v2.4.1.9
Segment Information
 3 Months Ended
Mar. 31, 2015
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Company’s operations include five reportable business segments that are distinguished primarily on the basis of products and services offered. The Grain business includes grain merchandising, the operation of terminal grain elevator facilities and the investments in LTG and the Thompsons Limited joint ventures. The Ethanol business purchases and sells ethanol and also manages the ethanol production facilities organized as limited liability companies, one is consolidated and three are investments accounted for under the equity method. There are various service contracts for these investments. Rail operations include the leasing, marketing and fleet management of railcars and other assets, railcar repair and metal fabrication. The Plant Nutrient business manufactures and distributes agricultural inputs, primarily fertilizer, to dealers and farmers, along with other turf care and corncob-based products. The Retail business operates large retail stores, a specialty food market, a distribution center and a lawn and garden equipment sales and service facility. Included in “Other” are the corporate level amounts not attributed to an operating segment.
In the first quarter of 2015, the Plant Nutrient Group merged with the Turf & Specialty Group, as announced in the fourth quarter of 2014. Management has adjusted its internal reporting structure to reflect this organizational change and the result of this merger is one reportable business segment, referred to as the Plant Nutrient Group. All prior periods have been restated to reflect this change.
The segment information below includes the allocation of expenses shared by one or more operating segments. Although management believes such allocations are reasonable, the operating information does not necessarily reflect how such data might appear if the segments were operated as separate businesses. Inter-segment sales are made at prices comparable to normal, unaffiliated customer sales. The Company does not have any customers who represent 10 percent or more of total revenues.
 
Three months ended
March 31,
(in thousands)
2015
 
2014
Revenues from external customers
 
 
 
Grain
$
585,162

 
$
583,159

Ethanol
138,180

 
188,820

Plant Nutrient
153,951

 
151,355

Rail
44,216

 
52,302

Retail
28,581

 
27,658

Total
$
950,090

 
$
1,003,294

 
Three months ended
March 31,
(in thousands)
2015
 
2014
Inter-segment sales
 
 
 
Grain
$
1,689

 
$
—

Plant Nutrient
317

 
289

Rail
181

 
109

Total
$
2,187

 
$
398

 
Three months ended
March 31,
(in thousands)
2015
 
2014
Income (loss) before income taxes
 
 
 
Grain
$
743

 
$
11,306

Ethanol
5,280

 
19,824

Plant Nutrient
424

 
(36
)
Rail
10,313

 
15,045

Retail
(2,183
)
 
(2,335
)
Other
(9,387
)
 
(7,224
)
Noncontrolling interests
(152
)
 
3,321

Total
$
5,038

 
$
39,901


(in thousands)
March 31, 2015
 
December 31, 2014
 
March 31, 2014
Identifiable assets
 
 
 
 
 
Grain
$
1,022,753

 
$
1,137,437

 
$
979,608

Ethanol
200,095

 
197,888

 
224,931

Plant Nutrient
496,906

 
433,013

 
421,757

Rail
381,909

 
365,531

 
303,532

Retail
47,413

 
44,536

 
47,710

Other
138,551

 
186,287

 
148,045

Total
$
2,287,627

 
$
2,364,692

 
$
2,125,583