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GPRE Green Plains

Document And Entity Information

Document And Entity Information - shares3 Months Ended
Mar. 31, 2021Apr. 29, 2021
Document And Entity Information [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Transition Reportfalse
Document Period End DateMar. 31,
2021
Document Fiscal Period FocusQ1
Document Fiscal Year Focus2021
Entity File Number001-32924
Entity Registrant NameGreen Plains Inc.
Entity Central Index Key0001309402
Entity Incorporation, State or Country CodeIA
Entity Tax Identification Number84-1652107
Current Fiscal Year End Date--12-31
Entity Common Stock, Shares Outstanding44,626,860
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Title of 12(b) SecurityCommon Stock, par value $0.001 per share
Trading SymbolGPRE
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryAccelerated Filer
Amendment Flagfalse
Entity Address, Address Line One1811 Aksarben Drive
Entity Address, City or TownOmaha
Entity Address, State or ProvinceNE
Entity Address, Postal Zip Code68106
City Area Code402
Local Phone Number884-8700
Entity Shell Companyfalse

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Current assets
Cash and cash equivalents $ 446,833 $ 233,860
Restricted cash207,593 40,950
Accounts receivable, net of allowances of $198 and $143, respectively62,519 55,568
Income taxes receivable483 661
Inventories258,759 269,491
Prepaid expenses and other14,988 16,531
Derivative financial instruments19,365 25,292
Total current assets1,010,540 642,353
Property and equipment, net of accumulated depreciation and amortization of $523,375 and $530,194, respectively799,546 801,690
Operating lease right-of-use assets64,597 61,883
Other assets69,943 72,991
Total assets[1]1,944,626 1,578,917
Current liabilities
Accounts payable92,972 140,058
Accrued and other liabilities36,236 38,471
Derivative financial instruments41,098 20,265
Operating lease current liabilities15,627 14,902
Short-term notes payable and other borrowings174,104 140,808
Current maturities of long-term debt61,442 98,052
Total current liabilities421,479 452,556
Long-term debt537,880 287,299
Operating lease long-term liabilities51,682 49,549
Other liabilities13,056 12,849
Total liabilities1,024,097 802,253
Commitments and contingencies (Note 13)
Stockholders’ equity
Common stock, $0.001 par value; 75,000,000 shares authorized; 56,452,866 and 47,470,505 shares issued, and 44,639,705 and 35,657,344 shares outstanding, respectively56 47
Additional paid-in capital882,949 740,889
Retained earnings44,248 39,375
Accumulated other comprehensive loss(8,398)(2,172)
Treasury stock, 11,813,161 shares(131,287)(131,287)
Total Green Plains stockholders’ equity787,568 646,852
Noncontrolling interests132,961 129,812
Total stockholders’ equity920,529 776,664
Total liabilities and stockholders’ equity $ 1,944,626 $ 1,578,917
[1]Asset balances by segment exclude intercompany balances .

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Consolidated Balance Sheets [Abstract]
Accounts receivable, allowances $ 198 $ 143
Property, and equipment, accumulated depreciation and amortization $ 523,375 $ 530,194
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized75,000,000 75,000,000
Common stock, shares issued56,452,866 47,470,505
Common stock, shares outstanding44,639,705 35,657,344
Treasury stock, shares11,813,161 11,813,161

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Revenues
Revenues $ 553,640 $ 632,869
Costs and expenses
Cost of goods sold (excluding depreciation and amortization expenses reflected below)509,233 617,228
Operations and maintenance expenses5,754 6,160
Selling, general and administrative expenses23,518 21,638
Gain on sale of assets, net(36,893)
Goodwill impairment24,091
Depreciation and amortization expenses20,681 18,080
Total costs and expenses522,293 687,197
Operating income (loss)31,347 (54,328)
Other income (expense)
Interest income30 593
Interest expense(31,679)(9,697)
Other, net10 836
Total other expense(31,639)(8,268)
Loss before income taxes and income from equity method investees(292)(62,596)
Income tax benefit (expense)(1,862)44,283
Income from equity method investees, net of income taxes175 7,966
Net loss(1,979)(10,347)
Net income attributable to noncontrolling interests4,566 6,098
Net loss attributable to Green Plains $ (6,545) $ (16,445)
Earnings (loss) per share - basic and diluted
Net loss attributable to Green Plains - basis and diluted $ (0.17) $ (0.47)
Weighted average shares outstanding:
Basic and diluted37,695 34,665
Product [Member]
Revenues
Revenues $ 551,980 $ 631,581
Service [Member]
Revenues
Revenues $ 1,660 $ 1,288

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Consolidated Statements Of Comprehensive Income [Abstract]
Net loss $ (1,979) $ (10,347)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on derivatives arising during the period, net of tax benefit (expense) of $1,527 and ($1,447), respectively(4,849)4,532
Reclassification of realized gains on derivatives, net of tax expense of $434 and $1,432, respectively(1,377)(4,485)
Other comprehensive income (loss), net of tax(6,226)47
Share of equity method investees other comprehensive income (loss) arising during the period, net of tax benefit (expense) of $0 and ($13,359), respectively41,956
Total other comprehensive income (loss), net of tax(6,226)42,003
Comprehensive income (loss)(8,205)31,656
Comprehensive income attributable to noncontrolling interests4,566 6,098
Comprehensive income (loss) attributable to Green Plains $ (12,771) $ 25,558

Consolidated Statements Of Co_2

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Consolidated Statements Of Comprehensive Income [Abstract]
Unrealized gains (losses) on derivatives arising during period, tax benefit (expense) $ 1,527 $ (1,447)
Reclassification of realized losses (gains) on derivatives, tax expense (benefit)434 1,432
Share of equity method investees other comprehensive income arising during the period, tax expense (benefit) $ 0 $ (13,359)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cash flows from operating activities:
Net loss $ (1,979) $ (10,347)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization20,681 18,080
Amortization of debt issuance costs and debt discount2,672 5,099
Gain on sale of assets, net(36,303)
Loss on extinguishment of convertible notes22,100
Goodwill impairment24,091
Deferred income taxes1,960 (23,895)
Stock-based compensation882 1,324
Income from equity method investees, net of income taxes(175)(7,966)
Distribution from equity method investees, net of income taxes3,247
Other(82)6
Changes in operating assets and liabilities before effects of business combinations and dispositions:
Accounts receivable(6,874)72,684
Inventories332 38,626
Derivative financial instruments18,574 (32,290)
Prepaid expenses and other assets917 1,135
Accounts payable and accrued liabilities(62,032)(58,652)
Current income taxes177 (13,251)
Other2,169 (114)
Net cash provided by (used in) operating activities(36,981)17,777
Cash flows from investing activities:
Purchases of property and equipment, net(31,524)(38,792)
Proceeds from the sale of assets, net73,846
Other investing activities(1,098)
Net cash provided by (used in) investing activities42,322 (39,890)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt355,000
Payments of principal on long-term debt(135,835)(21)
Proceeds from short-term borrowings686,486 820,264
Payments on short-term borrowings(691,166)(844,316)
Payments on extinguishment of convertible debt(20,861)
Payments for repurchase of common stock(11,479)
Payments of cash distributions(1,395)(5,498)
Proceeds from issuance of common stock, net191,134
Payments of loan fees(8,614)
Payments related to tax withholdings for stock-based compensation(3,804)(1,209)
Other financing activities3,330
Net cash provided by (used in) financing activities374,275 (42,259)
Net change in cash, cash equivalents and restricted cash379,616 (64,372)
Cash, cash equivalents and restricted cash, beginning of period274,810 269,896
Cash, cash equivalents and restricted cash, end of period654,426 205,524
Reconciliation of total cash, cash equivalents and restricted cash:
Total cash, cash equivalents and restricted cash654,426 205,524
Supplemental investing activities:
Assets disposed of in sale35,317
Less: liabilities relinquished(415)
Net assets disposed34,902
Supplemental disclosures of cash flow:
Cash refunded for income taxes(106)(4,663)
Cash paid for interest8,688 $ 8,683
Cash premium paid for extinguishment of convertible notes $ 20,861

Basis Of Presentation, Descript

Basis Of Presentation, Description Of Business And Summary Of Significant Accounting Policies3 Months Ended
Mar. 31, 2021
Basis Of Presentation, Description Of Business And Summary Of Significant Accounting Policies [Abstract]
Basis Of Presentation, Description Of Business And Summary Of Significant Accounting Policies1. BASIS OF PRESENTATION, DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES References to the Company References to “Green Plains” or the “company” in the consolidated financial statements and in these notes to the consolidated financial statements refer to Green Plains Inc., an Iowa corporation, and its subsidiaries. Consolidated Financial Statements The consolidated financial statements include the company’s accounts and all significant intercompany balances and transactions are eliminated. Unconsolidated entities are included in the financial statements on an equity basis. T he company owns a 48.9 % limited partner interest and a 2.0 % general partner interest in Green Plains Partners LP. Public investors own the remaining 49.1 % limited partner interest in the partnership. The company determined that the limited partners in the partnership with equity at risk lack the power, through voting rights or similar rights, to direct the activities that most significantly impact partnership’s economic performance; therefore, the partnership is considered a variable interest entity. The company, through its ownership of the general partner interest in the partnership, has the power to direct the activities that most significantly affect economic performance and is obligated to absorb losses and has the right to receive benefits that could be significant to the partnership. Therefore, the company is considered the primary beneficiary and consolidates the partnership in the company’s financial statements. The assets of the partnership cannot be used by the company for general corporate purposes. The partnership’s consolidated total assets as of March 31, 2021 and December 31, 2020, excluding intercompany balances, are $ 91.3 million and $ 91.2 million, respectively, and primarily consist of property and equipment, operating lease right-of-use assets and goodwill . The partnership’s consolidated total liabilities as of March 31, 2021 and December 31, 2020, excluding intercompany balances, are $ 116.0 million and $ 151.2 million, respectively, which primarily consist of current maturities of long-term debt as discussed in Note 8 – Debt and operating lease liabilities. The liabilities recognized as a result of consolidating the partnership do not represent additional claims on our general assets. The company also owns a majority interest in BioProcess Algae, a joint venture formed in 2008 as well as a majority interest in Fluid Quip Technologies, LLC with their results being consolidated in our consolidated financial statements. The accompanying unaudited consolidated financial statements are prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Because they do not include all of the information and notes required by GAAP, the consolidated financial statements should be read in conjunction with the company’s annual report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 16, 2021. The unaudited financial information reflects adjustments, which are, in the opinion of management, necessary for a fair presentation of results of operations, financial position and cash flows for the periods presented. The adjustments are normal and recurring in nature, unless otherwise noted. Interim period results are not necessarily indicative of the results to be expected for the entire year. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications did not affect total revenues, costs and expenses or net income. See Note 8 – Debt and Note 11 – Stockholders’ Equity for further details. Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The company bases its estimates on historical experience and assumptions it believes are proper and reasonable under the circumstances and regularly evaluates the appropriateness of its estimates and assumptions. Actual results could differ from those estimates. Key accounting policies, including but not limited to those relating to revenue recognition, carrying value of intangible assets, operating leases, impairment of long-lived assets and goodwill, derivative financial instruments, accounting for income taxes and assets acquired and liabilities assumed in acquisitions, are impacted significantly by judgments, assumptions and estimates used in the preparation of the consolidated financial statements. Description of Business The company operates within four business segments: (1) ethanol production, which includes the production of ethanol, including industrial-grade alcohol, distillers grains, Ultra-High Protein and corn oil, (2) agribusiness and energy services, which includes grain handling and storage, commodity marketing and merchant trading for company-produced and third-party ethanol, distillers grains, corn oil, natural gas and other commodities, (3) food and ingredients, which includes food-grade corn oil and (4) partnership, which includes fuel storage and transportation services. The food and ingredients segment, had no activity during the three months ended March 31, 2021 and 2020. Cash and Cash Equivalents Cash and cash equivalents includes bank deposits as well as short-term, highly liquid investments with original maturities of three months or less. Restricted Cash The company has restricted cash, which can only be used for funding letters of credit, for payment towards a revolving credit agreement, or for capital expenditures as specified in certain credit facility agreements. Restricted cash also includes cash margins and securities pledged to commodity exchange clearinghouses and at times, funds in escrow related to acquisition and disposition activities. To the degree these segregated balances are cash and cash equivalents, they are considered restricted cash on the consolidated balance sheets. Revenue Recognition The company recognizes revenue when obligations under the terms of a contract with a customer are satisfied. Generally this occurs with the transfer of control of products or services. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods or providing services. Sales, value add, and other taxes the company collects concurrent with revenue-producing activities are excluded from revenue. Sales of ethanol, distillers grains, corn oil, natural gas and other commodities by the company’s marketing business are recognized when obligations under the terms of a contract with a customer are satisfied. Generally, this occurs with the transfer of control of products or services. Revenues related to marketing for third parties are presented on a gross basis as the company controls the product prior to the sale to the end customer, takes title of the product and has inventory risk. Unearned revenue is recorded for goods in transit when the company has received payment but control has not yet been transferred to the customer. Revenues for receiving, storing, transferring and transporting ethanol and other fuels are recognized when the product is delivered to the customer. The company routinely enters into physical-delivery energy commodity purchase and sale agreements. At times, the company settles these transactions by transferring its obligations to other counterparties rather than delivering the physical commodity. Energy trading transactions are reported net as a component of revenue. Revenues include net gains or losses from derivatives related to products sold while cost of goods sold includes net gains or losses from derivatives related to commodities purchased. Revenues also include realized gains and losses on related derivative financial instruments and reclassifications of realized gains and losses on cash flow hedges from accumulated other comprehensive income or loss. Sales of products, including agricultural commodities, are recognized when control of the product is transferred to the customer, which depends on the agreed upon shipment or delivery terms. Revenues related to grain merchandising are presented gross and include shipping and handling, which is also a component of cost of goods sold. Revenues from grain storage are recognized over time as the services are rendered. Revenues related to the design, engineering and installation of equipment are recognized over the term of the related contracts as equipment is delivered and installed and services are performed. A substantial portion of the partnership revenues are derived from fixed-fee commercial agreements for storage, terminal or transportation services. The partnership recognizes revenue upon transfer of control of product from its storage tanks and fuel terminals, when railcar volumetric capacity is provided, and as truck transportation services are performed. To the extent shortfalls associated with minimum volume commitments in the previous four quarters continue to exist, volumes in excess of the minimum volume commitment are applied to those shortfalls. Remaining excess volumes generating operating lease revenue are recognized as incurred. Shipping and Handling Costs The company accounts for shipping and handling activities related to contracts with customers as costs to fulfill its promise to transfer the associated products. Accordingly, the company records customer payments associated with shipping and handling costs as a component of revenue, and classifies such costs as a component of cost of goods sold. Cost of Goods Sold Cost of goods sold includes direct labor, materials, shipping and plant overhead costs. Direct labor includes all compensation and related benefits of non-management personnel involved in ethanol production. Grain purchasing and receiving costs, excluding labor costs for grain buyers and scale operators, are also included in cost of goods sold. Materials include the cost of corn feedstock, denaturant, and process chemicals. Corn feedstock costs include gains and losses on related derivative financial instruments not designated as cash flow hedges, inbound freight charges, inspection costs and transfer costs, as well as reclassifications of gains and losses on cash flow hedges from accumulated other comprehensive income or loss. Plant overhead consists primarily of plant utilities, repairs and maintenance and outbound freight charges. Shipping costs incurred by the company, including railcar costs, are also reflected in cost of goods sold. The company uses exchange-traded futures and options contracts and forward purchase and sale contracts to attempt to minimize the effect of price changes on ethanol, grain and natural gas. Exchange-traded futures and options contracts are valued at quoted market prices and settled predominantly in cash. The company is exposed to loss when counterparties default on forward purchase and sale contracts. Grain inventories held for sale and forward purchase and sale contracts are valued at market prices when available or other market quotes adjusted for basis differences, primarily in transportation, between the exchange-traded market and local market where the terms of the contract is based. Changes in forward purchase contracts and exchange-traded futures and options contracts are recognized as a component of cost of goods sold. Operations and Maintenance Expenses In the partnership segment, transportation expenses represent the primary component of operations and maintenance expenses. Transportation expenses include railcar leases, freight and shipping of the company’s ethanol and co-products, as well as costs incurred storing ethanol at destination terminals. Derivative Financial Instruments The company uses various derivative financial instruments, including exchange-traded futures and exchange-traded and over-the-counter options contracts, to attempt to minimize risk and the effect of commodity price changes including but not limited to, corn, ethanol, natural gas, soybean meal and soybean oil. The company monitors and manages this exposure as part of its overall risk management policy to reduce the adverse effect market volatility may have on its operating results. The company may hedge these commodities as one way to mitigate risk; however, there may be situations when these hedging activities themselves result in losses. By using derivatives to hedge exposures to changes in commodity prices, the company is exposed to credit and market risk. The company’s exposure to credit risk includes the counterparty’s failure to fulfill its performance obligations under the terms of the derivative contract. The company minimizes its credit risk by entering into transactions with high quality counterparties, limiting the amount of financial exposure it has with each counterparty and monitoring their financial condition. Market risk is the risk that the value of the financial instrument might be adversely affected by a change in commodity prices or interest rates. The company manages market risk by incorporating parameters to monitor exposure within its risk management strategy, which limits the types of derivative instruments and strategies the company can use and the degree of market risk it can take using derivative instruments. The company evaluates its physical delivery contracts to determine if they qualify for normal purchase or sale exemptions which are expected to be used or sold over a reasonable period in the normal course of business. Contracts that do not meet the normal purchase or sale criteria are recorded at fair value. Changes in fair value are recorded in operating income unless the contracts qualify for, and the company elects, cash flow hedge accounting treatment. Certain qualifying derivatives related to ethanol production and agribusiness and energy services are designated as cash flow hedges. The company evaluates the derivative instrument to ascertain its effectiveness prior to entering into cash flow hedges. Unrealized gains and losses are reflected in accumulated other comprehensive income or loss until the gain or loss from the underlying hedged transaction is realized and the physical transaction is completed. When it becomes probable a forecasted transaction will not occur, the cash flow hedge treatment is discontinued, which affects earnings. These derivative financial instruments are recognized in current assets or current liabilities at fair value. At times, the company hedges its exposure to changes in inventory values and designates qualifying derivatives as fair value hedges. The carrying amount of the hedged inventory is adjusted in the current period for changes in fair value. Estimated fair values carried at market are based on exchange-quoted prices, adjusted as appropriate for regional location basis values which represent differences in local markets including transportation as well as quality or grade differences. Basis values are generally determined using inputs from broker quotations or other market transactions. However a portion of the value may be derived using unobservable inputs. Ineffectiveness of the hedges is recognized in the current period to the extent the change in fair value of the inventory is not offset by the change in fair value of the derivative. Recent Accounting Pronouncements On January 1, 2021, the company early adopted the amended guidance in ASC 470-20 , Debt - Debt with Conversion and Other Options and ASC 815-40, Derivatives and Hedging - Contracts in Entity’s Own Equity - Accounting for Convertible Instruments and Contracts in an Equity’s Own Equity. The adoption of this guidance resulted in a $ 49.5 million decrease in additional paid-in capital, an $ 11.4 million increase in retained earnings and a $ 38.1 million increase in long-term debt, which included a $ 39.4 million increase in debt principal offset by a $ 1.3 million increase in debt issuance costs, resulting from amounts previously bifurcated to equity being reclassified to debt. See Note 8 – Debt and Note 11 – Stockholders’ Equity for further details. In March 2020, the FASB issued amended guidance in ASC 848, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, and a subsequent update in January 2021, which provides optional expedients and exceptions to U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the LIBOR and other interbank offered rates to alternative reference rates. The expedients and exceptions provided by the amended guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The guidance is effective upon issuance and to be applied prospectively from any date beginning March 12, 2020 through December 31, 2022. The amended guidance is not expected to have a material impact on the company’s consolidated financial statements. In December 2019, the FASB issued amended guidance in ASC 740, Income Taxes - Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 74 0. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC 740 by clarifying and amending existing guidance. The amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted. The company is evaluating the impact of this standard on its consolidated financial statements.

Revenue

Revenue3 Months Ended
Mar. 31, 2021
Revenue [Abstract]
Revenue2. REVENUE Revenue Recognition Revenue is recognized when obligations under the terms of a contract with a customer are satisfied. Generally this occurs with the transfer of control of products or services. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods or providing services. Sales, value add, and other taxes the company collects concurrent with revenue-producing activities are excluded from revenue. Revenue by Source The following tables disaggregate revenue by major source (in thousands): Three Months Ended March 31, 2021 Ethanol Production Agribusiness & Energy Services Partnership Eliminations Total Revenues: Revenues from contracts with customers under ASC 606: Ethanol $ - $ - $ - $ - $ - Distillers grains 3,613 - - - 3,613 Corn oil - - - - - Service revenues 563 - 1,057 - 1,620 Other 4,062 826 - - 4,888 Intersegment revenues - - 2,006 ( 2,006 ) - Total revenues from contracts with customers 8,238 826 3,063 ( 2,006 ) 10,121 Revenues from contracts accounted for as derivatives under ASC 815 (1) : Ethanol 289,585 75,912 - - 365,497 Distillers grains 95,694 9,239 - - 104,933 Corn oil 14,540 4,811 - - 19,351 Grain - 12,170 - - 12,170 Other 15,665 25,863 - - 41,528 Intersegment revenues - 5,123 - ( 5,123 ) - Total revenues from contracts accounted for as derivatives 415,484 133,118 - ( 5,123 ) 543,479 Leasing revenues under ASC 842 (2) : - - 17,343 ( 17,303 ) 40 Total Revenues $ 423,722 $ 133,944 $ 20,406 $ ( 24,432 ) $ 553,640 Three Months Ended March 31, 2020 Ethanol Production Agribusiness & Energy Services Partnership Eliminations Total Revenues: Revenues from contracts with customers under ASC 606: Ethanol $ - $ - $ - $ - $ - Distillers grains 16,475 - - - 16,475 Service revenues - - 1,179 - 1,179 Other 2,959 390 - - 3,349 Intersegment revenues 25 - 2,074 ( 2,099 ) - Total revenues from contracts with customers 19,459 390 3,253 ( 2,099 ) 21,003 Revenues from contracts accounted for as derivatives under ASC 815 (1) : Ethanol 367,092 126,093 - - 493,185 Distillers grains 72,527 4,709 - - 77,236 Corn oil 14,684 5,730 - - 20,414 Grain 6 7,950 - - 7,956 Other 1,957 11,009 - - 12,966 Intersegment revenues - 7,308 - ( 7,308 ) - Total revenues from contracts accounted for as derivatives 456,266 162,799 - ( 7,308 ) 611,757 Leasing revenues under ASC 842 (2) : - - 17,018 ( 16,909 ) 109 Total Revenues $ 475,725 $ 163,189 $ 20,271 $ ( 26,316 ) $ 632,869 (1) Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC 606, where the company recognizes revenue when control of the inventory is transferred within the meaning of ASC 606 as required by ASC 610-20, Gains and Losses from Derecognition of Nonfinancial Assets . (2) Leasing revenues do not represent revenues recognized from contracts with customers under ASC 606, and are accounted for under ASC 842, Leases . Major Customers Revenue from Customer A represented 13 % and 19 % of total revenues for the three months ended March 31, 2021 and 2020, respectively.

Acquisitions And Dispositions

Acquisitions And Dispositions3 Months Ended
Mar. 31, 2021
Acquisitions And Dispositions [Abstract]
Acquisitions And Dispositions3. ACQUISITIONS AND DISPOSITIONS Acquisition of a Majority Interest in Fluid Quip Technologies, LLC On December 9, 2020, the company acquired a majority interest in Fluid Quip Technologies, LLC. During the three months ended March 31, 2021, there were no material changes to the preliminary purchase price allocation or assets acquired and liabilities assumed. Disposition of Ord Ethanol Plant On March 22, 2021, the company completed the sale of the plant located in Ord, Nebraska and certain related assets, to GreenAmerica Biofuels Ord LLC (the “Ord Transaction”) for a sale price of $ 64.0 million, plus working capital of $ 9.8 million. Correspondingly, the company entered into a separate asset purchase agreement with the Partnership to acquire the storage assets and assign the rail transportation assets to be disposed of in the Ord Transaction for $ 27.0 million, which was used to pay down a portion of the Partnership’s credit facility. In addition, as of March 31, 2021, the company had a payable of $ 0.5 million for amounts owed to the Partnership as a result of a purchase price adjustment based on additional railcars being transferred to GreenAmerica Biofuels Ord LLC as part of the transaction. The divested assets were reported within the company’s ethanol production, agribusiness and energy services and partnership segments. The company recorded a pretax gain on the sale of the Ord plant of $ 36.9 million recorded within corporate activities. The asset and liabilities of the Ord ethanol plant at closing on March 22, 2021 were as follows: (in thousands): Amounts of Identifiable Assets Disposed and Liabilities Relinquished Inventory $ 10,400 Prepaid expenses and other 632 Property and equipment 24,285 Accrued and other liabilities ( 415 ) Total identifiable net assets disposed $ 34,902 The amounts reflected above represent working capital estimates, including an adjustment of $ 0.4 million subsequent to the initial sale, which are considered preliminary until contractual post-closing working capital adjustments are finalized. The operating lease right-of-use assets and lease liabilities associated with the railcar operating leases, currently estimated at approximately $ 2.0 million, respectively, will be extinguished upon the assignment of the associated leases to GreenAmerica Biofuels Ord LLC, which had not yet occurred as of March 31, 2021. Disposition of Hereford Ethanol Plant On December 28, 2020, the company completed the sale of the plant located in Hereford, Texas, and certain related assets, to Hereford Ethanol Partners, L.P. There were no material changes to the assets disposed and liabilities relinquished from the disposition of the Hereford plant during the three months ended March 31, 2021. Disposition of Equity Interest in Green Plains Cattle Company LLC On October 1, 2020, the company sold its remaining 50 % joint venture interest in GPCC to AGR Partners LLC, TGAM Agribusiness Fund LP and StepStone Atlantic Fund, LP.

Fair Value Disclosures

Fair Value Disclosures3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosures4 . FAIR VALUE DISCLOSURES The following methods, assumptions and valuation techniques were used in estimating the fair value of the company’s financial instruments: Level 1 – unadjusted quoted prices in active markets for identical assets or liabilities the company can access at the measurement date. Level 2 – directly or indirectly observable inputs such as quoted prices for similar assets or liabilities in active markets other than quoted prices included within Level 1, quoted prices for identical or similar assets in markets that are not active, and other inputs that are observable or can be substantially corroborated by observable market data through correlation or other means. Grain inventories held for sale in the agribusiness and energy services segment are valued at nearby futures values, plus or minus nearby basis values, which represent differences in local markets including transportation or commodity quality or grade differences. Level 3 – unobservable inputs that are supported by little or no market activity and comprise a significant component of the fair value of the assets or liabilities. The company currently does not have any recurring Level 3 financial instruments. Derivative contracts include exchange-traded commodity futures and options contracts and forward commodity purchase and sale contracts. Exchange-traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified in Level 1. The majority of the company’s exchange-traded futures and options contracts are cash-settled on a daily basis. There have been no changes in valuation techniques and inputs used in measuring fair value. The company’s assets and liabilities by level are as follows (in thousands): Fair Value Measurements at March 31, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs (Level 1) (Level 2) Total Assets: Cash and cash equivalents $ 446,833 $ - $ 446,833 Restricted cash 207,593 - 207,593 Inventories carried at market - 69,132 69,132 Unrealized gains on derivatives - 19,365 19,365 Other assets 111 42 153 Total assets measured at fair value $ 654,537 $ 88,539 $ 743,076 Liabilities: Accounts payable (1) $ - $ 20,281 $ 20,281 Unrealized losses on derivatives - 6,313 6,313 Total liabilities measured at fair value $ - $ 26,594 $ 26,594 Fair Value Measurements at December 31, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs (Level 1) (Level 2) Total Assets: Cash and cash equivalents $ 233,860 $ - $ 233,860 Restricted cash 40,950 - 40,950 Inventories carried at market - 77,900 77,900 Unrealized gains on derivatives - 21,956 21,956 Other assets 112 29 141 Total assets measured at fair value $ 274,922 $ 99,885 $ 374,807 Liabilities: Accounts payable (1) $ - $ 19,355 $ 19,355 Unrealized losses on derivatives - 10,997 10,997 Total liabilities measured at fair value $ - $ 30,352 $ 30,352 (1) Accounts payable is generally stated at historical amounts with the exception of $ 20.3 million and $ 19.4 million at March 31, 2021 and December 31, 2020, respectively, related to certain delivered inventory for which the payable fluctuates based on changes in commodity prices. These payables are hybrid financial instruments for which the company has elected the fair value option. The company believes the fair value of its debt approximated book value at March 31, 2021. The fair value of the company’s debt was approximately $ 535.9 million compared with a book value of $ 526.2 million at December 31, 2020. The company estimated the fair value of its outstanding debt using Level 2 inputs . The company believes the fair values of its accounts receivable approximated book value, which was $ 62.5 million and $ 55.6 million at March 31, 2021 and December 31, 2020, respectively. Although the company currently does not have any recurring Level 3 financial measurements, the fair values of tangible and intangible assets and goodwill acquired represent Level 3 measurements which were derived using a combination of the income approach, market approach and cost approach for the specific assets or liabilities being valued.

Segment Information

Segment Information3 Months Ended
Mar. 31, 2021
Segment Information [Abstract]
Segment Information5. SEGMENT INFORMATION The company reports the financial and operating performance for the following four operating segments: (1) ethanol production, which includes the production of ethanol, including industrial-grade alcohol, distillers grains, Ultra-High Protein and corn oil, (2) agribusiness and energy services, which includes grain handling and storage, commodity marketing and merchant trading for company-produced and third-party ethanol, distillers grains, corn oil, natural gas and other commodities, (3) food and ingredients, which includes food-grade corn oil and (4) partnership, which includes fuel storage and transportation services. The food and ingredients segment had no activity during the three months ended March 31, 2021 and 2020. Corporate activities include selling , general and administrative expenses, consisting primarily of compensation, professional fees and overhead costs not directly related to a specific operating segment. During the normal course of business, the operating segments conduct business with each other. For example, the agribusiness and energy services segment procures grain and natural gas and sells products, including ethanol, distillers grains and corn oil for the ethanol production segment. The partnership segment provides fuel storage and transportation services for the ethanol production segment. These intersegment activities are treated like third-party transactions with origination, marketing and storage fees charged at estimated market values. Consequently, these transactions affect segment performance; however, they do not impact the company’s consolidated results since the revenues and corresponding costs are eliminated. The following tables set forth certain financial data for the company’s operating segments (in thousands): Three Months Ended March 31, 2021 2020 Revenues: Ethanol production: Revenues from external customers $ 423,722 $ 475,700 Intersegment revenues - 25 Total segment revenues 423,722 475,725 Agribusiness and energy services: Revenues from external customers 128,821 155,881 Intersegment revenues 5,123 7,308 Total segment revenues 133,944 163,189 Partnership: Revenues from external customers 1,097 1,288 Intersegment revenues 19,309 18,983 Total segment revenues 20,406 20,271 Revenues including intersegment activity 578,072 659,185 Intersegment eliminations ( 24,432 ) ( 26,316 ) Total Revenues $ 553,640 $ 632,869 Refer to Note 2 - Revenue , for further disaggregation of revenue by operating segment. Three Months Ended March 31, 2021 2020 Cost of goods sold: Ethanol production $ 415,525 $ 489,150 Agribusiness and energy services 116,074 156,502 Intersegment eliminations ( 22,366 ) ( 28,424 ) $ 509,233 $ 617,228 Three Months Ended March 31, 2021 2020 Operating income (loss): Ethanol production (1) $ ( 20,320 ) $ ( 60,781 ) Agribusiness and energy services 13,346 2,560 Partnership 12,871 12,430 Intersegment eliminations ( 2,066 ) 2,133 Corporate activities (2) 27,516 ( 10,670 ) $ 31,347 $ ( 54,328 ) (1) Operating loss for ethanol production includes a goodwill impairment charge of $ 24.1 million for the three months ended March 31, 2020. (2) Corporate activities for the three months ended March 31, 2021 included a $ 36.9 million pretax gain on sale of assets. Three Months Ended March 31, 2021 2020 Depreciation and amortization: Ethanol production $ 18,528 $ 15,898 Agribusiness and energy services 607 553 Partnership 887 961 Corporate activities 659 668 $ 20,681 $ 18,080 The following table sets forth total assets by operating segment (in thousands): March 31, 2021 December 31, 2020 Total assets (1) : Ethanol production $ 1,028,817 $ 900,963 Agribusiness and energy services 403,628 378,720 Partnership 91,261 91,205 Corporate assets 454,650 228,074 Intersegment eliminations ( 33,730 ) ( 20,045 ) $ 1,944,626 $ 1,578,917 (1) Asset balances by segment exclude intercompany balances .

Inventories

Inventories3 Months Ended
Mar. 31, 2021
Inventories [Abstract]
Inventories6. INVENTORIES Inventories are carried at the lower of cost or net realizable value, except grain held for sale and fair-value hedged inventories. Commodities held for sale are reported at market value. There was no lower of cost or net realizable value inventory adjustment as of March 31, 2021 or December 31, 2020. The components of inventories are as follows (in thousands): March 31, 2021 December 31, 2020 Finished goods $ 87,591 $ 89,223 Commodities held for sale 25,858 40,147 Raw materials 94,154 90,800 Work-in-process 16,206 13,201 Supplies and parts 34,950 36,120 $ 258,759 $ 269,491

Derivative Financial Instrument

Derivative Financial Instruments3 Months Ended
Mar. 31, 2021
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments7. DERIVATIVE FINANCIAL INSTRUMENTS At March 31, 2021, the company’s consolidated balance sheet reflected unrealized losses of $ 8.4 million, net of tax, in accumulated other comprehensive income. The company expects these losses will be reclassified to operating income over the next 12 months as a result of hedged transactions that are forecasted to occur. The amount realized in operating income will differ as commodity prices change. Fair Values of Derivative Instruments The fair values of the company’s derivative financial instruments and the line items on the consolidated balance sheets where they are reported are as follows (in thousands): Asset Derivatives' Liability Derivatives' Fair Value Fair Value March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Derivative financial instruments $ 19,365 $ 21,956 (1) $ 6,313 (2) $ 10,997 (3) Other assets 42 29 - - Total $ 19,407 $ 21,985 $ 6,313 $ 10,997 (1) At December 31, 2020, derivative financial instruments, as reflected on the balance sheet, includes net unrealized gains on exchange traded futures and options contracts of $ 3.3 million, which include $ 2.8 million of net unrealized gains on derivative financial instruments designated as cash flow hedging instruments. (2) At March 31, 2021, derivative financial instruments, as reflected on the balance sheet, includes net unrealized losses on exchange traded futures and options contracts of $ 34.8 million, which included $ 24.8 million of net unrealized losses on derivative financial instruments designated as cash flow hedging instruments. (3) At December 31, 2020, derivative financial instruments, as reflected on the balance sheet, includes net unrealized losses on exchange traded futures and options contracts of $ 9.3 million, none of which were designated as cash flow hedging instruments. Refer to Note 4 - Fair Value Disclosures , which contains fair value information related to derivative financial instruments. Effect of Derivative Instruments on Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income The gains or losses recognized in income and other comprehensive income related to the company’s derivative financial instruments and the line items on the consolidated financial statements where they are reported are as follows (in thousands): Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Location of Gain (Loss) Reclassified from Accumulated Other Three Months Ended March 31, Comprehensive Income into Income 2021 2020 Revenues $ ( 15,188 ) $ 8,818 Cost of goods sold 16,999 ( 2,901 ) Net gain recognized in loss before income taxes $ 1,811 $ 5,917 Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives Gain (Loss) Recognized in Other Comprehensive Income on Three Months Ended March 31, Derivatives 2021 2020 Commodity contracts $ ( 6,376 ) $ 5,979 Amount of Gain (Loss) Location of Gain (Loss) Recognized in Income on Derivatives Derivatives Not Designated Recognized in Income Three Months Ended March 31, as Hedging Instruments on Derivatives 2021 2020 Commodity contracts Revenues $ ( 40,794 ) $ 45,407 Commodity contracts Costs of goods sold 8,563 ( 2,679 ) Net gain (loss) recognized in loss before income taxes $ ( 32,231 ) $ 42,728 The following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for the fair value hedged items (in thousands): March 31, 2021 December 31, 2020 Line Item in the Consolidated Balance Sheet in Which the Hedged Item is Included Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Inventories $ 45,378 $ 12,825 $ 53,963 $ 9,041 Effect of Cash Flow and Fair Value Hedge Accounting on the Statements of Operations The effect of cash flow and fair value hedges and the line items on the consolidated statements of operations where they are reported are as follows (in thousands): Location and Amount of Gain (Loss) Recognized in Income on Cash Flow and Fair Value Hedging Relationships for the Three Months Ended March 31, 2021 2020 Revenue Cost of Goods Sold Revenue Cost of Goods Sold Gain (loss) on cash flow hedging relationships: Commodity contracts: Amount of gain reclassified from accumulated other comprehensive income into income $ ( 15,188 ) $ 16,999 $ 8,818 $ ( 2,901 ) Gain (loss) on fair value hedging relationships: Commodity contracts: Hedged item - 7,967 - ( 7,594 ) Derivatives designated as hedging instruments - ( 7,108 ) - 8,114 Total amounts of income and expense line items presented in the statement of operations in which the effects of cash flow or fair value hedges are recorded $ ( 15,188 ) $ 17,858 $ 8,818 $ ( 2,381 ) There were no gains or losses from discontinuing cash flow or fair value hedge treatment during the three months ended March 31, 2021 and 2020. The open commodity derivative positions as of March 31, 2021 are as follows (in thousands): Exchange Traded (1) Non-Exchange Traded (2) Derivative Instruments Net Long & (Short) Long (Short) Unit of Measure Commodity Futures ( 22,300 ) Bushels Corn and Soybeans Futures 28,965 (3) Bushels Corn Futures ( 7,255 ) (4) Bushels Corn Futures ( 119,490 ) Gallons Ethanol Futures ( 80,346 ) (3) Gallons Ethanol Futures 15,238 MmBTU Natural Gas Futures ( 848 ) (4) MmBTU Natural Gas Futures 425 Tons Soybean Meal Futures ( 24,000 ) Pounds Soybean Oil Options 109 Tons Soybean Meal Options 63,159 Pounds Soybean Oil Options 10,995 Bushels Corn Options ( 10,719 ) Gallons Ethanol Options 76 MmBTU Natural Gas Forwards 49,595 ( 62 ) Bushels Corn and Soybeans Forwards - ( 155,333 ) Gallons Ethanol Forwards 126 ( 398 ) Tons Distillers Grains Forwards 24,816 ( 18,000 ) Pounds Corn Oil Forwards 15,658 ( 1,029 ) MmBTU Natural Gas (1) Exchange traded futures and options are presented on a net long and (short) position basis. Options are presented on a delta-adjusted basis. (2) Non-exchange traded forwards are presented on a gross long and (short) position basis including both fixed-price and basis contracts. (3) Futures used for cash flow hedges. (4) Futures used for fair value hedges. Energy trading contracts that do not involve physical delivery are presented net in revenues on the consolidated statements of operations. Included in revenues are net gains on energy trading contracts of $ 0.4 million and $ 3.1 million for the three months ended March 31, 2021 and 2020, respectively.

Debt

Debt3 Months Ended
Mar. 31, 2021
Debt [Abstract]
Debt8. DEBT On January 1, 2021, the company early adopted the amended guidance in ASC 470-20 , using the modified retrospective method of transition. The adoption of this guidance resulted in a $ 49.5 million decrease in additional paid-in capital, an $ 11.4 million increase in retained earnings and a $ 38.1 million increase in long-term debt, which included a $ 39.4 million increase in debt principal offset by a $ 1.3 million increase in debt issuance costs, resulting from amounts previously bifurcated to equity being reclassified to debt. The components of long-term debt are as follows (in thousands): March 31, 2021 December 31, 2020 Corporate: (1) 2.25 % convertible notes due 2027 (2) $ 230,000 $ - 4.00 % convertible notes due 2024 (3) 115,000 89,125 4.125 % convertible notes due 2022 (4) 34,316 156,441 Green Plains SPE LLC: $ 125.0 million junior secured mezzanine notes due 2026 (5) 125,000 - Green Plains Wood River and Green Plains Shenandoah: $ 75.0 million delayed draw loan agreement (6) 30,000 30,000 Green Plains Partners: $ 135.0 million credit facility (7) 62,800 100,000 Other 15,793 15,936 Total book value of long-term debt 612,909 391,502 Unamortized debt issuance costs ( 13,587 ) ( 6,151 ) Less: current maturities of long-term debt ( 61,442 ) ( 98,052 ) Total long-term debt $ 537,880 $ 287,299 (1) See discussion on early adoption of the amended guidance in ASC 470-20 on the previous page. (2) Includes $ 7.4 million of unamortized debt issuance costs as of March 31, 2021. (3) Includes $ 2.8 million and $ 2.2 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively. (4) See discussion below regarding the repurchase of convertible notes due in 2022. Includes $ 0.3 million and $ 1.3 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively. (5) Includes $ 1.0 million of unamortized debt issuance costs as of March 31, 2021 . (6) Includes $ 0.3 million of unamortized debt issuance costs as of both March 31, 2021 and December 31, 2020 . (7) Includes $ 1.7 million and $ 2.3 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively. The components of short-term notes payable and other borrowings are as follows (in thousands): March 31, 2021 December 31, 2020 Green Plains Trade: $ 300.0 million revolver $ 70,270 $ 79,251 Green Plains Grain: $ 100.0 million revolver 49,000 38,700 $ 50.0 million inventory financing 32,277 - Green Plains Commodity Management: $ 30.0 million hedge line 22,557 21,682 Other - 1,175 $ 174,104 $ 140,808 Corporate Activities In March 2021, the company issued an aggregate $ 230.0 million of 2.25 % convertible senior notes due in 2027, or the 2.25 % notes. The 2.25 % notes bear interest at a rate of 2.25 % per year, payable on March 15 and September 15 of each year, beginning September 15, 2021, and mature on March 15, 2027 . The 2.25 % notes are senior, unsecured obligations of the company. The 2.25 % notes are convertible, at the option of the holders, into consideration consisting of, at the company’s election, cash, shares of the company’s common stock, or a combination of cash and stock (and cash in lieu of fractional shares). However, before September 15, 2026, the 2.25 % notes will not be convertible unless certain conditions are satisfied. The initial conversion rate is 31.6206 shares of the company’s common stock per $ 1,000 principal amount of 2.25 % notes (equivalent to an initial conversion price of approximately $ 31.62 per share of the company’s common stock), representing an approximately 37.5 % premium over the offering price of the company’s common stock. The conversion rate is subject to adjustment upon the occurrence of certain events, including but not limited to; the event of a stock dividend or stock split; the issuance of additional rights, options and warrants; spinoffs; the event of a cash dividend or distribution; or a tender or exchange offering. In addition, the company may be obligated to increase the conversion rate for any conversion that occurs in connection with certain corporate events, including the company’s calling the 2.25 % notes for redemption. On and after March 15, 2024, and prior to the maturity date, the company may redeem, for cash, all, but not less than all, of the 2.25 % notes if the last reported sale price of the company’s common stock equals or exceeds 140 % of the applicable conversion price on (i) at least 20 trading days during a 30 consecutive trading day period ending on the trading day immediately prior to the date the company delivers notice of the redemption; and (ii) the trading day immediately before the date of the redemption notice. The redemption price will equal 100 % of the principal amount of the 2.25 % notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. In addition, upon the occurrence of a “fundamental change” (as defined in the indenture for the 2.25 % notes), holders of the 2.25 % notes will have the right, at their option, to require the company to repurchase their 2.25 % notes for cash at a price equal to 100 % of the principal amount of the 2.25 % notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. During June 2019, the company issued an aggregate $ 115.0 million of 4.00 % convertible senior notes due in 2024, or the 4.00 % notes. The 4.00 % notes are senior, unsecured obligations of the company, with interest payable on January 1 and July 1 of each year, beginning January 1, 2020, at a rate of 4.00 % per annum. The 4.00 % notes will mature on July 1, 2024 , unless earlier converted, redeemed or repurchased. The 4.00 % notes will be convertible, at the option of the holders, into consideration consisting of, at the company’s election, cash, shares of the company’s common stock, or a combination of cash and shares of the company’s common stock until the close of business on the scheduled trading day immediately preceding the maturity date. However, before January 1, 2024, the 4.00 % notes will not be convertible unless certain conditions are satisfied. The initial conversion rate is 64.1540 shares of common stock per $ 1,000 of principal, which is equal to a conversion price of approximately $ 15.59 per share. The conversion rate will be subject to adjustment upon the occurrence of certain events, including but not limited to; the event of a stock dividend or stock split; the issuance of additional rights, options and warrants; spinoffs; the event of a cash dividend or distribution; or a tender or exchange offering. In addition, the company may be obligated to increase the conversion rate for any conversion that occurs in connection with certain corporate events, including the company’s calling the 4.00 % notes for redemption. On and after July 1, 2022, and prior to the maturity date, the company may redeem all, but not less than all, of the 4.00 % notes for cash if the sale price of the company’s common stock equals or exceeds 140 % of the applicable conversion price for a specified time period ending on the trading day immediately prior to the date the company delivers notice of the redemption. The redemption price will equal 100 % of the principal amount of the 4.00 % notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. In addition, upon the occurrence of a fundamental change, holders of the 4.00 % notes will have the right, at their option, to require the company to repurchase the 4.00 % notes in cash at a price equal to 100 % of the principal amount of the 4.00 % notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In August 2016, the company issued $ 170.0 million of 4.125 % convertible senior notes due in 2022, or the 4.125 % notes. In March 2021, concurrent with the issuance of the 2.25 % notes, the company used approximately $ 156.5 million of the net proceeds of the 2.25 % notes to repurchase approximately $ 135.7 million aggregate principal amount of the 4.125 % notes, in privately negotiated transactions. Pursuant to the guidance within ASC 470, Debt , the company recorded a loss upon extinguishment of $ 22.1 million, measured by the difference between the fair value and carrying value of the notes, which was recorded to interest expense. This charge included $ 1.2 million of unamortized debt issuance costs related to the principal balance extinguished. The 4.125 % notes are senior, unsecured obligations of the company, with interest payable on March 1 and September 1 of each year. The company may settle the 4.125 % notes in cash, common stock or a combination of cash and common stock. Prior to March 1, 2022, the 4.125 % notes are not convertible unless certain conditions are satisfied. The initial conversion rate is 35.7143 shares of common stock per $ 1,000 of principal, which is equal to a conversion price of approximately $ 28.00 per share. The conversion rate will be subject to adjustment upon the occurrence of certain events, including but not limited to; the event of a stock dividend or stock split; the issuance of additional rights, options and warrants; spinoffs; the event of a cash dividend or distribution; or a tender or exchange offering. The company may redeem all, but not less than all, of the 4.125 % notes at any time on or after September 1, 2020, if the company’s common stock equals or exceeds 140 % of the applicable conversion price for a specified time period ending on the trading day immediately prior to the date the company delivers notice of the redemption. The redemption price will equal 100 % of the principal plus any accrued and unpaid interest. Holders of the 4.125 % notes have the option to require the company to repurchase the 4.125 % notes in cash at a price equal to 100 % of the principal plus accrued and unpaid interest when there is a fundamental change, such as change in control. If an event of default occurs, it could result in the 4.125 % notes being declared due and payable. Agribusiness and Energy Services Segment Green Plains Trade has a $ 300.0 million senior secured asset-based revolving credit facility to finance working capital for marketing and distribution activities based on eligible collateral equal to the sum of percentages of eligible receivables and inventories, less miscellaneous adjustments. The credit facility matures on July 28, 2022 and consists of a $ 285 million credit facility and a $ 15 million first-in-last-out (FILO) credit facility, and includes an accordion feature that enables the credit facility to be increased by up to $ 70.0 million with agent approval. Advances are subject to variable interest rates equal to daily LIBOR plus 2.25 % on the credit facility and daily LIBOR plus 3.25 % on the FILO credit facility. The total unused portion of the revolving credit facility is also subject to a commitment fee of 0.375 % per annum. The terms impose affirmative and negative covenants for Green Plains Trade, including maintaining a minimum fixed charge coverage ratio of 1.15 to 1.00. Capital expenditures are limited to $ 1.5 million per year under the credit facility. The credit facility also restricts distributions related to capital stock, with an exception for distributions up to 50 % of net income if, on a pro forma basis, (a) availability has been greater than $ 10.0 million for the last 30 days and (b) the borrower would be in compliance with the fixed charge coverage ratio on the distribution date. Green Plains Grain has a $ 100.0 million senior secured asset-based revolving credit facility, which matures on June 28, 2022 . The credit facility finances working capital up to the maximum commitment based on eligible collateral equal to the sum of percentages of eligible cash, receivables and inventories, less miscellaneous adjustments. Advances are subject to an interest rate equal to LIBOR plus 3.00 % or the lenders’ base rate plus 2.00 %. The credit facility also includes an accordion feature that enables the facility to be increased by up to $ 75.0 million with agent approval. The credit facility can also be increased by up to $ 50.0 million for seasonal borrowings. Total commitments outstanding cannot exceed $ 225.0 million. Depending on utilization, the total unused portion of the $ 100.0 million revolving credit facility is also subject to a commitment fee ranging from 0.375 % to 0.50 %. Lenders receive a first priority lien on certain cash, inventory, accounts receivable and other assets owned by Green Plains Grain. The terms impose affirmative and negative covenants for Green Plains Grain, including maintaining minimum working capital to be the greater of (i) $ 18,000,000 and (ii) 18 % of the sum of the then total commitment plus the aggregate seasonal line commitments . Minimum tangible net worth is required to be greater than 21 % of the sum of the then total commitment plus the aggregate seasonal line commitments. The credit facility also requires the company to maintain a maximum annual leverage of 6.00 to 1.00. Capital expenditures are limited to $ 8.0 million per year under the credit facility, plus equity contributions from the company and unused amounts of up to $ 8.0 million from the previous year. In addition, if the company has long-term indebtedness on the date of calculation of greater than $ 10.0 million, the credit facility requires the company to maintain a minimum fixed charge coverage ratio of 1.25 to 1.00 and a maximum long term debt capitalization of 40 %. Green Plains Grain has entered into short-term inventory financing agreements with a financial institution. At March 31, 2021, 5.5 million bushels of corn had been designated as collateral under these agreements at initial values totaling $ 32.3 million. The company has accounted for the agreements as short-term notes, rather than sales, and has elected the fair value option to offset fluctuations in market prices of the inventory. At March 31, 2021, the short-term notes payable were valued at $ 32.3 million and were measured using Level 2 inputs. Green Plains Commodity Management has an uncommitted $ 30.0 million revolving credit facility which matures April 30, 2023 to finance margins related to its hedging programs. Advances are subject to variable interest rates equal to LIBOR plus 1.75 %. Ethanol Production Segment On February 9, 2021, Green Plains SPE LLC, a wholly-owned special purpose subsidiary and parent of Green Plains Obion and Green Plains Mount Vernon issued $ 125.0 million of junior secured mezzanine notes due 2026 (the “Junior Notes”) with four funds and accounts managed by BlackRock for the purchase of all notes issued. The Junior Notes will mature on February 9, 2026 and are secured by a pledge of the membership interests in and the real property owned by Green Plains Obion and Green Plains Mount Vernon. The proceeds of the Junior Notes will be used to construct high protein processing systems at the Green Plains Obion and Green Plains Mount Vernon facilities. The Junior Notes accrue interest at an annual rate of 11.75% . However, subject to the satisfaction of certain conditions, the Green Plains SPE LLC may elect to pay an amount in cash equal to interest accruing at a rate of 6.00% per annum plus an amount equal to interest accruing at a rate of 6.75% per annum to be paid in kind. The entire outstanding principal balance, plus any accrued and unpaid interest is due upon maturity. Green Plains SPE LLC is required to comply with certain financial covenants regarding minimum liquidity at Green Plains and a maximum aggregate loan to value. The Junior Notes can be retired or refinanced after 42 months with no prepayment premium. The Junior Notes have an unsecured parent guarantee from the company and have certain limitations on distributions, dividends or loans to the company unless there will not exist any event of default. Funds associated with the Junior Notes are administered by a trustee and are included in the balance of restricted cash as of March 31, 2021. On September 3, 2020, Green Plains Wood River and Green Plains Shenandoah, wholly-owned subsidiaries of the company, entered into a delayed draw loan agreement with MetLife Real Estate Lending LLC. The $ 75.0 million delayed draw loan matures on September 1, 2035 and is secured by substantially all of the assets of the Wood River and Shenandoah facilities. The proceeds from the loan will be used to add high protein processing systems at the Wood River and Shenandoah facilities as well as other capital expenditures. The delayed draw loan bears interest at a fixed rate of 5.02 %, plus an interest rate premium of 1.5 % until the loan is fully drawn, which must occur within the 18 month draw period. After the earlier of the 18 month draw period or the loan being fully drawn, the interest rate premium may be adjusted quarterly from 0.00 % to 1.50 % based on the leverage ratio of total funded debt to EBITDA of Wood River and Shenandoah. Principal payments of $ 1.5 million per year begin 24 months from the closing date. Prepayments are prohibited until September 2024. Financial covenants of the delayed draw loan agreement include a minimum loan to value ratio of 50 %, a minimum fixed charge coverage ratio of 1.25 x commencing on June 30, 2021, a total debt service reserve of six months of future principal and interest payments and a minimum working capital requirement at Green Plains of not less than $ 0.10 per gallon of nameplate capacity or $ 95.8 million. The loan is guaranteed by the company and has certain limitations on distributions, dividends or loans to Green Plains by Wood River and Shenandoah unless immediately after giving effect to such action, there will not exist any event of default. The company also has small equipment financing loans, finance leases on equipment or facilities, and other forms of debt financing. Partnership Segment Green Plains Partners has a $ 135.0 million credit facility to fund working capital, capital expenditures and other general partnership purposes. The credit facility includes a $ 130.0 million term loan and a $ 5.0 million revolver, and matures on December 31, 2021 . The partnership made $ 37.5 million in principal payments on the term loan during the three months ended March 31, 2021, including $ 7.5 million of scheduled repayments, $ 27.0 million related to the sale of the storage assets located adjacent to the Ord, Nebraska ethanol plant and a $ 3.0 million prepayment made with excess cash. As of March 31, 2021, no additional prepayments on the term loan were required or paid. Monthly principal payments of $ 2.5 million are required through April 15, 2021, with a step up to monthly payments of $ 3.2 million beginning May 15, 2021 through maturity. In addition, if at any time subsequent to July 15, 2020, the partnership’s cash balance exceeds $ 2.5 million for more than five consecutive business days, prepayments of outstanding principal are required in an amount equal to the excess cash. The partnership is also required to prepay outstanding principal on the credit facility with 100 % of net cash proceeds from any asset disposition or recovery event. Any prepayments on the term loan are applied to the remaining principal balance in inverse order of maturity, including the final payment. The term loan balance, and any advances on the revolver, are subject to a floating interest rate based on a 1.0% LIBOR floor plus 4.50 % to 5.25 % dependent upon the preceding fiscal quarter’s consolidated leverage ratio. Prepayments of $ 40.0 million in excess of the scheduled monthly payments were made prior to April 1, 2021, and as such, the interest rate associated with the term loan balance will not be increased to a floating rate based on a 1.00 % LIBOR floor plus 5.00 % to 5.75 %. The unused portion of the revolver is also subject to a commitment fee of 0.50 %. The credit facility also allows for swing line loans subject to the revolver availability. Swing line loans are subject to a floating interest rate based on the Prime Rate plus 3.5 % to 4.25 % dependent upon the preceding fiscal quarter’s consolidated leverage ratio. Under the terms of the credit facility, swing line loans must be repaid within 10 days of the date of the advance. As of March 31, 2021, the term loan had a balance of $ 62.5 million and an interest rate of 5.75 % and the revolver had a balance outstanding of $ 0.3 million at an interest rate of 7.00 %. The partnership’s obligations under the credit facility are secured by a first priority lien on (i) the equity interests of the partnership’s present and future subsidiaries, (ii) all of the partnership’s present and future personal property, such as investment property, general intangibles and contract rights, including rights under any agreements with Green Plains Trade, and (iii) all proceeds and products of the equity interests of the partnership’s present and future subsidiaries and its personal property and (iv) substantially all of the partnership’s real property and material leases of real property. The terms impose affirmative and negative covenants, including restrictions on the partnership’s ability to incur additional debt, acquire and sell assets, create liens, invest capital, pay distributions and materially amend the partnership’s commercial agreements with Green Plains Trade. The credit facility also requires the partnership to maintain a maximum consolidated leverage ratio and a minimum consolidated debt service coverage ratio , each of which is calculated on a pro forma basis with respect to acquisitions and divestitures occurring during the applicable period. The maximum consolidated leverage ratio required, as of the end of any fiscal quarter, is no more than 3.00 x and decreases 0.25 x each quarter to 1.50 x by December 31, 2021. The minimum consolidated debt service coverage ratio for the three months ended March 31, 2021, was set to 1.05 x due to the partnership having completed prepayment of at least $ 40 million of the outstanding principal balance on the credit facility as specified in the loan agreement. The minimum debt service coverage ratio will resume being set to 1.10 x for subsequent quarters. The consolidated leverage ratio is calculated by dividing total funded indebtedness by the sum of the four preceding fiscal quarters’ consolidated EBITDA. The consolidated debt service coverage ratio is calculated by taking the sum of the four preceding fiscal quarters’ consolidated EBITDA minus income taxes and consolidated capital expenditures for such period divided by the sum of the four preceding fiscal quarters’ consolidated interest charges plus consolidated scheduled funded debt payments for such period. Under the amended terms of the credit facility, the partnership may make quarterly distribution payments in an aggregate amount not to exceed $ 0.12 per outstanding unit, so long as (i) no default has occurred and is continuing, or would result from payment of the distribution, and (ii) the partnership and its subsidiaries are in compliance with its financial covenants and remain in compliance after payment of the distribution. The credit facility is not guaranteed by the company. The facility, which is supported by a group of financial institutions, will mature on December 31, 2021 unless extended by agreement of the lenders or replaced by another funding source. While the partnership has not yet finalized renegotiations of the credit facility or secured additional funding necessary to repay the loan, the partnership believes it is probable that it will source appropriate funding given the partnership’s consistent and stable fee-based cash flows, ongoing profitability, low debt leverage and history of obtaining financing on reasonable commercial terms. In the unlikely scenario that the partnership is unable to refinance its debt with the lenders prior to its maturity, the partnership will consider other financing sources, including but not limited to, the restructuring or issuance of new debt with a different lending group, the issuance of additional partnership units, other strategic actions to extinguish the debt, or support from the company. Covenant Compliance The company was in compliance with its debt covenants as of March 31, 2021. Restricted Net Assets At March 31, 2021, there were approximately $ 152.7 million of net assets at the company’s subsidiaries that could not be transferred to the parent company in the form of dividends, loans or advances due to restrictions contained in the credit facilities of these subsidiaries.

Stock-Based Compensation

Stock-Based Compensation3 Months Ended
Mar. 31, 2021
Stock-Based Compensation [Abstract]
Stock-Based Compensation9. STOCK-BASED COMPENSATION The company has an equity incentive plan which reserved a total of 5.7 million shares of common stock for issuance pursuant to the plan. The plan provides for shares, including options to purchase shares of common stock, stock appreciation rights tied to the value of common stock, restricted stock, restricted and deferred stock unit awards and performance share awards to eligible employees, non-employee directors and consultants. The company measures stock-based compensation at fair value on the grant date, with no adjustments for estimated forfeitures. The company records noncash compensation expense related to equity awards in its consolidated financial statements over the requisite period on a straight-line basis. Restricted Stock Awards and Deferred Stock Units The non-vested stock award and deferred stock unit activity for the three months ended March 31, 2021, is as follows: Non-Vested Shares and Deferred Stock Units Weighted- Average Grant- Date Fair Value Weighted-Average Remaining Vesting Term (in years) Non-Vested at December 31, 2020 1,028,739 $ 9.15 Granted 295,878 26.25 Forfeited ( 6,221 ) 11.79 Vested ( 293,715 ) 13.71 Non-Vested at March 31, 2021 1,024,681 $ 12.76 2.4 Performance Shares On February 18, 2021 and March 18, 2020, the board of directors granted performance shares to be awarded in the form of common stock to certain participants of the plan. These performance shares vest based on the level of achievement of certain performance goals, including the incremental value achieved from the company’s high-protein initiatives, annual production levels and return on investment (ROI). Performance shares granted in 2021 and 2020 do not contain market based factors requiring a Monte Carlo valuation model. The performance shares were granted at a target of 100 %, but each performance share will reduce or increase depending on results for the performance period. If the company achieves the maximum performance goals, the maximum amount of shares available to be issued pursuant to the 2021 and 2020 awards are 1,122,243 performance shares which represents approximately 272 % of the 412,121 performance shares which remain outstanding. The actual number of performance shares that will ultimately vest is based on the actual performance targets achieved at the end of the performance period. On February 19, 2019 and March 19, 2018, the board of directors granted performance shares to be awarded in the form of common stock to certain participants of the plan. These performance shares vest based on the company’s average return on net assets (RONA) and the company’s total shareholder return (TSR), as further described herein. The performance shares vest on the third anniversary of the grant, if the RONA and TSR criteria are achieved and the participant is then employed by the company. Fifty percent of the performance shares vest based upon the company’s ability to achieve a predetermined RONA during the three year performance period. The remaining fifty percent of the performance shares vest based upon the company’s total TSR during the three year performance period relative to that of the company’s performance peer group. The performance shares were granted at a target of 100 %, but each performance share will reduce or increase depending on results for the performance period for the company's RONA, and the company’s TSR relative to that of the performance peer group. On March 19, 2021, based on criteria discussed above, the 2018 performance shares vested at a target of 75 %. If the company’s RONA and TSR achieve the maximum goals, the maximum amount of shares available to be issued pursuant to the 2019 awards are 252,279 performance shares or 150 % of the 168,186 performance shares which remain outstanding. The actual number of performance shares that will ultimately vest is based on the actual percentile ranking of the company’s RONA, and the company’s TSR compared to the peer performance at the end of the performance period. For performance shares which include market based factors, the company uses the Monte Carlo valuation model to estimate the fair value of the performance shares on the date of the grant. The weighted average assumptions used by the company in applying the Monte Carlo valuation model for performance share grants and related valuation are illustrated in the following table: FY 2019 Performance Awards Risk-free interest rate 2.45 % Dividend yield 3.13 % Expected volatility 41.69 % Monte Carlo valuation 99.62 % Closing stock price on the date of grant $ 15.34 The non-vested performance share award activity for the three months ended March 31, 2021, is as follows: Performance Shares Weighted- Average Grant- Date Fair Value Weighted-Average Remaining Vesting Term (in years) Non-Vested at December 31, 2020 517,969 $ 10.82 Granted 179,555 26.27 Forfeited ( 29,302 ) 18.15 Vested ( 87,915 ) 17.68 Non-Vested at March 31, 2021 580,307 $ 14.17 2.5 Green Plains Partners Green Plains Partners has a long-term incentive plan (LTIP) intended to promote the interests of the partnership, its general partner and affiliates by providing unit-based incentive compensation awards to employees, consultants and directors to encourage superior performance. The LTIP reserves 2,500,000 common limited partner units for issuance in the form of options, restricted units, phantom units, distribution equivalent rights, substitute awards, unit appreciation rights, unit awards, profit interest units or other unit-based awards. The partnership measures unit-based compensation at fair value on the grant date, with no adjustments for estimated forfeitures. The partnership records noncash compensation expense related to the awards over the requisite service period on a straight-line basis. There was no change in the number of non-vested based awards during the three months ended March 31, 2021. Stock-Based and Unit Based Compensation Expense Compensation costs for stock-based and unit-based payment plans were $ 0.9 million and $ 1.3 million for the three months ended March 31, 2021 and 2020, respectively. At March 31, 2021, there was $ 16.5 million of unrecognized compensation costs from stock-based and unit-based compensation related to non-vested awards. This compensation is expected to be recognized over a weighted-average period of approximately 2.5 years. The potential tax benefit related to stock-based payment is approximately 23.9 % of these expe nses .

Earnings Per Share

Earnings Per Share3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share10. EARNINGS PER SHARE Basic earnings per share, or EPS, is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. The company computed diluted EPS by dividing net income on an if-converted basis, adjusted to add back net interest expense related to the convertible debt instruments, by the weighted average number of common shares outstanding during the period, adjusted to include the shares that would be issued if the convertible debt instruments were converted to common shares and the effect of any outstanding dilutive securities. The basic and diluted EPS are calculated as follows (in thousands, except per share amounts): Three Months Ended March 31, 2021 2020 EPS - basic and diluted: Net loss attributable to Green Plains $ ( 6,545 ) $ ( 16,445 ) Weighted average shares outstanding - basic and diluted 37,695 34,665 EPS - basic and diluted $ ( 0.17 ) $ ( 0.47 ) Anti-dilutive weighted-average convertible debt and stock-based compensation (1) 13,714 13,926 (1) The effect related to the company’s convertible debt, outstanding warrants and stock-based compensation awards have been excluded from diluted EPS for the periods presented as the inclusion of these shares would have been anti-dilutive.

Stockholders' Equity

Stockholders' Equity3 Months Ended
Mar. 31, 2021
Stockholders' Equity [Abstract]
Stockholders' Equity11. STOCKHOLDERS’ EQUITY Early Adoption of ASC 470-20 On January 1, 2021, the company early adopted the amended guidance in ASC 470-20 , using the modified retrospective method of transition. The adoption of this guidance resulted in a $ 49.5 million decrease in additional paid-in capital, an $ 11.4 million increase in retained earnings and a $ 38.1 million increase in long-term debt, which included a $ 39.4 million increase in debt principal offset by a $ 1.3 million increase in debt issuance costs, resulting from amounts previously bifurcated to equity being reclassified to debt. Upon adoption of amended guidance in ASC 470-20 , the company reversed the remaining deferred tax liability of $ 9.2 million associated to the equity portion of previously issued convertible debt. As the company had recorded a full valuation allowance against its deferred tax assets, the reversal of the $ 9.2 million deferred tax liability would require an increase to the existing valuation allowance by the same amount which would normally be recorded through current income tax expense. However, because the change in the deferred tax liability is directly linked to the adoption of ASC 470-20 , which is accounted for as a cumulative effect adjustment, the required increase to the valuation allowance is recorded as part of the cumulative adjustment to stockholders’ equity and has no effect on the income statement. Public Offering of Common Stock On March 1, 2021, the company completed an offering of 8,751,500 shares of our common stock, par value $ 0.001 per share, in a public offering at a price of $ 23.00 per share (the “Common Stock Offering”). The Common Stock Offering resulted in net proceeds of $ 191.1 million, after deducting underwriting discounts and commissions as well as the company’s offering expenses. Warrants During the three months ended March 31, 2021, in connection with certain arrangements, the company issued warrants to purchase shares of its common stock. The company measures the fair value of the warrants using the Black-Scholes option pricing model as of the issuance date. Exercisable warrants are equity based and recorded as a reduction in additional paid-in capital. The company has reserved 2,550,000 shares of common stock for the exercise of warrants to non-employees, of which 2,275,000 are exercisable. These warrants could potentially dilute basic earnings per share in future years. The exercise price of the warrants is $ 22.00 and expiration dates are December 8, 2025 for 275,000 warrants, February 9, 2026 for 275,000 warrants and April 28, 2026 for 2,000,000 warrants. Components of stockholders’ equity for the three months ended March 31, 2021 and 2020 are as follows (in thousands): Accum. Total Additional Other Green Plains Non- Total Common Stock Paid-in Retained Comp. Treasury Stock Stockholders' Controlling Stockholders' Shares Amount Capital Earnings Income Shares Amount Equity Interests Equity Balance, December 31, 2020 47,471 $ 47 $ 740,889 $ 39,375 $ ( 2,172 ) 11,813 $ ( 131,287 ) $ 646,852 $ 129,812 $ 776,664 Impact of ASC 470-20 adoption (1) - - ( 49,496 ) 11,418 - - - ( 38,078 ) - ( 38,078 ) Balance, January 1, 2021 47,471 47 691,393 50,793 ( 2,172 ) 11,813 ( 131,287 ) 608,774 129,812 738,586 Net income (loss) - - - ( 6,545 ) - - - ( 6,545 ) 4,566 ( 1,979 ) Cash distributions declared - - - - - - - - ( 1,395 ) ( 1,395 ) Other comprehensive loss before reclassification - - - - ( 4,849 ) - - ( 4,849 ) - ( 4,849 ) Amounts reclassified from accumulated other comprehensive loss - - - - ( 1,377 ) - - ( 1,377 ) - ( 1,377 ) Other comprehensive income, net of tax - - - - ( 6,226 ) - - ( 6,226 ) - ( 6,226 ) Investment in subsidiary - - - - - - - - 3,330 3,330 Issuance of warrants - - 3,431 - - - - 3,431 ( 3,431 ) - Issuance of common stock for cash at $ 23.00 per share, net of fees 8,752 9 191,125 - - - - 191,134 - 191,134 Stock-based compensation 230 - ( 3,000 ) - - - - ( 3,000 ) 79 ( 2,921 ) Balance, March 31, 2021 56,453 $ 56 $ 882,949 $ 44,248 $ ( 8,398 ) 11,813 $ ( 131,287 ) $ 787,568 $ 132,961 $ 920,529 (1) See Note 1 – Recent Accounting Pronouncements and Note 8 – Debt for discussion on adoption of ASC 470-20 . Accum. Total Additional Other Green Plains Non- Total Common Stock Paid-in Retained Comp. Treasury Stock Stockholders' Controlling Stockholders' Shares Amount Capital Earnings Income Shares Amount Equity Interests Equity Balance, January 1, 2020 46,964 $ 47 $ 734,580 $ 148,150 $ ( 11,064 ) 10,932 $ ( 119,808 ) $ 751,905 $ 113,381 $ 865,286 Net income (loss) - - - ( 16,445 ) - - - ( 16,445 ) 6,098 ( 10,347 ) Distributions declared - - - - - - - - ( 5,498 ) ( 5,498 ) Other comprehensive loss before reclassification - - - - 4,532 - - 4,532 - 4,532 Amounts reclassified from accumulated other comprehensive loss - - - - ( 4,485 ) - - ( 4,485 ) - ( 4,485 ) Other comprehensive income, net of tax - - - - 47 - - 47 - 47 Share of equity method investees other comprehensive loss arising during the period, net of tax - - - - 41,956 - - 41,956 - 41,956 Repurchase of common stock - - - - - 881 ( 11,479 ) ( 11,479 ) - ( 11,479 ) Stock-based compensation 343 - 36 - - - - 36 79 115 Balance, March 31, 2020 47,307 47 734,616 131,705 30,939 11,813 ( 131,287 ) 766,020 114,060 880,080 Amounts reclassified from accumulated other comprehensive income are as follows (in thousands): Three Months Ended March 31, Statements of Operations 2021 2020 Classification Gains (losses) on cash flow hedges: Commodity derivatives $ ( 15,188 ) $ 8,818 (1) Commodity derivatives 16,999 ( 2,901 ) (2) Total gains on cash flow hedges 1,811 5,917 (3) Income tax expense 434 1,432 (4) Amounts reclassified from accumulated other comprehensive income (loss) $ 1,377 $ 4,485 (1) Revenues (2) Costs of goods sold (3) Loss before income taxes and income from equity method investees (4) Income tax benefit (expense)

Income Taxes

Income Taxes3 Months Ended
Mar. 31, 2021
Income Taxes [Abstract]
Income Taxes12. INCOME TAXES The company records actual income tax expense or benefit during interim periods rather than on an annual effective tax rate method. Certain items are given discrete period treatment and the tax effect of those items are reported in full in the relevant interim period. Green Plains Partners is a limited partnership, which is treated as a flow-through entity for federal income tax purposes and is not subject to federal income taxes. As a result, the consolidated financial statements do not reflect income taxes on pre-tax income or loss attributable to the noncontrolling interest in the partnership. The CARES Act was signed into law on March 27, 2020. The CARES Act includes several significant business tax provisions including elimination of the taxable limit for certain net operating losses (“NOL”), allowing businesses to carry back NOLs arising in 2018, 2019 and 2020 to the five prior tax years, accelerating refunds of previously generated corporate AMT credits , and loosening the business interest limitation under §163(j) from 30 % to 50 %. The CARES Act also contains an employee retention credit to encourage employers to maintain headcounts even if employees cannot report to work because of issues related to the COVID-19. In the first quarter of 2020, the company recorded an income tax benefit related to the expected NOL carry back claim of $ 28.4 million which was an estimate based on the amount of NOL rated to the 2019 year-end tax provision. No additional tax benefit was recorded related to the CARES Act during the three months ended March 31, 2021. The company recorded income tax expense of $ 1.9 million for the three months ended March 31, 2021, compared with income tax benefit of $ 44.3 million for the same period in 2020. The increase in income tax expense recorded for the three months ended March 31, 2021 was primarily due to the recording of a valuation allowance against increases in deferred tax assets for the three months ended March 31, 2021 compared to the tax benefit recorded for the same period in 2020 to reflect the benefit associated with the carry back of the tax NOL generated in 2019 to the 2014 tax year under the CARES Act of 2020, as well as the release of a previously recorded valuation allowance against the 2019 NOL and other deferred tax assets. The amount of unrecognized tax benefits for uncertain tax positions was $ 51.4 million as of March 31, 2021 and $ 51.6 million as of December 31, 2020. The effective tax rate can be affected by variances in the estimates and amounts of taxable income among the various states, entities and activity types, realization of tax credits, adjustments from resolution of tax matters under review, valuation allowances and the company’s assessment of its liability for uncertain tax positions. Upon adoption of amended guidance in ASC 470-20 , the company reversed the remaining deferred tax liability of $ 9.2 million associated to the equity portion of previously issued convertible debt. As the company had recorded a full valuation allowance against its deferred tax assets, the reversal of the $ 9.2 million deferred tax liability would require an increase to the existing valuation allowance by the same amount which would normally be recorded through current income tax expense. However, as the change in the deferred tax liability is directly linked to the adoption of ASC 470-20 , which is accounted for as a cumulative effect adjustment, the required increase to the valuation allowance is recorded as part of the cumulative adjustment to stockholders’ equity and has no effect on the statement of operations.

Commitments And Contingencies

Commitments And Contingencies3 Months Ended
Mar. 31, 2021
Commitments And Contingencies [Abstract]
Commitments And Contingencies13. COMMITMENTS AND CONTINGENCIES Lease Expense The company leases certain facilities, parcels of land, and equipment, with remaining terms ranging from less than one year to 16.6 years. The land and facility leases include renewal options. The renewal options are included in the lease term only for those sites or locations in which they are reasonably certain to be renewed. Equipment renewals are not considered reasonably certain to be exercised as they typically renew with significantly different underlying terms. The company may sublease certain of its railcars to third parties on a short-term basis. The subleases are classified as operating leases, with the associated sublease income being recognized on a straight-line basis over the lease term. The components of lease expense are as follows (in thousands): Three Months Ended March 31, 2021 2020 Lease expense Operating lease expense $ 4,934 $ 4,945 Variable lease expense (1) 69 269 Total lease expense $ 5,003 $ 5,214 (1) Represents amounts incurred in excess of the minimum payments required for a certain building lease and for the handling and unloading of railcars for a certain land lease, offset by railcar lease abatements provided by the lessor when railcars are out of service during periods of maintenance or upgrade. Supplemental cash flow information related to operating leases is as follows (in thousands): Three Months Ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,832 $ 4,849 Right-of-use assets obtained in exchange for lease obligations: Operating leases 6,464 5,675 Right-of-use assets and lease obligations derecognized due to lease modifications: Operating leases 51 - Supplemental balance sheet information related to operating leases is as follows: March 31, 2021 December 31, 2020 Weighted average remaining lease term 6.0 years 6.2 years Weighted average discount rate 4.35 % 4.55 % Aggregate minimum lease payments under the operating lease agreements for the remainder of 2021 and in future years are as follows (in thousands): Year Ending December 31, Amount 2021 $ 14,354 2022 17,175 2023 13,488 2024 11,395 2025 7,849 Thereafter 15,634 Total 79,895 Less: Present value discount ( 12,586 ) Lease liabilities $ 67,309 The company has additional railcar operating leases that will commence in the second quarter of 2021 to replace expiring leases, with estimated future minimum lease commitments of approximately $ 1.7 million and lease terms of three to five years . The undiscounted amounts are not included in the tables above. Lease Revenue As described in Note 2 – Revenue , the majority of the partnership’s segment revenue is generated though their storage and throughput services and rail transportation services agreements with Green Plains Trade and are accounted for as lease revenue. Leasing revenues do not represent revenues recognized from contracts with customers under ASC 606, and are accounted for under ASC 842, Leases . Lease revenue associated with agreements with Green Plains Trade are eliminated upon consolidation. The remaining lease revenue is not material to the company. Refer to Note 2 – Revenue for further discussion on lease revenue. Commodities As of March 31, 2021, the company had contracted future purchases of grain, corn oil, natural gas, ethanol and distillers grains, valued at approximately $ 400.7 million. Legal The company is currently involved in litigation that has arisen during the ordinary course of business, but does not believe any pending litigation will have a material adverse effect on its financial position, results of operations or cash flows.

Related Party Transactions

Related Party Transactions3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions14. RELATED PARTY TRANSACTIONS Aircraft Leases The company entered into two agreements with an entity controlled by Wayne Hoovestol for the lease of two aircraft. Mr. Hoovestol is chairman of the company’s board of directors. Given the limited amount of travel during fiscal year 2020, the companies have agreed to defer the monthly payment until excess carryover hours are used. As of March 31, 2021, the company has approximately 54 hours of flight time available to be used. Once used, the company agreed to pay $ 11,588 per month for the combined use of up to 125 hours per year for the aircraft. Flight time in excess of 125 hours per year will incur additional hourly charges. Payments related to these leases totaled $ 21 thousand and $ 6 thousand during the three months ended March 31, 2021 and 2020, respectively. The company had $ 3 thousand in outstanding payables related to these agreements as of March 31, 2021 and $ 0 in outstanding payables related to these agreements as of December 31, 2020. Green Plains Cattle Company LLC The company engaged in certain related party transactions with GPCC, which was considered a related party until the fourth quarter of 2020 at which time the company’s remaining 50 % interest was sold. The company provided a variety of shared services to GPCC, including accounting and finance, payroll and human resources, information technology, legal, communications and treasury activities. The company reduced selling, general and administrative expenses by $ 0.4 million and related to shared services provided for the three months ended March 31, 2020. Green Plains Trade Group, a subsidiary of the company, enters into certain sale contracts with GPCC during the normal course of business. Revenues were $ 2.9 million for the three months ended March 31, 2020. Mr. Ejnar Knudsen, a member of the company’s board of directors, has an indirect ownership interest in GPCC of 0.0736 % by reason of his ownership in TGAM Agribusiness Fund LP. Based on the purchase price, the value of that ownership interest is approximately $ 0.1 million. Mr. Knudsen also is the CEO and partial owner of AGR Partners LLC which provides investment advisory services to TGAM Agribusiness Fund LP pursuant to a sub-advisory agreement between AGR Partners LLC and Nuveen Alternative Advisors LLC, which is the investment manager for TGAM Agribusiness Fund LP and receives usual and customary advisory fees.

Basis Of Presentation, Descri_2

Basis Of Presentation, Description Of Business And Summary Of Significant Accounting Policies (Policy)3 Months Ended
Mar. 31, 2021
Basis Of Presentation, Description Of Business And Summary Of Significant Accounting Policies [Abstract]
Consolidated Financial StatementsConsolidated Financial Statements The consolidated financial statements include the company’s accounts and all significant intercompany balances and transactions are eliminated. Unconsolidated entities are included in the financial statements on an equity basis. T he company owns a 48.9 % limited partner interest and a 2.0 % general partner interest in Green Plains Partners LP. Public investors own the remaining 49.1 % limited partner interest in the partnership. The company determined that the limited partners in the partnership with equity at risk lack the power, through voting rights or similar rights, to direct the activities that most significantly impact partnership’s economic performance; therefore, the partnership is considered a variable interest entity. The company, through its ownership of the general partner interest in the partnership, has the power to direct the activities that most significantly affect economic performance and is obligated to absorb losses and has the right to receive benefits that could be significant to the partnership. Therefore, the company is considered the primary beneficiary and consolidates the partnership in the company’s financial statements. The assets of the partnership cannot be used by the company for general corporate purposes. The partnership’s consolidated total assets as of March 31, 2021 and December 31, 2020, excluding intercompany balances, are $ 91.3 million and $ 91.2 million, respectively, and primarily consist of property and equipment, operating lease right-of-use assets and goodwill . The partnership’s consolidated total liabilities as of March 31, 2021 and December 31, 2020, excluding intercompany balances, are $ 116.0 million and $ 151.2 million, respectively, which primarily consist of current maturities of long-term debt as discussed in Note 8 – Debt and operating lease liabilities. The liabilities recognized as a result of consolidating the partnership do not represent additional claims on our general assets. The company also owns a majority interest in BioProcess Algae, a joint venture formed in 2008 as well as a majority interest in Fluid Quip Technologies, LLC with their results being consolidated in our consolidated financial statements. The accompanying unaudited consolidated financial statements are prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Because they do not include all of the information and notes required by GAAP, the consolidated financial statements should be read in conjunction with the company’s annual report on Form 10-K for the year ended December 31, 2020, filed with the SEC on February 16, 2021. The unaudited financial information reflects adjustments, which are, in the opinion of management, necessary for a fair presentation of results of operations, financial position and cash flows for the periods presented. The adjustments are normal and recurring in nature, unless otherwise noted. Interim period results are not necessarily indicative of the results to be expected for the entire year.
ReclassificationsReclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications did not affect total revenues, costs and expenses or net income. See Note 8 – Debt and Note 11 – Stockholders’ Equity for further details.
Use of Estimates in the Preparation of Consolidated Financial StatementsUse of Estimates in the Preparation of Consolidated Financial Statements The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The company bases its estimates on historical experience and assumptions it believes are proper and reasonable under the circumstances and regularly evaluates the appropriateness of its estimates and assumptions. Actual results could differ from those estimates. Key accounting policies, including but not limited to those relating to revenue recognition, carrying value of intangible assets, operating leases, impairment of long-lived assets and goodwill, derivative financial instruments, accounting for income taxes and assets acquired and liabilities assumed in acquisitions, are impacted significantly by judgments, assumptions and estimates used in the preparation of the consolidated financial statements.
Description of BusinessDescription of Business The company operates within four business segments: (1) ethanol production, which includes the production of ethanol, including industrial-grade alcohol, distillers grains, Ultra-High Protein and corn oil, (2) agribusiness and energy services, which includes grain handling and storage, commodity marketing and merchant trading for company-produced and third-party ethanol, distillers grains, corn oil, natural gas and other commodities, (3) food and ingredients, which includes food-grade corn oil and (4) partnership, which includes fuel storage and transportation services. The food and ingredients segment, had no activity during the three months ended March 31, 2021 and 2020.
Cash and Cash EquivalentsCash and Cash Equivalents Cash and cash equivalents includes bank deposits as well as short-term, highly liquid investments with original maturities of three months or less.
Restricted CashRestricted Cash The company has restricted cash, which can only be used for funding letters of credit, for payment towards a revolving credit agreement, or for capital expenditures as specified in certain credit facility agreements. Restricted cash also includes cash margins and securities pledged to commodity exchange clearinghouses and at times, funds in escrow related to acquisition and disposition activities. To the degree these segregated balances are cash and cash equivalents, they are considered restricted cash on the consolidated balance sheets.
Revenue RecognitionRevenue Recognition The company recognizes revenue when obligations under the terms of a contract with a customer are satisfied. Generally this occurs with the transfer of control of products or services. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods or providing services. Sales, value add, and other taxes the company collects concurrent with revenue-producing activities are excluded from revenue. Sales of ethanol, distillers grains, corn oil, natural gas and other commodities by the company’s marketing business are recognized when obligations under the terms of a contract with a customer are satisfied. Generally, this occurs with the transfer of control of products or services. Revenues related to marketing for third parties are presented on a gross basis as the company controls the product prior to the sale to the end customer, takes title of the product and has inventory risk. Unearned revenue is recorded for goods in transit when the company has received payment but control has not yet been transferred to the customer. Revenues for receiving, storing, transferring and transporting ethanol and other fuels are recognized when the product is delivered to the customer. The company routinely enters into physical-delivery energy commodity purchase and sale agreements. At times, the company settles these transactions by transferring its obligations to other counterparties rather than delivering the physical commodity. Energy trading transactions are reported net as a component of revenue. Revenues include net gains or losses from derivatives related to products sold while cost of goods sold includes net gains or losses from derivatives related to commodities purchased. Revenues also include realized gains and losses on related derivative financial instruments and reclassifications of realized gains and losses on cash flow hedges from accumulated other comprehensive income or loss. Sales of products, including agricultural commodities, are recognized when control of the product is transferred to the customer, which depends on the agreed upon shipment or delivery terms. Revenues related to grain merchandising are presented gross and include shipping and handling, which is also a component of cost of goods sold. Revenues from grain storage are recognized over time as the services are rendered. Revenues related to the design, engineering and installation of equipment are recognized over the term of the related contracts as equipment is delivered and installed and services are performed. A substantial portion of the partnership revenues are derived from fixed-fee commercial agreements for storage, terminal or transportation services. The partnership recognizes revenue upon transfer of control of product from its storage tanks and fuel terminals, when railcar volumetric capacity is provided, and as truck transportation services are performed. To the extent shortfalls associated with minimum volume commitments in the previous four quarters continue to exist, volumes in excess of the minimum volume commitment are applied to those shortfalls. Remaining excess volumes generating operating lease revenue are recognized as incurred.
Shipping and Handling CostsShipping and Handling Costs The company accounts for shipping and handling activities related to contracts with customers as costs to fulfill its promise to transfer the associated products. Accordingly, the company records customer payments associated with shipping and handling costs as a component of revenue, and classifies such costs as a component of cost of goods sold.
Cost of Goods SoldCost of Goods Sold Cost of goods sold includes direct labor, materials, shipping and plant overhead costs. Direct labor includes all compensation and related benefits of non-management personnel involved in ethanol production. Grain purchasing and receiving costs, excluding labor costs for grain buyers and scale operators, are also included in cost of goods sold. Materials include the cost of corn feedstock, denaturant, and process chemicals. Corn feedstock costs include gains and losses on related derivative financial instruments not designated as cash flow hedges, inbound freight charges, inspection costs and transfer costs, as well as reclassifications of gains and losses on cash flow hedges from accumulated other comprehensive income or loss. Plant overhead consists primarily of plant utilities, repairs and maintenance and outbound freight charges. Shipping costs incurred by the company, including railcar costs, are also reflected in cost of goods sold. The company uses exchange-traded futures and options contracts and forward purchase and sale contracts to attempt to minimize the effect of price changes on ethanol, grain and natural gas. Exchange-traded futures and options contracts are valued at quoted market prices and settled predominantly in cash. The company is exposed to loss when counterparties default on forward purchase and sale contracts. Grain inventories held for sale and forward purchase and sale contracts are valued at market prices when available or other market quotes adjusted for basis differences, primarily in transportation, between the exchange-traded market and local market where the terms of the contract is based. Changes in forward purchase contracts and exchange-traded futures and options contracts are recognized as a component of cost of goods sold.
Operations and Maintenance ExpensesOperations and Maintenance Expenses In the partnership segment, transportation expenses represent the primary component of operations and maintenance expenses. Transportation expenses include railcar leases, freight and shipping of the company’s ethanol and co-products, as well as costs incurred storing ethanol at destination terminals.
Derivative Financial InstrumentsDerivative Financial Instruments The company uses various derivative financial instruments, including exchange-traded futures and exchange-traded and over-the-counter options contracts, to attempt to minimize risk and the effect of commodity price changes including but not limited to, corn, ethanol, natural gas, soybean meal and soybean oil. The company monitors and manages this exposure as part of its overall risk management policy to reduce the adverse effect market volatility may have on its operating results. The company may hedge these commodities as one way to mitigate risk; however, there may be situations when these hedging activities themselves result in losses. By using derivatives to hedge exposures to changes in commodity prices, the company is exposed to credit and market risk. The company’s exposure to credit risk includes the counterparty’s failure to fulfill its performance obligations under the terms of the derivative contract. The company minimizes its credit risk by entering into transactions with high quality counterparties, limiting the amount of financial exposure it has with each counterparty and monitoring their financial condition. Market risk is the risk that the value of the financial instrument might be adversely affected by a change in commodity prices or interest rates. The company manages market risk by incorporating parameters to monitor exposure within its risk management strategy, which limits the types of derivative instruments and strategies the company can use and the degree of market risk it can take using derivative instruments. The company evaluates its physical delivery contracts to determine if they qualify for normal purchase or sale exemptions which are expected to be used or sold over a reasonable period in the normal course of business. Contracts that do not meet the normal purchase or sale criteria are recorded at fair value. Changes in fair value are recorded in operating income unless the contracts qualify for, and the company elects, cash flow hedge accounting treatment. Certain qualifying derivatives related to ethanol production and agribusiness and energy services are designated as cash flow hedges. The company evaluates the derivative instrument to ascertain its effectiveness prior to entering into cash flow hedges. Unrealized gains and losses are reflected in accumulated other comprehensive income or loss until the gain or loss from the underlying hedged transaction is realized and the physical transaction is completed. When it becomes probable a forecasted transaction will not occur, the cash flow hedge treatment is discontinued, which affects earnings. These derivative financial instruments are recognized in current assets or current liabilities at fair value. At times, the company hedges its exposure to changes in inventory values and designates qualifying derivatives as fair value hedges. The carrying amount of the hedged inventory is adjusted in the current period for changes in fair value. Estimated fair values carried at market are based on exchange-quoted prices, adjusted as appropriate for regional location basis values which represent differences in local markets including transportation as well as quality or grade differences. Basis values are generally determined using inputs from broker quotations or other market transactions. However a portion of the value may be derived using unobservable inputs. Ineffectiveness of the hedges is recognized in the current period to the extent the change in fair value of the inventory is not offset by the change in fair value of the derivative.
Recent Accounting PronouncementsRecent Accounting Pronouncements On January 1, 2021, the company early adopted the amended guidance in ASC 470-20 , Debt - Debt with Conversion and Other Options and ASC 815-40, Derivatives and Hedging - Contracts in Entity’s Own Equity - Accounting for Convertible Instruments and Contracts in an Equity’s Own Equity. The adoption of this guidance resulted in a $ 49.5 million decrease in additional paid-in capital, an $ 11.4 million increase in retained earnings and a $ 38.1 million increase in long-term debt, which included a $ 39.4 million increase in debt principal offset by a $ 1.3 million increase in debt issuance costs, resulting from amounts previously bifurcated to equity being reclassified to debt. See Note 8 – Debt and Note 11 – Stockholders’ Equity for further details. In March 2020, the FASB issued amended guidance in ASC 848, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting, and a subsequent update in January 2021, which provides optional expedients and exceptions to U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burden related to the expected market transition from the LIBOR and other interbank offered rates to alternative reference rates. The expedients and exceptions provided by the amended guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The guidance is effective upon issuance and to be applied prospectively from any date beginning March 12, 2020 through December 31, 2022. The amended guidance is not expected to have a material impact on the company’s consolidated financial statements. In December 2019, the FASB issued amended guidance in ASC 740, Income Taxes - Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 74 0. The amendments also improve consistent application of and simplify U.S. GAAP for other areas of ASC 740 by clarifying and amending existing guidance. The amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted. The company is evaluating the impact of this standard on its consolidated financial statements.

Revenue (Tables)

Revenue (Tables)3 Months Ended
Mar. 31, 2021
Revenue [Abstract]
Disaggregation Of Revenue By Major SourceThe following tables disaggregate revenue by major source (in thousands): Three Months Ended March 31, 2021 Ethanol Production Agribusiness & Energy Services Partnership Eliminations Total Revenues: Revenues from contracts with customers under ASC 606: Ethanol $ - $ - $ - $ - $ - Distillers grains 3,613 - - - 3,613 Corn oil - - - - - Service revenues 563 - 1,057 - 1,620 Other 4,062 826 - - 4,888 Intersegment revenues - - 2,006 ( 2,006 ) - Total revenues from contracts with customers 8,238 826 3,063 ( 2,006 ) 10,121 Revenues from contracts accounted for as derivatives under ASC 815 (1) : Ethanol 289,585 75,912 - - 365,497 Distillers grains 95,694 9,239 - - 104,933 Corn oil 14,540 4,811 - - 19,351 Grain - 12,170 - - 12,170 Other 15,665 25,863 - - 41,528 Intersegment revenues - 5,123 - ( 5,123 ) - Total revenues from contracts accounted for as derivatives 415,484 133,118 - ( 5,123 ) 543,479 Leasing revenues under ASC 842 (2) : - - 17,343 ( 17,303 ) 40 Total Revenues $ 423,722 $ 133,944 $ 20,406 $ ( 24,432 ) $ 553,640 Three Months Ended March 31, 2020 Ethanol Production Agribusiness & Energy Services Partnership Eliminations Total Revenues: Revenues from contracts with customers under ASC 606: Ethanol $ - $ - $ - $ - $ - Distillers grains 16,475 - - - 16,475 Service revenues - - 1,179 - 1,179 Other 2,959 390 - - 3,349 Intersegment revenues 25 - 2,074 ( 2,099 ) - Total revenues from contracts with customers 19,459 390 3,253 ( 2,099 ) 21,003 Revenues from contracts accounted for as derivatives under ASC 815 (1) : Ethanol 367,092 126,093 - - 493,185 Distillers grains 72,527 4,709 - - 77,236 Corn oil 14,684 5,730 - - 20,414 Grain 6 7,950 - - 7,956 Other 1,957 11,009 - - 12,966 Intersegment revenues - 7,308 - ( 7,308 ) - Total revenues from contracts accounted for as derivatives 456,266 162,799 - ( 7,308 ) 611,757 Leasing revenues under ASC 842 (2) : - - 17,018 ( 16,909 ) 109 Total Revenues $ 475,725 $ 163,189 $ 20,271 $ ( 26,316 ) $ 632,869 (1) Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC 606, where the company recognizes revenue when control of the inventory is transferred within the meaning of ASC 606 as required by ASC 610-20, Gains and Losses from Derecognition of Nonfinancial Assets . (2) Leasing revenues do not represent revenues recognized from contracts with customers under ASC 606, and are accounted for under ASC 842, Leases .

Acquisitions And Dispositions (

Acquisitions And Dispositions (Tables)3 Months Ended
Mar. 31, 2021
Acquisitions And Dispositions [Abstract]
Amounts Of Identifiable Assets Disposed And Liabilities Relinquished Amounts of Identifiable Assets Disposed and Liabilities Relinquished Inventory $ 10,400 Prepaid expenses and other 632 Property and equipment 24,285 Accrued and other liabilities ( 415 ) Total identifiable net assets disposed $ 34,902

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule Of Assets And Liabilities Fair ValueThe company’s assets and liabilities by level are as follows (in thousands): Fair Value Measurements at March 31, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs (Level 1) (Level 2) Total Assets: Cash and cash equivalents $ 446,833 $ - $ 446,833 Restricted cash 207,593 - 207,593 Inventories carried at market - 69,132 69,132 Unrealized gains on derivatives - 19,365 19,365 Other assets 111 42 153 Total assets measured at fair value $ 654,537 $ 88,539 $ 743,076 Liabilities: Accounts payable (1) $ - $ 20,281 $ 20,281 Unrealized losses on derivatives - 6,313 6,313 Total liabilities measured at fair value $ - $ 26,594 $ 26,594 Fair Value Measurements at December 31, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs (Level 1) (Level 2) Total Assets: Cash and cash equivalents $ 233,860 $ - $ 233,860 Restricted cash 40,950 - 40,950 Inventories carried at market - 77,900 77,900 Unrealized gains on derivatives - 21,956 21,956 Other assets 112 29 141 Total assets measured at fair value $ 274,922 $ 99,885 $ 374,807 Liabilities: Accounts payable (1) $ - $ 19,355 $ 19,355 Unrealized losses on derivatives - 10,997 10,997 Total liabilities measured at fair value $ - $ 30,352 $ 30,352 (1) Accounts payable is generally stated at historical amounts with the exception of $ 20.3 million and $ 19.4 million at March 31, 2021 and December 31, 2020, respectively, related to certain delivered inventory for which the payable fluctuates based on changes in commodity prices. These payables are hybrid financial instruments for which the company has elected the fair value option.

Segment Information (Tables)

Segment Information (Tables)3 Months Ended
Mar. 31, 2021
Segment Information [Abstract]
Summary Of Financial DataThe following tables set forth certain financial data for the company’s operating segments (in thousands): Three Months Ended March 31, 2021 2020 Revenues: Ethanol production: Revenues from external customers $ 423,722 $ 475,700 Intersegment revenues - 25 Total segment revenues 423,722 475,725 Agribusiness and energy services: Revenues from external customers 128,821 155,881 Intersegment revenues 5,123 7,308 Total segment revenues 133,944 163,189 Partnership: Revenues from external customers 1,097 1,288 Intersegment revenues 19,309 18,983 Total segment revenues 20,406 20,271 Revenues including intersegment activity 578,072 659,185 Intersegment eliminations ( 24,432 ) ( 26,316 ) Total Revenues $ 553,640 $ 632,869 Refer to Note 2 - Revenue , for further disaggregation of revenue by operating segment. Three Months Ended March 31, 2021 2020 Cost of goods sold: Ethanol production $ 415,525 $ 489,150 Agribusiness and energy services 116,074 156,502 Intersegment eliminations ( 22,366 ) ( 28,424 ) $ 509,233 $ 617,228 Three Months Ended March 31, 2021 2020 Operating income (loss): Ethanol production (1) $ ( 20,320 ) $ ( 60,781 ) Agribusiness and energy services 13,346 2,560 Partnership 12,871 12,430 Intersegment eliminations ( 2,066 ) 2,133 Corporate activities (2) 27,516 ( 10,670 ) $ 31,347 $ ( 54,328 ) (1) Operating loss for ethanol production includes a goodwill impairment charge of $ 24.1 million for the three months ended March 31, 2020. (2) Corporate activities for the three months ended March 31, 2021 included a $ 36.9 million pretax gain on sale of assets. Three Months Ended March 31, 2021 2020 Depreciation and amortization: Ethanol production $ 18,528 $ 15,898 Agribusiness and energy services 607 553 Partnership 887 961 Corporate activities 659 668 $ 20,681 $ 18,080
Summary Of Total Assets For Operating Segments March 31, 2021 December 31, 2020 Total assets (1) : Ethanol production $ 1,028,817 $ 900,963 Agribusiness and energy services 403,628 378,720 Partnership 91,261 91,205 Corporate assets 454,650 228,074 Intersegment eliminations ( 33,730 ) ( 20,045 ) $ 1,944,626 $ 1,578,917 (1) Asset balances by segment exclude intercompany balances .

Inventories (Tables)

Inventories (Tables)3 Months Ended
Mar. 31, 2021
Inventories [Abstract]
Schedule of Inventories March 31, 2021 December 31, 2020 Finished goods $ 87,591 $ 89,223 Commodities held for sale 25,858 40,147 Raw materials 94,154 90,800 Work-in-process 16,206 13,201 Supplies and parts 34,950 36,120 $ 258,759 $ 269,491

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)3 Months Ended
Mar. 31, 2021
Derivative Financial Instruments [Abstract]
Schedule Of Fair Values Of Derivative Financial Instruments Asset Derivatives' Liability Derivatives' Fair Value Fair Value March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Derivative financial instruments $ 19,365 $ 21,956 (1) $ 6,313 (2) $ 10,997 (3) Other assets 42 29 - - Total $ 19,407 $ 21,985 $ 6,313 $ 10,997 (1) At December 31, 2020, derivative financial instruments, as reflected on the balance sheet, includes net unrealized gains on exchange traded futures and options contracts of $ 3.3 million, which include $ 2.8 million of net unrealized gains on derivative financial instruments designated as cash flow hedging instruments. (2) At March 31, 2021, derivative financial instruments, as reflected on the balance sheet, includes net unrealized losses on exchange traded futures and options contracts of $ 34.8 million, which included $ 24.8 million of net unrealized losses on derivative financial instruments designated as cash flow hedging instruments. (3) At December 31, 2020, derivative financial instruments, as reflected on the balance sheet, includes net unrealized losses on exchange traded futures and options contracts of $ 9.3 million, none of which were designated as cash flow hedging instruments.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance Effect of Derivative Instruments on Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income The gains or losses recognized in income and other comprehensive income related to the company’s derivative financial instruments and the line items on the consolidated financial statements where they are reported are as follows (in thousands): Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Location of Gain (Loss) Reclassified from Accumulated Other Three Months Ended March 31, Comprehensive Income into Income 2021 2020 Revenues $ ( 15,188 ) $ 8,818 Cost of goods sold 16,999 ( 2,901 ) Net gain recognized in loss before income taxes $ 1,811 $ 5,917 Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives Gain (Loss) Recognized in Other Comprehensive Income on Three Months Ended March 31, Derivatives 2021 2020 Commodity contracts $ ( 6,376 ) $ 5,979 Amount of Gain (Loss) Location of Gain (Loss) Recognized in Income on Derivatives Derivatives Not Designated Recognized in Income Three Months Ended March 31, as Hedging Instruments on Derivatives 2021 2020 Commodity contracts Revenues $ ( 40,794 ) $ 45,407 Commodity contracts Costs of goods sold 8,563 ( 2,679 ) Net gain (loss) recognized in loss before income taxes $ ( 32,231 ) $ 42,728 The following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for the fair value hedged items (in thousands): March 31, 2021 December 31, 2020 Line Item in the Consolidated Balance Sheet in Which the Hedged Item is Included Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Inventories $ 45,378 $ 12,825 $ 53,963 $ 9,041 Effect of Cash Flow and Fair Value Hedge Accounting on the Statements of Operations The effect of cash flow and fair value hedges and the line items on the consolidated statements of operations where they are reported are as follows (in thousands): Location and Amount of Gain (Loss) Recognized in Income on Cash Flow and Fair Value Hedging Relationships for the Three Months Ended March 31, 2021 2020 Revenue Cost of Goods Sold Revenue Cost of Goods Sold Gain (loss) on cash flow hedging relationships: Commodity contracts: Amount of gain reclassified from accumulated other comprehensive income into income $ ( 15,188 ) $ 16,999 $ 8,818 $ ( 2,901 ) Gain (loss) on fair value hedging relationships: Commodity contracts: Hedged item - 7,967 - ( 7,594 ) Derivatives designated as hedging instruments - ( 7,108 ) - 8,114 Total amounts of income and expense line items presented in the statement of operations in which the effects of cash flow or fair value hedges are recorded $ ( 15,188 ) $ 17,858 $ 8,818 $ ( 2,381 )
Schedule Of Open Position Derivative Financial Instruments Exchange Traded (1) Non-Exchange Traded (2) Derivative Instruments Net Long & (Short) Long (Short) Unit of Measure Commodity Futures ( 22,300 ) Bushels Corn and Soybeans Futures 28,965 (3) Bushels Corn Futures ( 7,255 ) (4) Bushels Corn Futures ( 119,490 ) Gallons Ethanol Futures ( 80,346 ) (3) Gallons Ethanol Futures 15,238 MmBTU Natural Gas Futures ( 848 ) (4) MmBTU Natural Gas Futures 425 Tons Soybean Meal Futures ( 24,000 ) Pounds Soybean Oil Options 109 Tons Soybean Meal Options 63,159 Pounds Soybean Oil Options 10,995 Bushels Corn Options ( 10,719 ) Gallons Ethanol Options 76 MmBTU Natural Gas Forwards 49,595 ( 62 ) Bushels Corn and Soybeans Forwards - ( 155,333 ) Gallons Ethanol Forwards 126 ( 398 ) Tons Distillers Grains Forwards 24,816 ( 18,000 ) Pounds Corn Oil Forwards 15,658 ( 1,029 ) MmBTU Natural Gas (1) Exchange traded futures and options are presented on a net long and (short) position basis. Options are presented on a delta-adjusted basis. (2) Non-exchange traded forwards are presented on a gross long and (short) position basis including both fixed-price and basis contracts. (3) Futures used for cash flow hedges. (4) Futures used for fair value hedges.

Debt (Tables)

Debt (Tables)3 Months Ended
Mar. 31, 2021
Debt [Abstract]
Schedule Of The Components Of Long-Term Debt March 31, 2021 December 31, 2020 Corporate: (1) 2.25 % convertible notes due 2027 (2) $ 230,000 $ - 4.00 % convertible notes due 2024 (3) 115,000 89,125 4.125 % convertible notes due 2022 (4) 34,316 156,441 Green Plains SPE LLC: $ 125.0 million junior secured mezzanine notes due 2026 (5) 125,000 - Green Plains Wood River and Green Plains Shenandoah: $ 75.0 million delayed draw loan agreement (6) 30,000 30,000 Green Plains Partners: $ 135.0 million credit facility (7) 62,800 100,000 Other 15,793 15,936 Total book value of long-term debt 612,909 391,502 Unamortized debt issuance costs ( 13,587 ) ( 6,151 ) Less: current maturities of long-term debt ( 61,442 ) ( 98,052 ) Total long-term debt $ 537,880 $ 287,299 (1) See discussion on early adoption of the amended guidance in ASC 470-20 on the previous page. (2) Includes $ 7.4 million of unamortized debt issuance costs as of March 31, 2021. (3) Includes $ 2.8 million and $ 2.2 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively. (4) See discussion below regarding the repurchase of convertible notes due in 2022. Includes $ 0.3 million and $ 1.3 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively. (5) Includes $ 1.0 million of unamortized debt issuance costs as of March 31, 2021 . (6) Includes $ 0.3 million of unamortized debt issuance costs as of both March 31, 2021 and December 31, 2020 . (7) Includes $ 1.7 million and $ 2.3 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively.
Schedule Of Short-term Notes Payable And Other Borrowings March 31, 2021 December 31, 2020 Green Plains Trade: $ 300.0 million revolver $ 70,270 $ 79,251 Green Plains Grain: $ 100.0 million revolver 49,000 38,700 $ 50.0 million inventory financing 32,277 - Green Plains Commodity Management: $ 30.0 million hedge line 22,557 21,682 Other - 1,175 $ 174,104 $ 140,808

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)3 Months Ended
Mar. 31, 2021
Stock-Based Compensation [Abstract]
Schedule Of Non-Vested Stock Award and DSU Activity Non-Vested Shares and Deferred Stock Units Weighted- Average Grant- Date Fair Value Weighted-Average Remaining Vesting Term (in years) Non-Vested at December 31, 2020 1,028,739 $ 9.15 Granted 295,878 26.25 Forfeited ( 6,221 ) 11.79 Vested ( 293,715 ) 13.71 Non-Vested at March 31, 2021 1,024,681 $ 12.76 2.4
The Weighted Average Assumptions Used by the Company in Applying the Monte Carlo Valuation Model for Performance Share Grants FY 2019 Performance Awards Risk-free interest rate 2.45 % Dividend yield 3.13 % Expected volatility 41.69 % Monte Carlo valuation 99.62 % Closing stock price on the date of grant $ 15.34
Schedule Of Non-Vested Performance Share Award Activity Performance Shares Weighted- Average Grant- Date Fair Value Weighted-Average Remaining Vesting Term (in years) Non-Vested at December 31, 2020 517,969 $ 10.82 Granted 179,555 26.27 Forfeited ( 29,302 ) 18.15 Vested ( 87,915 ) 17.68 Non-Vested at March 31, 2021 580,307 $ 14.17 2.5

Earnings Per Share (Tables)

Earnings Per Share (Tables)3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule Of Basic And Diluted Earnings Per Share Three Months Ended March 31, 2021 2020 EPS - basic and diluted: Net loss attributable to Green Plains $ ( 6,545 ) $ ( 16,445 ) Weighted average shares outstanding - basic and diluted 37,695 34,665 EPS - basic and diluted $ ( 0.17 ) $ ( 0.47 ) Anti-dilutive weighted-average convertible debt and stock-based compensation (1) 13,714 13,926 (1) The effect related to the company’s convertible debt, outstanding warrants and stock-based compensation awards have been excluded from diluted EPS for the periods presented as the inclusion of these shares would have been anti-dilutive.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)3 Months Ended
Mar. 31, 2021
Stockholders' Equity [Abstract]
Schedule Of Stockholders' Equity Accum. Total Additional Other Green Plains Non- Total Common Stock Paid-in Retained Comp. Treasury Stock Stockholders' Controlling Stockholders' Shares Amount Capital Earnings Income Shares Amount Equity Interests Equity Balance, December 31, 2020 47,471 $ 47 $ 740,889 $ 39,375 $ ( 2,172 ) 11,813 $ ( 131,287 ) $ 646,852 $ 129,812 $ 776,664 Impact of ASC 470-20 adoption (1) - - ( 49,496 ) 11,418 - - - ( 38,078 ) - ( 38,078 ) Balance, January 1, 2021 47,471 47 691,393 50,793 ( 2,172 ) 11,813 ( 131,287 ) 608,774 129,812 738,586 Net income (loss) - - - ( 6,545 ) - - - ( 6,545 ) 4,566 ( 1,979 ) Cash distributions declared - - - - - - - - ( 1,395 ) ( 1,395 ) Other comprehensive loss before reclassification - - - - ( 4,849 ) - - ( 4,849 ) - ( 4,849 ) Amounts reclassified from accumulated other comprehensive loss - - - - ( 1,377 ) - - ( 1,377 ) - ( 1,377 ) Other comprehensive income, net of tax - - - - ( 6,226 ) - - ( 6,226 ) - ( 6,226 ) Investment in subsidiary - - - - - - - - 3,330 3,330 Issuance of warrants - - 3,431 - - - - 3,431 ( 3,431 ) - Issuance of common stock for cash at $ 23.00 per share, net of fees 8,752 9 191,125 - - - - 191,134 - 191,134 Stock-based compensation 230 - ( 3,000 ) - - - - ( 3,000 ) 79 ( 2,921 ) Balance, March 31, 2021 56,453 $ 56 $ 882,949 $ 44,248 $ ( 8,398 ) 11,813 $ ( 131,287 ) $ 787,568 $ 132,961 $ 920,529 (1) See Note 1 – Recent Accounting Pronouncements and Note 8 – Debt for discussion on adoption of ASC 470-20 . Accum. Total Additional Other Green Plains Non- Total Common Stock Paid-in Retained Comp. Treasury Stock Stockholders' Controlling Stockholders' Shares Amount Capital Earnings Income Shares Amount Equity Interests Equity Balance, January 1, 2020 46,964 $ 47 $ 734,580 $ 148,150 $ ( 11,064 ) 10,932 $ ( 119,808 ) $ 751,905 $ 113,381 $ 865,286 Net income (loss) - - - ( 16,445 ) - - - ( 16,445 ) 6,098 ( 10,347 ) Distributions declared - - - - - - - - ( 5,498 ) ( 5,498 ) Other comprehensive loss before reclassification - - - - 4,532 - - 4,532 - 4,532 Amounts reclassified from accumulated other comprehensive loss - - - - ( 4,485 ) - - ( 4,485 ) - ( 4,485 ) Other comprehensive income, net of tax - - - - 47 - - 47 - 47 Share of equity method investees other comprehensive loss arising during the period, net of tax - - - - 41,956 - - 41,956 - 41,956 Repurchase of common stock - - - - - 881 ( 11,479 ) ( 11,479 ) - ( 11,479 ) Stock-based compensation 343 - 36 - - - - 36 79 115 Balance, March 31, 2020 47,307 47 734,616 131,705 30,939 11,813 ( 131,287 ) 766,020 114,060 880,080
Reclassification From Accumulated Other Comprehensive Income (Loss) Three Months Ended March 31, Statements of Operations 2021 2020 Classification Gains (losses) on cash flow hedges: Commodity derivatives $ ( 15,188 ) $ 8,818 (1) Commodity derivatives 16,999 ( 2,901 ) (2) Total gains on cash flow hedges 1,811 5,917 (3) Income tax expense 434 1,432 (4) Amounts reclassified from accumulated other comprehensive income (loss) $ 1,377 $ 4,485 (1) Revenues (2) Costs of goods sold (3) Loss before income taxes and income from equity method investees (4) Income tax benefit (expense)

Commitments And Contingencies (

Commitments And Contingencies (Tables)3 Months Ended
Mar. 31, 2021
Commitments And Contingencies [Abstract]
Components Of Lease Expense Three Months Ended March 31, 2021 2020 Lease expense Operating lease expense $ 4,934 $ 4,945 Variable lease expense (1) 69 269 Total lease expense $ 5,003 $ 5,214 (1) Represents amounts incurred in excess of the minimum payments required for a certain building lease and for the handling and unloading of railcars for a certain land lease, offset by railcar lease abatements provided by the lessor when railcars are out of service during periods of maintenance or upgrade.
Supplemental Cash Flow Information Related To Operating Leases Three Months Ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,832 $ 4,849 Right-of-use assets obtained in exchange for lease obligations: Operating leases 6,464 5,675 Right-of-use assets and lease obligations derecognized due to lease modifications: Operating leases 51 -
Supplemental Balance Sheet Information Related To Operating Leases March 31, 2021 December 31, 2020 Weighted average remaining lease term 6.0 years 6.2 years Weighted average discount rate 4.35 % 4.55 %
Schedule of Aggregate Minimum Lease Payments Year Ending December 31, Amount 2021 $ 14,354 2022 17,175 2023 13,488 2024 11,395 2025 7,849 Thereafter 15,634 Total 79,895 Less: Present value discount ( 12,586 ) Lease liabilities $ 67,309

Basis Of Presentation, Descri_3

Basis Of Presentation, Description Of Business And Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in ThousandsJul. 01, 2015Mar. 31, 2021Dec. 31, 2020
Variable Interest Entity [Line Items]
Asset[1] $ 1,944,626 $ 1,578,917
Total liabilities1,024,097 802,253
Additional paid-in capital882,949 740,889
Long-term debt537,880 287,299
Green Plains Partners L.P. [Member]
Variable Interest Entity [Line Items]
Asset91,300 91,200
Total liabilities $ 116,000 151,200
IPO [Member] | Limited Partner [Member]
Variable Interest Entity [Line Items]
Ownership interest, public, percentage49.10%
IPO [Member] | Limited Partner [Member] | Parent Company [Member]
Variable Interest Entity [Line Items]
Ownership interest, percentage48.90%
IPO [Member] | General Partner [Member] | Parent Company [Member]
Variable Interest Entity [Line Items]
Ownership interest, percentage2.00%
Restatement Adjustment [Member]
Variable Interest Entity [Line Items]
Additional paid-in capital(49,500)
Long-term debt38,100
Debt principal offset39,400
Debt issuance costs $ 1,300
[1]Asset balances by segment exclude intercompany balances .

Revenue (Narrative) (Details)

Revenue (Narrative) (Details)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Revenue Benchmark [Member] | Customer A [Member] | Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage13.00%19.00%

Revenue (Disaggregation Of Reve

Revenue (Disaggregation Of Revenue By Major Source) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers $ 10,121 $ 21,003
Total revenues from contracts accounted for as derivatives[1]543,479 611,757
Leasing revenues under ASC 842[2]40 109
Total Revenues553,640 632,869
Ethanol [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]365,497 493,185
Distillers Grains [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers3,613 16,475
Total revenues from contracts accounted for as derivatives[1]104,933 77,236
Corn Oil [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]19,351 20,414
Grain [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]12,170 7,956
Service Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers1,620 1,179
Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers4,888 3,349
Total revenues from contracts accounted for as derivatives[1]41,528 12,966
Ethanol Production [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers8,238 19,459
Total revenues from contracts accounted for as derivatives[1]415,484 456,266
Total Revenues423,722 475,725
Ethanol Production [Member] | Ethanol [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]289,585 367,092
Ethanol Production [Member] | Distillers Grains [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers3,613 16,475
Total revenues from contracts accounted for as derivatives[1]95,694 72,527
Ethanol Production [Member] | Corn Oil [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]14,540 14,684
Ethanol Production [Member] | Grain [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]6
Ethanol Production [Member] | Service Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers563
Ethanol Production [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers4,062 2,959
Total revenues from contracts accounted for as derivatives[1]15,665 1,957
Ethanol Production [Member] | Intersegment Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers25
Agribusiness and Energy Services [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers826 390
Total revenues from contracts accounted for as derivatives[1]133,118 162,799
Total Revenues133,944 163,189
Agribusiness and Energy Services [Member] | Ethanol [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]75,912 126,093
Agribusiness and Energy Services [Member] | Distillers Grains [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]9,239 4,709
Agribusiness and Energy Services [Member] | Corn Oil [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]4,811 5,730
Agribusiness and Energy Services [Member] | Grain [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]12,170 7,950
Agribusiness and Energy Services [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers826 390
Total revenues from contracts accounted for as derivatives[1]25,863 11,009
Agribusiness and Energy Services [Member] | Intersegment Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts accounted for as derivatives[1]5,123 7,308
Partnership [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers3,063 3,253
Leasing revenues under ASC 842[2]17,343 17,018
Total Revenues20,406 20,271
Partnership [Member] | Service Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers1,057 1,179
Partnership [Member] | Intersegment Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers2,006 2,074
Intersegment Eliminations [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers(2,006)(2,099)
Total revenues from contracts accounted for as derivatives[1](5,123)(7,308)
Leasing revenues under ASC 842[2](17,303)(16,909)
Total Revenues(24,432)(26,316)
Intersegment Eliminations [Member] | Intersegment Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers(2,006)(2,099)
Total revenues from contracts accounted for as derivatives[1](5,123)(7,308)
Intersegment Eliminations [Member] | Ethanol Production [Member]
Disaggregation of Revenue [Line Items]
Total Revenues(25)
Intersegment Eliminations [Member] | Agribusiness and Energy Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues(5,123)(7,308)
Intersegment Eliminations [Member] | Partnership [Member]
Disaggregation of Revenue [Line Items]
Total Revenues $ (19,309) $ (18,983)
[1]Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC 606, where the company recognizes revenue when control of the inventory is transferred within the meaning of ASC 606 as required by ASC 610-20, Gains and Losses from Derecognition of Nonfinancial Assets .
[2]Leasing revenues do not represent revenues recognized from contracts with customers under ASC 606, and are accounted for under ASC 842, Leases .

Acquisitions And Dispositions_2

Acquisitions And Dispositions (Narrative) (Details) - USD ($) $ in ThousandsMar. 22, 2021Oct. 01, 2020Mar. 31, 2021Mar. 31, 2020
Business Acquisition [Line Items]
Working capital payments $ 400
Gain (loss) on disposal of assets $ 36,893
Operating lease right of use assets2,000
Lease liabilities2,000
Ord Ethanol Plant [Member]
Business Acquisition [Line Items]
Gain (loss) on disposal of assets36,900
Assets to be disposed of in the sale64,000
Working capital9,800
Ord Ethanol Plant [Member] | Green Plains Partners LP [Member]
Business Acquisition [Line Items]
Receivable owned to related party500
Green Plains Cattle Company LLC [Member]
Business Acquisition [Line Items]
Percent membership interest sold50.00%50.00%
Corporate Activities [Member]
Business Acquisition [Line Items]
Gain (loss) on disposal of assets $ 36,900
Partnership [Member] | Ord Ethanol Plant [Member]
Business Acquisition [Line Items]
Assets to be disposed of in the sale $ 27,000

Acquisitions And Dispositions_3

Acquisitions And Dispositions (Amounts Of Identifiable Assets Disposed And Liabilities Relinquished) (Details) - Ord Ethanol Plant [Member] $ in ThousandsMar. 22, 2021USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Inventory $ 10,400
Prepaid expenses and other632
Property and equipment24,285
Accrued and other liabilities(415)
Total identifiable net assets disposed $ 34,902

Fair Value Disclosures (Narrati

Fair Value Disclosures (Narrative) (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair value of debt $ 535.9
Book value of debt526.2
Fair value of accounts receivable $ 62.5 $ 55.6

Fair Value Disclosures (Schedul

Fair Value Disclosures (Schedule Of Assets And Liabilities Fair Value) (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Assets:
Cash and cash equivalents $ 446,833 $ 233,860
Restricted cash207,593 40,950
Inventories carried at market69,132 77,900
Unrealized gains on derivatives19,365 21,956
Other assets153 141
Total assets measured at fair value743,076 374,807
Liabilities:
Accounts payable[1]20,281 19,355
Unrealized losses on derivatives6,313 10,997
Total liabilities measured at fair value26,594 30,352
Accounts payable, not stated at historical amounts20,300 19,400
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets:
Cash and cash equivalents446,833 233,860
Restricted cash207,593 40,950
Other assets111 112
Total assets measured at fair value654,537 274,922
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Inventories carried at market69,132 77,900
Unrealized gains on derivatives19,365 21,956
Other assets42 29
Total assets measured at fair value88,539 99,885
Liabilities:
Accounts payable[1]20,281 19,355
Unrealized losses on derivatives6,313 10,997
Total liabilities measured at fair value $ 26,594 $ 30,352
[1]Accounts payable is generally stated at historical amounts with the exception of $ 20.3 million and $ 19.4 million at March 31, 2021 and December 31, 2020, respectively, related to certain delivered inventory for which the payable fluctuates based on changes in commodity prices. These payables are hybrid financial instruments for which the company has elected the fair value option.

Segment Information (Summary Of

Segment Information (Summary Of Financial Data) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues $ 553,640 $ 632,869
Cost of goods sold509,233 617,228
Operating income (loss)31,347 (54,328)
Depreciation and amortization20,681 18,080
Gain (loss) on disposal of assets36,893
Goodwill impairment24,091
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues578,072 659,185
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues(24,432)(26,316)
Cost of goods sold(22,366)(28,424)
Operating income (loss)(2,066)2,133
Ethanol Production [Member]
Segment Reporting Information [Line Items]
Revenues423,722 475,725
Goodwill impairment24,100
Ethanol Production [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues423,722 475,700
Cost of goods sold415,525 489,150
Operating income (loss)[1](20,320)(60,781)
Depreciation and amortization18,528 15,898
Ethanol Production [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues(25)
Agribusiness and Energy Services [Member]
Segment Reporting Information [Line Items]
Revenues133,944 163,189
Agribusiness and Energy Services [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues128,821 155,881
Cost of goods sold116,074 156,502
Operating income (loss)13,346 2,560
Depreciation and amortization607 553
Agribusiness and Energy Services [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues(5,123)(7,308)
Partnership [Member]
Segment Reporting Information [Line Items]
Revenues20,406 20,271
Partnership [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues1,097 1,288
Operating income (loss)12,871 12,430
Depreciation and amortization887 961
Partnership [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues(19,309)(18,983)
Corporate Activities [Member]
Segment Reporting Information [Line Items]
Operating income (loss)[2]27,516 (10,670)
Depreciation and amortization659 $ 668
Gain (loss) on disposal of assets $ 36,900
[1]Operating loss for ethanol production includes a goodwill impairment charge of $ 24.1 million for the three months ended March 31, 2020.
[2]Corporate activities for the three months ended March 31, 2021 included a $ 36.9 million pretax gain on sale of assets.

Segment Information (Summary _2

Segment Information (Summary Of Total Assets For Operating Segments) (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets[1] $ 1,944,626 $ 1,578,917
Operating Segments [Member] | Ethanol Production [Member]
Segment Reporting Information [Line Items]
Total assets[1]1,028,817 900,963
Operating Segments [Member] | Agribusiness and Energy Services [Member]
Segment Reporting Information [Line Items]
Total assets[1]403,628 378,720
Operating Segments [Member] | Partnership [Member]
Segment Reporting Information [Line Items]
Total assets[1]91,261 91,205
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total assets[1](33,730)(20,045)
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Total assets[1] $ 454,650 $ 228,074
[1]Asset balances by segment exclude intercompany balances .

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Inventories [Abstract]
Lower of cost or market adjustment $ 0 $ 0

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Inventories [Abstract]
Finished goods $ 87,591 $ 89,223
Commodities held for sale25,858 40,147
Raw materials94,154 90,800
Work-in-process16,206 13,201
Supplies and parts34,950 36,120
Inventories $ 258,759 $ 269,491

Derivative Financial Instrume_3

Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Derivative Financial Instruments [Abstract]
Accumulated other comprehensive loss $ (8,398) $ (2,172)
Gain or loss from discontinuing cash flow hedge treatment0 $ 0
Gain or loss from discontinuing fair value hedge treatment0 0
Energy trading contracts, gain (loss) $ 400 $ 3,100

Derivative Financial Instrume_4

Derivative Financial Instruments (Schedule Of Fair Values Of Derivative Financial Instruments) (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value $ 19,407 $ 21,985
Liability Derivatives, Fair Value6,313 10,997
Derivative Financial Instruments, Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value19,365 21,956 [1]
Net unrealized gains on exchange traded futures and options contracts included in balance sheet3,300
Derivative Financial Instruments, Assets [Member] | Cash Flow Hedges [Member]
Derivatives, Fair Value [Line Items]
Net unrealized gains on exchange traded futures and options contracts included in balance sheet2,800
Derivative Financial Instruments, Liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives, Fair Value6,313 [2]10,997 [3]
Net unrealized losses on exchange traded futures and options contracts34,800 9,300
Derivative Financial Instruments, Liabilities [Member] | Cash Flow Hedges [Member]
Derivatives, Fair Value [Line Items]
Net unrealized losses on exchange traded futures and options contracts24,800
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value $ 42 $ 29
[1]At December 31, 2020, derivative financial instruments, as reflected on the balance sheet, includes net unrealized gains on exchange traded futures and options contracts of $ 3.3 million, which include $ 2.8 million of net unrealized gains on derivative financial instruments designated as cash flow hedging instruments.
[2]At March 31, 2021, derivative financial instruments, as reflected on the balance sheet, includes net unrealized losses on exchange traded futures and options contracts of $ 34.8 million, which included $ 24.8 million of net unrealized losses on derivative financial instruments designated as cash flow hedging instruments.
[3]At December 31, 2020, derivative financial instruments, as reflected on the balance sheet, includes net unrealized losses on exchange traded futures and options contracts of $ 9.3 million, none of which were designated as cash flow hedging instruments.

Derivative Financial Instrume_5

Derivative Financial Instruments (Schedule Of Derivative Instruments, Gain (Loss) in Statement of Financial Performance) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income $ 1,811 $ 5,917
Carrying Amount of the Hedged Assets, Inventories45,378 $ 53,963
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets12,825 $ 9,041
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives(32,231)42,728
Revenue [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income(15,188)8,818
Gains (Losses) Due to Ineffectiveness of Cash Flow Hedges(15,188)8,818
Cost of Goods Sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income16,999 (2,901)
Gains (Losses) Due to Ineffectiveness of Cash Flow Hedges17,858 (2,381)
Commodity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income on Derivatives(6,376)5,979
Commodity Contracts [Member] | Revenue [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives(40,794)45,407
Commodity Contracts [Member] | Cost of Goods Sold [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivatives8,563 (2,679)
Commodity Contracts [Member] | Fair Value Hedging [Member] | Cost of Goods Sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Due to Ineffectiveness of Cash Flow Hedges7,967 (7,594)
Commodity Contracts [Member] | Fair Value Hedging [Member] | Cost of Goods Sold [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Due to Ineffectiveness of Cash Flow Hedges $ (7,108) $ 8,114

Derivative Financial Instrume_6

Derivative Financial Instruments (Schedule Of Open Position Derivative Financial Instruments) (Details) contract in ThousandsMar. 31, 2021contract
Corn And Soybeans [Member] | Exchange Traded [Member] | Short [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions22,300 [1],[2]
Corn And Soybeans [Member] | Non-Exchange Traded [Member] | Long [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions49,595 [3]
Corn And Soybeans [Member] | Non-Exchange Traded [Member] | Short [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions62 [3]
Corn [Member] | Exchange Traded [Member] | Long [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions28,965 [1],[2]
Corn [Member] | Exchange Traded [Member] | Long [Member] | Options [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions10,995 [1],[2]
Corn [Member] | Exchange Traded [Member] | Short [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions7,255 [1],[2],[4]
Ethanol [Member] | Exchange Traded [Member] | Short [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions119,490 [1],[2]
Ethanol [Member] | Exchange Traded [Member] | Short [Member] | Options [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions10,719 [1],[2]
Ethanol [Member] | Exchange Traded [Member] | Short [Member] | Cash Flow Hedges [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions80,346 [1],[2]
Ethanol [Member] | Non-Exchange Traded [Member] | Short [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions155,333 [3]
Natural Gas [Member] | Exchange Traded [Member] | Long [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions(15,238)[1],[2]
Natural Gas [Member] | Exchange Traded [Member] | Long [Member] | Options [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions76 [1],[2]
Natural Gas [Member] | Exchange Traded [Member] | Short [Member] | Cash Flow Hedges [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions848 [1],[2],[4]
Natural Gas [Member] | Non-Exchange Traded [Member] | Long [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions15,658 [3]
Natural Gas [Member] | Non-Exchange Traded [Member] | Short [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions1,029 [3]
Soybean Meal [Member] | Exchange Traded [Member] | Long [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions425 [1],[2]
Soybean Meal [Member] | Exchange Traded [Member] | Long [Member] | Options [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions109 [1],[2]
Soybean Oil [Member] | Exchange Traded [Member] | Long [Member] | Options [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions63,159 [1],[2]
Soybean Oil [Member] | Exchange Traded [Member] | Short [Member] | Futures [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions24,000 [1],[2]
DDG [Member] | Non-Exchange Traded [Member] | Long [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions126 [3]
DDG [Member] | Non-Exchange Traded [Member] | Short [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions398 [3]
Corn Oil [Member] | Non-Exchange Traded [Member] | Long [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions24,816 [3]
Corn Oil [Member] | Non-Exchange Traded [Member] | Short [Member] | Forwards [Member]
Derivative [Line Items]
Derivative, Open Commodity Derivative Positions18,000 [3]
[1]Exchange traded futures and options are presented on a net long and (short) position basis. Options are presented on a delta-adjusted basis.
[2]Futures used for cash flow hedges.
[3]Non-exchange traded forwards are presented on a gross long and (short) position basis including both fixed-price and basis contracts.
[4]Futures used for fair value hedges.

Debt (Narrative - Corporate Act

Debt (Narrative - Corporate Activities) (Details)1 Months Ended3 Months Ended
Mar. 31, 2021USD ($)$ / sharesJun. 30, 2019USD ($)$ / sharessharesAug. 31, 2016USD ($)$ / sharessharesMar. 31, 2021USD ($)item$ / sharesDec. 31, 2020USD ($)
Debt Instrument [Line Items]
Additional paid-in capital $ 882,949,000 $ 882,949,000 $ 740,889,000
Retained earnings44,248,000 44,248,000 39,375,000
Long-term debt537,880,000 537,880,000 287,299,000
Loss on extinguishment debt22,100,000
Cash payment for conversion of 3.25% convertible notes due 201820,861,000
Restatement Adjustment [Member]
Debt Instrument [Line Items]
Additional paid-in capital(49,500,000)
Retained earnings11,400,000
Long-term debt38,100,000
Debt principal offset39,400,000
Debt issuance costs $ 1,300,000
Corporate Activities [Member]
Debt Instrument [Line Items]
Loss on extinguishment debt22,100,000
Unamortized debt issuance costs1,200,000 1,200,000
2.25% Convertible Notes Due 2027 [Member] | Corporate Activities [Member] | Convertible Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount $ 230,000,000 $ 230,000,000
Interest rate, stated percentage2.25%2.25%
Debt Instrument, Maturity DateMar. 15,
2027
Debt instrument convertible rate31.6206%
Debt instrument convertible conversion price benchmark $ 1,000
Debt conversion price | $ / shares $ 31.62 $ 31.62
Conversion price percentage37.50%
Debt Instrument, Redemption Price, Percentage100.00%
Percent of excess of applicable conversion price140.00%
Debt Instrument, Convertible, Threshold Trading Days | item20
Debt Instrument, Convertible, Threshold Consecutive Trading Days | item30
Percent of principal amount, cash price for repurchase100.00%
Net proceeds from debt $ 156,500,000
4.00% Convertible Notes Due 2024 [Member] | Corporate Activities [Member] | Convertible Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount $ 115,000,000
Interest rate, stated percentage4.00%4.00%4.00%4.00%
Debt Instrument, Maturity DateJul. 1,
2024
Common stock for conversion, shares | shares64.1540
Debt instrument convertible conversion price benchmark $ 1,000
Debt conversion price | $ / shares $ 15.59
Debt Conversion, Sale Price Of Common Stock Percent, Minimum140.00%
Debt Instrument, Redemption Price, Percentage100.00%
4.125% Convertible Notes Due 2022 [Member] | Corporate Activities [Member] | Convertible Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount $ 170,000,000
Interest rate, stated percentage4.125%4.125%4.125%4.125%
Outstanding amount repurchased $ 135,700,000 $ 135,700,000
Debt conversion, principal amounts for integral multiples $ 1,000
Common stock for conversion, shares | shares35.7143
Debt conversion price | $ / shares $ 28
Conversion price percentage140.00%
Principal amount of notes, percentage100.00%100.00%

Debt (Narrative - Agribusiness

Debt (Narrative - Agribusiness And Energy Services Segment) (Details) item in Millions3 Months Ended
Mar. 31, 2021USD ($)itemDec. 31, 2020USD ($)
Green Plains Grain [Member]
Debt Instrument [Line Items]
Number of bushels of corn designated as collateral | item5.5
Debt Instrument, Collateral Amount $ 32,300,000
Agribusiness and Energy Services [Member] | Green Plains Grain [Member]
Debt Instrument [Line Items]
Minimum working capital required for compliance $ 18,000,000
Percent Of Sum Of Total Commitment Plus Aggregate Seasonal Line Commitments18.00%
Minimum Net Worth Required For Compliance, Percent21.00%
Fixed charge coverage ratio1.25
Annual leverage ratio6
Maximum Capital Expenditures Per Year Under Agreement $ 8,000,000
Maximum Unused Amounts For Capital Expenditures Under Agreements8,000,000
Agribusiness and Energy Services [Member] | Green Plains Grain [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount $ 100,000,000
Debt Instrument, Maturity DateJun. 28,
2022
Additional amounts available under facility, accordion feature $ 75,000,000
Line of credit, maximum borrowing capacity225,000,000
Maximum Long Term Indebtedness Benchmark Under Agreement $ 10,000,000
Maximum Long Term Debt Capitalization Under Agreement40.00%
Agribusiness and Energy Services [Member] | Green Plains Grain [Member] | Revolving Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage3.00%
Agribusiness and Energy Services [Member] | Green Plains Grain [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage2.00%
Agribusiness and Energy Services [Member] | Green Plains Grain [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Unused capacity fee, percentage0.375%
Agribusiness and Energy Services [Member] | Green Plains Grain [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Unused capacity fee, percentage0.50%
Agribusiness and Energy Services [Member] | Green Plains Grain [Member] | Seasonal Borrowings [Member]
Debt Instrument [Line Items]
Additional amounts available under facility, accordion feature $ 50,000,000
Agribusiness and Energy Services [Member] | Green Plains Trade [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Additional amounts available under facility, accordion feature70,000,000
Line of credit, maximum borrowing capacity300,000,000
Minimum working capital required for compliance $ 1,500,000
Fixed charge coverage ratio1.15
Allowable dividends as percentage of net profit before taxes50.00%
Undrawn availability of revolving credit facility on a pro forma basis $ 10,000,000
Availability Benchmark Period Under Agreement30 days
Unused capacity fee, percentage0.375%
Agribusiness and Energy Services [Member] | Green Plains Trade [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity DateJul. 28,
2022
Line of credit, maximum borrowing capacity $ 285,000,000
Agribusiness and Energy Services [Member] | Green Plains Trade [Member] | Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage2.25%
Agribusiness and Energy Services [Member] | Green Plains Trade [Member] | First-in-last-out (FILO) Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity $ 15,000,000
Agribusiness and Energy Services [Member] | Green Plains Trade [Member] | First-in-last-out (FILO) Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage3.25%
Agribusiness and Energy Services [Member] | Green Plains Commodity Management [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity DateApr. 30,
2023
Line of credit, maximum borrowing capacity $ 30,000,000
Agribusiness and Energy Services [Member] | Green Plains Commodity Management [Member] | Revolving Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage1.75%
$100.0 Million Revolver [Member] | Green Plains Grain [Member]
Debt Instrument [Line Items]
Debt instrument, face amount $ 100,000,000 $ 100,000,000
$30.0 Million Hedge Line [Member] | Green Plains Commodity Management [Member]
Debt Instrument [Line Items]
Debt instrument, face amount $ 30,000,000 $ 30,000,000

Debt (Narrative - Ethanol Produ

Debt (Narrative - Ethanol Production, Partnership Segment, Covenant Compliance, And Restricted Net Assets) (Details)Oct. 15, 2020USD ($)Mar. 31, 2021USD ($)item$ / sharesFeb. 09, 2021USD ($)Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Restricted assets $ 152,700,000
Outstanding balance $ 612,909,000 $ 391,502,000
Green Plains Wood River and Green Plains Shenandoah [Member] | $75.0 Million Delayed Draw Loan Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, draw period18 months
Debt instrument, face amount $ 75,000,000 75,000,000
Interest rate, stated percentage5.02%
Interest rate premium1.50%
Debt maturity datesSep. 1,
2035
Minimum working capital required for compliance, per gallon0.10%
Minimum working capital required for compliance $ 95,800,000
Minimum loan to value ratio, percent50.00%
Fixed charge coverage ratio1.25
Debt service reserve term of future payments6 months
Annual principal payments $ 1,500,000
Months before first payment after closing24 months
Outstanding balance[1] $ 30,000,000 $ 30,000,000
Green Plains Wood River and Green Plains Shenandoah [Member] | $75.0 Million Delayed Draw Loan Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Unused capacity fee, percentage0.00%
Green Plains Wood River and Green Plains Shenandoah [Member] | $75.0 Million Delayed Draw Loan Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Unused capacity fee, percentage1.50%
Green Plains SPE LLC [Member] | $125.0 Million Junior Secured Mezzanine Notes Due 2026 [Member]
Debt Instrument [Line Items]
Interest rate, basis for effective rate11.75%
Debt instrument, face amount $ 125,000,000 $ 125,000,000
Debt maturity datesFeb. 9,
2026
Debt instrument, term42 months
Outstanding balance[2] $ 125,000,000
Green Plains SPE LLC [Member] | $125.0 Million Junior Secured Mezzanine Notes Due 2026 [Member] | Elect To Pay In Cash [Member]
Debt Instrument [Line Items]
Interest rate, basis for effective rate6.00%
Green Plains SPE LLC [Member] | $125.0 Million Junior Secured Mezzanine Notes Due 2026 [Member] | Paid In Kind [Member]
Debt Instrument [Line Items]
Interest rate, basis for effective rate6.75%
Partnership [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Unused capacity fee, percentage0.50%
Debt instrument, face amount $ 135,000,000
Debt maturity datesDec. 31,
2021
Consolidated net leverage ratio decrease each quarter0.25
Minimum amount prepaid benchmark $ 40,000,000
Minimum debt service coverage ratio expected in future1.10
Payments in excess of scheduled monthly payments $ 40,000,000
Line of credit, threshold of cash balance, payment required $ 2,500,000
Threshold cash balance, number of consecutive business days | item5
Line of credit, percent of net cash proceeds required for outstanding principal100.00%
Line of credit terms, maximum per unit quarterly payments | $ / shares $ 0.12
Partnership [Member] | Expected By Fourth Quarter Of 2021 [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Consolidated net leverage ratio1.50
Partnership [Member] | LIBOR [Member] | Interest Rate After April 1, 2021 [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Floating rate1.00%
Partnership [Member] | Minimum [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate, basis for effective rate1.0%
Consolidated debt service coverage ratio1.05
Partnership [Member] | Minimum [Member] | LIBOR [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage4.50%
Partnership [Member] | Minimum [Member] | LIBOR [Member] | Interest Rate After April 1, 2021 [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage5.00%
Partnership [Member] | Maximum [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Consolidated net leverage ratio3
Partnership [Member] | Maximum [Member] | LIBOR [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage5.25%
Partnership [Member] | Maximum [Member] | LIBOR [Member] | Interest Rate After April 1, 2021 [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage5.75%
Partnership [Member] | Revolving Credit Facility [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount $ 5,000,000
Debt instrument, term10 days
Interest rate, effective percentage7.00%
Outstanding balance $ 300,000
Partnership [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Prime Rate [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage3.50%
Partnership [Member] | Revolving Credit Facility [Member] | Maximum [Member] | Prime Rate [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate, basis spread on variable rate, percentage4.25%
Partnership [Member] | Term Loan [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount $ 130,000,000
Additional prepayments required0
Prepayment made with excess cash $ 3,000,000
Interest rate, effective percentage5.75%
Principal payments (plus interest) $ 7,500,000
Payments on credit facility37,500,000
Scheduled periodic principal payments $ 2,500,000
Outstanding balance62,500,000
Partnership [Member] | Term Loan [Member] | Credit Facility [Member] | Storage Assets Located Adjacent To Ord Plant [Member]
Debt Instrument [Line Items]
Payments on credit facility27,000,000
Partnership [Member] | Term Loan [Member] | Term Loan, Payments Beginning In May 15, 2021 [Member] | Credit Facility [Member]
Debt Instrument [Line Items]
Principal payments (plus interest) $ 3,200,000
[1]Includes $ 0.3 million of unamortized debt issuance costs as of both March 31, 2021 and December 31, 2020
[2]Includes $ 1.0 million of unamortized debt issuance costs as of March 31, 2021 .

Debt (Schedule Of The Component

Debt (Schedule Of The Components Of Long-Term Debt) (Details) - USD ($) $ in ThousandsMar. 31, 2021Feb. 09, 2021Dec. 31, 2020Jun. 30, 2019Aug. 31, 2016
Debt Instrument [Line Items]
Total book value of long-term debt $ 612,909 $ 391,502
Unamortized debt issuance costs(13,587)(6,151)
Less: current maturities of long-term debt(61,442)(98,052)
Total long-term debt537,880 287,299
Convertible Notes [Member] | 2.25% Convertible Notes Due 2027 [Member] | Corporate Activities [Member]
Debt Instrument [Line Items]
Total book value of long-term debt[1],[2]230,000
Unamortized debt issuance costs(7,400)
Debt instrument, face amount $ 230,000
Interest rate, stated percentage2.25%
Convertible Notes [Member] | 4.00% Convertible Notes Due 2024 [Member] | Corporate Activities [Member]
Debt Instrument [Line Items]
Total book value of long-term debt[2],[3] $ 115,000 89,125
Unamortized debt issuance costs $ (2,800) $ (2,200)
Debt instrument, face amount $ 115,000
Interest rate, stated percentage4.00%4.00%4.00%
Convertible Notes [Member] | 4.125% Convertible Notes Due 2022 [Member] | Corporate Activities [Member]
Debt Instrument [Line Items]
Total book value of long-term debt[2],[4] $ 34,316 $ 156,441
Unamortized debt issuance costs $ (300) $ (1,300)
Debt instrument, face amount $ 170,000
Interest rate, stated percentage4.125%4.125%4.125%
Other Debt Obligations [Member]
Debt Instrument [Line Items]
Total book value of long-term debt $ 15,793 $ 15,936
Green Plains Wood River and Green Plains Shenandoah [Member] | $75.0 Million Delayed Draw Loan Agreement [Member]
Debt Instrument [Line Items]
Total book value of long-term debt[5]30,000 30,000
Unamortized debt issuance costs(300)(300)
Debt instrument, face amount $ 75,000 75,000
Interest rate, stated percentage5.02%
Green Plains SPE LLC [Member] | $125.0 Million Junior Secured Mezzanine Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total book value of long-term debt[6] $ 125,000
Unamortized debt issuance costs(1,000)
Debt instrument, face amount125,000 $ 125,000
Credit Facility [Member] | Partnership [Member]
Debt Instrument [Line Items]
Total book value of long-term debt[7]62,800 100,000
Unamortized debt issuance costs(1,700)(2,300)
Debt instrument, face amount $ 135,000 $ 135,000
[1]Includes $ 7.4 million of unamortized debt issuance costs as of March 31, 2021.
[2]See discussion on early adoption of the amended guidance in ASC 470-20 on the previous page.
[3]Includes $ 2.8 million and $ 2.2 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively.
[4]See discussion below regarding the repurchase of convertible notes due in 2022. Includes $ 0.3 million and $ 1.3 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively.
[5]Includes $ 0.3 million of unamortized debt issuance costs as of both March 31, 2021 and December 31, 2020
[6]Includes $ 1.0 million of unamortized debt issuance costs as of March 31, 2021 .
[7]Includes $ 1.7 million and $ 2.3 million of unamortized debt issuance costs as of March 31, 2021 and December 31, 2020, respectively.

Debt (Schedule Of Short-term No

Debt (Schedule Of Short-term Notes Payable And Other Borrowings) (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Short-term notes payable and other borrowings $ 174,104 $ 140,808
Green Plains Trade [Member] | $300.0 Million Revolver [Member]
Debt Instrument [Line Items]
Short-term notes payable and other borrowings70,270 79,251
Debt instrument, face amount300,000 300,000
Green Plains Grain [Member] | $100.0 Million Revolver [Member]
Debt Instrument [Line Items]
Short-term notes payable and other borrowings49,000 38,700
Debt instrument, face amount100,000 100,000
Green Plains Grain [Member] | $50.0 Million Inventory Financing [Member]
Debt Instrument [Line Items]
Short-term notes payable and other borrowings32,277
Debt instrument, face amount50,000
Green Plains Commodity Management [Member] | $30.0 Million Hedge Line [Member]
Debt Instrument [Line Items]
Short-term notes payable and other borrowings22,557 21,682
Debt instrument, face amount $ 30,000 30,000
Green Plains Commodity Management [Member] | Other Short Term Debt [Member]
Debt Instrument [Line Items]
Short-term notes payable and other borrowings $ 1,175

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or units authorized5,700,000
Compensation costs expensed $ 0.9 $ 1.3
Unrecognized compensation costs $ 16.5
Compensation expected to be recognized, weighted-average period in years2 years 6 months
Potential tax benefit, percentage23.90%
Green Plains Partners Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or units authorized2,500,000
Change in number of non-vested unit-based awards0
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, shares outstanding580,307 517,969
Performance Shares [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Target Percentage100.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized, Achievement of Maximum Goals1,122,243
Share-based Compensation Arrangement by Share-based Payment Award, Achievement of Maximum Goals Percentage272.00%
Non-vested, shares outstanding412,121
Performance Shares [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period3 years
Share-based Compensation Arrangement by Share-based Payment Award, Target Percentage100.00%
Vested target percentage75.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized, Achievement of Maximum Goals252,279
Share-based Compensation Arrangement by Share-based Payment Award, Achievement of Maximum Goals Percentage150.00%
Non-vested, shares outstanding168,186
Performance Shares, Predetermined RONA [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period3 years

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule Of Non-Vested Stock Award And DSU Activity) (Details) - Restricted Stock Awards And Deferred Stock Units [Member]3 Months Ended
Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, shares or units | shares1,028,739
Non-vested, Weighted-Average Grant-Date Fair Value | $ / shares $ 9.15
Granted, shares or units | shares295,878
Granted, Weighted-Average Grant-Date Fair Value | $ / shares $ 26.25
Forfeited, shares or units | shares(6,221)
Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares $ 11.79
Vested, shares or units | shares(293,715)
Vested, Weighted-Average Grant-Date Fair Value | $ / shares $ 13.71
Non-vested, shares or units | shares1,024,681
Non-vested, Weighted-Average Grant-Date Fair Value | $ / shares $ 12.76
Non-vested, Weighted-Average Remaining Vesting Term (in years)2 years 4 months 24 days

Stock-Based Compensation (The W

Stock-Based Compensation (The Weighted Average Assumptions Used by the Company in Applying the Monte Carlo Valuation Model for Performance Share Grants) (Details) - Performance Shares [Member]12 Months Ended
Dec. 31, 2019$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate2.45%
Dividend yield3.13%
Expected volatility41.69%
Monte Carlo valuation99.62%
Closing stock price on the date of grant $ 15.34

Stock-Based Compensation (Sch_2

Stock-Based Compensation (Schedule Of Non-Vested Performance Share Award Activity) (Details) - Performance Shares [Member]3 Months Ended
Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, shares or units | shares517,969
Non-vested, Weighted-Average Grant-Date Fair Value | $ / shares $ 10.82
Granted, shares or units | shares179,555
Granted, Weighted-Average Grant-Date Fair Value | $ / shares $ 26.27
Forfeited, shares or units | shares(29,302)
Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares $ 18.15
Vested, shares or units | shares(87,915)
Vested, Weighted-Average Grant-Date Fair Value | $ / shares $ 17.68
Non-vested, shares or units | shares580,307
Non-vested, Weighted-Average Grant-Date Fair Value | $ / shares $ 14.17
Non-vested, Weighted-Average Remaining Vesting Term (in years)2 years 6 months

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Earnings Per Share [Abstract]
Net loss attributable to Green Plains $ (6,545) $ (16,445)
Weighted average shares outstanding - basic and diluted37,695 34,665
EPS - basic and diluted $ (0.17) $ (0.47)
Anti-dilutive weighted-average convertible debt and stock-based compensation[1]13,714 13,926
[1]The effect related to the company’s convertible debt, outstanding warrants and stock-based compensation awards have been excluded from diluted EPS for the periods presented as the inclusion of these shares would have been anti-dilutive.

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in ThousandsMar. 01, 2021Mar. 31, 2021Dec. 31, 2020
Additional Paid in Capital $ 882,949 $ 740,889
Retained Earnings (Accumulated Deficit)44,248 39,375
Long-term Debt, Excluding Current Maturities537,880 $ 287,299
Issuance of common stock $ 191,134
Common stock, par value $ 0.001 $ 0.001
Common Stock [Member]
Issuance of common stock $ 191,100 $ 9
Issuance of common stock, shares8,751,500 8,752,000
Common stock, par value $ 0.001
Issuance of common stock, price per share $ 23 $ 23
Warrants [Member]
Number of shares of common stock reserved for exercise of warrants2,275,000
Exercise Price $ 22
Warrants [Member] | Non-Employees [Member]
Number of shares of common stock reserved for exercise of warrants2,550,000
Restatement Adjustment [Member]
Additional Paid in Capital $ (49,500)
Retained Earnings (Accumulated Deficit)11,400
Long-term Debt, Excluding Current Maturities38,100
Debt Principal Offset39,400
Debt Issuance Costs, Net1,300
Deferred tax liability $ 9,200
Exercise Price One [Member] | Warrants [Member]
Number of shares of common stock reserved for exercise of warrants275,000
Expiration DateDec. 8,
2025
Exercise Price Two [Member]
Expiration DateFeb. 9,
2026
Exercise Price Two [Member] | Warrants [Member]
Number of shares of common stock reserved for exercise of warrants275,000
Exercise Price Three [Member]
Expiration DateApr. 28,
2026
Exercise Price Three [Member] | Warrants [Member]
Number of shares of common stock reserved for exercise of warrants2,000,000

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule Of Stockholders' Equity) (Details) - USD ($) $ / shares in Units, $ in ThousandsMar. 01, 2021Mar. 31, 2021Mar. 31, 2020
Stockholders' Equity [Line Items]
Beginning balance $ 776,664 $ 865,286
Net income (loss)(1,979)(10,347)
Cash distributions declared(1,395)(5,498)
Other comprehensive loss before reclassification(4,849)4,532
Amounts reclassified from accumulated other comprehensive loss(1,377)(4,485)
Other comprehensive income (loss), net of tax(6,226)47
FQT investment3,330
Share of equity method investees other comprehensive loss arising during the period, net of tax41,956
Repurchase of common stock(11,479)
Issuance of common stock for cash at $23.00 per share, net of fees191,134
Stock-based compensation115
Stock-based compensation(2,921)
Ending balance920,529 880,080
Cumulative Effect, Period of Adoption, Adjustment [Member]
Stockholders' Equity [Line Items]
Beginning balance[1](38,078)
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Stockholders' Equity [Line Items]
Beginning balance738,586
Common Stock [Member]
Stockholders' Equity [Line Items]
Beginning balance $ 47 $ 47
Beginning balance, Shares47,471,000 46,964,000
Issuance of common stock for cash at $23.00 per share, net of fees $ 191,100 $ 9
Issuance of common stock for cash at $23.00 per share, net of fees, shares8,751,500 8,752,000
Stock-based compensation, Shares230,000 343,000
Ending balance, Shares56,453,000 47,307,000
Ending balance $ 56 $ 47
Issuance of common stock, price per share $ 23 $ 23
Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Stockholders' Equity [Line Items]
Beginning balance $ 47
Beginning balance, Shares47,471,000
Additional Paid-In Capital [Member]
Stockholders' Equity [Line Items]
Beginning balance $ 740,889 734,580
Issuance of warrants3,431
Issuance of common stock for cash at $23.00 per share, net of fees191,125
Stock-based compensation36
Stock-based compensation(3,000)
Ending balance882,949 734,616
Additional Paid-In Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Stockholders' Equity [Line Items]
Beginning balance[1](49,496)
Additional Paid-In Capital [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Stockholders' Equity [Line Items]
Beginning balance691,393
Retained Earnings [Member]
Stockholders' Equity [Line Items]
Beginning balance39,375 148,150
Net income (loss)(6,545)(16,445)
Ending balance44,248 131,705
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Stockholders' Equity [Line Items]
Beginning balance[1]11,418
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Stockholders' Equity [Line Items]
Beginning balance50,793
Accum. Other Comp. Income (Loss) [Member]
Stockholders' Equity [Line Items]
Beginning balance(2,172)(11,064)
Other comprehensive loss before reclassification(4,849)4,532
Amounts reclassified from accumulated other comprehensive loss(1,377)(4,485)
Other comprehensive income (loss), net of tax(6,226)47
Share of equity method investees other comprehensive loss arising during the period, net of tax41,956
Ending balance(8,398)30,939
Accum. Other Comp. Income (Loss) [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Stockholders' Equity [Line Items]
Beginning balance(2,172)
Treasury Stock [Member]
Stockholders' Equity [Line Items]
Beginning balance $ (131,287) $ (119,808)
Beginning balance, Shares11,813,000 10,932,000
Repurchase of common stock $ (11,479)
Repurchase of common stock, Shares881,000
Ending balance, Shares11,813,000 11,813,000
Ending balance $ (131,287) $ (131,287)
Treasury Stock [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Stockholders' Equity [Line Items]
Beginning balance $ (131,287)
Beginning balance, Shares11,813,000
Total Green Plains Stockholders' Equity [Member]
Stockholders' Equity [Line Items]
Beginning balance $ 646,852 751,905
Net income (loss)(6,545)(16,445)
Other comprehensive loss before reclassification(4,849)4,532
Amounts reclassified from accumulated other comprehensive loss(1,377)(4,485)
Other comprehensive income (loss), net of tax(6,226)47
Share of equity method investees other comprehensive loss arising during the period, net of tax41,956
Repurchase of common stock(11,479)
Issuance of warrants3,431
Issuance of common stock for cash at $23.00 per share, net of fees191,134
Stock-based compensation36
Stock-based compensation(3,000)
Ending balance787,568 766,020
Total Green Plains Stockholders' Equity [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Stockholders' Equity [Line Items]
Beginning balance[1](38,078)
Total Green Plains Stockholders' Equity [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Stockholders' Equity [Line Items]
Beginning balance608,774
Non-Controlling Interests [Member]
Stockholders' Equity [Line Items]
Beginning balance129,812 113,381
Net income (loss)4,566 6,098
Cash distributions declared(1,395)(5,498)
FQT investment3,330
Issuance of warrants(3,431)
Stock-based compensation79 79
Ending balance132,961 $ 114,060
Non-Controlling Interests [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Stockholders' Equity [Line Items]
Beginning balance $ 129,812
[1]See Note 1 –

Stockholders' Equity (Reclassif

Stockholders' Equity (Reclassification From Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax benefit $ 1,862 $ (44,283)
Net loss(1,979)(10,347)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss before income taxes and income from equity method investees[1]1,811 5,917
Income tax benefit434 1,432
Net loss1,377 4,485
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) [Member] | Commodity Contracts [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenues[2](15,188)8,818
Cost of goods sold[3] $ 16,999 $ (2,901)
[1]Loss before income taxes and income from equity method investees
[2]Revenues
[3]Costs of goods sold

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)Mar. 27, 2020Mar. 26, 2020Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Tax Credit Carryforward [Line Items]
Business interest limitation percent50.00%30.00%
Uncategorized Tax Benefits $ 51,400,000 $ 51,600,000
Tax impact from CARES Act0
Income tax expense (benefit) $ 1,862,000 $ (44,283,000)
2019 NOL [Member]
Tax Credit Carryforward [Line Items]
Income tax expense (benefit) $ (28,400,000)
Restatement Adjustment [Member]
Tax Credit Carryforward [Line Items]
Deferred tax liability $ 9,200,000

Commitments And Contingencies_2

Commitments And Contingencies (Narrative) (Details) $ in Millions3 Months Ended
Mar. 31, 2021USD ($)
Trading Activity, Gains and Losses, Net [Line Items]
Contracted future purchases $ 400.7
Railcar Operating Lease [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Lessee Operating Lease, Lease Not Yet Commenced $ 1.7
Minimum [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Operating Lease Remaining Lease Term1 year
Minimum [Member] | Railcar Operating Lease [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract3 years
Maximum [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Operating Lease Remaining Lease Term16 years 7 months 6 days
Maximum [Member] | Railcar Operating Lease [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract5 years

Commitments And Contingencies_3

Commitments And Contingencies (Components Of Lease Expense) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Commitments And Contingencies [Abstract]
Operating lease expense $ 4,934 $ 4,945
Variable lease expense[1]69 269
Total lease expense $ 5,003 $ 5,214
[1]Represents amounts incurred in excess of the minimum payments required for a certain building lease and for the handling and unloading of railcars for a certain land lease, offset by railcar lease abatements provided by the lessor when railcars are out of service during periods of maintenance or upgrade.

Commitments And Contingencies_4

Commitments And Contingencies (Supplemental Cash Flow Information Related To Operating Leases) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Commitments And Contingencies [Abstract]
Operating cash flows from operating leases $ 4,832 $ 4,849
Right-of-use assets obtained in exchange for lease obligations: Operating leases6,464 $ 5,675
Right-of-use assets and lease obligations derecognized due to lease modifications: Operating leases $ 51

Commitments And Contingencies_5

Commitments And Contingencies (Supplemental Balance Sheet Information Related To Operating Leases) (Details)Mar. 31, 2021Dec. 31, 2020
Commitments And Contingencies [Abstract]
Weighted average remaining lease term6 years6 years 2 months 12 days
Weighted average discount rate4.35%4.55%

Commitments And Contingencies_6

Commitments And Contingencies (Schedule Of Aggregate Minimum Lease Payments) (Details) $ in ThousandsMar. 31, 2021USD ($)
Commitments And Contingencies [Abstract]
2021 $ 14,354
202217,175
202313,488
202411,395
20257,849
Thereafter15,634
Total79,895
Less: Present value discount(12,586)
Lease liabilities $ 67,309

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)Oct. 01, 2020Mar. 31, 2021USD ($)Mar. 31, 2020USD ($)Dec. 31, 2020USD ($)item
Related Party Transaction [Line Items]
Noncontrolling interests $ 132,961,000 $ 129,812,000
Outstanding accounts payable92,972,000 140,058,000
Aircraft Lease [Member]
Related Party Transaction [Line Items]
Outstanding accounts payable3,000 $ 0
Green Plains Cattle [Member]
Related Party Transaction [Line Items]
Revenues and cost of goods sold subsequent to disposition $ 2,900,000
Green Plains Cattle [Member] | Mr. Ejnar Knudsen [Member] | Indirect Interest By Mr. Ejnar Knudsen [Member]
Related Party Transaction [Line Items]
Indirect ownership interest percentage0.0736%
Noncontrolling interests $ 100,000
Board of Directors Chairman [Member] | Aircraft Lease [Member]
Related Party Transaction [Line Items]
Number of related party transaction agreements | item2
Number of leased aircrafts | item2
Aircraft lease amount payable, per month $ 11,588
Aircraft hours available54 hours
Aircraft hours agreed per year125 hours
Cash payments $ 21,000 $ 6,000
Green Plains Cattle Company LLC [Member]
Related Party Transaction [Line Items]
Percent membership interest sold50.00%50.00%
Reduction in selling, general and administrative expenses $ 400,000

Uncategorized Items - gpre-2021

LabelElementValue
Restricted Cash and Cash Equivalents, Currentus-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue $ 11,191,000
Restricted Cash and Cash Equivalents, Currentus-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue207,593,000
Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operationsus-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations194,333,000
Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operationsus-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $ 446,833,000