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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis at December 31, 2018 and 2017:
(in thousands) | December 31, 2018
Assets (liabilities) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Commodity derivatives, net (a) | 37,229 |  |  | (18,864 | ) |  | — |  |  | 18,365 |
Provisionally priced contracts (b) | (76,175 | ) |  | (58,566 | ) |  | — |  |  | (134,741 | )
Convertible preferred securities (c) | — |  |  | — |  |  | 7,154 |  |  | 7,154 |
Other assets and liabilities (d) | 5,186 |  |  | (353 | ) |  | — |  |  | 4,833 |
Total | $ | (33,760 | ) |  | $ | (77,783 | ) |  | $ | 7,154 |  |  | $ | (104,389 | )
(in thousands) | December 31, 2017
Assets (liabilities) | Level 1 |  | Level 2 |  | Level 3 |  | Total
Commodity derivatives, net (a) | 18,603 |  |  | (18,067 | ) |  | — |  |  | 536 |
Provisionally priced contracts (b) | (98,190 | ) |  | (67,094 | ) |  | — |  |  | (165,284 | )
Convertible preferred securities (c) | — |  |  | — |  |  | 7,388 |  |  | 7,388 |
Other assets and liabilities (d) | 9,705 |  |  | (1,244 | ) |  | — |  |  | 8,461 |
Total | $ | (69,882 | ) |  | $ | (86,405 | ) |  | $ | 7,388 |  |  | $ | (148,899 | )
(a) | Includes associated cash posted/received as collateral
(b) | Included in "Provisionally priced contracts" are those instruments based only on underlying futures values (Level 1) and delayed price contracts (Level 2)
(c) | Recorded in “Other noncurrent assets” on the Company’s Consolidated Balance Sheets related to certain available for sale securities.
(d) Included in other assets and liabilities are assets held by the Company to fund deferred compensation plans, ethanol risk management contracts, and foreign exchange derivative contracts (Level 1) and interest rate derivatives (Level 2).
Schedule of Reconciliation of Beginning and Ending Balances for the Company's Fair Value Measurements Using Level 3 Inputs | A reconciliation of beginning and ending balances for the Company’s recurring fair value measurements using Level 3 inputs is as follows:
| Convertible Preferred Securities
(in thousands) | 2018 |  | 2017
Assets (liabilities) at January 1, | $ | 7,388 |  |  | $ | 3,294 |
New investments | 1,086 |  |  | 3,750 |
Sales proceeds | (6,400 | ) |  | — |
Gains (losses) included in earnings | 3,900 |  |  | — |
Unrealized gains (losses) included in other comprehensive income | 1,180 |  |  | 344 |
Assets (liabilities) at December 31, | $ | 7,154 |  |  | $ | 7,388 |
Schedule of Summarized Information About Level 3 Fair Value Measurements | The following tables summarize information about the Company's Level 3 fair value measurements as of December 31, 2018 and 2017:
Quantitative Information about Level 3 Fair Value Measurements
(in thousands) | Fair Value as of 12/31/18 |  | Valuation Method |  | Unobservable Input |  | Weighted Average
Convertible preferred securities | $ | 7,154 |  |  | Implied based on market prices |  | Various |  | N/A
(in thousands) | Fair Value as of 12/31/17 |  | Valuation Method |  | Unobservable Input |  | Weighted Average
Convertible preferred securities | $ | 7,388 |  |  | Implied based on market prices |  | Various |  | N/A
Real Property | $ | 29,347 |  |  | Third-Party Appraisal |  | N/A |  | N/A
Schedule of Fair Value of Long-term Borrowings Outstanding | Based upon the Company’s credit standing and current interest rates offered by the Company on similar bonds and rates currently available to the Company for long-term borrowings with similar terms and remaining maturities, the Company estimates the fair values of its fixed rate long-term debt instruments outstanding at December 31, 2018 and 2017, as follows:
(in thousands) | Carrying Amount |  | Fair Value |  | Fair Value Hierarchy Level
2018 |  |  |  |  |
Fixed rate long-term notes payable | $ | 261,618 |  |  | $ | 256,447 |  |  | Level 2
Debenture bonds | 27,324 |  |  | 26,154 |  |  | Level 2
| $ | 288,942 |  |  | $ | 282,601 |  |  |
2017 |  |  |  |  |
Fixed rate long-term notes payable | $ | 275,989 |  |  | $ | 275,340 |  |  | Level 2
Debenture bonds | 30,432 |  |  | 29,452 |  |  | Level 2
| $ | 306,421 |  |  | $ | 304,792 |  |  |

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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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