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INVESTMENTS

9 Months Ended

Oct. 31, 2018

Note 12. Investments

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

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

Big River		10.3	%	$	33,724	$	34,549

Undistributed earnings of the Company’s equity method investee totaled approximately $13.7 million and $14.5 million at October 31, 2018 and January 31, 2018, respectively. The Company received dividends from its equity method investee of approximately $3.0 million and approximately $4.0 million during the first nine 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 October 31,				Nine Months Ended October 31,
	2018		2017		2018		2017

Net sales and revenue	$	196,169	$	201,621	$	600,204	$	606,190
Gross profit	$	15,150	$	18,620	$	39,489	$	38,363
Income from continuing operations	$	5,932	$	11,010	$	21,164	$	19,628
Net income	$	5,932	$	11,010	$	21,164	$	19,628

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

	Amortized Cost		Gross Unrealized Losses		Estimated Fair Value

United States Treasury Bill	$	14,891	$	5	$	14,886

As of October 31, 2018, the contractual maturity of this investment was less than one year. The yield to maturity rate is 2.34%.

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