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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Estimated fair value of Company's commodity derivative instruments for cash collateral and associated cash as collateral | The net asset or liability positions of these derivatives (net of their cash collateral) are determined on a counterparty-by-counterparty basis and are included within current or noncurrent commodity derivative assets (or liabilities) on the Condensed Consolidated Balance Sheets:
| September 30, 2017 |  | December 31, 2016 |  | September 30, 2016
(in thousands) | Net derivative asset position |  | Net derivative liability position |  | Net derivative asset position |  | Net derivative liability position |  | Net derivative asset position |  | Net derivative liability position
Collateral paid (received) | $ | 27,737 |  |  | $ | — |  |  | $ | 28,273 |  |  | $ | — |  |  | $ | 13,358 |  |  | $ | — |
Fair value of derivatives | (999 | ) |  | — |  |  | 1,599 |  |  | — |  |  | 16,258 |  |  | — |
Balance at end of period | $ | 26,738 |  |  | $ | — |  |  | $ | 29,872 |  |  | $ | — |  |  | $ | 29,616 |  |  | $ | — |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents, on a gross basis, current and noncurrent commodity derivative assets and liabilities:
| September 30, 2017
(in thousands) | Commodity Derivative Assets - Current |  | Commodity Derivative Assets - Noncurrent |  | Commodity Derivative Liabilities - Current |  | Commodity Derivative Liabilities - Noncurrent |  | Total
Commodity derivative assets | $ | 33,804 |  |  | $ | 288 |  |  | $ | 676 |  |  | $ | 74 |  |  | $ | 34,842 |
Commodity derivative liabilities | (16,339 | ) |  | (43 | ) |  | (39,254 | ) |  | (976 | ) |  | (56,612 | )
Cash collateral | 27,737 |  |  | — |  |  | — |  |  | — |  |  | 27,737 |
Balance sheet line item totals | $ | 45,202 |  |  | $ | 245 |  |  | $ | (38,578 | ) |  | $ | (902 | ) |  | $ | 5,967 |
| December 31, 2016
(in thousands) | Commodity Derivative Assets - Current |  | Commodity Derivative Assets - Noncurrent |  | Commodity Derivative Liabilities - Current |  | Commodity Derivative Liabilities - Noncurrent |  | Total
Commodity derivative assets | $ | 36,146 |  |  | $ | 140 |  |  | $ | 1,447 |  |  | $ | 6 |  |  | $ | 37,739 |
Commodity derivative liabilities | (18,972 | ) |  | (40 | ) |  | (24,614 | ) |  | (345 | ) |  | (43,971 | )
Cash collateral | 28,273 |  |  | — |  |  | — |  |  | — |  |  | 28,273 |
Balance sheet line item totals | $ | 45,447 |  |  | $ | 100 |  |  | $ | (23,167 | ) |  | $ | (339 | ) |  | $ | 22,041 |
| September 30, 2016
(in thousands) | Commodity Derivative Assets - Current |  | Commodity Derivative Assets - Noncurrent |  | Commodity Derivative Liabilities - Current |  | Commodity Derivative Liabilities - Noncurrent |  | Total
Commodity derivative assets | $ | 60,372 |  |  | $ | 1,356 |  |  | $ | 3,318 |  |  | $ | 58 |  |  | $ | 65,104 |
Commodity derivative liabilities | (13,893 | ) |  | (10 | ) |  | (63,088 | ) |  | (2,012 | ) |  | (79,003 | )
Cash collateral | 13,358 |  |  | — |  |  | — |  |  | — |  |  | 13,358 |
Balance sheet line item totals | $ | 59,837 |  |  | $ | 1,346 |  |  | $ | (59,770 | ) |  | $ | (1,954 | ) |  | $ | (541 | )
Amounts of quantities outstanding included in commodity derivative contracts | The Company had the following volume of commodity derivative contracts outstanding (on a gross basis) at September 30, 2017, December 31, 2016 and September 30, 2016:
| September 30, 2017
Commodity (in thousands) | Number of Bushels |  | Number of Gallons |  | Number of Pounds |  | Number of Tons
Non-exchange traded: |  |  |  |  |  |  |
Corn | 222,287 |  |  | — |  |  | — |  |  | — |
Soybeans | 44,463 |  |  | — |  |  | — |  |  | — |
Wheat | 8,598 |  |  | — |  |  | — |  |  | — |
Oats | 36,451 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 201,521 |  |  |  |  |  | — |
Corn oil | — |  |  | — |  |  | 5,782 |  |  | — |
Other | 51 |  |  | — |  |  |  |  |  | 110 |
Subtotal | 311,850 |  |  | 201,521 |  |  | 5,782 |  |  | 110 |
Exchange traded: |  |  |  |  |  |  |
Corn | 113,990 |  |  | — |  |  | — |  |  | — |
Soybeans | 45,220 |  |  | — |  |  | — |  |  | — |
Wheat | 61,795 |  |  | — |  |  | — |  |  | — |
Oats | 895 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 22,890 |  |  | — |  |  | — |
Other | — |  |  | 840 |  |  | — |  |  | — |
Subtotal | 221,900 |  |  | 23,730 |  |  | — |  |  | — |
Total | 533,750 |  |  | 225,251 |  |  | 5,782 |  |  | 110 |
| December 31, 2016
Commodity (in thousands) | Number of Bushels |  | Number of Gallons |  | Number of Pounds |  | Number of Tons
Non-exchange traded: |  |  |  |  |  |  |
Corn | 175,549 |  |  | — |  |  | — |  |  | — |
Soybeans | 20,592 |  |  | — |  |  | — |  |  | — |
Wheat | 7,177 |  |  | — |  |  | — |  |  | — |
Oats | 36,025 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 215,081 |  |  | — |  |  | — |
Corn oil | — |  |  | — |  |  | 9,358 |  |  | — |
Other | 108 |  |  | 1,144 |  |  | — |  |  | 110 |
Subtotal | 239,451 |  |  | 216,225 |  |  | 9,358 |  |  | 110 |
Exchange traded: |  |  |  |  |  |  |
Corn | 63,225 |  |  | — |  |  | — |  |  | — |
Soybeans | 39,005 |  |  | — |  |  | — |  |  | — |
Wheat | 45,360 |  |  | — |  |  | — |  |  | — |
Oats | 4,120 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 78,120 |  |  | — |  |  | — |
Subtotal | 151,710 |  |  | 78,120 |  |  | — |  |  | — |
Total | 391,161 |  |  | 294,345 |  |  | 9,358 |  |  | 110 |
| September 30, 2016
Commodity (in thousands) | Number of Bushels |  | Number of Gallons |  | Number of Pounds |  | Number of Tons
Non-exchange traded: |  |  |  |  |  |  |
Corn | 226,492 |  |  | — |  |  | — |  |  | — |
Soybeans | 60,614 |  |  | — |  |  | — |  |  | — |
Wheat | 7,933 |  |  | — |  |  | — |  |  | — |
Oats | 28,939 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 191,906 |  |  | — |  |  | — |
Corn oil | — |  |  | — |  |  | 7,153 |  |  | — |
Other | 129 |  |  | — |  |  | — |  |  | 251 |
Subtotal | 324,107 |  |  | 191,906 |  |  | 7,153 |  |  | 251 |
Exchange traded: |  |  |  |  |  |  |
Corn | 105,395 |  |  | — |  |  | — |  |  | — |
Soybeans | 35,245 |  |  | — |  |  | — |  |  | — |
Wheat | 39,715 |  |  | — |  |  | — |  |  | — |
Oats | 2,800 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 74,046 |  |  | — |  |  | — |
Subtotal | 183,155 |  |  | 74,046 |  |  | — |  |  | — |
Total | 507,262 |  |  | 265,952 |  |  | 7,153 |  |  | 251 |
Company's Condensed Consolidated Statement of Income gains and location of line items |
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2017 |  | 2016 |  | 2017 |  | 2016
Interest rate derivative gains (losses) included in Interest income (expense) | $ | 229 |  |  | $ | 652 |  |  | $ | 601 |  |  | $ | (1,642 | )
Foreign currency derivative gains (losses) included in Other income, net | 950 |  |  | (261 | ) |  | 1,717 |  |  | (1,130 | )
The gains and losses included in the Company’s Condensed Consolidated Statements of Operations and the line items in which they are located are as follows:
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2017 |  | 2016 |  | 2017 |  | 2016
Gains (losses) on commodity derivatives included in cost of sales and merchandising revenues | $ | (690 | ) |  | $ | (48,620 | ) |  | $ | (15,538 | ) |  | $ | (22,679 | )
Schedule of Fair Value of Interest Rate Derivative Liabilities | t September 30, 2017, December 31, 2016 and September 30, 2016, the Company had recorded the following amounts for the fair value of the Company's other derivatives not designated as hedging instruments:
| September 30, 2017 |  | December 31, 2016 |  | September 30, 2016
(in thousands) |  |
Interest rate contracts included in Other long-term liabilities | $ | (1,929 | ) |  | $ | (2,530 | ) |  | $ | (4,774 | )
Foreign currency contracts included in Other current assets (Accrued expenses and other current liabilities) | 1,605 |  |  | (112 | ) |  | 1,130 |

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