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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2018
Revenue from Contract with Customer [Abstract] |
Schedule of Breakdown of Revenues between ASC 606 | The breakdown of revenues between ASC 606 and other standards is as follows:
(in thousands) |  | For the Year ended December 31, 2018
Revenues under ASC 606 |  | $ | 898,885 |
Revenues under ASC 840 |  | 105,631 |
Revenues under ASC 815 |  | 2,040,866 |
Total Revenues |  | $ | 3,045,382 |
Schedule of Disaggregation of Revenues | The following tables disaggregate revenues under ASC 606 by major product/service line:
| Twelve months ended December 31, 2018
(in thousands) | Grain |  | Ethanol |  | Plant Nutrient |  | Rail |  | Total
Specialty nutrients | $ | — |  |  | $ | — |  |  | $ | 260,821 |  |  | $ | — |  |  | $ | 260,821 |
Primary nutrients | — |  |  | — |  |  | 399,566 |  |  | — |  |  | 399,566 |
Services | 14,666 |  |  | 10,786 |  |  | 4,411 |  |  | 35,179 |  |  | 65,042 |
Co-products | — |  |  | 114,489 |  |  | — |  |  | — |  |  | 114,489 |
Other | 1,035 |  |  | — |  |  | 25,738 |  |  | 32,194 |  |  | 58,967 |
Total | $ | 15,701 |  |  | $ | 125,275 |  |  | $ | 690,536 |  |  | $ | 67,373 |  |  | $ | 898,885 |
Schedule of Opening and Closing Balances of Company's Contract Assets and Liabilities | The opening and closing balances of the Company’s contract liabilities are as follows:
(in thousands) | Contract liabilities
Balance at January 1, 2018 | $ | 25,520 |
Balance at December 31, 2018 | 28,858 |
Schedule of Effects of New Accounting Pronouncements in Balance Sheet and Statement of Operations | The following table compares the balance sheet, as of December 31, 2018, to the pro forma amounts had the previous guidance been in effect:
| Balance Sheet
| December 31, 2018
(in thousands) | As Reported |  | ASC 606 Impact |  | Pro forma as if the previous accounting guidance was in effect
Cash and cash equivalents and restricted cash | $ | 22,593 |  |  | $ | — |  |  | $ | 22,593 |
Accounts receivable, net | 207,285 |  |  | — |  |  | 207,285 |
Inventories | 690,804 |  |  | 74 |  |  | 690,878 |
Commodity derivative assets - current | 51,421 |  |  | — |  |  | 51,421 |
Other current assets | 51,095 |  |  | (114 | ) |  | 50,981 |
Other noncurrent assets | 370,309 |  |  | — |  |  | 370,309 |
Rail Group assets leased to others, net | 521,785 |  |  | (22,709 | ) |  | 499,076 |
Property, plant and equipment, net | 476,711 |  |  | — |  |  | 476,711 |
Total assets | 2,392,003 |  |  | (22,749 | ) |  | 2,369,254 |
Short-term debt and current maturities of long-term debt | 226,589 |  |  | (4,842 | ) |  | 221,747 |
Trade and other payables and accrued expenses and other current liabilities | 541,581 |  |  | — |  |  | 541,581 |
Commodity derivative liabilities - current | 32,647 |  |  | — |  |  | 32,647 |
Customer prepayments and deferred revenue | 32,533 |  |  | — |  |  | 32,533 |
Commodity derivative liabilities - noncurrent and Other long-term liabilities | 33,073 |  |  | — |  |  | 33,073 |
Employee benefit plan obligations | 22,542 |  |  | — |  |  | 22,542 |
Long-term debt, less current maturities | 496,187 |  |  | (29,177 | ) |  | 467,010 |
Deferred income taxes | 130,087 |  |  | 3,492 |  |  | 133,579 |
Total liabilities | 1,515,239 |  |  | (30,527 | ) |  | 1,484,712 |
Retained earnings | 647,517 |  |  | 7,778 |  |  | 655,295 |
Common shares, additional paid-in-capital, treasury shares, accumulated other comprehensive loss and noncontrolling interests | 229,247 |  |  | — |  |  | 229,247 |
Total equity | 876,764 |  |  | 7,778 |  |  | 884,542 |
Total liabilities and equity | $ | 2,392,003 |  |  | $ | (22,749 | ) |  | $ | 2,369,254 |
The following table compares the reported condensed statement of operations for the year ended December 31, 2018, to the pro forma amounts had the previous guidance been in effect:
| Statement of Operations
| December 31, 2018
(in thousands) | As Reported |  | ASC 606 Impact |  | Pro forma as if the previous accounting guidance was in effect
Sales and merchandising revenues | $ | 3,045,382 |  |  | $ | 701,437 |  |  | $ | 3,746,819 |
Cost of sales and merchandising revenues | 2,743,377 |  |  | 703,358 |  |  | 3,446,735 |
Gross profit | 302,005 |  |  | (1,921 | ) |  | $ | 300,084 |
Operating, administrative and general expenses | 257,872 |  |  | — |  |  | $ | 257,872 |
Asset impairment | 6,272 |  |  | — |  |  | $ | 6,272 |
Interest expense | 27,848 |  |  | (1,563 | ) |  | $ | 26,285 |
Other income: |  |  |  |  |  |
Equity in earnings of affiliates, net | 27,141 |  |  | — |  |  | $ | 27,141 |
Other income, net | 16,002 |  |  | — |  |  | $ | 16,002 |
Income (loss) before income taxes | 53,156 |  |  | (358 | ) |  | $ | 52,798 |
Income tax provision | 11,931 |  |  | (89 | ) |  | $ | 11,842 |
Net income (loss) | 41,225 |  |  | (269 | ) |  | $ | 40,956 |
Net income attributable to the noncontrolling interests | (259 | ) |  | — |  |  | $ | (259 | )
Net income (loss) attributable to The Andersons, Inc. | $ | 41,484 |  |  | $ | (269 | ) |  | $ | 41,215 |

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