Derivatives (Tables)

6 Months Ended

Jun. 30, 2025

Derivatives

Schedule of fair value of derivative assets and liabilities

(Thousands)	Balance Sheet Location	June 30, 2025		December 31, 2024
Derivative assets designated as cash flow hedging instruments:
Coffee futures contracts(1)	Derivative assets	$	—	$	3,815
Options contracts(2)	Derivative assets		—		228
Total		$	—	$	4,043
Derivative assets not designated as cash flow hedging instruments:
Forward purchase and sales contracts	Derivative assets	$	28,176	$	15,703
Total			28,176		15,703
Total derivative assets		$	28,176	$	19,746
Derivative liabilities designated as cash flow hedging instruments:
Coffee futures contracts(1)	Derivative liabilities	$	23,316	$	—
Options contracts(2)	Derivative liabilities		1,795		—
Total		$	25,111	$	—
Derivative liabilities not designated as cash flow hedging instruments:
Forward purchase and sales contracts	Derivative liabilities	$	9,988	$	11,966
Total derivative liabilities		$	35,099	$	11,966

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	2025		2024		2025		2024
Derivative assets designated as cash flow hedging instruments:
Net realized gains (losses) on coffee derivatives	Costs of sales	$	12,121	$	3,480	$	22,283	$	3,572
Derivative assets and liabilities not designated as cash flow hedging instruments:
Net unrealized gains (losses) on forward sales and purchase contracts	Costs of sales	$	10,596	$	(141)	$	14,190	$	2,200