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Other Income
 9 Months Ended
Sep. 30, 2023
Other Income and Expenses [Abstract]  
Other Income Other Income
The following table sets forth the items in Other income, net within the Condensed Consolidated Statements of Operations:
Three months ended September 30,Nine months ended September 30,
(in thousands)2023202220232022
Gain on deconsolidation of joint venture$— $— $6,544 $— 
Property insurance recoveries— — 3,183 3,106 
Interest income3,296 544 6,471 1,837 
Patronage income951 29 3,046 2,428 
Gain on sale of assets and businesses6,515 — 5,836 3,979 
Biofuel Producer Program funds2,190 — 2,190 17,643 
Equity earnings (losses) in affiliates(1,375)681 (1,606)(5,597)
Gain on investments4,798 91 5,144 91 
Other(1,197)130 4,815 (1,302)
Total$15,178 $1,475 $35,623 $22,185 

Individually significant items included in the table above are:

Gain on deconsolidation of joint venture - On April 18, 2023, ELEMENT was placed into receivership. As the receiver took control of ELEMENT, under the VIE consolidation model, the Company was deemed to have lost control of the entity and therefore deconsolidated ELEMENT from its Condensed Consolidated Financial Statements. As a result of these activities, the Company recognized a gain on deconsolidation. See footnote 15 for additional information.

Property insurance recoveries - In 2023, property insurance recoveries consisted of proceeds of $1.5 million relating to a conveyor collapse at a Louisiana grain asset in the prior year and proceeds of $1.0 million relating to a fire at a Michigan grain asset in the prior year, the remaining proceeds consists of several individually insignificant amounts in the ordinary course of business. In 2022, property insurance recoveries consisted of approximately $3.0 million relating to a prior period incident at the Company’s port facility in Texas. The remaining proceeds consists of individually insignificant amounts in the ordinary course of business.
Interest income - In 2023, the Company earned $5.0 million in interest income on cash and cash equivalents with an additional $1.5 million earned from an inventory financing program, the remaining interest income consists of several individually insignificant amounts in the ordinary course of business. In 2022, an inventory financing program earned $1.1 million, the remaining interest income consisted of individually insignificant amounts in the ordinary course of business.

Patronage income - As a part of the Company’s normal operations it relies heavily on short-term lines of credit in order to support working capital needs in addition to long-term debt presented on the balance sheet. As part of these programs the Company receives patronage income from its lenders.

Gain on sale of assets and businesses - In 2023, the vast majority of the gain was from the sale of a Nebraska grain facility of $5.6 million, with the remaining amounts consisting of several individually insignificant amounts in the ordinary course of business. In 2022, the gain on the sale of assets and businesses consisted of the Company’s remaining frac sand facilities in Oklahoma and Minnesota, of $4.0 million.

Biofuel Producer Program funds - The USDA as a part of the Biofuel Producer Program, created under the CARES Act, provided funding to support biofuel producers who faced unexpected market losses due to the COVID-19 pandemic. In 2023, the Company received proceeds of $2.2 million under this program, of which, $1.7 million was attributable to TAMH. In 2022, TAMH and ELEMENT received proceeds of $13.3 million and $4.3 million, respectively. Of these proceeds $8.7 million was attributable to the noncontrolling interest.

Equity earnings (losses) in affiliates - In 2023 and 2022, the Company recorded an impairment charge on equity method investments for $1.0 million and $4.5 million, respectively. The remaining activity consists of routine earnings and losses in equity method investments through the ordinary course of business.
Gain on investments - In 2023, the gain on investments consisted of a $4.8 million revaluation gain of an investment within the Company's corporate venture fund. The remaining gains consists of individually insignificant activity in the ordinary course of business.