Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Measurements

Summarizes the fair value of financial instruments

	September 30, 2022
(Thousands)	Level 1		Level 2		Level 3		Total
Assets:
Green coffee associated with forward contracts	$	—	$	51,323	$	—	$	51,323
Coffee futures contracts		—		—		—		—
Forward purchase and sales contracts		—		13,393		—		13,393
Coffee options		303		—		—		303
Total	$	303	$	64,716	$	—	$	65,019
Liabilities:
Coffee futures contracts	$	703	$	—	$	—	$	703
Forward purchase and sales contracts		—		4,654		—		4,654
Coffee options		—		—		—		—
Westrock Public Warrants		18,125		—		—		18,125
Westrock Private Warrants		—		—		14,208		14,208
Total	$	18,828	$	4,654	$	14,208	$	37,690

	December 31, 2021
(Thousands)	Level 1		Level 2		Level 3		Total
Assets:
Green coffee associated with forward contracts	$	—	$	47,845	$	—	$	47,845
Coffee futures contracts		172		—		—		172
Forward purchase and sales contracts		—		13,593		—		13,593
Coffee options		—		—		—		—
Total	$	172	$	61,438	$	—	$	61,610
Liabilities:
Forward purchase and sales contracts	$	—	$	14,021	$	—	$	14,021
Total	$	—	$	14,021	$	—	$	14,021

Schedule of change in fair value

(Thousands)	Westrock Private Warrants
Fair value as of January 1, 2022	$	—
Assumption of warrants		11,618
Change in fair value		2,590
Fair value as of September 30, 2022	$	14,208

Schedule of warrants measured at fair value

	September 30, 2022
Stock price	$	10.33
Exercise price		11.50
Expected term (years)		5.00
Expected volatility		16.50%
Risk-free rate of return		4.03%
Dividend yield		0.00%