XML 39 R22.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2016
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 Thompsons Limited. 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 base nutrient and value add fertilizers, to dealers and farmers, along with turf care and corncob-based products. The Retail business operates large retail stores, a distribution center, and a lawn and garden equipment sales and service facility. In January 2017, the Company announced that the Retail segment will be closed in the first half of 2017. Included in “Other” are the corporate level costs not attributed to an operating segment. 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.
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Revenues from external customers |  |  |  |  |
Grain | $ | 2,357,171 |  |  | $ | 2,483,643 |  |  | $ | 2,682,038 |
Ethanol | 544,556 |  |  | 556,188 |  |  | 765,939 |
Plant Nutrient | 725,176 |  |  | 848,338 |  |  | 802,333 |
Rail | 163,658 |  |  | 170,848 |  |  | 148,954 |
Retail | 134,229 |  |  | 139,478 |  |  | 140,807 |
Total | $ | 3,924,790 |  |  | $ | 4,198,495 |  |  | $ | 4,540,071 |
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Inter-segment sales |  |  |  |  |
Grain | $ | 1,638 |  |  | $ | 3,573 |  |  | $ | 5,066 |
Plant Nutrient | 470 |  |  | 682 |  |  | 627 |
Rail | 1,399 |  |  | 1,192 |  |  | 466 |
Total | $ | 3,507 |  |  | $ | 5,447 |  |  | $ | 6,159 |
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Interest expense (income) |  |  |  |  |
Grain | $ | 7,955 |  |  | $ | 5,778 |  |  | $ | 8,785 |
Ethanol | 35 |  |  | 70 |  |  | 255 |
Plant Nutrient | 6,448 |  |  | 7,243 |  |  | 5,278 |
Rail | 6,461 |  |  | 7,006 |  |  | 7,247 |
Retail | 496 |  |  | 356 |  |  | 666 |
Other | (276 | ) |  | (381 | ) |  | (471 | )
Total | $ | 21,119 |  |  | $ | 20,072 |  |  | $ | 21,760 |
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Equity in earnings of affiliates |  |  |  |  |
Grain | $ | (8,746 | ) |  | $ | 14,703 |  |  | $ | 27,643 |
Ethanol | 18,467 |  |  | 17,221 |  |  | 68,880 |
Total | $ | 9,721 |  |  | $ | 31,924 |  |  | $ | 96,523 |
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Other income, net |  |  |  |  |
Grain | $ | 5,472 |  |  | $ | 26,229 |  |  | $ | 21,450 |
Ethanol | 77 |  |  | 377 |  |  | 223 |
Plant Nutrient | 3,716 |  |  | 3,046 |  |  | 4,372 |
Rail | 2,218 |  |  | 15,935 |  |  | 3,094 |
Retail | 507 |  |  | 557 |  |  | 955 |
Other | 2,785 |  |  | 328 |  |  | 1,031 |
Total | $ | 14,775 |  |  | $ | 46,472 |  |  | $ | 31,125 |
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Income (loss) before income taxes |  |  |  |  |
Grain | $ | (15,651 | ) |  | $ | (9,446 | ) |  | $ | 58,136 |
Ethanol | 24,723 |  |  | 28,503 |  |  | 92,257 |
Plant Nutrient | 14,176 |  |  | 121 |  |  | 24,514 |
Rail | 32,428 |  |  | 50,681 |  |  | 31,445 |
Retail | (8,848 | ) |  | (455 | ) |  | (620 | )
Other* | (28,323 | ) |  | (82,713 | ) |  | (34,505 | )
Non-controlling interests | 2,876 |  |  | 1,745 |  |  | 12,919 |
Total | $ | 21,381 |  |  | $ | (11,564 | ) |  | $ | 184,146 |
* includes pension settlement charges in 2015
| Year ended December 31,
(in thousands) | 2016 |  | 2015
Identifiable assets |  |  |
Grain | $ | 961,114 |  |  | $ | 1,010,810 |
Ethanol | 171,115 |  |  | 183,080 |
Plant Nutrient | 484,455 |  |  | 531,753 |
Rail | 398,446 |  |  | 405,702 |
Retail | 31,257 |  |  | 44,135 |
Other | 186,462 |  |  | 183,621 |
Total | $ | 2,232,849 |  |  | $ | 2,359,101 |
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Capital expenditures |  |  |  |  |
Grain | $ | 21,428 |  |  | $ | 26,862 |  |  | $ | 20,958 |
Ethanol | 2,301 |  |  | 7,223 |  |  | 2,256 |
Plant Nutrient | 15,153 |  |  | 14,384 |  |  | 24,491 |
Rail | 4,345 |  |  | 2,990 |  |  | 2,332 |
Retail | 436 |  |  | 1,005 |  |  | 1,190 |
Other | 34,077 |  |  | 20,005 |  |  | 8,448 |
Total | $ | 77,740 |  |  | $ | 72,469 |  |  | $ | 59,675 |
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Acquisition of businesses, net of cash acquired and other investments |  |  |  |  |
Grain | $ | — |  |  | $ | — |  |  | $ | 40,206 |
Ethanol | — |  |  | — |  |  | — |
Plant Nutrient | — |  |  | 128,549 |  |  | 15,489 |
Rail | — |  |  | — |  |  | — |
Other | 2,500 |  |  | 750 |  |  | 100 |
Total | $ | 2,500 |  |  | $ | 129,299 |  |  | $ | 55,795 |
| Year ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014
Depreciation and amortization |  |  |  |  |
Grain | $ | 18,232 |  |  | $ | 19,240 |  |  | $ | 16,547 |
Ethanol | 5,925 |  |  | 5,865 |  |  | 5,700 |
Plant Nutrient | 28,663 |  |  | 25,179 |  |  | 19,624 |
Rail | 20,082 |  |  | 18,450 |  |  | 13,262 |
Retail | 2,452 |  |  | 2,510 |  |  | 2,668 |
Other | 8,971 |  |  | 7,212 |  |  | 4,204 |
Total | $ | 84,325 |  |  | $ | 78,456 |  |  | $ | 62,005 |
Grain sales for export to foreign markets amounted to $78.3 million, $195.6 million and $251.4 million in 2016, 2015 and 2014, respectively - the majority of which were sales to Canadian customers. Revenues from leased railcars in Canada totaled $13.2 million, $11.0 million and $9.1 million in 2016, 2015 and 2014, respectively. The net book value of the leased railcars in Canada as of December 31, 2016 and 2015 was $26.8 million and $26.6 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration