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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2024
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | STOCKHOLDERS’ EQUITY As a result of the Merger, for the nine months ended September 30, 2024, the company issued approximately 4.7 million shares of common stock and recorded par value $0.001 per share, paid cash consideration of $29.2 million, extinguished the non-controlling interest attributed to the partnership common units held by the public of $133.8 million, and capitalized transaction costs of $7.5 million, within additional paid-in capital. Refer to Note 3 – Merger and Dispositions included herein for more information. Components of stockholders’ equity for the three and nine months ended September 30, 2024 and 2023 are as follows (in thousands):
| Common Stock | Additional Paid-in Capital | Retained Deficit | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Green Plains Stockholders' Equity | Non- Controlling Interests | Total Stockholders' Equity
| Shares | Amount | Shares | Amount
Balance, December 31, 2023 | 62,327 |  | $ | 62 |  | $ | 1,113,806 |  | $ | (235,801) |  | $ | (3,160) |  | 2,805 |  | $ | (31,174) |  | $ | 843,733 |  | $ | 146,323 |  | $ | 990,056 |
Net loss | — |  | — |  | — |  | (51,412) |  | — |  | — |  | — |  | (51,412) |  | 290 |  | (51,122) |
Other comprehensive loss before reclassification | — |  | — |  | — |  | — |  | (6,043) |  | — |  | — |  | (6,043) |  | — |  | (6,043) |
Amounts reclassified from accumulated other comprehensive loss | — |  | — |  | — |  | — |  | 5,305 |  | — |  | — |  | 5,305 |  | — |  | 5,305 |
Other comprehensive loss, net of tax | — |  | — |  | — |  | — |  | (738) |  | — |  | — |  | (738) |  | — |  | (738) |
Investment in subsidiaries | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 166 |  | 166 |
Partnership Merger | 4,746 |  | 5 |  | 97,035 |  | — |  | — |  | — |  | — |  | 97,040 |  | (133,765) |  | (36,725) |
Stock-based compensation | 349 |  | — |  | (1,169) |  | — |  | — |  | — |  | — |  | (1,169) |  | — |  | (1,169) |
Balance, March 31, 2024 | 67,422 |  | 67 |  | 1,209,672 |  | (287,213) |  | (3,898) |  | 2,805 |  | (31,174) |  | 887,454 |  | 13,014 |  | 900,468 |
Net loss | — |  | $ | — |  | $ | — |  | $ | (24,350) |  | $ | — |  | — |  | $ | — |  | $ | (24,350) |  | $ | 312 |  | $ | (24,038) |
Other comprehensive loss before reclassification | — |  | — |  | — |  | — |  | (657) |  | — |  | — |  | (657) |  | — |  | (657) |
Amounts reclassified from accumulated other comprehensive loss | — |  | — |  | — |  | — |  | 1,748 |  | — |  | — |  | 1,748 |  | — |  | 1,748 |
Other comprehensive income, net of tax | — |  | — |  | — |  | — |  | 1,091 |  | — |  | — |  | 1,091 |  | — |  | 1,091 |
Investment in subsidiaries | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 167 |  | 167 |
Stock-based compensation | 39 |  | — |  | 3,173 |  | — |  | — |  | — |  | — |  | 3,173 |  | — |  | 3,173 |
Balance, June 30, 2024 | 67,461 |  | 67 |  | 1,212,845 |  | (311,563) |  | (2,807) |  | 2,805 |  | (31,174) |  | 867,368 |  | 13,493 |  | 880,861 |
Net income | — |  | — |  | — |  | 48,200 |  | — |  | — |  | — |  | 48,200 |  | 437 |  | 48,637 |
Other comprehensive income before reclassification | — |  | — |  | — |  | — |  | 338 |  | — |  | — |  | 338 |  | — |  | 338 |
Amounts reclassified from accumulated other comprehensive loss | — |  | — |  | — |  | — |  | 6,052 |  | — |  | — |  | 6,052 |  | — |  | 6,052 |
Other comprehensive income, net of tax | — |  | — |  | — |  | — |  | 6,390 |  | — |  | — |  | 6,390 |  | — |  | 6,390 |
Investment in subsidiaries | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | (481) |  | (481) |
Stock-based compensation | (4) |  | — |  | 3,554 |  | — |  | — |  | — |  | — |  | 3,554 |  | — |  | 3,554 |
Balance, September 30, 2024 | 67,457 |  | $ | 67 |  | $ | 1,216,399 |  | $ | (263,363) |  | $ | 3,583 |  | 2,805 |  | $ | (31,174) |  | $ | 925,512 |  | $ | 13,449 |  | $ | 938,961 |
| Common Stock | Additional Paid-in Capital | Retained Deficit | Accumulated Other Comprehensive Loss | Treasury Stock | Total Green Plains Stockholders' Equity | Non- Controlling Interests | Total Stockholders' Equity |
| Shares | Amount | Shares | Amount |
Balance, December 31, 2022 | 62,101 |  | $ | 62 |  | $ | 1,110,151 |  | $ | (142,417) |  | $ | (26,591) |  | 2,805 |  | $ | (31,174) |  | $ | 910,031 |  | $ | 151,035 |  | $ | 1,061,066 |  |
Net loss | — |  | — |  | — |  | (70,324) |  | — |  | — |  | — |  | (70,324) |  | 4,075 |  | (66,249) |  |
Cash dividends and distributions declared | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | (5,305) |  | (5,305) |  |
Other comprehensive loss before reclassification | — |  | — |  | — |  | — |  | (12,788) |  | — |  | — |  | (12,788) |  | — |  | (12,788) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  | — |  | — |  | — |  | 1,701 |  | — |  | — |  | 1,701 |  | — |  | 1,701 |  |
Other comprehensive loss, net of tax | — |  | — |  | — |  | — |  | (11,087) |  | — |  | — |  | (11,087) |  | — |  | (11,087) |  |
Investment in subsidiaries | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 185 |  | 185 |  |
Stock-based compensation | 217 |  | — |  | (5,632) |  | — |  | — |  | — |  | — |  | (5,632) |  | 59 |  | (5,573) |  |
Balance, March 31, 2023 | 62,318 |  | 62 |  | 1,104,519 |  | (212,741) |  | (37,678) |  | 2,805 |  | (31,174) |  | 822,988 |  | 150,049 |  | 973,037 |  |
Net loss | — |  | $ | — |  | $ | — |  | $ | (52,604) |  | $ | — |  | — |  | $ | — |  | $ | (52,604) |  | $ | 4,284 |  | $ | (48,320) |  |
Cash dividends and distributions declared | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | (6,497) |  | (6,497) |  |
Other comprehensive income before reclassification | — |  | — |  | — |  | — |  | 710 |  | — |  | — |  | 710 |  | — |  | 710 |  |
Amounts reclassified from accumulated other comprehensive loss | — |  | — |  | — |  | — |  | 3,602 |  | — |  | — |  | 3,602 |  | — |  | 3,602 |  |
Other comprehensive income, net of tax | — |  | — |  | — |  | — |  | 4,312 |  | — |  | — |  | 4,312 |  | — |  | 4,312 |  |
Investment in subsidiaries | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 8 |  | 8 |  |
Stock-based compensation | 15 |  | — |  | 3,252 |  | — |  | — |  | — |  | — |  | 3,252 |  | 60 |  | 3,312 |  |
Balance, June 30, 2023 | 62,333 |  | 62 |  | 1,107,771 |  | (265,345) |  | (33,366) |  | 2,805 |  | (31,174) |  | 777,948 |  | 147,904 |  | 925,852 |  |
Net income | — |  | $ | — |  | $ | — |  | $ | 22,311 |  | $ | — |  | — |  | $ | — |  | $ | 22,311 |  | $ | 3,981 |  | $ | 26,292 |  |
Cash dividends and distributions declared | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | (5,663) |  | (5,663) |  |
Other comprehensive income before reclassification | — |  | — |  | — |  | — |  | 14,469 |  | — |  | — |  | 14,469 |  | — |  | 14,469 |  |
Amounts reclassified from accumulated other comprehensive loss | — |  | — |  | — |  | — |  | 10,767 |  | — |  | — |  | 10,767 |  | — |  | 10,767 |  |
Other comprehensive income, net of tax | — |  | — |  | — |  | — |  | 25,236 |  | — |  | — |  | 25,236 |  | — |  | 25,236 |  |
Investment in subsidiaries | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 65 |  | 65 |  |
Stock-based compensation | (15) |  | — |  | 2,654 |  | — |  | — |  | — |  | — |  | 2,654 |  | 60 |  | 2,714 |  |
Balance, September 30, 2023 | 62,318 |  | 62 |  | 1,110,425 |  | (243,034) |  | (8,130) |  | 2,805 |  | (31,174) |  | 828,149 |  | 146,347 |  | 974,496 |  |
Amounts reclassified from accumulated other comprehensive loss are as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  | Statements of Operations Classification
| 2024 |  | 2023 |  | 2024 |  | 2023 |
Gains (losses) on cash flow hedges |  |  |  |  |  |  |  |  |
Commodity derivatives | $ | 5,146 |  |  | $ | (917) |  |  | $ | 8,882 |  |  | $ | (2,435) |  |  | (1)
Commodity derivatives | (13,088) |  |  | (13,234) |  |  | (26,109) |  |  | (18,688) |  |  | (2)
Total gains (losses) on cash flow hedges | (7,942) |  |  | (14,151) |  |  | (17,227) |  |  | (21,123) |  |  | (3)
Income tax benefit | 1,890 |  |  | 3,384 |  |  | 4,122 |  |  | 5,053 |  |  | (4)
Amounts reclassified from accumulated other comprehensive loss | $ | (6,052) |  |  | $ | (10,767) |  |  | $ | (13,105) |  |  | $ | (16,070) |  |  |
(1)Revenues (2)Costs of goods sold (3)Income (loss) before income taxes and income (loss) from equity method investees (4)Income tax benefit

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