Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s operations include five 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 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 is consolidated and three are investments accounted for under the equity method. There are various service contracts for these investments. Rail operations include the leasing, marketing and fleet management of railcars and other assets, railcar repair and metal fabrication. The Plant Nutrient business manufactures and distributes agricultural inputs, primarily fertilizer, to dealers and farmers, along with 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 attributed to an operating segment.

In the first quarter of 2015, the Plant Nutrient Group merged with the Turf & Specialty Group, as announced in the fourth quarter of 2014. Management has adjusted its internal reporting structure to reflect this organizational change and the result of this merger is one reportable business segment, referred to as the Plant Nutrient Group. All prior periods have been restated to reflect this change.

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. The Company does not have any customers who represent 10 percent or more of total revenues.

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2015		2014		2015		2014
Revenues from external customers
Grain	$	625,316	$	656,004	$	1,210,478	$	1,239,163
Ethanol	139,432		226,388		277,612		415,208
Plant Nutrient	357,186		354,808		511,137		506,163
Rail	45,523		33,409		89,739		85,711
Retail	41,035		41,473		69,615		69,131
Total	$	1,208,492	$	1,312,082	$	2,158,581	$	2,315,376

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2015		2014		2015		2014
Inter-segment sales
Grain	$	440	$	3,362	$	2,129	$	3,362
Plant Nutrient	148		188		465		478
Rail	243		109		424		218
Total	$	831	$	3,659	$	3,018	$	4,058

	Three months ended June 30,						Six months ended June 30,
(in thousands)	2015			2014			2015			2014
Income (loss) before income taxes
Grain	$	3,149		$	10,355		$	3,892		$	21,661
Ethanol	9,667			33,904			14,946			53,728
Plant Nutrient	18,873			27,002			19,297			26,966
Rail	21,689			6,684			32,002			21,729
Retail	1,469			1,637			(714		)	(698		)
Other	(5,786		)	(9,567		)	(15,173		)	(16,791		)
Noncontrolling interests	1,306			5,069			1,155			8,390
Total	$	50,367		$	75,084		$	55,405		$	114,985

(in thousands)	June 30, 2015		December 31, 2014		June 30, 2014
Identifiable assets
Grain	$	867,655	$	1,137,437	$	823,957
Ethanol	194,359		197,888		255,077
Plant Nutrient	517,586		433,013		320,937
Rail	395,798		365,531		312,354
Retail	45,194		44,536		46,319
Other	131,773		186,287		133,984
Total	$	2,152,365	$	2,364,692	$	1,892,628