Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Reconciliation of Beginning and Ending Balances for the Company's Fair Value Measurements Using Level 3 Inputs

A reconciliation of beginning and ending balances for the Company’s recurring fair value measurements using Level 3 inputs is as follows: 

	Convertible Preferred Securities
(in thousands)	2022		2021
Assets at January 1,	$	11,618	$	8,849
Additional investments	4,655		5,401
Gains (losses) included in Other income, net	5		(2,632)
Assets at December 31,	$	16,278	$	11,618

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the Company's assets and liabilities measured at fair value on a recurring basis at December 31, 2022 and 2021:

(in thousands)	December 31, 2022
Assets (liabilities)	Level 1		Level 2		Level 3		Total
Commodity derivatives, net (a)	$	54,516	$	143,402	$	—	$	197,918
Provisionally priced contracts (b)	(20,960)		(115,377)		—		(136,337)
Convertible preferred securities (c)	—		—		16,278		16,278
Other assets and liabilities (d)	(209)		31,400		—		31,191
Total	$	33,347	$	59,425	$	16,278	$	109,050

(in thousands)	December 31, 2021
Assets (liabilities)	Level 1		Level 2		Level 3		Total
Commodity derivatives, net (a)	$	128,407	$	156,698	$	—	$	285,105
Provisionally priced contracts (b)	43,944		(89,797)		—		(45,853)
Convertible preferred securities (c)	—		—		11,618		11,618
Other assets and liabilities (d)	2,784		(7,361)		—		(4,577)
Total	$	175,135	$	59,540	$	11,618	$	246,293

(a)Includes associated cash posted/received as collateral.

(b)Included in "Provisionally priced contracts" are those instruments based only on underlying futures values (Level 1) and delayed price contracts (Level 2).

(c)Recorded in Other assets on the Company’s Consolidated Balance Sheets related to certain available for sale securities.

(d)Included in "Other assets and liabilities" are assets held by the Company to fund deferred compensation plans and foreign exchange derivative contracts (Level 1), as well as interest rate derivatives (Level 2).

Schedule of Summarized Information About Level 3 Fair Value Measurements

The following tables summarize quantitative information about the Company's Level 3 fair value measurements as of December 31, 2022 and 2021:

Quantitative Information about Recurring Level 3 Fair Value Measurements
(in thousands)	Fair Value as of 12/31/2022		Valuation Method	Unobservable Input	Weighted Average
Convertible preferred securities (a)	$	16,278	Implied based on market prices	N/A	N/A

(in thousands)	Fair Value as of 12/31/2021		Valuation Method	Unobservable Input	Weighted Average
Convertible preferred securities (a)	$	11,618	Implied based on market prices	N/A	N/A

(a) The Company considers observable price changes and other additional market data available to estimate fair value, including additional capital raising, internal valuation models, progress towards key business milestones, and other relevant market data points.

Quantitative Information about Non-Recurring Level 3 Fair Value Measurements
(in thousands)	Fair Value as of 12/31/2022		Valuation Method	Unobservable Input	Weighted Average
Grain assets (a)	$	9,000	Third party appraisal	Various	N/A
(in thousands)	Fair Value as of 12/31/2021		Valuation Method	Unobservable Input	Weighted Average
Frac sand assets (b)	$	2,946	Third party appraisal	Various	N/A
Real property (c)	700		Market approach	Various	N/A

(a) The Company recognized impairment charges on a Nebraska grain asset. The fair value of the asset was determined using third-party appraisals. These measures are considered Level 3 inputs on a nonrecurring basis.

(b) The Company recognized impairment charges on long lived assets related to its frac sand business. The fair value of the assets were determined using prior transactions and third-party appraisals. These measures are considered Level 3 inputs on a nonrecurring basis.

(c) The Company recognized impairment charges on certain Trade assets and measured the fair value using Level 3 inputs on a nonrecurring basis. The fair value of the assets were determined using prior transactions in the local market and a recent sale of comparable Trade segment assets.