XML 22 R10.htm IDEA: XBRL DOCUMENT v3.25.1
Inventories
 3 Months Ended
Mar. 31, 2025
Inventory, Net [Abstract]  
Inventories Inventories
Major classes of inventories are presented below. Readily Marketable Inventories ("RMI") 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 market information, 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.
(in thousands)March 31,
2025		December 31,
2024		March 31,
2024
Grain and other agricultural products (a)$833,477 $951,283 $669,373 
Energy inventories (a)12,680 17,381 14,454 
Ethanol and co-products (a)133,352 109,528 104,878 
Nutrients and cob products269,538 208,619 205,838 
Total inventories$1,249,047 $1,286,811 $994,543 
(a) Includes RMI of $828.4 million, $944.5 million, and $635.5 million at March 31, 2025, December 31, 2024, and March 31, 2024, respectively.