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Basis Of Presentation And Description Of Business | 12 Months Ended
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Dec. 31, 2014
Basis Of Presentation And Description Of Business [Abstract] |
Basis Of Presentation And Description Of Business | GREEN PLAINS INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. BASIS OF PRESENTATION and DESCRIPTION OF BUSINESS References to the Company References to “Green Plains” or the “Company” in the consolidated financial statements and in these notes to the consolidated financial statements refer to Green Plains Inc., an Iowa corporation, and its subsidiaries. Consolidated Financial Statements The consolidated financial statements include the accounts of the Company and its controlled subsidiaries. All significant intercompany balances and transactions have been eliminated on a consolidated basis for reporting purposes. Unconsolidated entities are included in the financial statements on an equity basis. Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and other assumptions that it believes are proper and reasonable under the circumstances. The Company regularly evaluates the appropriateness of estimates and assumptions used in the preparation of its consolidated financial statements. Actual results could differ from those estimates. Key accounting policies, including but not limited to those relating to revenue recognition, depreciation of property and equipment, impairment of long-lived assets and goodwill, derivative financial instruments, and accounting for income taxes, are impacted significantly by judgments, assumptions and estimates used in the preparation of the consolidated financial statements. Description of Business The Company operates its business within four segments: (1) production of ethanol and distillers grains, collectively referred to as ethanol production, (2) corn oil production, (3) grain handling and storage and cattle feedlot operations, collectively referred to as agribusiness, and (4) marketing, merchant trading and logistics services for Company-produced and third-party ethanol, distillers grains, corn oil and other commodities, and the operation of fuel terminals, collectively referred to as marketing and distribution. The Company also is a partner in a joint venture to commercialize advanced technologies for the growing and harvesting of algal biomass. Ethanol Production Segment Green Plains is North America’s fourth largest ethanol producer. The Company operates twelve ethanol plants, which have the capacity to produce approximately one billion gallons of ethanol per year through separate wholly-owned operating subsidiaries. The Company’s ethanol plants also produce co-products such as wet, modified wet or dried distillers grains, as well as corn oil which is reported in a separate segment. The Company’s plants use a dry mill process to produce ethanol and co-products. At capacity, the Company’s plants consume approximately 360 million bushels of corn and produce approximately 2.9 million tons of distillers grains annually. Corn Oil Production Segment The Company produces corn oil at its ethanol plants within the corn oil production segment, which have the capacity to produce approximately 250 million pounds annually. The corn oil systems are designed to extract non-edible corn oil from the whole stillage immediately prior to production of distillers grains. Agribusiness Segment The Company owns and operates grain handling and storage assets through its agribusiness segment, which has grain storage capacity of approximately 42.2 million bushels, with 29.4 million bu shels of stora ge capacity at the Company’s ethanol plants, 9.0 million bushels of total storage capacity at its four separate grain elevators and 3.8 million bus hels of storage capacity at its cattle-feeding operation. The Company owns a feedlot with the capacity to support 70,000 head of cattle. The Company’s agribusiness operations provide synergies with the ethanol production segment as it supplies a portion of the feedstock and utilizes a portion of the distillers grains output of the Company’s ethanol plants. Marketing and Distribution Segment The Company has an in-house marketing business that is responsible for the sale, marketing and distribution of all ethanol, distillers grains and corn oil produced at its ethanol plants as well as logistical services for ethanol and other commodities for a third-party producer. The Company also purchases and sells ethanol, distillers grains, corn oil, grain, natural gas and other commodities and participates in other merchant trading activities in various markets. The Company operates fuel terminals at eight locations in seven south central U.S. states with approximately 822 million gallons per year, or mmgy, of total throughput capacity.

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- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). + References No definition available. + Details
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