Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2018

The following table presents the Company’s investment balance in each of its equity method investees by entity:



(in thousands)	June 30, 2018		December 31, 2017		June 30, 2017
The Andersons Albion Ethanol LLC	$	47,474	$	45,024	$	40,829
The Andersons Clymers Ethanol LLC	21,214		19,830		19,903
The Andersons Marathon Ethanol LLC	14,344		12,660		14,045
Lansing Trade Group, LLC	97,476		93,088		89,235
Thompsons Limited (a)	49,251		50,198		49,252
Other	2,400		2,439		2,530
Total	$	232,159	$	223,239	$	215,794

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

The following table presents unaudited financial information for the three and six months ended June 30, 2018 and 2017:



(in thousands)	Three months ended June 30,				Six months ended June 30,
(in thousands)	2018		2017		2018		2017
Revenues	$	1,372,059	$	1,010,639	$	2,604,118	$	2,357,338
Gross profit	45,915		33,054		90,336		62,810
Income (loss) from continuing operations	11,569		3,030		20,397		1,325
Net income (loss)	10,785		2,606		19,130		102
Net income (loss) attributable to Lansing Trade Group	10,785		2,899		19,130		826

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



		Three months ended June 30,						Six months ended June 30,
(in thousands)	% Ownership at June 30, 2018	2018			2017			2018		2017
The Andersons Albion Ethanol LLC	55%	$	1,329		$	2,135		$	2,450	$	1,858
The Andersons Clymers Ethanol LLC	39%	1,236			569			1,745		776
The Andersons Marathon Ethanol LLC	33%	1,728			779			1,684		316
Lansing Trade Group, LLC	33% (a)	3,591			896			6,175		185
Thompsons Limited (b)	50%	1,980			2,081			1,311		1,486
Other	5% - 50%	(61		)	(75		)	11		(114		)
Total		$	9,803		$	6,385		$	13,376	$	4,507

(a) This does not consider restricted management units which once vested will reduce the ownership percentage by approximately 1%

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

The following table presents unaudited financial information for the three and six months ended June 30, 2018 and 2017:



(in thousands)	Three months ended June 30,				Six months ended June 30,
(in thousands)	2018		2017		2018		2017
Revenues	$	1,372,059	$	1,010,639	$	2,604,118	$	2,357,338
Gross profit	45,915		33,054		90,336		62,810
Income (loss) from continuing operations	11,569		3,030		20,397		1,325
Net income (loss)	10,785		2,606		19,130		102
Net income (loss) attributable to Lansing Trade Group	10,785		2,899		19,130		826

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



	Three months ended June 30,				Six months ended June 30,
(in thousands)	2018		2017		2018		2017
Sales revenues	$	107,686	$	241,896	$	196,580	$	439,964
Service fee revenues (a)	5,191		9,410		10,308		14,036
Purchases of product and capital assets	197,444		167,904		378,968		302,411
Lease income (b)	1,624		1,422		3,206		2,709
Labor and benefits reimbursement (c)	3,601		6,863		7,168		10,553


(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.


(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)	Accounts receivable represents amounts due from related parties for sales of corn, leasing revenue and service fees.


(e)	Accounts payable represents amounts due to related parties for purchases of ethanol and other various items.