gpre-20210630x10q
false--12-31Q220210001309402P3Y0001309402us-gaap:StockCompensationPlanMember2021-04-012021-06-300001309402gpre:WarrantsMember2021-04-012021-06-300001309402us-gaap:StockCompensationPlanMember2021-01-012021-06-300001309402gpre:WarrantsMember2021-01-012021-06-300001309402us-gaap:CorporateMember2021-06-300001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:TreasuryStockMember2020-01-012020-12-310001309402us-gaap:TreasuryStockMember2020-01-012020-03-310001309402us-gaap:CommonStockMember2021-03-012021-03-010001309402us-gaap:TreasuryStockMember2021-04-012021-06-300001309402us-gaap:RetainedEarningsMember2021-06-300001309402us-gaap:ParentMember2021-06-300001309402us-gaap:NoncontrollingInterestMember2021-06-300001309402us-gaap:AdditionalPaidInCapitalMember2021-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001309402us-gaap:RetainedEarningsMember2021-03-310001309402us-gaap:ParentMember2021-03-310001309402us-gaap:NoncontrollingInterestMember2021-03-310001309402us-gaap:AdditionalPaidInCapitalMember2021-03-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-3100013094022021-03-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:ParentMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AdditionalPaidInCapitalMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:TreasuryStockMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:RetainedEarningsMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:ParentMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:NoncontrollingInterestMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:AdditionalPaidInCapitalMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001309402us-gaap:RetainedEarningsMember2020-12-310001309402us-gaap:ParentMember2020-12-310001309402us-gaap:NoncontrollingInterestMember2020-12-310001309402us-gaap:AdditionalPaidInCapitalMember2020-12-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-12-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310001309402us-gaap:RetainedEarningsMember2020-06-300001309402us-gaap:ParentMember2020-06-300001309402us-gaap:NoncontrollingInterestMember2020-06-300001309402us-gaap:AdditionalPaidInCapitalMember2020-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300001309402us-gaap:RetainedEarningsMember2020-03-310001309402us-gaap:ParentMember2020-03-310001309402us-gaap:NoncontrollingInterestMember2020-03-310001309402us-gaap:AdditionalPaidInCapitalMember2020-03-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-3100013094022020-03-310001309402us-gaap:RetainedEarningsMember2019-12-310001309402us-gaap:ParentMember2019-12-310001309402us-gaap:NoncontrollingInterestMember2019-12-310001309402us-gaap:AdditionalPaidInCapitalMember2019-12-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001309402gpre:OtherShortTermDebtMember2020-12-310001309402us-gaap:TreasuryStockMember2021-06-300001309402us-gaap:CommonStockMember2021-06-300001309402us-gaap:TreasuryStockMember2021-03-310001309402srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:CommonStockMember2020-12-310001309402us-gaap:TreasuryStockMember2020-12-310001309402us-gaap:CommonStockMember2020-12-310001309402us-gaap:TreasuryStockMember2020-06-300001309402us-gaap:CommonStockMember2020-06-300001309402us-gaap:TreasuryStockMember2020-03-310001309402us-gaap:CommonStockMember2020-03-310001309402us-gaap:TreasuryStockMember2019-12-310001309402us-gaap:CommonStockMember2019-12-310001309402us-gaap:CommonStockMember2021-03-310001309402us-gaap:PerformanceSharesMember2019-12-310001309402us-gaap:PerformanceSharesMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2021-06-300001309402us-gaap:PerformanceSharesMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-06-300001309402us-gaap:PerformanceSharesMember2021-06-300001309402gpre:RestrictedStockAwardsAndDeferredStockUnitsMember2021-06-300001309402gpre:GreenPlainsPartnersLp2015LongTermIncentivePlanMember2021-06-300001309402us-gaap:PerformanceSharesMember2020-12-310001309402gpre:RestrictedStockAwardsAndDeferredStockUnitsMember2020-12-310001309402gpre:GreenPlainsPartnersLp2015LongTermIncentivePlanMember2020-12-310001309402us-gaap:PerformanceSharesMember2021-01-012021-06-300001309402gpre:RestrictedStockAwardsAndDeferredStockUnitsMember2021-01-012021-06-300001309402gpre:PerformanceSharesPredeterminedRonaMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2021-01-012021-06-300001309402gpre:GreenPlainsPartnersLp2015LongTermIncentivePlanMember2021-01-012021-06-300001309402srt:ParentCompanyMemberus-gaap:LimitedPartnerMemberus-gaap:IPOMember2015-07-012015-07-010001309402srt:ParentCompanyMemberus-gaap:GeneralPartnerMemberus-gaap:IPOMember2015-07-012015-07-010001309402us-gaap:IntersegmentEliminationMembergpre:PartnershipSegmentMember2021-04-012021-06-300001309402us-gaap:IntersegmentEliminationMembergpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402us-gaap:ServiceMember2021-04-012021-06-300001309402us-gaap:ProductMember2021-04-012021-06-300001309402us-gaap:OperatingSegmentsMember2021-04-012021-06-300001309402us-gaap:IntersegmentEliminationMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402us-gaap:IntersegmentEliminationMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402us-gaap:ServiceMember2021-01-012021-06-300001309402us-gaap:ProductMember2021-01-012021-06-300001309402us-gaap:OperatingSegmentsMember2021-01-012021-06-300001309402us-gaap:IntersegmentEliminationMembergpre:PartnershipSegmentMember2020-04-012020-06-300001309402us-gaap:IntersegmentEliminationMembergpre:EthanolProductionMember2020-04-012020-06-300001309402us-gaap:IntersegmentEliminationMembergpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402us-gaap:ServiceMember2020-04-012020-06-300001309402us-gaap:ProductMember2020-04-012020-06-300001309402us-gaap:OperatingSegmentsMember2020-04-012020-06-300001309402us-gaap:IntersegmentEliminationMembergpre:PartnershipSegmentMember2020-01-012020-06-300001309402us-gaap:IntersegmentEliminationMembergpre:EthanolProductionMember2020-01-012020-06-300001309402us-gaap:IntersegmentEliminationMembergpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402us-gaap:ServiceMember2020-01-012020-06-300001309402us-gaap:ProductMember2020-01-012020-06-300001309402us-gaap:OperatingSegmentsMember2020-01-012020-06-300001309402gpre:ServiceRevenuesMembergpre:PartnershipSegmentMember2021-04-012021-06-300001309402gpre:ServiceRevenuesMembergpre:EthanolProductionMember2021-04-012021-06-300001309402gpre:IntersegmentRevenuesMembergpre:PartnershipSegmentMember2021-04-012021-06-300001309402gpre:ServiceRevenuesMember2021-04-012021-06-300001309402gpre:ServiceRevenuesMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402gpre:ServiceRevenuesMembergpre:EthanolProductionMember2021-01-012021-06-300001309402gpre:IntersegmentRevenuesMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402gpre:ServiceRevenuesMember2021-01-012021-06-300001309402gpre:ServiceRevenuesMembergpre:PartnershipSegmentMember2020-04-012020-06-300001309402gpre:IntersegmentRevenuesMembergpre:PartnershipSegmentMember2020-04-012020-06-300001309402gpre:IntersegmentRevenuesMembergpre:EthanolProductionMember2020-04-012020-06-300001309402gpre:ServiceRevenuesMember2020-04-012020-06-300001309402gpre:ServiceRevenuesMembergpre:PartnershipSegmentMember2020-01-012020-06-300001309402gpre:IntersegmentRevenuesMembergpre:PartnershipSegmentMember2020-01-012020-06-300001309402gpre:IntersegmentRevenuesMembergpre:EthanolProductionMember2020-01-012020-06-300001309402gpre:ServiceRevenuesMember2020-01-012020-06-300001309402gpre:CreditFacilityMembergpre:StorageAssetsLocatedAdjacentToOrdPlantMembergpre:TermLoanMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402srt:MaximumMembergpre:CreditFacilityMembergpre:PartnershipSegmentMember2021-06-300001309402gpre:CreditFacilityMembergpre:ExpectedByFourthQuarterOf2021Membergpre:PartnershipSegmentMember2021-06-300001309402us-gaap:RetainedEarningsMember2021-04-012021-06-300001309402us-gaap:RetainedEarningsMember2021-01-012021-03-310001309402us-gaap:RetainedEarningsMember2020-04-012020-06-300001309402us-gaap:RetainedEarningsMember2020-01-012020-03-310001309402gpre:AircraftLeaseMembersrt:BoardOfDirectorsChairmanMember2021-04-012021-06-300001309402gpre:AircraftLeaseMembersrt:BoardOfDirectorsChairmanMember2020-04-012020-06-300001309402gpre:AircraftLeaseMembersrt:BoardOfDirectorsChairmanMember2020-01-012020-06-300001309402us-gaap:CommodityContractMember2021-04-012021-06-300001309402us-gaap:CommodityContractMember2021-01-012021-06-300001309402us-gaap:CommodityContractMember2020-04-012020-06-300001309402us-gaap:CommodityContractMember2020-01-012020-06-300001309402gpre:PartnershipSegmentMember2021-04-012021-06-300001309402gpre:PartnershipSegmentMember2021-01-012021-06-300001309402gpre:PartnershipSegmentMember2020-04-012020-06-300001309402gpre:PartnershipSegmentMember2020-01-012020-06-300001309402us-gaap:NoncontrollingInterestMember2020-04-012020-06-300001309402us-gaap:NoncontrollingInterestMember2020-01-012020-03-310001309402gpre:IndirectInterestByMr.EjnarKnudsenMembergpre:Mr.EjnarKnudsenMembergpre:GreenPlainsCattleMember2020-06-300001309402srt:RevisionOfPriorPeriodReclassificationAdjustmentMember2021-06-300001309402gpre:GreenPlainsGrainMembersrt:MinimumMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:GreenPlainsGrainMembersrt:MaximumMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMembersrt:MinimumMembergpre:DelayedDrawLoanAgreementMember2021-01-012021-06-300001309402gpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMembersrt:MaximumMembergpre:DelayedDrawLoanAgreementMember2021-01-012021-06-300001309402gpre:AmendedCreditFacilityMemberus-gaap:SubsequentEventMember2021-07-200001309402gpre:GreenPlainsTradeMembergpre:FirstInLastOutFiloCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-06-300001309402gpre:GreenPlainsTradeMembergpre:CreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-06-300001309402gpre:GreenPlainsCommodityManagementMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-06-300001309402srt:MinimumMembergpre:RailcarOperatingLeaseMember2021-06-300001309402srt:MaximumMembergpre:RailcarOperatingLeaseMember2021-06-300001309402gpre:NetOperatingLoss2019Member2020-01-012020-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-300001309402gpre:OrdEthanolPlantMember2021-03-222021-03-220001309402gpre:OrdEthanolPlantMembergpre:PartnershipSegmentMember2021-03-220001309402gpre:GreenPlainsCattleCompanyLlcMember2020-10-010001309402gpre:GreenPlainsCattleCompanyLlcMember2021-06-300001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-04-012021-06-300001309402gpre:ConvertibleNotesDue2027Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-04-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:SalesMember2021-04-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2021-04-012021-06-300001309402us-gaap:NondesignatedMember2021-04-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:SalesMember2021-01-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2021-01-012021-06-300001309402us-gaap:NondesignatedMember2021-01-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:SalesMember2020-04-012020-06-300001309402us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2020-04-012020-06-300001309402us-gaap:NondesignatedMember2020-04-012020-06-300001309402us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:SalesMember2020-01-012020-06-300001309402us-gaap:CommodityContractMemberus-gaap:NondesignatedMemberus-gaap:CostOfSalesMember2020-01-012020-06-300001309402us-gaap:NondesignatedMember2020-01-012020-06-300001309402us-gaap:CommodityContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CostOfSalesMember2021-04-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:FairValueHedgingMemberus-gaap:CostOfSalesMember2021-04-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CostOfSalesMember2021-01-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:FairValueHedgingMemberus-gaap:CostOfSalesMember2021-01-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CostOfSalesMember2020-04-012020-06-300001309402us-gaap:CommodityContractMemberus-gaap:FairValueHedgingMemberus-gaap:CostOfSalesMember2020-04-012020-06-300001309402us-gaap:CostOfSalesMember2020-04-012020-06-300001309402us-gaap:CommodityContractMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CostOfSalesMember2020-01-012020-06-300001309402us-gaap:CommodityContractMemberus-gaap:FairValueHedgingMemberus-gaap:CostOfSalesMember2020-01-012020-06-300001309402us-gaap:SalesMember2021-04-012021-06-300001309402us-gaap:CostOfSalesMember2021-04-012021-06-300001309402us-gaap:SalesMember2021-01-012021-06-300001309402us-gaap:CostOfSalesMember2021-01-012021-06-300001309402us-gaap:SalesMember2020-04-012020-06-300001309402us-gaap:SalesMember2020-01-012020-06-300001309402us-gaap:CostOfSalesMember2020-01-012020-06-300001309402us-gaap:CommodityContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001309402us-gaap:OtherLiabilitiesMember2021-06-300001309402us-gaap:OtherAssetsMember2021-06-300001309402us-gaap:OtherAssetsMember2020-12-310001309402us-gaap:DerivativeFinancialInstrumentsAssetsMember2020-12-310001309402us-gaap:IntersegmentEliminationMembergpre:IntersegmentRevenuesMember2021-04-012021-06-300001309402gpre:ProductsAndServicesOtherMembergpre:EthanolProductionMember2021-04-012021-06-300001309402gpre:ProductsAndServicesOtherMembergpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402gpre:IntersegmentRevenuesMembergpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402gpre:GrainMembergpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402gpre:EthanolMembergpre:EthanolProductionMember2021-04-012021-06-300001309402gpre:EthanolMembergpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402gpre:DistillerGrainsMembergpre:EthanolProductionMember2021-04-012021-06-300001309402gpre:DistillerGrainsMembergpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402gpre:CornOilMembergpre:EthanolProductionMember2021-04-012021-06-300001309402gpre:CornOilMembergpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402gpre:ProductsAndServicesOtherMember2021-04-012021-06-300001309402gpre:GrainMember2021-04-012021-06-300001309402gpre:EthanolProductionMember2021-04-012021-06-300001309402gpre:EthanolMember2021-04-012021-06-300001309402gpre:DistillerGrainsMember2021-04-012021-06-300001309402gpre:CornOilMember2021-04-012021-06-300001309402gpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402us-gaap:IntersegmentEliminationMembergpre:IntersegmentRevenuesMember2021-01-012021-06-300001309402gpre:ProductsAndServicesOtherMembergpre:EthanolProductionMember2021-01-012021-06-300001309402gpre:ProductsAndServicesOtherMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:IntersegmentRevenuesMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:GrainMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:EthanolMembergpre:EthanolProductionMember2021-01-012021-06-300001309402gpre:EthanolMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:DistillerGrainsMembergpre:EthanolProductionMember2021-01-012021-06-300001309402gpre:DistillerGrainsMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:CornOilMembergpre:EthanolProductionMember2021-01-012021-06-300001309402gpre:CornOilMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:ProductsAndServicesOtherMember2021-01-012021-06-300001309402gpre:GrainMember2021-01-012021-06-300001309402gpre:EthanolProductionMember2021-01-012021-06-300001309402gpre:EthanolMember2021-01-012021-06-300001309402gpre:DistillerGrainsMember2021-01-012021-06-300001309402gpre:CornOilMember2021-01-012021-06-300001309402gpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402us-gaap:IntersegmentEliminationMembergpre:IntersegmentRevenuesMember2020-04-012020-06-300001309402gpre:ProductsAndServicesOtherMembergpre:EthanolProductionMember2020-04-012020-06-300001309402gpre:ProductsAndServicesOtherMembergpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402gpre:IntersegmentRevenuesMembergpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402gpre:GrainMembergpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402gpre:EthanolMembergpre:EthanolProductionMember2020-04-012020-06-300001309402gpre:EthanolMembergpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402gpre:DistillerGrainsMembergpre:EthanolProductionMember2020-04-012020-06-300001309402gpre:DistillerGrainsMembergpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402gpre:CornOilMembergpre:EthanolProductionMember2020-04-012020-06-300001309402gpre:CornOilMembergpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402gpre:ProductsAndServicesOtherMember2020-04-012020-06-300001309402gpre:GrainMember2020-04-012020-06-300001309402gpre:EthanolProductionMember2020-04-012020-06-300001309402gpre:EthanolMember2020-04-012020-06-300001309402gpre:DistillerGrainsMember2020-04-012020-06-300001309402gpre:CornOilMember2020-04-012020-06-300001309402gpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402us-gaap:IntersegmentEliminationMembergpre:IntersegmentRevenuesMember2020-01-012020-06-300001309402gpre:ProductsAndServicesOtherMembergpre:EthanolProductionMember2020-01-012020-06-300001309402gpre:ProductsAndServicesOtherMembergpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402gpre:IntersegmentRevenuesMembergpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402gpre:GrainMembergpre:EthanolProductionMember2020-01-012020-06-300001309402gpre:GrainMembergpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402gpre:EthanolMembergpre:EthanolProductionMember2020-01-012020-06-300001309402gpre:EthanolMembergpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402gpre:DistillerGrainsMembergpre:EthanolProductionMember2020-01-012020-06-300001309402gpre:DistillerGrainsMembergpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402gpre:CornOilMembergpre:EthanolProductionMember2020-01-012020-06-300001309402gpre:CornOilMembergpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402gpre:ProductsAndServicesOtherMember2020-01-012020-06-300001309402gpre:GrainMember2020-01-012020-06-300001309402gpre:EthanolProductionMember2020-01-012020-06-300001309402gpre:EthanolMember2020-01-012020-06-300001309402gpre:DistillerGrainsMember2020-01-012020-06-300001309402gpre:CornOilMember2020-01-012020-06-300001309402gpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402us-gaap:OperatingSegmentsMembergpre:PartnershipSegmentMember2021-04-012021-06-300001309402us-gaap:CorporateMember2021-04-012021-06-300001309402us-gaap:OperatingSegmentsMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402us-gaap:CorporateMember2021-01-012021-06-300001309402us-gaap:OperatingSegmentsMembergpre:PartnershipSegmentMember2020-04-012020-06-300001309402us-gaap:CorporateMember2020-04-012020-06-300001309402us-gaap:OperatingSegmentsMembergpre:PartnershipSegmentMember2020-01-012020-06-300001309402us-gaap:CorporateMember2020-01-012020-06-300001309402srt:RestatementAdjustmentMember2021-03-310001309402gpre:CreditFacilityMemberus-gaap:RevolvingCreditFacilityMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402gpre:ConvertibleNotes4.125Due2022Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-03-310001309402gpre:CreditFacilityMembergpre:TermLoanMembergpre:PartnershipSegmentMember2021-04-152021-04-150001309402gpre:CreditFacilityMembergpre:TermLoanPaymentsBeginningInMay152021Membergpre:TermLoanMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402gpre:GreenPlainsTradeMembergpre:CreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:GreenPlainsCommodityManagementMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-01-012021-06-300001309402gpre:ConvertibleNotesDue2027Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-01-012021-06-300001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-05-180001309402srt:MinimumMembergpre:AmendedCreditFacilityMemberus-gaap:SubsequentEventMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-07-200001309402srt:MinimumMembergpre:CreditFacilityMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402gpre:GreenPlainsSpeLlcMemberus-gaap:JuniorSubordinatedDebtMembergpre:PaidInKindMember2021-01-012021-06-300001309402gpre:GreenPlainsSpeLlcMemberus-gaap:JuniorSubordinatedDebtMembergpre:ElectToPayInCashMember2021-01-012021-06-300001309402gpre:GreenPlainsSpeLlcMemberus-gaap:JuniorSubordinatedDebtMember2021-01-012021-06-300001309402gpre:CreditFacilityMemberus-gaap:RevolvingCreditFacilityMembergpre:PartnershipSegmentMember2021-06-300001309402gpre:GreenPlainsTradeMembergpre:Revolver300.0MillionMember2021-06-300001309402gpre:GreenPlainsGrainMembergpre:ShortTermInventoryFinancingAgreementsMember2021-06-300001309402gpre:GreenPlainsGrainMembergpre:Revolver100.0MillionMember2021-06-300001309402gpre:GreenPlainsGrainMembergpre:InventoryFinancing50.0MillionMember2021-06-300001309402gpre:GreenPlainsCommodityManagementMembergpre:HedgeLine30.0MillionMember2021-06-300001309402gpre:GreenPlainsSpeLlcMemberus-gaap:JuniorSubordinatedDebtMember2021-02-090001309402gpre:GreenPlainsTradeMembergpre:Revolver300.0MillionMember2020-12-310001309402gpre:GreenPlainsGrainMembergpre:Revolver100.0MillionMember2020-12-310001309402gpre:GreenPlainsGrainMembergpre:InventoryFinancing50.0MillionMember2020-12-310001309402gpre:GreenPlainsCommodityManagementMembergpre:HedgeLine30.0MillionMember2020-12-310001309402gpre:ConvertibleNotesDue2027Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-03-310001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-06-300001309402gpre:CreditFacilityMembergpre:TermLoanMembergpre:PartnershipSegmentMember2021-06-300001309402gpre:ConvertibleNotesDue2027Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-06-300001309402gpre:ConvertibleNotes4.125Due2022Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-06-300001309402gpre:PartnershipSegmentMembergpre:CreditFacilityMember2021-06-300001309402gpre:GreenPlainsSpeLlcMemberus-gaap:JuniorSubordinatedDebtMember2021-06-300001309402us-gaap:OtherDebtSecuritiesMember2021-06-300001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2020-12-310001309402gpre:ConvertibleNotes4.125Due2022Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2020-12-310001309402gpre:PartnershipSegmentMembergpre:CreditFacilityMember2020-12-310001309402gpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMembergpre:DelayedDrawLoanAgreementMember2020-12-310001309402us-gaap:OtherDebtSecuritiesMember2020-12-310001309402gpre:AmendedCreditFacilityMemberus-gaap:SubsequentEventMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-07-202021-07-200001309402srt:MinimumMembergpre:CreditFacilityMemberus-gaap:RevolvingCreditFacilityMembergpre:PartnershipSegmentMemberus-gaap:PrimeRateMember2021-01-012021-06-300001309402srt:MinimumMembergpre:CreditFacilityMembergpre:InterestRateAfterApril12021Membergpre:PartnershipSegmentMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402srt:MaximumMembergpre:CreditFacilityMemberus-gaap:RevolvingCreditFacilityMembergpre:PartnershipSegmentMemberus-gaap:PrimeRateMember2021-01-012021-06-300001309402srt:MaximumMembergpre:CreditFacilityMembergpre:InterestRateAfterApril12021Membergpre:PartnershipSegmentMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402srt:MinimumMembergpre:CreditFacilityMembergpre:PartnershipSegmentMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402srt:MaximumMembergpre:CreditFacilityMembergpre:PartnershipSegmentMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402gpre:GreenPlainsTradeMembergpre:FirstInLastOutFiloCreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402gpre:GreenPlainsTradeMembergpre:CreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402gpre:GreenPlainsGrainMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402gpre:GreenPlainsGrainMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:BaseRateMember2021-01-012021-06-300001309402gpre:GreenPlainsCommodityManagementMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-05-012021-05-310001309402us-gaap:CommodityContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300001309402us-gaap:CommodityContractMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2021-04-012021-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2021-04-012021-06-300001309402us-gaap:IntersegmentEliminationMember2021-04-012021-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2021-01-012021-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402us-gaap:IntersegmentEliminationMember2021-01-012021-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2020-04-012020-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2020-04-012020-06-300001309402us-gaap:IntersegmentEliminationMember2020-04-012020-06-300001309402srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-04-012020-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2020-01-012020-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2020-01-012020-06-300001309402us-gaap:IntersegmentEliminationMember2020-01-012020-06-300001309402srt:RevisionOfPriorPeriodErrorCorrectionAdjustmentMember2020-01-012020-06-300001309402gpre:CustomerSRevenueOver10Memberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-06-300001309402gpre:CustomerMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2020-04-012020-06-300001309402gpre:CustomerMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2020-01-012020-06-300001309402us-gaap:CommonStockMember2021-03-0100013094022019-12-3100013094022020-06-300001309402us-gaap:FairValueInputsLevel1Member2021-06-300001309402us-gaap:FairValueInputsLevel1Member2020-12-310001309402us-gaap:OperatingSegmentsMembergpre:PartnershipSegmentMember2021-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2021-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2021-06-300001309402us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-06-300001309402us-gaap:IntersegmentEliminationMember2021-06-300001309402us-gaap:CorporateNonSegmentMember2021-06-300001309402us-gaap:OperatingSegmentsMembergpre:PartnershipSegmentMember2020-12-310001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2020-12-310001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2020-12-310001309402us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-12-310001309402us-gaap:IntersegmentEliminationMember2020-12-310001309402us-gaap:CorporateNonSegmentMember2020-12-310001309402us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001309402us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300001309402us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310001309402gpre:FluidQuipTechnologiesLlcMember2021-06-300001309402srt:RestatementAdjustmentMembergpre:FluidQuipTechnologiesLlcMember2021-03-310001309402srt:RestatementAdjustmentMembergpre:FluidQuipTechnologiesLlcMember2020-12-310001309402gpre:AircraftLeaseMember2021-06-300001309402gpre:AircraftLeaseMember2020-12-310001309402us-gaap:NoncontrollingInterestMember2021-04-012021-06-300001309402us-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:CashFlowHedgingMember2021-06-300001309402us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2021-06-300001309402us-gaap:CommonStockMember2021-04-012021-06-300001309402us-gaap:CommonStockMember2021-01-012021-03-310001309402us-gaap:CommonStockMember2020-04-012020-06-300001309402us-gaap:CommonStockMember2020-01-012020-03-310001309402us-gaap:PerformanceSharesMember2019-01-012019-12-310001309402us-gaap:PerformanceSharesMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2021-01-012021-06-300001309402us-gaap:PerformanceSharesMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2021-01-012021-06-300001309402us-gaap:LimitedPartnerMemberus-gaap:IPOMember2015-07-012015-07-010001309402gpre:GreenPlainsCattleMember2020-04-012020-06-300001309402gpre:GreenPlainsCattleMember2020-01-012020-06-300001309402us-gaap:ParentMember2021-04-012021-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-3000013094022021-04-012021-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-3100013094022021-01-012021-03-310001309402us-gaap:ParentMember2020-04-012020-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-3000013094022020-04-012020-06-3000013094022020-01-012020-06-300001309402us-gaap:ParentMember2020-01-012020-03-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-3100013094022020-01-012020-03-310001309402srt:MinimumMember2021-01-012021-06-300001309402srt:MaximumMember2021-01-012021-06-300001309402gpre:ExercisePriceTwoMembergpre:WarrantsMember2021-06-300001309402gpre:ExercisePriceThreeMembergpre:WarrantsMember2021-06-300001309402gpre:ExercisePriceOneMembergpre:WarrantsMember2021-06-300001309402gpre:AircraftLeaseMembersrt:BoardOfDirectorsChairmanMember2020-01-012020-12-310001309402gpre:WarrantsMember2021-06-300001309402us-gaap:DerivativeFinancialInstrumentsAssetsMember2021-06-300001309402us-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:CashFlowHedgingMember2020-12-310001309402us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2020-12-310001309402gpre:GreenPlainsGrainMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-06-300001309402gpre:AmendedCreditFacilityMemberus-gaap:SubsequentEventMember2021-07-202021-07-200001309402gpre:AmendedCreditFacilityMember2021-01-012021-06-300001309402gpre:RailcarOperatingLeaseMember2021-06-300001309402us-gaap:ParentMember2021-01-012021-03-310001309402us-gaap:NoncontrollingInterestMember2021-01-012021-03-310001309402us-gaap:FairValueInputsLevel2Member2021-06-300001309402us-gaap:FairValueInputsLevel2Member2020-12-310001309402gpre:GreenPlainsCattleCompanyLlcMember2020-04-012020-06-300001309402gpre:GreenPlainsTradeMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-06-300001309402gpre:GreenPlainsGrainMembergpre:AgribusinessAndEnergyServicesMember2021-06-300001309402gpre:ExercisePriceOneMembergpre:WarrantsMember2021-01-012021-06-300001309402gpre:ExercisePriceTwoMember2021-01-012021-06-300001309402gpre:ExercisePriceThreeMember2021-01-012021-06-300001309402gpre:WarrantsMember2021-01-012021-06-300001309402gpre:GreenPlainsCattleCompanyLlcMember2020-10-012020-10-010001309402gpre:GreenPlainsCattleCompanyLlcMember2020-01-012020-06-3000013094022021-03-220001309402gpre:OrdEthanolPlantMember2021-03-220001309402gpre:NaturalGasMemberus-gaap:CashFlowHedgingMemberus-gaap:FutureMemberus-gaap:ShortMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:EthanolInGallonsMemberus-gaap:CashFlowHedgingMemberus-gaap:FutureMemberus-gaap:ShortMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:SoybeanOilMemberus-gaap:OptionMemberus-gaap:LongMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:SoybeanOilMemberus-gaap:FutureMemberus-gaap:ShortMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:SoybeanMealInTonsMemberus-gaap:FutureMemberus-gaap:LongMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:NaturalGasMemberus-gaap:OptionMemberus-gaap:LongMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:NaturalGasMemberus-gaap:FutureMemberus-gaap:LongMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:NaturalGasMemberus-gaap:ForwardContractsMemberus-gaap:ShortMemberus-gaap:OverTheCounterMember2021-06-300001309402gpre:NaturalGasMemberus-gaap:ForwardContractsMemberus-gaap:LongMemberus-gaap:OverTheCounterMember2021-06-300001309402gpre:EthanolInGallonsMemberus-gaap:OptionMemberus-gaap:ShortMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:EthanolInGallonsMemberus-gaap:FutureMemberus-gaap:ShortMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:EthanolInGallonsMemberus-gaap:ForwardContractsMemberus-gaap:ShortMemberus-gaap:OverTheCounterMember2021-06-300001309402gpre:DistillersGrainsInTonsMemberus-gaap:ForwardContractsMemberus-gaap:ShortMemberus-gaap:OverTheCounterMember2021-06-300001309402gpre:DistillersGrainsInTonsMemberus-gaap:ForwardContractsMemberus-gaap:LongMemberus-gaap:OverTheCounterMember2021-06-300001309402gpre:CornOilInPoundsMemberus-gaap:ForwardContractsMemberus-gaap:ShortMemberus-gaap:OverTheCounterMember2021-06-300001309402gpre:CornOilInPoundsMemberus-gaap:ForwardContractsMemberus-gaap:LongMemberus-gaap:OverTheCounterMember2021-06-300001309402gpre:CornMemberus-gaap:OptionMemberus-gaap:LongMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:CornMemberus-gaap:FutureMemberus-gaap:ShortMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:CornMemberus-gaap:FutureMemberus-gaap:LongMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:CornAndSoybeansMemberus-gaap:FutureMemberus-gaap:ShortMemberus-gaap:ExchangeTradedMember2021-06-300001309402gpre:CornAndSoybeansMemberus-gaap:ForwardContractsMemberus-gaap:ShortMemberus-gaap:OverTheCounterMember2021-06-300001309402gpre:CornAndSoybeansMemberus-gaap:ForwardContractsMemberus-gaap:LongMemberus-gaap:OverTheCounterMember2021-06-300001309402srt:RestatementAdjustmentMember2020-12-310001309402gpre:CreditFacilityMembergpre:TermLoanMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402gpre:CreditFacilityMembergpre:PartnershipSegmentMember2021-01-012021-06-300001309402gpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMembergpre:DelayedDrawLoanAgreementMember2021-06-300001309402gpre:CreditFacilityMembergpre:InterestRateAfterApril12021Membergpre:PartnershipSegmentMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300001309402gpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMembergpre:DelayedDrawLoanAgreementMember2021-01-012021-06-300001309402gpre:GreenPlainsGrainMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:GreenPlainsGrainMembergpre:SeasonalBorrowingsMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2019-06-012019-06-300001309402gpre:ConvertibleNotesDue2027Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-03-012021-03-310001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2019-06-300001309402gpre:ConvertibleNotes4.125Due2022Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2016-08-310001309402gpre:FourPercentConvertibleNotesDue2024Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-05-182021-05-180001309402gpre:ConvertibleNotes4.125Due2022Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2021-01-012021-06-300001309402gpre:ConvertibleNotes4.125Due2022Memberus-gaap:ConvertibleNotesPayableMemberus-gaap:CorporateMember2016-08-012016-08-310001309402gpre:CreditFacilityMembergpre:PartnershipSegmentMember2021-06-300001309402srt:MinimumMembergpre:CreditFacilityMembergpre:PartnershipSegmentMember2021-06-3000013094022020-03-272020-03-2700013094022020-03-262020-03-2600013094022021-06-3000013094022020-12-310001309402gpre:GreenPlainsGrainMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:GreenPlainsTradeMemberus-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMember2021-01-012021-06-300001309402gpre:AircraftLeaseMembersrt:BoardOfDirectorsChairmanMember2021-01-012021-06-300001309402us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-3100013094022021-07-2900013094022021-01-012021-06-30iso4217:USDutr:galgpre:itemgpre:contractiso4217:USDxbrli:sharesxbrli:pureiso4217:USDxbrli:shares

         

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________

FORM 10-Q

Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

For the Quarterly Period Ended June 30, 2021

Commission File Number 001-32924

Green Plains Inc.

(Exact name of registrant as specified in its charter)

Iowa

84-1652107

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

1811 Aksarben Drive, Omaha, NE 68106

(402) 884-8700

(Address of principal executive offices, including zip code)

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.001 per share

GPRE

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

x Yes o No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

x Yes o No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

    

Large accelerated filer o

Accelerated filer x

Non-accelerated filer o

Smaller reporting company o

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

o Yes x No

The number of shares of common stock, par value $0.001 per share, outstanding as of July 29, 2021, was 48,187,210 shares.


TABLE OF CONTENTS

Page

Commonly Used Defined Terms

2

PART I – FINANCIAL INFORMATION

Item 1.

Financial Statements

3

Consolidated Balance Sheets

3

Consolidated Statements of Operations

4

Consolidated Statements of Comprehensive Income

5

Consolidated Statements of Cash Flows

6

Notes to Consolidated Financial Statements

8

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations 

36

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

53

Item 4.

Controls and Procedures

54

PART II – OTHER INFORMATION

Item 1.

Legal Proceedings

56

Item 1A.

Risk Factors

56

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

59

Item 3.

Defaults Upon Senior Securities

59

Item 4.

Mine Safety Disclosures

59

Item 5.

Other Information

59

 

Item 6.

Exhibits

60

Signatures

61

1


Commonly Used Defined Terms

Green Plains Inc. and Subsidiaries:

Green Plains; the company

Green Plains Inc. and its subsidiaries

BioProcess Algae

BioProcess Algae LLC

FQT

Fluid Quip Technologies, LLC

Green Plains Cattle; GPCC

Green Plains Cattle Company LLC

Green Plains Commodity Management

Green Plains Commodity Management LLC

Green Plains Grain

Green Plains Grain Company LLC

Green Plains Mount Vernon; Mount Vernon

Green Plains Mount Vernon LLC

Green Plains Obion; Obion

Green Plains Obion LLC

Green Plains Partners; the partnership

Green Plains Partners LP

Green Plains Shenandoah; Shenandoah

Green Plains Shenandoah LLC

Green Plains Trade

Green Plains Trade Group LLC

Green Plains Wood River; Wood River

Green Plains Wood River LLC

Accounting Defined Terms:

ASC

Accounting Standards Codification

EBITDA

Earnings before interest, income taxes, depreciation and amortization

EPS

Earnings per share

Exchange Act

Securities Exchange Act of 1934, as amended

GAAP

U.S. Generally Accepted Accounting Principles

LIBOR

London Interbank Offered Rate

SEC

Securities and Exchange Commission

Industry and Other Defined Terms:

CAFE

Corporate Average Fuel Economy

CARB

California Air Resources Board

the CARES Act

Coronavirus Aid, Relief, and Economic Security Act

COVID-19

Coronavirus Disease 2019

CST

Clean Sugar Technology

DOE

Department of Energy

E10

Gasoline blended with up to 10% ethanol by volume

E15

Gasoline blended with up to 15% ethanol by volume

E85

Gasoline blended with up to 85% ethanol by volume

EIA

U.S. Energy Information Administration

EPA

U.S. Environmental Protection Agency

GNS

Grain Neutral Spirits

MmBtu

Million British Thermal Units

Mmg

Million gallons

MTBE

Methyl tertiary-butyl ether

MVC

Minimum volume commitment

RFS II

Renewable Fuels Standard II

RIN

Renewable identification number

RVO

Renewable volume obligation

SRE

Small refinery exemption

U.S.

United States

USDA

U.S. Department of Agriculture


2


PART 1 – FINANCIAL INFORMATION

Item 1. Financial Statements.

GREEN PLAINS INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share amounts)

June 30,
2021

December 31,
2020

(unaudited)

ASSETS

Current assets

Cash and cash equivalents

$

496,932 

$

233,860 

Restricted cash

118,441 

40,950 

Accounts receivable, net of allowances of $334 and $143, respectively

80,298 

55,568 

Income taxes receivable

1,087 

661 

Inventories

275,001 

269,491 

Prepaid expenses and other

16,450 

16,531 

Derivative financial instruments

41,701 

25,292 

Total current assets

1,029,910 

642,353 

Property and equipment, net of accumulated depreciation
and amortization of $535,972 and $530,194, respectively

808,221 

801,690 

Operating lease right-of-use assets

65,808 

61,883 

Other assets

89,015 

72,991 

Total assets

$

1,992,954 

$

1,578,917 

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

Accounts payable

$

102,404 

$

140,058 

Accrued and other liabilities

56,576 

38,471 

Derivative financial instruments

18,577 

20,265 

Operating lease current liabilities

16,686 

14,902 

Short-term notes payable and other borrowings

174,008 

140,808 

Current maturities of long-term debt

2,376 

98,052 

Total current liabilities

370,627 

452,556 

Long-term debt

538,619 

287,299 

Operating lease long-term liabilities

51,843 

49,549 

Other liabilities

26,635 

12,849 

Total liabilities

987,724 

802,253 

Commitments and contingencies (Note 13)

 

 

Stockholders' equity

Common stock, $0.001 par value; 75,000,000 shares authorized;
56,432,808 and 47,470,505 shares issued, and 48,188,352
and 35,657,344 shares outstanding, respectively

60 

47 

Additional paid-in capital

900,952 

740,889 

Retained earnings

53,991 

39,375 

Accumulated other comprehensive income (loss)

694 

(2,172)

Treasury stock, 8,244,456 and 11,813,161 shares, respectively

(91,626)

(131,287)

Total Green Plains stockholders' equity

864,071 

646,852 

Noncontrolling interests

141,159 

129,812 

Total stockholders' equity

1,005,230 

776,664 

Total liabilities and stockholders' equity

$

1,992,954 

$

1,578,917 

See accompanying notes to the consolidated financial statements.

3


GREEN PLAINS INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited and in thousands, except per share amounts)

Three Months Ended
June 30,

Six Months Ended
June 30,

2021

2020

2021

2020

Revenues

Product revenues

$

721,786

$

386,640

$

1,273,766

$

1,018,221

Service revenues

2,632

1,384

4,292

2,672

Total revenues

724,418

388,024

1,278,058

1,020,893

Costs and expenses

Cost of goods sold (excluding depreciation and amortization expenses reflected below)

639,408

360,896

1,148,641

978,124

Operations and maintenance expenses

6,237

6,603

11,991

12,763

Selling, general and administrative expenses

23,383

20,518

46,901

42,156

Loss (gain) on sale of assets, net

3,825

-

(33,068)

-

Goodwill impairment

-

-

-

24,091

Depreciation and amortization expenses

20,532

19,375

41,213

37,455

Total costs and expenses

693,385

407,392

1,215,678

1,094,589

Operating income (loss)

31,033

(19,368)

62,380

(73,696)

Other income (expense)

Interest income

441

47

471

640

Interest expense

(19,058)

(9,670)

(50,737)

(19,367)

Other, net

(1,250)

14

(1,240)

850

Total other expense

(19,867)

(9,609)

(51,506)

(17,877)

Income (loss) before income taxes and income from equity method investees

11,166

(28,977)

10,874

(91,573)

Income tax benefit

4,783

11,458

2,921

55,741

Income from equity method investees, net of income taxes

168

12,045

343

20,011

Net income (loss)

16,117

(5,474)

14,138

(15,821)

Net income attributable to noncontrolling interests

6,374

2,740

10,940

8,838

Net income (loss) attributable to Green Plains

$

9,743

$

(8,214)

$

3,198

$

(24,659)

Earnings per share:

Net income (loss) attributable to Green Plains - basic

$

0.21

$

(0.24)

$

0.08

$

(0.71)

Net income (loss) attributable to Green Plains - diluted

$

0.20

$

(0.24)

$

0.07

$

(0.71)

Weighted average shares outstanding:

Basic

45,425

34,603

41,581

34,634

Diluted

58,171

34,603

42,675

34,634

See accompanying notes to the consolidated financial statements.


4<