Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2017

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 individual equity investments qualified as significant for the years ended December 31, 2017, 2016 and 2015.



	December 31,
(in thousands)	2017		2016		2015
Sales	$	6,080,795	$	6,579,413	$	6,868,257
Gross profit	217,629		188,350		250,847
Income from continuing operations	50,937		12,288		85,220
Net income	42,970		6,445		81,368

Current assets	1,045,124		898,081		1,236,171
Non-current assets	538,671		565,416		500,637
Current liabilities	802,161		665,387		796,816
Non-current liabilities	309,649		359,816		342,075
Noncontrolling interests	—		3,628		11,716

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)	2017		2016
The Andersons Albion Ethanol LLC	$	45,024	$	38,972
The Andersons Clymers Ethanol LLC	19,830		19,739
The Andersons Marathon Ethanol LLC	12,660		22,069
Lansing Trade Group, LLC	93,088		89,050
Thompsons Limited (a)	50,198		46,184
Other	2,439		917
Total	$	223,239	$	216,931


(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, 2017	December 31,
(in thousands)	% ownership at December 31, 2017	2017			2016			2015
The Andersons Albion Ethanol LLC	55%	$	6,052		$	6,167		$	5,636
The Andersons Clymers Ethanol LLC	39%	4,591			6,486			6,866
The Andersons Marathon Ethanol LLC	33%	1,571			5,814			4,718
Lansing Trade Group, LLC	33% (a)	4,038			(9,935		)	11,880
Thompsons Limited (b)	50%	696			1,189			2,735
Other	5% - 50%	(225		)	—			89
Total		$	16,723		$	9,721		$	31,924


(a)	This does not consider 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)	2017		2016		2015
Sales revenues	$	893,950	$	749,746	$	825,220
Service fee revenues (a)	24,357		17,957		20,393
Purchases of product	615,739		463,832		—
Lease income (b)	6,175		5,966		6,664
Labor and benefits reimbursement (c)	13,894		12,809		11,567
Other expenses (d)	—		149		1,059


(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 expense.



	December 31,
(in thousands)	2017	2016
Accounts receivable (e)	30,252	26,254
Accounts payable (f)	27,866	23,961


(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.