Segment Information

9 Months Ended

Sep. 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 Thompsons Limited. 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 recast 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 September 30,				Nine months ended September 30,
(in thousands)	2015		2014		2015		2014
Revenues from external customers
Grain	$	570,626	$	575,354	$	1,781,104	$	1,814,517
Ethanol	139,140		179,405		416,752		594,613
Plant Nutrient	149,303		133,440		660,440		639,603
Rail	44,758		32,022		134,497		117,733
Retail	31,947		32,706		101,562		101,837
Total	$	935,774	$	952,927	$	3,094,355	$	3,268,303

	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2015		2014		2015		2014
Inter-segment sales
Grain	$	404	$	894	$	2,534	$	4,256
Plant Nutrient	53		42		517		520
Rail	388		109		813		327
Total	$	845	$	1,045	$	3,864	$	5,103

	Three months ended September 30,						Nine months ended September 30,
(in thousands)	2015			2014			2015			2014
Income (loss) before income taxes
Grain	$	131		$	12,449		$	4,024		$	34,110
Ethanol	5,888			21,253			20,833			74,981
Plant Nutrient	(11,114		)	(3,014		)	8,183			23,952
Rail	11,913			4,160			43,915			25,889
Retail	(769		)	(968		)	(1,483		)	(1,666		)
Other	(8,781		)	(6,804		)	(23,955		)	(23,595		)
Noncontrolling interests	277			2,454			1,433			10,844
Total	$	(2,455	)	$	29,530		$	52,950		$	144,515

(in thousands)	September 30, 2015		December 31, 2014		September 30, 2014
Identifiable assets
Grain	$	852,388	$	1,137,437	$	713,352
Ethanol	186,250		197,888		257,194
Plant Nutrient	546,673		433,013		336,887
Rail	413,955		365,531		316,851
Retail	45,403		44,536		46,108
Other	147,025		186,287		412,600
Total	$	2,191,694	$	2,364,692	$	2,082,992