Andersons, Inc. (ANDE) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Ethanol					747.0	711.3	544.6	556.2
Plant Nutrient	1,099.3	866.9	663.0	646.7	690.5	651.8	725.2	848.3
Rail					174.2	172.1	163.7	170.8
Inter-Segments						2.2	3.5	5.4
Other	1,937.5	1,344.6	816.7	697.6		2,148.9	2,487.9	2,617.7
Total revenues	3,036.9	2,211.5	1,479.7	1,344.4	898.9	3,686.3	3,924.8	4,198.5
Revenue growth [+]	37.3%	49.5%	10.1%	49.6%	-75.6%	-6.1%	-6.5%	-7.5%
Ethanol					5.0%	30.6%	-2.1%	-27.4%
Plant Nutrient	26.8%	30.8%	2.5%	-6.3%	5.9%	-10.1%	-14.5%	5.7%
Rail					1.2%	5.2%	-4.2%	14.7%
Inter-Segments						-36.8%	-35.6%
Cost of goods sold	16,641.2	12,019.4	7,698.4	7,542.5	2,743.4	3,367.5	3,579.3	3,822.7
Gross profit	-13,604.4	-9,807.8	-6,218.7	-6,198.1	-1,844.5	318.8	345.5	375.8
Gross margin	-448.0%	-443.5%	-420.3%	-461.0%	-205.2%	8.6%	8.8%	9.0%
Selling, general and administrative	466.6	432.1	377.7	450.9	264.1	287.0	316.1	337.8
Equity in earnings				7.4	-27.1	16.7	9.7	31.9
Other operating expenses	-14,288.5	-10,400.5	-6,584.9	-6,720.6	-2,207.1	43.1	20.8	91.6
EBITDA [+]	352.4	339.6	177.1	225.1	161.6	91.8	102.6	56.8
EBITDA growth	3.8%	91.7%	-21.3%	39.3%	76.0%	-10.5%	80.7%	-71.1%
EBITDA margin	11.6%	15.4%	12.0%	16.7%	18.0%	2.5%	2.6%	1.4%
Depreciation and amortization	134.7	178.9	188.6	146.2	90.3	86.4	84.3	78.5
EBIT [+]	217.6	160.6	-11.5	78.9	71.3	5.4	18.3	-21.7
EBIT growth	35.5%	-1497.0%	-114.6%	10.7%	1221.1%	-70.5%	-184.5%	-116.1%
EBIT margin	7.2%	7.3%	-0.8%	5.9%	7.9%	0.1%	0.5%	-0.5%
Non-recurring items [+]				41.2	6.3	70.0	9.1	56.5
Asset impairment				41.2	6.3	70.0	9.1	56.5
Interest expense, net [+]	56.8	37.3	33.8	43.2	27.8	-21.6	21.4	19.3
Interest expense	56.8	37.3	33.8	43.2	27.8		21.4	19.3
Interest income						21.6
Other income (expense), net	33.8	37.4	18.2	18.5	16.0	22.5	33.6	85.8
Pre-tax income	194.6	160.8	-27.1	13.0	53.2	-20.5	21.4	-11.6
Income taxes	39.6	29.2	-10.9	9.1	11.9	-63.1	6.9	-0.2
Tax rate	20.4%	18.2%	40.3%	70.2%	22.4%	307.6%	32.3%	2.1%
Minority interest	35.9	31.9	-21.9	-3.2	-0.3	0.1	2.9	1.7
Earnings from continuing ops	119.1	99.7	-10.4	7.1	41.5	42.5	11.6	-13.1
Earnings from discontinued ops	12.0	4.3	2.0	11.2
Net income	131.1	104.0	-8.5	18.3	41.5	42.5	11.6	-13.1
Net margin	4.3%	4.7%	-0.6%	1.4%	4.6%	1.2%	0.3%	-0.3%

Basic EPS [+]	$3.53	$2.99	($0.32)	$0.22	$1.47	$1.51	$0.41	($0.46)
Growth	17.9%	-1046.5%	-244.7%	-85.1%	-2.9%	267.5%	-189.0%	-111.9%
Diluted EPS [+]	$3.46	$2.94	($0.31)	$0.22	$1.46	$1.50	$0.41	($0.46)
Growth	17.5%	-1037.9%	-245.8%	-85.2%	-3.0%	268.4%	-188.3%	-112.0%

Dividends per share [+]	$0.73	$0.71	$0.70	$0.69	$0.67	$0.65	$0.63	$0.58
Growth	2.8%	0.7%	2.2%	3.0%	3.1%	3.2%	8.7%	22.3%

Shares outstanding (basic) [+]	33.7	33.3	32.9	32.6	28.3	28.1	28.2	28.3
Growth	1.4%	1.1%	1.1%	15.3%	0.5%	-0.2%	-0.3%	-0.3%
Shares outstanding (diluted) [+]	34.4	33.9	33.2	33.1	28.5	28.3	28.4	28.3
Growth	1.7%	2.0%	0.3%	16.3%	0.6%	-0.5%	0.5%	-0.6%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.