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Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Components of Long-Term Debt

The components of long-term debt are as follows (in thousands):

			September 30, 2024						December 31, 2023
Corporate
2.25% convertible notes due 2027 (1)			$	230,000					$	230,000
Green Plains SPE LLC
$125.0 million junior secured mezzanine notes due 2026 (2)			125,000						125,000
Green Plains Shenandoah
$75.0 million loan agreement (3)			72,000						73,125
Green Plains Partners
$60.0 million term loan (4)			—						55,969
Other			9,647						14,669
Total book value of long-term debt			436,647						498,763
Unamortized debt issuance costs			(3,583)						(5,013)
Less: current maturities of long-term debt			(1,875)						(1,832)
Total long-term debt			$	431,189					$	491,918

(1)The 2.25% notes had $3.0 million and $4.0 million of unamortized debt issuance costs as of September 30, 2024 and December 31, 2023, respectively.

(2)The junior notes had $0.3 million and $0.4 million of unamortized debt issuance costs as of September 30, 2024 and December 31, 2023, respectively.

(3)The loan had $0.3 million of unamortized debt issuance costs as of both September 30, 2024 and December 31, 2023.

(4)Proceeds from the Birmingham Transaction were used to repay the outstanding balance of the term loan on September 30, 2024. The term loan had $0.3 million of unamortized debt issuance costs as of December 31, 2023.

Components of Short-term Notes Payable and Other Borrowings

The components of short-term notes payable and other borrowings are as follows (in thousands):

			September 30, 2024						December 31, 2023
Green Plains Finance Company, Green Plains Grain and Green Plains Trade
$350.0 million revolver			$	109,000					$	99,000
Green Plains Commodity Management
$40.0 million hedge line			14,116						6,973
			$	123,116					$	105,973

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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