| Revenue |
REVENUE Revenue by Source The following tables disaggregate revenue by major source (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | Ethanol Production | | Agribusiness & Energy
Services | | Eliminations | | Total | | Revenues | | | | | | | | | Revenues from contracts with customers under ASC 606 | | | | | | | | | Ethanol | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Distillers grains | 18,052 | | | — | | | — | | | 18,052 | | | | | | | | | | | Other | 24,240 | | | 406 | | | — | | | 24,646 | | | Intersegment revenues | — | | | 71 | | | (71) | | | — | | | Total revenues from contracts with customers | 42,292 | | | 477 | | | (71) | | | 42,698 | | Revenues from contracts accounted for as derivatives under ASC 815 (1) | | | | | | | | | Ethanol | 268,145 | | | 18,141 | | | — | | | 286,286 | | | Distillers grains | 47,205 | | | 2,364 | | | — | | | 49,569 | | | Renewable corn oil | 35,717 | | | — | | | — | | | 35,717 | | | Other | — | | | 31,534 | | | — | | | 31,534 | | | Intersegment revenues | — | | | 6,089 | | | (6,089) | | | — | | | Total revenues from contracts accounted for as derivatives | 351,067 | | | 58,128 | | | (6,089) | | | 403,106 | | | Total Revenues | $ | 393,359 | | | $ | 58,605 | | | $ | (6,160) | | | $ | 445,804 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | Ethanol Production | | Agribusiness & Energy
Services | | Eliminations | | Total | | Revenues | | | | | | | | | Revenues from contracts with customers under ASC 606 | | | | | | | | | Ethanol | $ | — | | | $ | — | | | $ | — | | | $ | — | | | Distillers grains | 19,389 | | | 3,560 | | | — | | | 22,949 | | | | | | | | | | | Other | 11,244 | | | 1,653 | | | — | | | 12,897 | | | Intersegment revenues | 314 | | | 68 | | | (382) | | | — | | | Total revenues from contracts with customers | 30,947 | | | 5,281 | | | (382) | | | 35,846 | | Revenues from contracts accounted for as derivatives under ASC 815 (1) | | | | | | | | | Ethanol | 378,221 | | | 70,102 | | | — | | | 448,323 | | | Distillers grains | 57,534 | | | 6,081 | | | — | | | 63,615 | | | Renewable corn oil | 31,070 | | | — | | | — | | | 31,070 | | | Other | — | | | 22,661 | | | — | | | 22,661 | | | Intersegment revenues | — | | | 5,704 | | | (5,704) | | | — | | | Total revenues from contracts accounted for as derivatives | 466,825 | | | 104,548 | | | (5,704) | | | 565,669 | | | Total Revenues | $ | 497,772 | | | $ | 109,829 | | | $ | (6,086) | | | $ | 601,515 | |
(1)Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC 606. Major Customer Revenues from Customer A represented approximately 65% of total revenues for the three months ended March 31, 2026, recorded within the ethanol production segment. Revenues from Customer B, Customer C and Customer D represented approximately 13%, 12% and 10%, respectively, of total revenues for the three months ended March 31, 2025, recorded within the ethanol production segment.
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