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Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2018
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:
| June 30, 2018 |  | December 31, 2017 |  | June 30, 2017
(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) | $ | (52,888 | ) |  | $ | — |  |  | $ | 1,351 |  |  | $ | — |  |  | $ | 15,452 |  |  | $ | — |
Fair value of derivatives | 68,244 |  |  | — |  |  | 17,252 |  |  | — |  |  | (12,835 | ) |  | — |
Balance at end of period | $ | 15,356 |  |  | $ | — |  |  | $ | 18,603 |  |  | $ | — |  |  | $ | 2,617 |  |  | $ | — |
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:
| June 30, 2018
(in thousands) | Commodity Derivative Assets - Current |  | Commodity Derivative Assets - Noncurrent |  | Commodity Derivative Liabilities - Current |  | Commodity Derivative Liabilities - Noncurrent |  | Total
Commodity derivative assets | $ | 123,917 |  |  | $ | 1,022 |  |  | $ | 626 |  |  | $ | 36 |  |  | $ | 125,601 |
Commodity derivative liabilities | (16,770 | ) |  | (14 | ) |  | (85,786 | ) |  | (3,238 | ) |  | (105,808 | )
Cash collateral | (52,888 | ) |  | — |  |  | — |  |  | — |  |  | (52,888 | )
Balance sheet line item totals | $ | 54,259 |  |  | $ | 1,008 |  |  | $ | (85,160 | ) |  | $ | (3,202 | ) |  | $ | (33,095 | )
| December 31, 2017
(in thousands) | Commodity Derivative Assets - Current |  | Commodity Derivative Assets - Noncurrent |  | Commodity Derivative Liabilities - Current |  | Commodity Derivative Liabilities - Noncurrent |  | Total
Commodity derivative assets | $ | 36,929 |  |  | $ | 311 |  |  | $ | 489 |  |  | $ | 1 |  |  | $ | 37,730 |
Commodity derivative liabilities | (7,578 | ) |  | (1 | ) |  | (30,140 | ) |  | (826 | ) |  | (38,545 | )
Cash collateral | 1,351 |  |  | — |  |  | — |  |  | — |  |  | 1,351 |
Balance sheet line item totals | $ | 30,702 |  |  | $ | 310 |  |  | $ | (29,651 | ) |  | $ | (825 | ) |  | $ | 536 |
| June 30, 2017
(in thousands) | Commodity Derivative Assets - Current |  | Commodity Derivative Assets - Noncurrent |  | Commodity Derivative Liabilities - Current |  | Commodity Derivative Liabilities - Noncurrent |  | Total
Commodity derivative assets | $ | 26,101 |  |  | $ | 1,201 |  |  | $ | 4,404 |  |  | $ | 2 |  |  | $ | 31,708 |
Commodity derivative liabilities | (29,934 | ) |  | (10 | ) |  | (22,508 | ) |  | (336 | ) |  | (52,788 | )
Cash collateral | 15,452 |  |  | — |  |  | — |  |  | — |  |  | 15,452 |
Balance sheet line item totals | $ | 11,619 |  |  | $ | 1,191 |  |  | $ | (18,104 | ) |  | $ | (334 | ) |  | $ | (5,628 | )
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 June 30, 2018, December 31, 2017 and June 30, 2017:
| June 30, 2018
Commodity (in thousands) | Number of Bushels |  | Number of Gallons |  | Number of Pounds |  | Number of Tons
Non-exchange traded: |  |  |  |  |  |  |
Corn | 272,979 |  |  | — |  |  | — |  |  | — |
Soybeans | 49,208 |  |  | — |  |  | — |  |  | — |
Wheat | 11,163 |  |  | — |  |  | — |  |  | — |
Oats | 36,612 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 332,761 |  |  |  |  |  | — |
Corn oil | — |  |  | — |  |  | 6,158 |  |  | — |
Other | 82 |  |  | 1,500 |  |  | — |  |  | 77 |
Subtotal | 370,044 |  |  | 334,261 |  |  | 6,158 |  |  | 77 |
Exchange traded: |  |  |  |  |  |  |
Corn | 133,730 |  |  | — |  |  | — |  |  | — |
Soybeans | 45,775 |  |  | — |  |  | — |  |  | — |
Wheat | 48,105 |  |  | — |  |  | — |  |  | — |
Oats | 1,190 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 140,364 |  |  | — |  |  | — |
Subtotal | 228,800 |  |  | 140,364 |  |  | — |  |  | — |
Total | 598,844 |  |  | 474,625 |  |  | 6,158 |  |  | 77 |
| December 31, 2017
Commodity (in thousands) | Number of Bushels |  | Number of Gallons |  | Number of Pounds |  | Number of Tons
Non-exchange traded: |  |  |  |  |  |  |
Corn | 218,391 |  |  |  |  |  |  |  |  | — |
Soybeans | 18,127 |  |  | — |  |  | — |  |  | — |
Wheat | 14,577 |  |  | — |  |  | — |  |  | — |
Oats | 25,953 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 197,607 |  |  | — |  |  | — |
Corn oil | — |  |  | — |  |  | 6,074 |  |  | — |
Other | 47 |  |  | — |  |  | — |  |  | 97 |
Subtotal | 277,095 |  |  | 197,607 |  |  | 6,074 |  |  | 97 |
Exchange traded: |  |  |  |  |  |  |
Corn | 82,835 |  |  | — |  |  | — |  |  | — |
Soybeans | 37,170 |  |  | — |  |  | — |  |  | — |
Wheat | 65,640 |  |  | — |  |  | — |  |  | — |
Oats | 1,345 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 39,438 |  |  | — |  |  | — |
Other | — |  |  | 840 |  |  | — |  |  | — |
Subtotal | 186,990 |  |  | 40,278 |  |  | — |  |  | — |
Total | 464,085 |  |  | 237,885 |  |  | 6,074 |  |  | 97 |
| June 30, 2017
Commodity (in thousands) | Number of Bushels |  | Number of Gallons |  | Number of Pounds |  | Number of Tons
Non-exchange traded: |  |  |  |  |  |  |
Corn | 184,197 |  |  | — |  |  | — |  |  | — |
Soybeans | 31,532 |  |  | — |  |  | — |  |  | — |
Wheat | 7,340 |  |  | — |  |  | — |  |  | — |
Oats | 41,526 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 256,518 |  |  | — |  |  | — |
Corn oil | — |  |  | — |  |  | 4,658 |  |  | — |
Other | 90 |  |  | 500 |  |  | — |  |  | 100 |
Subtotal | 264,685 |  |  | 257,018 |  |  | 4,658 |  |  | 100 |
Exchange traded: |  |  |  |  |  |  |
Corn | 94,895 |  |  | — |  |  | — |  |  | — |
Soybeans | 27,470 |  |  | — |  |  | — |  |  | — |
Wheat | 43,925 |  |  | — |  |  | — |  |  | — |
Oats | 2,290 |  |  | — |  |  | — |  |  | — |
Ethanol | — |  |  | 3,990 |  |  | — |  |  | — |
Other | — |  |  | 840 |  |  | — |  |  | 60 |
Subtotal | 168,580 |  |  | 4,830 |  |  | — |  |  | 60 |
Total | 433,265 |  |  | 261,848 |  |  | 4,658 |  |  | 160 |
Company's Condensed Consolidated Statement of Income gains and location of line items | The net pre-tax gains and losses on commodity derivatives not designated as hedging instruments included in the Company’s Condensed Consolidated Statements of Operations and the line items in which they are located for the three and six months ended June 30, 2018 and 2017 are as follows:
| Three months ended June 30, |  | Six months ended June 30,
(in thousands) | 2018 |  | 2017 |  | 2018 |  | 2017
Gains (losses) on commodity derivatives included in cost of sales and merchandising revenues | $ | 45,844 |  |  | $ | (41,873 | ) |  | $ | 20,608 |  |  | $ | (14,848 | )
| Three months ended June 30, |  | Six months ended June 30,
(in thousands) | 2018 |  | 2017 |  | 2018 |  | 2017
Derivatives not designated as hedging instruments |  |  |  |  |  |  |
Interest rate derivative gains (losses) included in Interest income (expense) | $ | 351 |  |  | $ | (17 | ) |  | $ | 1,141 |  |  | $ | 372 |
Foreign currency derivative gains (losses) included in Other income, net | (413 | ) |  | 669 |  |  | (1,535 | ) |  | 767 |
Derivatives designated as hedging instruments |  |  |  |  |  |  |
Interest rate derivative gains (losses) included in OCI | 67 |  |  | — |  |  | 67 |  |  | — |
Schedule of Fair Value of Interest Rate Derivative Liabilities | t June 30, 2018, December 31, 2017 and June 30, 2017, the Company had recorded the following amounts for the fair value of the Company's other derivatives:
| June 30, 2018 |  | December 31, 2017 |  | June 30, 2017
(in thousands) |  |
Derivatives not designated as hedging instruments |  |  |  |  |
Interest rate contracts included in Other long-term liabilities | $ | (37 | ) |  | $ | (1,244 | ) |  | $ | (2,158 | )
Foreign currency contracts included in Other current assets (Accrued expenses and other current liabilities) | (1,109 | ) |  | 426 |  |  | 654 |
Derivatives designated as hedging instruments |  |  |  |  |
Interest rate contract included in Accrued expenses and other current liabilities | (88 | ) |  | — |  |  | — |
Interest rate contract included in Other assets | 155 |  |  | — |  |  | — |

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