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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Estimated Fair Value of Company's Commodity Derivative Instruments that Require Cash Collateral The net asset or liability positions of these derivatives (net of their cash collateral) are determined on a counterparty-by-counterparty basis and are included within Condensed Consolidated Balance Sheets in Commodity derivative assets (liabilities) - current or if long-term in nature, Other assets, net or Other long-term liabilities:
(in thousands)June 30, 2025December 31, 2024June 30, 2024
Cash collateral paid (received)
$5,506 $39,025 $(25,316)
Fair value of derivatives35,489 8,696 75,903 
Net derivative asset position
$40,995 $47,721 $50,587 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents, on a gross basis, current and non-current commodity derivative assets and liabilities:
June 30, 2025
(in thousands)Commodity Derivative Assets - CurrentCommodity Derivative Assets - NoncurrentCommodity Derivative Liabilities - CurrentCommodity Derivative Liabilities - NoncurrentTotal
Commodity derivative assets$180,031 $6,554 $9,558 $34 $196,177 
Commodity derivative liabilities(37,600)(35)(88,811)(4,207)(130,653)
Cash collateral paid
5,506 — — — 5,506 
Balance sheet line item totals$147,937 $6,519 $(79,253)$(4,173)$71,030 

December 31, 2024
(in thousands)Commodity Derivative Assets - CurrentCommodity Derivative Assets - NoncurrentCommodity Derivative Liabilities - CurrentCommodity Derivative Liabilities - NoncurrentTotal
Commodity derivative assets$165,038 $1,441 $10,158 $28 $176,665 
Commodity derivative liabilities(55,262)(28)(69,924)(425)(125,639)
Cash collateral paid
39,025 — — — 39,025 
Balance sheet line item totals$148,801 $1,413 $(59,766)$(397)$90,051 

June 30, 2024
(in thousands)Commodity Derivative Assets - CurrentCommodity Derivative Assets - NoncurrentCommodity Derivative Liabilities - CurrentCommodity Derivative Liabilities - NoncurrentTotal
Commodity derivative assets$276,764 $8,141 $12,625 $35 $297,565 
Commodity derivative liabilities(71,259)(96)(141,472)(7,756)(220,583)
Cash collateral received
(25,316)— — — (25,316)
Balance sheet line item totals$180,189 $8,045 $(128,847)$(7,721)$51,666 
Company's Condensed Consolidated Statement of Income gains and location of line items
The net pretax gains and losses on commodity derivatives not designated as hedging instruments included in the Company’s Condensed Consolidated Statements of Operations and the line items in which they are located are as follows:

 Three months ended June 30,Six months ended June 30,
(in thousands)2025202420252024
(Losses) gains on commodity derivatives included in Cost of sales and merchandising revenues
$(35,502)$(6,168)$14,498 $13,173 
The recording of gains and losses on the interest rate derivatives and the financial statement line in which they are located are as follows:

Three months ended June 30,Six months ended June 30,
(in thousands)2025202420252024
Derivatives designated as hedging instruments
Interest rate derivative (losses) gains included in Other comprehensive income
$(4,150)$(120)$(10,970)$4,723 
Interest rate derivative gains included in Interest expense, net
2,077 3,203 4,151 6,588 
Interest rate derivative gains included in Other income, net
— — — 568 
Schedule of Outstanding Interest Rate Derivatives
The Company's volumes of commodity derivative contracts outstanding (on a gross basis) are as follows:
June 30, 2025December 31, 2024June 30, 2024
(in thousands)Non-exchange TradedExchange TradedNon-exchange TradedExchange TradedNon-exchange TradedExchange Traded
Metric Tons:
Corn13,521 5,229 15,423 5,456 11,674 4,827 
Soybeans876 1,003 886 637 909 1,166 
Wheat2,055 2,781 2,409 3,365 2,749 3,011 
Oats519 14 313 5 464 2 
Other2,554 1,034 3,058 402 3,258 628 
Total metric tons19,525 10,061 22,089 9,865 19,054 9,634 
Gallons:
Ethanol209,415 37,086 280,999 99,162 241,555 75,306 
Propane— 74,802 — 118,986 — 113,274 
Other91,684 1,765 53,020 1,440 53,698 3,780 
Total gallons301,099 113,653 334,019 219,588 295,253 192,360 
Schedule of Fair Value of Interest Rate Derivative Liabilities
The Company had recorded the following amounts for the fair value of the interest rate derivatives:

(in thousands)June 30, 2025December 31, 2024June 30, 2024
Derivatives designated as hedging instruments
Interest rate contracts included in Other current assets$5,950 $6,761 $9,961 
Interest rate contracts included in Other assets13,500 22,723 22,788 
Interest rate contracts included in Other long-term liabilities(1,266)(301)— 
Schedule of Derivative Instruments
Outstanding interest rate derivatives, as of June 30, 2025, are as follows:
Interest Rate Hedging InstrumentYear EnteredYear of Maturity Notional Amount
(in millions)		Description


Interest Rate
Swap20192025$42.2 Interest rate component of debt - accounted for as a hedge2.4%
Swap20192025$84.4 Interest rate component of debt - accounted for as a hedge2.3%
Swap20192025$42.2 Interest rate component of debt - accounted for as a hedge2.4%
Swap20202030$50.0 Interest rate component of debt - accounted for as a hedge0.8%
Swap20202030$50.0 Interest rate component of debt - accounted for as a hedge0.8%
Swap20222028$15.0 Interest rate component of debt - accounted for as a hedge3.3%
Swap20222029$100.0 Interest rate component of debt - accounted for as a hedge2.0%
Swap20222029$50.0 Interest rate component of debt - accounted for as a hedge2.4%
Swap20232031$50.0 Interest rate component of debt - accounted for as a hedge2.9%
Swap20242029$35.0 Interest rate component of debt - accounted for as a hedge4.2%
Swap20252026$50.0 Interest rate component of debt - accounted for as a hedge3.5%