XML 39 R21.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s operations include three reportable business segments that are distinguished primarily on the basis of products and services offered as well as the management structure. The Trade business includes commodity merchandising and the operation of terminal grain elevator facilities. The Renewables business produces, purchases and sells ethanol and co-products. The segment also operates a merchandising portfolio of ethanol, ethanol co-products and other biofuels such as renewable diesel feedstocks. The Plant Nutrient business manufactures and distributes agricultural inputs, primary nutrients and specialty fertilizers, to dealers and farmers, along with turf care and corncob-based products. Included in Other are the corporate level costs not attributed to an operating segment.

In the third quarter of 2021, the Company sold its Rail Leasing assets and sold substantially all of the remaining assets that comprised the legacy Rail segment. Prior year results have been recast to reflect this change and Rail items have been classified as discontinued operations throughout the financial statements. See Note 16 for further details of the divestiture of the Rail 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. The Company does not have any customers who represent 10 percent, or more, of total revenues.
 Year Ended December 31,
(in thousands)202220212020
Revenues from external customers
Trade$13,047,537 $9,304,357 $6,141,402 
Renewables3,178,539 2,440,798 1,260,259 
Plant Nutrient1,099,308 866,895 662,959 
Total$17,325,384 $12,612,050 $8,064,620 
 Year Ended December 31,
(in thousands)202220212020
Interest expense (income)
Trade$42,551 $23,688 $21,974 
Renewables8,775 7,602 7,461 
Plant Nutrient7,298 4,355 5,805 
Other(1,775)1,647 (1,456)
Total$56,849 $37,292 $33,784 
 Year Ended December 31,
(in thousands)202220212020
Other income, net
Trade$12,661 $35,878 $12,592 
Renewables20,731 3,200 2,795 
Plant Nutrient3,001 2,128 1,274 
Other(2,570)(3,768)1,540 
Total$33,823 $37,438 $18,201 
 Year Ended December 31,
(in thousands)202220212020
Income (loss) before income taxes from continuing operations
Trade$95,225 $87,946 $24,687 
Renewables (a)
108,221 81,205 (47,338)
Plant Nutrient39,162 42,615 16,015 
Other(48,026)(50,996)(20,445)
Income (loss) before income taxes from continuing operations$194,582 $160,770 $(27,081)
(a) Includes income (loss) attributable to noncontrolling interests of $35.9 million, $31.9 million and $(21.9) million for the years ended December 31, 2022, 2021 and 2020, respectively.
December 31,
(in thousands)20222021
Identifiable assets
Trade$3,166,813 $3,115,045 
Renewables835,860 784,031 
Plant Nutrient527,725 453,137 
Other74,727 152,952 
Total assets of continuing operations4,605,125 4,505,165 
Assets of discontinued operations2,871 64,054 
Total$4,607,996 $4,569,219 
Year Ended December 31,
(in thousands)202220212020
Capital expenditures
   Trade$29,433 $17,828 $14,911 
   Renewables42,734 28,502 39,791 
   Plant Nutrient34,678 21,616 16,565 
   Other1,439 3,828 1,458 
   Total$108,284 $71,774 $72,725 
Year Ended December 31,
(in thousands)202220212020
Depreciation and amortization
   Trade$35,953 $44,335 $44,627 
   Renewables63,458 77,542 73,224 
   Plant Nutrient26,634 25,957 25,407 
   Other8,697 9,340 9,807 
Total from continuing operations134,742 157,174 153,065 
Discontinued operations— 21,760 35,573 
Total$134,742 $178,934 $188,638 
Year Ended December 31,
(in thousands)202220212020
Revenues from external customers by geographic region
United States$12,503,330 $9,771,502 $6,180,376 
Canada1,199,487 806,481 517,006 
Egypt573,371 73,654 8,136 
Mexico493,111 490,672 246,523 
Switzerland373,737 487,363 348,867 
Other2,182,348 982,378 763,712 
   Total$17,325,384 $12,612,050 $8,064,620 
The net book value of Trade property, plant and equipment in Canada as of December 31, 2022 and 2021 was $36.6 million and $38.6 million, respectively.