Commitments and Contingencies

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 7: COMMITMENTS AND CONTINGENCIES

Commitments

The Company has grain supply agreements to purchase its corn requirements for each of its Indiana plant and Atchison plant through a single supplier.  These grain supply agreements expire December 31, 2014.  At December 31, 2013, the Company had commitments to purchase corn to be used in operations through December 2014 totaling $43,415.

The Company has commitments to purchase natural gas needed in the production at fixed prices at various dates through November 2014.  The commitment for these contracts at December 31, 2013 totaled $7,548.

The Company entered into a supply contract for flour for use in the production of protein and starch ingredients.  The initial term of the agreement, as amended, expires October 23, 2015.  At December 31, 2013, the Company had purchase commitments aggregating $8,883 through September 2014.

At December 31, 2013, the Company had contracts to acquire capital assets of approximately $469.

At December 31, 2013, the Company had $2,000 outstanding from a letter of credit with a vendor, which reduced the amount otherwise available to the Company under its revolving line of credit.

Contingencies

During fiscal 2013, pursuant to the Settlement Agreement and Mutual Release (the "Settlement Agreement"), the Company entered into a Settlement Agreement and Mutual Release (the "Settlement Agreement") with Cloud L. Cray, Jr., Karen Seaberg and Thomas M. Cray (collectively, the "Cray Group") and Timothy W. Newkirk, the Company's former Chief Executive Officer, and all other members of the Board of Directors. In connection with the Settlement Agreement, the Company agreed to reimburse, within ten business days of presentment, the members of the Cray Group for all reasonable legal fees and out-of-pocket costs and expenses incurred in connection with the matters related to the proxy contest, up to an aggregate maximum cap of $1,775. The Cray Group submitted reimbursement requests for $1,764, which the Company fully accrued at December 31, 2013. Such costs are included in the caption Selling, General and Administrative Expenses on the Consolidated Statement of Operations.

There are various legal proceedings involving the Company and its subsidiaries.  Management considers that the aggregate liabilities, if any, arising from such actions would not have a material adverse effect on the consolidated financial position or overall trends in results of operations of the Company.