Segment Information

12 Months Ended

Dec. 31, 2016

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 base nutrient and value add fertilizers, to dealers and farmers, along with turf care and corncob-based products. The Retail business operates large retail stores, a distribution center, and a lawn and garden equipment sales and service facility. In January 2017, the Company announced that the Retail segment will be closed in the first half of 2017. Included in “Other” are the corporate level costs not attributed 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. The Company does not have any customers who represent 10 percent, or more, of total revenues.

	Year ended December 31,
(in thousands)	2016		2015		2014
Revenues from external customers
Grain	$	2,357,171	$	2,483,643	$	2,682,038
Ethanol	544,556		556,188		765,939
Plant Nutrient	725,176		848,338		802,333
Rail	163,658		170,848		148,954
Retail	134,229		139,478		140,807
Total	$	3,924,790	$	4,198,495	$	4,540,071

	Year ended December 31,
(in thousands)	2016		2015		2014
Inter-segment sales
Grain	$	1,638	$	3,573	$	5,066
Plant Nutrient	470		682		627
Rail	1,399		1,192		466
Total	$	3,507	$	5,447	$	6,159

	Year ended December 31,
(in thousands)	2016			2015			2014
Interest expense (income)
Grain	$	7,955		$	5,778		$	8,785
Ethanol	35			70			255
Plant Nutrient	6,448			7,243			5,278
Rail	6,461			7,006			7,247
Retail	496			356			666
Other	(276		)	(381		)	(471		)
Total	$	21,119		$	20,072		$	21,760

	Year ended December 31,
(in thousands)	2016			2015		2014
Equity in earnings of affiliates
Grain	$	(8,746	)	$	14,703	$	27,643
Ethanol	18,467			17,221		68,880
Total	$	9,721		$	31,924	$	96,523

	Year ended December 31,
(in thousands)	2016		2015		2014
Other income, net
Grain	$	5,472	$	26,229	$	21,450
Ethanol	77		377		223
Plant Nutrient	3,716		3,046		4,372
Rail	2,218		15,935		3,094
Retail	507		557		955
Other	2,785		328		1,031
Total	$	14,775	$	46,472	$	31,125

	Year ended December 31,
(in thousands)	2016			2015			2014
Income (loss) before income taxes
Grain	$	(15,651	)	$	(9,446	)	$	58,136
Ethanol	24,723			28,503			92,257
Plant Nutrient	14,176			121			24,514
Rail	32,428			50,681			31,445
Retail	(8,848		)	(455		)	(620		)
Other*	(28,323		)	(82,713		)	(34,505		)
Non-controlling interests	2,876			1,745			12,919
Total	$	21,381		$	(11,564	)	$	184,146

* includes pension settlement charges in 2015

	Year ended December 31,
(in thousands)	2016		2015
Identifiable assets
Grain	$	961,114	$	1,010,810
Ethanol	171,115		183,080
Plant Nutrient	484,455		531,753
Rail	398,446		405,702
Retail	31,257		44,135
Other	186,462		183,621
Total	$	2,232,849	$	2,359,101

	Year ended December 31,
(in thousands)	2016		2015		2014
Capital expenditures
Grain	$	21,428	$	26,862	$	20,958
Ethanol	2,301		7,223		2,256
Plant Nutrient	15,153		14,384		24,491
Rail	4,345		2,990		2,332
Retail	436		1,005		1,190
Other	34,077		20,005		8,448
Total	$	77,740	$	72,469	$	59,675

	Year ended December 31,
(in thousands)	2016		2015		2014
Acquisition of businesses, net of cash acquired and other investments
Grain	$	—	$	—	$	40,206
Ethanol	—		—		—
Plant Nutrient	—		128,549		15,489
Rail	—		—		—
Other	2,500		750		100
Total	$	2,500	$	129,299	$	55,795

	Year ended December 31,
(in thousands)	2016		2015		2014
Depreciation and amortization
Grain	$	18,232	$	19,240	$	16,547
Ethanol	5,925		5,865		5,700
Plant Nutrient	28,663		25,179		19,624
Rail	20,082		18,450		13,262
Retail	2,452		2,510		2,668
Other	8,971		7,212		4,204
Total	$	84,325	$	78,456	$	62,005

Grain sales for export to foreign markets amounted to $78.3 million, $195.6 million and $251.4 million in 2016, 2015 and 2014, respectively - the majority of which were sales to Canadian customers. Revenues from leased railcars in Canada totaled $13.2 million, $11.0 million and $9.1 million in 2016, 2015 and 2014, respectively. The net book value of the leased railcars in Canada as of December 31, 2016 and 2015 was $26.8 million and $26.6 million, respectively.