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Investments

6 Months Ended

Jul. 31, 2014

Investments And Deposits [Text Block] [Abstract]

Note 12. Investments

The following table summarizes equity method investments at July 31, 2014 and January 31, 2014 (amounts in thousands):

Entity	Ownership Percentage		Carrying Amount July 31, 2014		Carrying Amount January 31, 2014

Big River	10	%	$	42,804	$	40,042
Patriot	27	%		35,265		31,147
Total Equity Method Investments			$	78,069	$	71,189

The following table summarizes income recognized from equity method investments for the periods presented (amounts in thousands):

	Three Months Ended July 31,				Six Months Ended July 31,
	2014		2013		2014		2013

Big River	$	4,720	$	2,092	$	9,779	$	2,736
Patriot		2,525		2,536		5,763		3,491
Total	$	7,245	$	4,628	$	15,542	$	6,227

Undistributed earnings of Big River and Patriot totaled approximately $39.5 million and $32.6 million at July 31, 2014 and January 31, 2014, respectively. During the first six months of fiscal years 2014 and 2013, the Company received dividends from equity method investees of approximately $8.6 million and $0.2 million, respectively.

Summarized financial information for each of the Company’s equity method investees is presented in the following table for the three and six months ended July 31, 2014 and 2013 (amounts in thousands):

	Three Months Ended July 31, 2014				Three Months Ended July 31, 2013

	Patriot		Big River		Patriot		Big River

Net sales and revenue	$	79,127	$	312,843	$	102,416	$	335,961
Gross profit	$	11,244	$	40,476	$	11,046	$	30,063
Income from continuing operations	$	9,511	$	48,618	$	9,552	$	21,549
Net income	$	9,511	$	48,618	$	9,552	$	21,549

	Six Months Ended July 31, 2014				Six Months Ended July 31, 2013

	Patriot		Big River		Patriot		Big River

Net sales and revenue	$	159,536	$	593,267	$	196,474	$	630,589
Gross profit	$	25,029	$	124,310	$	16,189	$	45,683
Income from continuing operations	$	21,705	$	100,739	$	13,150	$	28,180
Net income	$	21,705	$	100,739	$	13,150	$	28,180

Patriot and Big River have debt agreements that limit and restrict amounts the companies can pay in the form of dividends or advances to owners. The restricted net assets of Patriot and Big River combined at July 31, 2014 and January 31, 2014 are approximately $368.0 million and $366.2 million, respectively.