v3.25.1
Derivatives (Tables)
3 Months Ended
Mar. 31, 2025
Derivatives  
Schedule of fair value of derivative assets and liabilities

(Thousands)

    

Balance Sheet Location

    

March 31, 2025

    

December 31, 2024

Derivative assets designated as cash flow hedging instruments:

Coffee futures contracts(1)

Derivative assets

$

6,070

$

3,815

Options contracts(2)

Derivative assets

(1,092)

228

Total

$

4,978

$

4,043

Derivative assets not designated as cash flow hedging instruments:

Forward purchase and sales contracts

Derivative assets

$

21,595

$

15,703

Total

21,595

15,703

Total derivative assets

$

26,573

$

19,746

Derivative liabilities not designated as cash flow hedging instruments:

Forward purchase and sales contracts

Derivative liabilities

$

12,395

$

11,966

Total derivative liabilities

$

12,395

$

11,966

1 - The fair value of coffee futures excludes amounts related to margin accounts.

Schedule of pre-tax net gains and losses for derivative instruments

Three Months Ended March 31, 

(Thousands)

    

Statement of Operations Location

    

2025

    

2024

    

Derivative assets designated as cash flow hedging instruments:

Net realized gains (losses) on coffee derivatives

Costs of sales

$

10,162

$

92

Derivative assets and liabilities not designated as cash flow hedging instruments:

Net unrealized gains (losses) on forward sales and purchase contracts

Costs of sales

$

3,593

$

2,340