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Investment in Unconsolidated Subsidiary | 12 Months Ended
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Jan. 02, 2021
Investment in Affiliate [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 Valero to form 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 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. Effective May 1, 2019, the limited liability company agreement was amended and restated for the purpose of updating the agreement in certain respects, including to remove certain provisions that were no longer relevant and to add new provisions relating to the DGD Joint Venture's ongoing expansion project to construct a new, parallel facility located next to the existing facility. In 2019, the Company continued to evaluate operational developments and the impact of anticipated significant expansion of the DGD Joint Venture. This evaluation was impactful to the consideration of how the Company most appropriately reflects its share of equity income from the DGD Joint Venture. Based on the Company's analysis, it was determined that the DGD Joint Venture has evolved into an integral and integrated part of the Company's ongoing operations. The Company determined this justifies a more meaningful and transparent presentation of equity in net income of the DGD Joint Venture as a component of the Company's operating income. Selected financial information for the Company's DGD Joint Venture is as follows:
(in thousands) |  | December 31, 2020 | December 31, 2019
Assets: |  |  |
Total current assets |  | $ | 383,557 |  | $ | 668,026 |
Property, plant and equipment, net |  | 1,238,726 |  | 713,489 |
Other assets |  | 36,082 |  | 30,710 |
Total assets |  | $ | 1,658,365 |  | $ | 1,412,225 |
Liabilities and members' equity: |  |  |
Total current portion of long term debt |  | $ | 517 |  | $ | 341 |
Total other current liabilities |  | 99,787 |  | 75,802 |
Total long term debt |  | 8,705 |  | 8,742 |
Total other long term liabilities |  | 3,758 |  | 4,422 |
Total members' equity |  | 1,545,598 |  | 1,322,918 |
Total liabilities and member's equity |  | $ | 1,658,365 |  | $ | 1,412,225 |
|  | Year Ended December 31,
(in thousands) |  | 2020 | 2019 | 2018
Revenues: |  |  |  |
Operating revenues |  | $ | 1,267,477 |  | $ | 1,217,504 |  | $ | 677,663 |
Expenses: |  |  |  |
Total costs and expenses less depreciation, amortization and accretion expense |  | 592,781 |  | 438,672 |  | 329,636 |
Depreciation, amortization and accretion expense |  | 44,882 |  | 50,767 |  | 29,434 |
Operating income |  | 629,814 |  | 728,065 |  | 318,593 |
Other income |  | 1,636 |  | 2,121 |  | 1,919 |
Interest and debt expense, net |  | (1,260) |  | (1,282) |  | (955) |
Net income |  | $ | 630,190 |  | $ | 728,904 |  | $ | 319,557 |
As of January 2, 2021, under the equity method of accounting, the Company has an investment in the DGD Joint Venture of approximately $772.8 million on the consolidated balance sheet and has recorded approximately $315.1 million, $364.5 million and $159.8 million in equity in net income of Diamond Green Diesel for the years ended January 2, 2021, December 28, 2019 and December 29, 2018, respectively. Biodiesel blenders registered with the Internal Revenue Service are currently eligible for a tax incentive in the amount of $1.00 per gallon of renewable diesel blended with petroleum diesel to produce a mixture containing at least 0.1% diesel fuel. In December 2019, the blenders tax credit was reinstated by the U.S. Congress retroactively for calendar year 2018 and 2019 and extended for calendar years 2020 through 2022. In February 2018, the blenders tax credits for calendar year 2017 were retroactively reinstated by the U.S. Congress. In fiscal 2020, the DGD Joint Venture recorded approximately $287.9 million in blenders tax credits. In fiscal 2019, the DGD Joint Venture recorded approximately $274.7 million for 2019 blenders tax credits and approximately $155.9 million for 2018 blenders tax credits. In fiscal 2018, the DGD Joint Venture recorded approximately $160.4 million for the 2017 reinstated blenders tax credits. In addition, the Company received $205.2 million, $67.5 million and $65.0 million for each of the years ended January 2, 2021, December 28, 2019 and December 29, 2018, in dividend distributions 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 Investment in Affiliate [Abstract] + References No definition available. + Details
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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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