Goodwill

9 Months Ended

Sep. 30, 2023

Intangible Asset Disclosure Text Block [Abstract]

Goodwill

Goodwill

Changes in the carrying amount of goodwill (in thousands):

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Total
Balance at December 31, 2022
Goodwill	$	1,556,855	$	320,807	$	143,379	$	2,021,041
Accumulated impairment losses	(15,914)		(3,170)		(31,580)		(50,664)
	1,540,941		317,637		111,799		1,970,377
Goodwill acquired during year	3,247		626,202		—		629,449
Measurement period adjustments	(21,270)		(61,735)		(66)		(83,071)
Out-of-period correction (1)	(85,144)		—		—		(85,144)
Foreign currency translation	13,060		3,693		(988)		15,765
Balance at September 30, 2023
Goodwill	1,466,748		888,967		142,325		2,498,040
Accumulated impairment losses	(15,914)		(3,170)		(31,580)		(50,664)
	$	1,450,834	$	885,797	$	110,745	$	2,447,376

(1)    As disclosed in Note 2(g), the immaterial out-of-period correction made during the quarter ended July 1, 2023 resulted in a reduction of goodwill recorded associated with the FASA Acquisition of approximately $85.1 million, which is included in the Feed Ingredients segment.