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Segment Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The company reports the financial and operating performance for the following two operating segments: (1) ethanol production, which includes the production, storage and transportation of ethanol, distillers grains, Ultra-High Protein and renewable corn oil and (2) agribusiness and energy services, which includes grain handling and storage, commodity marketing and merchant trading for company-produced and third-party ethanol, distillers grains, Ultra-High Protein, renewable corn oil, natural gas and other commodities.
As a result of the Merger, the partnership's operations are included in the ethanol production operating segment. The following changes were made to the company's operating segments:
•The revenue and operating results from fuel storage and transportation services previously disclosed within the partnership segment are now included within the ethanol production segment.
•Intersegment activities between the partnership and Green Plains Trade associated with ethanol storage and transportation services previously treated like third-party transactions and eliminated on a consolidated level are now eliminated within the ethanol production segment.
Intersegment activities between the partnership and Green Plains Trade associated with terminal services transacted with the agribusiness and energy services segment will continue to be eliminated on a consolidated level.
Corporate activities include selling, general and administrative expenses, consisting primarily of compensation, professional fees and overhead costs not directly related to a specific operating segment.
During the normal course of business, the operating segments conduct business with each other. For example, the agribusiness and energy services segment procures grain and natural gas and sells products, including ethanol, distillers grains, Ultra-High Protein and renewable corn oil for the ethanol production segment. These intersegment activities are treated like third-party transactions with origination, marketing and storage fees charged at estimated market values. Consequently, these transactions affect segment performance; however, they do not impact the company’s consolidated results since the revenues and corresponding costs are eliminated.
The following tables set forth certain financial data for the company’s operating segments (in thousands):
Three Months Ended
March 31,
20242023
Revenues
Ethanol production
Revenues from external customers$504,446 $696,613 
Intersegment revenues1,213 1,105 
Total segment revenues505,659 697,718 
Agribusiness and energy services
Revenues from external customers92,768 136,336 
Intersegment revenues6,228 6,050 
Total segment revenues98,996 142,386 
Revenues including intersegment activity604,655 840,104 
Intersegment eliminations(7,441)(7,155)
 $597,214 $832,949 
Refer to Note 2 - Revenue, for further disaggregation of revenue by operating segment.
Three Months Ended
March 31,
20242023
Cost of goods sold
Ethanol production (1)
$508,302 $706,133 
Agribusiness and energy services87,986 133,280 
Intersegment eliminations(7,441)(7,155)
$588,847 $832,258 
Three Months Ended
March 31,
20242023
Gross margin
Ethanol production (1)
$(2,643)$(8,415)
Agribusiness and energy services11,010 9,106 
$8,367 $691 
Three Months Ended
March 31,
20242023
Depreciation and amortization
Ethanol production$20,534 $23,754 
Agribusiness and energy services505 813 
Corporate activities448 819 
$21,487 $25,386 
Three Months Ended
March 31,
20242023
Operating income (loss)
Ethanol production (2)
$(33,653)$(41,950)
Agribusiness and energy services6,004 4,126 
Corporate activities(17,240)(18,716)
$(44,889)$(56,540)

(1)Costs historically reported as operations and maintenance expenses in the consolidated statements of operations are now being reported within cost of goods sold, resulting in increased cost of goods sold and decreased gross margin within the ethanol production segment.
(2)Operating loss for ethanol production includes an inventory lower of average cost or net realizable value adjustment of $4.2 million for the three months ended March 31, 2024.
The following table sets forth total assets by operating segment (in thousands):
March 31,
2024		December 31,
2023
Total assets (1)
Ethanol production$1,290,485 $1,275,562 
Agribusiness and energy services400,584 413,937 
Corporate assets112,473 254,300 
Intersegment eliminations(4,107)(4,477)
$1,799,435 $1,939,322 
(1)Asset balances by segment exclude intercompany balances.