| Stockholders' Equity |
STOCKHOLDERS’ EQUITY Green Plains Partners Merger As a result of the Merger, for the three months ended March 31, 2024, the company issued approximately 4.7 million shares of common stock and recorded par value $0.001 per share, paid cash consideration of $29.2 million, extinguished the non-controlling interest attributed to the partnership common units held by the public of $133.8 million, and capitalized transaction costs of $7.5 million, within additional paid-in capital. Refer to Note 3 - Acquisition included herein for more information. Components of stockholders’ equity for the three months ended March 31, 2024 and 2023 are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | Additional Paid-in Capital | Retained Deficit | Accumulated Other Comprehensive Loss | Treasury Stock | Total Green Plains Stockholders' Equity | Non- Controlling Interests | Total Stockholders' Equity | | Shares | Amount | Shares | Amount | | | | | | | | | | | | | Balance, December 31, 2023 | 62,327 | | $ | 62 | | $ | 1,113,806 | | $ | (235,801) | | $ | (3,160) | | 2,805 | | $ | (31,174) | | $ | 843,733 | | $ | 146,323 | | $ | 990,056 | | | Net loss | — | | — | | — | | (51,412) | | — | | — | | — | | (51,412) | | 290 | | (51,122) | | | | | | | | | | | | | | Other comprehensive loss before reclassification | — | | — | | — | | — | | (6,043) | | — | | — | | (6,043) | | — | | (6,043) | | | Amounts reclassified from accumulated other comprehensive loss | — | | — | | — | | — | | 5,305 | | — | | — | | 5,305 | | — | | 5,305 | | | Other comprehensive loss, net of tax | — | | — | | — | | — | | (738) | | — | | — | | (738) | | — | | (738) | | | Investment in subsidiaries | — | | — | | — | | — | | — | | — | | — | | — | | 166 | | 166 | | | Partnership Merger | 4,746 | | 5 | | 97,035 | | — | | — | | — | | — | | 97,040 | | (133,765) | | (36,725) | | | Stock-based compensation | 349 | | — | | (1,169) | | — | | — | | — | | — | | (1,169) | | — | | (1,169) | | | Balance, March 31, 2024 | 67,422 | | $ | 67 | | $ | 1,209,672 | | $ | (287,213) | | $ | (3,898) | | 2,805 | | $ | (31,174) | | $ | 887,454 | | $ | 13,014 | | $ | 900,468 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Stock | Additional Paid-in Capital | Retained Deficit | Accumulated Other Comprehensive Loss | Treasury Stock | Total Green Plains Stockholders' Equity | Non- Controlling Interests | Total Stockholders' Equity | | Shares | Amount | Shares | Amount | | | | | | | | | | | | | Balance, December 31, 2022 | 62,101 | | $ | 62 | | $ | 1,110,151 | | $ | (142,417) | | $ | (26,591) | | 2,805 | | $ | (31,174) | | $ | 910,031 | | $ | 151,035 | | $ | 1,061,066 | | | Net loss | — | | — | | — | | (70,324) | | — | | — | | — | | (70,324) | | 4,075 | | (66,249) | | | Cash dividends and distributions declared | — | | — | | — | | — | | — | | — | | — | | — | | (5,305) | | (5,305) | | | Other comprehensive loss before reclassification | — | | — | | — | | — | | (12,788) | | — | | — | | (12,788) | | — | | (12,788) | | | Amounts reclassified from accumulated other comprehensive loss | — | | — | | — | | — | | 1,701 | | — | | — | | 1,701 | | — | | 1,701 | | | Other comprehensive loss, net of tax | — | | — | | — | | — | | (11,087) | | — | | — | | (11,087) | | — | | (11,087) | | | Investment in subsidiaries | — | | — | | — | | — | | — | | — | | — | | — | | 185 | | 185 | | | Stock-based compensation | 217 | | — | | (5,632) | | — | | — | | — | | — | | (5,632) | | 59 | | (5,573) | | | Balance, March 31, 2023 | 62,318 | | $ | 62 | | $ | 1,104,519 | | $ | (212,741) | | $ | (37,678) | | 2,805 | | $ | (31,174) | | $ | 822,988 | | $ | 150,049 | | $ | 973,037 | |
Amounts reclassified from accumulated other comprehensive loss are as follows (in thousands): | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | Statements of Operations Classification | | 2024 | | 2023 | | | Gains (losses) on cash flow hedges | | | | | | | Commodity derivatives | $ | 3,736 | | | $ | — | | | (1) | | Commodity derivatives | (10,723) | | | (2,236) | | | (2) | | Total losses on cash flow hedges | (6,987) | | | (2,236) | | | (3) | | Income tax benefit | 1,682 | | | 535 | | | (4) | | Amounts reclassified from accumulated other comprehensive loss | $ | (5,305) | | | $ | (1,701) | | | |
(1)Revenues (2)Costs of goods sold (3)Loss before income taxes and income (loss) from equity method investees (4)Income tax benefit
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