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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Reportable segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker ("CODM"), who is the Company’s Chief Executive Officer, in deciding how to allocate resources and in assessing performance. The CODM allocates resources to and evaluates the financial performance of each operating segment primarily based on Income (loss) before income taxes from continuing operations. The operating and reportable segment structure provides alignment between business strategies and operating results. 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 Nutrient & Industrial business manufactures and distributes plant nutrient products such as agricultural inputs, primarily fertilizers and turf care products along with industrial products such as deicers, dust abatement solutions, and corncob-cased products. Other includes corporate income and expense and cost for functions that provide support and services to the operating segments, as well as other elimination and consolidation adjustments.

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, 2024
(in thousands)TradeRenewablesNutrient & IndustrialTotal
Sales and merchandising revenues$7,622,077 $2,802,330 $833,141 $11,257,548 
Cost of sales and merchandising revenues7,218,395 2,633,179 712,048 10,563,622 
Operating, administrative and general expenses316,390 35,493 103,238 455,121 
Interest expense24,587 2,841 6,311 33,739 
Other income, net (a)
28,728 8,678 6,444 43,850 
Segment income before income taxes from continuing operations$91,433 $139,495 $17,988 $248,916 
less: Corporate expenses48,159 
Income before income taxes from continuing operations$200,757 
(a) Other income, net for each reportable segment includes:
Trade - interest income, property insurance recoveries, patronage income, amongst other items.
Renewables - interest income, a gain on the deconsolidation of the ELEMENT joint venture, patronage income, amongst other items.
Nutrient & Industrial - interest income, patronage income, amongst other items.
 
Year Ended December 31, 2023
(in thousands)TradeRenewablesNutrient & IndustrialTotal
Sales and merchandising revenues$10,426,083 $3,380,632 $943,397 $14,750,112 
Cost of sales and merchandising revenues10,016,133 3,178,235 810,381 14,004,749 
Operating, administrative and general expenses308,470 32,737 103,342 444,549 
Asset impairment (a)
— 87,156 — 87,156 
Interest expense35,234 6,385 7,016 48,635 
Other income, net (b)
29,988 15,056 2,391 47,435 
Segment income before income taxes from continuing operations$96,234 $91,175 $25,049 $212,458 
less: Corporate expenses42,895 
Income before income taxes from continuing operations$169,563 
(a) Asset impairment of $87.2 million as the Company recorded an impairment charge related to ELEMENT in the first quarter of 2023, as the plant faced operational and market-based challenges which were exacerbated by a shift in the California Low Carbon Fuel Standard credit markets and high western corn basis.
(b) Other income, net for each reportable segment includes:
Trade - interest income, property insurance recoveries, gains on sales of assets & businesses, patronage income, amongst other items.
Renewables - interest income, a gain on the deconsolidation of the ELEMENT joint venture, patronage income, Biofuel Producer Program funds, amongst other items.
Nutrient & Industrial - interest income, patronage income, amongst other items.
 
Year Ended December 31, 2022
(in thousands)TradeRenewablesNutrient & IndustrialTotal
Sales and merchandising revenues$13,047,537 $3,178,539 $1,099,308 $17,325,384 
Cost of sales and merchandising revenues12,639,830 3,051,544 949,846 16,641,220 
Operating, administrative and general expenses273,592 30,730 106,003 410,325 
Asset impairment (a)
9,000 — — 9,000 
Interest expense42,551 8,775 7,298 58,624 
Other income, net (b)
12,661 20,731 3,001 36,393 
Segment income before income taxes from continuing operations$95,225 $108,221 $39,162 $242,608 
less: Corporate expenses48,026 
Income before income taxes from continuing operations$194,582 
(a) Asset impairment of $9.0 million as the Company recorded an impairment charge related to a Nebraska grain asset.
(b) Other income, net for each reportable segment includes:
Trade - interest income, property insurance recoveries, gains on sales of assets & businesses, patronage income, amongst other items.
Renewables - interest income, patronage income, Biofuel Producer Program funds, amongst other items.
Nutrient & Industrial - interest income, patronage income, amongst other items.
Year Ended December 31, 2024
(in thousands)TradeRenewablesNutrient & IndustrialOtherTotal
Depreciation and amortization (a)
$40,505 $49,705 $32,488 $5,106 $127,804 
Purchases of property, plant and equipment and capitalized software59,240 49,808 36,116 4,023 149,187 
Interest income (b)
12,499 5,075 3,519 — 21,093 
(a) Depreciation and amortization disclosed by reportable segment is included within both Cost of sales and merchandising revenues and Operating, administrative and general expenses within the Consolidated Statement of Operations.
(b) Interest income is recorded in Other income, net within the Consolidated Statement of Operations.
Year Ended December 31, 2023
(in thousands)TradeRenewablesNutrient & IndustrialOtherTotal
Depreciation and amortization (a)
$36,109 $51,408 $29,268 $8,321 $125,106 
Purchases of property, plant and equipment and capitalized software49,728 54,546 42,524 3,645 150,443 
Interest income (b)
6,730 5,087 1,163 27 13,007 
(a) Depreciation and amortization disclosed by reportable segment is included within both Cost of sales and merchandising revenues and Operating, administrative and general expenses within the Consolidated Statement of Operations.
(b) Interest income is recorded in Other income, net within the Consolidated Statement of Operations.
Year Ended December 31, 2022
(in thousands)TradeRenewablesNutrient & IndustrialOtherTotal
Depreciation and amortization (a)
$35,953 $63,458 $26,634 $8,697 $134,742 
Purchases of property, plant and equipment and capitalized software29,433 42,734 34,678 1,439 108,284 
Interest income (b)
2,297 589 4 110 3,000 
(a) Depreciation and amortization disclosed by reportable segment is included within both Cost of sales and merchandising revenues and Operating, administrative and general expenses within the Consolidated Statement of Operations.
(b) Interest income is recorded in Other income, net within the Consolidated Statement of Operations.
December 31,
(in thousands)202420232022
Identifiable assets
Trade$2,279,698 $2,164,578 $3,166,813 
Renewables679,430 763,203 835,860 
Nutrient & Industrial499,443 434,674 530,596 
Other662,743 492,552 74,727 
Total assets$4,121,314 $3,855,007 $4,607,996 
Year Ended December 31,
(in thousands)202420232022
Revenues from external customers by geographic region
United States$8,103,367 $9,772,619 $12,503,330 
Canada517,131 694,774 1,199,487 
Mexico392,142 533,012 493,111 
Egypt124,905 462,068 573,371 
Switzerland176,358 373,305 373,737 
Other1,943,645 2,914,334 2,182,348 
   Total$11,257,548 $14,750,112 $17,325,384 

Substantially all of the Company's long-lived assets are located within the United States. The Company had approximately $45.8 million and $36.1 million in long-lived assets abroad at December 31, 2024 and 2023, respectively with substantially all of the foreign long-lived assets located within Canada for both periods presented.