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INVESTMENTS

6 Months Ended

Jul. 31, 2018

Note 12. Investments

The following table summarizes the Company’s equity method investment at July 31, 2018 and January 31, 2018 (dollars in thousands):

Entity	Ownership Percentage		Carrying Amount July 31, 2018		Carrying Amount January 31, 2018

Big River		10.3%	$	35,117	$	34,549

Undistributed earnings of the Company’s equity method investee totaled approximately $15.1 million and $14.5 million at July 31, 2018 and January 31, 2018, respectively. The Company received dividends from its equity method investee of approximately $1.0 million and approximately $2.0 million during the first six months of fiscal years 2018 and 2017, respectively.

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 July 31,				Six Months Ended July 31,
	2018		2017		2018		2017

Net sales and revenue	$	212,092	$	212,070	$	404,035	$	404,569
Gross profit	$	10,648	$	11,582	$	24,339	$	19,764
Income from continuing operations	$	8,468	$	1,411	$	15,232	$	8,618
Net income	$	8,468	$	1,411	$	15,232	$	8,618

The following table summarizes the Company’s held-to-maturity securities at July 31, 2018 (dollars in thousands):

	Amortized Cost		Gross Unrealized Losses		Estimated Fair Value

United States Treasury Bills	$	111,969	$	36	$	111,933

As of July 31, 2018, the contractual maturities of these investments were less than one year. Yield to maturity rates vary between 1.6% and 1.8%.

The Company had no held-to-maturity investments as of January 31, 2018.