Revenue (Tables)

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Breakdown of Revenues between ASC 606

The breakdown of revenues between ASC 606 and other standards is as follows:

(in thousands)	For the Year ended December 31, 2018
Revenues under ASC 606	$	898,885
Revenues under ASC 840	105,631
Revenues under ASC 815	2,040,866
Total Revenues	$	3,045,382

Schedule of Disaggregation of Revenues

The following tables disaggregate revenues under ASC 606 by major product/service line:

	Twelve months ended December 31, 2018
(in thousands)	Grain		Ethanol		Plant Nutrient		Rail		Total
Specialty nutrients	$	—	$	—	$	260,821	$	—	$	260,821
Primary nutrients	—		—		399,566		—		399,566
Services	14,666		10,786		4,411		35,179		65,042
Co-products	—		114,489		—		—		114,489
Other	1,035		—		25,738		32,194		58,967
Total	$	15,701	$	125,275	$	690,536	$	67,373	$	898,885

Schedule of Opening and Closing Balances of Company's Contract Assets and Liabilities

The opening and closing balances of the Company’s contract liabilities are as follows:

(in thousands)	Contract liabilities
Balance at January 1, 2018	$	25,520
Balance at December 31, 2018	28,858

Schedule of Effects of New Accounting Pronouncements in Balance Sheet and Statement of Operations

The following table compares the balance sheet, as of December 31, 2018, to the pro forma amounts had the previous guidance been in effect:

	Balance Sheet
	December 31, 2018
(in thousands)	As Reported		ASC 606 Impact			Pro forma as if the previous accounting guidance was in effect
Cash and cash equivalents and restricted cash	$	22,593	$	—		$	22,593
Accounts receivable, net	207,285		—			207,285
Inventories	690,804		74			690,878
Commodity derivative assets - current	51,421		—			51,421
Other current assets	51,095		(114		)	50,981
Other noncurrent assets	370,309		—			370,309
Rail Group assets leased to others, net	521,785		(22,709		)	499,076
Property, plant and equipment, net	476,711		—			476,711
Total assets	2,392,003		(22,749		)	2,369,254
Short-term debt and current maturities of long-term debt	226,589		(4,842		)	221,747
Trade and other payables and accrued expenses and other current liabilities	541,581		—			541,581
Commodity derivative liabilities - current	32,647		—			32,647
Customer prepayments and deferred revenue	32,533		—			32,533
Commodity derivative liabilities - noncurrent and Other long-term liabilities	33,073		—			33,073
Employee benefit plan obligations	22,542		—			22,542
Long-term debt, less current maturities	496,187		(29,177		)	467,010
Deferred income taxes	130,087		3,492			133,579
Total liabilities	1,515,239		(30,527		)	1,484,712
Retained earnings	647,517		7,778			655,295
Common shares, additional paid-in-capital, treasury shares, accumulated other comprehensive loss and noncontrolling interests	229,247		—			229,247
Total equity	876,764		7,778			884,542
Total liabilities and equity	$	2,392,003	$	(22,749	)	$	2,369,254

The following table compares the reported condensed statement of operations for the year ended December 31, 2018, to the pro forma amounts had the previous guidance been in effect:

	Statement of Operations
	December 31, 2018
(in thousands)	As Reported			ASC 606 Impact			Pro forma as if the previous accounting guidance was in effect
Sales and merchandising revenues	$	3,045,382		$	701,437		$	3,746,819
Cost of sales and merchandising revenues	2,743,377			703,358			3,446,735
Gross profit	302,005			(1,921		)	$	300,084
Operating, administrative and general expenses	257,872			—			$	257,872
Asset impairment	6,272			—			$	6,272
Interest expense	27,848			(1,563		)	$	26,285
Other income:
Equity in earnings of affiliates, net	27,141			—			$	27,141
Other income, net	16,002			—			$	16,002
Income (loss) before income taxes	53,156			(358		)	$	52,798
Income tax provision	11,931			(89		)	$	11,842
Net income (loss)	41,225			(269		)	$	40,956
Net income attributable to the noncontrolling interests	(259		)	—			$	(259	)
Net income (loss) attributable to The Andersons, Inc.	$	41,484		$	(269	)	$	41,215