Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2012

Related Party Transactions [Abstract]

Company's investment balance in each of its equity method investees by entity

The following table presents the Company’s investment balance in each of its equity method investees by entity:

(in thousands)	September 30, 2012		December 31, 2011		September 30, 2011
The Andersons Albion Ethanol LLC	$	30,625	$	32,829	$	31,764
The Andersons Clymers Ethanol LLC	34,962		40,001		40,318
The Andersons Marathon Ethanol LLC	36,153		43,019		39,445
Lansing Trade Group, LLC	86,007		81,209		75,693
Other	2,310		2,003		1,898
Total	$	190,057	$	199,061	$	189,118

Income (loss) earned from the Company's equity method investments by entity

The following table summarizes income (losses) earned from the Company’s equity method investments by entity:

(in thousands)	% ownership at September 30, 2012 (direct and indirect)	Three months ended September 30,						Nine months ended September 30,
		2012			2011			2012			2011
The Andersons Albion Ethanol LLC	50%	$	(622	)	$	1,190		$	(204	)	$	3,720
The Andersons Clymers Ethanol LLC	38%	(972		)	211			(1,985		)	3,130
The Andersons Marathon Ethanol LLC	50%	(1,629		)	1,868			(5,116		)	4,516
Lansing Trade Group, LLC	51% *	9,187			6,518			22,347			18,030
Other	7%-33%	63			(56		)	364			93
Total		$	6,027		$	9,731		$	15,406		$	29,489

*    This does not consider restricted management units which once vested will reduce the ownership percentage by approximately 2%.

Schedule of summarized unaudited financial information of equity method investment

The following table presents the required summarized unaudited financial information of this investment for the three and nine months ended September 30, 2012 and 2011.

(in thousands)	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012	2011
Sales	$	1,680,170	$	1,477,384	4,874,347	4,529,988
Gross profit	50,412		35,867		126,330	103,225
Income from continuing operations	20,108		13,925		49,014	39,584
Net income	18,545		12,918		47,486	37,144
Net income attributable to LTG	17,927		12,864		44,518	35,114

Schedule of aggregate summarized financial information of subsidiaries

The following table sets forth the related party transactions entered into for the time periods presented:

(in thousands)	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Sales revenues	$	234,258	$	177,515	$	654,308	$	594,351
Service fee revenues (a)	5,329		5,755		16,201		16,774
Purchases of product	173,519		175,210		467,841		463,989
Lease income (b)	1,695		1,445		5,428		4,112
Labor and benefits reimbursement (c)	3,192		2,730		8,943		8,114
Other expenses (d)	279		59		615		104
Accounts receivable at September 30 (e)	27,548		8,615
Accounts payable at September 30 (f)	18,474		18,857

(a) Service fee revenues include management fee, corn origination fee, ethanol and DDG marketing fees, and other commissions.

(b) Lease income includes the lease of the Company’s Albion, Michigan and Clymers, Indiana grain facilities as well as certain railcars to the various ethanol LLCs and IANR.

(c) The Company provides all operational labor to the ethanol LLCs and charges them an amount equal to the Company’s costs of the related services.

(d) Other expenses include payments to IANR for repair shop rent and use of their railroad reporting mark, payment to LTG for the lease of railcars and other various expenses.

(e) Accounts receivable represents amounts due from related parties for sales of corn, leasing revenue and service fees.

(f) Accounts payable represents amounts due to related parties for purchases of ethanol.