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INVESTMENTS
 9 Months Ended
Oct. 31, 2017
Investments Schedule [Abstract]  
Investment [Text Block]

Note 11. Investments


The following table summarizes the Company’s equity method investment at October 31, 2017 and January 31, 2017 (dollars in thousands):


Entity

  

Ownership Percentage

   Carrying Amount
October 31, 2017		   Carrying Amount
January 31, 2017
             

Big River

  

10.3% at October 31, 2017 and 9.7% at January 31, 2017

$35,755

 

  

$37,833

 


Undistributed earnings of the Company’s equity method investee totaled approximately $15.7 million and $17.8 million at October 31, 2017 and January 31, 2017, respectively. The Company received dividends from its equity method investee of approximately $4.0 million during the first nine months of fiscal years 2017 and 2016.


Summarized financial information for the Company’s equity method investee is presented in the following table for the periods presented (amounts in thousands):


   Three Months Ended
October 31,		   Nine Months Ended
October 31,		 
   2017   2016   2017   2016 
                 
Net sales and revenue  $201,621   $216,505   $606,190   $611,050 
Gross profit  $18,620   $26,191   $38,363   $49,119 
Income from continuing operations  $11,010   $18,934   $19,628   $33,555 
Net income  $11,010   $18,934   $19,628   $33,555 

Big River has debt agreements that limit amounts Big River can pay in the form of dividends or advances to owners. The restricted net assets of Big River at October 31, 2017 and January 31, 2017 are approximately $276.4 million and $278.7 million, respectively.


On June 1, 2015, Patriot Holdings, LLC (“Patriot”) and a subsidiary of CHS Inc. (“CHS”) completed a merger that resulted in CHS acquiring 100% of the ownership interest in Patriot. During the first quarter of fiscal year 2016, the Company received proceeds of approximately $2.3 million as partial payment for certain escrow holdbacks and adjustments to the purchase price. As a result, the Company recognized approximately $0.2 million as gain on sale of investment during the first quarter of fiscal year 2016. The Company does not expect any further proceeds or gain/loss on sale of investment to be significant.