Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2019

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:



(in thousands)	June 30, 2019		December 31, 2018		June 30, 2018
The Andersons Albion Ethanol LLC	$	50,760	$	50,382	$	47,474
The Andersons Clymers Ethanol LLC	25,260		24,242		21,214
The Andersons Marathon Ethanol LLC	16,294		14,841		14,344
Lansing Trade Group, LLC (a)	—		101,715		97,476
Thompsons Limited (a)	—		48,987		49,251
Providence Grain Group Inc.	17,161		—		—
Other	11,454		2,159		2,400
Total	$	120,929	$	242,326	$	232,159

(a) The Company previously owned approximately 32.5% of LTG. Effective January 1, 2019, the Company purchased the remaining equity of LTG. The transaction results in the consolidation of Thompsons Limited of Ontario, Canada and related entities, which LTG and the Company had equally owned.

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

The 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, 2019	2019			2018			2019			2018
The Andersons Albion Ethanol LLC	55%	$	120		$	1,329		$	379		$	2,450
The Andersons Clymers Ethanol LLC	39%	694			1,236			1,276			1,745
The Andersons Marathon Ethanol LLC	33%	644			1,728			1,453			1,684
Lansing Trade Group, LLC (a)	100% (a)	—			3,591			—			6,175
Thompsons Limited (a)	100% (a)	—			1,980			—			1,311
Providence Grain Group Inc.	39%	(1,719		)	—			(1,844		)	—
Other	5% - 51%	104			(61		)	98			11
Total		$	(157	)	$	9,803		$	1,362		$	13,376

(a) The Company previously owned approximately 32.5% of LTG. Effective January 1, 2019, the company purchased the remaining equity of LTG. The transaction results in the consolidation of Thompsons Limited and related entities, which LTG and the Company had equally owned.

Schedule of aggregate summarized financial information of subsidiaries

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)	2019		2018		2019		2018
Sales revenues	$	57,854	$	107,686	$	119,022	$	196,580
Service fee revenues (a)	4,052		5,191		8,163		10,308
Purchases of product and capital assets	176,442		197,444		345,671		378,968
Lease income (b)	1,645		1,624		3,309		3,206
Labor and benefits reimbursement (c)	3,602		3,601		7,460		7,168


(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.



(in thousands)	June 30, 2019		December 31, 2018		June 30, 2018
Accounts receivable (d)	$	19,515	$	17,829	$	27,030
Accounts payable (e)	24,700		28,432		39,620


(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.