绿色平原能源 2025年季度报告

☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the ☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐Yes☒No The registrant had65,399,452common stock outstanding as of May5, 2025. TABLE OF CONTENTS Commonly Used Defined Terms PART I – FINANCIAL INFORMATION Item 1.Financial Statements Consolidated Statements of Operations Consolidated Statements of Comprehensive Income (Loss)7Consolidated Statements of Cash Flows8Notes to Consolidated Financial Statements10Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations31Item 3.Quantitative and Qualitative Disclosures About Market Risk44Item 4.Controls and Procedures46 PART II – OTHER INFORMATION Item 1.Legal Proceedings47Item 1A.Risk Factors47 Signatures Commonly Used Defined Terms GREEN PLAINS INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 1.BASIS OF PRESENTATION, DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTINGPOLICIES References to the Company References to “Green Plains” or the “company” in the consolidated financial statements and in these notes to the consolidatedfinancial statements refer to Green Plains Inc., an Iowa corporation, and its subsidiaries. Consolidated Financial Statements The consolidated financial statements include the company’s accounts and all significant intercompany balances and transactions On January 9, 2024, the transactions contemplated by the Merger Agreement were completed and the company acquired all of thepublicly held common units of the partnership not already owned by the company and its affiliates. Refer toNote 3 - Acquisitionincluded herein for more information. The company also owns a majority interest in FQT, with their results being consolidated in our consolidated financial statements. The accompanying consolidated financial statements are prepared in accordance with GAAP for interim financial information andthe instructions to Form 10-Q and Article 10 of Regulation S-X. Because they do not include all of the information and footnotesrequired by GAAP for complete financial statements, the consolidated financial statements should be read in conjunction with the The unaudited financial information reflects adjustments, which are, in the opinion of management, necessary for a fairpresentation of results of operations, financial position and cash flows for the periods presented. The adjustments are normal and Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimatesand assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date ofthe consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The companybases its estimates on historical experience and assumptions it believes are proper and reasonable under the circumstances and Description of Business The company operates withintwooperating segments: (1) ethanol production, which includes the production, storage andtransportation of ethanol, distillers grains, Ultra-High Protein and renewable corn oil and (2) agribusiness and energy services, which Cash and Cash Equivalents Cash and cash equivalents includes bank deposits as well as short-term, highly liquid investments with original maturities of threemonths or less. Table ofContents Restricted Cash The company has restricted cash, which can only be used for funding letters of credit and for payment towards a credit agreement.Restricted cash also includes cash margins and securities pledged to commodity exchange clearinghouses. To the degree these Revenue Recognition The company recognizes revenue when obligations under the terms of a contract with a customer are satisfied. Generally thisoccurs with the transfer of control of products or services. Revenue is measured as the amount of consideration expected to be Sales of ethanol, distillers grains, Ultra-High Protein, renewable corn oil, natural g