Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s operations include four reportable business segments that are distinguished primarily on the basis of products and services offered as well as the structure of management. The Trade business includes commodity merchandising and the operation of terminal grain elevator facilities. The Ethanol business produces ethanol and co-products through its five co-owned and fully consolidated ethanol production facilities as well as purchases and sells ethanol and ethanol co-products. The Plant Nutrient business manufactures and distributes agricultural inputs, primarily fertilizer, to dealers and farmers, along with turf care and corncob-based products. Rail operations include the leasing, marketing and fleet management of railcars and other assets, railcar repair and metal fabrication. The Other category includes other corporate level costs not attributable to an operating segment and intercompany eliminations between the segments.

The segment information below includes the allocation of expenses shared by one or more operating segments. Although management believes such allocations are reasonable, the operating information does not necessarily reflect how such data might appear if the segments were operated as separate businesses. The Company does not have any customers who represent 10 percent or more of total revenues from external customers.

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2021		2020		2021		2020
Revenues from external customers
Trade	$	2,297,869	$	1,351,168	$	4,280,377	$	2,729,209
Ethanol	616,527		223,745		1,059,486		536,784
Plant Nutrient	321,409		279,825		490,661		404,738
Rail	37,921		35,442		78,931		72,555
Total	$	3,273,726	$	1,890,180	$	5,909,455	$	3,743,286

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2021		2020		2021		2020
Income (loss) before income taxes attributable to the Company
Trade	$	13,777	$	393	$	27,632	$	(9,591)
Ethanol	23,531		868		26,457		(23,108)
Plant Nutrient	23,995		19,407		32,518		18,215
Rail	3,064		2,606		7,955		3,613
Other	(10,226)		(5,035)		(19,569)		(10,015)
Income (loss) before income taxes attributable to the Company	54,141		18,239		74,993		(20,886)
Income (loss) attributable to noncontrolling interests	2,625		(10,407)		780		(23,856)
Income (loss) before income taxes	$	56,766	$	7,832	$	75,773	$	(44,742)