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Segment Information
 9 Months Ended
Sep. 30, 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, as well as gain on sale of assets.
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
September 30,		Nine Months Ended
September 30,
2024202320242023
Revenues
Ethanol production
Revenues from external customers$563,564 $774,321 $1,592,274 $2,198,736 
Intersegment revenues1,075 1,208 3,467 3,446 
Total segment revenues564,639 775,529 1,595,741 2,202,182 
Agribusiness and energy services
Revenues from external customers95,171 118,449 282,500 384,615 
Intersegment revenues6,689 6,632 19,305 18,675 
Total segment revenues101,860 125,081 301,805 403,290 
Revenues including intersegment activity666,499 900,610 1,897,546 2,605,472 
Intersegment eliminations(7,764)(7,840)(22,772)(22,121)
 $658,735 $892,770 $1,874,774 $2,583,351 
Refer to Note 2 – Revenue, for further disaggregation of revenue by operating segment.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Cost of goods sold
Ethanol production (1)
$498,326 $716,556 $1,501,681 $2,142,567 
Agribusiness and energy services90,064 109,292 271,566 371,981 
Intersegment eliminations(7,764)(7,840)(22,772)(22,121)
$580,626 $818,008 $1,750,475 $2,492,427 
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Gross margin
Ethanol production (1) (3)
$66,313 $58,973 $94,060 $59,615 
Agribusiness and energy services11,796 15,789 30,239 31,309 
$78,109 $74,762 $124,299 $90,924 
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Depreciation and amortization
Ethanol production$21,444 $22,596 $62,522 $69,603 
Agribusiness and energy services505 534 1,507 1,883 
Corporate activities (2)
4,121 769 5,112 2,425 
$26,070 $23,899 $69,141 $73,911 
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Operating income (loss)
Ethanol production (3)
$35,240 $23,931 $(626)$(43,158)
Agribusiness and energy services7,830 11,313 16,000 17,612 
Corporate activities (4)
12,982 (14,070)(21,922)(52,300)
$56,052 $21,174 $(6,548)$(77,846)

(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)Depreciation and amortization for corporate activities includes impairment of a research and development technology intangible asset of $3.5 million for the three and nine months ended September 30, 2024.
(3)Ethanol production includes an inventory lower of average cost or net realizable value adjustment of $10.1 million for the three and nine months ended September 30, 2024 and of $1.7 million for the three and nine months ended September 30, 2023.
(4)Corporate activities include a pretax gain on sale of assets of $30.7 million for the three and nine months ended September 30, 2024 and of $5.7 million for the three and nine months ended September 30, 2023.
The following table sets forth total assets by operating segment (in thousands):
September 30,
2024		December 31,
2023
Total assets (1)
Ethanol production$1,300,845 $1,275,562 
Agribusiness and energy services301,409 413,937 
Corporate assets159,870 254,300 
Intersegment eliminations(2,170)(4,477)
$1,759,954 $1,939,322 
(1)Asset balances by segment exclude intercompany balances.