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Related Party Transactions (Tables)
6 Months Ended
Jun. 30, 2014
Related Party Transactions [Abstract]  
Company's investment balance in each of its equity method investees by entity
The following table presents the Company’s investment balance in each of its equity method investees by entity:
(in thousands)
June 30, 2014
 
December 31, 2013
 
June 30, 2013
The Andersons Albion Ethanol LLC (a)
$
38,187

 
$
40,194

 
$
32,047

The Andersons Clymers Ethanol LLC (a)
47,129

 
44,418

 
34,257

The Andersons Marathon Ethanol LLC (a)
56,320

 
46,811

 
34,818

Lansing Trade Group, LLC (b)
65,730

 
106,028

 
91,573

Thompsons Limited (c)
53,058

 
49,833

 

Other
3,957

 
3,825

 
2,546

Total
$
264,381

 
$
291,109

 
$
195,241


(a) LLCs investment balance considers cash distributions made during the first quarter of 2014
(b) Decrease in LTG investment balance is driven by the sale of a portion of the Company's interest in LTG during the first quarter of 2014
 (c) Thompsons Limited and related U.S. operating company held by joint ventures
Income (loss) earned from the Company's equity method investments by entity
The following table summarizes income earned from the Company’s equity method investments by entity:
 
% ownership at
June 30, 2014
 
Three months ended
June 30,
 
Six months ended
June 30,
(in thousands)
 
2014
 
2013
 
2014
 
2013
The Andersons Albion Ethanol LLC
53%
 
$
6,656

 
$
972

 
$
11,599

 
$
1,916

The Andersons Clymers Ethanol LLC
38%
 
6,716

 
1,358

 
12,255

 
1,139

The Andersons Marathon Ethanol LLC
50%
 
10,374

 
2,654

 
18,509

 
1,822

Lansing Trade Group, LLC
40% (a)
 
4,893

 
4,873

 
7,114

 
12,864

Thompsons Limited (b)
50%
 
3,399

 

 
3,086

 

Other
5%-23%
 
175

 
153

 
151

 
73

Total
 
 
$
32,213

 
$
10,010

 
$
52,714

 
$
17,814


 (a) This does not consider restricted management units which once vested will reduce the ownership percentage by approximately 1.5%
 (b) Thompsons Limited and related U.S. operating company held by joint ventures
Schedule of aggregate summarized financial information of subsidiaries
The following table sets forth the related party transactions entered into for the time periods presented:
 
Three months ended
June 30,
 
Six months ended
June 30,
(in thousands)
2014
 
2013
 
2014
 
2013
Sales revenues
$
297,108

 
$
359,759

 
$
519,102

 
$
669,464

Service fee revenues (a)
6,203

 
5,814

 
11,841

 
11,615

Purchases of product
169,601

 
183,105

 
324,616

 
345,060

Lease income (b)
1,596

 
1,518

 
3,260

 
3,070

Labor and benefits reimbursement (c)
2,931

 
2,623

 
5,799

 
5,266

Other expenses (d)
238

 
395

 
724

 
753

Accounts receivable at June 30 (e)
27,028

 
24,149

 
 
 
 
Accounts payable at June 30 (f)
21,829

 
27,936

 
 
 
 
 
(a)
Service fee revenues include management fee, corn origination fee, ethanol and DDG marketing fees, and other commissions.
(b)
Lease income includes the lease of the Company’s Albion, Michigan and Clymers, Indiana grain facilities as well as certain railcars to the various ethanol LLCs and IANR.
(c)
The Company provides all operational labor to the unconsolidated ethanol LLCs and charges them an amount equal to the Company’s costs of the related services.
(d)
Other expenses include payments to IANR for repair facility rent and use of their railroad reporting mark, payment to LTG for the lease of railcars and other various expenses.
(e)
Accounts receivable represents amounts due from related parties for sales of corn, leasing revenue and service fees.
(f)
Accounts payable represents amounts due to related parties for purchases of ethanol and other various items.