Other Income, Net

12 Months Ended

Dec. 31, 2024

Other Income and Expenses [Abstract]

The following table sets forth the items in Other income, net for the periods presented below:


	Year Ended December 31,
(in thousands)	2024		2023		2022
Interest income	$	21,093	$	13,007	$	3,000
Property insurance recoveries	9,781		11,807		10,632
Gain on deconsolidation of joint venture	3,117		6,544		—
Patronage income	3,604		3,046		4,457
Gain on sale of assets and business, net	—		5,782		1,685
Biofuel Producer Program funds	—		2,190		17,643



Other	4,616		8,107		(3,594)
Total	$	42,211	$	50,483	$	33,823

Individually significant items included in the table above are:

Interest income - The vast majority of interest income recorded by the Company was due to the amount of cash and cash equivalents on hand in all periods presented.

Property insurance recoveries- In 2024, property insurance recoveries consisted of $4.9 million related to a prior period bin collapse at an Indiana grain facility, $3.1 million from a prior period incident at the Company's port facility in Texas, and $1.7 million related to a prior period fire at a Michigan grain asset. In 2023, property insurance recoveries consisted of $5.5 million related to a prior period fire at a Michigan grain asset, $2.7 million related to a prior period bin collapse at a Indiana grain facility in the prior year, and $1.5 million related to a prior period conveyor collapse at a Louisiana grain asset. In 2022, property insurance recoveries consisted of $5.0 million related to a prior period bin collapse at an Indiana grain facility,$3.0 million relating to a prior period incident at the Company's port facility in Texas, and $2.6 million related to a prior period conveyor collapse at a Louisiana grain asset.

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 deemed to have lost control of the entity and therefore deconsolidated ELEMENT from its Consolidated Financial Statements. As a result of these activities, the Company recognized a gain on deconsolidation. See footnote 19 for additional information.

Patronage income - As part of the Company's normal operations it relies heavily on short-term lines of credit in order to support working capital needs in addition to long-term debt presented on the Consolidated Balance Sheets. As part of these programs the Company receives patronage income from its lenders.

Gain on sale of assets and businesses - In 2023, the vast majority of the gain was from the sale of a Nebraska grain facility of $5.6 million. In 2022, the gain consisted of several individually immaterial items.

Biofuel Producer Program funds - The USDA as a part of the Biofuel Producer Program, created under CARES Act, provided funding to support biofuel producers who faced unexpected market losses due to the COVID-19 pandemic. In 2023, the Company received proceeds of $2.2 million under this program, of which $0.8 million was attributable to noncontrolling interest. In 2022, TAMH and ELEMENT received proceeds of $13.3 million and $4.3 million, respectively. Of these proceeds, $8.7 million was attributable to noncontrolling interest.