Segment Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s operations include six reportable business segments that are distinguished primarily on the basis of products and services offered. The Grain business includes grain merchandising, the operation of terminal grain elevator facilities and the investments in Lansing Trade Group, LLC (“LTG”) and the Thompsons Limited joint ventures. The Ethanol business purchases and sells ethanol and also manages the ethanol production facilities organized as limited liability companies, one of which is consolidated and three of which are investments accounted for under the equity method, and also has various service contracts for these investments. Rail operations include the leasing, marketing and fleet management of railcars and locomotives, railcar repair and metal fabrication. The Plant Nutrient business manufactures and distributes agricultural inputs, primarily fertilizer, to dealers and farmers. Turf & Specialty operations include the production and distribution of turf care and corncob-based products. The Retail business operates large retail stores, a specialty food market, a distribution center and a lawn and garden equipment sales and service facility. Included in “Other” are the corporate level amounts not attributable to an operating segment.

The segment information below includes the allocation of expenses shared by one or more operating segments. Although management believes such allocations are reasonable, the operating information does not necessarily reflect how such data might appear if the segments were operated as separate businesses. Inter-segment sales are made at prices comparable to normal, unaffiliated customer sales. Capital expenditures include additions to property, plant and equipment, software and intangible assets.

During the first quarter, approximately $28 million of assets specific to the agronomy business that was included in the purchase of certain assets of Green Plains Grain Company, LLC in the fourth quarter of 2012 were reclassified from the Grain segment to the Plant Nutrient Segment. Corresponding items of segment information have been reclassified to conform to current year presentation.

	Year ended December 31,
(in thousands)	2013		2012		2011
Revenues from external customers
Grain	$	3,617,943	$	3,293,632	$	2,849,358
Ethanol	831,965		742,929		641,546
Plant Nutrient	708,654		797,033		690,631
Rail	164,794		156,426		107,459
Turf & Specialty	140,512		131,026		129,716
Retail	140,706		150,964		157,621
Total	$	5,604,574	$	5,272,010	$	4,576,331

	Year ended December 31,
(in thousands)	2013		2012		2011
Inter-segment sales
Grain	$	1	$	409	$	2
Plant Nutrient	17,537		16,135		16,527
Rail	427		622		593
Turf & Specialty	2,255		2,350		2,062
Total	$	20,220	$	19,516	$	19,184

	Year ended December 31,
(in thousands)	2013			2012			2011
Interest expense (income)
Grain	$	9,567		$	12,174		$	13,277
Ethanol	1,038			759			1,048
Plant Nutrient	3,312			2,832			3,517
Rail	5,544			4,807			5,677
Turf & Specialty	1,237			1,233			1,381
Retail	689			776			899
Other	(527		)	(426		)	(543		)
Total	$	20,860		$	22,155		$	25,256

	Year ended December 31,
(in thousands)	2013		2012			2011
Equity in earnings (loss) of affiliates
Grain	$	33,122	$	29,080		$	23,748
Ethanol	35,583		(12,598		)	17,715
Plant Nutrient	—		5			(13		)
Total	$	68,705	$	16,487		$	41,450

	Year ended December 31,
(in thousands)	2013		2012		2011
Other income, net
Grain	$	2,120	$	2,548	$	2,462
Ethanol	399		53		159
Plant Nutrient	1,093		1,917		704
Rail	7,666		7,136		2,866
Turf & Specialty	690		784		880
Retail	501		554		638
Other	2,407		1,733		213
Total	$	14,876	$	14,725	$	7,922

	Year ended December 31,
(in thousands)	2013			2012			2011
Income (loss) before income taxes
Grain	$	46,805		$	63,597		$	87,288
Ethanol	50,600			(3,720		)	23,344
Plant Nutrient	27,275			39,254			38,267
Rail	42,785			42,841			9,778
Turf & Specialty	4,744			2,216			2,000
Retail	(7,534		)	(3,951		)	(1,520		)
Other	(20,925		)	(16,189		)	(12,998		)
Noncontrolling interests	5,763			(3,915		)	1,719
Total	$	149,513		$	120,133		$	147,878

	Year ended December 31,
(in thousands)	2013		2012		2011
Identifiable assets
Grain (a)	$	921,914	$	1,076,986	$	883,395
Ethanol (b)	229,797		206,975		148,975
Plant Nutrient (b)	268,238		257,980		240,543
Rail (b)	312,654		289,467		246,188
Turf & Specialty (b)	89,939		82,683		69,487
Retail (c)	44,910		51,772		52,018
Other (d)	406,104		216,441		93,517
Total	$	2,273,556	$	2,182,304	$	1,734,123

(a) Decrease related to impact of prices on receivables and commodity derivative assets and lower inventory levels

(b) See Note 12. Business Acquisitions for identifiable assets acquired during the periods presented

(c) Decrease related to closing of the Woodville store in the first quarter of 2013 and asset impairments described in Note 3. Property, Plant, and Equipment

(d) Change driven by increase in cash and cash equivalents and capitalized software

	Year ended December 31,
(in thousands)	2013		2012		2011
Capital expenditures
Grain	$	8,535	$	30,178	$	24,284
Ethanol	4,052		1,966		—
Plant Nutrient	17,094		18,038		13,296
Rail	4,135		3,896		1,478
Turf & Specialty	6,563		5,043		2,089
Retail	2,944		2,794		1,230
Other	3,463		7,102		1,785
Total	$	46,786	$	69,017	$	44,162

	Year ended December 31,
(in thousands)	2013		2012		2011
Acquisition of businesses, net of cash acquired and investments in affiliates
Grain	$	51,544	$	116,888	$	—
Ethanol	—		77,400		—
Plant Nutrient	—		15,286		2,386
Rail	7,804		—		—
Turf & Specialty	4,103		10,683		—
Other	1,050		—		100
Total	$	64,501	$	220,257	$	2,486

	Year ended December 31,
(in thousands)	2013		2012		2011
Depreciation and amortization
Grain (e)	$	15,620	$	9,554	$	9,625
Ethanol (f)	5,909		5,003		382
Plant Nutrient	14,143		12,014		9,913
Rail	12,031		15,929		14,780
Turf & Specialty	3,070		2,117		1,801
Retail	3,119		3,002		2,770
Other	1,415		1,358		1,566
Total	$	55,307	$	48,977	$	40,837

(e) Increase driven by acquisition of GPG in December 2012

(f) Increase driven by acquisition of TADE in May 2012

Grain sales for export to foreign markets amounted to $220 million, $261.8 million and $164.8 million in 2013, 2012 and 2011, respectively - the majority of which were sales to Canadian customers. Revenues from leased railcars in Canada totaled $8.7 million, $10.6 million and $13.3 million in 2013, 2012 and 2011, respectively. The net book value of the leased railcars in Canada for the years ended December 31, 2013 and 2012 was $18.3 million and $38.5 million, respectively. Lease revenue on railcars in Mexico totaled $0.4 million in 2013, $0.4 million in 2012 and $0.4 million in 2011.