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INVESTMENTS | 12 Months Ended
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Jan. 31, 2020
Disclosure Text Block Supplement [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, 2020 |  | January 31, 2019
Carrying amount |  | $ | 32,464 |  |  | $ | 32,075 |
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 424.6 million gallons of ethanol in the twelve months ended January 31, 2020. The Company recorded income of approximately $1.4 million, $1.5 million and $3.2 million as its share of earnings from Big River during fiscal years 2019, 2018 and 2017, respectively. The Company received dividends of approximately $1.0 million, $4.0 million and $6.5 million from Big River during fiscal years 2019, 2018 and 2017, respectively. At January 31, 2020, the carrying value of the investment in Big River is approximately $32.5 million; the amount of underlying equity in the net assets of Big River is approximately $27.7 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):
|  | December 31,
|  | 2019 |  | 2018
Current assets |  | $ | 146,494 |  |  | $ | 117,796 |
Non current assets |  |  | 211,235 |  |  |  | 241,382 |
Total assets |  | $ | 357,729 |  |  | $ | 359,178 |
Current liabilities |  | $ | 55,552 |  |  | $ | 50,172 |
Long-term liabilities |  |  | — |  |  |  | 701 |
Total liabilities |  | $ | 55,552 |  |  | $ | 50,873 |
Noncontrolling interests |  | $ | 33,966 |  |  | $ | 34,149 |
|  | Years Ended December 31,
|  | 2019 |  | 2018 |  | 2017
Net sales and revenue |  | $ | 823,718 |  |  | $ | 802,523 |  |  | $ | 817,112 |
Gross profit |  | $ | 30,774 |  |  | $ | 33,782 |  |  | $ | 60,259 |
Income from continuing operations |  | $ | 13,502 |  |  | $ | 14,893 |  |  | $ | 32,243 |
Net income |  | $ | 13,502 |  |  | $ | 14,893 |  |  | $ | 32,243 |
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, 2020 are approximately $173.7 million; the Company’s proportionate share of restricted net assets of Big River is approximately $17.9 million. At January 31, 2020, the Company owned certificates of deposit that had an amortized cost, or carrying value, of approximately $26,073,000. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 1.8%. Unrealized gains or losses were insignificant. At January 31, 2019, the Company owned a United States Treasury Bill that had an amortized cost, or carrying value, of approximately $14,975,000. The contractual maturity of this investment was less than one year. The yield to maturity rate was approximately 2.3%. Unrealized gains or losses were insignificant.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI http://asc.fasb.org/topic&trid=75115024 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI http://asc.fasb.org/topic&trid=2197064 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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