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Schedule I - CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

12 Months Ended

Jan. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Schedule I – CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES
CONDENSED BALANCE SHEETS PARENT COMPANY ONLY
(Amounts in Thousands)

	January 31,

ASSETS	2013		2012
CURRENT ASSETS:
Cash and cash equivalents	$	47,744	$	46,066
Accounts receivable - net		280		203
Refundable income taxes		1,347		1,816
Prepaid expenses and other		259		253
Deferred taxes - net		3,930		3,090
Total current assets		53,560		51,428
Property and equipment - net		12,365		16,404
Other assets		1,045		1,825
Equity method investments		189,012		196,871
Restricted investments and deposits		503		1,363
TOTAL ASSETS	$	256,485	$	267,891

LIABILITIES AND EQUITY	2013			2012
CURRENT LIABILITIES:
Current portion of long term debt	$	187		$	250
Accounts payable – trade		40			148
Deferred income		552			1,864
Accrued real estate taxes		387			410
Accrued payroll and related items		60			2,606
Other current liabilities		1,308			1,565
Total current liabilities		2,534			6,843
LONG TERM LIABILITIES:
Long term debt		433			821
Deferred taxes		6,955			4,461
Deferred income		—			552
Other long term liabilities		211			2,703
Total long term liabilities		7,599			8,537
COMMITMENTS AND CONTINGENCIES
EQUITY:
REX shareholders’ equity:
Common stock, 45,000 shares authorized, 29,853 shares issued at par		299			299
Paid in capital		143,575			142,994
Retained earnings		322,028			324,323
Treasury stock, 21,701 and 21,523 shares, respectively		(219,550	)		(215,105	)
Total shareholders’ equity		246,352			252,511

TOTAL LIABILITIES AND EQUITY	$	256,485		$	267,891

REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES

CONDENSED STATEMENTS OF OPERATIONS PARENT COMPANY ONLY
(Amounts in Thousands)

	Years Ended January 31,
	2013			2012			2011

Net sales and revenue	$	1,570		$	1,288		$	1,000
Cost of sales		1,864			2,465			1,287
Gross loss		(294	)		(1,177	)		(287	)
Selling, general and administrative expenses		(2,897	)		(6,053	)		(5,438	)
Equity in (loss) income of consolidated and unconsolidated ethanol affiliates		(1,451	)		43,100			33,762
Bargain purchase gain, net		—			3,541			—
Income from synthetic fuel investments		—			2,883			—
Interest income		129			369			1,173
Interest expense		(65	)		(85	)		(127	)
Loss on early termination of debt		—			(1	)		(48	)
Other income		10			9			5
(Loss) income from continuing operations before income taxes		(4,568	)		42,586			29,040
Benefit (provision) for income taxes		1,644			(15,957	)		(12,210	)
(Loss) income from continuing operations		(2,924	)		26,629			16,830
Income (loss) from discontinued operations, net of tax		500			1,206			(11,924	)
Gain on disposal of discontinued operations, net of tax		129			435			163
Net (loss) income	$	(2,295	)	$	28,270		$	5,069

CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME PARENT COMPANY ONLY
(Amounts in Thousands)

	Years Ended January 31,
	2013			2012		2011

Net (loss) income	$	(2,295	)	$	28,270	$	5,069
Other comprehensive loss:
Reclassification adjustment for net gains included in net income, net of tax		—			—		(49	)

Comprehensive (loss) income	$	(2,295	)	$	28,270	$	5,020

CONDENSED STATEMENTS OF CASH FLOWS PARENT COMPANY ONLY
(Amounts in Thousands)

	Years Ended January 31,
	2013			2012			2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$	(2,295	)	$	28,270		$	5,069
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization		937			967			2,358
Impairment charges and loss on deconsolidation, net of cash divested of $2,304		—			—			15,023
Impairment charges on real estate		562			1,227			1,021
Loss (income) from equity method investments		1,451			(43,100	)		(29,691	)
Dividends received from equity method investments		6,267			9,995			4,965
Bargain purchase gain, net		—			(3,541	)		—
Income from synthetic fuel investments		—			(2,883	)		—
Loss (gain) on disposal of real estate and property and equipment		(133	)		(683	)		(293	)
Deferred income		(1,864	)		(3,982	)		(7,816	)
Deferred income tax		(908	)		14,587			3,702
Changes in assets and liabilities, net of acquisition and deconsolidation:
Accounts receivable		(77	)		1			343
Prepaid expenses and other assets		773			1,295			1,808
Income taxes refundable		719			7,852			4,310
Accounts payable-trade		(108	)		67			(1,307	)
Other liabilities		(2,762	)		1,866			(1,783	)
Net cash provided by (used in) operating activities		2,562			11,938			(2,291	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		—			(66	)		(356	)
Proceeds from synthetic fuel investments		—			2,883			—
Purchase of investments		—			(21,625	)		(9,214	)
Proceeds of note receivable		—			—			965
Proceeds from sale of real estate and property and equipment		2,815			4,345			7,986
Restricted investments		860			237			500
Net cash provided by (used in) investing activities		3,675			(14,226	)		(119	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of long term debt		(451	)		(1,195	)		(701	)
Stock options exercised		265			362			1,518
Repayments of contingent consideration liability		—			(1,251	)		—
Treasury stock acquired		(4,373	)		(22,218	)		(8,229	)
Net cash used in financing activities		(4,559	)		(24,302	)		(7,412	)
NET DECREASE IN CASH AND CASH EQUIVALENTS		1,678			(26,590	)		(9,822	)
CASH AND CASH EQUIVALENTS-Beginning of year		46,066			72,656			82,478
CASH AND CASH EQUIVALENTS-End of year	$	47,744		$	46,066		$	72,656
Non cash activities-Cashless exercises of stock options	$	1,071		$	3,444		$	—

NOTES TO CONDENSED FINANCIAL STATEMENTS PARENT COMPANY ONLY

1. BASIS OF PRESENTATION

Rex American Resources Corporation, the Parent Company, is a holding company that conducts substantially all of its business operations (excluding real estate) through its subsidiaries. Pursuant to certain of its subsidiaries’ debt agreements, there are restrictions on the Parent Company’s ability to obtain funds from certain of its subsidiaries through dividends, loans or advances. See Note 10 in the Notes to the Consolidated Financial Statements for a further discussion. Accordingly, these condensed financial statements have been presented on a parent company only basis. Under such presentation, the Parent Company’s investments in its consolidated subsidiaries are presented under the equity method of accounting. These Parent Company only financial statements should be read in conjunction with REX American Resources Corporation’s audited consolidated financial statements.

2. LONG-TERM DEBT

Long-term debt consists of notes payable secured by certain land, buildings and equipment. Interest rates were fixed at 8.4% in fiscal years 2012 and 2011. Principal and interest are payable periodically over terms that generally range up to 3 years. Annual expected maturities of long-term debt are as follows (amounts in thousands):

Year Ending
January 31,

2014	$	187
2015		221
2016		212

	$	620

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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