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Discontinued Operations | 9 Months Ended
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Oct. 31, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 12. Discontinued Operations On November 18, 2021, the Company ceased operation of its refined coal business as tax credits could no longer be earned on its operation. Beginning in the third quarter of fiscal year 2021, the results of the operations of the refined coal business will be recognized as discontinued operations. Below is a table reflecting certain items of the Consolidated Condensed Statement of Operations that were reclassified as discontinued operations for the periods indicated (amounts in thousands):
|  | Three Months Ended October 31, |  |  | Nine Months Ended October 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net sales and revenue1 |  | $ | 151 |  |  | $ | 34 |  |  | $ | 377 |  |  | $ | 134 |
Cost of Sales |  |  | 3,033 |  |  |  | 1,284 |  |  |  | 8,015 |  |  |  | 4,375 |
Gross loss |  |  | (2,882) |  |  |  | (1,250) |  |  |  | (7,638) |  |  |  | (4,241) |
Selling, general and administrative |  |  | 230 |  |  |  | (12) |  |  |  | 665 |  |  |  | (107) |
Income before income taxes |  |  | (3,112) |  |  |  | (1,238) |  |  |  | (8,303) |  |  |  | (4,134) |
Benefit for income taxes |  |  | 4,927 |  |  |  | 985 |  |  |  | 12,566 |  |  |  | 4,863 |
Net income from discontinued operations, net of tax |  |  | 1,815 |  |  |  | (253) |  |  |  | 4,263 |  |  |  | 729 |
Net loss attributable to noncontrolling interests |  |  | 137 |  |  |  | 58 |  |  |  | 370 |  |  |  | 193 |
Net income (loss) attributable to REX common shareholders |  | $ | 1,952 |  |  | $ | (195) |  |  | $ | 4,633 |  |  | $ | 922 |
1 Refined coal sales were recorded net of the cost of coal as the Company purchased the coal feedstock from the customer to which the processed refined coal was sold. Below is a table reflecting certain items of the Consolidated Condensed Balance Sheets that were reclassified as discontinued operations for the periods indicated (amounts in thousands):
|  | October 31, 2021 |  |  | January 31, 2021 |
Assets: |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other |  |  | $ | 146 |  |  |  | $ | 34 |
Inventory |  |  |  | 246 |  |  |  |  | 454 |
Total current assets |  |  |  | 392 |  |  |  |  | 488 |
Property and equipment, net |  |  |  | 233 |  |  |  |  | 2,325 |
Total Assets |  |  |  | 625 |  |  |  |  | 2,813 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable, trade |  |  |  | 253 |  |  |  |  | 334 |
Accrued expenses and other current liabilities |  |  |  | 29 |  |  |  |  | 201 |
Total current liabilities |  |  |  | 282 |  |  |  |  | 535 |
Total liabilities |  |  |  | 282 |  |  |  |  | 535 |
Net assets included in discontinued operations |  |  | $ | 343 |  |  |  | $ | 2,278 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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