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INVESTMENTS | 12 Months Ended
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Jan. 31, 2019
Investments Schedule [Abstract] |
Investment [Text Block] |
2. | INVESTMENTS
The Company’s equity method investment in Big River is accounted for under ASC 323. The following table summarizes the investment (amounts in thousands):
|  | January 31, 2019 |  |  | January 31, 2018 |
Carrying amount |  | $ | 32,075 |  |  | $ | 34,549 |
Ownership percentage |  |  | 10.3 | % |  |  | 10.3 | %
The Company invested $20.0 million in Big River which is a holding company for several entities. Big River, through its various entities (both wholly and partially owned), operates four ethanol manufacturing facilities, that combined shipped approximately 428.6 million gallons of ethanol in the twelve months ended January 31, 2019. The Company recorded income of approximately $1.5 million, $3.2 million and $6.1 million as its share of earnings from Big River during fiscal years 2018, 2017 and 2016, respectively. The Company received dividends of approximately $4.0 million, $6.5 million and $7.0 million from Big River during fiscal years 2018, 2017 and 2016, respectively. At January 31, 2019, the carrying value of the investment in Big River is approximately $32.1 million; the amount of underlying equity in the net assets of Big River is approximately $28.3 million. Summarized financial information for the Company’s equity method investee as of and for its fiscal year end is presented in the following tables (amounts in thousands):
Big River |  |  |  |  |  |
|  | December 31, 2018 |  |  | December 31, 2017 |
Current assets |  | $ | 117,796 |  |  | $ | 149,436 |
Non current assets |  |  | 241,382 |  |  |  | 261,443 |
Total assets |  | $ | 359,178 |  |  | $ | 410,879 |
Current liabilities |  | $ | 50,172 |  |  | $ | 49,130 |
Long-term liabilities |  |  | 701 |  |  |  | 10,599 |
Total liabilities |  | $ | 50,873 |  |  | $ | 59,729 |
Noncontrolling interests |  | $ | 34,149 |  |  | $ | 38,412 |
|  | Years Ended December 31, |
Big River |  | 2018 |  |  | 2017 |  |  | 2016 |
Net sales and revenue |  | $ | 802,523 |  |  | $ | 817,112 |  |  | $ | 851,434 |
Gross profit |  | $ | 33,782 |  |  | $ | 60,259 |  |  | $ | 88,841 |
Income from continuing operations |  | $ | 14,893 |  |  | $ | 32,243 |  |  | $ | 63,292 |
Net income |  | $ | 14,893 |  |  | $ | 32,243 |  |  | $ | 63,292 |
Big River has debt agreements that limit and restrict amounts the entity can pay in the form of dividends or advances to owners. The restricted net assets of Big River at January 31, 2019 are approximately $185.1 million; the Company’s proportionate share of restricted net assets of Big River is approximately $19.1 million. The following table summarizes the Company’s held-to-maturity security at January 31, 2019 (amounts in thousands):
|  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
United States Treasury Bill |  | $ | 14,975 |  |  | $ | 2 |  |  | $ | 14,973 |
As of January 31, 2019, the contractual maturity of this investment was less than one year. The yield to maturity rate is 2.29%. The Company had no held-to-maturity investments as of January 31, 2018.

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- Definition The entire disclosure for investments, including all tables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 6 -Section 10 -Paragraph (c) -Subparagraph (1) + Details
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