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Inventories

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories are carried at the lower of cost or net realizable value, except fair-value hedged inventories. Raw materials and finished goods inventories are valued under the first in, first out (FIFO) or weighted average cost method at the lower of average cost or net realizable value. The company recorded a $10.1 million and $2.6 million lower of cost or net

realizable value inventory adjustment associated with finished goods in cost of goods sold within the ethanol production segment as of September 30, 2024 and December 31, 2023, respectively.

The components of inventories are as follows (in thousands):

			September 30, 2024						December 31, 2023
Finished goods			$	63,327					$	73,975
Commodities held for sale			32,336						45,898
Raw materials			29,430						32,820
Work-in-process			12,677						14,454
Supplies and parts			55,826						48,663
			$	193,596					$	215,810

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- References

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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