v2.4.0.8

Subsequent Events

9 Months Ended

Sep. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

Note P – Subsequent Events

In October 2013, the Company’s Board of Directors has approved a bidder in the sale process for Hankinson Renewable Energy, LLC, a wholly-owned subsidiary of the Company, which owns and operates the Hankinson, North Dakota, ethanol facility.  The sale process is subject to normal and customary closing conditions and is expected to close prior to year-end.  As of September 30, 2013, the following are the assets and liabilities to be disposed of (thousands of dollars):

Accounts receivable	$ 5,475
Inventory	9,023
Prepaid expenses	1,328
Net PP&E	81,501
Deferred charges and other assets	168
Current maturities of long-term debt	(48)
Trade accounts payable and taxes payable	(14,268)
Long-term debt	(1,088)
Deferred income taxes	(15,121)

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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

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