Revenue (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Breakdown of Revenues between ASC 606

The breakdown of revenues between ASC 606 and other standards is as follows:

(in thousands)	Three months ended March 31, 2018
Revenues under ASC 606	$	193,650
Revenues under ASC 840	26,029
Revenues under ASC 815	416,060
Total Revenues	$	635,739

Schedule of Disaggregation of Revenues

The following table disaggregates revenues under ASC 606 by major product/service line:

	Three months ended March 31, 2018
(in thousands)	Grain		Ethanol		Plant Nutrient		Rail		Total
Specialty nutrients	$	—	$	—	$	75,078	$	—	$	75,078
Primary nutrients	—		—		53,219		—		53,219
Service	4,418		2,545		209		8,117		15,289
Co-products	—		26,646		—		—		26,646
Other	210		—		7,111		16,097		23,418
Total	$	4,628	$	29,191	$	135,617	$	24,214	$	193,650

Schedule of Opening and Closing Balances of Company's Contract Assets and Liabilities

The opening and closing balances of the Company’s contract liabilities are as follows:

in thousands	Contract liabilities
Balance at January 1, 2018	$	25,520
Balance at March 31, 2018	$	67,715

Schedule of Effects of New Accounting Pronouncements in Balance Sheet and Statement of Operations

	Statement of Operations
in thousands	As Reported			ASC 606 Impact			Pro forma as if the previous accounting guidance was in effect
Sales and merchandising revenues	$	635,739		$	164,189		$	799,928
Cost of sales and merchandising revenues	572,034			164,650			736,684
Gross profit	63,705			(461		)	63,244
Operating, administrative and general expenses	64,257			—			64,257
Goodwill impairment				—			—
Interest expense	6,999			(403		)	6,596
Other income:
Equity in earnings of affiliates, net	3,573			—			3,573
Other income, net	1,686			—			1,686
Income (loss) before income taxes	(2,292		)	(58		)	(2,350		)
Income tax provision	(310		)	(22		)	(332		)
Net income (loss)	(1,982		)	(36		)	(2,018		)
Net income attributable to the noncontrolling interests	(282		)	—			(282		)
Net income (loss) attributable to The Andersons, Inc.	$	(1,700	)	$	(36	)	$	(1,736	)

The following table compares the reported condensed consolidated balance sheet and statement of operations, as of and for the three months ended March 31, 2018, to the pro forma amounts had the previous guidance been in effect:

	Balance Sheet
(in thousands)	As Reported		ASC 606 Impact			Pro forma as if the previous accounting guidance was in effect
Cash and cash equivalents and restricted cash	$	31,497	$	—		$	31,497
Accounts receivable, net	216,021		—			216,021
Inventories	731,629		145			731,774
Commodity derivative assets - current	43,810		—			43,810
Other current assets	114,922		(170		)	114,752
Other noncurrent assets	369,633		—			369,633
Rail Group assets leased to others, net	462,253		(24,844		)	437,409
Property, plant and equipment	393,763		—			393,763
Total assets	2,363,528		(24,869		)	2,338,659
Short-term debt and current maturities of long-term debt	503,134		(2,922		)	500,212
Trade and other payables and accrued expenses and other current liabilities	323,614		—			323,614
Commodity derivative liabilities - current	15,424		—			15,424
Customer prepayments and deferred revenue	81,778		—			81,778
Commodity derivative liabilities - noncurrent and Other long-term liabilities	32,950		—			32,950
Employee benefit plan obligations	26,310		—			26,310
Long-term debt, less current maturities	438,628		(33,318		)	405,310
Deferred income taxes	118,933		2,942			121,875
Total liabilities	1,540,771		(33,298		)	1,507,473
Retained earnings	618,572		8,429			627,001
Common shares, additional paid-in-capital, treasury shares, accumulated other comprehensive loss and noncontrolling interests	204,185		—			204,185
Total equity	822,757		8,429			831,186
Total liabilities and equity	2,363,528		(24,869		)	2,338,659