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Inventories

12 Months Ended

Dec. 31, 2014

Major classes of inventories are as follows:



	December 31,
(in thousands)	2014		2013
Grain	$	570,916	$	432,893
Ethanol and by-products	13,154		14,453
Agricultural fertilizer and supplies	131,613		100,593
Lawn fertilizer and corncob products	49,523		39,960
Retail merchandise	23,810		22,505
Railcar repair parts	6,431		4,312
Other	208		207
	$	795,655	$	614,923

Inventories on the Consolidated Balance Sheets at December 31, 2014 and December 31, 2013 do not include 3.1 million and 13.3 million bushels of grain, respectively, held in storage for others. The Company does not have title to the grain and is only liable for any deficiencies in grade or shortage of quantity that may arise during the storage period. Management does not anticipate material losses on any deficiencies.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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