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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Estimated Fair Value of Company's Commodity Derivative Instruments that Require Cash Collateral The net asset or liability positions of these derivatives (net of their cash collateral) are determined on a counterparty-by-counterparty basis and are included within Condensed Consolidated Balance Sheets in Commodity derivative assets (liabilities) - current or if long-term in nature, Other assets, net or Other long-term liabilities:
(in thousands)September 30, 2025December 31, 2024September 30, 2024
Cash collateral paid
$20,457 $39,025 $49,341 
Fair value of derivatives28,848 8,696 (10,199)
Net derivative asset position
$49,305 $47,721 $39,142 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents, on a gross basis, current and non-current commodity derivative assets and liabilities:
September 30, 2025
(in thousands)Commodity Derivative Assets - CurrentCommodity Derivative Assets - NoncurrentCommodity Derivative Liabilities - CurrentCommodity Derivative Liabilities - NoncurrentTotal
Commodity derivative assets$178,243 $2,712 $6,723 $67 $187,745 
Commodity derivative liabilities(44,251)(55)(75,341)(450)(120,097)
Cash collateral paid
20,457 — — — 20,457 
Balance sheet line item totals$154,449 $2,657 $(68,618)$(383)$88,105 

December 31, 2024
(in thousands)Commodity Derivative Assets - CurrentCommodity Derivative Assets - NoncurrentCommodity Derivative Liabilities - CurrentCommodity Derivative Liabilities - NoncurrentTotal
Commodity derivative assets$165,038 $1,441 $10,158 $28 $176,665 
Commodity derivative liabilities(55,262)(28)(69,924)(425)(125,639)
Cash collateral paid
39,025 — — — 39,025 
Balance sheet line item totals$148,801 $1,413 $(59,766)$(397)$90,051 

September 30, 2024
(in thousands)Commodity Derivative Assets - CurrentCommodity Derivative Assets - NoncurrentCommodity Derivative Liabilities - CurrentCommodity Derivative Liabilities - NoncurrentTotal
Commodity derivative assets$154,042 $3,656 $11,207 $219 $169,124 
Commodity derivative liabilities(81,057)(96)(96,847)(1,916)(179,916)
Cash collateral paid
49,341 — — — 49,341 
Balance sheet line item totals$122,326 $3,560 $(85,640)$(1,697)$38,549 
Company's Condensed Consolidated Statement of Income gains and location of line items
The net pretax gains and losses on commodity derivatives not designated as hedging instruments included in the Company’s Condensed Consolidated Statements of Operations and the line items in which they are located are as follows:

 Three months ended September 30,Nine months ended September 30,
(in thousands)2025202420252024
Gains (losses) on commodity derivatives included in Cost of sales and merchandising revenues
$2,123 $(87,774)$16,621 $(74,600)
The recording of gains and losses on the interest rate derivatives and the financial statement line in which they are located are as follows:

Three months ended September 30,Nine months ended September 30,
(in thousands)2025202420252024
Derivatives designated as hedging instruments
Interest rate derivative losses included in Other comprehensive income
$(1,646)$(12,477)$(12,616)$(7,754)
Interest rate derivative gains included in Interest expense, net
2,098 3,194 6,249 9,782 
Interest rate derivative gains included in Other income, net
— — — 568 
Schedule of Outstanding Interest Rate Derivatives
The Company's volumes of commodity derivative contracts outstanding (on a gross basis) are as follows:
September 30, 2025December 31, 2024September 30, 2024
(in thousands)Non-exchange TradedExchange TradedNon-exchange TradedExchange TradedNon-exchange TradedExchange Traded
Metric Tons:
Corn13,259 5,255 15,423 5,456 14,295 4,718 
Soybeans1,043 1,394 886 637 1,544 1,139 
Wheat2,338 3,129 2,409 3,365 2,172 2,640 
Oats428 31 313 5 404 17 
Other2,578 1,142 3,058 402 3,371 1,299 
Total metric tons19,646 10,951 22,089 9,865 21,786 9,813 
Gallons:
Ethanol226,718 148,932 280,999 99,162 305,865 71,736 
Propane— 59,934 — 118,986 — 84,798 
Other84,891 3,315 53,020 1,440 83,847 2,016 
Total gallons311,609 212,181 334,019 219,588 389,712 158,550 
Schedule of Fair Value of Interest Rate Derivative Liabilities
(in thousands)September 30, 2025December 31, 2024September 30, 2024
Derivatives designated as hedging instruments
Interest rate contracts included in Other current assets$5,158 $6,761 $6,000 
Interest rate contracts included in Other assets12,577 22,723 14,281 
Interest rate contracts included in Other long-term liabilities(1,218)(301)— 
Schedule of Derivative Instruments
Outstanding interest rate derivatives, as of September 30, 2025, are as follows:
Interest Rate Hedging InstrumentYear EnteredYear of Maturity Notional Amount
(in millions)		Description


Interest Rate
Swap20192025$41.4 Interest rate component of debt - accounted for as a hedge2.4%
Swap20192025$82.8 Interest rate component of debt - accounted for as a hedge2.3%
Swap20192025$41.4 Interest rate component of debt - accounted for as a hedge2.4%
Swap20202030$50.0 Interest rate component of debt - accounted for as a hedge0.7%
Swap20202030$50.0 Interest rate component of debt - accounted for as a hedge0.8%
Swap20222028$15.0 Interest rate component of debt - accounted for as a hedge3.3%
Swap20222029$100.0 Interest rate component of debt - accounted for as a hedge2.0%
Swap20222029$50.0 Interest rate component of debt - accounted for as a hedge2.4%
Swap20232031$50.0 Interest rate component of debt - accounted for as a hedge2.9%
Swap20242029$35.0 Interest rate component of debt - accounted for as a hedge4.2%
Swap20252026$50.0 Interest rate component of debt - accounted for as a hedge3.5%