XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.21.2

Revenue | 9 Months Ended
--- | ---
Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Many of the Company’s revenues are generated from contracts that are outside the scope of Accounting Standard Codification ("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 leasing revenue is accounted for under ASC 842, Leases. The breakdown of revenues between ASC 606 and other standards are as follows:
| Three months ended September 30, |  | Nine months ended September 30,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Revenues under ASC 606 | $ | 457,621 |  |  | $ | 282,258 |  |  | $ | 1,568,529 |  |  | $ | 1,066,620 |
Revenues under ASC 815 | 2,541,203 |  |  | 1,603,328 |  |  | 7,260,819 |  |  | 4,489,697 |
Total revenues | $ | 2,998,824 |  |  | $ | 1,885,586 |  |  | $ | 8,829,348 |  |  | $ | 5,556,317 |
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, 2021 and 2020, respectively:
| Three months ended September 30, 2021
(in thousands) | Trade |  | Ethanol |  | Plant Nutrient |  | Total
Specialty nutrients | $ | — |  |  | $ | — |  |  | $ | 49,249 |  |  | $ | 49,249 |
Primary nutrients | — |  |  | — |  |  | 69,835 |  |  | 69,835 |
Services | 8,828 |  |  | — |  |  | 2,233 |  |  | 11,061 |
Products and co-products | 70,924 |  |  | 183,225 |  |  | — |  |  | 254,149 |
Frac sand and propane | 49,379 |  |  | — |  |  | — |  |  | 49,379 |
Other | 2,163 |  |  | 1,046 |  |  | 20,739 |  |  | 23,948 |
Total | $ | 131,294 |  |  | $ | 184,271 |  |  | $ | 142,056 |  |  | $ | 457,621 |
| Three months ended September 30, 2020
(in thousands) | Trade |  | Ethanol |  | Plant Nutrient |  | Total
Specialty nutrients | $ | — |  |  | $ | — |  |  | $ | 31,835 |  |  | $ | 31,835 |
Primary nutrients | — |  |  | — |  |  | 62,094 |  |  | 62,094 |
Service | 2,010 |  |  | — |  |  | 975 |  |  | 2,985 |
Products and co-products | 55,235 |  |  | 97,703 |  |  | — |  |  | 152,938 |
Frac sand and propane | 21,676 |  |  | — |  |  | — |  |  | 21,676 |
Other | 2,414 |  |  | 513 |  |  | 7,803 |  |  | 10,730 |
Total | $ | 81,335 |  |  | $ | 98,216 |  |  | $ | 102,707 |  |  | $ | 282,258 |
| Nine months ended September 30, 2021
(in thousands) | Trade |  | Ethanol |  | Plant Nutrient |  | Total
Specialty nutrients | $ | — |  |  | $ | — |  |  | $ | 210,971 |  |  | $ | 210,971 |
Primary nutrients | — |  |  | — |  |  | 355,098 |  |  | 355,098 |
Service | 12,396 |  |  | — |  |  | 7,391 |  |  | 19,787 |
Products and co-products | 217,859 |  |  | 513,132 |  |  | — |  |  | 730,991 |
Frac sand and propane | 178,094 |  |  | — |  |  | — |  |  | 178,094 |
Other | 9,132 |  |  | 5,199 |  |  | 59,257 |  |  | 73,588 |
Total | $ | 417,481 |  |  | $ | 518,331 |  |  | $ | 632,717 |  |  | $ | 1,568,529 |
| Nine months ended September 30, 2020
(in thousands) | Trade |  | Ethanol |  | Plant Nutrient |  | Total
Specialty nutrients | $ | — |  |  | $ | — |  |  | $ | 187,700 |  |  | $ | 187,700 |
Primary nutrients | — |  |  | — |  |  | 296,247 |  |  | 296,247 |
Service | 6,053 |  |  | — |  |  | 3,753 |  |  | 9,806 |
Products and co-products | 171,744 |  |  | 275,175 |  |  | — |  |  | 446,919 |
Frac sand and propane | 92,990 |  |  | — |  |  | — |  |  | 92,990 |
Other | 11,732 |  |  | 1,481 |  |  | 19,745 |  |  | 32,958 |
Total | $ | 282,519 |  |  | $ | 276,656 |  |  | $ | 507,445 |  |  | $ | 1,066,620 |
Substantially all of the Company's revenues accounted for under ASC 606 during both three and nine months periods ended September 30, 2021 and 2020, respectively, are recorded at a point in time instead of over time. Contract balancesThe balances of the Company’s contract liabilities were $31.2 million and $45.6 million as of September 30, 2021 and December 31, 2020, respectively. The 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 main driver of the contract liabilities balance is payments for primary and specialty nutrients received in advance of fulfilling our performance obligations under our customer contracts. Due to seasonality of this business, contract liabilities were built up at year-end in preparation for the spring application season. As expected, the revenue recognized through the first nine months of 2021 satisfied the contract liabilities throughout the application

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration