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Related Party Transactions | 9 Months Ended
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Sep. 29, 2018
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions Raw Material Agreement The Company entered into a Raw Material Agreement with the DGD Joint Venture in May 2011 pursuant to which the Company will offer to supply certain animal fats and used cooking oil at market prices, up to the DGD Joint Venture's full operational requirement of feedstock, but the DGD Joint Venture is not obligated to purchase the raw material offered by the Company. Additionally, the Company may offer other feedstocks to the DGD Joint Venture, such as inedible corn oil, purchased on a resale basis. For the three months ended September 29, 2018 and September 30, 2017, the Company has recorded sales to the DGD Joint Venture of approximately $23.9 million and $44.5 million, respectively. For the nine months ended September 29, 2018 and September 30, 2017, the Company has recorded sales to the DGD Joint Venture of approximately $90.8 million and $122.6 million, respectively. At September 29, 2018 and December 30, 2017, the Company has $5.3 million and $5.6 million in outstanding receivables due from the DGD Joint Venture, respectively. In addition, the Company has eliminated approximately $5.7 million of additional sales for the three months ended September 29, 2018 to defer the Company's portion of profit of approximately $0.8 million on those sales relating to inventory assets remaining on the DGD Joint Venture's balance sheet at September 29, 2018. Revolving Loan Agreement On February 23, 2015, Darling through its wholly owned subsidiary Darling Green Energy LLC, (“Darling Green”) and a third party Diamond Alternative Energy, LLC (“Diamond Alternative” and together with Darling Green, the “DGD Lenders”) entered into a revolving loan agreement (the “DGD Loan Agreement”) with the DGD Joint Venture Opco. The DGD Lenders have committed to making loans available to Opco in the total amount of $10.0 million with each lender committed to $5.0 million of the total commitment. Any borrowings by Opco under the DGD Loan Agreement are at the applicable annum rate equal to the sum of (a) the LIBO Rate (meaning Reuters BBA Libor Rates Page 3750) on such day plus (b) 2.50%. The DGD Loan Agreement matures on December 31, 2018, unless extended by agreement of the parties. As of September 29, 2018, no amounts are owed to Darling Green under the DGD Loan Agreement.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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