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Revenue
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Many of the Company’s revenues are generated from contracts that are outside the scope of Accounting Standard Codification ("ASC") 606 and thus are accounted for under other accounting standards. Specifically, many of the Company's Trade and Ethanol sales contracts are derivatives under ASC 815, Derivatives and Hedging and the Rail leasing revenue is accounted for under ASC 842, Leases. The breakdown of revenues between ASC 606 and other standards are as follows:
Three months ended September 30,Nine months ended September 30,
(in thousands)2021202020212020
Revenues under ASC 606$457,621 $282,258 $1,568,529 $1,066,620 
Revenues under ASC 8152,541,203 1,603,328 7,260,819 4,489,697 
Total revenues$2,998,824 $1,885,586 $8,829,348 $5,556,317 
The remainder of this note applies only to those revenues that are accounted for under ASC 606.
Disaggregation of revenue
The following tables disaggregate revenues under ASC 606 by major product/service line for the three and nine months ended September 30, 2021 and 2020, respectively:
Three months ended September 30, 2021
(in thousands)TradeEthanolPlant NutrientTotal
Specialty nutrients$— $— $49,249 $49,249 
Primary nutrients— — 69,835 69,835 
Services8,828 — 2,233 11,061 
Products and co-products70,924 183,225 — 254,149 
Frac sand and propane
49,379 — — 49,379 
Other2,163 1,046 20,739 23,948 
Total$131,294 $184,271 $142,056 $457,621 
Three months ended September 30, 2020
(in thousands)TradeEthanolPlant NutrientTotal
Specialty nutrients$— $— $31,835 $31,835 
Primary nutrients— — 62,094 62,094 
Service2,010 — 975 2,985 
Products and co-products55,235 97,703 — 152,938 
Frac sand and propane21,676 — — 21,676 
Other2,414 513 7,803 10,730 
Total$81,335 $98,216 $102,707 $282,258 
Nine months ended September 30, 2021
(in thousands)TradeEthanolPlant NutrientTotal
Specialty nutrients$— $— $210,971 $210,971 
Primary nutrients— — 355,098 355,098 
Service12,396 — 7,391 19,787 
Products and co-products217,859 513,132 — 730,991 
Frac sand and propane178,094 — — 178,094 
Other9,132 5,199 59,257 73,588 
Total$417,481 $518,331 $632,717 $1,568,529 

Nine months ended September 30, 2020
(in thousands)TradeEthanolPlant NutrientTotal
Specialty nutrients$— $— $187,700 $187,700 
Primary nutrients— — 296,247 296,247 
Service6,053 — 3,753 9,806 
Products and co-products171,744 275,175 — 446,919 
Frac sand and propane92,990 — — 92,990 
Other11,732 1,481 19,745 32,958 
Total$282,519 $276,656 $507,445 $1,066,620 

Substantially all of the Company's revenues accounted for under ASC 606 during both three and nine months periods ended September 30, 2021 and 2020, respectively, are recorded at a point in time instead of over time.
Contract balancesThe balances of the Company’s contract liabilities were $31.2 million and $45.6 million as of September 30, 2021 and December 31, 2020, respectively. The difference between the opening and closing balances of the Company’s contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. The main driver of the contract liabilities balance is payments for primary and specialty nutrients received in advance of fulfilling our performance obligations under our customer contracts. Due to seasonality of this business, contract liabilities were built up at year-end in preparation for the spring application season. As expected, the revenue recognized through the first nine months of 2021 satisfied the contract liabilities throughout the application