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Other Income
6 Months Ended
Jun. 30, 2023
Other Income and Expenses [Abstract]  
Other Income Other Income
The following table sets forth the items in Other income, net within the Condensed Consolidated Statements of Operations for the periods presented below:

Three months ended June 30,Six months ended June 30,
(in thousands)2023202220232022
Gain on deconsolidation of joint venture$6,544 $— $6,544 $— 
Property insurance recoveries2,180 1,851 3,183 3,106 
Interest income1,708 819 3,175 1,293 
Patronage income78 936 2,094 2,399 
Gain on sale of frac sand assets 3,979  3,979 
Biofuel Producer Program funds 17,643  17,643 
Equity earnings (losses) in affiliates(417)(6,034)(231)(6,278)
Other2,348 (2,402)5,680 (1,432)
Total$12,441 $16,792 $20,445 $20,710 

Individually significant items included in the table above are:

Gain on deconsolidation of joint venture - On April 18, 2023, ELEMENT was placed into receivership. As the receiver took control of ELEMENT within the quarter, under the VIE consolidation model, the Company was deemed to have lost control of the entity and therefore deconsolidated ELEMENT from its Condensed Consolidated Financial Statements. As a result of these activities, the Company recognized a gain on deconsolidation. See footnote 15 for additional information.

Property insurance recoveries - In 2023, property insurance recoveries consisted of proceeds of $2.2 million relating to a conveyor collapse in Delhi, Louisiana in the prior year, the remaining proceeds consists of several individually insignificant amounts in the ordinary course of business. In 2022, property insurance recoveries consisted of proceeds of approximately $3.0 million relating to a prior period incident at the Company’s Galena Park, Texas facility, the remaining proceeds consists of several individually insignificant amounts in the ordinary course of business.

Interest income - The Company earns interest income on cash and cash equivalents held in money market accounts at TAMH along with inventory financing programs provided by the Company. For the six months ended June 30, 2023, the money market account at TAMH earned $1.0 million and the inventory financing program earned $1.1 million , the remaining interest income consists of several individually insignificant amounts in the ordinary course of business. Interest income for the year ended June 30, 2022 consisted of individually insignificant amounts in the ordinary course of business.

Patronage income - As a part of the Company’s normal operations it relies heavily on short-term lines of credit in order to support working capital needs in addition to long-term debt presented on the balance sheet. As part of these programs the Company receives patronage income annually from its lenders.

Gain on sale of frac sand assets - Gains on sale of frac sand assets for the year ended June 30, 2022, consisted of gains on the sale of the Company’s remaining frac sand facilities and assets in Oklahoma City, Oklahoma and North Branch, Minnesota of $4.0 million.

Biofuel Producer Program funds - In 2022, the USDA as a part of the Biofuel Producer Program, created under the CARES Act, provided funding to support biofuel producers who faced unexpected market losses due to the COVID-19 pandemic. Under this program TAMH and ELEMENT received proceeds of $13.3 million and $4.3 million, respectively. Of these proceeds $8.9 million was attributable to the Company and the remaining $8.7 million attributable to the noncontrolling interest.

Equity earnings (losses) in affiliates - In 2022, the Company recorded an impairment charge on a Canadian equity method investment for $4.5 million, the remaining equity earnings (losses) in affiliates consists of individually insignificant activity in the ordinary course of business.