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Segment Reporting
 6 Months Ended
Jul. 31, 2021
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

Note 14. Segment Reporting

 

The Company has two reportable segments: i) ethanol and by-products; and ii) refined coal. The Company evaluates the performance of each reportable segment based on net income attributable to REX common shareholders. Segment profitability measures are determined using the same accounting policies used in the preparations of the consolidated condensed financial statements. The following tables summarize segment and other results and assets (amounts in thousands):

 

   Three Months Ended
July 31,		   Six Months Ended
July 31,		 
   2021   2020   2021   2020 
Net sales and revenue:                    
Ethanol and by-products  $195,678   $39,242   $359,720   $122,477 
Refined coal 1   165    85    227    100 
Total net sales and revenue  $195,843   $39,327   $359,947   $122,577 

 

1 The Company records sales in the refined coal segment net of the cost of coal as the Company purchases the coal feedstock from the customer to which refined coal is sold.

 

   Three Months Ended
July 31,		   Six Months Ended
July 31,		 
   2021   2020   2021   2020 
Segment gross profit (loss):                    
Ethanol and by-products  $14,155   $553   $33,631   $(7,670) 
Refined coal   (3,081)    (1,884)    (4,755)    (2,991) 
Total gross profit (loss)  $11,074   $(1,331)   $28,876   $(10,661) 
                     
Income (loss) before income taxes:                    
Ethanol and by-products  $10,732   $(3,259)   $21,820   $(15,610) 
Refined coal   (3,455)    (2,118)    (5,260)    (2,965) 
Corporate and other   (902)    (702)    (1,758)    (1,247) 
Total income (loss) before income taxes  $6,375   $(6,079)   $14,802   $(19,822) 
                     
(Provision) benefit for income taxes:                    
Ethanol and by-products  $(1,985)   $893   $(4,423)   $5,054 
Refined coal   5,441    2,919    7,639    3,878 
Corporate and other   221    234    432    427 
Total benefit for income taxes  $3,677   $4,046   $3,648   $9,359 
   Three Months Ended
July 31,		   Six Months Ended
July 31,		 
   2021   2020   2021   2020 
Net income (loss) (net of noncontrolling interests):                
Ethanol and by-products  $6,418   $(2,178)   $14,374   $(9,611) 
Refined coal   2,139    898    2,612    1,048 
Corporate and other   (681)    (468)    (1,326)    (820) 
Net income (loss) attributable to REX common shareholders  $7,876   $(1,748)   $15,660   $(9,383) 

 

Assets:  July 31,
2021		   January 31,
2021		 
Ethanol and by-products  $424,470   $397,281 
Refined coal   1,540    2,861 
Corporate and other   79,497    79,203 
Total assets  $505,507   $479,345 

 

   Three Months Ended
July 31,		   Six Months Ended
July 31,		 
Sales of products, ethanol and by-products segment:  2021   2020   2021   2020 
Ethanol  $153,990   $32,524   $280,059   $93,121 
Dried distillers grains   31,573    5,480    62,691    24,398 
Non-food grade corn oil   9,813    1,313    15,407    4,501 
Modified distillers grains   1,934    209    4,227    666 
Derivative financial instruments losses   (1,638)    (298)    (2,764)    (298) 
Other   6    14    100    89 
Total  $195,678   $39,242   $359,720   $122,477 
Sales of products, refined coal segment:                    
Refined coal  $165   $85   $227   $100