The Andersons, Inc. (ANDE) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 21, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	000-20557
Entity Registrant Name	ANDERSONS, INC.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-1562374
Entity Address, Address Line One	1947 Briarfield Boulevard
Entity Address, City or Town	Maumee
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43537
City Area Code	419
Local Phone Number	893-5050
Title of 12(b) Security	Common stock, $0.00 par value, $0.01 stated value
Trading Symbol	ANDE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,752,186
Entity Central Index Key	0000821026
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues from external customers	$ 4,020,183	$ 4,450,617	$ 7,901,421	$ 8,428,571
Cost of sales and merchandising revenues	3,798,246	4,219,776	7,531,473	8,078,195
Gross profit	221,937	230,841	369,948	350,376
Operating, administrative and general expenses	116,007	112,559	233,242	214,546
Asset impairment	0	0	87,156	0
Interest expense, net	13,953	16,921	30,578	27,780
Other income, net	12,441	16,792	20,445	20,710
Income before income taxes from continuing operations	104,418	118,153	39,417	128,760
Income tax provision from continuing operations	21,732	15,753	15,848	19,856
Net income from continuing operations	82,686	102,400	23,569	108,904
Loss from discontinued operations, net of income taxes	0	(739)	0	(1,294)
Net income	82,686	101,661	23,569	107,610
Net income (loss) attributable to noncontrolling interests	27,640	21,856	(16,727)	22,303
Net income attributable to The Andersons, Inc.	$ 55,046	$ 79,805	$ 40,296	$ 85,307
Average number of shares outstanding - basic (in shares)	33,744	33,850	33,683	33,795
Average number of share outstanding - diluted (in shares)	34,165	34,416	34,193	34,416
Basic earnings (loss):
Continuing operations (in dollars per share)	$ 1.63	$ 2.38	$ 1.20	$ 2.56
Discontinued operations (in dollars per share)	0	(0.02)	0	(0.04)
Earnings per common share - basic (dollars per share)	1.63	2.36	1.20	2.52
Diluted earnings (loss):
Continuing operations (in dollars per share)	1.61	2.34	1.18	2.52
Discontinued operations (in dollars per share)	0	(0.02)	0	(0.04)
Earnings per common share - diluted (dollars per share)	$ 1.61	$ 2.32	$ 1.18	$ 2.48

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 82,686	$ 101,661	$ 23,569	$ 107,610
Other comprehensive income (loss), net of tax:
Change in unrecognized actuarial loss and prior service cost	(189)	517	(377)	358
Foreign currency translation adjustments	2,669	(5,679)	3,436	(5,581)
Cash flow hedge activity	6,735	6,697	1,939	19,119
Other comprehensive income	9,215	1,535	4,998	13,896
Comprehensive income	91,901	103,196	28,567	121,506
Comprehensive income (loss) attributable to the noncontrolling interests	27,640	21,856	(16,727)	22,303
Comprehensive income attributable to The Andersons, Inc.	$ 64,261	$ 81,340	$ 45,294	$ 99,203

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 96,293	$ 115,269	$ 86,035
Accounts receivable, net	1,030,271	1,248,878	1,141,167
Inventories	990,789	1,731,725	1,618,326
Commodity derivative assets – current	347,684	295,588	638,357
Current assets held-for-sale	0	2,871	18,627
Other current assets	72,228	71,622	70,367
Total current assets	2,537,265	3,465,953	3,572,879
Other assets:
Goodwill	129,342	129,342	129,342
Other intangible assets, net	89,605	100,907	105,222
Right of use assets, net	60,003	61,890	50,233
Other assets held-for-sale	0	0	24,298
Other assets, net	90,390	87,175	91,758
Total other assets	369,340	379,314	400,853
Property, plant and equipment, net	663,441	762,729	763,443
Total assets	3,570,046	4,607,996	4,737,175
Current liabilities:
Short-term debt	102,752	272,575	1,161,428
Trade and other payables	641,376	1,423,633	772,996
Customer prepayments and deferred revenue	189,947	370,524	184,154
Commodity derivative liabilities – current	251,101	98,519	185,903
Current maturities of long-term debt	27,511	110,155	53,951
Current liabilities held-for-sale	0	0	7,314
Accrued expenses and other current liabilities	180,552	245,916	211,830
Total current liabilities	1,393,239	2,521,322	2,577,576
Long-term lease liabilities	34,435	37,147	28,929
Long-term debt, less current maturities	576,489	492,518	563,447
Deferred income taxes	57,030	64,080	63,383
Other long-term liabilities held-for-sale	0	0	3,113
Other long-term liabilities	70,371	63,160	83,521
Total liabilities	2,131,564	3,178,227	3,319,969
Commitments and contingencies
Shareholders’ equity:
Common shares, without par value (63,000 shares authorized and 34,064 shares issued for all periods presented)	142	142	142
Preferred shares, without par value (1,000 shares authorized; none issued)	0	0	0
Additional paid-in-capital	380,376	385,248	378,740
Treasury shares, at cost (270, 446 and 62 shares at 6/30/2023, 12/31/2022 and 6/30/2022, respectively)	(10,270)	(15,043)	(2,313)
Accumulated other comprehensive income	25,482	20,484	15,090
Retained earnings	835,256	807,770	775,495
Total shareholders’ equity of The Andersons, Inc.	1,230,986	1,198,601	1,167,154
Noncontrolling interests	207,496	231,168	250,052
Total equity	1,438,482	1,429,769	1,417,206
Total liabilities and equity	$ 3,570,046	$ 4,607,996	$ 4,737,175

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Statement of Financial Position [Abstract]
Common shares, shares authorized (shares)	63,000,000	63,000,000	63,000,000
Common shares, shares issued (shares)	34,064,000	34,064,000	34,064,000
Preferred shares, shares authorized (shares)	1,000,000	1,000,000	1,000,000
Preferred shares, shares issued (shares)	0	0	0
Treasury shares, at cost (shares)	270,000	446,000	62,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net income from continuing operations	$ 23,569	$ 108,904
Loss from discontinued operations, net of income taxes	0	(1,294)
Net income	23,569	107,610
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	62,585	67,945
Bad debt expense, net	3,720	3,069
Equity in losses of affiliates, net of dividends	231	6,278
Losses (gains) on sales of assets, net	679	(10,305)
Stock-based compensation expense	6,000	4,708
Deferred federal income tax	(7,948)	(13,755)
Asset impairment	87,156	0
Other	(1,730)	8,549
Changes in operating assets and liabilities:
Accounts receivable	207,867	(289,196)
Inventories	734,855	186,685
Commodity derivatives	102,753	(189,090)
Other current and non-current assets	(1,247)	5,106
Payables and other current and non-current liabilities	(1,011,086)	(609,403)
Net cash provided by (used in) operating activities	207,404	(721,799)
Investing Activities
Purchases of property, plant and equipment and capitalized software	(74,991)	(43,472)
Proceeds from sale of assets	1,192	4,672
Purchases of investments	(544)	(2,105)
Purchases of Rail assets	0	(27,276)
Proceeds from sale of Rail assets	2,871	36,341
Other	(201)	1,746
Net cash used in investing activities	(71,673)	(30,094)
Financing Activities
Net receipts (payments) under short-term lines of credit	(173,384)	862,698
Proceeds from issuance of short-term debt	0	350,000
Payments of short-term debt	0	(550,000)
Proceeds from issuance of long-term debt	100,000	0
Payments of long-term debt	(35,861)	(15,077)
Contributions from noncontrolling interest owner	0	2,450
Distributions to noncontrolling interest owner	(24,344)	(9,980)
Payments of debt issuance costs	(767)	(7,802)
Dividends paid	(12,527)	(12,245)
Proceeds from exercises of stock options	0	5,024
Common stock repurchased	(1,747)	0
Value of shares withheld for taxes	(6,616)	(3,349)
Other	259	394
Net cash (used in) provided by financing activities	(154,987)	622,113
Effect of exchange rates on cash and cash equivalents	280	(629)
Decrease in cash and cash equivalents	(18,976)	(130,409)
Cash and cash equivalents at beginning of period	115,269	216,444
Cash and cash equivalents at end of period	$ 96,293	$ 86,035

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Treasury Shares	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interests
Beginning Balance at Dec. 31, 2021	$ 1,307,704	$ 140	$ 368,595	$ (263)	$ 1,194	$ 702,759	$ 235,279
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	107,610					85,307	22,303
Other comprehensive income	11,721				11,721
Amounts reclassified from Accumulated other comprehensive income	2,175				2,175
Contributions from noncontrolling interests	2,450						2,450
Distributions to noncontrolling interests	(9,980)						(9,980)
Stock awards, stock option exercises and other shares issued to employees and directors, net of income tax	7,708	2	10,091	(2,385)
Dividends declared per common share	(12,182)					(12,182)
Restricted share award dividend equivalents	0		54	335		(389)
Ending Balance at Jun. 30, 2022	1,417,206	142	378,740	(2,313)	15,090	775,495	250,052
Beginning Balance at Mar. 31, 2022	1,317,221	142	375,794	(2,265)	13,555	701,799	228,196
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	101,661					79,805	21,856
Other comprehensive income	750				750
Amounts reclassified from Accumulated other comprehensive income	785				785
Stock awards, stock option exercises and other shares issued to employees and directors, net of income tax	2,883		2,946	(63)
Dividends declared per common share	(6,094)					(6,094)
Restricted share award dividend equivalents	0			15		(15)
Ending Balance at Jun. 30, 2022	1,417,206	142	378,740	(2,313)	15,090	775,495	250,052
Beginning Balance at Dec. 31, 2022	1,429,769	142	385,248	(15,043)	20,484	807,770	231,168
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	23,569					40,296	(16,727)
Other comprehensive income	10,073				10,073
Amounts reclassified from Accumulated other comprehensive income	(5,075)				(5,075)
Distributions to noncontrolling interests	(24,344)						(24,344)
Deconsolidation of joint venture	17,399						17,399
Stock awards, stock option exercises and other shares issued to employees and directors, net of income tax	861		(5,494)	6,355
Purchase of treasury shares	(1,747)			(1,747)
Dividends declared per common share	(12,485)					(12,485)
Restricted share award dividend equivalents	462		622	165		(325)
Ending Balance at Jun. 30, 2023	1,438,482	142	380,376	(10,270)	25,482	835,256	207,496
Beginning Balance at Mar. 31, 2023	1,346,412	142	377,768	(11,006)	16,267	786,420	176,821
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	82,686					55,046	27,640
Other comprehensive income	11,957				11,957
Amounts reclassified from Accumulated other comprehensive income	(2,742)				(2,742)
Distributions to noncontrolling interests	(14,364)						(14,364)
Deconsolidation of joint venture	17,399						17,399
Stock awards, stock option exercises and other shares issued to employees and directors, net of income tax	3,405		2,593	812
Purchase of treasury shares	(76)			(76)
Dividends declared per common share	(6,245)					(6,245)
Restricted share award dividend equivalents	50		15			35
Ending Balance at Jun. 30, 2023	$ 1,438,482	$ 142	$ 380,376	$ (10,270)	$ 25,482	$ 835,256	$ 207,496

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Stock awards, stock option exercises and other shares issued to employees and directors, tax	$ 0	$ 0		$ 0	$ 0
Number Of Common Shares Issued For Cash	21	1		222	51
Treasury shares purchased (in shares)	2			51
Dividends declared, per common share (in dollars per share)	$ 0.185		$ 0.1800	$ 0.370	$ 0.360

Basis of Presentation and Conso

Basis of Presentation and Consolidation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation These Condensed Consolidated Financial Statements include the accounts of The Andersons, Inc. and its wholly owned and controlled subsidiaries (the “Company”). Controlled subsidiaries include majority-owned subsidiaries and variable interest entities (“VIEs”) of which the Company is the primary beneficiary. Following the deconsolidation of ELEMENT in the second quarter of 2023, as discussed in Note 15, TAMH is the Company’s only remaining VIE. The portion of these entities that is not owned by the Company is presented as noncontrolling interests. All intercompany accounts and transactions are eliminated in consolidation. Investments in unconsolidated entities in which the Company has significant influence, but not control, are accounted for using the equity method of accounting. During the third quarter of 2021, substantially all of the assets and liabilities of the Rail segment were classified as held-for-sale in the accompanying Condensed Consolidated Balance Sheets as the Company executed a definitive agreement to sell the Rail Leasing business and announced its intent to sell the remaining Rail Repair business, which was subsequently sold in 2022. These transactions effectively constitute the entirety of what has historically been included in the Rail reportable segment. Therefore, the associated operating results, net of income tax, have been classified as discontinued operations in the accompanying Condensed Consolidated Statements of Operations for all periods presented. Throughout this Quarterly Report on Form 10-Q, with the exception of the Condensed Consolidated Statements of Cash Flows, Condensed Consolidated Statements of Equity and unless otherwise indicated, amounts and activity are presented on a continuing operations basis. In the opinion of management, all adjustments consisting of normal and recurring items considered necessary for the fair presentation of the results of operations, financial position, and cash flows for the periods indicated have been made. The results in these Condensed Consolidated Financial Statements are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023. An unaudited Condensed Consolidated Balance Sheet as of June 30, 2022 has been included as the Company operates in several seasonal industries. The Condensed Consolidated Balance Sheet data at December 31, 2022 was derived from the audited Consolidated Financial Statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in The Andersons, Inc. Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”).

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory, Net [Abstract]
Inventories	Inventories Major classes of inventories are presented below. Readily Marketable Inventories ("RMI") are agricultural commodity inventories such as corn, soybeans, wheat, and ethanol co-products, among others, carried at net realizable value which approximates fair value based on their commodity characteristics, widely available market information, and pricing mechanisms. The net realizable value of RMI is calculated as the fair value (spot price of the commodity in an exchange), less cost of disposal and transportation based on the local market. All other inventories are held at lower of cost or net realizable value. (in thousands) June 30, December 31, June 30, Grain and other agricultural products (a) $ 707,980 $ 1,326,531 $ 1,241,933 Energy inventories (a) 19,564 21,084 19,483 Ethanol and co-products (a) 142,978 156,341 179,175 Plant nutrients and cob products 120,267 227,769 177,735 Total inventories $ 990,789 $ 1,731,725 $ 1,618,326 (a) Includes RMI of $691.7 million, $1,308.8 million and $1,214.4 million at June 30, 2023, December 31, 2022 and June 30, 2022, respectively.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The components of Property, plant and equipment, net are as follows: (in thousands) June 30, December 31, June 30, Land $ 31,838 $ 38,689 $ 38,630 Land improvements and leasehold improvements 81,470 92,084 91,542 Buildings and storage facilities 349,773 364,721 370,453 Machinery and equipment 891,368 980,159 949,142 Construction in progress 56,578 41,429 31,237 1,411,027 1,517,082 1,481,004 Less: accumulated depreciation 747,586 754,353 717,561 Property, plant and equipment, net $ 663,441 $ 762,729 $ 763,443 Depreciation expense on property, plant, and equipment used in continuing operations was $24.4 million and $27.5 million for three months ended June 30, 2023 and 2022, respectively. Additionally, depreciation expense on property, plant and equipment used in continuing operations was $50.5 million and $55.8 million for the six months ended June 30, 2023 and 2022, respectively. In the first quarter of 2023, the Company recorded a $87.2 million impairment charge related to ELEMENT, LLC ("ELEMENT"), the Company's joint venture ethanol plant within the Renewables segment. The plant has faced operational and market-based challenges which were exacerbated by a shift in the California Low Carbon Fuel Standard credit markets and high western corn basis. At the time of the impairment, the Company owned 51% of ELEMENT and it was a consolidated entity, so 49% of the impairment charge was represented in Net income (loss) attributable to noncontrolling interests in the Company's Condensed Consolidated Statements of Operations.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Short-term and long-term debt at June 30, 2023, December 31, 2022 and June 30, 2022 consisted of the following: (in thousands) June 30, December 31, June 30, Short-term debt – non-recourse $ 33,555 $ 81,475 $ 97,668 Short-term debt – recourse 69,197 191,100 1,063,760 Total short-term debt $ 102,752 $ 272,575 $ 1,161,428 Current maturities of long-term debt – non-recourse $ 62 $ 63,815 $ 7,707 Current maturities of long-term debt – recourse 27,449 46,340 46,244 Total current maturities of long-term debt $ 27,511 $ 110,155 $ 53,951 Long-term debt, less: current maturities – non-recourse $ — $ 414 $ 60,396 Long-term debt, less: current maturities – recourse 576,489 492,104 503,051 Total long-term debt, less: current maturities $ 576,489 $ 492,518 $ 563,447 The total borrowing capacity of the Company's lines of credit at June 30, 2023, was $1,869.1 million of which the Company had a total of $1,740.7 million available for borrowing. The Company's borrowing capacity is reduced by a combination of outstanding borrowings and letters of credit. As of June 30, 2023, December 31, 2022 and June 30, 2022, the estimated fair value of long-term debt, including the current portion, was $597.6 million, $595.7 million and $617.5 million, respectively. The Company estimates the fair value of its long-term debt based upon the Company’s credit standing and current interest rates offered to the Company on similar bonds and rates currently available to the Company for long-term borrowings with similar terms and remaining maturities. On April 3, 2023, the Company entered into a $100 million 8-year term loan with approximately half of the proceeds used to repay current maturities of long-term debt. The remainder of the proceeds will be used to pay down a portion of outstanding line of credit borrowings. Payment of principal and interest will be made on a quarterly basis. The loan will bear interest at variable rates. On April 18, 2023, ELEMENT was placed into receivership. As the receiver took control of ELEMENT within the quarter, under the VIE consolidation model, the Company was deemed to have lost control of the entity and therefore deconsolidated ELEMENT from its Condensed Consolidated Financial Statements. As a result of the deconsolidation, the $62.8 million of non-recourse debt associated with ELEMENT was removed from Current maturities of long-term debt as of June 30, 2023.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The Company’s operating results are affected by changes to commodity prices. The Trade and Renewables businesses have established “unhedged” futures position limits (the amount of a commodity, either owned or contracted for, that does not have an offsetting derivative contract). To reduce the exposure to market price risk on commodities owned and forward purchase and sale contracts, the Company enters into exchange traded commodity futures and options contracts and over-the-counter forward and option contracts with various counterparties. These contracts are primarily traded via regulated commodity exchanges. The Company’s forward purchase and sales contracts are for physical delivery of the commodity in a future period. Contracts to purchase commodities from producers generally relate to the current or future crop years for delivery periods quoted by regulated commodity exchanges. Most contracts for the sale of commodities to processors or other commercial consumers generally do not extend beyond one year. Most of these contracts meet the definition of derivatives. While the Company considers its commodity contracts to be effective economic hedges, the Company does not designate or account for its commodity contracts as hedges as defined under current accounting standards. The Company primarily accounts for its commodity derivatives at estimated fair value. The estimated fair value of the commodity derivative contracts that require the receipt or posting of cash collateral is recorded on a net basis (offset against cash collateral posted or received, also known as margin deposits) within commodity derivative assets or liabilities. Management determines fair value based on exchange-quoted prices and in the case of its forward purchase and sale contracts, estimated fair value is adjusted for differences in local markets and non-performance risk. For contracts for which physical delivery occurs, balance sheet classification is based on estimated delivery date. For futures, options and over-the-counter contracts in which physical delivery is not expected to occur but, rather, the contract is expected to be net settled, the Company classifies these contracts as current or noncurrent assets or liabilities, as appropriate, based on the Company’s expectations as to when such contracts will be settled. Realized and unrealized gains and losses in the value of commodity contracts (whether due to changes in commodity prices, changes in performance or credit risk, or due to sale, maturity or extinguishment of the commodity contract) and commodity inventories are included in cost of sales and merchandising revenues. Generally accepted accounting principles permit a party to a master netting arrangement to offset fair value amounts recognized for derivative instruments against the right to reclaim cash collateral or obligation to return cash collateral under the same master netting arrangement. The Company has master netting arrangements for its exchange traded futures and options contracts and certain over-the-counter contracts. When the Company enters into a future, option or an over-the-counter contract, an initial margin deposit may be required by the counterparty. The amount of the margin deposit varies by commodity. If the market price of a future, option or an over-the-counter contract moves in a direction that is adverse to the Company’s position, an additional margin deposit, called a maintenance margin, is required. The margin deposit assets and liabilities are included in short-term commodity derivative assets or liabilities, as appropriate, in the Condensed Consolidated Balance Sheets. The following table presents at June 30, 2023, December 31, 2022 and June 30, 2022, a summary of the estimated fair value of the Company’s commodity derivative instruments that require cash collateral and the associated cash posted/received as collateral. The net asset or liability positions of these derivatives (net of their cash collateral) are determined on a counterparty-by-counterparty basis and are included within current or non-current commodity derivative assets (or liabilities) on the Condensed Consolidated Balance Sheets: (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Cash collateral (received) paid $ (15,290) $ 64,530 $ 70,442 Fair value of derivatives 85,123 (10,014) 165,223 Net derivative asset position $ 69,833 $ 54,516 $ 235,665 The following table presents, on a gross basis, current and non-current commodity derivative assets and liabilities: June 30, 2023 (in thousands) Commodity Derivative Assets - Current Commodity Derivative Assets - Noncurrent Commodity Derivative Liabilities - Current Commodity Derivative Liabilities - Noncurrent Total Commodity derivative assets $ 438,227 $ 3,959 $ 26,312 $ 59 $ 468,557 Commodity derivative liabilities (75,253) (1,029) (277,413) (4,215) (357,910) Cash collateral (received) paid (15,290) — — — (15,290) Balance sheet line item totals $ 347,684 $ 2,930 $ (251,101) $ (4,156) $ 95,357 December 31, 2022 (in thousands) Commodity Derivative Assets - Current Commodity Derivative Assets - Noncurrent Commodity Derivative Liabilities - Current Commodity Derivative Liabilities - Noncurrent Total Commodity derivative assets $ 325,762 $ 1,796 $ 18,426 $ 686 $ 346,670 Commodity derivative liabilities (94,704) (149) (116,945) (1,484) (213,282) Cash collateral (received) paid 64,530 — — — 64,530 Balance sheet line item totals $ 295,588 $ 1,647 $ (98,519) $ (798) $ 197,918 June 30, 2022 (in thousands) Commodity Derivative Assets - Current Commodity Derivative Assets - Noncurrent Commodity Derivative Liabilities - Current Commodity Derivative Liabilities - Noncurrent Total Commodity derivative assets $ 707,542 $ 14,257 $ 29,223 $ 1,945 $ 752,967 Commodity derivative liabilities (138,627) (2,132) (216,126) (12,040) (368,925) Cash collateral (received) paid 69,442 — 1,000 — 70,442 Balance sheet line item totals $ 638,357 $ 12,125 $ (185,903) $ (10,095) $ 454,484 The net gains and losses on commodity derivatives not designated as hedging instruments included in the Company’s Condensed Consolidated Statements of Operations and the line items in which they are located for the three and six months ended June 30, 2023 and 2022 are as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Gains (losses) on commodity derivatives included in Cost of sales and merchandising revenues $ 4,827 $ 230,188 $ (22,741) $ 264,186 The Company had the following volume of commodity derivative contracts outstanding (on a gross basis) at June 30, 2023, December 31, 2022 and June 30, 2022: June 30, 2023 (in thousands) Number of Bushels Number of Gallons Number of Tons Non-exchange traded: Corn 547,805 — — Soybeans 42,273 — — Wheat 236,316 — — Oats 27,824 — — Ethanol — 208,251 — Dried distillers grain — — 479 Soybean meal — — 290 Other 11,064 33,819 2,704 Subtotal 865,282 242,070 3,473 Exchange traded: Corn 177,425 — — Soybeans 27,555 — — Wheat 59,262 — — Oats 960 — — Ethanol — 74,760 — Propane — 63,630 — Other — 1,008 393 Subtotal 265,202 139,398 393 Total 1,130,484 381,468 3,866 December 31, 2022 (in thousands) Number of Bushels Number of Gallons Number of Tons Non-exchange traded: Corn 567,405 — — Soybeans 56,608 — — Wheat 102,716 — — Oats 24,710 — — Ethanol — 178,935 — Dried distillers grain — — 449 Soybean meal — — 570 Other 10,054 44,547 2,029 Subtotal 761,493 223,482 3,048 Exchange traded: Corn 170,280 — — Soybeans 46,380 — — Wheat 111,567 — — Oats 365 — — Ethanol — 94,206 — Propane — 47,208 — Other — 588 581 Subtotal 328,592 142,002 581 Total 1,090,085 365,484 3,629 June 30, 2022 (in thousands) Number of Bushels Number of Gallons Number of Tons Non-exchange traded: Corn 628,471 — — Soybeans 116,679 — — Wheat 97,224 — — Oats 37,355 — — Ethanol — 200,388 — Dried distillers grain — — 318 Soybean meal — — 421 Other 8,549 25,767 3,032 Subtotal 888,278 226,155 3,771 Exchange traded: Corn 219,020 — — Soybeans 69,115 — — Wheat 74,418 — — Oats 650 — — Ethanol — 94,794 — Propane — 25,578 — Other 95 546 360 Subtotal 363,298 120,918 360 Total 1,251,576 347,073 4,131 Interest Rate and Other Derivatives The Company’s objectives for using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The gains or losses on the derivatives designated as hedging instruments are recorded in Other comprehensive income (loss) and subsequently reclassified into interest expense in the same periods during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. The Company had recorded the following amounts for the fair value of the Company's other derivatives: (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Derivatives not designated as hedging instruments Foreign currency contracts included in Other current assets (liabilities) $ 852 $ (3,124) $ (1,749) Derivatives designated as hedging instruments Interest rate contracts included in Other current assets $ 11,107 $ 8,759 $ 3,276 Interest rate contracts included in Other assets 22,881 22,641 15,047 The recording of derivatives gains and losses and the financial statement line in which they are located are as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Derivatives designated as hedging instruments Interest rate derivative gains (losses) included in Other comprehensive income (loss) $ 8,996 $ 8,923 $ 2,590 $ 25,464 Interest rate derivative gains (losses) included in Interest expense, net 2,515 (1,013) 4,619 (2,631) Outstanding interest rate derivatives, as of June 30, 2023, are as follows: Interest Rate Hedging Instrument Year Entered Year of Maturity Initial Notional Amount Description Interest Rate Long-term Swap 2019 2025 $ 96.9 Interest rate component of debt - accounted for as a hedge 2.3% Swap 2019 2025 $ 48.4 Interest rate component of debt - accounted for as a hedge 2.4% Swap 2019 2025 $ 48.4 Interest rate component of debt - accounted for as a hedge 2.4% Swap 2020 2030 $ 50.0 Interest rate component of debt - accounted for as a hedge 0.0% to 0.8% Swap 2020 2030 $ 50.0 Interest rate component of debt - accounted for as a hedge 0.0% to 0.8% Swap 2022 2025 $ 20.0 Interest rate component of debt - accounted for as a hedge 2.6% Swap 2022 2029 $ 100.0 Interest rate component of debt - accounted for as a hedge 2.0% Swap 2022 2029 $ 50.0 Interest rate component of debt - accounted for as a hedge 2.4% Swap 2023 2024 $ 50.0 Interest rate component of debt - accounted for as a hedge 3.7% Swap 2023 2025 $ 50.0 Interest rate component of debt - accounted for as a hedge 3.7% Swap 2023 2031 $ 50.0 Interest rate component of debt - accounted for as a hedge 2.9%

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Many of the Company’s sales and merchandising revenues are generated from contracts that are outside the scope of ASC 606, Revenue from Contracts with Customers . Specifically, many of the Company's Trade and Renewables sales contracts are derivatives under ASC 815, Derivatives and Hedging . The breakdown of revenues between ASC 606 and ASC 815 is as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Revenues under ASC 606 $ 975,269 $ 956,013 $ 1,714,247 $ 1,633,869 Revenues under ASC 815 3,044,914 3,494,604 6,187,174 6,794,702 Total revenues $ 4,020,183 $ 4,450,617 $ 7,901,421 $ 8,428,571 The remainder of this note applies only to those revenues that are accounted for under ASC 606. Disaggregation of revenue The following tables disaggregate revenues under ASC 606 by major product/service line for the three and six months ended June 30, 2023 and 2022, respectively: Three months ended June 30, 2023 (in thousands) Trade Renewables Nutrient & Industrial Total Specialty nutrients $ — $ — $ 98,335 $ 98,335 Primary nutrients — — 315,101 315,101 Products and co-products 114,289 368,646 — 482,935 Propane 30,155 — — 30,155 Other 14,782 1,804 32,157 48,743 Total $ 159,226 $ 370,450 $ 445,593 $ 975,269 Three months ended June 30, 2022 (in thousands) Trade Renewables Nutrient & Industrial Total Specialty nutrients $ — $ — $ 104,357 $ 104,357 Primary nutrients — — 336,487 336,487 Products and co-products 101,195 329,224 — 430,419 Propane 41,088 — — 41,088 Other 12,844 1,378 29,440 43,662 Total $ 155,127 $ 330,602 $ 470,284 $ 956,013 Six months ended June 30, 2023 (in thousands) Trade Renewables Nutrient & Industrial Total Specialty nutrients $ — $ — $ 168,332 $ 168,332 Primary nutrients — — 379,851 379,851 Products and co-products 203,256 763,255 — 966,511 Propane 106,678 — — 106,678 Other 27,372 4,152 61,351 92,875 Total $ 337,306 $ 767,407 $ 609,534 $ 1,714,247 Six months ended June 30, 2022 (in thousands) Trade Renewables Nutrient & Industrial Total Specialty nutrients $ — $ — $ 197,625 $ 197,625 Primary nutrients — — 426,369 426,369 Products and co-products 209,066 561,918 — 770,984 Propane 155,591 — — 155,591 Other 24,375 2,593 56,332 83,300 Total $ 389,032 $ 564,511 $ 680,326 $ 1,633,869 Substantially all of the Company's revenues accounted for under ASC 606 during the three and six months ended June 30, 2023 and 2022, respectively, are recorded at a point in time instead of over time. Contract balances The balances of the Company’s contract liabilities were $15.9 million and $55.4 million as of June 30, 2023 and December 31, 2022, respectively. The difference between the opening and closing balances of the Company’s contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. The main driver of the contract liabilities balance are payments for primary and specialty nutrients received in advance of fulfilling our performance obligations under our customer contracts. Due to seasonality of this business, contract liabilities are built up through the first quarter in preparation for the spring application season. As expected, the revenue recognized in the current period satisfied the contract liabilities throughout the spring application season for our Nutrient & Industrial segment.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On a quarterly basis, the Company estimates the effective tax rate expected to be applicable for the full year and makes changes, if necessary, based on new information or events. The estimated annual effective tax rate is forecasted based on actual historical information and forward-looking estimates and is used to provide for income taxes in interim reporting periods. The Company also recognizes the tax impact of certain unusual or infrequently occurring items, such as the effects of changes in tax laws or rates and impacts from settlements with tax authorities, discretely in the quarter in which they occur. For the three months ended June 30, 2023, the Company recorded income tax expense from continuing operations of $21.7 million. The Company's effective tax rate was 20.8% on income before income taxes from continuing operations of $104.4 million. The difference between the 20.8% effective tax rate and the U.S. federal statutory tax rate of 21.0% is primarily attributable to the tax impact of non-controlling interest offset by state and local income taxes and nondeductible compensation. During the three months ended June 30, 2023, discrete tax expense of $1.4 million was recorded on income before taxes of $6.5 million related to gain on deconsolidation of the ELEMENT joint venture. For the three months ended June 30, 2022, the Company recorded income tax expense from continuing operations of $15.8 million. The Company’s effective tax rate was 13.3% on income before income taxes from continuing operations of $118.2 million. The effective tax rate differs from the U.S. federal statutory rate of 21.0% due to the tax impact of non-controlling interest as well as certain discrete derivatives and hedging activities offset by state and local income taxes and nondeductible compensation. For the six months ended June 30, 2023, the Company recorded an income tax expense from continuing operations of $15.8 million. The Company's effective tax rate was 40.2% on income before income taxes from continuing operations of $39.4 million. The difference between the 40.2% effective tax rate and the U.S. federal statutory tax rate of 21.0% is primarily attributable to the tax impact of non-controlling interest, state and local income taxes and nondeductible compensation. During the six months ended June 30, 2023, a net discrete income tax benefit of $10.6 million was recorded on a net loss before taxes of $88.8 million related to the current year operations, impairment charge, and gain on deconsolidation associated with ELEMENT.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income The following table summarizes the changes in accumulated other comprehensive income ("AOCI") attributable to the Company for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Currency Translation Adjustment Beginning balance $ (7,436) $ 5,729 $ (8,203) $ 5,631 Other comprehensive income (loss) before reclassifications 2,669 (5,679) 3,436 (5,581) Tax effect — — — — Other comprehensive income (loss), net of tax 2,669 (5,679) 3,436 (5,581) Ending balance $ (4,767) $ 50 $ (4,767) $ 50 Hedging Adjustment Beginning balance $ 18,750 $ 7,087 $ 23,546 $ (5,335) Other comprehensive income (loss) before reclassifications 11,511 7,910 7,209 22,833 Amounts reclassified from AOCI (a) (2,514) 1,013 (4,619) 2,631 Tax effect (2,262) (2,226) (651) (6,345) Other comprehensive income (loss), net of tax 6,735 6,697 1,939 19,119 Ending balance $ 25,485 $ 13,784 $ 25,485 $ 13,784 Pension and Other Postretirement Adjustment Beginning balance $ 4,695 $ 481 $ 4,883 $ 640 Other comprehensive income (loss) before reclassifications (15) 845 (29) 914 Amounts reclassified from AOCI (b) (228) (228) (456) (456) Tax effect 54 (100) 108 (100) Other comprehensive income (loss), net of tax (189) 517 (377) 358 Ending balance $ 4,506 $ 998 $ 4,506 $ 998 Investments in Convertible Preferred Securities Adjustment Beginning balance $ 258 $ 258 $ 258 $ 258 Other comprehensive income (loss), net of tax — — — — Ending balance $ 258 $ 258 $ 258 $ 258 Total AOCI Ending Balance $ 25,482 $ 15,090 $ 25,482 $ 15,090 (a) Amounts reclassified from gain (loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Interest expense, net. See Note 5 for additional information. (b) This accumulated other comprehensive loss component is included in the computation of net periodic benefit cost recorded in Operating, administrative and general expenses.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share (in thousands, except per common share data) Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Numerator: Net income from continuing operations $ 82,686 $ 102,400 $ 23,569 $ 108,904 Net income (loss) attributable to noncontrolling interests (a) 27,640 21,856 (16,727) 22,303 Net income attributable to The Andersons, Inc. common shareholders from continuing operations $ 55,046 $ 80,544 $ 40,296 $ 86,601 Loss from discontinued operations, net of income taxes $ — $ (739) $ — $ (1,294) Denominator: Weighted average shares outstanding – basic 33,744 33,850 33,683 33,795 Effect of dilutive awards 421 566 510 621 Weighted average shares outstanding – diluted 34,165 34,416 34,193 34,416 Earnings (loss) per share attributable to The Andersons, Inc. common shareholders: Basic earnings (loss): Continuing operations $ 1.63 $ 2.38 $ 1.20 $ 2.56 Discontinued operations — (0.02) — (0.04) $ 1.63 $ 2.36 $ 1.20 $ 2.52 Diluted earnings (loss): Continuing operations $ 1.61 $ 2.34 $ 1.18 $ 2.52 Discontinued operations — (0.02) — (0.04) $ 1.61 $ 2.32 $ 1.18 $ 2.48 (a) All net income (loss) attributable to noncontrolling interests is within continuing operations of the Company.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2023, December 31, 2022 and June 30, 2022: (in thousands) June 30, 2023 Assets (liabilities) Level 1 Level 2 Level 3 Total Commodity derivatives, net (a) $ 69,833 $ 25,524 $ — $ 95,357 Provisionally priced contracts (b) (19,061) (16,529) — (35,590) Convertible preferred securities (c) — — 15,424 15,424 Other assets and liabilities (d) 5,018 33,988 — 39,006 Total $ 55,790 $ 42,983 $ 15,424 $ 114,197 (in thousands) December 31, 2022 Assets (liabilities) Level 1 Level 2 Level 3 Total Commodity derivatives, net (a) $ 54,516 $ 143,402 $ — $ 197,918 Provisionally priced contracts (b) (20,960) (115,377) — (136,337) Convertible preferred securities (c) — — 16,278 16,278 Other assets and liabilities (d) (209) 31,400 — 31,191 Total $ 33,347 $ 59,425 $ 16,278 $ 109,050 (in thousands) June 30, 2022 Assets (liabilities) Level 1 Level 2 Level 3 Total Commodity derivatives, net (a) $ 235,665 $ 218,819 $ — $ 454,484 Provisionally priced contracts (b) 38,061 (27,945) — 10,116 Convertible preferred securities (c) — — 16,803 16,803 Other assets and liabilities (d) 1,097 18,323 — 19,420 Total $ 274,823 $ 209,197 $ 16,803 $ 500,823 (a) Includes associated cash posted/received as collateral. (b) Included in "Provisionally priced contracts" are those instruments based only on underlying futures values (Level 1) and delayed price contracts (Level 2). (c) Recorded in “Other assets, net” on the Company’s Condensed Consolidated Balance Sheets related to certain available for sale securities. (d) Included in other assets and liabilities are assets held by the Company to fund deferred compensation plans and foreign exchange derivative contracts (Level 1), as well as interest rate derivatives (Level 2). Level 1 commodity derivatives reflect the fair value of the exchanged-traded futures and options contracts that the Company holds, net of the cash collateral, that the Company has in its margin account. The majority of the Company’s assets and liabilities measured at fair value are based on the market approach valuation technique. With the market approach, fair value is derived using prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The Company’s net commodity derivatives primarily consist of futures or options contracts via regulated exchanges and contracts with producers or customers under which the future settlement date and bushels (or gallons in the case of ethanol contracts) of commodities to be delivered (primarily wheat, corn, soybeans and ethanol) are fixed and under which the price may or may not be fixed. Depending on the specifics of the individual contracts, the fair value is derived from the futures or options prices quoted on various exchanges for similar commodities and delivery dates as well as observable quotes for local basis adjustments (the difference, which is attributable to local market conditions, between the quoted futures price and the local cash price). Because “basis” for a particular commodity and location typically has multiple quoted prices from other agribusinesses in the same geographical vicinity and is used as a common pricing mechanism in the agribusiness industry, the Company has concluded that “basis” is typically a Level 2 fair value input for purposes of the fair value disclosure requirements related to our commodity derivatives, depending on the specific commodity. Although nonperformance risk, both of the Company and the counterparty, is present in each of these commodity contracts and is a component of the estimated fair values, based on the Company’s historical experience with its producers and customers and the Company’s knowledge of their businesses, the Company does not view nonperformance risk to be a significant input to fair value for these commodity contracts. These fair value disclosures exclude RMI which consists of agricultural commodity inventories measured at net realizable value. The net realizable value used to measure the Company’s agricultural commodity inventories is the fair value (spot price of the commodity in an exchange), less cost of disposal and transportation based on the local market. This valuation would generally be considered Level 2. The amount of RMI is disclosed in Note 2. Changes in the net realizable value of commodity inventories are recognized as a component of cost of sales and merchandising revenues. Provisionally priced contract liabilities are those for which the Company has taken ownership and possession of grain, but the final purchase price has not been established. In the case of payables where the unpriced portion of the contract is limited to the futures price of the underlying commodity or the Company has delivered provisionally priced grain and a subsequent payable or receivable is set up for any future changes in the grain price, quoted exchange prices are used and the liability is deemed to be Level 1 in the fair value hierarchy. For all other unpriced contracts which include variable futures and basis components, the amounts recorded for delayed price contracts are determined on the basis of local grain market prices at the balance sheet date and, as such, are deemed to be Level 2 in the fair value hierarchy. The convertible preferred securities are interests in several early-stage enterprises that may be in various forms, such as convertible debt or preferred equity securities. A reconciliation of beginning and ending balances for the Company’s fair value measurements using Level 3 inputs is as follows: Convertible Preferred Securities (in thousands) 2023 2022 Assets at January 1, $ 16,278 $ 11,618 Purchases of additional investments — 3,883 Gains included in Other income, net 802 404 Proceeds from investments (1,670) — Assets at March 31, $ 15,410 $ 15,905 Purchases of additional investments 235 772 Gains (losses) included in Other income, net (221) 126 Assets at June 30, $ 15,424 $ 16,803 The following tables summarize quantitative information about the Company's Level 3 fair value measurements as of June 30, 2023, December 31, 2022 and June 30, 2022: Quantitative Information about Recurring Level 3 Fair Value Measurements Fair Value as of (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Valuation Method Unobservable Input Weighted Average Convertible preferred securities (a) $ 15,424 $ 16,278 $ 16,803 Implied based on market prices N/A N/A (a) The Company considers observable price changes and other additional market data available to estimate fair value, including additional capital raising, internal valuation models, progress towards key business milestones, and other relevant market data points. Quantitative Information about Non-Recurring Level 3 Fair Value Measurements Fair Value as of (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Valuation Method Unobservable Input Weighted Average Grain Assets (a) $ — $ 9,000 $ — Third party appraisal Various N/A Equity method investment (b) $ — $ — $ 11,538 Discounted cash flow analysis Various N/A (a) The Company recognized impairment charges on a Nebraska grain asset. The fair value of the asset was determined using third-party appraisals. These measures are considered Level 3 inputs on a nonrecurring basis. (b) The Company recorded an other-than-temporary impairment charge on an existing equity method investment. The fair value of the investment was determined using a discounted cash flow analysis.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Parties	Related Parties In the ordinary course of business, and on an arm's length basis, the Company will enter into related party transactions with the minority shareholders of the Company's Renewables operations and several equity method investments that the Company holds, along with other related parties. The following table sets forth the related party transactions entered into for the time periods presented: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Sales of products $ 97,099 $ 103,106 $ 172,050 $ 189,255 Purchases of products 14,524 11,983 30,226 38,409 (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Accounts receivable $ 15,218 $ 12,272 $ 17,560 Accounts payable 2,503 7,070 3,060

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s operations include three reportable business segments that are distinguished primarily on the basis of products and services offered as well as the structure of management. The Trade business includes commodity merchandising and the operation of terminal grain elevator facilities. The Renewables business produces ethanol and co-products through its four co-owned and fully consolidated ethanol production facilities as well as purchases and sells ethanol and ethanol co-products. The Nutrient & Industrial (formerly Plant Nutrient) business manufactures and distributes plant nutrient products such as agricultural inputs, primarily fertilizers and turf care products along with industrial products such as deicers, dust abatement solutions and corncob-based products. The segment was rebranded in 2023 to reflect the portfolio of market offerings in the segment. The Other category includes other corporate level costs not attributable to an operating segment and intercompany eliminations between the segments. 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 June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Revenues from external customers Trade $ 2,696,810 $ 3,097,767 $ 5,574,590 $ 6,182,448 Renewables 877,781 882,567 1,717,297 1,565,798 Nutrient & Industrial 445,592 470,283 609,534 680,325 Total $ 4,020,183 $ 4,450,617 $ 7,901,421 $ 8,428,571 Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Income before income taxes from continuing operations Trade $ 4,990 $ 23,666 $ 44,354 $ 27,335 Renewables (a) 66,604 67,776 (15,909) 73,738 Nutrient & Industrial 42,565 38,311 32,127 49,054 Other (9,741) (11,600) (21,155) (21,367) Total $ 104,418 $ 118,153 $ 39,417 $ 128,760 (a) Includes income (loss) attributable to noncontrolling interests of $27.6 million and $21.9 million for the three months ended June 30, 2023 and 2022, respectively, and $(16.7) million and $22.3 million for the six months ended June 30, 2023 and 2022, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation activities The Company is party to litigation, or threats thereof, both as defendant and plaintiff with some regularity, although individual cases that are material in size occur infrequently. As a defendant, the Company establishes reserves for claimed amounts that are considered probable and capable of estimation. If those cases are resolved for lesser amounts, the excess reserves are taken into income and, conversely, if those cases are resolved for larger than the amount the Company has accrued, the Company records additional expense. The Company believes it is unlikely that the results of its current legal proceedings for which it is the defendant, even if unfavorable, will be material. As a plaintiff, amounts that are collected can also result in sudden, non-recurring income. Litigation results depend upon a variety of factors, including the availability of evidence, the credibility of witnesses, the performance of counsel, the state of the law, and the impressions of judges and jurors, any of which can be critical in importance, yet difficult, if not impossible, to predict. Consequently, cases currently pending, or future matters, may result in unexpected, and non-recurring losses, or income, from time to time. Finally, litigation results are often subject to judicial reconsideration, appeal and further negotiation by the parties, and as a result, the final impact of a particular judicial decision may be unknown for some time or may result in continued reserves to account for the potential of such post-verdict actions. The estimated losses for all other outstanding claims that are considered reasonably possible are not material.

Other Income

Other Income	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Other Income	Other Income The following table sets forth the items in Other income, net within the Condensed Consolidated Statements of Operations for the periods presented below: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Gain on deconsolidation of joint venture $ 6,544 $ — $ 6,544 $ — Property insurance recoveries 2,180 1,851 3,183 3,106 Interest income 1,708 819 3,175 1,293 Patronage income 78 936 2,094 2,399 Gain on sale of frac sand assets — 3,979 — 3,979 Biofuel Producer Program funds — 17,643 — 17,643 Equity earnings (losses) in affiliates (417) (6,034) (231) (6,278) Other 2,348 (2,402) 5,680 (1,432) Total $ 12,441 $ 16,792 $ 20,445 $ 20,710 Individually significant items included in the table above are: Gain on deconsolidation of joint venture - On April 18, 2023, ELEMENT was placed into receivership. As the receiver took control of ELEMENT within the quarter, under the VIE consolidation model, the Company was deemed to have lost control of the entity and therefore deconsolidated ELEMENT from its Condensed Consolidated Financial Statements. As a result of these activities, the Company recognized a gain on deconsolidation. See footnote 15 for additional information. Property insurance recoveries - In 2023, property insurance recoveries consisted of proceeds of $2.2 million relating to a conveyor collapse in Delhi, Louisiana in the prior year, the remaining proceeds consists of several individually insignificant amounts in the ordinary course of business. In 2022, property insurance recoveries consisted of proceeds of approximately $3.0 million relating to a prior period incident at the Company’s Galena Park, Texas facility, the remaining proceeds consists of several individually insignificant amounts in the ordinary course of business. Interest income - The Company earns interest income on cash and cash equivalents held in money market accounts at TAMH along with inventory financing programs provided by the Company. For the six months ended June 30, 2023, the money market account at TAMH earned $1.0 million and the inventory financing program earned $1.1 million , the remaining interest income consists of several individually insignificant amounts in the ordinary course of business. Interest income for the year ended June 30, 2022 consisted of individually insignificant amounts in the ordinary course of business. Patronage income - As a part of the Company’s normal operations it relies heavily on short-term lines of credit in order to support working capital needs in addition to long-term debt presented on the balance sheet. As part of these programs the Company receives patronage income annually from its lenders. Gain on sale of frac sand assets - Gains on sale of frac sand assets for the year ended June 30, 2022, consisted of gains on the sale of the Company’s remaining frac sand facilities and assets in Oklahoma City, Oklahoma and North Branch, Minnesota of $4.0 million. Biofuel Producer Program funds - In 2022, the USDA as a part of the Biofuel Producer Program, created under the CARES Act, provided funding to support biofuel producers who faced unexpected market losses due to the COVID-19 pandemic. Under this program TAMH and ELEMENT received proceeds of $13.3 million and $4.3 million, respectively. Of these proceeds $8.9 million was attributable to the Company and the remaining $8.7 million attributable to the noncontrolling interest. Equity earnings (losses) in affiliates - In 2022, the Company recorded an impairment charge on a Canadian equity method investment for $4.5 million, the remaining equity earnings (losses) in affiliates consists of individually insignificant activity in the ordinary course of business.

ELEMENT

ELEMENT	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
ELEMENT	ELEMENT ELEMENT was structured as a limited liability company established for the primary purpose of producing ethanol and additional co-products such as distiller’s dried grain and corn oil. The facility located in Colwich, Kansas was designed to produce 70 million gallons of ethanol per year and began operations in August 2019. The Company holds 51% of the membership units and ICM Holdings, Inc. (“ICM”) owns the remaining 49% of the membership units. The Company acted as the manager of the facility, responsibilities which were assumed per the Management Services Agreement dated January 1, 2021, and it was concluded to be a variable interest entity (“VIE”) and consolidated ELEMENT within the Company’s Consolidated Financial Statements. The plant has faced operational and market-based challenges. These challenges have been exacerbated by a shift in the California Low Carbon Fuel Standard credit markets and high western corn basis. In early 2023, ELEMENT was unable to make its scheduled debt payments and was placed into default. The default led to an impairment triggering event, concluding in an $87.2 million impairment charge in the first quarter. On April 18, 2023, ELEMENT was placed into receivership and was appointed a receiver, which took possession and control of the rights and interests of ELEMENT. The facility is being marketed for sale. With this appointment, while retaining its investment in ELEMENT, the Company ceased to have a controlling financial interest and was no longer deemed to be the primary beneficiary in the subsidiary. Accordingly, the Company deconsolidated ELEMENT at that time and began accounting for the subsidiary as an equity method investment which resulted in a pretax gain of $18.1 million. Additionally, the Company had a $9.6 million balance in raw material and fee receivables as well as $2.0 million in loans and interest due from ELEMENT that were previously eliminated in consolidation. Upon deconsolidation, the fair values of these receivables and loans from ELEMENT to the Company were ascertained to have no value and were fully reserved for resulting in a pretax loss of $11.6 million. The combination of this activity triggered by the ELEMENT deconsolidation resulted in a cumulative net pretax gain of $6.5 million which was recorded in Other income, net in the Condensed Consolidated Statements of Operations. As of June 30, 2023, ELEMENT has continued to incur losses and there have been no payments on the outstanding receivables or loan mentioned previously. No equity method losses related to ELEMENT have been recorded since deconsolidation as the investment is in a negative position as of June 30, 2023.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn July 10, 2023, the Company closed on the purchase of the assets of ACJ International LLC ("ACJ"), an ingredient, logistics, and supply chain management company in the pet food industry, headquartered in St. Louis, Missouri. The Company purchased ACJ for $41.4 million, of which, $24.4 million was paid at closing and the remaining estimated amount will be paid over three years based on certain earn-out provisions.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 55,046	$ 79,805	$ 40,296	$ 85,307

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Brian K. Walz [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 24, 2023, Brian K. Walz, Treasurer, entered into a Rule 105b-1 plan to sell up to 3,414 shares of the Company's common stock, based on certain price parameters, from August 25, 2023, to August 30, 2024.
Name	Brian K. Walz
Title	Treasurer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 24, 2023
Arrangement Duration	371 days
Aggregate Available	3,414	3,414

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory, Net [Abstract]
Classes of inventories	(in thousands) June 30, December 31, June 30, Grain and other agricultural products (a) $ 707,980 $ 1,326,531 $ 1,241,933 Energy inventories (a) 19,564 21,084 19,483 Ethanol and co-products (a) 142,978 156,341 179,175 Plant nutrients and cob products 120,267 227,769 177,735 Total inventories $ 990,789 $ 1,731,725 $ 1,618,326 (a) Includes RMI of $691.7 million, $1,308.8 million and $1,214.4 million at June 30, 2023, December 31, 2022 and June 30, 2022, respectively.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Components of property, plant and equipment	The components of Property, plant and equipment, net are as follows: (in thousands) June 30, December 31, June 30, Land $ 31,838 $ 38,689 $ 38,630 Land improvements and leasehold improvements 81,470 92,084 91,542 Buildings and storage facilities 349,773 364,721 370,453 Machinery and equipment 891,368 980,159 949,142 Construction in progress 56,578 41,429 31,237 1,411,027 1,517,082 1,481,004 Less: accumulated depreciation 747,586 754,353 717,561 Property, plant and equipment, net $ 663,441 $ 762,729 $ 763,443

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Short-term and Long-term Debt	Short-term and long-term debt at June 30, 2023, December 31, 2022 and June 30, 2022 consisted of the following: (in thousands) June 30, December 31, June 30, Short-term debt – non-recourse $ 33,555 $ 81,475 $ 97,668 Short-term debt – recourse 69,197 191,100 1,063,760 Total short-term debt $ 102,752 $ 272,575 $ 1,161,428 Current maturities of long-term debt – non-recourse $ 62 $ 63,815 $ 7,707 Current maturities of long-term debt – recourse 27,449 46,340 46,244 Total current maturities of long-term debt $ 27,511 $ 110,155 $ 53,951 Long-term debt, less: current maturities – non-recourse $ — $ 414 $ 60,396 Long-term debt, less: current maturities – recourse 576,489 492,104 503,051 Total long-term debt, less: current maturities $ 576,489 $ 492,518 $ 563,447

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Estimated fair value of Company's commodity derivative instruments for cash collateral and associated cash as collateral	The net asset or liability positions of these derivatives (net of their cash collateral) are determined on a counterparty-by-counterparty basis and are included within current or non-current commodity derivative assets (or liabilities) on the Condensed Consolidated Balance Sheets: (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Cash collateral (received) paid $ (15,290) $ 64,530 $ 70,442 Fair value of derivatives 85,123 (10,014) 165,223 Net derivative asset position $ 69,833 $ 54,516 $ 235,665
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table presents, on a gross basis, current and non-current commodity derivative assets and liabilities: June 30, 2023 (in thousands) Commodity Derivative Assets - Current Commodity Derivative Assets - Noncurrent Commodity Derivative Liabilities - Current Commodity Derivative Liabilities - Noncurrent Total Commodity derivative assets $ 438,227 $ 3,959 $ 26,312 $ 59 $ 468,557 Commodity derivative liabilities (75,253) (1,029) (277,413) (4,215) (357,910) Cash collateral (received) paid (15,290) — — — (15,290) Balance sheet line item totals $ 347,684 $ 2,930 $ (251,101) $ (4,156) $ 95,357 December 31, 2022 (in thousands) Commodity Derivative Assets - Current Commodity Derivative Assets - Noncurrent Commodity Derivative Liabilities - Current Commodity Derivative Liabilities - Noncurrent Total Commodity derivative assets $ 325,762 $ 1,796 $ 18,426 $ 686 $ 346,670 Commodity derivative liabilities (94,704) (149) (116,945) (1,484) (213,282) Cash collateral (received) paid 64,530 — — — 64,530 Balance sheet line item totals $ 295,588 $ 1,647 $ (98,519) $ (798) $ 197,918 June 30, 2022 (in thousands) Commodity Derivative Assets - Current Commodity Derivative Assets - Noncurrent Commodity Derivative Liabilities - Current Commodity Derivative Liabilities - Noncurrent Total Commodity derivative assets $ 707,542 $ 14,257 $ 29,223 $ 1,945 $ 752,967 Commodity derivative liabilities (138,627) (2,132) (216,126) (12,040) (368,925) Cash collateral (received) paid 69,442 — 1,000 — 70,442 Balance sheet line item totals $ 638,357 $ 12,125 $ (185,903) $ (10,095) $ 454,484
Company's Condensed Consolidated Statement of Income gains and location of line items	The net gains and losses on commodity derivatives not designated as hedging instruments included in the Company’s Condensed Consolidated Statements of Operations and the line items in which they are located for the three and six months ended June 30, 2023 and 2022 are as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Gains (losses) on commodity derivatives included in Cost of sales and merchandising revenues $ 4,827 $ 230,188 $ (22,741) $ 264,186 The recording of derivatives gains and losses and the financial statement line in which they are located are as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Derivatives designated as hedging instruments Interest rate derivative gains (losses) included in Other comprehensive income (loss) $ 8,996 $ 8,923 $ 2,590 $ 25,464 Interest rate derivative gains (losses) included in Interest expense, net 2,515 (1,013) 4,619 (2,631)
Amounts of quantities outstanding included in commodity derivative contracts	The Company had the following volume of commodity derivative contracts outstanding (on a gross basis) at June 30, 2023, December 31, 2022 and June 30, 2022: June 30, 2023 (in thousands) Number of Bushels Number of Gallons Number of Tons Non-exchange traded: Corn 547,805 — — Soybeans 42,273 — — Wheat 236,316 — — Oats 27,824 — — Ethanol — 208,251 — Dried distillers grain — — 479 Soybean meal — — 290 Other 11,064 33,819 2,704 Subtotal 865,282 242,070 3,473 Exchange traded: Corn 177,425 — — Soybeans 27,555 — — Wheat 59,262 — — Oats 960 — — Ethanol — 74,760 — Propane — 63,630 — Other — 1,008 393 Subtotal 265,202 139,398 393 Total 1,130,484 381,468 3,866 December 31, 2022 (in thousands) Number of Bushels Number of Gallons Number of Tons Non-exchange traded: Corn 567,405 — — Soybeans 56,608 — — Wheat 102,716 — — Oats 24,710 — — Ethanol — 178,935 — Dried distillers grain — — 449 Soybean meal — — 570 Other 10,054 44,547 2,029 Subtotal 761,493 223,482 3,048 Exchange traded: Corn 170,280 — — Soybeans 46,380 — — Wheat 111,567 — — Oats 365 — — Ethanol — 94,206 — Propane — 47,208 — Other — 588 581 Subtotal 328,592 142,002 581 Total 1,090,085 365,484 3,629 June 30, 2022 (in thousands) Number of Bushels Number of Gallons Number of Tons Non-exchange traded: Corn 628,471 — — Soybeans 116,679 — — Wheat 97,224 — — Oats 37,355 — — Ethanol — 200,388 — Dried distillers grain — — 318 Soybean meal — — 421 Other 8,549 25,767 3,032 Subtotal 888,278 226,155 3,771 Exchange traded: Corn 219,020 — — Soybeans 69,115 — — Wheat 74,418 — — Oats 650 — — Ethanol — 94,794 — Propane — 25,578 — Other 95 546 360 Subtotal 363,298 120,918 360 Total 1,251,576 347,073 4,131
Schedule of Fair Value of Interest Rate Derivative Liabilities	The Company had recorded the following amounts for the fair value of the Company's other derivatives: (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Derivatives not designated as hedging instruments Foreign currency contracts included in Other current assets (liabilities) $ 852 $ (3,124) $ (1,749) Derivatives designated as hedging instruments Interest rate contracts included in Other current assets $ 11,107 $ 8,759 $ 3,276 Interest rate contracts included in Other assets 22,881 22,641 15,047
Schedule of Outstanding Interest Rate Derivatives	Outstanding interest rate derivatives, as of June 30, 2023, are as follows: Interest Rate Hedging Instrument Year Entered Year of Maturity Initial Notional Amount Description Interest Rate Long-term Swap 2019 2025 $ 96.9 Interest rate component of debt - accounted for as a hedge 2.3% Swap 2019 2025 $ 48.4 Interest rate component of debt - accounted for as a hedge 2.4% Swap 2019 2025 $ 48.4 Interest rate component of debt - accounted for as a hedge 2.4% Swap 2020 2030 $ 50.0 Interest rate component of debt - accounted for as a hedge 0.0% to 0.8% Swap 2020 2030 $ 50.0 Interest rate component of debt - accounted for as a hedge 0.0% to 0.8% Swap 2022 2025 $ 20.0 Interest rate component of debt - accounted for as a hedge 2.6% Swap 2022 2029 $ 100.0 Interest rate component of debt - accounted for as a hedge 2.0% Swap 2022 2029 $ 50.0 Interest rate component of debt - accounted for as a hedge 2.4% Swap 2023 2024 $ 50.0 Interest rate component of debt - accounted for as a hedge 3.7% Swap 2023 2025 $ 50.0 Interest rate component of debt - accounted for as a hedge 3.7% Swap 2023 2031 $ 50.0 Interest rate component of debt - accounted for as a hedge 2.9%

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Breakdown of Revenues between ASC 606	The breakdown of revenues between ASC 606 and ASC 815 is as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Revenues under ASC 606 $ 975,269 $ 956,013 $ 1,714,247 $ 1,633,869 Revenues under ASC 815 3,044,914 3,494,604 6,187,174 6,794,702 Total revenues $ 4,020,183 $ 4,450,617 $ 7,901,421 $ 8,428,571
Schedule of Disaggregation of Revenues	The following tables disaggregate revenues under ASC 606 by major product/service line for the three and six months ended June 30, 2023 and 2022, respectively: Three months ended June 30, 2023 (in thousands) Trade Renewables Nutrient & Industrial Total Specialty nutrients $ — $ — $ 98,335 $ 98,335 Primary nutrients — — 315,101 315,101 Products and co-products 114,289 368,646 — 482,935 Propane 30,155 — — 30,155 Other 14,782 1,804 32,157 48,743 Total $ 159,226 $ 370,450 $ 445,593 $ 975,269 Three months ended June 30, 2022 (in thousands) Trade Renewables Nutrient & Industrial Total Specialty nutrients $ — $ — $ 104,357 $ 104,357 Primary nutrients — — 336,487 336,487 Products and co-products 101,195 329,224 — 430,419 Propane 41,088 — — 41,088 Other 12,844 1,378 29,440 43,662 Total $ 155,127 $ 330,602 $ 470,284 $ 956,013 Six months ended June 30, 2023 (in thousands) Trade Renewables Nutrient & Industrial Total Specialty nutrients $ — $ — $ 168,332 $ 168,332 Primary nutrients — — 379,851 379,851 Products and co-products 203,256 763,255 — 966,511 Propane 106,678 — — 106,678 Other 27,372 4,152 61,351 92,875 Total $ 337,306 $ 767,407 $ 609,534 $ 1,714,247 Six months ended June 30, 2022 (in thousands) Trade Renewables Nutrient & Industrial Total Specialty nutrients $ — $ — $ 197,625 $ 197,625 Primary nutrients — — 426,369 426,369 Products and co-products 209,066 561,918 — 770,984 Propane 155,591 — — 155,591 Other 24,375 2,593 56,332 83,300 Total $ 389,032 $ 564,511 $ 680,326 $ 1,633,869

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income ("AOCI") attributable to the Company for the three and six months ended June 30, 2023 and 2022: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Currency Translation Adjustment Beginning balance $ (7,436) $ 5,729 $ (8,203) $ 5,631 Other comprehensive income (loss) before reclassifications 2,669 (5,679) 3,436 (5,581) Tax effect — — — — Other comprehensive income (loss), net of tax 2,669 (5,679) 3,436 (5,581) Ending balance $ (4,767) $ 50 $ (4,767) $ 50 Hedging Adjustment Beginning balance $ 18,750 $ 7,087 $ 23,546 $ (5,335) Other comprehensive income (loss) before reclassifications 11,511 7,910 7,209 22,833 Amounts reclassified from AOCI (a) (2,514) 1,013 (4,619) 2,631 Tax effect (2,262) (2,226) (651) (6,345) Other comprehensive income (loss), net of tax 6,735 6,697 1,939 19,119 Ending balance $ 25,485 $ 13,784 $ 25,485 $ 13,784 Pension and Other Postretirement Adjustment Beginning balance $ 4,695 $ 481 $ 4,883 $ 640 Other comprehensive income (loss) before reclassifications (15) 845 (29) 914 Amounts reclassified from AOCI (b) (228) (228) (456) (456) Tax effect 54 (100) 108 (100) Other comprehensive income (loss), net of tax (189) 517 (377) 358 Ending balance $ 4,506 $ 998 $ 4,506 $ 998 Investments in Convertible Preferred Securities Adjustment Beginning balance $ 258 $ 258 $ 258 $ 258 Other comprehensive income (loss), net of tax — — — — Ending balance $ 258 $ 258 $ 258 $ 258 Total AOCI Ending Balance $ 25,482 $ 15,090 $ 25,482 $ 15,090 (a) Amounts reclassified from gain (loss) on cash flow hedges are reclassified from AOCI to income when the hedged item affects earnings and is recognized in Interest expense, net. See Note 5 for additional information. (b) This accumulated other comprehensive loss component is included in the computation of net periodic benefit cost recorded in Operating, administrative and general expenses.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings per share	(in thousands, except per common share data) Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Numerator: Net income from continuing operations $ 82,686 $ 102,400 $ 23,569 $ 108,904 Net income (loss) attributable to noncontrolling interests (a) 27,640 21,856 (16,727) 22,303 Net income attributable to The Andersons, Inc. common shareholders from continuing operations $ 55,046 $ 80,544 $ 40,296 $ 86,601 Loss from discontinued operations, net of income taxes $ — $ (739) $ — $ (1,294) Denominator: Weighted average shares outstanding – basic 33,744 33,850 33,683 33,795 Effect of dilutive awards 421 566 510 621 Weighted average shares outstanding – diluted 34,165 34,416 34,193 34,416 Earnings (loss) per share attributable to The Andersons, Inc. common shareholders: Basic earnings (loss): Continuing operations $ 1.63 $ 2.38 $ 1.20 $ 2.56 Discontinued operations — (0.02) — (0.04) $ 1.63 $ 2.36 $ 1.20 $ 2.52 Diluted earnings (loss): Continuing operations $ 1.61 $ 2.34 $ 1.18 $ 2.52 Discontinued operations — (0.02) — (0.04) $ 1.61 $ 2.32 $ 1.18 $ 2.48 (a) All net income (loss) attributable to noncontrolling interests is within continuing operations of the Company.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2023, December 31, 2022 and June 30, 2022: (in thousands) June 30, 2023 Assets (liabilities) Level 1 Level 2 Level 3 Total Commodity derivatives, net (a) $ 69,833 $ 25,524 $ — $ 95,357 Provisionally priced contracts (b) (19,061) (16,529) — (35,590) Convertible preferred securities (c) — — 15,424 15,424 Other assets and liabilities (d) 5,018 33,988 — 39,006 Total $ 55,790 $ 42,983 $ 15,424 $ 114,197 (in thousands) December 31, 2022 Assets (liabilities) Level 1 Level 2 Level 3 Total Commodity derivatives, net (a) $ 54,516 $ 143,402 $ — $ 197,918 Provisionally priced contracts (b) (20,960) (115,377) — (136,337) Convertible preferred securities (c) — — 16,278 16,278 Other assets and liabilities (d) (209) 31,400 — 31,191 Total $ 33,347 $ 59,425 $ 16,278 $ 109,050 (in thousands) June 30, 2022 Assets (liabilities) Level 1 Level 2 Level 3 Total Commodity derivatives, net (a) $ 235,665 $ 218,819 $ — $ 454,484 Provisionally priced contracts (b) 38,061 (27,945) — 10,116 Convertible preferred securities (c) — — 16,803 16,803 Other assets and liabilities (d) 1,097 18,323 — 19,420 Total $ 274,823 $ 209,197 $ 16,803 $ 500,823 (a) Includes associated cash posted/received as collateral. (b) Included in "Provisionally priced contracts" are those instruments based only on underlying futures values (Level 1) and delayed price contracts (Level 2). (c) Recorded in “Other assets, net” on the Company’s Condensed Consolidated Balance Sheets related to certain available for sale securities. (d) Included in other assets and liabilities are assets held by the Company to fund deferred compensation plans and foreign exchange derivative contracts (Level 1), as well as interest rate derivatives (Level 2).
Beginning and ending balances for the Company's fair value measurements using Level 3 inputs	A reconciliation of beginning and ending balances for the Company’s fair value measurements using Level 3 inputs is as follows: Convertible Preferred Securities (in thousands) 2023 2022 Assets at January 1, $ 16,278 $ 11,618 Purchases of additional investments — 3,883 Gains included in Other income, net 802 404 Proceeds from investments (1,670) — Assets at March 31, $ 15,410 $ 15,905 Purchases of additional investments 235 772 Gains (losses) included in Other income, net (221) 126 Assets at June 30, $ 15,424 $ 16,803
Fair Value Inputs, Assets, Quantitative Information	The following tables summarize quantitative information about the Company's Level 3 fair value measurements as of June 30, 2023, December 31, 2022 and June 30, 2022: Quantitative Information about Recurring Level 3 Fair Value Measurements Fair Value as of (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Valuation Method Unobservable Input Weighted Average Convertible preferred securities (a) $ 15,424 $ 16,278 $ 16,803 Implied based on market prices N/A N/A (a) The Company considers observable price changes and other additional market data available to estimate fair value, including additional capital raising, internal valuation models, progress towards key business milestones, and other relevant market data points. Quantitative Information about Non-Recurring Level 3 Fair Value Measurements Fair Value as of (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Valuation Method Unobservable Input Weighted Average Grain Assets (a) $ — $ 9,000 $ — Third party appraisal Various N/A Equity method investment (b) $ — $ — $ 11,538 Discounted cash flow analysis Various N/A (a) The Company recognized impairment charges on a Nebraska grain asset. The fair value of the asset was determined using third-party appraisals. These measures are considered Level 3 inputs on a nonrecurring basis. (b) The Company recorded an other-than-temporary impairment charge on an existing equity method investment. The fair value of the investment was determined using a discounted cash flow analysis.

Related Parties (Tables)

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Schedule of related party transactions	The following table sets forth the related party transactions entered into for the time periods presented: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Sales of products $ 97,099 $ 103,106 $ 172,050 $ 189,255 Purchases of products 14,524 11,983 30,226 38,409 (in thousands) June 30, 2023 December 31, 2022 June 30, 2022 Accounts receivable $ 15,218 $ 12,272 $ 17,560 Accounts payable 2,503 7,070 3,060

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	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 June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Revenues from external customers Trade $ 2,696,810 $ 3,097,767 $ 5,574,590 $ 6,182,448 Renewables 877,781 882,567 1,717,297 1,565,798 Nutrient & Industrial 445,592 470,283 609,534 680,325 Total $ 4,020,183 $ 4,450,617 $ 7,901,421 $ 8,428,571 Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Income before income taxes from continuing operations Trade $ 4,990 $ 23,666 $ 44,354 $ 27,335 Renewables (a) 66,604 67,776 (15,909) 73,738 Nutrient & Industrial 42,565 38,311 32,127 49,054 Other (9,741) (11,600) (21,155) (21,367) Total $ 104,418 $ 118,153 $ 39,417 $ 128,760 (a) Includes income (loss) attributable to noncontrolling interests of $27.6 million and $21.9 million for the three months ended June 30, 2023 and 2022, respectively, and $(16.7) million and $22.3 million for the six months ended June 30, 2023 and 2022, respectively.

Other Income (Tables)

Other Income (Tables)	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income	The following table sets forth the items in Other income, net within the Condensed Consolidated Statements of Operations for the periods presented below: Three months ended June 30, Six months ended June 30, (in thousands) 2023 2022 2023 2022 Gain on deconsolidation of joint venture $ 6,544 $ — $ 6,544 $ — Property insurance recoveries 2,180 1,851 3,183 3,106 Interest income 1,708 819 3,175 1,293 Patronage income 78 936 2,094 2,399 Gain on sale of frac sand assets — 3,979 — 3,979 Biofuel Producer Program funds — 17,643 — 17,643 Equity earnings (losses) in affiliates (417) (6,034) (231) (6,278) Other 2,348 (2,402) 5,680 (1,432) Total $ 12,441 $ 16,792 $ 20,445 $ 20,710

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Inventory, Net [Abstract]
Grain and other agricultural products	$ 707,980	$ 1,326,531	$ 1,241,933
Frac sand and propane	19,564	21,084	19,483
Ethanol and co-products	142,978	156,341	179,175
Plant nutrients and cob products	120,267	227,769	177,735
Total inventories	990,789	1,731,725	1,618,326
Readily marketable inventory	$ 691,700	$ 1,308,800	$ 1,214,400

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Components of property, plant and equipment
Land	$ 31,838	$ 38,689	$ 38,630
Land improvements and leasehold improvements	81,470	92,084	91,542
Buildings and storage facilities	349,773	364,721	370,453
Machinery and equipment	891,368	980,159	949,142
Construction in progress	56,578	41,429	31,237
Property, plant and equipment, gross	1,411,027	1,517,082	1,481,004
Less: accumulated depreciation	747,586	754,353	717,561
Property, plant and equipment, net	$ 663,441	$ 762,729	$ 763,443

Property, Plant and Equipment_3

Property, Plant and Equipment (Textual) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 24,400	$ 27,500	$ 50,500	$ 55,800
Asset impairment	$ 0	$ 0	$ 87,156	$ 0
Asset impairment, noncontrolling interest percent			49%
Ethanol
Property, Plant and Equipment [Line Items]
Asset impairment			$ 87,200
Element LLC
Property, Plant and Equipment [Line Items]
Ownership percentage by parent	51%		51%

Debt - Schedule of Short-term a

Debt - Schedule of Short-term and Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Debt Instrument [Line Items]
Short-term debt	$ 102,752	$ 272,575	$ 1,161,428
Long-term debt
Current maturities of long-term debt	27,511	110,155	53,951
Total current maturities of long-term debt	27,511	110,155	53,951
Long-term debt, less current maturities	576,489	492,518	563,447
Total long-term debt, less: current maturities	576,489	492,518	563,447
Nonrecourse
Debt Instrument [Line Items]
Short-term debt	33,555	81,475	97,668
Long-term debt
Current maturities of long-term debt	62	63,815	7,707
Long-term debt, less current maturities	0	414	60,396
Recourse
Debt Instrument [Line Items]
Short-term debt	69,197	191,100	1,063,760
Long-term debt
Current maturities of long-term debt	27,449	46,340	46,244
Long-term debt, less current maturities	$ 576,489	$ 492,104	$ 503,051

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Apr. 03, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Payments of short-term debt	$ 0	$ 550,000,000
Current maturities of long-term debt	27,511,000	53,951,000		$ 110,155,000
ELEMENT Non-Recourse Debt | Nonrecourse
Line of Credit Facility [Line Items]
Current maturities of long-term debt	62,800,000
Estimate of Fair Value Measurement
Line of Credit Facility [Line Items]
Long-term debt, fair value	597,600,000	$ 617,500,000		$ 595,700,000
Line of credit
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	1,869,100,000
Total available for borrowings under lines of credit	$ 1,740,700,000
Term loan
Line of Credit Facility [Line Items]
Debt amount			$ 100,000,000

Derivatives (Textual) (Details)

Derivatives (Textual) (Details)	6 Months Ended
	Jun. 30, 2023
Derivative [Line Items]
Maximum period in which contracts for the sale of grain to processors or other consumers extend (years)	1 year

Derivatives (Net Asset or Liabi

Derivatives (Net Asset or Liability Positions in Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Estimated fair value of Company's commodity derivative instruments for cash collateral and associated cash as collateral
Cash collateral (received) paid	$ (15,290)	$ 64,530	$ 70,442
Fair value of derivatives	85,123	(10,014)	165,223
Net derivative asset position, net	$ 69,833	$ 54,516	$ 235,665

Derivatives (Gross Current and

Derivatives (Gross Current and Noncurrent Assets and Liabilities) (Details) - Commodity - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Derivatives, Fair Value [Line Items]
Commodity derivative assets	$ 468,557	$ 346,670	$ 752,967
Commodity derivative liabilities	(357,910)	(213,282)	(368,925)
Cash collateral (received) paid	(15,290)
Cash collateral (received) paid		64,530	70,442
Total	95,357	197,918	454,484
Commodity Derivative Assets - Current
Derivatives, Fair Value [Line Items]
Commodity derivative assets	438,227	325,762	707,542
Commodity derivative liabilities	(75,253)	(94,704)	(138,627)
Cash collateral (received) paid	(15,290)
Cash collateral (received) paid		64,530	69,442
Derivative assets	347,684	295,588	638,357
Commodity Derivative Assets - Noncurrent
Derivatives, Fair Value [Line Items]
Commodity derivative assets	3,959	1,796	14,257
Commodity derivative liabilities	(1,029)	(149)	(2,132)
Cash collateral (received) paid	0
Cash collateral (received) paid		0	0
Derivative assets	2,930	1,647	12,125
Commodity Derivative Liabilities - Current
Derivatives, Fair Value [Line Items]
Commodity derivative assets	26,312	18,426	29,223
Commodity derivative liabilities	(277,413)	(116,945)	(216,126)
Cash collateral (received) paid	0
Cash collateral (received) paid		0	1,000
Derivative Liability	(251,101)	(98,519)	(185,903)
Commodity Derivative Liabilities - Noncurrent
Derivatives, Fair Value [Line Items]
Commodity derivative assets	59	686	1,945
Commodity derivative liabilities	(4,215)	(1,484)	(12,040)
Cash collateral (received) paid	0
Cash collateral (received) paid		0	0
Derivative Liability	$ (4,156)	$ (798)	$ (10,095)

Derivatives (Pre-tax Gains and

Derivatives (Pre-tax Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives instruments recognized in earnings	$ 4,827	$ 230,188	$ (22,741)	$ 264,186
Designated as Hedging Instrument | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate derivative gains (losses) included in Other comprehensive income (loss)	8,996	8,923	2,590	25,464
Interest rate derivative gains (losses) included in Interest expense, net	$ 2,515	$ (1,013)	$ 4,619	$ (2,631)

Derivatives (Volume of Contract

Derivatives (Volume of Contracts Outstanding) (Details) gal in Thousands, bu in Thousands, T in Thousands	Jun. 30, 2023 bu	Jun. 30, 2023 gal	Jun. 30, 2023 T	Dec. 31, 2022 bu	Dec. 31, 2022 gal	Dec. 31, 2022 T	Jun. 30, 2022 bu	Jun. 30, 2022 gal	Jun. 30, 2022 T
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	1,130,484	381,468	3,866	1,090,085	365,484	3,629	1,251,576	347,073	4,131
Non-exchange Traded
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	865,282	242,070	3,473	761,493	223,482	3,048	888,278	226,155	3,771
Non-exchange Traded | Corn
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	547,805	0	0	567,405	0	0	628,471	0	0
Non-exchange Traded | Soybeans
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	42,273	0	0	56,608	0	0	116,679	0	0
Non-exchange Traded | Wheat
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	236,316	0	0	102,716	0	0	97,224	0	0
Non-exchange Traded | Oats
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	27,824	0	0	24,710	0	0	37,355	0	0
Non-exchange Traded | Ethanol
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	0	208,251	0	0	178,935	0	0	200,388	0
Non-exchange Traded | Dried distillers grain
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	0	0	479	0	0	449	0	0	318
Non-exchange Traded | Soybean meal
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	0	0	290	0	0	570	0	0	421
Non-exchange Traded | Other
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	11,064	33,819	2,704	10,054	44,547	2,029	8,549	25,767	3,032
Exchange Traded
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	265,202	139,398	393	328,592	142,002	581	363,298	120,918	360
Exchange Traded | Corn
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	177,425	0	0	170,280	0	0	219,020	0	0
Exchange Traded | Soybeans
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	27,555	0	0	46,380	0	0	69,115	0	0
Exchange Traded | Wheat
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	59,262	0	0	111,567	0	0	74,418	0	0
Exchange Traded | Oats
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	960	0	0	365	0	0	650	0	0
Exchange Traded | Ethanol
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	0	74,760	0	0	94,206	0	0	94,794	0
Exchange Traded | Propane
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	0	63,630	0	0	47,208	0	0	25,578	0
Exchange Traded | Other
Amounts of quantities outstanding included in commodity derivative contracts
Nonmonetary notional amount	0	1,008	393	0	588	581	95	546	360

Derivatives (Fair Value of the

Derivatives (Fair Value of the Company's Other Derivatives) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Not Designated as Hedging Instrument | Foreign currency contract
Derivative [Line Items]
Derivative liabilities		$ (3,124)
Derivative assets	$ 852		$ (1,749)
Designated as Hedging Instrument | Other current assets | Interest rate contracts
Derivative [Line Items]
Derivative assets	11,107,000	8,759	3,276
Designated as Hedging Instrument | Other Noncurrent Assets | Interest rate contracts
Derivative [Line Items]
Derivative assets	$ 22,881,000	$ 22,641	$ 15,047

Derivatives (Outstanding Intere

Derivatives (Outstanding Interest Rate Derivatives) (Details) - Long-term $ in Millions	Jun. 30, 2023 USD ($)
Not Accounted for as Hedge | Swap 0.0% to 0.8% | Minimum
Derivative [Line Items]
Interest rate	0%
Not Accounted for as Hedge | Swap 0.0% to 0.8% | Maximum
Derivative [Line Items]
Interest rate	0.80%
Not Accounted for as Hedge | Swap 0.0% to 0.8% | Minimum
Derivative [Line Items]
Interest rate	0%
Not Accounted for as Hedge | Swap 0.0% to 0.8% | Maximum
Derivative [Line Items]
Interest rate	0.80%
Accounted for as Hedge | Swap 2.3%
Derivative [Line Items]
Notional amount	$ 96.9
Interest rate	2.30%
Accounted for as Hedge | Swap 2.4%
Derivative [Line Items]
Notional amount	$ 48.4
Interest rate	2.40%
Accounted for as Hedge | Swap 2.4%
Derivative [Line Items]
Notional amount	$ 48.4
Interest rate	2.40%
Accounted for as Hedge | Swap 0.0% to 0.8%
Derivative [Line Items]
Notional amount	$ 50
Accounted for as Hedge | Swap 0.0% to 0.8%
Derivative [Line Items]
Notional amount	50
Accounted for as Hedge | Swap, 2.6%
Derivative [Line Items]
Notional amount	$ 20
Interest rate	2.60%
Accounted for as Hedge | Swap 2.0%
Derivative [Line Items]
Notional amount	$ 100
Interest rate	2%
Accounted for as Hedge | Swap 2.4%
Derivative [Line Items]
Notional amount	$ 50
Interest rate	2.40%
Accounted for as Hedge | Swap 3.7%
Derivative [Line Items]
Notional amount	$ 50
Interest rate	3.70%
Accounted for as Hedge | Swap 3.7%
Derivative [Line Items]
Notional amount	$ 50
Interest rate	3.70%
Accounted for as Hedge | Swap 2.9%
Derivative [Line Items]
Notional amount	$ 50
Interest rate	2.90%

Revenue (Breakdown of Revenues

Revenue (Breakdown of Revenues by Accounting Standards) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 975,269	$ 956,013	$ 1,714,247	$ 1,633,869
Total revenues	4,020,183	4,450,617	7,901,421	8,428,571
Revenues under ASC 606
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	975,269	956,013	1,714,247	1,633,869
Revenues under ASC 815
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,044,914	$ 3,494,604	$ 6,187,174	$ 6,794,702

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total	$ 975,269	$ 956,013	$ 1,714,247	$ 1,633,869
Specialty nutrients
Disaggregation of Revenue [Line Items]
Total	98,335	104,357	168,332	197,625
Primary nutrients
Disaggregation of Revenue [Line Items]
Total	315,101	336,487	379,851	426,369
Products and co-products
Disaggregation of Revenue [Line Items]
Total	482,935	430,419	966,511	770,984
Propane
Disaggregation of Revenue [Line Items]
Total	30,155	41,088	106,678	155,591
Other
Disaggregation of Revenue [Line Items]
Total	48,743	43,662	92,875	83,300
Trade
Disaggregation of Revenue [Line Items]
Total	159,226	155,127	337,306	389,032
Trade | Specialty nutrients
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Trade | Primary nutrients
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Trade | Products and co-products
Disaggregation of Revenue [Line Items]
Total	114,289	101,195	203,256	209,066
Trade | Propane
Disaggregation of Revenue [Line Items]
Total	30,155	41,088	106,678	155,591
Trade | Other
Disaggregation of Revenue [Line Items]
Total	14,782	12,844	27,372	24,375
Ethanol
Disaggregation of Revenue [Line Items]
Total	370,450	330,602	767,407	564,511
Ethanol | Specialty nutrients
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Ethanol | Primary nutrients
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Ethanol | Products and co-products
Disaggregation of Revenue [Line Items]
Total	368,646	329,224	763,255	561,918
Ethanol | Propane
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Ethanol | Other
Disaggregation of Revenue [Line Items]
Total	1,804	1,378	4,152	2,593
Nutrient & Industrial
Disaggregation of Revenue [Line Items]
Total	445,593	470,284	609,534	680,326
Nutrient & Industrial | Specialty nutrients
Disaggregation of Revenue [Line Items]
Total	98,335	104,357	168,332	197,625
Nutrient & Industrial | Primary nutrients
Disaggregation of Revenue [Line Items]
Total	315,101	336,487	379,851	426,369
Nutrient & Industrial | Products and co-products
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Nutrient & Industrial | Propane
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Nutrient & Industrial | Other
Disaggregation of Revenue [Line Items]
Total	$ 32,157	$ 29,440	$ 61,351	$ 56,332

Revenue (Textual) (Details)

Revenue (Textual) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract Liabilities	$ 15.9	$ 55.4

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Apr. 18, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Noncontrolling Interest [Line Items]
Income tax (benefit) expense		$ 21,732	$ 15,753	$ 15,848	$ 19,856
Effective income tax rate		(20.80%)	(13.30%)	(40.20%)	15.40%
Income (loss) before income taxes		$ 104,418	$ 118,153	$ 39,417	$ 128,760
Tax expense, deconsolidation gain		1,400
ELEMENT Deconsolidation Gain	$ 6,500	6,544	$ 0	6,544	$ 0
Tax benefit, impairment charge				10,600
Element LLC
Noncontrolling Interest [Line Items]
ELEMENT Deconsolidation Gain		$ 6,500
Loss attributable to noncontrolling interest, before taxes				$ 88,800

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 1,346,412	$ 1,317,221	$ 1,429,769	$ 1,307,704
Other comprehensive income	9,215	1,535	4,998	13,896
Ending Balance	1,438,482	1,417,206	1,438,482	1,417,206
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	16,267	13,555	20,484	1,194
Ending Balance	25,482	15,090	25,482	15,090
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(7,436)	5,729	(8,203)	5,631
Other comprehensive income (loss) before reclassifications	2,669	(5,679)	3,436	(5,581)
Other Comprehensive Income (Loss), Tax	0	0	0	0
Other comprehensive income	2,669	(5,679)	3,436	(5,581)
Ending Balance	(4,767)	50	(4,767)	50
Hedging Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	18,750	7,087	23,546	(5,335)
Other comprehensive income (loss) before reclassifications	11,511	7,910	7,209	22,833
Amounts reclassified from accumulated other comprehensive income (loss)	(2,514)	1,013	(4,619)	2,631
Other Comprehensive Income (Loss), Tax	(2,262)	(2,226)	(651)	(6,345)
Other comprehensive income	6,735	6,697	1,939	19,119
Ending Balance	25,485	13,784	25,485	13,784
Pension and Other Postretirement Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	4,695	481	4,883	640
Other comprehensive income (loss) before reclassifications	(15)	845	(29)	914
Amounts reclassified from accumulated other comprehensive income (loss)	(228)	(228)	(456)	(456)
Other Comprehensive Income (Loss), Tax	54	(100)	108	(100)
Other comprehensive income	(189)	517	(377)	358
Ending Balance	4,506	998	4,506	998
Investments in Convertible Preferred Securities Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	258	258	258	258
Other comprehensive income	0	0	0	0
Ending Balance	$ 258	$ 258	$ 258	$ 258

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income from continuing operations	$ 82,686	$ 102,400	$ 23,569	$ 108,904
Net income (loss) attributable to noncontrolling interests	27,640	21,856	(16,727)	22,303
Net income attributable to The Andersons, Inc.	55,046	80,544	40,296	86,601
Loss from discontinued operations, net of income taxes	$ 0	$ (739)	$ 0	$ (1,294)
Denominator:
Weighted average shares outstanding - basic (shares)	33,744	33,850	33,683	33,795
Effect of dilutive awards (shares)	421	566	510	621
Weighted average shares outstanding - diluted (shares)	34,165	34,416	34,193	34,416
Basic earnings (loss):
Continuing operations (in dollars per share)	$ 1.63	$ 2.38	$ 1.20	$ 2.56
Discontinued operations (in dollars per share)	0	(0.02)	0	(0.04)
Earnings per common share - basic (dollars per share)	1.63	2.36	1.20	2.52
Diluted earnings (loss):
Continuing operations (in dollars per share)	1.61	2.34	1.18	2.52
Discontinued operations (in dollars per share)	0	(0.02)	0	(0.04)
Earnings per common share - diluted (dollars per share)	$ 1.61	$ 2.32	$ 1.18	$ 2.48

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured on Recurring Basis) (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Assets and liabilities measured at fair value on a recurring basis
Commodity derivatives, net	$ 95,357	$ 197,918	$ 454,484
Provisionally priced contracts	(35,590)	(136,337)	10,116
Convertible preferred securities	15,424	16,278	16,803
Other assets and liabilities	39,006	31,191	19,420
Total	114,197	109,050	500,823
Level 1
Assets and liabilities measured at fair value on a recurring basis
Commodity derivatives, net	69,833	54,516	235,665
Provisionally priced contracts	(19,061)	(20,960)	38,061
Convertible preferred securities	0	0	0
Other assets and liabilities	5,018	(209)	1,097
Total	55,790	33,347	274,823
Level 2
Assets and liabilities measured at fair value on a recurring basis
Commodity derivatives, net	25,524	143,402	218,819
Provisionally priced contracts	(16,529)	(115,377)	(27,945)
Convertible preferred securities	0	0	0
Other assets and liabilities	33,988	31,400	18,323
Total	42,983	59,425	209,197
Level 3
Assets and liabilities measured at fair value on a recurring basis
Commodity derivatives, net	0	0	0
Provisionally priced contracts	0	0	0
Convertible preferred securities	15,424	16,278	16,803
Other assets and liabilities	0	0	0
Total	$ 15,424	$ 16,278	$ 16,803

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation of Beginning and Ending Balances of Level 3 Measurements) (Details) - Level 3 - Convertible preferred securities - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Reconciliation of Fair Value Measurements Using Level 3
Asset, beginning balance	$ 16,278	$ 11,618	$ 16,278	$ 11,618
Purchases of additional investments	235	772	0	3,883
Gains included in Other income, net	(221)	126	802	404
Proceeds from investments			(1,670)	0
Asset, ending balance	$ 15,424	$ 16,803	$ 15,410	$ 15,905

Fair Value Measurements (Quanti

Fair Value Measurements (Quantitative Information Level 3 Measurements ) (Details) - Level 3 - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Convertible preferred securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset fair value	$ 15,410	$ 15,424	$ 16,278	$ 15,905	$ 16,803	$ 11,618
Implied based on market prices | Convertible preferred securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset fair value	15,424		16,278	16,803
Third party appraisal | Grain Assets | Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset fair value	0		9,000	0
Third party appraisal | Equity method investments | Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset fair value	$ 0		$ 0	$ 11,538

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Revenues from external customers	$ 4,020,183	$ 4,450,617	$ 7,901,421	$ 8,428,571
Purchases of product	14,524	11,983	30,226	38,409
Accounts receivable, net	1,030,271	1,141,167	1,030,271	1,141,167	$ 1,248,878
Related Party
Related Party Transaction [Line Items]
Revenues from external customers	97,099	103,106	172,050	189,255
Accounts receivable, net	15,218	17,560	15,218	17,560	12,272
Accounts payable	$ 2,503	$ 3,060	$ 2,503	$ 3,060	$ 7,070

Segment Information (Textual) (

Segment Information (Textual) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments (business segments) | segment			3
Net income (loss) attributable to noncontrolling interests | $	$ 27,640	$ 21,856	$ (16,727)	$ 22,303

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues from external customers	$ 4,020,183	$ 4,450,617	$ 7,901,421	$ 8,428,571
Total	104,418	118,153	39,417	128,760
Net income (loss) attributable to noncontrolling interests	27,640	21,856	(16,727)	22,303
Operating Segments | Trade
Segment Reporting Information [Line Items]
Revenues from external customers	2,696,810	3,097,767	5,574,590	6,182,448
Total	4,990	23,666	44,354	27,335
Operating Segments | Renewables
Segment Reporting Information [Line Items]
Revenues from external customers	877,781	882,567	1,717,297	1,565,798
Total	66,604	67,776	(15,909)	73,738
Net income (loss) attributable to noncontrolling interests	27,600	21,900	(16,700)	22,300
Operating Segments | Nutrient & Industrial
Segment Reporting Information [Line Items]
Revenues from external customers	445,592	470,283	609,534	680,325
Total	42,565	38,311	32,127	49,054
Other
Segment Reporting Information [Line Items]
Total	$ (9,741)	$ (11,600)	$ (21,155)	$ (21,367)

Other Income - Schedule of Othe

Other Income - Schedule of Other Nonoperating Income (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Apr. 18, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Subsidiary or Equity Method Investee [Line Items]
ELEMENT Deconsolidation Gain	$ 6,500	$ 6,544	$ 0	$ 6,544	$ 0
Property insurance recoveries		2,180	1,851	3,183	3,106
Interest income		1,708	819	3,175	1,293
Patronage income		78	936	2,094	2,399
Gain on sale of frac sand assets				(679)	10,305
Biofuel Producer Program funds		0	17,643	0	17,643
Equity earnings (losses) in affiliates		(417)	(6,034)	(231)	(6,278)
Other		2,348	(2,402)	5,680	(1,432)
Total		12,441	16,792	20,445	20,710
Frac sand assets
Subsidiary or Equity Method Investee [Line Items]
Gain on sale of frac sand assets		$ 0	$ 3,979	$ 0	$ 3,979

Other Income - Narrative (Detai

Other Income - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Loss Contingencies [Line Items]
Property insurance recoveries	$ 2,180	$ 1,851	$ 3,183	$ 3,106
Interest income, money market deposits			1,000
Interest income, inventory financing program			1,100
Gain on sale of frac sand assets			(679)	10,305
Biofuel Producer Program funds	0	17,643	0	17,643
Equity method investment, impairment charge				4,500
Parent
Loss Contingencies [Line Items]
Biofuel Producer Program funds				8,900
Noncontrolling Interests
Loss Contingencies [Line Items]
Biofuel Producer Program funds				8,700
Frac sand assets
Loss Contingencies [Line Items]
Gain on sale of frac sand assets	$ 0	$ 3,979	0	3,979
Conveyor Collapse, Delhi, Louisiana
Loss Contingencies [Line Items]
Property insurance recoveries			$ 2,200
Property Damage, Galena Park, Texas
Loss Contingencies [Line Items]
Property insurance recoveries				3,000
TAMH
Loss Contingencies [Line Items]
Biofuel Producer Program funds				13,300
Element LLC
Loss Contingencies [Line Items]
Biofuel Producer Program funds				$ 4,300

ELEMENT (Details)

ELEMENT (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Apr. 18, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Asset impairment		$ 0	$ 0	$ 87,156	$ 0
Deconsolidation, gain on revaluation of retained investment	$ 18,100
Accounts receivable, net		1,030,271	1,141,167	1,030,271	1,141,167	$ 1,248,878
ELEMENT Deconsolidation Gain	6,500	6,544	0	6,544	0
Related Party
Schedule of Equity Method Investments [Line Items]
Accounts receivable, net		$ 15,218	$ 17,560	15,218	$ 17,560	$ 12,272
Related Party | Element LLC
Schedule of Equity Method Investments [Line Items]
Loss on receivables	11,600
Related Party | Element LLC | Raw Material And Fees Receivable
Schedule of Equity Method Investments [Line Items]
Accounts receivable, net	9,600
Related Party | Element LLC | Loans And Interest Due
Schedule of Equity Method Investments [Line Items]
Accounts receivable, net	$ 2,000
Ethanol
Schedule of Equity Method Investments [Line Items]
Asset impairment				$ 87,200
Element LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage by parent		51%		51%
ELEMENT Deconsolidation Gain		$ 6,500
Element LLC | ICM Holdings, In
Schedule of Equity Method Investments [Line Items]
Ownership percentage by noncontrolling owners		49%		49%

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - ACJ International LLC $ in Millions	Jul. 10, 2023 USD ($)
Subsequent Event [Line Items]
Consideration for acquisition	$ 41.4
Consideration for acquisition, cash	$ 24.4
Consideration payable, period	3 years