Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2016

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)	March 31, 2016		December 31, 2015		March 31, 2015
The Andersons Albion Ethanol LLC	$	32,483	$	32,871	$	28,726
The Andersons Clymers Ethanol LLC	28,199		29,278		36,063
The Andersons Marathon Ethanol LLC	29,446		31,255		31,869
Lansing Trade Group, LLC	98,763		101,531		78,594
Thompsons Limited (a)	45,479		43,964		44,224
Other	1,713		3,208		2,606
Total	$	236,083	$	242,107	$	222,082

(a) Thompsons Limited and related U.S. operating company held by joint ventures

In the first quarter of 2015, LTG and The Andersons Albion Ethanol LLC qualified as significant equity investees of the Company under the income test. The following table presents combined summarized unaudited financial information of these investments for the three months ended March 31, 2016 and 2015:



(in thousands)	Three months ended March 31,
(in thousands)	2016			2015
Sales	$	1,462,213		$	1,699,063
Gross profit	23,364			47,659
Income (loss) from continuing operations	(8,377		)	10,586
Net income (loss)	(8,407		)	9,345
Net income (loss) attributable to companies	(8,006		)	8,343

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

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



	% ownership at March 31, 2016	Three months ended March 31,
(in thousands)	% ownership at March 31, 2016	2016			2015
The Andersons Albion Ethanol LLC	55%	$	(322	)	$	1,091
The Andersons Clymers Ethanol LLC	38%	(1,079		)	288
The Andersons Marathon Ethanol LLC	50%	(1,809		)	333
Lansing Trade Group, LLC	32% (a)	(2,767		)	2,410
Thompsons Limited (b)	50%	(1,000		)	(861		)
Other	5%-34%	—			—
Total		$	(6,977	)	$	3,261

(a) This does not consider restricted management units which once vested will reduce the ownership percentage by approximately 0.8%

(b) Thompsons Limited and related U.S. operating company held by joint ventures

Schedule of aggregate summarized financial information of subsidiaries

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



	Three months ended March 31,
(in thousands)	2016		2015
Sales revenues	$	194,838	$	149,472
Service fee revenues (a)	4,636		4,925
Purchases of product	101,953		102,795
Lease income (b)	2,037		1,663
Labor and benefits reimbursement (c)	3,898		3,032
Other expenses (d)	149		338


(a)	Service fee revenues include management fees, corn origination fees, ethanol and distillers dried grains (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 unconsolidated 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 facility rent and use of their railroad reporting mark, payment to LTG for the lease of railcars and other various expenses.



(in thousands)	March 31, 2016		December 31, 2015		March 31, 2015
Accounts receivable (e)	$	19,066	$	13,362	$	13,507
Accounts payable (f)	16,124		13,784		12,911


(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 and other various items.