Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s operations include three 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 Renewables business produces, purchases and sells ethanol and co-products. The group also operates a merchandising and trade portfolio of ethanol, ethanol co-products and other biofuels such as renewable diesel. The Plant Nutrient business manufactures and distributes agricultural inputs, primary nutrients and specialty fertilizers, to dealers and farmers, along with turf care and corncob-based products. Included in Other are the corporate level costs not attributed to an operating segment.

In the third quarter of 2021, the Company sold its Rail Leasing assets and announced its intentions of selling the remainder of the assets reported under the prior Rail segment. Prior year results have been recast to reflect this change. See Note 16 for further details of the divestiture of the Rail segment.

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.

	Year Ended December 31,
(in thousands)	2021		2020		2019
Revenues from external customers
Trade	$	9,304,357	$	6,141,402	$	6,144,526
Renewables	2,440,798		1,260,259		1,211,997
Plant Nutrient	866,895		662,959		646,730
Total	$	12,612,050	$	8,064,620	$	8,003,253

	Year Ended December 31,
(in thousands)	2021		2020		2019
Interest expense (income)
Trade	$	23,688	$	21,974	$	34,843
Renewables	7,602		7,461		943
Plant Nutrient	4,355		5,805		7,954
Other	1,647		(1,456)		(535)
Total	$	37,292	$	33,784	$	43,205

	Year Ended December 31,
(in thousands)	2021		2020		2019
Equity in earnings (losses) of affiliates
Trade	$	4,842	$	638	$	(6,835)
Renewables	—		—		(524)
Total	$	4,842	$	638	$	(7,359)

	Year Ended December 31,
(in thousands)	2021		2020		2019
Other income, net
Trade	$	31,036	$	11,954	$	11,142
Renewables	3,200		2,795		913
Plant Nutrient	2,128		1,274		4,903
Other	(3,768)		1,540		1,568
Total	$	32,596	$	17,563	$	18,526

	Year Ended December 31,
(in thousands)	2021		2020		2019
Income (loss) before income taxes from continuing operations
Trade	$	87,946	$	24,687	$	(17,328)
Renewables1	81,205		(47,338)		47,660
Plant Nutrient	42,615		16,015		9,159
Other	(50,996)		(20,445)		(26,470)
Income (loss) before income taxes from continuing operations	$	160,770	$	(27,081)	$	13,021

1 Includes income (loss) attributable to noncontrolling interests of $31.9 million, $(21.9) million and $(3.2) million for the years ended December 31, 2021, 2020 and 2019, respectively.

	Year Ended December 31,
(in thousands)	2021		2020
Identifiable assets
Trade	$	3,115,045	$	2,486,412
Renewables	784,031		666,839
Plant Nutrient	453,137		374,653
Other	152,952		68,084
Total assets of continuing operations	4,505,165		3,595,988
Assets of discontinued operations	64,054		676,133
Total	$	4,569,219	$	4,272,121

	Year Ended December 31,
(in thousands)	2021		2020		2019
Capital expenditures
Trade	$	17,828	$	14,911	$	31,173
Renewables	28,502		39,791		104,023
Plant Nutrient	21,616		16,565		20,413
Other	3,828		1,458		3,548
Total	$	71,774	$	72,725	$	159,157

	Year Ended December 31,
(in thousands)	2021		2020		2019
Depreciation and amortization
Trade	$	44,335	$	44,627	$	50,973
Renewables	77,542		73,224		23,727
Plant Nutrient	25,957		25,407		25,985
Other	9,340		9,807		11,359
Total from continuing operations	157,174		153,065		112,044
Discontinued operations	21,760		35,573		34,122
Total	$	178,934	$	188,638	$	146,166

	Year Ended December 31,
(in thousands)	2021		2020		2019
Revenues from external customers by geographic region
United States	$	9,771,502	$	6,180,376	$	6,196,402
Canada	806,481		517,006		653,592
Mexico	490,672		246,523		294,644
Switzerland	487,363		348,867		218,063
Other	1,056,032		771,848		640,552
Total	$	12,612,050	$	8,064,620	$	8,003,253

The net book value of Trade property, plant and equipment in Canada as of December 31, 2021 and 2020 was $38.6 million and $39.9 million, respectively.