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Segment Reporting
 9 Months Ended
Oct. 31, 2011
Segment Reporting Disclosure [Text Block]

Note 17. Segment Reporting


          The Company has two segments: alternative energy and real estate. The Company evaluates the performance of each reportable segment based on segment profit. Segment profit excludes income taxes, indirect interest expense, discontinued operations, indirect interest income and certain other items that are included in net income determined in accordance with GAAP. Segment profit includes realized and unrealized gains on derivative financial instruments. The following table summarizes segment and other results and assets (amounts in thousands):


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
October 31,

 

Nine Months Ended
October 31,

 

 

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

Net sales and revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative energy

 

$

84,144

 

$

69,974

 

$

238,557

 

$

205,797

 

Real estate

 

 

380

 

 

282

 

 

926

 

 

729

 

 

 

 

 

 

 

Total net sales and revenues

 

$

84,524

 

$

70,256

 

$

239,483

 

$

206,526

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment gross profit (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative energy

 

$

8,965

 

$

7,155

 

$

14,694

 

$

20,951

 

Real estate

 

 

(1

)

 

(175

)

 

(1,389

)

 

(472

)

 

 

 

 

 

 

Total gross profit

 

$

8,964

 

$

6,980

 

$

13,305

 

$

20,479

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
October 31,

 

Nine Months Ended
October 31,

 

 

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

Segment profit (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative energy

 

$

12,394

 

$

7,929

 

$

22,827

 

$

18,599

 

Real estate

 

 

(47

)

 

(219

)

 

(1,538

)

 

(638

)

Corporate expense

 

 

(511

)

 

(605

)

 

(1,700

)

 

(2,099

)

Interest expense

 

 

(25

)

 

(73

)

 

(87

)

 

(205

)

Income from synthetic fuel partnerships

 

 

—

 

 

—

 

 

2,883

 

 

—

 

Interest income

 

 

74

 

 

86

 

 

289

 

 

355

 

 

 

 

 

 

 

Income from continuing operations before income taxes and noncontrolling interests

 

$

11,885

 

$

7,118

 

$

22,674

 

$

16,012

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

October 31,
2011

 

January 31,
2011

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

Alternative energy

 

$

263,062

 

$

257,202

 

Real estate

 

 

18,564

 

 

22,235

 

Corporate

 

 

75,001

 

 

96,285

 

 

 

 

 

Total assets

 

$

356,627

 

$

375,722

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

October 31,

 

October 31,

 

 

 

2011

 

2010

 

2011

 

2010

 

 

 

 

 

 

 

Sales of products alternative energy segment:

 

 

 

 

 

 

 

 

 

 

 

 

 

Ethanol

 

 

83

%

 

83

%

 

82

%

 

83

%

Distillers grains

 

 

17

%

 

17

%

 

18

%

 

17

%

 

 

 

 

 

 

Total

 

 

100

%

 

100

%

 

100

%

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales of services real estate segment:

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease revenue

 

 

100

%

 

100

%

 

100

%

 

100

%

 

 

 

 

 

 


          Certain corporate costs and expenses, including information technology, employee benefits and other shared services are allocated to the business segments. The allocations are generally amounts agreed upon by management and are based on a reasonable and systematic approach, which may differ from amounts that would be incurred if such services were purchased separately by the business segment. Corporate assets are primarily cash and deferred income tax benefits.


          Cash, except for cash held by One Earth, is considered to be fungible and available for both corporate and segment use dependent on liquidity requirements. Cash of approximately $19.8 million held by One Earth will be used to fund debt service, capital expenditure and working capital needs for that entity.