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Andersons, Inc. (ANDE) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

SEC Filings

Andersons, Inc.

CIK: 821026 Ticker: ANDE

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The Andersons, Inc. Reports Fourth Quarter Results
MAUMEE, OHIO, February 16, 2021 - The Andersons, Inc. (Nasdaq: ANDE)
announces financial results for the fourth quarter ended December 31, 2020.

Fourth Quarter Highlights:

Company reported net income attributable to The Andersons of $16.0 million, or $0.48 per diluted share, and adjusted net income of $19.4 million, or $0.59 per diluted share.
Trade reported pretax income of $28.3 million and adjusted pretax income of $29.3 million on improved merchandising results.
Ethanol reported a pretax loss attributable to the company of $3.5 million that included a $6.6 million non-cash mark-to-market charge.
Plant Nutrient completed its best year since 2014 as it recorded pretax income of $3.2 million for the quarter.
Adjusted EBITDA for the quarter of $85.0 million was comparable year over year despite significant pandemic impacts.

"I am very excited about the recent strong, demand-driven rally in grain and fertilizer markets and what it means for U.S. agriculture and The Andersons,” said President and CEO Pat Bowe. "We have already participated in multi-year highs in grain elevation margins, and have benefited from strong export demand. Fertilizer demand was strong throughout the fourth quarter. With more planted corn acres in the forecast, it looks like strong fertilizer demand will continue."

"We improved our fourth quarter results modestly year over year, and our outlook for 2021 has improved," continued Bowe. "Our Trade income was up substantially on strong merchandising results from our diverse commodity portfolio, and Plant Nutrient's full-year results nearly doubled. Our Ethanol business benefited from the launch of our new high-protein feed products. Finally, Rail remained profitable despite weak railcar demand.

"We continue to benefit greatly from the complementary trading business we acquired in early 2019 and have since successfully integrated. We continue to focus on creating a leaner cost structure, having taken approximately $40 million of cost out of the business in the last two years. In addition to opportunities in the Trade and Plant Nutrient segments, a recovery in the ethanol and rail markets should lead to significant year-over-year increases in EBITDA. In short, we are pleased to see the strength in ag markets and look forward to better financial performance ahead."


The following information was filed by Andersons, Inc. (ANDE) on Tuesday, February 16, 2021 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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Inside Andersons, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

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)
Business Acquisitions
Business Acquisitions (Fair Value Of Assets Acquired And Liabilities Assumed) (Details)
Business Acquisitions (Pro Forma Financial Information) (Details)
Business Acquisitions (Purchase Price Allocation) (Details)
Business Acquisitions (Tables)
Business Acquisitions (Textual) (Details)
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)
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 (Future Minimum Lease Payments Receivable) (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 (Components Of Rail Group Assets) (Details)
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Property, Plant And Equipment (Textual) (Details)
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 (Components Of Lease Income) (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 (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)
Subsequent Events
Subsequent Events (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: 0000821026-21-000060
Submitted to the SEC: Thu Feb 25 2021 3:31:04 PM EST
Accepted by the SEC: Thu Feb 25 2021
Period: Thursday, December 31, 2020
Industry: Wholesale Farm Product Raw Materials

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