v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Reportable segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker ("CODM"), who is the Company’s Chief Executive Officer, in deciding how to allocate resources and in assessing performance. The CODM allocates resources to and evaluates the financial performance of each operating segment primarily based on Income before income taxes. The operating and reportable segment structure provides alignment between business strategies and operating results. The Company’s operations include two reportable business segments that are distinguished primarily on the basis of products and services offered as well as the management structure.

The Agribusiness segment includes commodity merchandising, the operation of terminal grain elevator facilities, and the manufacturing and distribution of plant nutrient products. The Renewables segment produces and sells ethanol and co-products, while also managing a merchandising portfolio that includes ethanol, feed products, and renewable feedstocks. Other includes corporate income and expenses, costs for shared support functions that support the operating segments, and various elimination and consolidation adjustments.

The segment information below includes the allocation of expenses shared by one or more operating segments. Although management believes such allocations are reasonable, the operating information does not necessarily reflect how such data might appear if the segments were operated as separate businesses. The Company does not have any customers who represent 10 percent, or more, of total revenues.
 Three months ended March 31, 2026Three months ended March 31, 2025
(in thousands)AgribusinessRenewablesTotalAgribusinessRenewablesTotal
Sales and merchandising revenues$1,919,967 $707,299 $2,627,266 $1,993,287 $665,811 $2,659,098 
Cost of sales and merchandising revenues1,786,061 680,621 2,466,682 1,874,689 631,537 2,506,226 
Operating, administrative and general expenses121,420 10,300 131,720 124,489 9,783 134,272 
Interest expense13,688 3,059 16,747 12,826 698 13,524 
Other income, net (a)
8,607 26,272 34,879 9,041 1,088 10,129 
Segment income (loss)$7,405 $39,591 $46,996 $(9,676)$24,881 $15,205 
less: Corporate expenses13,104 11,992 
Income before income taxes$33,892 $3,213 
(a) Other income, net for each reportable segment includes:
Agribusiness - patronage income, property insurance recoveries, interest income, amongst other items.
Renewables - clean fuel production credits, interest income, patronage income, amongst other items
Three months ended March 31, 2026Three months ended March 31, 2025
(in thousands)AgribusinessRenewablesOtherTotalAgribusinessRenewablesOtherTotal
Depreciation and amortization (a)
$21,490 $11,767 $855 $34,112 $21,685 $11,891 $764 $34,340 
Purchases of property, plant and equipment and capitalized software27,638 20,080 3,994 51,712 35,267 10,796 485 46,548 
Interest income (b)
784 32 39 855 1,900 603 9 2,512 
(a) Depreciation and amortization disclosed by reportable segment is included within both Cost of sales and merchandising revenues and Operating, administrative and general expenses within the Consolidated Statement of Operations.
(b) Interest income is recorded in Other income, net within the Consolidated Statement of Operations.

(in thousands)March 31,
2026		December 31,
2025		March 31,
2025
Identifiable assets
Agribusiness$2,976,519 $2,847,954 $2,825,321 
Renewables718,893 617,253 712,000 
Other224,764 247,625 260,361 
Total assets$3,920,176 $3,712,832 $3,797,682 

Three months ended March 31,
(in thousands)20262025
Revenues from external customers by geographic region
United States$1,969,124 $2,132,288 
Canada138,437 136,225 
Mexico76,169 69,020 
Other443,536 321,565 
   Total$2,627,266 $2,659,098 

Substantially all of the Company's long-lived assets are located within the United States. The Company had approximately $47.3 million, $47.8 million, and $45.8 million of long-lived assets in other countries at March 31, 2026, December 31, 2025, and March 31, 2025, respectively, with substantially all of the foreign long-lived assets located within Canada for all periods presented.