Derivatives (Tables)

6 Months Ended

Jun. 30, 2023

Derivatives

Schedule of fair value of derivative assets and liabilities

(Thousands)	Balance Sheet Location	June 30, 2023		December 31, 2022
Derivative assets not designated as cash flow hedging instruments:
Forward purchase and sales contracts	Derivative assets	$	18,357	$	15,053
Total derivative assets		$	18,357	$	15,053
Derivative liabilities designated as cash flow hedging instruments:
Coffee futures contracts(1)	Derivative liabilities	$	1,298	$	3,334
Total		$	1,298	$	3,334
Derivative liabilities not designated as cash flow hedging instruments:
Forward purchase and sales contracts	Derivative liabilities	$	5,984	$	4,258
Total derivative liabilities		$	7,282	$	7,592

1 - The fair value of coffee futures excludes amounts related to margin accounts.

Schedule of pre-tax net gains and losses for derivative instruments

		Three Months Ended June 30,				Six Months Ended June 30,
(Thousands)	Statement of Operations Location	2023		2022		2023		2022
Derivative assets designated as cash flow hedging instruments:
Net realized gains (losses) on coffee derivatives	Costs of sales	$	(1,366)	$	2,701	$	(2,087)	$	6,831
Derivative assets and liabilities not designated as cash flow hedging instruments:
Net unrealized gains (losses) on forward sales and purchase contracts	Costs of sales	$	2,098	$	291	$	1,070	$	7,237