstanding borrowings under credit facility		26,405,000
Credit facility, remaining borrowing capacity		$ 33,550,000
Average interest rate		3.04%
Revolver borrowings [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings under credit facility		$ 19,901,000
Fixed asset sub-line term loan [Member]
Line of Credit Facility [Line Items]
Outstanding borrowings under credit facility		6,504,000
Second Amended and Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Debt instrument, term	5 years
Maximum borrowing capacity	$ 80,000,000
Unamortized loan fees		348,000
Loan fees in other assets		675,000
Current borrowing capacity		$ 59,955,000

Equity Method Investments (Deta

Equity Method Investments (Detail) - USD ($)		Apr. 09, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Wind down period					1 year
Change in translation adjustment on non-consolidated foreign subsidiary, net of tax	[1]				$ 45,000
Equity method investments			$ 18,427,000		18,427,000			$ 12,373,000
Equity in earnings (loss) of joint ventures			$ 1,562,000	$ 1,621,000	6,010,000	$ 7,287,000
Insurance proceeds					$ 4,112,000
DMI [Member]
Schedule of Equity Method Investments [Line Items]
Equity method ownership percentage (percent)			50.00%		50.00%
Equity method investments			$ 384,000		$ 384,000			449,000
Equity in earnings (loss) of joint ventures			$ 0	17,000	$ (110,000)	95,000
ICP [Member]
Schedule of Equity Method Investments [Line Items]
Equity method ownership percentage (percent)			30.00%		30.00%
Decrease in related equity method investment earnings due to reassessment						$ 1,882,000	$ 1,882,000
Decrease in earnings per share due to change in estimate (in dollars per share)						$ 0.10
Equity method investments			$ 18,043,000		$ 18,043,000			$ 11,924,000
Equity in earnings (loss) of joint ventures			1,562,000	1,604,000	6,120,000	$ 7,192,000
Related party sales to MGPI			8,680,000	9,287,000	27,195,000	23,905,000
Depreciation and amortization			$ 662,000	$ 738,000	1,987,000	$ 2,100,000
Insurance proceeds					1,230,000
Accumulated Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Schedule of Equity Method Investments [Line Items]
Equity in earnings (loss) of joint ventures					(81,000)
Accumulated Other Comprehensive Loss [Member]
Schedule of Equity Method Investments [Line Items]
Change in translation adjustment on non-consolidated foreign subsidiary	[1]				81,000
Change in translation adjustment on non-consolidated foreign subsidiary, net of tax	[1]				$ 45,000
Revolving Credit Facility [Member] | Line of Credit [Member] | ICP [Member]
Schedule of Equity Method Investments [Line Items]
Maximum borrowing capacity		$ 30,000,000
Future maximum borrowing capacity increase		20,000,000
Amended and Restated Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | ICP [Member]
Schedule of Equity Method Investments [Line Items]
Termination of borrowing, amount		$ 15,000,000
[1]	See Note 2. Equity Method Investments for amounts reclassified from Accumulated Other Comprehensive Loss.

Equity Method Investments - Ope

Equity Method Investments - Operating Results (Details) - ICP [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Net sales	$ 40,281	$ 53,813	$ 128,250	$ 185,460
Cost of sales and expenses	35,072	48,467	107,851	155,214
Net income	$ 5,209	$ 5,346	$ 20,399	$ 30,246

Equity Method Investments - The

Equity Method Investments - The Company's Equity in Earnings (Loss) of Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Equity in earnings (loss) of joint ventures	$ 1,562	$ 1,621	$ 6,010	$ 7,287
ICP [Member]
Schedule of Equity Method Investments [Line Items]
Equity in earnings (loss) of joint ventures	1,562	1,604	6,120	7,192
DMI [Member]
Schedule of Equity Method Investments [Line Items]
Equity in earnings (loss) of joint ventures	$ 0	$ 17	$ (110)	$ 95

Equity Method Investments - T32

Equity Method Investments - The Company's Investment in Joint Ventures (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 18,427	$ 12,373
ICP [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments	18,043	11,924
DMI [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 384	$ 449

Earnings per Share - The Comput

Earnings per Share - The Computations of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operations:
Net income	$ 6,771	$ 6,228	$ 19,712	$ 16,112
Less: Amounts allocated to participating securities (nonvested shares and units)	222	268	653	692
Net income attributable to common shareholders	$ 6,549	$ 5,960	$ 19,059	$ 15,420
Share information:
Basic weighted average common shares	17,154,303	17,334,330	17,315,890	17,286,258
Incremental shares from potential dilutive securities	769	229	759	0
Diluted weighted average common shares	17,155,072	17,334,559	17,316,649	17,286,258
Basic and diluted earnings per share (in usd per share)	$ 0.38	$ 0.34	$ 1.10	$ 0.89

Earnings per Share (Detail)

Earnings per Share (Detail) - shares	Sep. 01, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares purchased in Stock Repurchase Agreement	950,000
Antidilutive securities excluded from computation of earnings per share		0	6,000	0	8,667
Dilutive securities		4,000	4,000	4,000	1,333
Incremental shares from potential dilutive securities		769	229	759	0
ICP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity method ownership percentage (percent)		30.00%		30.00%
ICP [Member] | SEACOR Holdings, Inc. [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity method ownership percentage (percent)		70.00%		70.00%
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Restricted stock					301,598

Commitments and Contingencies (

Commitments and Contingencies (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Long-term Purchase Commitment [Line Items]
Commitments	$ 34,613
Additions to property and equipment	20,043	$ 4,920
MMBTU Natual Gas Dollar Equivalent [Member]
Long-term Purchase Commitment [Line Items]
Commitments	8,375
Pounds Of Flour Dollar Equivalent [Member]
Long-term Purchase Commitment [Line Items]
Commitments	16,465
Capital Expenditures [Member]
Long-term Purchase Commitment [Line Items]
Aggregate purchase commitments	6,042
Purchases against purchase commitments	22,262
Remaining amount payable	$ (2,219)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Deferred tax assets, state taxes					$ 3,829
Deferred tax assets, valuation allowance percentage recorded			100.00%
Deferred tax assets, release in valuation allowance	$ 1,908		$ 1,908	$ 5,855
Income tax expense (benefit) for portion of change in valuation allowance		$ (1,215)		$ (1,215)
Effective tax rate (as a percent)	13.30%	(23.10%)	30.60%	(6.60%)
Income tax expense (benefit)	$ 1,042	$ (1,169)	$ 8,700	$ (1,002)

Property and Business Interru37

Property and Business Interruption Insurance Claims and Recoveries (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Interruption Loss [Line Items]
Loss of production, period	7 days
Total insurance recoveries		$ 0	$ 2,058	$ 460	$ 2,308
Insurance recoveries		0	1,293	0	1,223
Interruption of business [Member]
Business Interruption Loss [Line Items]
Total insurance recoveries		0	765	460	925
Insurance recoveries		0	647	460	597
Interruption of business [Member] | Cost of Sales [Member]
Business Interruption Loss [Line Items]
Less: out-of-pocket expenses related to interruption of business in Cost of Sales		0	118	0	328
Property damage from fire [Member]
Business Interruption Loss [Line Items]
Total insurance recoveries		0	1,293	0	1,383
Insurance recoveries		0	1,293	0	1,223
Property damage from fire [Member] | Insurance Recoveries [Member]
Business Interruption Loss [Line Items]
Less: Net book value of property loss in insurance recoveries		$ 0	$ 0	$ 0	$ 160

Operating Segments (Detail)

Operating Segments (Detail)	9 Months Ended
	Sep. 30, 2015segment
Segment Reporting [Abstract]
Number of reportable segments	2

Operating Segments - Operating

Operating Segments - Operating Profit (Loss) for Each Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Sales to Customers
Net Sales to Customers	$ 80,328	$ 77,515	$ 246,095	$ 237,078
Depreciation and Amortization
Depreciation and Amortization	3,076	3,093	9,260	9,202
Income (Loss) before Income Taxes
Income (Loss) before Income Taxes	7,813	5,059	28,412	15,110
Operating Segments [Member] | Distillery Products [Member]
Net Sales to Customers
Net Sales to Customers	66,713	63,700	201,542	194,035
Depreciation and Amortization
Depreciation and Amortization	2,219	2,133	6,603	6,334
Income (Loss) before Income Taxes
Income (Loss) before Income Taxes	9,992	6,547	34,492	17,963
Operating Segments [Member] | Ingredient Solutions [Member]
Net Sales to Customers
Net Sales to Customers	13,615	13,815	44,553	43,043
Depreciation and Amortization
Depreciation and Amortization	514	578	1,627	1,739
Income (Loss) before Income Taxes
Income (Loss) before Income Taxes	1,002	1,082	5,713	2,828
Corporate [Member]
Depreciation and Amortization
Depreciation and Amortization	343	382	1,030	1,129
Income (Loss) before Income Taxes
Income (Loss) before Income Taxes	$ (3,181)	$ (2,570)	$ (11,793)	$ (5,681)

Operating Segments - Identifiab

Operating Segments - Identifiable Assets for Each Segment (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Identifiable Assets	$ 189,395	$ 160,599
Operating Segments [Member] | Distillery Products [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	128,673	98,791
Operating Segments [Member] | Ingredient Solutions [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	23,571	23,324
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	$ 37,151	$ 38,484

Employee and Non-Employee Ben41

Employee and Non-Employee Benefit Plans - Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Post Retirement Health Care And Life Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 13	$ 14	$ 39	$ 58
Interest cost	35	34	105	116
Loss incurred in current year	0	0	0	(52)
Amortization of net actuarial loss	70	7	209	12
Amortization of prior service cost	(85)	(66)	(254)	(305)
Total post-retirement benefit cost / (income)	33	(11)	99	(171)
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	0	22	36	66
Loss incurred in current year	0	0	(35)	0
Expected return on plan assets	0	(26)	(45)	(78)
Amortization of net actuarial loss	0	5	25	15
Settlement costs	0	0	(414)	0
Total post-retirement benefit cost / (income)	$ 0	$ 1	$ 395	$ 3

Employee and Non-Employee Ben42

Employee and Non-Employee Benefit Plans (Detail) - USD ($) $ / shares in Units, $ in Thousands		Jun. 23, 2015	May. 28, 2015	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 01, 2015	Feb. 27, 2015	Dec. 31, 2014	May. 30, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other comprehensive income (loss) reclassification of defined benefit plan prior service cost and net actuarial loss						$ 45	$ 345
Other comprehensive income (loss), reclassification of net actuarial loss from accumulated other comprehensive loss into pension benefit income						404	$ 15
Change in pension plans, net of tax	[1]					(243)
Other current liabilities				$ 0		$ 0				$ 716
Employer contributions to 401 (k)				$ 117
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)				40,000,000		40,000,000				40,000,000
Stock repurchase program, authorized shares								950,000
Stock repurchase program, price per share (in dollars per share)								$ 15.25
Treasury stock value, at cost				$ 16,038		$ 16,038		$ 14,488		$ 980
Stock repurchase program, authorized amount									$ 3,500
ICP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity method ownership percentage (percent)				30.00%		30.00%
SEACOR Holdings, Inc. [Member] | ICP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity method ownership percentage (percent)				70.00%		70.00%
The 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				1,500,000		1,500,000
Directors Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				300,000		300,000
Unexercised awards (in shares)				4,000		4,000
Grants in period (in shares)						31,983
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)											300,000
Minimum [Member] | Non-Employee Director Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						1 year
Restricted Stock Units (RSUs) [Member] | The 2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)						101,702
RSUs forfeited for termination of employment (in shares)						6,256
Restricted Stock Units (RSUs) [Member] | Employee Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards (in shares)				561,446		561,446
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock						128,500
Chief Financial Officer [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vested (in shares)			13,585
Vice President [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards (in shares)		29,941
Accelerated share-based compensation expense		$ 195
Vice President [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested awards (in shares)		16,500
Accumulated Other Comprehensive Loss
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Change in pension plans, net of tax	[1]					$ (243)
Selling, General and Administrative Expenses [Member] | Chief Financial Officer [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			$ 231
Post Retirement Health Care And Life Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, contributions by employer				$ 114
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, contributions by employer					$ 741
[1]	See Note 9. Employee and Non-Employee Benefit Plans for amounts reclassified from Accumulated Other Comprehensive Loss.

Severance Costs (Detail)

Severance Costs (Detail) - USD ($) $ in Thousands	May. 28, 2015	Dec. 03, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Chief Executive Officer [Member]
Restructuring Cost and Reserve [Line Items]
Severance costs		$ 915
Chief Financial Officer [Member]
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 941				$ 710
Chief Financial Officer [Member] | Accrued Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Severance costs					346
Severance [Member]
Restructuring Reserve [Roll Forward]
Balance at beginning of period			$ 699	$ 547	89	$ 1,142
Provision for additional expense			0	0	722	313
Payments and adjustments			(355)	(313)	(467)	(1,221)
Balance at end of period			$ 344	234	$ 344	234
Severance [Member] | Chief Executive Officer [Member]
Restructuring Cost and Reserve [Line Items]
Severance payments				$ 104		$ 301