XML 26 R11.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Inventories | 12 Months Ended
--- | ---
Dec. 31, 2023
Inventory, Net [Abstract] |
Inventories | Inventories Major classes of inventories are presented below. Readily Marketable Inventories are agricultural commodity inventories such as corn, soybeans, wheat, and ethanol co-products, among others, carried at net realizable value which approximates fair value based on their commodity characteristics, widely available markets, and pricing mechanisms. The net realizable value of RMI is calculated as the fair value (spot price of the commodity in an exchange), less cost of disposal and transportation based on the local market. All other inventories are held at lower of cost or net realizable value. The components of inventories are as follows:
| December 31,
(in thousands) | 2023 |  | 2022
Grain and other agricultural products (a) | $ | 886,725 |  |  | $ | 1,326,531 |
Energy inventories (a) | 21,705 |  |  | 21,084 |
Ethanol and co-products (a) | 104,349 |  |  | 156,341 |
Plant nutrients and cob products | 153,921 |  |  | 227,769 |
Total | $ | 1,166,700 |  |  | $ | 1,731,725 |
(a) Includes RMI of $862.5 million and $1,308.8 million at December 31, 2023, and December 31, 2022, respectively. The Company incurred inventory damage charges of $17.3 million in the year ended December 31, 2022. In December 2022, approximately $16.2 million of that charge was related to a fire at a Michigan grain asset where substantially all of the insured inventory held at that location was severely damaged or destroyed.

X
- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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