Business Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Business Segments

Business Segments (in thousands):

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Three Months Ended September 30, 2023
Net Sales	$	1,047,796	$	455,744	$	121,664	$	—	$	1,625,204
Cost of sales and operating expenses	804,312		338,208		96,213		—		1,238,733
Gross Margin	243,484		117,536		25,451		—		386,471
Loss/(gain) on sale of assets	833		117		(21)		—		929
Selling, general and administrative expenses	80,985		31,463		5,666		19,583		137,697
Acquisition and integration costs	—		—		—		3,430		3,430
Change in fair value of contingent consideration	(5,559)		—		—		—		(5,559)
Depreciation and amortization	88,954		25,418		9,026		2,596		125,994
Equity in net income of Diamond Green Diesel	—		—		54,389		—		54,389
Segment operating income/(loss)	78,271		60,538		65,169		(25,609)		178,369
Equity in net income of other unconsolidated subsidiaries	1,534		—		—		—		1,534
Segment income/(loss)	79,805		60,538		65,169		(25,609)		179,903
Total other expense									(67,186)
Income before income taxes									$	112,717

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Three Months Ended October 1, 2022
Net Sales	$	1,273,142	$	347,902	$	126,555	$	—	$	1,747,599
Cost of sales and operating expenses	1,012,899		256,557		101,781		—		1,371,237
Gross Margin	260,243		91,345		24,774		—		376,362
Gain on sale of assets	(2,290)		(809)		(17)		—		(3,116)
Selling, general and administrative expenses	63,973		23,909		1,724		15,474		105,080
Acquisition and integration costs	—		—		—		4,503		4,503
Depreciation and amortization	80,679		14,408		7,284		2,607		104,978
Equity in net income of Diamond Green Diesel	—		—		103,414		—		103,414
Segment operating income/(loss)	117,881		53,837		119,197		(22,584)		268,331
Equity in net income of other unconsolidated subsidiaries	2,301		—		—		—		2,301
Segment income/(loss)	120,182		53,837		119,197		(22,584)		270,632
Total other expense									(43,116)
Income before income taxes									$	227,516

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Nine Months Ended September 30, 2023
Net Sales	$	3,426,950	$	1,328,229	$	418,818	$	—	$	5,173,997
Cost of sales and operating expenses	2,630,797		999,418		335,193		—		3,965,408
Gross Margin	796,153		328,811		83,625		—		1,208,589
Loss/(gain) on sale of assets	813		99		(51)		—		861
Selling, general and administrative expenses	233,082		98,269		16,829		61,734		409,914
Restructuring and asset impairment charges	92		5,328		—		—		5,420
Acquisition and integration costs	—		—		—		12,158		12,158
Change in fair value of contingent consideration	(13,058)		—		—		—		(13,058)
Depreciation and amortization	261,849		68,336		25,986		7,915		364,086
Equity in net income of Diamond Green Diesel	—		—		361,690		—		361,690
Segment operating income/(loss)	313,375		156,779		402,551		(81,807)		790,898
Equity in net income of other unconsolidated subsidiaries	3,503		—		—		—		3,503
Segment income/(loss)	316,878		156,779		402,551		(81,807)		794,401
Total other expense									(168,946)
Income before income taxes									$	625,455
Segment assets at September 30, 2023	$	4,690,902	$	2,617,325	$	2,491,075	$	1,011,035	$	10,810,337

	Feed Ingredients		Food Ingredients		Fuel Ingredients		Corporate		Total
Nine Months Ended October 1, 2022
Net Sales	$	3,322,927	$	1,071,897	$	369,297	$	—	$	4,764,121
Cost of sales and operating expenses	2,522,728		807,833		292,760		—		3,623,321
Gross Margin	800,199		264,064		76,537		—		1,140,800
Gain on sale of assets	(3,595)		(891)		(74)		—		(4,560)
Selling, general and administrative expenses	185,045		73,608		9,921		46,314		314,888
Restructuring and asset impairment charges	8,557		—		—		—		8,557
Acquisition and integration costs	—		—		—		13,634		13,634
Depreciation and amortization	203,967		44,307		20,894		8,169		277,337
Equity in net income of Diamond Green Diesel	—		—		248,898		—		248,898
Segment operating income/(loss)	406,225		147,040		294,694		(68,117)		779,842
Equity in net income of other unconsolidated subsidiaries	5,933		—		—		—		5,933
Segment income/(loss)	412,158		147,040		294,694		(68,117)		785,775
Total other expense									(89,283)
Income before income taxes									$	696,492
Segment assets at December 31, 2022	$	4,866,351	$	1,251,473	$	2,307,199	$	777,347	$	9,202,370