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Revenue | 9 Months Ended
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Sep. 30, 2019
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Many of the Company’s revenues are generated from contracts that are outside the scope of ASC 606 and thus are accounted for under other accounting standards. Specifically, many of the Company's Trade and Ethanol sales contracts are derivatives under ASC 815, Derivatives and Hedging and the Rail Group's leasing revenue is accounted for under ASC 842, Leases. The breakdown of revenues between ASC 606 and other standards is as follows:
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Revenues under ASC 606 | $ | 273,945 |  |  | $ | 156,394 |  |  | $ | 1,083,383 |  |  | $ | 706,927 |
Revenues under ASC 842 | 26,418 |  |  | 25,853 |  |  | 87,122 |  |  | 78,110 |
Revenues under ASC 815 | 1,682,392 |  |  | 503,332 |  |  | 5,114,083 |  |  | 1,447,683 |
Total Revenues | $ | 1,982,755 |  |  | $ | 685,579 |  |  | $ | 6,284,588 |  |  | $ | 2,232,720 |
The remainder of this note applies only to those revenues that are accounted for under ASC 606. Disaggregation of revenue The following tables disaggregate revenues under ASC 606 by major product/service line for the three and nine months ended September 30, 2019 and 2018, respectively:
| Three months ended September 30, 2019
(in thousands) | Trade |  | Ethanol |  | Plant Nutrient |  | Rail |  | Total
Specialty nutrients | $ | 9,840 |  |  | $ | — |  |  | $ | 35,182 |  |  | $ | — |  |  | $ | 45,022 |
Primary nutrients | 4,610 |  |  | — |  |  | 66,733 |  |  | — |  |  | 71,343 |
Services | 2,507 |  |  | 3,187 |  |  | 1,275 |  |  | 9,719 |  |  | 16,688 |
Products and co-products | 48,158 |  |  | 34,655 |  |  | — |  |  | — |  |  | 82,813 |
Frac sand and propane | 47,188 |  |  | — |  |  | — |  |  | — |  |  | 47,188 |
Other | 2,159 |  |  | 163 |  |  | 6,256 |  |  | 2,313 |  |  | 10,891 |
Total | $ | 114,462 |  |  | $ | 38,005 |  |  | $ | 109,446 |  |  | $ | 12,032 |  |  | $ | 273,945 |
| Three months ended September 30, 2018
(in thousands) | Trade |  | Ethanol |  | Plant Nutrient |  | Rail |  | Total
Specialty nutrients | $ | — |  |  | $ | — |  |  | $ | 36,856 |  |  | $ | — |  |  | $ | 36,856 |
Primary nutrients | — |  |  | — |  |  | 60,460 |  |  | — |  |  | 60,460 |
Service | 2,232 |  |  | 3,533 |  |  | 877 |  |  | 8,925 |  |  | 15,567 |
Co-products | — |  |  | 29,282 |  |  | — |  |  | — |  |  | 29,282 |
Other | 245 |  |  | — |  |  | 5,996 |  |  | 7,988 |  |  | 14,229 |
Total | $ | 2,477 |  |  | $ | 32,815 |  |  | $ | 104,189 |  |  | $ | 16,913 |  |  | $ | 156,394 |
| Nine months ended September 30, 2019
(in thousands) | Trade |  | Ethanol |  | Plant Nutrient |  | Rail |  | Total
Specialty nutrients | $ | 45,648 |  |  | $ | — |  |  | $ | 191,247 |  |  | $ | — |  |  | $ | 236,895 |
Primary nutrients | 27,401 |  |  | — |  |  | 294,729 |  |  | — |  |  | 322,130 |
Service | 11,077 |  |  | 10,170 |  |  | 3,133 |  |  | 28,944 |  |  | 53,324 |
Products and Co-products | 166,859 |  |  | 88,170 |  |  | — |  |  | — |  |  | 255,029 |
Frac sand and propane | 184,418 |  |  | — |  |  | — |  |  | — |  |  | 184,418 |
Other | 5,860 |  |  | 198 |  |  | 19,439 |  |  | 6,090 |  |  | 31,587 |
Total | $ | 441,263 |  |  | $ | 98,538 |  |  | $ | 508,548 |  |  | $ | 35,034 |  |  | $ | 1,083,383 |
| Nine months ended September 30, 2018
(in thousands) | Trade |  | Ethanol |  | Plant Nutrient |  | Rail |  | Total
Specialty nutrients | $ | — |  |  | $ | — |  |  | $ | 206,215 |  |  | $ | — |  |  | $ | 206,215 |
Primary nutrients | — |  |  | — |  |  | 313,967 |  |  | — |  |  | 313,967 |
Service | 8,386 |  |  | 10,483 |  |  | 3,498 |  |  | 26,350 |  |  | 48,717 |
Co-products | — |  |  | 88,390 |  |  | — |  |  | — |  |  | 88,390 |
Other | 747 |  |  | — |  |  | 19,231 |  |  | 29,660 |  |  | 49,638 |
Total | $ | 9,133 |  |  | $ | 98,873 |  |  | $ | 542,911 |  |  | $ | 56,010 |  |  | $ | 706,927 |
Approximately 5% and 10% of revenues accounted for under ASC 606 during each of the three months ended September 30, 2019 and 2018, are recorded over time which primarily relates to service revenues noted above. Additionally, during the nine months ended September 30, 2019 and 2018, approximately 5% and 7% of revenues were accounted for under ASC 606, respectively. Contract balances The opening and closing balances of the Company’s contract liabilities are as follows:
(in thousands) | 2019 |  | 2018
Balance at January 1, | $ | 28,858 |  |  | $ | 25,520 |
Balance at March 31, | 146,824 |  |  | 67,715 |
Balance at June 30, | 48,225 |  |  | 10,047 |
Balance at September 30, | 34,306 |  |  | 29,836 |
Exclusive of acquisition related impacts, the residual difference between the opening and closing balances of the Company’s contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. The contract liabilities have two main drivers, including Trade prepayments by counter parties and payments for primary and specialty nutrients received in advance of fulfilling our performance obligations under our customer contracts. The primary and specialty business records contract liabilities for payments received in advance of fulfilling our performance obligations under our customer contracts. Further, due to seasonality of this business, contract liabilities were built up in the first quarter of the year. In the third quarter, the decrease in liabilities is due to the revenue recognized in the current period relating to the liability built up in the first quarter.

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- References No definition available. + Details
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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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