Investment in Unconsolidated Subsidiary (Tables)

6 Months Ended

Jun. 29, 2024

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

Selected financial information for the Company’s DGD Joint Venture is as follows:

(in thousands)	June 30, 2024		December 31, 2023
Assets:
Total current assets	$	1,849,534	$	1,877,430
Property, plant and equipment, net	3,888,370		3,838,800
Other assets	122,629		89,697
Total assets	$	5,860,533	$	5,805,927
Liabilities and members' equity:
Total current portion of long term debt	$	29,251	$	278,639
Total other current liabilities	404,090		417,918
Total long term debt	722,346		737,097
Total other long term liabilities	17,189		16,996
Total members' equity	4,687,657		4,355,277
Total liabilities and members' equity	$	5,860,533	$	5,805,927

	Three Months Ended				Six Months Ended
(in thousands)	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Revenues:
Operating revenues	$	1,184,076	$	2,246,111	$	2,595,191	$	3,926,161
Expenses:
Total costs and expenses less lower of cost or market inventory valuation adjustment and depreciation, amortization and accretion expense	1,014,927		1,751,315		2,174,283		3,172,719
Lower of cost or market (LCM) inventory valuation adjustment	15,866		—		37,504		—
Depreciation, amortization and accretion expense	61,910		58,315		127,200		116,922
Total costs and expenses	1,092,703		1,809,630		2,338,987		3,289,641
Operating income	91,373		436,481		256,204		636,520
Other income	6,058		2,121		9,278		4,162
Interest and debt expense, net	(9,037)		(12,674)		(20,279)		(26,080)
Income before income tax expense	88,394		425,928		$	245,203	$	614,602
Income tax benefit	—		—		(29)		—
Net income	$	88,394	$	425,928	$	245,232	$	614,602