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INVESTMENTS AND DEPOSITS | 12 Months Ended
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Jan. 31, 2013
Investments And Deposits [Text Block] |
| 2. | INVESTMENTS AND DEPOSITS
The Company has $203,000 and $743,000 at January 31, 2013 and 2012, respectively, on deposit with the Florida Department of Financial Services to secure its obligation to fulfill future obligations related to extended warranty contracts sold in the state of Florida. In addition to the deposit with the Florida Department of Financial Services, the Company has $300,000 and $620,000 at January 31, 2013 and 2012, respectively, invested in a money market mutual fund to satisfy Florida Department of Financial Services regulations. The Company’s equity investments are accounted for under ASC 323 “Investments-Equity Method and Joint Ventures”. The following table summarizes equity method investments at January 31, 2013 and 2012 (amounts in thousands):
Entity |  | Ownership Percentage |  |  | Carrying Amount January 31, 2013 |  |  | Carrying Amount January 31, 2012 |
Big River Resources, LLC |  |  | 10 | % |  | $ | 32,438 |  |  | $ | 34,370 |
Patriot Holdings, LLC |  |  | 27 | % |  |  | 27,521 |  |  |  | 27,309 |
Total Equity Method Investments |  |  |  |  |  | $ | 59,959 |  |  | $ | 61,679 |
The Company invested $20 million in Big River, a holding company for several entities, for a 10% ownership interest. Big River Resources West Burlington, LLC, a wholly owned subsidiary of Big River, operates an ethanol manufacturing plant in West Burlington, Iowa. During fiscal year 2012, the plant shipped 96 million gallons of ethanol. The plant has been in operation since 2004. Big River Resources Galva, LLC, a wholly owned subsidiary of Big River, operates an ethanol manufacturing plant in Galva, Illinois. During fiscal year 2012, the plant shipped 104 million gallons of ethanol. The plant has been in operation since 2009. Big River Resources United Energy, LLC, a 50.5% owned subsidiary of Big River, operates an ethanol manufacturing plant in Dyersville, Iowa. During fiscal year 2012, the plant shipped 104 million gallons of ethanol. Big River acquired its interest in this plant in 2009. Big River Resources Boyceville, LLC, a wholly owned subsidiary of Big River operates an ethanol manufacturing plant in Boyceville, Wisconsin. During fiscal year 2012, the plant shipped 57 million gallons of ethanol. Big River acquired its interest in this plant in 2011. The Company recorded income of approximately $274,000, $6,931,000 and $5,387,000 as its share of earnings from Big River during fiscal years 2012, 2011 and 2010, respectively. The Company received dividends of approximately $2.2 million, $2.0 million and $1.6 million from Big River during fiscal years 2012, 2011 and 2010, respectively. At January 31, 2013, the carrying value of the investment in Big River is approximately $32.4 million; the amount of underlying equity in the net assets of Big River is approximately $30.9 million. The excess of the carrying value of the investment over the underlying equity in the net assets is accounted for as goodwill and is recorded within equity method investments on the accompanying Consolidated Balance Sheets. The Company invested $16 million in Patriot for a 27% ownership interest. Patriot operates an ethanol manufacturing plant in Annawan, Illinois. During fiscal year 2012, the plant shipped 118 million gallons of ethanol. The plant has been in operation since 2008. The Company recorded income of approximately $353,000, $5,274,000 and $5,159,000 as its share of earnings from Patriot during fiscal years 2012, 2011 and 2010, respectively. The Company received 0 dividends from Patriot during fiscal year 2012. The Company received dividends of approximately $1.6 million from Patriot during each of fiscal years 2011 and 2010. At January 31, 2013, the carrying value of the investment in Patriot is approximately $27.5 million; the amount of underlying equity in the net assets of Patriot is approximately $26.3 million. The excess of the carrying value of the investment over the underlying equity in the net assets is accounted for as goodwill and capitalized interest and is recorded within equity method investments on the accompanying Consolidated Balance Sheets. Capitalized interest is amortized as a basis difference over the life of the asset. Effective July 1, 2010, the Company purchased a 48% equity interest in NuGen which operates an ethanol producing facility in Marion, South Dakota. On November 1, 2011, the Company acquired an additional 50% equity interest in NuGen. Following the purchase, the Company owns all of the outstanding Class A membership interest units in NuGen, representing a 100% voting interest and a 99% equity interest in NuGen. The Company recorded income (under the equity method of accounting) of approximately $9,327,000 and $4,011,000 as its share of earnings from NuGen during fiscal years 2011 and 2010. Effective November 1, 2011, the Company ceased using the equity method of accounting and began consolidating the results of NuGen. Undistributed earnings of equity method investees totaled approximately $21.2 million and $22.8 million at January 31, 2013 and 2012, respectively. Summarized financial information for each of the Company’s equity method investees, as of their fiscal year end is presented in the following table (amounts in thousands):
As of December 31, 2012 |  |  |  |  |  |
|  | Patriot |  |  | Big River |
Current assets |  | $ | 22,302 |  |  | $ | 139,879 |
Non current assets |  |  | 161,319 |  |  |  | 375,803 |
Total assets |  | $ | 183,621 |  |  | $ | 515,682 |
Current liabilities |  | $ | 20,201 |  |  | $ | 90,865 |
Long-term liabilities |  |  | 65,867 |  |  |  | 87,301 |
Total liabilities |  | $ | 86,068 |  |  | $ | 178,166 |
Noncontrolling interests |  | $ | — |  |  | $ | 29,007 |
As of December 31, 2011 |  |  |  |  |  |  |  |
|  | Patriot |  |  | Big River |
Current assets |  | $ | 24,972 |  |  | $ | 139,858 |
Non current assets |  |  | 168,518 |  |  |  | 406,522 |
Total assets |  | $ | 193,490 |  |  | $ | 546,380 |
Current liabilities |  | $ | 20,966 |  |  | $ | 72,798 |
Long-term liabilities |  |  | 76,103 |  |  |  | 111,928 |
Total liabilities |  | $ | 97,069 |  |  | $ | 184,726 |
Noncontrolling interests |  | $ | — |  |  | $ | 33,224 |
Summarized financial information for each of the Company’s equity method investees except for NuGen is presented in the following table for the years ended December 31, 2012, 2011 and 2010. The summarized information for NuGen is presented for the ten months ended October 31, 2011 and for the six months ended December 31, 2010 (amounts in thousands):
Year Ended December 31, 2012 |  |  |  |  |  |
|  | Patriot |  |  | Big River |  | Nugen |
Net sales and revenue |  | $ | 365,302 |  |  | $ | 1,135,956 |  |  | — |
Gross profit |  | $ | 7,685 |  |  | $ | 20,651 |  |  | — |
Income from continuing operations |  | $ | 1,320 |  |  | $ | 2,799 |  |  | — |
Net income |  | $ | 1,320 |  |  | $ | 2,799 |  |  | — |
Year Ended December 31, 2011 and Period from January 1, 2011 through October 31, 2011 (NuGen)
|  | Patriot |  |  | Big River |  |  | Nugen |
Net sales and revenue |  | $ | 377,250 |  |  | $ | 1,162,308 |  |  | $ | 256,973 |
Gross profit |  | $ | 29,207 |  |  | $ | 105,207 |  |  | $ | 24,490 |
Income from continuing operations |  | $ | 22,615 |  |  | $ | 71,384 |  |  | $ | 18,133 |
Net income |  | $ | 22,615 |  |  | $ | 71,384 |  |  | $ | 18,133 |
Year Ended December 31, 2010 and Period from July 1, 2010 through December 31, 2010 (NuGen)
|  | Patriot |  |  | Big River |  |  | Nugen |
Net sales and revenue |  | $ | 261,117 |  |  | $ | 742,163 |  |  | $ | 121,871 |
Gross profit |  | $ | 26,936 |  |  | $ | 83,671 |  |  | $ | 12,977 |
Income from continuing operations |  | $ | 21,385 |  |  | $ | 52,478 |  |  | $ | 9,772 |
Net income |  | $ | 21,385 |  |  | $ | 52,478 |  |  | $ | 9,772 |
Patriot and Big River have debt agreements that limit and restrict amounts the entities can pay in the form of dividends or advances to owners. The restricted net assets of Patriot and Big River combined at January 31, 2013 are approximately $367.6 million. At January 31, 2013, the Company’s proportionate share of restricted net assets of Patriot and Big River combined is approximately $52.9 million.

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- Definition The entire disclosure for equity method investment, joint ventures, deposits, and investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. + References No definition available. + Details
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