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Segment Information | 12 Months Ended
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Dec. 31, 2014
Segment Information [Abstract] |
Segment Information | 5. SEGMENT INFORMATION Company management reviews financial and operating performance in the following four separate operating 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. Selling, general and administrative expenses, primarily consisting of compensation of corporate employees, professional fees and overhead costs not directly related to a specific operating segment, are reflected in the table below as corporate activities. During the normal course of business, the Company enters into transactions between segments. Examples of these intersegment transactions include, but are not limited to, the ethanol production segment selling ethanol to the marketing and distribution segment and the agribusiness segment selling grain to the ethanol production segment. These intersegment activities are recorded by each segment at prices approximating market and treated as if they are third-party transactions. Consequently, these transactions impact segment performance. However, revenues and corresponding costs are eliminated in consolidation and do not impact the Company’s consolidated results. The following tables set forth certain financial data for the Company’s operating segments (in thousands):
|  | Year Ended December 31,
|  | 2014 |  | 2013 |  | 2012
Revenues: |  |  |  |  |  |  |  |  |
Ethanol production: |  |  |  |  |  |  |  |  |
Revenues from external customers (1) |  | $ | (51,424) |  | $ | 116,272 |  | $ | 200,443
Intersegment revenues |  |  | 2,222,446 |  |  | 1,934,770 |  |  | 1,708,800
Total segment revenues |  |  | 2,171,022 |  |  | 2,051,042 |  |  | 1,909,243
Corn oil production: |  |  |  |  |  |  |  |  |
Revenues from external customers (1) |  |  | - |  |  | - |  |  | 529
Intersegment revenues |  |  | 79,750 |  |  | 69,163 |  |  | 57,315
Total segment revenues |  |  | 79,750 |  |  | 69,163 |  |  | 57,844
Agribusiness: |  |  |  |  |  |  |  |  |
Revenues from external customers (1) |  |  | 100,436 |  |  | 51,883 |  |  | 408,622
Intersegment revenues |  |  | 1,208,120 |  |  | 761,835 |  |  | 176,062
Total segment revenues |  |  | 1,308,556 |  |  | 813,718 |  |  | 584,684
Marketing and distribution: |  |  |  |  |  |  |  |  |
Revenues from external customers (1) |  |  | 3,186,599 |  |  | 2,872,856 |  |  | 2,867,276
Intersegment revenues |  |  | 171,201 |  |  | 21,790 |  |  | 355
Total segment revenues |  |  | 3,357,800 |  |  | 2,894,646 |  |  | 2,867,631
Revenues including intersegment activity |  |  | 6,917,128 |  |  | 5,828,569 |  |  | 5,419,402
Intersegment eliminations |  |  | (3,681,517) |  |  | (2,787,558) |  |  | (1,942,532)
Revenues as reported |  | $ | 3,235,611 |  | $ | 3,041,011 |  | $ | 3,476,870
(1) Revenues from external customers include realized gains and losses from derivative financial instruments.
Gross profit (loss): |  |  |  |  |  |  |  |  |
Ethanol production |  | $ | 236,096 |  | $ | 79,109 |  | $ | (4,895)
Corn oil production |  |  | 42,937 |  |  | 36,615 |  |  | 32,388
Agribusiness |  |  | 14,833 |  |  | 6,258 |  |  | 35,973
Marketing and distribution |  |  | 80,326 |  |  | 57,671 |  |  | 32,362
Intersegment eliminations |  |  | 606 |  |  | (6,633) |  |  | 943
|  | $ | 374,798 |  | $ | 173,020 |  | $ | 96,771
Operating income (loss): |  |  |  |  |  |  |  |  |
Ethanol production |  | $ | 214,497 |  | $ | 63,012 |  | $ | (20,393)
Corn oil production |  |  | 42,651 |  |  | 36,569 |  |  | 32,140
Agribusiness |  |  | 8,497 |  |  | 3,324 |  |  | 60,030
Marketing and distribution |  |  | 52,669 |  |  | 40,971 |  |  | 17,290
Intersegment eliminations |  |  | 666 |  |  | (6,588) |  |  | 977
Corporate activities |  |  | (32,706) |  |  | (29,437) |  |  | (25,159)
|  | $ | 286,274 |  | $ | 107,851 |  | $ | 64,885
Income (loss) before income taxes: |  |  |  |  |  |  |  |  |
Ethanol production |  | $ | 198,598 |  | $ | 44,061 |  | $ | (42,430)
Corn oil production |  |  | 42,655 |  |  | 36,570 |  |  | 32,142
Agribusiness |  |  | 5,996 |  |  | 793 |  |  | 54,172
Marketing and distribution |  |  | 47,921 |  |  | 37,098 |  |  | 13,768
Intersegment eliminations |  |  | 666 |  |  | (6,588) |  |  | 977
Corporate activities |  |  | (45,406) |  |  | (39,653) |  |  | (33,473)
|  | $ | 250,430 |  | $ | 72,281 |  | $ | 25,156
|  | Year Ended December 31,
|  | 2014 |  | 2013 |  | 2012
Depreciation and amortization: |  |  |  |  |  |  |  |  |
Ethanol production |  | $ | 52,393 |  | $ | 45,312 |  | $ | 44,239
Corn oil production |  |  | 1,756 |  |  | 1,175 |  |  | 1,156
Agribusiness |  |  | 1,441 |  |  | 362 |  |  | 4,209
Marketing and distribution |  |  | 3,096 |  |  | 2,836 |  |  | 1,942
Corporate activities |  |  | 1,676 |  |  | 1,317 |  |  | 1,282
|  | $ | 60,362 |  | $ | 51,002 |  | $ | 52,828
Interest expense: |  |  |  |  |  |  |  |  |
Ethanol production |  | $ | 22,749 |  | $ | 18,988 |  | $ | 22,081
Corn oil production |  |  | - |  |  | - |  |  | -
Agribusiness |  |  | 2,591 |  |  | 2,531 |  |  | 5,881
Marketing and distribution |  |  | 5,267 |  |  | 4,079 |  |  | 3,532
Intersegment eliminations |  |  | (238) |  |  | (982) |  |  | (1,137)
Corporate activities |  |  | 9,539 |  |  | 8,741 |  |  | 7,164
|  | $ | 39,908 |  | $ | 33,357 |  | $ | 37,521
Capital expenditures: |  |  |  |  |  |  |  |  |
Ethanol production |  | $ | 32,050 |  | $ | 8,469 |  | $ | 7,637
Corn oil production |  |  | 8,154 |  |  | 1,782 |  |  | 725
Agribusiness |  |  | 17,166 |  |  | 6,514 |  |  | 2,006
Marketing and distribution |  |  | 1,334 |  |  | 2,347 |  |  | 15,791
Corporate activities |  |  | 2,829 |  |  | 652 |  |  | 617
|  | $ | 61,533 |  | $ | 19,764 |  | $ | 26,776
The following table sets forth total assets by operating segment (in thousands):
|  | Year Ended December 31,
|  | 2014 |  | 2013
Total assets: |  |  |  |  |  |
Ethanol production |  | $ | 983,289 |  | $ | 911,315
Corn oil production |  |  | 31,405 |  |  | 28,569
Agribusiness |  |  | 234,626 |  |  | 165,570
Marketing and distribution |  |  | 305,675 |  |  | 258,361
Corporate assets |  |  | 290,123 |  |  | 175,210
Intersegment eliminations |  |  | (16,561) |  |  | (6,980)
|  | $ | 1,828,557 |  | $ | 1,532,045
The following table sets forth revenues by product line (in thousands):
|  | Year Ended December 31,
|  | 2014 |  | 2013 |  | 2012
Revenues: |  |  |  |  |  |  |  |  |
Ethanol |  | $ | 2,362,812 |  | $ | 2,339,470 |  | $ | 2,507,119
Distillers grains |  |  | 531,696 |  |  | 488,396 |  |  | 433,088
Corn oil |  |  | 99,167 |  |  | 74,251 |  |  | 58,640
Grain |  |  | 174,997 |  |  | 92,487 |  |  | 348,413
Other |  |  | 66,939 |  |  | 46,407 |  |  | 129,610
|  | $ | 3,235,611 |  | $ | 3,041,011 |  | $ | 3,476,870
Revenues from two customers, controlled by the same entity, of the Company’s marketing and distribution segment totaled approximately $325.0 million, or 10.0%, of the Company’s consolidated revenues.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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