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Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2018

The following table presents unaudited summarized financial information for the investees:



(in thousands)	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2018		2017		2018		2017
Revenues	$	1,504,141	$	1,341,123	$	4,244,385	$	3,797,546
Gross profit	49,497		42,973		147,013		111,468
Income (loss) from continuing operations	12,126		3,265		36,955		7,950
Net income (loss)	11,678		3,121		35,240		6,583
Net income (loss) attributable to Companies	11,678		3,300		35,240		7,486

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



(in thousands)	September 30, 2018		December 31, 2017		September 30, 2017
The Andersons Albion Ethanol LLC	$	49,882	$	45,024	$	42,302
The Andersons Clymers Ethanol LLC	22,589		19,830		17,837
The Andersons Marathon Ethanol LLC	15,373		12,660		12,390
Lansing Trade Group, LLC	99,904		93,088		89,541
Thompsons Limited (a)	50,280		50,198		50,399
Other	2,322		2,439		2,562
Total	$	240,350	$	223,239	$	215,031

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

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



		Three months ended September 30,						Nine months ended September 30,
(in thousands)	% Ownership at September 30, 2018	2018			2017			2018			2017
The Andersons Albion Ethanol LLC	55%	$	2,408		$	1,473		$	4,858		$	3,331
The Andersons Clymers Ethanol LLC	39%	1,376			1,822			3,121			2,597
The Andersons Marathon Ethanol LLC	33%	1,029			985			2,713			1,301
Lansing Trade Group, LLC	33% (a)	2,428			305			8,603			491
Thompsons Limited (b)	50%	35			(940		)	1,345			546
Other	5% - 50%	(51		)	(59		)	(39		)	(173		)
Total		$	7,225		$	3,586		$	20,601		$	8,093

(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 summarized financial information for the investees:



(in thousands)	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2018		2017		2018		2017
Revenues	$	1,504,141	$	1,341,123	$	4,244,385	$	3,797,546
Gross profit	49,497		42,973		147,013		111,468
Income (loss) from continuing operations	12,126		3,265		36,955		7,950
Net income (loss)	11,678		3,121		35,240		6,583
Net income (loss) attributable to Companies	11,678		3,300		35,240		7,486

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



	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2018		2017		2018		2017
Sales revenues	$	82,394	$	225,367	$	278,974	$	665,331
Service fee revenues (a)	5,231		14,397		15,539		28,433
Purchases of product and capital assets	177,583		165,084		556,551		467,495
Lease income (b)	1,623		1,850		4,829		4,559
Labor and benefits reimbursement (c)	3,436		3,208		10,603		10,071


(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.