XML 29 R14.htm IDEA: XBRL DOCUMENT
v3.20.4

Revenue | 12 Months Ended
--- | ---
Dec. 31, 2020
Revenue [Abstract] |
Revenue | 4. REVENUE Revenue Recognition Revenue is recognized when obligations under the terms of a contract with a customer are satisfied. Generally this occurs with the transfer of control of products or services. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods or providing services. Sales, value add, and other taxes the company collects concurrent with revenue-producing activities are excluded from revenue. ‎ Revenue by Source The following tables disaggregate revenue by major source (in thousands):
| Twelve Months Ended December 31, 2020
| Ethanol Production |  | Agribusiness & Energy Services |  | Food & Ingredients |  | Partnership |  | Eliminations |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from contracts with customers under ASC 606: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ethanol | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | -
Distillers grains |  | 32,032 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 32,032
Corn oil |  | - |  |  | 2,938 |  |  | - |  |  | - |  |  | - |  |  | 2,938
Service revenues |  | - |  |  | - |  |  | - |  |  | 4,434 |  |  | - |  |  | 4,434
Other |  | 4,306 |  |  | 6,423 |  |  | - |  |  | - |  |  | - |  |  | 10,729
Intersegment revenues |  | 100 |  |  | 4,463 |  |  | - |  |  | 8,411 |  |  | (12,974) |  |  | -
Total revenues from contracts with customers |  | 36,438 |  |  | 13,824 |  |  | - |  |  | 12,845 |  |  | (12,974) |  |  | 50,133
Revenues from contracts accounted for as derivatives under ASC 815 (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ethanol |  | 1,150,018 |  |  | 287,261 |  |  | - |  |  | - |  |  | - |  |  | 1,437,279
Distillers grains |  | 261,554 |  |  | 41,184 |  |  | - |  |  | - |  |  | - |  |  | 302,738
Corn oil |  | 49,666 |  |  | 33,563 |  |  | - |  |  | - |  |  | - |  |  | 83,229
Grain |  | 42 |  |  | 32,833 |  |  | - |  |  | - |  |  | - |  |  | 32,875
Other |  | 4,863 |  |  | 12,201 |  |  | - |  |  | - |  |  | - |  |  | 17,064
Intersegment revenues |  | - |  |  | 23,005 |  |  | - |  |  | - |  |  | (23,005) |  |  | -
Total revenues from contracts accounted for as derivatives |  | 1,466,143 |  |  | 430,047 |  |  | - |  |  | - |  |  | (23,005) |  |  | 1,873,185
Leasing revenues under ASC 842 (2) |  | - |  |  | - |  |  | - |  |  | 70,500 |  |  | (70,099) |  |  | 401
Total Revenues | $ | 1,502,581 |  | $ | 443,871 |  | $ | - |  | $ | 83,345 |  | $ | (106,078) |  | $ | 1,923,719
| Twelve Months Ended December 31, 2019
| Ethanol Production |  | Agribusiness & Energy Services |  | Food & Ingredients |  | Partnership |  | Eliminations |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from contracts with customers under ASC 606: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ethanol | $ | 620 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 620
Distillers grains |  | 70,729 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 70,729
Service revenues |  | - |  |  | - |  |  | - |  |  | 6,422 |  |  | - |  |  | 6,422
Other |  | 2,589 |  |  | 3,684 |  |  | - |  |  | - |  |  | - |  |  | 6,273
Intersegment revenues |  | 100 |  |  | - |  |  | - |  |  | 7,126 |  |  | (7,226) |  |  | -
Total revenues from contracts with customers |  | 74,038 |  |  | 3,684 |  |  | - |  |  | 13,548 |  |  | (7,226) |  |  | 84,044
Revenues from contracts accounted for as derivatives under ASC 815 (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ethanol |  | 1,338,093 |  |  | 522,572 |  |  | - |  |  | - |  |  | - |  |  | 1,860,665
Distillers grains |  | 228,849 |  |  | 42,445 |  |  | - |  |  | - |  |  | - |  |  | 271,294
Corn oil |  | 50,290 |  |  | 28,034 |  |  | 1,451 |  |  | - |  |  | - |  |  | 79,775
Grain |  | 175 |  |  | 63,233 |  |  | - |  |  | - |  |  | - |  |  | 63,408
Other |  | 9,270 |  |  | 48,348 |  |  | - |  |  | - |  |  | - |  |  | 57,618
Intersegment revenues |  | - |  |  | 27,184 |  |  | - |  |  | - |  |  | (27,184) |  |  | -
Total revenues from contracts accounted for as derivatives |  | 1,626,677 |  |  | 731,816 |  |  | 1,451 |  |  | - |  |  | (27,184) |  |  | 2,332,760
Leasing revenues under ASC 842 (2) |  | - |  |  | - |  |  | - |  |  | 68,839 |  |  | (68,405) |  |  | 434
Total Revenues | $ | 1,700,715 |  | $ | 735,500 |  | $ | 1,451 |  | $ | 82,387 |  | $ | (102,815) |  | $ | 2,417,238
‎
| Twelve Months Ended December 31, 2018
| Ethanol Production |  | Agribusiness & Energy Services |  | Food & Ingredients |  | Partnership |  | Eliminations |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from contracts with customers under ASC 606: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ethanol | $ | 3,803 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 3,803
Distillers grains |  | 206,905 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 206,905
Vinegar |  | - |  |  | - |  |  | 108,011 |  |  | - |  |  | - |  |  | 108,011
Service revenues |  | - |  |  | - |  |  | - |  |  | 5,180 |  |  | - |  |  | 5,180
Other |  | 5,369 |  |  | 3,014 |  |  | - |  |  | - |  |  | - |  |  | 8,383
Intersegment revenues |  | 186 |  |  | 24 |  |  | - |  |  | 9,030 |  |  | (9,240) |  |  | -
Total revenues from contracts with customers |  | 216,263 |  |  | 3,038 |  |  | 108,011 |  |  | 14,210 |  |  | (9,240) |  |  | 332,282
Revenues from contracts accounted for as derivatives under ASC 815 (1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ethanol |  | 1,618,319 |  |  | 418,956 |  |  | - |  |  | - |  |  | - |  |  | 2,037,275
Distillers grains |  | 198,738 |  |  | 141,140 |  |  | - |  |  | - |  |  | - |  |  | 339,878
Corn oil |  | 66,567 |  |  | 22,623 |  |  | 13,110 |  |  | - |  |  | - |  |  | 102,300
Grain |  | 520 |  |  | 81,742 |  |  | - |  |  | - |  |  | - |  |  | 82,262
Other |  | 20,254 |  |  | 68,380 |  |  | - |  |  | - |  |  | - |  |  | 88,634
Intersegment revenues |  | - |  |  | 33,077 |  |  | - |  |  | - |  |  | (33,077) |  |  | -
Total revenues from contracts accounted for as derivatives |  | 1,904,398 |  |  | 765,918 |  |  | 13,110 |  |  | - |  |  | (33,077) |  |  | 2,650,349
Leasing revenues under ASC 840 (2) |  | - |  |  | - |  |  | - |  |  | 86,538 |  |  | (85,237) |  |  | 1,301
Total Revenues | $ | 2,120,661 |  | $ | 768,956 |  | $ | 121,121 |  | $ | 100,748 |  | $ | (127,554) |  | $ | 2,983,932
(1)Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC 606, where the company recognizes revenue when control of the inventory is transferred within the meaning of ASC 606 as required by ASC 610-20, Gains and Losses from Derecognition of Nonfinancial Assets. (2)Leasing revenues do not represent revenues recognized from contracts with customers under ASC 606, and are accounted for under ASC 842, Leases for 2020 and 2019 and ASC 840, Leases for 2018. Major Customer Revenues from Customer A represented 16% and 11% of total revenues for the year ended December 31, 20 20 and 2019, respectively and are reported in the ethanol production segment. There were no third party customers that accounted for more than 10% of total revenues for the year ended December 31, 2018. Payment Terms The company has standard payment terms, which vary depending upon the nature of the services provided, with the majority falling within 10 to 30 days after transfer of control or completion of services. In instances where the timing of revenue recognition differs from the timing of invoicing, the company has determined that contracts generally do not include a significant financing component. Contract Liabilities The company records unearned revenue when consideration is received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of service and lease agreements. Unearned revenue from service agreements, which represents a contract liability, is recorded for fees that have been charged to the customer prior to the completion of performance obligations. Unearned revenue is generally recognized in the subsequent quarter and is not material to the company. The company expects to recognize all of the unearned revenue associated with service agreements as of December 31, 2020, in the subsequent quarter when the inventory is withdrawn from the partnership’s tank storage.

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

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration