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Investment in Unconsolidated Subsidiary | 9 Months Ended
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Sep. 29, 2018
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Unconsolidated Subsidiary | Investment in Unconsolidated Subsidiaries On January 21, 2011, a wholly-owned subsidiary of Darling entered into a limited liability company agreement with a wholly-owned subsidiary of Valero Energy Corporation (“Valero”) to form Diamond Green Diesel Holdings LLC (the “DGD Joint Venture”). The DGD Joint Venture is owned 50% / 50% with Valero and was formed to design, engineer, construct and operate a renewable diesel plant (the “DGD Facility”), which as a result of the recent expanded capacity is now capable of processing approximately 20,000 barrels per day of input feedstock to produce renewable diesel fuel and certain other co-products, and is located adjacent to Valero's refinery in Norco, Louisiana. The DGD Joint Venture reached mechanical completion and began the production of renewable diesel in late June 2013. Selected financial information for the Company's DGD Joint Venture is as follows (in thousands):
(in thousands) |  | September 30, 2018 | December 31, 2017
Assets: |  |  |
Total current assets |  | $ | 178,875 |  | $ | 202,778 |
Property, plant and equipment, net |  | 567,092 |  | 435,328 |
Other assets |  | 26,949 |  | 4,655 |
Total assets |  | $ | 772,916 |  | $ | 642,761 |
Liabilities and members' equity: |  |  |
Total current portion of long term debt |  | $ | 182 |  | $ | 17,023 |
Total other current liabilities |  | 46,502 |  | 40,705 |
Total long term debt |  | 8,535 |  | 36,730 |
Total other long term liabilities |  | 533 |  | 450 |
Total members' equity |  | 717,164 |  | 547,853 |
Total liabilities and members' equity |  | $ | 772,916 |  | $ | 642,761 |
|  | Three Months Ended |  | Nine Months Ended
(in thousands) |  | September 30, 2018 | September 30, 2017 |  | September 30, 2018 | September 30, 2017
Revenues: |  |  |  |  |  |
Operating revenues |  | $ | 104,811 |  | $ | 175,585 |  |  | $ | 407,121 |  | $ | 451,768 |
Expenses: |  |  |  |  |  |
Total costs and expenses less depreciation, amortization and accretion expense |  | 103,794 |  | 154,446 |  |  | 169,632 |  | 395,743 |
Depreciation, amortization and accretion expense |  | 6,516 |  | 6,733 |  |  | 18,890 |  | 22,867 |
Total costs and expenses |  | 110,310 |  | 161,179 |  |  | 188,522 |  | 418,610 |
Operating income |  | (5,499 | ) | 14,406 |  |  | 218,599 |  | 33,158 |
Other income |  | 556 |  | 408 |  |  | 1,348 |  | 959 |
Interest and debt expense, net |  | (318 | ) | (455 | ) |  | (637 | ) | (2,306 | )
Net income |  | $ | (5,261 | ) | $ | 14,359 |  |  | $ | 219,310 |  | $ | 31,811 |
As of September 29, 2018 under the equity method of accounting, the Company has an investment in the DGD Joint Venture of approximately $358.6 million on the consolidated balance sheet. The Company has recorded an equity net loss of approximately $2.6 million for the three months ended September 29, 2018 and an equity net gain of approximately $7.2 million for the three months ended September 30, 2017. The Company has recorded an equity net gain of approximately $109.7 million and $15.9 million for the nine months ended September 29, 2018 and September 30, 2017, respectively. In February 2018, the blender tax credits for calendar year 2017 were retroactively reinstated by the U.S. Congress. Fiscal 2017 results do not include any blenders tax credits, while in the first nine months of fiscal 2018, the DGD Joint Venture recorded approximately $160.4 million for the 2017 reinstated blenders tax credits. The DGD Joint Venture recorded the blenders tax credits in the first quarter of fiscal 2018 as a reduction of total costs and expenses in the above table. The biodiesel blenders tax credit have not been reinstated for fiscal 2018. In the second quarter of fiscal 2018, the Company received a dividend distribution of $25.0 million from the DGD Joint Venture. In addition to the DGD Joint Venture, the Company has investments in other unconsolidated subsidiaries that are insignificant to the Company.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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