Dispositions

3 Months Ended

Mar. 31, 2022

Dispositions [Abstract]

Dispositions

4. DISPOSITIONS

Ord Disposition

On March 22, 2021, Green Plains completed the sale of its ethanol plant located in Ord, Nebraska to GreenAmerica Biofuels Ord LLC. Correspondingly, the partnership’s storage assets located adjacent to the Ord plant were sold to Green Plains for $27.5 million, along with the transfer of associated railcar operating leases.

This transaction was accounted for as a transfer between entities under common control and was approved by the conflicts committee. There were no material transaction costs recorded for the disposition.

The following is a summary of assets and liabilities disposed of or assumed (in thousands):

Total consideration	$	27,500
Identifiable assets and liabilities disposed of:
Property and equipment, net		542
Operating lease right-of-use assets		1,811
Operating lease current liabilities		(1,021)
Operating lease long-term liabilities		(790)
Total identifiable net assets		542
Partners' equity effect	$	26,958

In conjunction with the disposition, the partnership amended the 1) operational services agreement, 2) ethanol storage and throughput agreement, and 3) rail transportation services agreement. Please refer to Note 10 – Related Party Transactions to the consolidated financial statements for additional information.