Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s operations include six reportable business segments that are distinguished primarily on the basis of products and services offered. The Grain business includes grain merchandising, the operation of terminal grain elevator facilities and the investments in Lansing Trade Group, LLC (“LTG”) and the Thompsons Limited joint ventures. The Ethanol business purchases and sells ethanol and also manages the ethanol production facilities organized as limited liability companies, one of which is consolidated and three of which are investments accounted for under the equity method. There are various service contracts for these investments. Rail operations include the leasing, marketing and fleet management of railcar and other assets, railcar repair and metal fabrication. The Plant Nutrient business manufactures and distributes agricultural inputs, primarily fertilizer, to dealers and farmers. Turf & Specialty operations include the production and distribution of turf care and corncob-based products. The Retail business operates large retail stores, a specialty food market, a distribution center and a lawn and garden equipment sales and service facility. Included in “Other” are the corporate level amounts not attributable to an operating segment.

The segment information below includes the allocation of expenses shared by one or more operating segments. Although management believes such allocations are reasonable, the operating information does not necessarily reflect how such data might appear if the segments were operated as separate businesses. Inter-segment sales are made at prices comparable to normal, unaffiliated customer sales. Capital expenditures include additions to property, plant and equipment, software and intangible assets.

	Year ended December 31,
(in thousands)	2014		2013		2012
Revenues from external customers
Grain	$	2,682,038	$	3,617,943	$	3,293,632
Ethanol	765,939		831,965		742,929
Plant Nutrient	668,124		708,654		797,033
Rail	148,954		164,794		156,426
Turf & Specialty	134,209		140,512		131,026
Retail	140,807		140,706		150,964
Total	$	4,540,071	$	5,604,574	$	5,272,010

	Year ended December 31,
(in thousands)	2014		2013		2012
Inter-segment sales
Grain	$	5,066	$	1	$	409
Plant Nutrient	16,829		17,537		16,135
Rail	466		427		622
Turf & Specialty	2,511		2,255		2,350
Total	$	24,872	$	20,220	$	19,516

	Year ended December 31,
(in thousands)	2014			2013			2012
Interest expense (income)
Grain	$	8,785		$	9,567		$	12,174
Ethanol	255			1,038			759
Plant Nutrient	3,736			3,312			2,832
Rail	7,247			5,544			4,807
Turf & Specialty	1,542			1,237			1,233
Retail	666			689			776
Other	(471		)	(527		)	(426		)
Total	$	21,760		$	20,860		$	22,155

	Year ended December 31,
(in thousands)	2014		2013		2012
Equity in earnings (loss) of affiliates
Grain	$	27,643	$	33,122	$	29,080
Ethanol	68,880		35,583		(12,598		)
Plant Nutrient	—		—		5
Total	$	96,523	$	68,705	$	16,487

	Year ended December 31,
(in thousands)	2014		2013		2012
Other income, net
Grain	$	21,450	$	2,120	$	2,548
Ethanol	223		399		53
Plant Nutrient	3,262		1,093		1,917
Rail	3,094		7,666		7,136
Turf & Specialty	1,110		690		784
Retail	955		501		554
Other	1,031		2,407		1,733
Total	$	31,125	$	14,876	$	14,725

	Year ended December 31,
(in thousands)	2014			2013			2012
Income (loss) before income taxes
Grain	$	58,136		$	46,805		$	63,597
Ethanol	92,257			50,600			(3,720		)
Plant Nutrient	23,845			27,275			39,254
Rail	31,445			42,785			42,841
Turf & Specialty	669			4,744			2,216
Retail	(620		)	(7,534		)	(3,951		)
Other	(34,505		)	(20,925		)	(16,189		)
Noncontrolling interests	12,919			5,763			(3,915		)
Total	$	184,146		$	149,513		$	120,133

	Year ended December 31,
(in thousands)	2014		2013
Identifiable assets
Grain	$	1,137,437	$	921,914
Ethanol	197,888		229,797
Plant Nutrient	330,731		268,238
Rail	365,531		312,654
Turf & Specialty	102,282		89,939
Retail	44,536		44,910
Other	186,287		406,104
Total	$	2,364,692	$	2,273,556

	Year ended December 31,
(in thousands)	2014		2013		2012
Capital expenditures
Grain	$	20,958	$	8,535	$	30,178
Ethanol	2,256		4,052		1,966
Plant Nutrient	18,372		17,094		18,038
Rail	2,332		4,135		3,896
Turf & Specialty	6,119		6,563		5,043
Retail	1,190		2,944		2,794
Other	8,448		3,463		7,102
Total	$	59,675	$	46,786	$	69,017

	Year ended December 31,
(in thousands)	2014		2013		2012
Acquisition of businesses, net of cash acquired and investments in affiliates
Grain	$	40,206	$	51,544	$	116,888
Ethanol	—		—		77,400
Plant Nutrient	15,489		—		15,286
Rail	—		7,804		—
Turf & Specialty	—		4,103		10,683
Other	100		1,050		—
Total	$	55,795	$	64,501	$	220,257

	Year ended December 31,
(in thousands)	2014		2013		2012
Depreciation and amortization
Grain	$	16,547	$	15,620	$	9,554
Ethanol	5,700		5,909		5,003
Plant Nutrient	15,294		14,143		12,014
Rail	13,262		12,031		15,929
Turf & Specialty	4,330		3,070		2,117
Retail	2,668		3,119		3,002
Other	4,204		1,415		1,358
Total	$	62,005	$	55,307	$	48,977

Grain sales for export to foreign markets amounted to $251.4 million, $220.0 million and $261.8 million in 2014, 2013 and 2012, respectively - the majority of which were sales to Canadian customers. Revenues from leased railcars in Canada totaled $9.1 million, $8.7 million and $10.6 million in 2014, 2013 and 2012, respectively. The net book value of the leased railcars in Canada for the years ended December 31, 2014 and 2013 was $38.5 million and $18.3 million, respectively. Lease revenue on railcars in Mexico totaled $0.4 million in each of 2014, 2013, and 2012.