2023 Q1 Form 10-K Financial Statement

#000182646623000006 Filed on March 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $31.28M $24.70M $107.4M
YoY Change 3.24% 22.44% 19.92%
Cost Of Revenue $31.30M $24.70M $107.5M
YoY Change 3.23% 22.43% 19.92%
Gross Profit -$14.00K $6.000K -$42.00K
YoY Change -6.67% 50.0% 5.0%
Gross Profit Margin -0.04% 0.02% -0.04%
Selling, General & Admin $210.0K $116.0K $537.0K
YoY Change 3.96% 8.41% 10.72%
% of Gross Profit 1933.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $210.0K $116.0K $537.0K
YoY Change 3.96% 8.41% 10.72%
Operating Profit $1.381M -$110.0K $6.172M
YoY Change -736.41% 6.8% -1275.62%
Interest Expense $1.697M $1.876M $7.259M
YoY Change -39.89% -19.0% -15.15%
% of Operating Profit 122.88% 117.61%
Other Income/Expense, Net
YoY Change
Pretax Income $1.473M $1.766M $6.680M
YoY Change -43.48% -20.2% -16.81%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $1.473M $1.766M $6.680M
YoY Change -43.48% -20.2% -16.81%
Net Earnings / Revenue 4.71% 7.15% 6.22%
Basic Earnings Per Share $0.10 $0.43
Diluted Earnings Per Share $0.10 $0.11 $0.43
COMMON SHARES
Basic Shares Outstanding 15.49M shares 15.49M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.468M $6.866M $6.866M
YoY Change -17.16% 16.67% 16.67%
Cash & Equivalents $1.421M $2.146M $2.146M
Short-Term Investments $5.047M $4.720M $4.720M
Other Short-Term Assets $95.00K $308.0K $308.0K
YoY Change 227.59% 20.78% 20.78%
Inventory
Prepaid Expenses
Receivables $223.0K
Other Receivables
Total Short-Term Assets $6.563M $7.174M $7.174M
YoY Change -16.26% 16.84% 16.84%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $18.01M $18.33M $20.69M
YoY Change -11.49% -11.87% -5.17%
Other Assets
YoY Change
Total Long-Term Assets $20.10M $20.69M $20.69M
YoY Change -1.22% -5.17% -5.17%
TOTAL ASSETS
Total Short-Term Assets $6.563M $7.174M $7.174M
Total Long-Term Assets $20.10M $20.69M $20.69M
Total Assets $26.66M $27.86M $27.86M
YoY Change -5.4% -0.33% -0.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00
YoY Change -100.0%
Accrued Expenses $7.000K $205.0K $205.0K
YoY Change 600.0% 0.49% 0.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.000K $205.0K $205.0K
YoY Change 600.0% 0.0% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.000K $205.0K $205.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $7.000K $205.0K $205.0K
YoY Change 600.0% 0.0% 0.0%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.65M $27.65M $27.65M
YoY Change
Total Liabilities & Shareholders Equity $26.66M $27.86M $27.86M
YoY Change -5.4% -0.33% -0.33%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $1.473M $1.766M $6.680M
YoY Change -43.48% -20.2% -16.81%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$118.0K -$36.00K -$410.0K
YoY Change -29.76% -50.68% 6.77%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $1.871M $1.485M $7.467M
YoY Change -61.29% 194.64% 66.93%
Cash From Investing Activities $1.871M $1.485M $7.467M
YoY Change -61.29% 194.64% 66.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.478M -2.167M -$6.506M
YoY Change 14.25% 7.6% 7.7%
NET CHANGE
Cash From Operating Activities -$118.0K -36.00K -$410.0K
Cash From Investing Activities $1.871M 1.485M $7.467M
Cash From Financing Activities -$2.478M -2.167M -$6.506M
Net Change In Cash -$725.0K -718.0K $551.0K
YoY Change -129.03% -54.64% -128.23%
FREE CASH FLOW
Cash From Operating Activities -$118.0K -$36.00K -$410.0K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_805_eus-gaap--NatureOfOperations_z6FLUItjooI3" style="text-align: justify"><b>NOTE 1 </b><b>—</b><b> <span id="xdx_823_zIvyg15JskMc">NATURE OF OPERATIONS</span></b> </p> <p style="text-align: justify"><i>Organization</i> - Golden Growers Cooperative was initially organized as a North Dakota member-owned cooperative incorporated on January 19, 1994 (“GG-ND”). GG-ND and two other partners, one of whom was American Crystal Sugar Company (“ACSC”) entered into a joint venture that formed ProGold Limited Liability Company, a Minnesota limited liability company (“ProGold”) which designed and constructed a corn wet-milling facility in Wahpeton, North Dakota (the “Facility”). Effective March 1, 2022, Cargill exercised its Option to purchase a <span id="xdx_903_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_c20220301_zxB4dUA9a5Si" title="Ownership Percentage Purchased by Cargill">50%</span> interest in ProGold from American Crystal Sugar. Simultaneously with the exercise of the Option, the Cooperative, pursuant to the Consent Agreement, elected to purchase American Crystal’s remaining <span id="xdx_904_eus-gaap--VariableInterestEntityOwnershipPercentage_c20220301__20220301_zpiB3bAEvAa7" title="Percentage of Remaining Ownership Acquired By Cooperative">1%</span> interest in ProGold. Under the joint venture, GG-ND (and indirectly its members) had the right and obligation to deliver corn to be processed at the Facility. In 1997, the Facility was leased to Cargill Incorporated (“Cargill”) who continues to operate the Facility. In connection with the Option exercise, ProGold and Cargill entered into that certain First Amended and Second Amended and Restated Facility lease, effective March 1, 2022, which extended the term of the Facility Lease through December 31, 2026.</p> <p style="text-align: justify">On July 29, 2009 GG-ND formed a wholly owned cooperative subsidiary in the state of Minnesota (GG-MN), organized under Minnesota Statutes chapter 308A, solely for the purpose of reincorporating into the state of Minnesota. On September 1, 2009, GG-ND merged into GG-MN and reincorporated into the state of Minnesota. Immediately after the merger, GG-MN statutorily converted into a cooperative association governed under Minnesota Statutes 308B. As a result of its reincorporation and reorganization Golden Growers — North Dakota, a North Dakota cooperative association historically taxed as a tax-exempt cooperative under Subchapter T of the Internal Revenue Code, became Golden Growers Cooperative, a Minnesota cooperative association governed by Minnesota Statutes chapter 308B as a cooperative for state law purposes but taxed as a partnership under Subchapter K of the Internal Review Code for tax purposes. Golden Growers Cooperative succeeded to the business of Golden Growers — North Dakota and except for changes to the structure and operations as a result of the reincorporation and statutory conversion, continues to operate the business of Golden Growers — North Dakota. </p> <p style="text-align: justify">As part of the Conversion, GG-ND’s members exchanged their shares of Class A Common Voting Membership Stock and Class B Non-Voting Equity Stock for identical and equal shares of such stock in GG-MN. Each member’s single share of Class A Common Voting Membership Stock was redeemed for <span id="xdx_906_ecustom--ClassACommonVotingMembershipStockRedemptionPricePerShare_c20090901__20090901_zVUnfnELJM11" title="Redemption price of Class A Common Voting Membership Stock">$150 </span>and each member received membership units in GG-MN equal to the number of shares of Class B Non-Voting Equity Stock each member held in GG-ND prior to the Merger. </p> <p style="text-align: justify">Prior to September 1, 2009, ownership of membership stock, which signified membership in the Cooperative, was restricted to producers of agricultural products. The ownership of equity stock was restricted to members of the Cooperative. Preferred stock could be held by persons who were not members of the Cooperative. At August 31, 2009 and 2008, the Cooperative had <span id="xdx_907_eus-gaap--PreferredStockSharesAuthorized_iI_c20080831_zw7MJ4q9pD5c"><span id="xdx_90C_eus-gaap--PreferredStockSharesAuthorized_iI_c20090831_zdbnZHp1SEyc" title="Non-voting Preferred Stock, Authorized (in shares)">10,000</span></span> shares of non-voting, <span id="xdx_905_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20080831_zerqRbKagwc1"><span id="xdx_908_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20090831_ztiAYMi0nKH6" title="Non-voting Preferred Stock, Authorized, Par Value (in dollars per share)">$1,000</span></span> par-value preferred stock authorized, of which <span id="xdx_904_eus-gaap--PreferredStockSharesIssued_iI_dn_c20080831_zn7gBoZ7WeS6" title="Non-voting preferred stock, issued (in shares)"><span id="xdx_905_eus-gaap--PreferredStockSharesIssued_iI_dn_c20090831_z74sYHz5vcf5" title="Non-voting preferred stock, issued (in shares)"><span id="xdx_906_eus-gaap--PreferredStockSharesOutstanding_iI_dn_c20080831_zXjJveVH3ch4" title="Non-voting preferred stock, outstanding (in shares)"><span id="xdx_907_eus-gaap--PreferredStockSharesOutstanding_iI_dn_c20090831_z9xNvIfyuhz9" title="Non-voting preferred stock, outstanding (in shares)">none</span></span></span></span> were issued or outstanding. Equity requirements, as determined by the board of directors, could be retained from amounts due to patrons and credited to members’ equity in the form of unit retains or allocated patronage. </p> <p style="text-align: justify">The Cooperative reserved the right to acquire any of its stock offered for sale and the right to recall the stock of any member. In the event this right was exercised, the consideration paid for such stock was <span id="xdx_90E_ecustom--ConsiderationPaidForRecalledSharesAsPercentageOfBookValueOfStock_c20090831__20090831_zJEr9pLAaSvl" title="Percentage of book value of stock, paid as a consideration, in the event of right to recall stock of any member was exercised">25%</span> of its book value. </p> <p style="text-align: justify">Beginning September 1, 2009, ownership of membership units is available to any person or entity residing in the United States of America. Net proceeds or losses will be allocated to members on the basis of their patronage of the Cooperative. </p> <p style="text-align: justify">In connection with the Conversion, the Cooperative changed its fiscal year end to December 31. </p>
CY2022Q1 us-gaap Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
0.50 pure
CY2022Q1 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.01 pure
CY2009Q3 ggro Class A Common Voting Membership Stock Redemption Price Per Share
ClassACommonVotingMembershipStockRedemptionPricePerShare
150
CY2008Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000 shares
CY2009Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000 shares
CY2008Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1000
CY2009Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1000
CY2008Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2009Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2008Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2009Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2009Q3 ggro Consideration Paid For Recalled Shares As Percentage Of Book Value Of Stock
ConsiderationPaidForRecalledSharesAsPercentageOfBookValueOfStock
0.25 pure
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zZvmpDwUBsad" style="text-align: justify"><i><span id="xdx_86F_zovI5ulifNQg">Accounting Estimates</span></i> — The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p>
CY2022 ggro Annual Fee Paid For Corn Delivery
AnnualFeePaidForCornDelivery
60000 usd
CY2022 ggro Number Of Installments
NumberOfInstallments
4 installment
CY2022 ggro Incentive Payment Per Bushel To Members On Delivery Of Corn Under Method A
IncentivePaymentPerBushelToMembersOnDeliveryOfCornUnderMethodA
0.05
CY2022 ggro Payment Per Bushel For Corn Delivered Using Method B
PaymentPerBushelForCornDeliveredUsingMethodB
0.02
CY2022 ggro Incentive Payment Per Bushel To Members On Delivery Of Corn Under Method A Next Fiscal Year
IncentivePaymentPerBushelToMembersOnDeliveryOfCornUnderMethodANextFiscalYear
0.10
CY2022 ggro Equity Method Investment Expenses
EquityMethodInvestmentExpenses
3919000 usd
CY2021 ggro Equity Method Investment Expenses
EquityMethodInvestmentExpenses
3865000 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zvECEyki7UF3" style="text-align: justify"><i><span id="xdx_868_zWZ6GhqA0lRa">Concentrations</span> - </i>Several times during the year, the Cooperative maintained a cash balance in excess of the Federal Deposit Insurance Corporation (“FDIC”) limits. At December 31, 2022, the Cooperative’s cash balance exceeded the FDIC insurance limits by approximately<span id="xdx_90D_eus-gaap--CashUninsuredAmount_iI_pid_dxL_c20221231_zod0nCSjv6v1" title="Cash Balance In Excess of FDIC Insurance Limits::XDX::1900000"> <span style="-sec-ix-hidden: xdx2ixbrl0348">$1.9</span></span> million. </p>
CY2021Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.49 pure
CY2020Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.49 pure
CY2022Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.50 pure
CY2022Q4 ggro Equity Method Investment Current Assets
EquityMethodInvestmentCurrentAssets
223000 usd
CY2021Q4 ggro Equity Method Investment Current Assets
EquityMethodInvestmentCurrentAssets
4873000 usd
CY2020Q4 ggro Equity Method Investment Current Assets
EquityMethodInvestmentCurrentAssets
216000 usd
CY2022Q4 ggro Equity Method Investment Long Term Assets
EquityMethodInvestmentLongTermAssets
36475000 usd
CY2021Q4 ggro Equity Method Investment Long Term Assets
EquityMethodInvestmentLongTermAssets
43320000 usd
CY2020Q4 ggro Equity Method Investment Long Term Assets
EquityMethodInvestmentLongTermAssets
39700000 usd
CY2022Q4 ggro Equity Method Investment Total Assets
EquityMethodInvestmentTotalAssets
36698000 usd
CY2021Q4 ggro Equity Method Investment Total Assets
EquityMethodInvestmentTotalAssets
48193000 usd
CY2020Q4 ggro Equity Method Investment Total Assets
EquityMethodInvestmentTotalAssets
39916000 usd
CY2022Q4 ggro Equity Method Investment Current Liabilities
EquityMethodInvestmentCurrentLiabilities
31000 usd
CY2021Q4 ggro Equity Method Investment Current Liabilities
EquityMethodInvestmentCurrentLiabilities
3903000 usd
CY2020Q4 ggro Equity Method Investment Current Liabilities
EquityMethodInvestmentCurrentLiabilities
3106000 usd
CY2021Q4 ggro Equity Method Investment Long Term Liabilities
EquityMethodInvestmentLongTermLiabilities
1833000 usd
CY2020Q4 ggro Equity Method Investment Long Term Liabilities
EquityMethodInvestmentLongTermLiabilities
2167000 usd
CY2022Q4 ggro Equity Method Investment Total Liabilities
EquityMethodInvestmentTotalLiabilities
31000 usd
CY2021Q4 ggro Equity Method Investment Total Liabilities
EquityMethodInvestmentTotalLiabilities
5736000 usd
CY2020Q4 ggro Equity Method Investment Total Liabilities
EquityMethodInvestmentTotalLiabilities
5273000 usd
CY2022Q4 ggro Equity Method Investment Members Equity
EquityMethodInvestmentMembersEquity
36667000 usd
CY2021Q4 ggro Equity Method Investment Members Equity
EquityMethodInvestmentMembersEquity
42457000 usd
CY2020Q4 ggro Equity Method Investment Members Equity
EquityMethodInvestmentMembersEquity
34643000 usd
CY2022Q4 ggro Equity Method Investment Total Liabilities And Members Equity
EquityMethodInvestmentTotalLiabilitiesAndMembersEquity
36698000 usd
CY2021Q4 ggro Equity Method Investment Total Liabilities And Members Equity
EquityMethodInvestmentTotalLiabilitiesAndMembersEquity
48193000 usd
CY2020Q4 ggro Equity Method Investment Total Liabilities And Members Equity
EquityMethodInvestmentTotalLiabilitiesAndMembersEquity
39916000 usd
CY2022 ggro Equity Method Investment Rent Revenue On Operating Lease
EquityMethodInvestmentRentRevenueOnOperatingLease
17468000 usd
CY2021 ggro Equity Method Investment Rent Revenue On Operating Lease
EquityMethodInvestmentRentRevenueOnOperatingLease
21045000 usd
CY2020 ggro Equity Method Investment Rent Revenue On Operating Lease
EquityMethodInvestmentRentRevenueOnOperatingLease
16293000 usd
CY2020 ggro Equity Method Investment Expenses
EquityMethodInvestmentExpenses
4179000 usd
CY2022 ggro Equity Method Investment Net Income Loss
EquityMethodInvestmentNetIncomeLoss
13549000 usd
CY2021 ggro Equity Method Investment Net Income Loss
EquityMethodInvestmentNetIncomeLoss
17180000 usd
CY2020 ggro Equity Method Investment Net Income Loss
EquityMethodInvestmentNetIncomeLoss
12114000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
6989000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
5294000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
7339000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Cumulative Unrecognized Gain
DebtSecuritiesAvailableForSaleAndHeldToMaturityCumulativeUnrecognizedGain
1000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
6989000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
5299000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Cumulative Unrecognized Gain
DebtSecuritiesAvailableForSaleAndHeldToMaturityCumulativeUnrecognizedGain
41000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
5294000 usd
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount
2191000 usd
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue
2171000 usd
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount
1741000 usd
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
1703000 usd
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount
612000 usd
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
587000 usd
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Amortized Cost Basis
HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
4544000 usd
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Fair Value
HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateFairValue
4461000 usd
CY2022 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
-151000 usd
CY2021 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
30000 usd
CY2022 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
55000 usd
CY2021 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
55000 usd
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
3612000 usd
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
2735000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2021Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Pension Expense
PensionExpense
0 usd
CY2021 us-gaap Pension Expense
PensionExpense
0 usd
CY2020 us-gaap Pension Expense
PensionExpense
1000 usd
CY2022Q4 us-gaap Defined Benefit Plan Plan Assets Target Allocation Percentage
DefinedBenefitPlanPlanAssetsTargetAllocationPercentage
0.50 pure
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0450 pure
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0350 pure
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.0291 pure
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.0507 pure
CY2022Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
704000 usd
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
910000 usd
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
51000 usd
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
49000 usd
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
49000 usd
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
49000 usd
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
49000 usd
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
237000 usd
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Remainder Of Fiscal Year
DefinedBenefitPlanExpectedFutureBenefitPaymentsRemainderOfFiscalYear
484000 usd
CY2022 ggro Defined Benefit Plan Net Periodic Benefit Cost Credit Interest Cost Statement Of Income Or Comprehensive Income
DefinedBenefitPlanNetPeriodicBenefitCostCreditInterestCostStatementOfIncomeOrComprehensiveIncome
27000 usd
CY2021 ggro Defined Benefit Plan Net Periodic Benefit Cost Credit Interest Cost Statement Of Income Or Comprehensive Income
DefinedBenefitPlanNetPeriodicBenefitCostCreditInterestCostStatementOfIncomeOrComprehensiveIncome
24000 usd
CY2020 ggro Defined Benefit Plan Net Periodic Benefit Cost Credit Interest Cost Statement Of Income Or Comprehensive Income
DefinedBenefitPlanNetPeriodicBenefitCostCreditInterestCostStatementOfIncomeOrComprehensiveIncome
25000 usd
CY2022 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
-19000 usd
CY2021 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
-38000 usd
CY2020 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
-46000 usd
CY2022 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
2000 usd
CY2022 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
10000 usd
CY2021 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-14000 usd
CY2020 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-21000 usd
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
718000 usd
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
752000 usd
CY2022 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
24000 usd
CY2021 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
25000 usd
CY2022 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-51000 usd
CY2021 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-4000 usd
CY2022 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
55000 usd
CY2021 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
55000 usd
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
636000 usd
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
718000 usd
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
910000 usd
CY2020Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
935000 usd
CY2022Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
68000 usd
CY2021Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
193000 usd
CY2022 us-gaap Multiemployer Plan Employer Contribution Cost
MultiemployerPlanEmployerContributionCost
7325 usd
CY2021 us-gaap Multiemployer Plan Employer Contribution Cost
MultiemployerPlanEmployerContributionCost
6959 usd
CY2020 us-gaap Multiemployer Plan Employer Contribution Cost
MultiemployerPlanEmployerContributionCost
6829 usd
CY2022 ggro Annual Payments For Procurement Of Corn And Other Agency Services
AnnualPaymentsForProcurementOfCornAndOtherAgencyServices
60000 usd
CY2022 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Ownership Structure
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPOwnershipStructure
If a joint venture agreement is agreed to, the Cooperative will reimburse Cargill for 50% of the undepreciated capital expense associated with approved projects.
CY2022 us-gaap Equity Method Investment Material Effects Of Possible Conversions Exercises Or Contingent Issuances
EquityMethodInvestmentMaterialEffectsOfPossibleConversionsExercisesOrContingentIssuances
If the Cooperative and Cargill are unable to agree on terms for a joint venture agreement, Cargill agrees to purchase the Cooperative’s 50% interest in ProGold for $81 million and half of any remaining lease payments due through December 31, 2026
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
2000000 usd
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
0 usd

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