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Segment Information | 9 Months Ended
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Sep. 30, 2019
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s operations include four reportable business segments that are distinguished primarily on the basis of products and services offered. The Trade business includes grain merchandising, the operation of terminal grain elevator facilities and, historically, the investments in LTG and Thompsons Limited. In January 2019, the Company acquired the remaining 67.5% of LTG equity that it did not already own. The transaction also resulted in the consolidation of Thompsons Limited of Ontario, Canada and related entities, which LTG and the Company jointly owned. The Company has evaluated its segment reporting structure as a result of the acquisition. The presentation includes a majority of the acquired business within the legacy Grain Group which has been renamed, Trade Group. The acquired ethanol trading business of LTG is included within the Ethanol Group. The Company also moved certain commission income and an elevator lease from the legacy Grain Group to the Ethanol Group to better align business segments. Prior year results have been recast to reflect this change. The Ethanol business purchases and sells ethanol, and provides risk management, origination and management services to ethanol production facilities. These facilities are organized as limited liability companies, two are consolidated and three are investments accounted for under the equity method. The Company performs a combination of these services under various contracts for these investments. The Plant Nutrient business manufactures and distributes agricultural inputs, primarily fertilizer, to dealers and farmers, along with turf care and corncob-based products. Rail operations include the leasing, marketing and fleet management of railcars and other assets, railcar repair and metal fabrication. The Other category includes other corporate level costs not attributable to an operating segment. The segment information below includes the allocation of expenses shared by one or more operating segments. Although management believes such allocations are reasonable, the operating information does not necessarily reflect how such data might appear if the segments were operated as separate businesses. Inter-segment sales are made at prices comparable to normal, unaffiliated customer sales. The Company does not have any customers who represent 10 percent or more of total revenue.
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Revenues from external customers |  |  |  |  |  |  |
Trade | $ | 1,580,157 |  |  | $ | 342,610 |  |  | $ | 4,944,483 |  |  | $ | 983,737 |
Ethanol | 254,055 |  |  | 195,669 |  |  | 708,029 |  |  | 571,090 |
Plant Nutrient | 109,446 |  |  | 104,188 |  |  | 508,548 |  |  | 542,911 |
Rail | 39,097 |  |  | 43,112 |  |  | 123,528 |  |  | 134,982 |
Total | $ | 1,982,755 |  |  | $ | 685,579 |  |  | $ | 6,284,588 |  |  | $ | 2,232,720 |
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Inter-segment sales |  |  |  |  |  |  |
Trade | $ | 242 |  |  | $ | 442 |  |  | $ | 1,054 |  |  | $ | 1,435 |
Plant Nutrient | 892 |  |  | — |  |  | 2,186 |  |  | — |
Rail | 824 |  |  | 288 |  |  | 2,869 |  |  | 959 |
Total | $ | 1,958 |  |  | $ | 730 |  |  | $ | 6,109 |  |  | $ | 2,394 |
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Income (loss) before income taxes, net of noncontrolling interest |  |  |  |  |  |  |
Trade | $ | (2,001 | ) |  | $ | (9,914 | ) |  | $ | 4,268 |  |  | $ | (2,453 | )
Ethanol | 949 |  |  | 10,353 |  |  | 6,169 |  |  | 20,703 |
Plant Nutrient | (7,440 | ) |  | (7,976 | ) |  | 4,534 |  |  | 8,239 |
Rail | 3,137 |  |  | 5,732 |  |  | 10,629 |  |  | 10,645 |
Other | (6,094 | ) |  | (2,057 | ) |  | (15,599 | ) |  | (13,734 | )
Income (loss) before income taxes, net of noncontrolling interest | (11,449 | ) |  | (3,862 | ) |  | 10,001 |  |  | 23,400 |
Noncontrolling interests | (1,633 | ) |  | 223 |  |  | (2,265 | ) |  | (175 | )
Income (loss) before income taxes | $ | (13,082 | ) |  | $ | (3,639 | ) |  | $ | 7,736 |  |  | $ | 23,225 |
(in thousands) | September 30, 2019 |  | December 31, 2018 |  | September 30, 2018
Identifiable assets |  |  |  |  |
Trade | $ | 1,712,350 |  |  | $ | 964,079 |  |  | $ | 773,923 |
Ethanol | 372,663 |  |  | 310,866 |  |  | 278,796 |
Plant Nutrient | 376,615 |  |  | 403,780 |  |  | 415,314 |
Rail | 679,056 |  |  | 590,407 |  |  | 564,227 |
Other | 143,768 |  |  | 122,871 |  |  | 119,358 |
Total | $ | 3,284,452 |  |  | $ | 2,392,003 |  |  | $ | 2,151,618 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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