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Andersons, Inc. (ANDE) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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ANDE Annual Reports

Andersons, Inc.

CIK: 821026 Ticker: ANDE

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The Andersons, Inc. Reports Fourth Quarter Results; Sets Earnings Records
MAUMEE, OHIO, February 15, 2022 - The Andersons, Inc. (Nasdaq: ANDE)
announces financial results for the fourth quarter ended December 31, 2021.

Fourth Quarter Highlights:

Company reported net income attributable to The Andersons from continuing operations of $32.8 million, or $0.95 per diluted share, and adjusted net income from continuing operations of $39.2 million, or $1.14 per diluted share
Company reported its best ever fourth quarter adjusted pretax income from continuing operations
Trade reported pretax income of $18.3 million and adjusted pretax income of $26.9 million driven by strong asset and merchandising income
Renewables (formerly Ethanol) reported pretax income attributable to the company of $26.5 million, the best fourth quarter since 2013 on strong margins
Plant Nutrient posted a record fourth quarter with pretax income of $15.9 million
Adjusted EBITDA from continuing operations of $130.5 million, also a record quarter

"I'm very pleased with our performance which includes record fourth quarter results for the company and for our Plant Nutrient business. We continued to execute well throughout a good 2021 harvest, particularly in the eastern grain belt, made good operating and commercial decisions and enjoyed additional profit from growth in new markets, such as renewable diesel and supply chain extensions with our new Swiss trading office. During 2021, our teams operated safely and effectively in these strong agriculture markets leading to each of our three business segments reaching record or near-record performance in the quarter," said President and CEO Pat Bowe.

"We enjoyed strong renewable fuels margins in the fourth quarter; remained focused on risk management, effective hedging and strong operational performance; and continued to see good returns from co-products, particularly distillers' corn oil," added Bowe. "We continue to diversify revenues for this group into attractive new product lines; an example of this would be renewable diesel feedstocks. You will note that we have renamed our Ethanol segment 'Renewables' to reflect its broader scope of products and services. We continue to see robust activity in our Trade business profit centers and are focused on executing well and serving customer needs in a continuing volatile commodity environment. Finally, Plant Nutrient followed up a very strong first half with a great second half, leading to a record year. Fertilizer prices and farm income both remain high; we continue to receive good support from our suppliers in this time of tight stocks and expect continued strong performance as we move into 2022."



The following information was filed by Andersons, Inc. (ANDE) on Tuesday, February 15, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Andersons, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Andersons, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Operations
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Commitments And Contingencies
Commitments And Contingencies (Textual) (Details)
Debt
Debt (Non-Recourse Debt) (Details)
Debt (Recourse Debt) (Details)
Debt (Short-Term And Long-Term) (Details)
Debt (Tables)
Debt (Textual) (Details)
Derivatives
Derivatives (Comodity Derivative Contracts Outstanding) (Details)
Derivatives (Current And Noncurrent Derivative Assets) (Details)
Derivatives (Derivatives Gains And Losses) (Details)
Derivatives (Fair Value Of Commodity Derivatives With Cash Collateral) (Details)
Derivatives (Fair Value Of Company's Other Derivatives) (Details)
Derivatives (Schedule Of Open Interest Rate Contracts) (Details)
Derivatives (Tables)
Derivatives (Textual) (Details)
Discontinued Operation (Tables)
Discontinued Operations
Discontinued Operations (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Amounts Recognized In Consolidated Balance Sheets) (Details)
Employee Benefit Plans (Assumed Health Care Cost Trend Rate At Beginning Of Year) (Details)
Employee Benefit Plans (Benefits Expected To Be Paid For Defined Benefit Plans) (Details)
Employee Benefit Plans (Benefits Plans With Accumulated Benefit Obligations In Excess Of Plan Assets) (Details)
Employee Benefit Plans (Components Of Net Period Benefit Plans) (Details)
Employee Benefit Plans (Obligation And Funded Status Of Pension And Postretirement Plans) (Details)
Employee Benefit Plans (Pre-Tax Amounts Recognized In Accumulated Other Comprehensive Loss) (Details)
Employee Benefit Plans (Tables)
Employee Benefit Plans (Textual) (Details)
Employee Benefit Plans (Weighted Average Assumptions Of Pension And Postretirement Benefits) (Details)
Fair Value Measurements
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Value Measurements (Reconciliation Of Ending Balances Of Recurring Fair Value Measurements Using Level 3 Inputs) (Details)
Fair Value Measurements (Summarized Information About Level 3 Fair Value Measurements) (Details)
Fair Value Measurements (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Changes In Goodwill) (Details)
Goodwill And Other Intangible Assets (Intangible Assets) (Details)
Goodwill And Other Intangible Assets (Table)
Goodwill And Other Intangible Assets (Textual) (Details)
Income Taxes
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Income (Loss) Before Income Taxes From Continuing Operations) (Details)
Income Taxes (Income Tax Provision) (Details)
Income Taxes (Reconciliation Of U.S. Federal Tax To Effective Tax Rate) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)
Income Taxes (Tables)
Income Taxes (Textual) (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Components Of Lease Cost) (Details)
Leases (Maturity Analysis Of Lease Liabilities) (Details)
Leases (Summary Of Amounts Recognized In Condensed Consolidated Balance Sheet) (Details)
Leases (Supplemental Cash Flow Information) (Details)
Leases (Tables)
Leases (Weighted Average Discount Rate) (Details)
Leases (Weighted Average Remaining Lease Term) (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Property, Plant And Equipment (Textual) (Details)
Quarterly Consolidated Financial Information (Unaudited)
Quarterly Consolidated Financial Information (Unaudited) (Details)
Quarterly Consolidated Financial Information (Unaudited) (Tables)
Related Party Transactions
Related Party Transactions (Income (Losses) Of Company's Equity Method Investees) (Details)
Related Party Transactions (Investment Balance In Company's Equity Method Investees) (Details)
Related Party Transactions (Related Party Transactions Entered Into During The Period) (Details)
Related Party Transactions (Summarized Financial Information Of Company's Equity Method Investees) (Details)
Related Party Transactions (Tables)
Revenue
Revenue (Breakdown Of Revenues By Accounting Standards) (Details)
Revenue (Contract Liabilities Balances) (Details)
Revenue (Disaggregation Of Revenues) (Details)
Revenue (Tables)
Revenue (Textual) (Details)
Sale Of Assets
Sale Of Assets (Details)
Schedule Ii - Consolidated Valuation And Qualifying Accounts
Schedule Ii - Consolidated Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information (Textual) (Details)
Stock Compensation Plans
Stock Compensation Plans (Eps Psus Activity) (Details)
Stock Compensation Plans (Restricted Stock Awards) (Details)
Stock Compensation Plans (Stock Options Activity) (Details)
Stock Compensation Plans (Tables)
Stock Compensation Plans (Textual) (Details)
Stock Compensation Plans (Tsr Psus Activity) (Details)
Stock Compensation Plans (Weighted Average Assumptions Used To Determine Fair Value Of Esp Plan) (Details)
Stock Compensation Plans (Weighted Average Assumptions Used To Determine Fair Value Of Tsr Psus) (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Ticker: ANDE
CIK: 821026
Form Type: 10-K Annual Report
Accession Number: 0000821026-22-000050
Submitted to the SEC: Thu Feb 24 2022 1:52:10 PM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: Wholesale Farm Product Raw Materials

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