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Segment Reporting
 6 Months Ended
Jul. 31, 2012
Segment Reporting Disclosure [Text Block]

Note 15. 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 July 31,

 

Six Months Ended July 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

Net sales and revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative energy

 

$

152,778

 

$

73,531

 

$

303,442

 

$

154,413

 

Real estate

 

 

386

 

 

265

 

 

736

 

 

546

 

 

 

 

 

 

 

Total net sales and revenues

 

$

153,164

 

$

73,796

 

$

304,178

 

$

154,959

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment gross profit (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative energy

 

$

7,027

 

$

952

 

$

12,537

 

$

5,730

 

Real estate

 

 

(233

)

 

(1,171

)

 

(277

)

 

(1,219

)

 

 

 

 

 

 

Total gross profit (loss)

 

$

6,794

 

$

(219

)

$

12,260

 

$

4,511

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment profit (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative energy

 

$

2,432

 

$

2,061

 

$

4,901

 

$

10,459

 

Real estate

 

 

(289

)

 

(1,218

)

 

(382

)

 

(1,331

)

Corporate expense

 

 

(623

)

 

(615

)

 

(1,136

)

 

(1,232

)

Interest expense

 

 

(21

)

 

(27

)

 

(45

)

 

(61

)

Income from synthetic fuel partnerships

 

 

—

 

 

2,883

 

 

—

 

 

2,883

 

Interest income

 

 

19

 

 

73

 

 

49

 

 

215

 

 

 

 

 

 

 

Income from continuing operations before income taxes and noncontrolling interests

 

$

1,518

 

$

3,157

 

$

3,387

 

$

10,933

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 31,
2012

 

January 31,
2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative energy

 

$

347,600

 

$

367,029

 

 

 

 

 

 

 

Real estate

 

 

14,911

 

 

17,458

 

 

 

 

 

 

 

Corporate

 

 

54,010

 

 

53,562

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

416,521

 

$

438,049

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended July 31,

 

Six Months Ended July 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

Sales of products alternative energy segment:

 

 

 

 

 

 

 

 

 

 

 

 

 

Ethanol

 

 

76

%

 

81

%

 

77

%

 

81

%

Distillers grains

 

 

21

%

 

19

%

 

20

%

 

19

%

Other

 

 

3

%

 

—

%

 

3

%

 

—

%

 

 

 

 

 

 

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 and NuGen, is considered to be fungible and available for both corporate and segment use depending on liquidity requirements. Cash of approximately $15.9 million held by One Earth and NuGen will be used primarily to fund working capital needs for the subsidiaries.