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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Measurements  
Summary of the fair value of financial instruments

June 30, 2024

(Thousands)

Level 1

Level 2

Level 3

Total

Assets:

Green coffee associated with forward contracts

$

$

34,818

$

$

34,818

Coffee futures contracts

3,924

3,924

Options contracts

712

712

Forward purchase and sales contracts

13,115

13,115

Total

$

4,636

$

47,933

$

$

52,569

Liabilities:

Forward purchase and sales contracts

5,044

5,044

Westrock Public Warrants

38,002

38,002

Westrock Private Warrants

5,146

5,146

Total

$

38,002

$

5,044

$

5,146

$

48,192

December 31, 2023

(Thousands)

Level 1

Level 2

Level 3

Total

Assets:

Green coffee associated with forward contracts

$

$

33,447

$

$

33,447

Coffee futures contracts

3,355

3,355

Forward purchase and sales contracts

10,303

10,303

Total

$

3,355

$

43,750

$

$

47,105

Liabilities:

Forward purchase and sales contracts

3,731

3,731

Westrock Public Warrants

39,371

39,371

Westrock Private Warrants

5,430

5,430

Total

$

39,371

$

3,731

$

5,430

$

48,532

Schedule of change in fair value

Westrock

(Thousands)

    

Private Warrants

Fair value as of December 31, 2023

$

5,430

Change in fair value

(284)

Fair value as of June 30, 2024

$

5,146

Schedule of unobservable inputs

    

June 30, 2024

    

December 31, 2023

Stock price

$

10.23

$

10.21

Exercise price

11.50

11.50

Expected term (years)

5.00

5.00

Expected volatility

34.20%

33.80%

Risk-free rate of return

4.45%

3.91%

Dividend yield

0.00%

0.00%