2015 Annual Report
2015 Annual Report

Financial Highlights

Statement of Operations Data

Year Ended December 31,
(in thousands, except per share information) 2015 2014 2013 2012 2011
Revenues 2,965,589 3,235,611 3,041,011 3,476,870 3,553,712
Cost and expenses 2,904,512 2,949,337 2,933,160 3,459,118 3,454,699
Gain on disposal of assets(1) 47,133
Operating income 61,077 286,274 107,851 64,885 99,013
Total other expense 39,612 35,844 35,570 39,729 37,114
Net Income 15,228 159,504 43,391 11,763 38,213
Net income attributable to Green Plains 7,064 159,504 43,391 11,779 38,418
Earnings per share attributable to Green Plains:
Basic 0.19 4.37 1.44 0.39 1.09
Diluted 0.18 3.96 1.26 0.39 1.01

Other Data

EBITDA (unaudited)(2) 127,781 350,700 156,640 115,505 148,620

Balance Sheet Data

December 31,
(in thousands) 2015 2014 2013 2012 2011
Cash and cash equivalents 384,867 425,510 272,027 254,289 174,988
Current assets 912,577 910,910 633,305 568,035 576,420
Total assets 1,929,328 1,828,557 1,532,045 1,349,734 1,420,828
Current liabilities 438,669 511,540 409,197 432,384 360,965
Long-term debt 443,547 399,440 480,746 362,549 493,407
Total liabilities 970,419 1,031,108 986,687 859,232 915,471
Stockholders’ equity 958,909 797,449 545,358 490,502 505,357

(1)    In December 2012, we sold 12 grain elevators located in northwestern Iowa and western Tennessee consisting of approximately 32.6 million bushels of grain storage capacity and all of our agronomy and retail petroleum operations.

The following table reconciles net income to EBITDA for the periods indicated:

Year Ended December 31,
(in thousands, except per share information) 2015 2014 2013 2012 2011
Net Income 15,228 159,504 43,391 11,763 38,213
Interest expense 40,366 39,908 33,357 37,521 36,645
Income tax expense 6,237 90,926 28,890 13,393 23,686
Depreciation and amortization 65,950 62,139 50,854 52,828 50,076
EBITDA 127,781 352,477 156,492 115,505 148,620