Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of aggregate summarized financial information of subsidiaries

The following table presents aggregate summarized financial information of LTG, TAAE, TACE, TAME, Thompsons Limited, and other various investments as they qualified as significant equity method investees in the aggregate. No equity investments qualified as significant for the years ended December 31, 2016, 2015 and 2014.



	December 31,
(in thousands)	2016		2015		2014
Sales	$	6,579,413	$	6,868,257	$	8,152,313
Gross profit	188,350		250,847		396,774
Income from continuing operations	12,288		85,220		233,831
Net income	6,445		81,368		219,431

Current assets	898,081		1,236,171		1,482,110
Non-current assets	565,416		500,637		558,138
Current liabilities	665,387		796,816		1,153,101
Non-current liabilities	359,816		342,075		381,646
Noncontrolling interests	3,628		11,716		13,953

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:



	December 31,
(in thousands)	2016		2015
The Andersons Albion Ethanol LLC	$	38,972	$	32,871
The Andersons Clymers Ethanol LLC	19,739		29,278
The Andersons Marathon Ethanol LLC	22,069		31,255
Lansing Trade Group, LLC	89,050		101,531
Thompsons Limited (a)	46,184		43,964
Other	917		3,208
Total	$	216,931	$	242,107


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

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

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



	% ownership at December 31, 2016	December 31,
(in thousands)	% ownership at December 31, 2016	2016			2015		2014
The Andersons Albion Ethanol LLC	55%	$	6,167		$	5,636	$	19,814
The Andersons Clymers Ethanol LLC	39%	6,486			6,866		21,840
The Andersons Marathon Ethanol LLC	50%	5,814			4,718		27,226
Lansing Trade Group, LLC	33% (a)	(9,935		)	11,880		23,266
Thompsons Limited (b)	50%	1,189			2,735		4,140
Other	5%-34%	—			89		237
Total		$	9,721		$	31,924	$	96,523


(a)	This does not consider the restricted management units which once vested will reduce the ownership percentage by approximately 0.7%.


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

Schedule of Related Party Transactions

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



	December 31,
(in thousands)	2016		2015		2014
Sales revenues	$	749,746	$	825,220	$	1,062,377
Service fee revenues (a)	17,957		20,393		23,093
Purchases of product	463,832		465,056		604,067
Lease income (b)	5,966		6,664		6,381
Labor and benefits reimbursement (c)	12,809		11,567		11,707
Other expenses (d)	149		1,059		1,224
Accounts receivable at December 31 (e)	26,254		13,362		25,049
Accounts payable at December 31 (f)	23,961		13,784		17,687


(a)	Service fee revenues include management fee, corn origination fee, ethanol and 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 unconsolidated 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.


(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.