The Andersons, Inc
(NASDAQ:ANDE)

The Andersons, Inc., an agriculture company, operates in trade, ethanol, plant nutrient, and rail sectors in the United States and internationally. The company's Trade segment operates grain elevators; stores grains; and provides grain marketing, risk management, and corn origination services to its...

Website: http://www.andersonsinc.com

Founded: 1947

Full Time Employees: 2,247

Sector: Consumer Defensive

Industry: Food Distribution

Consumer Defensive

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Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31

sales and merchandising revenues	2,536,249,000	2,677,712,000	3,135,869,000	2,659,098,000	3,123,138,000	2,620,988,000	2,795,205,000	2,718,217,000	3,213,000,000	3,635,691,000	4,020,183,000	3,881,238,000	4,677,488,000	4,219,325,000	4,450,617,000	3,977,954,000	3,782,702,000	2,998,824,000	3,273,726,000	2,635,729,000	2,542,917,000	1,922,233,000	1,890,180,000	1,853,105,000	1,885,603,000	1,982,755,000	2,325,041,000	1,976,792,000	812,662,000	685,579,000	911,402,000	635,739,000	1,004,072,000	836,595,000	993,662,000	852,016,000	1,113,055,000	859,612,000	1,064,244,000	887,879,000	1,104,140,000	935,774,000	1,208,492,000	950,090,000	1,271,768,000	952,927,000	1,312,082,000	1,003,294,000	1,584,266,000	1,181,374,000	1,566,964,000	1,271,970,000	1,680,641,000	1,138,402,000	1,315,834,000	1,137,133,000	1,297,830,000	938,660,000	1,338,167,000	1,001,674,000	1,153,969,000	706,825,000	810,999,000	721,998,000
cost of sales and merchandising revenues	2,304,758,000	2,506,840,000	2,977,453,000	2,506,226,000	2,910,028,000	2,443,863,000	2,619,834,000	2,589,897,000	2,995,286,000	3,477,990,000	3,798,246,000	3,733,227,000	4,507,465,000	4,055,560,000	4,219,776,000	3,858,419,000	3,588,688,000	2,876,989,000	3,099,682,000	2,513,017,000	2,409,226,000	1,820,398,000	1,783,914,000	1,789,975,000	1,747,244,000	1,873,614,000	2,164,313,000	1,867,128,000	718,700,000	631,715,000	820,928,000	572,034,000	919,236,000	766,924,000	905,828,000	775,558,000	1,009,361,000	782,597,000	967,202,000	820,124,000	1,004,976,000	850,584,000	1,100,319,000	866,777,000	1,157,817,000	868,009,000	1,190,587,000	926,519,000	1,474,689,000	1,108,228,000	1,463,735,000	1,192,697,000	1,589,472,000	1,060,086,000	1,213,184,000	1,051,263,000	1,211,399,000	873,696,000	1,215,395,000	922,989,000	1,071,503,000	653,716,000	723,445,000	663,448,000
gross profit	231,491,000	170,872,000	158,416,000	152,872,000	213,110,000	177,125,000	175,371,000	128,320,000	217,714,000	157,701,000	221,937,000	148,011,000	170,023,000	163,765,000	230,841,000	119,535,000	194,014,000	121,835,000	174,044,000	122,712,000	133,691,000	101,835,000	106,266,000	63,130,000	138,359,000	109,141,000	160,728,000	109,664,000	93,962,000	53,864,000	90,474,000	63,705,000	84,836,000	69,671,000	87,834,000	76,458,000	103,694,000	77,015,000	97,042,000	67,755,000	99,164,000	85,190,000	108,173,000	83,313,000	113,951,000	84,918,000	121,495,000	76,775,000	109,577,000	73,146,000	103,229,000	79,273,000	91,169,000	78,316,000	102,650,000	85,870,000	86,431,000	64,964,000	122,772,000	78,685,000	82,466,000	53,109,000	87,554,000	58,550,000
yoy	8.63%	-3.53%	-9.67%	19.13%	-2.11%	12.32%	-20.98%	-13.30%	28.05%	-3.70%	-3.86%	23.82%	-12.37%	34.42%	32.63%	-2.59%	45.12%	19.64%	63.78%	94.38%	-3.37%	-6.69%	-33.88%	-42.43%	47.25%	102.62%	77.65%	72.14%	10.76%	-22.69%	3.01%	-16.68%	-18.19%	-9.54%	-9.49%	12.84%	4.57%	-9.60%	-10.29%	-18.67%	-12.98%	0.32%	-10.97%	8.52%	3.99%	16.09%	17.69%	-3.15%	20.19%	-6.60%	0.56%	-7.68%	5.48%	20.55%	-16.39%	9.13%	4.81%	22.32%	40.22%	34.39%
qoq	35.48%	7.86%	3.63%	-28.27%	20.32%	1.00%	36.67%	-41.06%	38.05%	-28.94%	49.95%	-12.95%	3.82%	-29.06%	93.12%	-38.39%	59.24%	-30.00%	41.83%	-8.21%	31.28%	-4.17%	68.33%	-54.37%	26.77%	-32.10%	46.56%	16.71%	74.44%	-40.46%	42.02%	-24.91%	21.77%	-20.68%	14.88%	-26.27%	34.64%	-20.64%	43.22%	-31.67%	16.40%	-21.25%	29.84%	-26.89%	34.19%	-30.11%	58.25%	-29.94%	49.81%	-29.14%	30.22%	-13.05%	16.41%	-23.71%	19.54%	-0.65%	33.04%	-47.09%	56.03%	-4.58%	55.28%	-39.34%	49.54%
operating, administrative and general expenses	132,337,000	172,554,000	134,589,000	145,754,000	147,154,000	120,494,000	116,614,000	119,358,000	132,712,000	126,306,000	116,007,000	117,235,000	136,471,000	115,539,000	112,559,000	101,987,000	110,919,000	110,275,000	109,976,000	99,872,000	105,792,000	98,219,000	90,136,000	105,060,000	109,457,000	107,118,000	106,918,000	113,349,000	67,776,000	65,986,000	59,853,000	64,257,000	67,599,000	68,456,000	69,928,000	81,947,000	84,342,000	78,767,000	75,405,000	79,881,000	87,070,000	88,698,000	83,743,000	78,604,000	94,884,000	76,737,000	76,275,000	70,985,000	85,768,000	69,193,000	61,464,000	62,008,000	69,590,000	58,029,000	59,210,000	60,100,000	63,167,000	54,486,000	57,730,000	53,707,000	48,677,000	50,143,000	51,107,000	45,403,000
interest expense	12,090,000	10,478,000	11,495,000	13,096,000	10,266,000	8,361,000	6,611,000	6,522,000	8,101,000	8,188,000	13,953,000	16,625,000	14,087,000	14,982,000	16,921,000	10,859,000	8,444,000	8,799,000	13,454,000	13,169,000	13,292,000	10,569,000	11,827,000	15,587,000	14,078,000	13,975,000	15,727,000	15,910,000	7,848,000	5,176,000	7,825,000	6,999,000	4,095,000	5,384,000	5,988,000	6,100,000	3,073,000	4,441,000	6,554,000	7,051,000	3,862,000	6,147,000	4,025,000	6,039,000	5,359,000	4,253,000	6,146,000	6,002,000	4,253,000	5,348,000	4,855,000	6,404,000	5,963,000	5,482,000	5,380,000	5,330,000	4,647,000	5,711,000	7,562,000	7,336,000	5,942,000	4,625,000	4,663,000	4,635,000
other income	18,643,000	38,003,000	12,503,000	9,191,000	11,560,000	13,922,000	5,200,000	11,528,000	14,860,000	15,178,000	12,441,000	8,004,000	6,041,000	794,000	22,826,000	4,162,000	7,853,000	13,806,000	5,307,000	7,542,000	7,751,000	4,434,000	3,450,000	4,813,000	13,460,000	2,598,000	5,563,000	-1,514,000	5,053,000	6,434,000	2,828,000	1,686,000	5,327,000	5,588,000	4,632,000	7,897,000	3,631,000	2,216,000	5,682,000	3,246,000	26,237,000	3,355,000	13,772,000	3,107,000	6,031,000	1,685,000	3,797,000	19,612,000	3,253,000	7,605,000	1,292,000	2,726,000	5,316,000	3,492,000	2,671,000	3,246,000	1,385,250	1,217,000	2,018,000	2,306,000	2,274,000	3,561,000	1,881,000	3,654,000
income before income taxes	87,578,000	25,843,000	24,835,000	3,213,000	33,376,750	62,192,000	57,346,000	13,968,000											56,766,000	19,007,000	22,768,000	-2,499,000	7,832,000	-52,575,000	20,375,000	-13,082,000	40,408,000	-19,590,000	29,931,000	-3,639,000	29,155,000	-2,292,000	-895,000	5,005,000	-19,065,000	-5,570,000	16,735,000	4,445,000	23,109,000	-22,908,000	-64,514,000	-2,455,000	50,367,000	5,038,000	39,631,000	29,530,000	75,084,000	39,901,000	51,523,000	28,387,000	48,212,000	21,391,000	22,013,000	24,324,000	45,827,000	27,969,000	32,959,000	15,715,000	72,010,000	27,194,000	40,934,000	806,000	40,332,000	22,071,000
income tax provision	16,486,000	-228,000	8,028,000	-2,118,000	4,227,750	10,731,000	4,876,000	1,303,000											10,642,000	5,745,000			-12,200,000		14,708,000	-7,212,000	10,997,000	-5,442,000	6,263,000	-1,764,000	7,742,000	-310,000	-70,639,000	2,389,000	7,652,000	-2,535,000	5,425,000	1,104,000	7,668,000	-7,286,000			17,969,000	1,093,000	11,664,000	10,251,000	25,714,000	13,872,000	16,904,000	10,348,000	17,480,000	9,079,000	7,838,000	9,133,000	17,356,000	10,241,000	10,788,000	4,484,000	25,975,000	9,806,000	14,856,000	438,000	14,553,000	9,415,000
net income	71,092,000	26,071,000	16,807,000	5,331,000	54,104,000	51,461,000	52,470,000	12,665,000	78,437,000	30,523,000	82,686,000	-59,117,000	15,096,000	44,272,000	101,661,000	5,950,000	62,344,000	14,136,000	46,124,000	13,262,000	14,649,000	2,215,000	20,032,000	-51,111,000	5,667,000	-5,870,000	29,411,000	-14,148,000	23,668,000	-1,875,000	21,413,000	-1,982,000	69,744,000	2,616,000	-26,717,000	-3,035,000	11,310,000	3,341,000	15,441,000	-15,622,000	-46,716,000	-950,000	32,398,000	3,945,000	27,967,000	19,279,000	49,370,000	26,029,000	34,619,000	18,039,000	30,732,000	12,312,000	14,175,000	15,191,000	28,471,000	17,728,000	22,171,000	11,231,000	46,035,000	17,388,000	26,078,000	368,000	25,779,000	12,656,000
yoy	31.40%	-49.34%	-67.97%	-57.91%	-31.02%	68.60%	-36.54%	-121.42%	419.59%	-31.06%	-18.66%	-1093.56%	-75.79%	213.19%	120.41%	-55.13%	325.59%	538.19%	130.25%	-125.95%	158.50%	-137.73%	-31.89%	261.26%	-76.06%	213.07%	37.35%	613.82%	-66.06%	-171.67%	-180.15%	-34.70%	516.66%	-21.70%	-273.03%	-80.57%	-124.21%	-451.68%	-52.34%	-495.99%	-267.04%	-104.93%	-34.38%	-84.84%	-19.21%	6.87%	60.65%	111.41%	144.23%	18.75%	7.94%	-30.55%	-36.07%	35.26%	-38.15%	1.96%	-14.98%	2951.90%	78.58%	37.39%
qoq	172.69%	55.12%	215.27%	-90.15%	5.14%	-1.92%	314.29%	-83.85%	156.98%	-63.09%	-239.87%	-491.61%	-65.90%	-56.45%	1608.59%	-90.46%	341.03%	-69.35%	247.79%	-9.47%	561.35%	-88.94%	-139.19%	-1001.91%	-196.54%	-119.96%	-307.88%	-159.78%	-1362.29%	-108.76%	-1180.37%	-102.84%	2566.06%	-109.79%	780.30%	-126.83%	238.52%	-78.36%	-198.84%	-66.56%	4817.47%	-102.93%	721.24%	-85.89%	45.06%	-60.95%	89.67%	-24.81%	91.91%	-41.30%	149.61%	-13.14%	-6.69%	-46.64%	60.60%	-20.04%	97.41%	-75.60%	164.75%	-33.32%	6986.41%	-98.57%	103.69%
net income attributable to noncontrolling interests	3,658,000	5,933,000	8,950,000	5,047,000	9,014,000	24,096,000	16,494,000	7,084,000	1,022,000	20,815,000	27,640,000	-44,367,000	7,456,750	7,524,000	21,856,000	447,000	-205,500	-1,602,000	2,625,000
net income attributable to the andersons, inc.	67,434,000	20,138,000	7,857,000	284,000	45,090,000	27,365,000	35,976,000	5,581,000	51,186,000	9,708,000	55,046,000	-14,750,000	9,024,000	36,748,000	79,805,000	5,503,000	29,642,000	15,738,000	43,499,000	15,107,000	15,991,000	-1,058,000	30,439,000		6,649,000	-4,237,000	29,888,000	-13,993,000	23,752,000	-2,098,000	21,529,000	-1,700,000	69,719,000	2,533,000	-26,653,000	-3,089,000	10,145,000	1,722,000	14,423,000	-14,696,000	-47,028,000	-1,227,000	31,092,000	4,097,000	25,892,000	16,825,000	44,301,000	22,708,000	30,661,000	17,161,000	29,539,000	12,578,000	14,990,000	16,884,000	29,199,000	18,407,000	21,697,000	10,925,000	45,218,000	17,266,000	25,834,000	1,394,000	25,169,000	12,265,000
average number of shares outstanding - basic	8,525,500	34,010,000	34,199,000	34,100,000	8,505,000	34,069,000	34,060,000	33,932,000	8,426,500	33,752,000	33,744,000	33,622,000	8,451,250	33,825,000	33,850,000	33,738,000
average number of share outstanding - diluted	8,570,000	34,184,000	34,298,000	34,316,000	8,580,250	34,358,000	34,339,000	34,243,000	8,566,500	34,270,000	34,165,000	33,622,000	8,617,250	34,407,000	34,416,000	34,279,000
earnings per share attributable to the andersons, inc. common shareholders:
basic earnings per share attributable to the andersons, inc. common shareholders	0.208	0.59	0.23	0.01	0.508	0.8	1.06	0.16
diluted earnings per share attributable to the andersons, inc. common shareholders	0.205	0.59	0.23	0.01	0.503	0.8	1.05	0.16
asset impairment												87,156,000													38,131,000		3,081,000				6,272,000
income before income taxes from continuing operations									91,761,000	38,385,000	104,418,000	-65,001,000	31,103,000	34,719,000	118,153,000	10,607,000	76,636,000	16,317,000
income tax provision from continuing operations									13,324,000	7,862,000	21,732,000	-5,884,000	9,933,000	9,839,000	15,753,000	4,103,000	11,163,000	4,027,000
net income from continuing operations									78,437,000	30,523,000	82,686,000	-59,117,000	21,170,000	24,880,000	102,400,000	6,504,000	65,473,000	12,290,000
income from discontinued operations, net of income taxes													-6,074,000	19,392,000	-739,000	-554,000	-3,129,000	1,846,000
basic earnings:
continuing operations									1.52	0.29	1.63	-0.44	0.45	0.51	2.38	0.18	0.98	0.42
discontinued operations													-0.18	0.57	-0.02	-0.02	-0.09	0.06
diluted earnings:
loss from discontinued operations, net of income taxes
other income, net:
equity in earnings of affiliates													-1,399,250	681,000	-6,034,000	-244,000	2,453,000	-250,000	845,000	1,794,000	410,000	20,000	79,000	129,000	-4,992,000	-3,728,000	-157,000	1,519,000	6,540,000	7,225,000	9,803,000	3,573,000	8,630,000	3,586,000	6,385,000	-1,878,000	5,932,000	8,422,000	2,344,000	-6,977,000	8,629,000	3,845,000	16,190,000	3,261,000	19,892,000	23,917,000	32,213,000	20,501,000	28,714,000	22,177,000	10,010,000	7,804,000	1,081,000	6,027,000	5,096,000	4,283,000	11,961,000	9,731,000	12,512,000	7,246,000	10,531,000	-1,096,000	6,667,000	9,905,000
per common share:
basic earnings attributable to the andersons, inc. common shareholders																			1,310	460	480	-30	920		200	-130	920	-430	840	-70	760	-60	2,470	90	-940	-110	360	60	510	-520	-1,650	-40	1,090	140	900	590	1,560	800	30	920	1,580	670	800	910	1,570	990	1,170	590	2,440	930	1,400	80	1,370	670
diluted earnings attributable to the andersons, inc. common shareholders																			1,300	450	480	-30	920		200	-130	910	-430	840	-70	760	-60	2,460	90	-940	-110	360	60	510	-520	-1,650	-40	1,090	140	890	590	1,560	800	30	910	1,570	670	800	900	1,560	980	1,170	590	2,420	930	1,390	80	1,360	660
net loss attributable to the noncontrolling interests																				-1,845,000			-10,407,000	-13,449,000																												-266,000
income tax benefit																					-4,594,500	-4,714,000		-1,464,000																	4,389,000	-1,505,000
net income attributable to the noncontrolling interests																					-5,145,750	3,273,000			-566,250	-1,633,000	-477,000	-155,000	-84,000	223,000	-116,000	-282,000	25,000	83,000	-64,000	54,000	1,165,000	1,619,000	1,018,000	-926,000	312,000	277,000	1,306,000	-152,000	2,075,000	2,454,000	5,069,000	3,321,000	3,958,000	878,000	1,193,000		-815,000	-1,693,000	-728,000
net loss attributable to the andersons, inc.																								-37,662,000
basic loss attributable to the andersons, inc. common shareholders																								-1,150
diluted loss attributable to the andersons, inc. common shareholders																								-1,150
other income:
goodwill impairment																																	17,081,000		42,000,000
dividends declared																													170	165	165	165	165	160	160	160	160	155	155	155	155	140	140	140
dividends paid																																													140	110	110	110	-50	160	160	160	150	150	150	150	110	110	110	110	90	90	90	87.5
net income attributable to the noncontrolling interest																																																								-679,000			-817,000
net (income) loss attributable to the noncontrolling interest																																																									-311,250	-306,000		-122,000	-244,000	1,026,000	-610,000	-391,000
per common share data:
earnings per common share:

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31

assets
current assets:
cash and cash equivalents	98,283,000	81,630,000	350,970,000	219,219,000	561,771,000	454,065,000	530,386,000	283,902,000	643,854,000	418,055,000	96,293,000	70,853,000	115,269,000	140,771,000	86,035,000	36,381,000	216,444,000	216,874,000	27,538,000	35,393,000							11,087,000	29,991,000	22,593,000	16,820,000	58,611,000	31,497,000	34,919,000	24,478,000	18,934,000	29,645,000	62,630,000	78,158,000	31,383,000	46,301,000	63,750,000	40,773,000	54,461,000	114,704,000	326,946,000	47,190,000	43,693,000	309,085,000	134,441,000	75,920,000	58,284,000	138,218,000	80,370,000	23,930,000	31,874,000	20,390,000	38,510,000	18,616,000	22,320,000	29,219,000	25,732,000	204,317,000	74,459,000
accounts receivables	652,472,000				764,550,000				762,549,000				1,248,878,000				835,180,000				659,834,000				536,367,000				207,285,000				183,238,000				194,698,000				170,912,000			183,059,000				173,930,000				208,877,000				167,640,000
inventories	1,365,121,000	899,278,000	771,868,000	1,249,047,000	1,286,811,000	884,339,000	686,540,000	994,543,000	1,166,700,000	985,292,000	990,789,000	1,551,101,000	1,731,725,000	1,556,426,000	1,618,326,000	1,950,303,000	1,814,538,000	1,017,804,000	912,299,000	1,295,061,000	1,300,693,000	754,604,000	616,323,000	1,028,076,000	1,170,536,000	741,086,000	753,641,000	1,026,465,000	690,804,000	490,331,000	495,611,000	731,629,000	648,703,000	475,602,000	463,205,000	641,294,000	682,747,000	427,754,000	486,236,000	703,452,000	747,399,000	508,408,000	743,957,000	795,655,000	396,464,000	432,996,000	725,584,000	614,923,000	429,017,000	444,523,000	753,378,000	776,677,000	682,292,000	597,091,000	787,646,000	760,459,000	458,314,000	469,551,000	775,017,000	647,189,000
commodity derivative assets – current	135,466,000	154,449,000	147,937,000	155,028,000	148,801,000	122,326,000	180,189,000	178,623,000	178,083,000	239,595,000	347,684,000	222,036,000	295,588,000	502,097,000	638,357,000	769,916,000	410,813,000	409,647,000	507,148,000	317,939,000	320,706,000	140,066,000	112,089,000	149,070,000	107,863,000	120,510,000	233,015,000	158,277,000	51,421,000	76,861,000	54,259,000	43,810,000	30,702,000	45,202,000	11,619,000	48,049,000	45,447,000	59,837,000	115,924,000	61,316,000	49,826,000	39,860,000	86,824,000	92,771,000	126,396,000	162,427,000	119,330,000	71,319,000	105,390,000	121,789,000	158,079,000	103,105,000	166,264,000	122,010,000	33,845,000	83,950,000	143,010,000						25,942,000
other current assets	125,067,000	110,045,000	120,780,000	92,968,000	88,344,000	113,726,000	108,634,000	55,134,000	55,777,000	67,471,000	72,228,000	81,407,000	71,622,000	75,402,000	70,367,000	113,589,000	74,468,000	92,159,000	65,740,000	88,771,000	106,053,000	102,302,000	102,755,000	85,372,000	75,681,000	82,197,000	58,439,000	60,222,000	50,703,000	58,374,000	42,648,000	57,147,000	63,790,000	53,958,000	59,873,000	83,623,000	72,133,000	43,761,000	48,754,000	76,575,000	90,412,000	44,765,000	65,017,000	60,492,000	36,518,000	24,596,000	48,214,000	47,188,000	42,278,000	44,936,000	63,350,000	54,016,000	41,568,000	38,535,000	62,577,000	34,649,000	41,559,000	30,867,000	46,721,000	34,501,000	35,268,000	20,604,000
total current assets	2,376,409,000	1,961,163,000	2,175,447,000	2,528,744,000	2,850,277,000	2,331,074,000	2,249,299,000	2,213,908,000	2,806,963,000	2,527,099,000	2,537,265,000	3,050,468,000	3,465,953,000	3,265,227,000	3,572,879,000	3,940,703,000	3,372,328,000	2,498,394,000	2,234,300,000	2,436,889,000	2,416,409,000	1,540,249,000	1,398,189,000	1,821,882,000	1,945,342,000	1,488,775,000	1,768,627,000	1,886,609,000	1,023,198,000	878,293,000	879,421,000	1,137,879,000	999,211,000	803,815,000	751,023,000	993,991,000	1,058,126,000	783,293,000	895,872,000	1,096,102,000	1,129,522,000	879,417,000	1,173,750,000	1,254,447,000	1,048,915,000	865,193,000	1,138,549,000	1,221,784,000	895,514,000	907,269,000	1,247,050,000	1,297,153,000	1,190,439,000	1,011,040,000	1,162,189,000	1,107,222,000	869,303,000	977,008,000	1,274,421,000	1,138,558,000	830,439,000	632,270,000	708,551,000
other assets:
goodwill	127,856,000				127,856,000			127,856,000	127,856,000	128,542,000	129,342,000	129,342,000	129,342,000	129,342,000	129,342,000	129,342,000	129,342,000	129,342,000	135,709,000	135,709,000	135,709,000	135,709,000	135,709,000	135,360,000	135,360,000	135,872,000	135,872,000	119,641,000	6,024,000	6,024,000	6,024,000	6,024,000	6,024,000	23,105,000	23,105,000	63,934,000	63,934,000	63,934,000	63,934,000	63,934,000	63,934,000	117,859,000	72,365,000	72,365,000	58,554,000	58,554,000	58,554,000	58,554,000	58,554,000	54,387,000
other intangible assets	63,510,000				69,345,000			80,527,000	85,579,000	90,768,000	89,605,000	95,134,000	100,907,000	99,317,000	105,222,000	111,055,000	117,137,000	118,690,000	127,756,000	135,611,000	142,940,000	152,214,000	160,180,000	167,398,000	175,312,000	181,100,000	188,818,000	206,572,000	99,138,000	100,730,000	105,289,000	108,855,000	112,893,000	113,371,000	113,492,000	103,057,000	106,100,000	110,155,000	113,245,000	117,023,000	120,240,000
right of use assets	108,792,000				104,630,000			52,541,000	54,234,000	56,919,000	60,003,000	59,209,000	61,890,000	59,146,000	50,233,000	51,821,000	52,146,000	50,270,000	61,299,000	55,802,000	56,031,000	58,108,000	62,838,000	62,182,000	76,401,000	70,773,000	74,073,000	85,766,000
other assets	96,765,000	430,035,000	387,059,000	408,692,000	101,055,000	347,274,000		97,128,000	87,010,000	104,586,000	90,390,000	89,174,000	87,175,000	99,650,000	91,758,000	92,506,000	69,068,000	74,923,000	73,678,000	63,858,000	49,907,000	23,601,000	23,152,000	24,305,000	20,804,000	19,499,000	21,841,000	26,692,000	22,341,000	26,174,000	26,888,000	28,566,000	12,557,000	11,852,000	8,686,000	8,108,000	10,411,000	5,921,000	6,549,000	5,803,000	9,515,000	107,742,000	54,454,000	59,162,000	54,587,000	58,431,000	55,974,000	59,456,000	52,177,000	49,394,000	104,535,000	105,129,000	67,801,000	70,040,000	68,311,000	53,327,000	48,010,000	46,610,000
total other assets	396,923,000				402,886,000			358,052,000	354,679,000	380,815,000	369,340,000	372,859,000	379,314,000	387,455,000	400,853,000	429,988,000	410,862,000	412,088,000	398,442,000	390,980,000	384,587,000	395,000,000	406,962,000	412,155,000	432,683,000	526,535,000
property, plant and equipment	939,500,000	905,761,000	883,985,000	860,246,000	868,151,000	709,951,000	694,136,000	689,113,000	693,365,000	680,188,000	663,441,000	678,717,000	762,729,000	765,939,000	763,443,000	772,245,000	786,029,000	797,660,000	841,762,000	858,269,000	879,179,000	888,511,000	906,017,000	921,585,000	938,418,000	703,396,000	695,827,000	671,805,000	476,711,000	434,505,000	408,575,000	393,763,000	384,677,000	419,348,000	423,042,000	440,395,000	450,052,000	460,247,000	447,267,000	462,661,000	455,260,000	489,145,000	451,638,000	453,607,000	401,800,000	390,587,000	386,132,000	387,458,000	380,374,000	371,716,000	364,307,000	358,878,000	283,394,000	266,275,000	187,584,000	175,087,000	164,893,000	153,642,000	150,262,000	151,032,000
total assets	3,712,832,000	3,296,959,000	3,446,491,000	3,797,682,000	4,121,314,000	3,388,299,000	3,299,813,000	3,261,073,000	3,855,007,000	3,588,102,000	3,570,046,000	4,102,044,000	4,607,996,000	4,418,621,000	4,737,175,000	5,142,936,000	4,569,219,000	3,708,142,000	4,049,089,000	4,266,737,000	4,272,121,000	3,411,611,000	3,303,989,000	3,752,691,000	3,900,741,000	3,284,452,000	3,571,859,000	3,660,252,000	2,392,003,000	2,151,618,000	2,117,788,000	2,363,528,000	2,162,354,000	1,964,160,000	1,911,425,000	2,161,753,000	2,232,849,000	1,984,411,000	2,107,415,000	2,319,638,000	2,359,101,000	2,152,365,000	2,287,627,000	2,364,692,000	2,082,992,000	1,892,628,000	2,125,583,000	2,273,556,000	1,882,291,000	1,820,981,000	2,151,788,000	2,182,304,000	1,991,440,000	1,794,774,000	1,824,756,000	1,734,123,000	1,458,577,000	1,543,849,000	1,828,664,000	1,699,390,000	1,362,531,000	1,155,445,000	1,209,582,000
liabilities and equity
current liabilities:
short-term debt	249,420,000	141,356,000	104,467,000	222,691,000	166,614,000	14,716,000	4,021,000	10,148,000	43,106,000	14,138,000	102,752,000	638,210,000	272,575,000	652,947,000	1,161,428,000	1,449,768,000	501,792,000	281,199,000	757,271,000	915,205,000	403,703,000	100,405,000	96,071,000	392,450,000	147,031,000	138,249,000	426,125,000	434,304,000	205,000,000	132,000,000	185,000,000	489,000,000	22,000,000	19,000,000	124,000,000	255,000,000	29,000,000		179,404,000	274,002,000	16,990,000	141,250,000	311,660,000	2,166,000	451,000
trade and other payables	918,691,000	782,683,000	572,232,000	661,202,000	1,047,436,000	774,347,000	607,083,000	625,836,000	1,055,473,000	822,153,000	641,376,000	768,872,000	1,423,633,000	930,027,000	772,996,000	741,124,000	1,199,324,000	825,923,000	547,169,000	538,691,000	957,683,000	641,812,000	503,892,000	553,416,000	873,081,000	594,708,000	527,250,000	590,258,000	462,535,000	344,406,000	282,221,000	263,519,000	503,571,000	381,359,000	267,194,000	276,834,000	581,826,000	356,931,000	302,413,000	367,338,000	668,788,000	358,190,000
customer prepayments and deferred revenue	195,331,000	71,989,000	73,545,000	223,702,000	194,025,000	67,899,000	124,424,000	174,651,000	187,054,000	211,867,000	189,947,000	309,546,000	370,524,000	258,828,000	184,154,000	384,723,000	358,119,000	147,225,000	58,155,000	163,935,000	180,160,000	49,573,000	45,734,000	121,148,000	133,585,000	35,274,000	49,761,000	148,345,000	32,533,000	38,242,000	16,103,000	81,778,000	59,710,000	29,520,000	15,113,000	81,628,000	48,590,000	15,725,000	18,252,000	100,384,000	66,762,000	25,927,000	130,254,000	99,617,000	27,246,000	21,670,000	124,981,000	59,304,000	23,974,000	25,621,000	160,191,000	99,164,000	77,278,000	55,912,000	115,109,000	79,557,000	82,785,000	64,231,000	115,908,000	78,550,000	48,575,000	12,712,000	86,128,000
commodity derivative liabilities – current	51,153,000	68,618,000	79,253,000	69,648,000	59,766,000	85,640,000	128,847,000	67,079,000	90,849,000	142,511,000	251,101,000	107,983,000	98,519,000	137,168,000	185,903,000	216,836,000	128,911,000	78,702,000	90,366,000	91,448,000	146,990,000	79,159,000	65,186,000	90,491,000	46,942,000	67,606,000	69,369,000	66,623,000	32,647,000	91,403,000	85,160,000	15,424,000	29,651,000	38,578,000	18,104,000	29,914,000	23,167,000	59,770,000	43,183,000	33,394,000	37,387,000	42,622,000	55,401,000	64,075,000	229,265,000	86,134,000	32,153,000	63,954,000	88,234,000	58,183,000	50,157,000	33,277,000	43,589,000	29,764,000	34,113,000	15,874,000	55,354,000						62,636,000
current maturities of long-term debt	63,375,000	63,888,000	64,210,000	62,675,000	36,139,000	27,727,000	27,671,000	27,617,000	27,561,000	27,535,000	27,511,000	85,567,000	110,155,000	112,029,000	53,951,000	54,158,000	32,256,000	106,255,000	56,582,000	49,937,000	75,475,000	67,786,000	68,477,000	80,758,000	62,899,000	66,899,000	66,678,000	55,160,000	21,589,000	15,677,000	13,700,000	14,134,000	54,205,000	53,972,000	62,482,000	56,144,000	47,545,000	51,520,000	53,720,000	54,044,000	27,786,000	27,188,000	19,037,000	76,415,000	76,757,000	89,387,000	90,760,000	51,998,000	44,232,000	45,096,000	43,052,000	15,145,000	32,655,000	29,647,000	30,342,000	32,208,000	45,171,000	45,432,000	42,783,000	24,524,000	23,953,000	23,986,000	22,430,000
accrued expenses and other current liabilities	208,427,000	201,939,000	186,902,000	194,390,000	227,192,000	207,543,000	192,683,000	177,953,000	232,288,000	189,430,000	180,552,000	202,133,000	245,916,000	206,069,000	211,830,000	205,958,000	230,148,000	173,215,000	181,015,000	158,900,000	167,671,000	157,801,000	147,422,000	147,225,000	176,381,000	162,749,000	165,383,000	151,648,000	79,046,000	68,925,000	74,512,000	60,095,000	69,579,000	67,064,000	69,256,000	65,952,000	69,648,000	68,465,000	71,169,000	65,129,000	70,324,000	72,034,000	64,065,000	78,610,000	70,598,000	81,260,000	56,290,000	70,295,000	63,900,000	57,456,000	52,519,000	66,964,000	53,631,000	51,283,000	45,994,000	60,445,000	49,487,000	51,410,000	42,119,000	48,851,000	39,776,000	49,408,000	37,625,000
total current liabilities	1,686,397,000	1,330,473,000	1,080,609,000	1,434,308,000	1,731,172,000	1,177,872,000	1,084,729,000	1,083,284,000	1,636,331,000	1,407,634,000	1,393,239,000	2,112,311,000	2,521,322,000	2,320,507,000	2,577,576,000	3,062,767,000	2,463,929,000	1,723,161,000	1,690,558,000	1,918,116,000	1,931,682,000	1,096,536,000	926,782,000	1,385,488,000	1,439,919,000	1,065,485,000	1,304,566,000	1,446,338,000	833,350,000	690,653,000	656,696,000	923,950,000	738,716,000	589,493,000	556,149,000	765,472,000	799,776,000	552,411,000	668,141,000	894,291,000	888,037,000	667,211,000	950,794,000	1,027,706,000	791,628,000	613,216,000	891,905,000	992,333,000	662,579,000	598,344,000	964,029,000	992,807,000	937,088,000	754,690,000	879,048,000	794,251,000	553,482,000	624,261,000	964,806,000	836,743,000	557,285,000	332,969,000	407,036,000
long-term lease liabilities	71,545,000				65,312,000			31,223,000	31,659,000	32,883,000	34,435,000	35,727,000	37,147,000	34,779,000	28,929,000	31,419,000	31,322,000	31,332,000	41,852,000	37,246,000	37,177,000	38,232,000	41,061,000	43,308,000	51,091,000	47,299,000	48,401,000	57,451,000
long-term debt, less current maturities	560,016,000	569,052,000	578,464,000	588,087,000	608,151,000	542,564,000	549,378,000	556,174,000	562,960,000	569,730,000	576,489,000	486,892,000	492,518,000	497,988,000	563,447,000	571,181,000	600,487,000	542,821,000	866,454,000	906,720,000	916,540,000	916,087,000	975,973,000	987,526,000	1,016,248,000	968,117,000	1,007,012,000	982,025,000	496,187,000	437,280,000	435,580,000	438,628,000	418,339,000	371,315,000	354,066,000	365,971,000	397,065,000	395,559,000	398,746,000	402,360,000	436,208,000	417,279,000	323,258,000	298,638,000	289,448,000	300,220,000	306,161,000	375,213,000	381,018,000	409,020,000	412,700,000	427,243,000	312,404,000	317,648,000	220,417,000	238,885,000	235,729,000	260,645,000	263,218,000	276,825,000	264,349,000	281,740,000	272,535,000
other long-term liabilities	104,639,000	174,417,000	176,908,000	180,853,000	61,838,000	144,855,000	145,444,000	55,593,000	49,089,000	70,552,000	70,371,000	66,311,000	63,160,000	79,727,000	83,521,000	77,173,000	78,531,000	81,587,000	52,049,000	48,623,000	55,915,000	60,075,000	65,615,000	65,703,000	25,809,000	40,927,000	18,398,000	12,262,000	32,184,000	30,615,000	30,325,000	31,536,000	33,129,000	34,407,000	34,441,000	36,125,000	27,833,000	30,525,000	30,430,000	27,463,000	18,176,000	14,934,000	14,871,000	15,507,000	13,902,000	15,032,000	14,749,000	15,386,000	17,129,000	15,634,000	16,898,000	18,406,000	14,083,000	11,546,000	44,950,000	43,014,000	35,421,000	33,757,000	25,759,000	25,183,000	18,455,000	17,472,000
total liabilities	2,422,597,000	2,073,942,000	1,835,981,000	2,203,248,000	2,521,478,000	1,865,291,000	1,779,551,000	1,785,423,000	2,338,620,000	2,139,016,000	2,131,564,000	2,755,632,000	3,178,227,000	2,992,080,000	3,319,969,000	3,825,715,000	3,261,515,000	2,472,129,000	2,824,125,000	3,084,186,000	3,111,461,000	2,274,384,000	2,171,906,000	2,638,829,000	2,705,086,000	2,273,102,000	2,551,220,000	2,661,966,000	1,515,239,000	1,308,975,000	1,270,798,000	1,540,771,000	1,339,455,000	1,214,349,000	1,163,633,000	1,384,391,000	1,442,152,000	1,204,244,000	1,324,312,000	1,550,919,000	1,575,362,000	1,330,450,000	1,489,709,000	1,540,643,000	1,281,415,000	1,101,348,000	1,382,254,000	1,549,135,000	1,211,999,000	1,167,101,000	1,527,468,000	1,570,859,000	1,389,020,000	1,205,581,000	1,267,898,000	1,195,281,000	926,508,000	1,019,386,000	1,347,566,000	1,234,831,000	920,677,000	712,888,000	789,917,000
commitments and contingencies
shareholders’ equity:
common shares, without par value	144,000	144,000	144,000	143,000	142,000	143,000	143,000	142,000	142,000	142,000	142,000	142,000	142,000	142,000	142,000	142,000	140,000	140,000	140,000	140,000	138,000	138,000	138,000	137,000	137,000	137,000	137,000	137,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000	96,000		96,000	96,000	96,000		96,000	96,000	96,000
preferred shares, without par value
additional paid-in capital	208,425,000				385,609,000				387,210,000																																															179,463,000				177,875,000
treasury shares, at cost	-14,080,000	-14,131,000			-2,860,000	-572,000	-631,000	-631,000	-10,261,000	-10,266,000	-10,270,000	-11,006,000	-15,043,000	-9,991,000	-2,313,000	-2,265,000	-263,000	-2,611,000	-2,650,000	-2,872,000	-966,000	-879,000	-953,000	-652,000	-7,342,000	-7,582,000	-6,449,000	-7,216,000	-35,300,000	-35,039,000	-35,561,000	-36,028,000	-40,312,000	-40,905,000	-40,945,000	-40,727,000	-45,383,000	-45,130,000	-44,970,000	-44,774,000	-52,902,000	-38,880,000	-32,551,000	-9,743,000	-8,762,000	-8,801,000	-8,750,000	-10,222,000				-12,559,000				-14,997,000				-14,058,000
accumulated other comprehensive income	11,337,000	10,717,000	14,334,000	8,857,000	12,585,000	15,376,000	21,181,000	23,411,000	22,865,000	28,579,000	25,482,000	16,267,000	20,484,000	15,850,000	15,090,000	13,555,000	1,194,000							-27,649,000			-6,241,000	2,474,000
retained earnings	1,038,953,000	978,717,000	965,277,000	964,114,000	970,710,000	932,215,000	911,455,000	881,911,000	882,943,000	838,556,000	835,256,000	786,420,000	807,770,000	806,186,000	775,495,000	701,799,000	702,759,000	679,154,000	669,241,000	631,652,000	626,081,000	615,890,000	622,718,000	599,039,000	642,687,000	641,607,000	651,481,000	627,136,000	647,517,000	628,676,000	635,438,000	618,572,000	633,496,000	568,438,000	570,406,000	601,560,000	609,206,000	603,556,000	606,177,000	596,115,000	615,151,000	671,655,000	644,530,000	644,556,000	622,722,000	609,024,000	567,849,000	548,401,000	520,848,000	506,691,000	480,156,000	470,628,000	458,627,000	444,539,000	418,136,000	402,523,000	383,606,000	374,715,000	331,540,000	316,317,000	292,515,000	292,780,000	269,270,000
total shareholders’ equity of the andersons, inc.	1,244,779,000	1,181,108,000	1,364,409,000	1,355,737,000	1,366,186,000	1,329,171,000	1,310,601,000	1,279,988,000	1,282,899,000	1,240,735,000	1,230,986,000	1,169,591,000	1,198,601,000	1,193,915,000	1,167,154,000	1,089,025,000	1,072,425,000	1,033,436,000	1,022,500,000	983,667,000	961,891,000	939,199,000	939,388,000	912,257,000	973,610,000	962,458,000	970,114,000	947,284,000	830,322,000	811,737,000	817,885,000	800,642,000	815,202,000	741,761,000	739,825,000	769,331,000	774,361,000	762,543,000	763,698,000	750,160,000	764,254,000	801,514,000	777,124,000	803,103,000	776,702,000	762,394,000	719,512,000	701,474,000	651,304,000	635,769,000	607,402,000	594,413,000	584,573,000	569,653,000	542,690,000	523,995,000	517,696,000	510,396,000	467,848,000	451,431,000	428,970,000	428,647,000	406,365,000
noncontrolling interests	45,456,000	41,909,000	246,101,000	238,697,000	233,650,000	193,837,000	209,661,000	195,662,000	233,488,000	208,351,000	207,496,000	176,821,000	231,168,000	232,626,000	250,052,000	228,196,000	235,279,000	202,577,000	202,464,000	198,884,000	198,769,000	198,028,000	192,695,000	201,605,000	222,045,000	48,892,000	50,525,000	51,002,000	46,442,000	30,906,000	29,105,000	22,115,000	7,697,000	8,050,000	7,967,000	8,031,000	16,336,000	17,624,000	19,405,000	18,559,000	19,485,000	20,401,000	20,794,000	20,946,000	24,875,000	28,886,000	23,817,000	22,947,000	18,988,000	18,111,000	16,918,000	17,032,000	17,847,000	19,540,000
total equity	1,290,235,000	1,223,017,000	1,610,510,000	1,594,434,000	1,599,836,000	1,523,008,000	1,520,262,000	1,475,650,000	1,516,387,000	1,449,086,000	1,438,482,000	1,346,412,000	1,429,769,000	1,426,541,000	1,417,206,000	1,317,221,000	1,307,704,000	1,236,013,000	1,224,964,000	1,182,551,000	1,160,660,000	1,137,227,000	1,132,083,000	1,113,862,000	1,195,655,000	1,011,350,000	1,020,639,000	998,286,000	876,764,000	842,643,000	846,990,000	822,757,000	822,899,000	749,811,000	747,792,000	777,362,000	790,697,000	780,167,000	783,103,000	768,719,000	783,739,000	821,915,000	797,918,000	824,049,000	801,577,000	791,280,000	743,329,000	724,421,000	670,292,000	653,880,000	624,320,000	611,445,000	602,420,000	589,193,000	556,858,000	538,842,000
total liabilities and equity	3,712,832,000	3,296,959,000	3,446,491,000	3,797,682,000	4,121,314,000	3,388,299,000	3,299,813,000	3,261,073,000	3,855,007,000	3,588,102,000	3,570,046,000	4,102,044,000	4,607,996,000	4,418,621,000	4,737,175,000	5,142,936,000	4,569,219,000	3,708,142,000	4,049,089,000	4,266,737,000	4,272,121,000	3,411,611,000	3,303,989,000	3,752,691,000	3,900,741,000	3,284,452,000	3,571,859,000	3,660,252,000	2,392,003,000	2,151,618,000	2,117,788,000	2,363,528,000	2,162,354,000	1,964,160,000	1,911,425,000	2,161,753,000	2,232,849,000	1,984,411,000	2,107,415,000	2,319,638,000	2,359,101,000	2,152,365,000	2,287,627,000	2,364,692,000	2,082,992,000	1,892,628,000	2,125,583,000	2,273,556,000	1,882,291,000	1,820,981,000	2,151,788,000	2,182,304,000	1,991,440,000	1,794,774,000	1,824,756,000	1,734,123,000
accounts receivable		715,761,000	783,892,000	812,482,000		756,618,000	743,550,000	701,706,000		816,686,000	1,030,271,000	1,125,071,000		990,531,000	1,141,167,000	1,050,259,000		735,349,000	721,575,000	699,725,000		529,584,000	537,011,000	539,671,000		523,110,000	712,294,000	611,290,000		206,380,000	218,476,000	216,021,000		196,192,000	186,331,000	190,628,000		173,593,000	212,588,000	207,740,000		238,601,000	209,928,000		162,270,000	189,646,000	191,972,000		178,970,000	216,432,000	197,842,000		199,158,000	205,046,000	204,400,000		158,757,000	240,254,000
additional paid-in-capital		205,661,000	384,654,000	382,623,000		382,009,000	378,453,000	375,155,000		383,724,000	380,376,000	377,768,000	385,248,000	381,728,000	378,740,000	375,794,000	368,595,000	360,159,000	357,606,000	355,961,000	348,714,000	346,280,000	343,730,000	341,382,000	345,359,000	335,916,000	331,186,000	324,753,000	224,396,000	222,368,000	223,259,000	221,990,000	224,622,000	223,814,000	222,261,000	220,366,000	222,910,000	221,326,000	219,489,000	217,050,000	222,848,000	223,802,000	223,179,000	222,789,000	190,617,000	189,098,000	184,474,000	184,380,000	183,273,000	182,455,000	181,845,000	181,627,000	180,998,000	180,535,000	179,783,000		178,173,000	177,266,000	176,848,000		177,298,000	176,736,000	176,122,000
deferred income taxes					55,005,000			59,149,000	58,581,000	58,217,000	57,030,000	54,391,000	64,080,000	59,079,000	63,383,000	68,437,000	71,127,000	79,636,000	173,212,000	173,481,000	170,147,000	163,454,000	162,475,000	156,804,000	146,155,000	128,003,000	146,839,000	138,598,000	130,087,000	122,523,000	118,864,000	118,933,000	121,730,000	181,876,000	181,806,000	181,541,000					6,772,000	6,069,000	12,878,000	7,337,000	148,000	7,443,000	9,104,000	4,931,000	5,254,000	2,797,000	15,482,000	15,862,000	20,627,000	18,784,000	23,062,000	21,483,000	17,233,000	17,710,000	18,578,000	16,813,000	13,385,000	11,572,000	14,205,000
other asset							356,378,000
current assets held-for-sale													2,871,000		18,627,000	20,255,000	20,885,000	26,561,000
other assets held-for-sale															24,298,000	45,264,000	43,169,000	38,863,000
current liabilities held-for-sale															7,314,000	10,200,000	13,379,000	13,427,000
other long-term liabilities held-for-sale															3,113,000	14,738,000	16,119,000	13,592,000
accrued taxes														23,439,000				97,215,000
accumulated other comprehensive loss																		-3,406,000	-1,837,000	-1,214,000	-12,076,000	-22,230,000	-26,245,000		-7,231,000	-7,620,000			-6,387,000	-4,364,000	-5,347,000	-3,988,000	-2,700,000	-9,682,000	-11,993,000	-11,964,000	-12,468,000	-17,305,000	-17,094,000	-18,327,000	-20,939,000	-55,159,000	-58,130,000	-54,595,000	-27,971,000	-27,023,000	-24,157,000	-21,181,000	-41,586,000	-42,025,000	-43,277,000	-45,379,000	-42,607,000	-42,998,000	-42,625,000	-43,090,000	-29,365,000	-29,467,000	-28,518,000	-28,799,000	-26,798,000	-26,807,000	-24,955,000
rail assets leased to others																			574,585,000	580,599,000	591,946,000
cash, cash equivalents and restricted cash																					29,123,000	13,693,000	30,011,000	19,693,000	54,895,000	21,299,000
equity method investments																						25,368,000	25,083,000	22,910,000	23,857,000	117,348,000	120,929,000	121,781,000	242,326,000	240,350,000	232,159,000	224,449,000	223,239,000	215,031,000	215,794,000	208,993,000	216,931,000	225,114,000	238,478,000	236,083,000	242,107,000	224,380,000	222,082,000	226,857,000	257,166,000	264,381,000	232,396,000	291,109,000	262,643,000	195,241,000	190,377,000	190,908,000	190,057,000	189,610,000	190,460,000	199,061,000	189,118,000	179,888,000	173,977,000	175,349,000	165,421,000	168,098,000
rail group assets leased to others																						587,851,000	592,821,000	597,069,000	584,298,000	565,746,000	559,711,000	537,629,000	521,785,000	464,776,000	458,424,000	462,253,000	423,443,000	377,393,000	375,092,000	342,936,000	327,195,000	334,401,000	340,136,000	337,661,000	338,111,000	330,832,000	313,095,000	297,747,000
the andersons, inc.condensed consolidated balance sheets
commodity derivative assets – noncurrent																									949,000	1,943,000	6,161,000	3,757,000	480,000	766,000	1,008,000	1,739,000	310,000	245,000	1,191,000	339,000	100,000	1,346,000	1,934,000	371,000	412,000	2,990,000	243,000	507,000	2,383,000	312,000	1,365,000	246,000	5,000	87,000	813,000	1,906,000	7,047,000	4,844,000	1,189,000	2,289,000	3,907,000						158,000
the andersons, inc.consolidated balance sheets
commodity derivative liabilities – noncurrent																									505,000	1,960,000	3,985,000	3,821,000	889,000	2,548,000	3,202,000	1,414,000	825,000	902,000	334,000	450,000	339,000	1,954,000	2,182,000	874,000	1,063,000	2,177,000	2,084,000	3,318,000	26,203,000	7,444,000	734,000	6,644,000	9,636,000	5,863,000	3,220,000	1,134,000	590,000	454,000	2,352,000	1,519,000	6,903,000						3,190,000
employee benefit plan obligations																									25,359,000	21,311,000	22,019,000	21,471,000	22,542,000	25,356,000	26,131,000	26,310,000	26,716,000	36,356,000	36,837,000	34,832,000	35,026,000	45,260,000	44,902,000	46,151,000	45,805,000	57,686,000	59,557,000	59,308,000	39,606,000	39,178,000	39,989,000	39,477,000	49,768,000	50,754,000	52,927,000	53,131,000	49,478,000	50,437,000	53,080,000	52,972,000	30,132,000	30,835,000	29,946,000	30,152,000	27,003,000	28,711,000	25,234,000
assets held for sale																										573,000	151,000	364,000	392,000	29,527,000	9,816,000	57,775,000	37,859,000	8,383,000	10,028,000
other assets: - sum																											547,694,000	564,209,000	370,309,000	374,044,000	371,368,000	369,633,000	355,023,000	363,604,000	362,268,000	384,431,000		406,470,000		423,214,000	436,208,000	452,971,000	349,144,000	358,891,000	386,428,000	394,701,000	363,368,000	423,693,000	373,379,000	299,109,000	295,725,000	297,943,000
restricted cash																																			1,033,000	752,000	471,000	190,000	987,000	718,000	451,000	941,000	685,000	429,000	173,000	895,000	652,000	408,000	164,000	872,000	635,000	398,000	160,000	5,644,000	18,785,000	18,651,000	11,920,000	12,572,000	12,353,000	12,134,000	2,915,000	3,548,000	3,336,000
pension asset																																													13,738,000	13,023,000
accounts payable for grain																																											206,153,000	535,974,000	222,178,000	164,230,000	183,998,000	592,183,000	241,575,000	178,017,000	183,997,000	584,171,000	250,066,000	129,979,000	115,236,000	391,905,000	77,813,000	80,374,000	90,442,000	274,596,000	131,138,000	76,922,000	85,157,000
other accounts payable																																											164,224,000	170,849,000	165,133,000	143,535,000	177,623,000	154,599,000	200,664,000	183,971,000	182,013,000	169,867,000	204,347,000	148,497,000	173,254,000	142,762,000	137,872,000	164,325,000	145,685,000	111,501,000	164,475,000	115,023,000	105,170,000
railcar assets leased to others																																													245,849,000	242,147,000	237,534,000	240,621,000	233,024,000	242,887,000	244,706,000	228,330,000	252,702,000	252,965,000	215,023,000	197,137,000	183,346,000	178,141,000	169,189,000	168,483,000	169,694,000	169,331,000	175,219,000
borrowings under short-term line of credit																																														27,000,000	226,100,000			50,000,000	292,100,000	24,219,000	275,522,000	309,608,000	365,000,000	71,500,000	105,000,000	194,200,000	460,000,000	241,100,000
pension assets																																															15,079,000	14,328,000
treasury shares at cost																																																	-11,327,000	-11,448,000	-11,418,000		-12,541,000
treasury shares																																																						-12,519,000	-12,700,000		-14,814,000	-12,214,000	-12,118,000		-14,141,000	-14,158,000	-14,168,000
noncontrolling interest																																																							14,168,000	14,847,000	14,373,000	14,067,000	13,250,000	13,128,000	12,884,000	13,910,000	13,300,000
common shares, without par value, 42,000 shares authorized; 19,198 shares issued																																																								96,000				96,000
preferred shares, without par value, 1,000 shares authorized; none issued
liabilities and shareholders’ equity
total shareholders’ equity																																																									532,069,000	524,463,000	481,098,000	464,559,000	441,854,000	442,557,000	419,665,000
total liabilities and shareholders’ equity																																																									1,458,577,000	1,543,849,000	1,828,664,000	1,699,390,000
commodity derivative assets — current																																																										187,438,000	178,767,000	226,216,000	118,488,000	14,150,000
commodity derivative assets — noncurrent																																																										8,560,000	12,996,000	18,113,000	9,851,000	389,000
commodity derivative liabilities — current																																																										24,289,000	67,869,000	57,621,000	47,968,000	54,918,000
commodity derivative liabilities — noncurrent																																																										1,850,000	110,000	3,279,000	1,936,000	2,911,000
accounts and notes receivable																																																											220,665,000	152,227,000	143,591,000	132,701,000	142,617,000
other assets and notes receivable																																																											47,819,000		39,942,000	41,192,000	25,826,000
margin deposits																																																												20,259,000	58,612,000	7,384,000	32,255,000
other assets and notes receivable, less allowance for doubtful notes receivable of 254 in 2010; 7,950 in 2009																																																												47,855,000
inventories:
grain																																																													312,919,000	129,909,000	195,002,000
agricultural fertilizer and supplies																																																													68,580,000	57,975,000	122,951,000
lawn and garden fertilizer and corncob products																																																													21,527,000	20,600,000	26,613,000
retail merchandise																																																													26,901,000	25,899,000	27,309,000
other																																																													2,521,000	3,611,000	3,018,000
property, plant and equipment:
land																																																													15,427,000	15,301,000	15,191,000
land improvements and leasehold improvements																																																													44,230,000	43,701,000	42,781,000
buildings and storage facilities																																																													137,652,000	133,445,000	130,696,000
machinery and equipment																																																													173,890,000	171,921,000	164,600,000
software																																																													10,224,000	10,115,000	10,201,000
construction in progress																																																													7,224,000	7,871,000	3,432,000
less allowances for depreciation and amortization																																																													-241,463,000	-238,189,000	-234,240,000
short-term line of credit																																																													101,400,000
the andersons, inc. shareholders’ equity:
total liabilities, and shareholders’ equity																																																													1,362,531,000	1,155,445,000	1,209,582,000
prepaid expenses and other current assets																																																															40,844,000
investments in and advances to affiliates																																																															167,167,000
short-term borrowings
current maturities of long-term debt – non-recourse																																																															7,890,000
deferred income and other long-term liabilities																																																															15,650,000
long-term debt – non-recourse, less current maturities																																																															15,316,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31

operating activities
net income	71,092,000	26,071,000	16,807,000	5,331,000	54,104,000	51,461,000	52,470,000	12,665,000	78,437,000	30,523,000	82,686,000	-59,117,000	15,096,000	44,273,000	101,660,000	5,950,000	62,344,000	14,136,000	46,124,000	13,262,000	14,649,000	2,214,000			5,667,000	-5,870,000	29,411,000	-14,148,000	23,668,000	-1,874,000	21,413,000	-1,982,000	69,744,000	2,617,000	-26,717,000	-3,035,000	11,310,000	3,341,000	15,441,000	-15,622,000	-46,716,000	-950,000	32,399,000	3,945,000	27,967,000	19,279,000	49,370,000	26,029,000	34,619,000	18,039,000	30,732,000	12,312,000	14,175,000	15,191,000	28,471,000	17,728,000	22,171,000	11,231,000	46,035,000	17,388,000	26,078,000	368,000	25,779,000	12,656,000
adjustments to reconcile net income to cash from operating activities:
depreciation and amortization	33,265,000	32,647,000	33,071,000	34,340,000	36,178,000	30,408,000	30,269,000	30,949,000	31,306,000	31,215,000	30,365,000	32,220,000	33,476,000	33,321,000	33,568,000	34,377,000	36,797,000	46,983,000	47,650,000	47,504,000	47,471,000	47,269,000	47,000,000	46,898,000	47,770,000	34,250,000	30,386,000	33,760,000	22,337,000	22,728,000	22,553,000	22,679,000	21,866,000	21,668,000	21,875,000	21,003,000	22,081,000	20,865,000	20,477,000	20,902,000	21,091,000	20,769,000	19,073,000	17,523,000	17,698,000	15,873,000	14,578,000	13,856,000	13,672,000	13,451,000	13,383,000	14,801,000	13,647,000	12,830,000	12,005,000	10,495,000	10,749,000	10,137,000	10,067,000	9,884,000	10,984,000	9,116,000	9,063,000	9,750,000
bad debt expense													973,000	1,959,000	1,814,000	1,255,000					-1,007,000	1,759,000	1,980,000	4,310,000	392,000	1,912,000	1,385,000	318,000	978,000	401,000	-306,000	-531,000	1,924,000	237,000	210,000	629,000	402,000	298,000	67,000	424,000	2,500,000	318,000	296,000	188,000	985,000	-112,000	-67,000	377,000	487,000	90,000	341,000	269,000	11,000	625,000	-141,000	634,000	-3,145,000	630,000	265,000	2,437,000		152,000	26,000	-596,000
stock-based compensation expense											3,404,000	2,596,000	3,495,000	2,989,000	2,890,000	1,818,000	4,311,000	2,615,000	2,122,000	1,990,000		2,726,000	2,136,000	2,880,000		4,345,000	2,493,000	4,799,000		1,892,000	1,738,000	1,268,000		1,615,000	1,715,000	1,220,000		1,846,000	2,223,000	1,473,000		610,000	1,252,000	736,000		1,489,000	4,591,000	1,462,000
deferred income taxes																																			0	-628,000	6,076,000	1,555,000	-613,000	-988,000	8,358,000	8,185,000	14,182,000	-3,446,000	12,374,000	2,239,000	938,000	6,264,000	16,189,000	1,660,000	21,720,000	805,000	9,610,000	2,494,000	7,256,000	-2,857,000	3,811,000	-2,781,000	5,297,000	-854,000	8,660,000	746,000	1,872,000	927,000
asset impairment									0	0	0	87,156,000													38,131,000	0			0	0
other	-28,273,000	9,743,000	-6,992,000	17,303,000	-18,741,000	4,325,000	6,026,000	4,795,000	-12,045,000	3,077,000	-4,955,000	3,225,000	5,495,000	1,506,000	5,664,000	2,885,000	141,000	4,034,000	871,000	2,100,000	5,931,000	1,344,000	-1,204,000	4,001,000	-97,000	2,535,000	-3,283,000	4,385,000	1,175,000	-2,488,000	-68,000	-70,000	555,000	1,729,000	-2,245,000	-94,000	-1,981,000	-336,000	254,000	-20,000	-1,201,000	228,000	-57,000	890,000	150,000	1,922,000	136,000	-2,504,000	495,000	-711,000	667,000	47,000	-566,000	-168,000	-88,000	150,000	255,000	-15,000	35,000	-21,000	100,000	11,000	91,000	13,000
changes in operating assets and liabilities, net of assets acquired and liabilities assumed:
accounts and notes receivable																																																						4,755,000	-1,062,000	-35,215,000				-70,469,000	4,532,000	-10,676,000	8,771,000	-3,475,000
inventories	-464,183,000	-129,572,000	482,825,000	38,531,000	-191,041,000	-198,776,000	308,640,000	169,083,000	-175,883,000	13,263,000	556,845,000	178,010,000	-179,995,000	50,169,000	323,505,000	-136,820,000	-794,938,000	-123,641,000	385,499,000	5,007,000	-539,761,000	-136,689,000	414,628,000	122,323,000	-407,198,000	10,990,000	269,889,000	124,741,000	-200,435,000	5,280,000	236,357,000	-85,262,000	-184,526,000	-12,397,000	179,608,000	33,456,000	-254,993,000	58,790,000	180,421,000	43,947,000	-219,610,000	-19,381,000	260,643,000	51,698,000	-390,500,000	36,533,000	292,588,000	-110,661,000	-185,729,000	16,576,000	308,297,000	23,299,000	31,393,000	-85,731,000	201,859,000	-25,093,000	-303,076,000	11,292,000	305,185,000	-127,828,000	-192,352,000	-195,051,000	140,281,000	32,951,000
commodity derivatives	3,459,000	-17,316,000	18,781,000	1,076,000	-34,322,000	13,317,000	64,508,000	-28,498,000	12,027,000	-3,274,000	19,605,000	83,148,000	170,300,000	84,189,000	88,671,000	-277,761,000	51,553,000	91,950,000	-197,396,000	-53,295,000	-112,596,000	-17,554,000	13,749,000	1,231,000	-8,228,000	112,875,000	-73,784,000	-9,149,000	-34,690,000	-16,770,000	80,625,000	-45,775,000	4,212,000	-11,597,000	23,653,000	4,017,000	-22,582,000	73,035,000	-44,813,000	-15,630,000	-2,062,000	-11,675,000	31,531,000	-3,696,000	-155,307,000	195,851,000	18,646,000	-86,842,000	6,559,000	50,304,000	47,685,000	-34,915,000	63,233,000	-32,496,000	-98,067,000	70,277,000	15,815,000	85,200,000	-46,609,000	79,903,000
other current and non-current assets	21,646,000	14,816,000	-23,172,000	-8,558,000	31,326,000	-8,789,000	-52,510,000	1,923,000	4,481,000	3,295,000	16,296,000	-17,543,000	8,936,000	-3,106,000	43,916,000	-38,810,000
payables and other current and non-current liabilities	261,319,000	231,247,000	-251,871,000	-384,775,000	330,673,000	117,728,000	-62,528,000	-488,269,000	232,498,000	214,870,000	-250,794,000	-760,292,000	601,512,000	238,184,000	-163,307,000	-446,096,000
net cash from operating activities	-6,185,000	233,882,000	299,321,000	-350,020,000	268,811,000	-2,112,000	304,434,000	-239,627,000	250,663,000	488,683,000	540,939,000	-333,535,000	440,487,000	568,429,000	353,199,000	-1,074,998,000	-170,117,000	364,561,000	200,233,000	-445,727,000	-270,223,000	50,280,000	373,941,000	-228,430,000	28,937,000	404,472,000	37,198,000	-122,045,000	-64,349,000	72,759,000	334,778,000	-378,707,000	14,551,000	105,963,000	184,006,000	-229,235,000	-1,761,000	235,707,000	73,492,000	-267,853,000	96,361,000	117,171,000	227,261,000	-286,659,000	-112,345,000	361,859,000	239,028,000	-498,613,000	208,227,000	188,630,000	276,314,000	-335,983,000	367,209,000	95,363,000	52,917,000	-187,007,000	68,250,000	158,776,000	284,993,000	-221,754,000	-92,646,000	-251,831,000	168,710,000	-63,518,000
capital expenditures	-70,913,000	-66,834,000	-48,828,000	-46,548,000	-55,957,000	-37,841,000	-28,614,000	-26,775,000	-41,725,000	-33,727,000	-49,521,000	-25,470,000	-36,037,000	-28,775,000	-22,750,000	-20,722,000	-23,036,000	-18,466,000	-17,345,000	-16,919,000	-17,733,000	-14,770,000	-25,337,000	-19,307,000	-39,872,000	-38,142,000	-42,481,000	-44,728,000	-55,885,000	-32,394,000	-24,886,000	-29,414,000	-7,897,000	-10,729,000	-10,368,000	-5,608,000	-21,602,000	-21,695,000	-22,138,000	-12,305,000	-30,082,000	-14,173,000	-21,472,000	-6,742,000	-20,051,000	-18,991,000	-15,110,000	-5,523,000	-15,431,000	-12,806,000	-12,355,000	-6,194,000	-17,592,000	-13,511,000	-23,157,000	-15,014,000	-14,556,000	-17,034,000	-8,410,000	-4,162,000	-7,499,000	-8,153,000	-10,386,000	-4,859,000
free cash flows	-77,098,000	167,048,000	250,493,000	-396,568,000	212,854,000	-39,953,000	275,820,000	-266,402,000	208,938,000	454,956,000	491,418,000	-359,005,000	404,450,000	539,654,000	330,449,000	-1,095,720,000	-193,153,000	346,095,000	182,888,000	-462,646,000	-287,956,000	35,510,000	348,604,000	-247,737,000	-10,935,000	366,330,000	-5,283,000	-166,773,000	-120,234,000	40,365,000	309,892,000	-408,121,000	6,654,000	95,234,000	173,638,000	-234,843,000	-23,363,000	214,012,000	51,354,000	-280,158,000	66,279,000	102,998,000	205,789,000	-293,401,000	-132,396,000	342,868,000	223,918,000	-504,136,000	192,796,000	175,824,000	263,959,000	-342,177,000	349,617,000	81,852,000	29,760,000	-202,021,000	53,694,000	141,742,000	276,583,000	-225,916,000	-100,145,000	-259,984,000	158,324,000	-68,377,000
investing activities
purchases of property, plant and equipment and capitalized software	-70,913,000	-66,834,000	-48,828,000	-46,548,000	-55,957,000	-37,841,000	-28,614,000	-26,775,000	-41,725,000	-33,727,000	-49,521,000	-25,470,000	-36,037,000	-28,775,000	-22,750,000	-20,722,000	-23,036,000	-18,466,000	-17,345,000	-16,919,000	-17,733,000	-14,770,000	-25,337,000	-19,307,000	-39,872,000	-38,142,000	-42,481,000	-44,728,000	-55,885,000	-32,394,000	-24,886,000	-29,414,000	-7,897,000	-10,729,000	-10,368,000	-5,608,000
property insurance proceeds
proceeds from sale of businesses
acquisition of businesses, net of cash acquired					-19,611,000	0			-313,000																																								-4,104,000	-7,803,000	0	-3,345,000	-127,571,000
net cash from investing activities	-68,015,000	-51,593,000	-31,876,000	-43,831,000	-72,482,000	-32,454,000	-36,086,000	-22,052,000	-36,616,000	-45,590,000	-51,866,000	-19,807,000	-55,821,000	33,013,000	-5,173,000	-24,921,000	-32,275,000	542,997,000	-7,744,000	-15,730,000	-16,597,000	-4,157,000	-35,586,000	-30,416,000	9,839,000	-63,478,000	-65,557,000	-205,836,000	-70,110,000	-69,444,000	-2,090,000	-44,349,000	-48,618,000	-719,000	-50,910,000	-13,247,000	-33,015,000	-10,108,000	14,655,000	250,000	-26,045,000	-34,298,000	-160,615,000	-17,522,000	-77,180,000	-21,831,000	-27,985,000	37,258,000	-31,159,000	-49,215,000	-8,082,000	-17,805,000	-119,961,000	1,824,000	-99,290,000	-73,130,000	-38,738,000	-19,888,000	-21,399,000	-5,972,000			-24,813,000	-7,398,000
financing activities
net (payments) receipts under short-term lines of credit								-31,913,000
payments of long-term debt	-9,689,000	-9,874,000	-8,229,000	-8,416,000	-62,940,000	-6,897,000	-6,882,000	-6,870,000	-6,886,000	-6,873,000	-5,610,000	-30,251,000	-7,460,000	-7,508,000	-7,511,000	-7,566,000	-45,206,000	-307,941,000	-51,702,000	-125,884,000	-249,017,000	-106,859,000	-98,922,000	-104,913,000	-114,597,000	-103,358,000	-29,461,000	-361,067,000	-8,095,000	-2,845,000	-3,635,000	-106,515,000	-2,863,000	-11,477,000	-4,997,000	-37,852,000	-6,213,000	-6,216,000	-4,778,000	-80,399,000	-5,442,000	-5,018,000	-18,548,000	-63,466,000	-5,255,000	-25,436,000	-8,446,000	-30,560,000	-14,279,000	-45,765,000	-16,820,000	-17,888,000	-85,123,000	-28,145,000	-3,406,000	-27,269,000	-37,845,000	-26,500,000	-21,358,000	-18,305,000
purchase of noncontrolling interest in a subsidiary
distributions to noncontrolling interest owner	-111,000	-32,110,000			-14,970,000	-39,920,000	-2,495,000	-44,910,000	-2,114,000	-19,960,000	-14,364,000	-9,980,000	-9,980,000	-24,950,000	0	-9,980,000	0	0			0	-24,000	0	-10,298,000													-2,453,000				-753,000
dividends paid	-6,954,000	-6,527,000	-6,674,000	-6,693,000	-6,807,000	-6,473,000	-6,477,000	-6,516,000	-6,602,000	-6,244,000	-6,248,000	-6,279,000	-6,347,000	-6,017,000	-6,101,000	-6,144,000	-6,243,000	-5,826,000	-5,838,000	-5,839,000	-5,770,000	-5,765,000	-5,746,000	-5,723,000	-5,547,000	-5,530,000	-5,526,000	-5,515,000	-4,663,000	-4,664,000	-4,662,000	-4,650,000	-4,667,000	-4,501,000	-4,501,000	-4,483,000	-4,342,000	-4,341,000	-4,341,000	-4,338,000	-3,910,000	-3,967,000	-3,985,000	-4,059,000	-3,126,000	-3,126,000	-3,126,000	-3,107,000	-3,005,000	-2,996,000	-2,996,000	-2,989,000	-2,796,000	-2,796,000	-2,794,000	-2,780,000	-2,035,000	-2,043,000	-2,042,000	-2,033,000	-1,659,000	-1,659,000	-1,658,000	-1,605,000
common stock repurchased	0								0	0	-76,000	-1,671,000	-5,952,000
proceeds from issuance of long-term debt	0	0	0	14,700,000					0	0							16,200,000	78,500,000	18,600,000	89,700,000	258,000,000	47,931,000	75,239,000	90,736,000	110,896,000	63,599,000	54,338,000	693,761,000	75,000,000	7,000,000	0	50,000,000	50,000,000	20,000,000	0	15,175,000	3,561,000	635,000	656,000	76,908,000	28,971,000	1,188,000	120,809,000	30,799,000	1,618,000	-4,925,000	3,114,000	3,598,000	14,209,000	17,403,000	11,137,000	25,254,000	150,270,000	18,198,000	99,943,000	6,935,000	28,039,000	1,322,000	21,434,000	22,957,000
net cash from financing activities	90,829,000	-450,969,000	-137,453,000	50,445,000	-87,764,000	-42,669,000	-21,646,000	-98,280,000	11,853,000	-120,859,000	-463,804,000	308,817,000	-410,219,000	-546,624,000	-297,644,000	919,757,000	201,878,000	-718,197,000	-200,212,000	467,762,000	302,723,000	-61,359,000	-328,645,000	223,577,000	-3,550,000	-332,153,000	8,360,000	336,050,000	140,232,000	-45,106,000	-305,574,000	419,634,000	44,508,000	-99,700,000	-143,807,000	209,497,000	19,248,000	-178,824,000	-103,065,000	250,154,000	-47,224,000	-82,988,000	-80,334,000	243,938,000	-22,717,000	-60,272,000	-207,546,000	195,963,000	-2,424,000	-80,894,000	-250,596,000	273,854,000	-189,400,000	-40,747,000	38,429,000	271,621,000	-47,632,000	-118,994,000	-267,298,000	220,827,000	144,742,000	81,431,000	-14,039,000	-554,000
effect of exchange rates on cash and cash equivalents	24,000	-660,000	1,759,000	854,000	-859,000	914,000	-218,000	7,000	-101,000	-472,000	171,000	109,000	51,000	-82,000	-728,000	99,000		-25,000	-132,000	-35,000							1,095,000	-771,000
increase in cash and cash equivalents					107,706,000				225,799,000				-25,502,000			-180,063,000				6,270,000							-18,904,000	7,398,000					10,441,000				-15,528,000				23,092,000				-212,242,000				174,644,000	58,521,000			57,848,000	56,440,000	-7,944,000	11,484,000	-18,120,000	19,894,000
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
changes in operating assets and liabilities:
accounts receivable		66,246,000	29,872,000	-53,268,000		-11,786,000	-42,441,000	57,725,000		198,396,000	82,754,000	125,113,000		148,330,000	-74,184,000	-215,012,000	-94,100,000	-31,564,000	-24,862,000	-33,476,000	-126,550,000	7,229,000	2,556,000	-11,737,000	-3,392,000	186,796,000	-102,622,000	-79,295,000	-3,935,000	13,006,000	-3,129,000	-30,730,000	10,115,000	-13,420,000	5,523,000	7,563,000	-21,004,000	38,225,000	-6,176,000	-37,474,000	51,061,000	36,206,000	-13,843,000	-28,366,000	-11,864,000	27,291,000	2,260,000	-19,390,000	5,978,000	36,985,000	-19,332,000	11,815,000					-7,047,000	81,966,000
insurance proceeds		12,198,000
net payments under short-term lines of credit		37,166,000				10,651,000
purchase of noncontrolling interest in a consolidated subsidiary
value of shares withheld for taxes		-80,000	-94,000	-3,837,000	-4,000	-30,000	0	-8,071,000		-11,000	0	-6,616,000
decrease in cash and cash equivalents		-269,340,000	131,751,000	-342,552,000			246,484,000	-359,952,000			25,440,000	-44,416,000																		-41,791,000	27,114,000	-3,422,000			-10,711,000	-32,985,000			-14,918,000	-17,449,000			-13,688,000	-60,243,000			3,497,000	-265,392,000				-79,934,000								-6,899,000				-71,470,000
cash and cash equivalents at beginning of period		0	0	561,771,000		0	0	643,854,000		0	0	115,269,000		0	0	216,444,000		0	0	29,123,000							0	22,593,000		0	0	34,919,000		0	0	62,630,000		0	0	63,750,000		0	0	114,704,000		0	0	309,085,000		0	0	138,218,000		0	0	20,390,000		0	0	29,219,000		0	0	145,929,000
cash and cash equivalents at end of period		-269,340,000	131,751,000	219,219,000		-76,321,000	246,484,000	283,902,000		321,762,000	25,440,000	70,853,000		54,736,000	49,654,000	36,381,000		189,336,000	-7,855,000	35,393,000							-18,904,000	29,991,000		-41,791,000	27,114,000	31,497,000		5,544,000	-10,711,000	29,645,000		46,775,000	-14,918,000	46,301,000		-115,000	-13,688,000	54,461,000		279,756,000	3,497,000	43,693,000		58,521,000	17,636,000	58,284,000		56,440,000	-7,944,000	31,874,000		19,894,000	-3,704,000	22,320,000		-178,585,000	129,858,000	74,459,000
net proceeds under short-term lines of credit				56,044,000
net income from continuing operations									78,437,000	30,523,000	82,686,000	-59,117,000	21,170,000	24,880,000	102,400,000	6,504,000	65,473,000
income from discontinued operations, net of income taxes													-6,074,000	19,393,000	-740,000	-554,000	-3,129,000
deferred federal income tax											103,000	-8,051,000	810,000	-7,064,000	-6,808,000	-6,947,000	-10,893,000	-93,895,000	172,000	-2,000		156,000	5,287,000	16,474,000		-17,464,000	11,433,000	-5,640,000
gain on sale of business from discontinued operations
damaged inventory
proceeds from sale of business
proceeds from sale of rail assets									0	0	0	2,871,000	0	365,000	36,093,000	248,000	445,000	3,089,000	10,233,000	5,383,000
proceeds from sale of business from discontinued operations													0				0
purchases of rail assets													-3,994,000	-188,000	-24,090,000	-3,186,000	0	-1,288,000	-2,140,000	-2,611,000
payments of debt issuance costs										-2,000	-762,000	-5,000	-306,000	0	-492,000	-7,310,000	-633,000	0	-834,000	-1,225,000	-648,000	0	0	-250,000	-912,000	139,000	0	-5,788,000	0	-659,000	0	-787,000	0	0	-1,991,000	-33,000	-14,000	0	-10,000	-299,000	-25,000	0	-164,000	-107,000	0	0	0	-3,175,000	0	0	0	-46,000	-527,000	-38,000	-63,000	-9,000		0	0	-815,000		-908,000	0	-151,000
proceeds from issuance of short-term debt													0	0	0	350,000,000	0	0
payments of short-term debt													0	0	-350,000,000	-200,000,000	0
proceeds from sale of a business
gain on sale of business from continuing operations																	0
loss on sale of business from discontinued operations													0				0
proceeds from sale of assets									424,000	1,890,000			497,000	138,000	4,600,000	72,000	509,000	205,000	3,409,000	385,000		6,618,000	1,467,000	36,000		56,000	395,000	400,000		7,326,000	34,975,000	6,000	7,278,000
purchase of investments																			-1,901,000	-2,800,000	-210,000	0	-2,569,000	-280,000	0	-250,000	-1,000,000	-240,000	10,000,000				-750,000	-2,500,000	-612,000	-1,817,000	0	0															0	0
proceeds from sale of business from continuing operations									0				0				0
net receipts (payments) under short-term lines of credit										-87,768,000				-501,380,000
contributions from noncontrolling interest owner													2,450,000	0	0	2,450,000	0	1,715,000	980,000	1,960,000
proceeds from exercises of stock options													0	0	0	5,024,000
loss from discontinued operations, net of income taxes
equity in losses of affiliates, net of dividends													74,000	-681,000	6,034,000	244,000					-410,000				4,777,000	3,928,000	431,000	-1,465,000	-4,777,000	-7,198,000	-8,832,000	-2,360,000	-8,326,000	1,625,000	-5,724,000	1,931,000		5,623,000
losses on sales of assets
purchases of investments														0	-772,000	-1,333,000
net receipts under short-term lines of credit												363,619,000				796,209,000
gain on sales of assets													1,706,000	1,451,000	-10,224,000	-81,000	321,000
inventory write down																	0	800,000	120,000	2,479,000		11,000	351,000	10,571,000
gain from remeasurement of equity method investments
effect of exchange rates on cash, cash equivalents and restricted cash																					-473,000	-1,082,000	608,000	67,000	-1,630,000
increase in cash, cash equivalents and restricted cash																								-35,202,000	33,596,000
cash, cash equivalents and restricted cash at beginning of year
cash, cash equivalents and restricted cash at end of year
bad debt (recovery) expense																		-1,026,000	530,000	-1,686,000
equity in earnings of affiliates, net of dividends																		250,000	-845,000	-1,794,000			-80,000	-129,000																7,033,000	3,191,000
other assets																		-38,925,000	18,828,000	16,740,000	-18,865,000	-9,559,000	-13,897,000	-10,887,000	11,715,000	-8,638,000	16,083,000	11,337,000	3,163,000	-17,425,000	16,418,000	1,134,000	-16,045,000	-207,000	20,004,000	-9,375,000	-17,129,000	924,000	34,086,000	1,526,000	-24,850,000	-18,638,000	21,215,000	-4,042,000	-23,162,000	-10,645,000	24,130,000	-1,730,000	-4,663,000	-7,280,000	16,551,000	-9,534,000	-8,716,000	-5,835,000	1,483,000	141,000	8,716,000	-18,610,000	19,899,000	-11,109,000
payables and other accrued expenses																		506,224,000	-74,962,000	-441,921,000	452,911,000	152,202,000	-119,015,000	-362,609,000	363,008,000	79,035,000	-147,106,000	-191,095,000		80,968,000	-35,935,000	-235,075,000		122,865,000	-74,521,000	-277,612,000
net payments under lines of credit
gain on sales of rail assets and related leases																			-2,352,000	-2,635,000
loss on sales of assets																					825,000	-1,203,000			-7,164,000	-5,000
net borrowings (payments) under lines of credit
net change in short-term borrowings																				510,160,000	299,154,000	3,381,000	-299,276,000	251,712,000	7,638,000	-285,802,000	-10,602,000	9,942,000	73,000,000	-53,000,000	-304,000,000	467,000,000	3,000,000	-105,000,000	-132,059,000	226,000,000	29,000,000	-179,000,000	-94,000,000	258,000,000	-64,700,000	-58,300,000	-170,500,000	308,500,000			-199,100,000	226,100,000	0	-50,000,000	-242,100,000	267,881,000	-251,303,000	-34,086,000	-55,392,000	293,500,000	-33,500,000	-89,200,000
gains on sales of rail assets and related leases
stock based compensation expense																																																	2,002,000	902,000	667,000	768,000	687,000	428,000	1,084,000	1,791,000	1,313,000	895,000	1,072,000	791,000	644,000	580,000	597,000	768,000
deferred income tax
inventory write-down
proceeds from sale of assets and businesses
proceeds from noncontrolling interest owner																									0	-1,000	0	4,715,000		9,309,000	7,106,000	14,700,000
acquisition of noncontrolling interest
loss on sales of rail group assets and related leases
acquisition of business, net of cash acquired																										-1,929,000	-350,000	-147,343,000						0								-264,000														-15,286,000
purchases of rail group assets																						-1,609,000	-11,379,000	-13,270,000	-36,813,000	-25,006,000	-27,562,000	-15,873,000	-58,951,000	-39,967,000	-38,571,000	-29,516,000	-65,507,000	-11,007,000	-41,432,000	-25,074,000	-27,289,000	-30,475,000	-20,164,000	-7,340,000	-2,686,000	-58,590,000	-30,301,000	-23,455,000
proceeds from sale of rail group assets																						3,137,000	2,232,000	2,405,000	8,908,000	1,793,000	5,441,000	1,948,000	31,795,000	6,677,000	26,392,000	14,575,000	18,528,000	8,978,000	3,769,000	5,621,000	12,628,000	33,664,000	5,430,000	4,967,000	11,647,000	38,623,000	13,504,000	12,851,000
decrease in cash, cash equivalents and restricted cash																						-16,318,000
cash, cash equivalents and restricted cash at beginning of period																						0	0	54,895,000
cash, cash equivalents and restricted cash at end of period																						-16,318,000	10,318,000	19,693,000
gains on sales of rail group assets and related leases																							76,000	-645,000	-2,607,000	-217,000											-4,653,000	-1,641,000	-2,282,000	-2,443,000	-843,000	-3,225,000	-4,691,000	-4,522,000
contributions by noncontrolling interest owner																							1,102,000	3,307,000
net loss																								-51,111,000
goodwill impairment																																	17,081,000
proceeds from returns of investments in affiliates																																	-270,000				1,743,000				140,000	-386,000
proceeds from long-term financing agreements
gains on sale of rail group assets and related leases																												-736,000		-1,922,000	-1,709,000	-2,280,000		-2,658,000	-1,375,000	-3,609,000
loss on sale of assets																												143,000			-619,000	277,000
gain on sale of assets																													-1,037,000
accounts payable and accrued expenses
proceeds from long-term financing arrangements
proceeds from (distributions to) noncontrolling interest owner
proceeds from long-term financing arrangement																																		1,799,000	0	10,396,000
proceeds from sale of treasury shares to employees and directors																																		-23,000	-38,000	511,000	-132,000	-123,000	7,000	1,275,000	21,000	21,000	23,000	403,000	-55,000	90,000	-25,000	1,499,000	252,000	140,000	-40,000	1,587,000	-44,000	16,000	106,000	1,244,000	85,000	20,000	587,000	123,000	17,000	-2,000	27,000	1,263,000
pension settlement charge, net of cash contributed
asset impairment charge
purchases of treasury stock
gains on sale of assets
gains on sale of facilities and investments in affiliates																																			0	-4,701,000
goodwill impairment expense
proceeds from sale of property, plant and equipment																																			521,000	125,000	231,000	157,000	-33,000	206,000	100,000	-269,000	373,000	80,000	358,000	760,000	175,000	108,000	39,000	214,000	69,000	68,000	299,000	92,000	217,000	508,000		712,000	56,000	64,000		132,000	71,000	21,000
proceeds from sale of facilities and investments																																			1,000	13,787,000
change in restricted cash																																				-281,000		798,000	-269,000	-269,000	-269,000	761,000	-257,000	-256,000	-256,000	723,000	-244,000	-244,000	-243,000	707,000	-237,000	-237,000	-238,000	5,484,000	13,141,000	-134,000	-6,731,000	652,000	-219,000	-219,000	-9,218,000	633,000	-212,000	-213,000
gain on sale of investments in affiliates																																													0	0	0	-17,055,000
loss on sales of property, plant and equipment
excess tax benefit from share-based payment arrangement																																									0	0	-1,075,000	-224,000	-36,000	-125,000	-37,000	-1,608,000	-399,000	-324,000			-123,000	-4,000							-87,000	-23,000	-38,000	-728,000
goodwill impairment charge
purchases of property, plant and equipment																																					-21,602,000	-21,695,000	-22,138,000	-12,305,000	-30,082,000	-14,173,000	-21,472,000	-6,742,000	-20,051,000	-18,991,000	-15,110,000	-5,523,000	-15,431,000	-12,806,000	-12,355,000	-6,194,000	-17,592,000	-13,511,000	-23,157,000	-15,014,000	-14,556,000	-17,034,000	-8,410,000	-4,162,000	-7,499,000	-8,153,000	-10,386,000	-4,859,000
proceeds from sale of investments																																					0	0	0	15,013,000
proceeds from sale of facilities																																					0	0
proceeds from financing agreements
purchase of treasury stock																																									0	-14,929,000	-6,377,000	-27,783,000													-293,000	-2,607,000
gain on sale of investments																																						0	0	-685,000
trade and other payables																																							-125,741,000	-270,296,000		104,627,000
investments in affiliates																																								-22,000					0
cash distributions to noncontrolling interests
cash distributions in excess of (less than) income of unconsolidated affiliates																																											-3,384,000	1,404,000
(distributions to) proceeds from noncontrolling interest owner
accounts payable for grain																																												-329,821,000	313,797,000	57,948,000	-19,768,000	-408,185,000	350,608,000	63,558,000	-5,980,000	-398,656,000	243,104,000	120,086,000	14,744,000	-276,669,000	314,092,000	-2,561,000	-10,068,000	-184,154,000	127,651,000	54,785,000	-12,494,000	-149,239,000
other accounts payable and accrued expenses																																												11,074,000	70,403,000	20,269,000	-113,975,000	67,082,000	-5,573,000	16,293,000	-128,358,000	52,174,000	-7,569,000	77,241,000	-113,061,000	49,303,000	10,697,000	-8,733,000	-17,928,000	65,672,000	-13,155,000	82,547,000	-57,556,000	19,820,000
proceeds from redemption of investment																																																					0	0
cash distributions in excess of (less than) income of unconsolidated affiliates, net of noncontrolling interests
gains on sales of railcars and related leases																																														-1,382,000	-2,515,000	-10,769,000				-9,699,000	-1,405,000	-13,586,000	-2,380,000	-6,294,000	-753,000	-631,000	-2,267,000	-4,766,000	-1,406,000	-2,376,000	-1,430,000	-2,559,000
purchases of railcars																																														-8,891,000	-16,398,000	-14,005,000	-21,030,000	-14,655,000	-12,658,000	-44,241,000	-8,371,000	-25,825,000	-43,614,000	-33,414,000	-25,722,000	-6,284,000	-21,341,000	-10,814,000	-4,728,000	-4,670,000
proceeds from sale of railcars																																														1,699,000	3,730,000	25,465,000	9,612,000	34,377,000	17,099,000	36,144,000	33,512,000	41,258,000	5,851,000	10,206,000	10,558,000	2,066,000	8,615,000	9,159,000	2,628,000	4,837,000
proceeds from returns of investments in affiliates, net of noncontrolling interests
proceeds from sale of investments in affiliates																																															0	31,457,000
cash distributions in excess of income of unconsolidated affiliates																																																45,061,000				531,000		-467,000	849,000	8,602,000
cash distributions (less than) in excess of income of unconsolidated affiliates																																																	-28,467,000	-18,153,000
lower of cost or market inventory and contract adjustment
impairment of property, plant and equipment
proceeds from minority investor																																																					0	0
gains and amortization of deferred gains on sales of railcars and related leases																																																		-2,760,000
proceeds from other financing activities																																																				55,000
cash distributions less than (in excess of) income of unconsolidated affiliates
investment in convertible preferred securities																																																													0	0
acquisition of businesses
purchase of treasury bills																																																								-19,996,000
adjustments to reconcile net income to net cash from operating activities:
equity in earnings of unconsolidated affiliates, net of distributions received																																																									-9,922,000	-9,230,000
gain from pension plan curtailment
proceeds from sale of property, plant and equipment and other
investment in affiliates
payment of debt issuance costs
excess tax benefit from share-based payment arrangements
acquisition of business																																																														-569,000
purchase of investment
equity in loss (earnings) of unconsolidated affiliates, net of distributions received																																																												1,372,000
net increase in short-term borrowings																																																												218,900,000	139,700,000
equity in (earnings) loss of unconsolidated affiliates, net of distributions received
commodity derivatives and margin deposits																																																													-49,299,000	-180,419,000	35,364,000	36,171,000
prepaid expenses and other assets																																																													1,548,000	-14,663,000	19,315,000	-10,170,000
proceeds received from minority interest
equity in (earnings)loss of unconsolidated affiliates, net of distributions received																																																														3,072,000
gain from pension curtailment
net cash (used in) investing activities
proceeds received from issuance of long-term debt																																																														1,855,000	1,466,000	994,000
payments on long-term debt																																																														-19,278,000	-15,055,000	-640,000
increase(decrease) in cash and cash equivalents
adjustments to reconcile net income to provided by operating activities:
equity in earnings/loss of unconsolidated affiliates, net of distributions received																																																																-9,807,000
purchases of railcars and related leases																																																																-8,361,000
proceeds from sale of railcars and related leases																																																																6,014,000
payments of non-recourse long-term debt																																																																-1,143,000

The Andersons, Inc(NASDAQ:ANDE)

The Andersons, Inc
(NASDAQ:ANDE)