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Other Income, Net
 6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Other Income, Net Other Income, net
The following table sets forth the items in Other income, net within the Condensed Consolidated Statements of Operations:
Three months ended June 30,Six months ended June 30,
(in thousands)2024202320242023
Interest income$3,712 $1,708 $8,394 $3,175 
Patronage income537 78 3,406 2,094 
Gain on deconsolidation of joint venture— 6,544 3,117 6,544 
Property insurance recoveries— 2,180 — 3,183 
Other951 1,931 1,811 5,449 
Total$5,200 $12,441 $16,728 $20,445 

Individually significant items included in the table above are:

Interest income - In 2024, the vast majority of interest income recorded by the Company was due to the amount of cash and cash equivalents on hand.

Patronage income - As a part of the Company’s normal operations it relies on short-term lines of credit to support working capital needs in addition to long-term debt. The Company receives patronage income from its lenders as a part of these programs.

Gain on deconsolidation of joint venture - On April 18, 2023, ELEMENT was placed into receivership. As the receiver took control of ELEMENT, under the VIE consolidation model, the Company was deemed to have lost control of the entity and therefore deconsolidated ELEMENT from its Condensed Consolidated Financial Statements. As a result of these activities, the Company recognized a gain on deconsolidation in the second quarter of 2023. The Company recognized an additional $3.1 million gain in the first quarter of 2024 as the amount of cash distributed to the Company related to its receivables from ELEMENT exceeded management's estimate at the time of deconsolidation.
Property insurance recoveries - In 2023, property insurance recoveries consisted of proceeds of $2.2 million relating to a conveyor collapse in Delhi, Louisiana. The remaining proceeds consists of several individually insignificant amounts in the ordinary course of business.