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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Measurements  
Summary of the fair value of financial instruments

December 31, 2024

(Thousands)

Level 1

Level 2

Level 3

Total

Assets:

Green coffee associated with forward contracts

$

$

47,644

$

$

47,644

Coffee futures contracts

3,815

3,815

Options contracts

228

228

Forward purchase and sales contracts

15,703

15,703

Total

$

4,043

$

63,347

$

$

67,390

Liabilities:

Forward purchase and sales contracts

11,966

11,966

Total

$

$

11,966

$

$

11,966

December 31, 2023

(Thousands)

Level 1

Level 2

Level 3

Total

Assets:

Green coffee associated with forward contracts

$

$

33,447

$

$

33,447

Coffee futures contracts

3,355

3,355

Forward purchase and sales contracts

10,303

10,303

Total

$

3,355

$

43,750

$

$

47,105

Liabilities:

Forward purchase and sales contracts

3,731

3,731

Westrock Public Warrants

39,371

39,371

Westrock Private Warrants

5,430

5,430

Total

$

39,371

$

3,731

$

5,430

$

48,532

Schedule of change in fair value

Westrock

(Thousands)

    

Private Warrants

Fair value as of December 31, 2023

$

5,430

Change in fair value

(1,511)

Warrant exchange

(3,919)

Fair value as of December 31, 2024

$

Westrock

(Thousands)

Private Warrants

Fair value as of December 31, 2022

$

28,342

Transfer out of level 3

(18,916)

Change in fair value

(3,996)

Fair value as of December 31, 2023

$

5,430

Schedule of unobservable inputs

    

December 31, 2023

    

Stock price

$

10.21

Exercise price

11.50

Expected term (years)

5.00

Expected volatility

33.80%

Risk-free rate of return

3.91%

Dividend yield

0.00%