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Subsequent Events | 9 Months Ended
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Sep. 30, 2019
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events On October 1, 2019, the Company entered into a definitive agreement to merge The Andersons Albion Ethanol LLC, The Andersons Clymers Ethanol LLC, The Andersons Marathon Ethanol LLC and the Company's wholly-owned The Andersons Denison Ethanol LLC into a new legal entity named The Andersons Marathon Holdings LLC ("TAMH"). As a result of the merger, The Andersons and Marathon will own 50.1% and 49.9% of TAMH equity, respectively. The transaction will result in the consolidation of TAMH’s results in the Company's financial statements effective October 1, 2019. Effective October 1, 2019, in conjunction with the merger noted above, TAMH entered into a credit agreement that includes a $70 million term note and a $130 million revolving credit facility. Borrowings under the credit agreement bear interest at variable interest rates, which are based on LIBOR plus an applicable spread. Payments on the term loan will be made on a quarterly basis. On October 2, 2019, the Company closed on the sale of its farm center assets in Bay City, Michigan. A pretax gain of $2.9 million will be realized in the fourth quarter of 2019. During the fourth quarter, the Company reached an agreement to sell the agronomy assets of Thompsons Limited, a wholly owned subsidiary in Ontario, Canada, to Sylvite Holdings Inc. of Burlington, Ontario. The sale is expected to close in the fourth quarter. The Andersons will continue to own and operate Thompsons' grain storage and food processing facilities in Ontario.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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