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Investments
 9 Months Ended
Oct. 31, 2021
Disclosure Text Block Supplement [Abstract]  
Investment [Text Block]

Note 9. Investments

 

The following table summarizes the Company’s equity method investment at October 31, 2021 and January 31, 2021 (dollars in thousands):

 

       Carrying Amount 
Entity  Ownership Percentage   October 31, 2021   January 31, 2021 
                
Big River   10.3%   $30,715    $29,456 

 

Undistributed earnings of the Company’s equity method investee totaled approximately $10.7 million and approximately $9.4 million at October 31, 2021 and January 31, 2021, respectively. The Company received dividends from its equity method investee of approximately $1.5 million and approximately $2.5 million in the first nine months of fiscal year 2021 and 2020, 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,		 
   2021   2020   2021   2020 
                 
Net sales and revenue      $347,059     $209,397    $966,858    $537,155 
Gross profit  $7,092   $15,419   $27,993   $13,041 
Income from continuing operations  $3,390   $11,167   $26,802   $1,627 
Net income  $3,390   $11,167   $26,802   $1,627 

 

At October 31, 2021, the Company owned certificates of deposit that had an amortized cost, or carrying value, of approximately $21,620,000. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 0.1%. Unrealized gains or losses were insignificant.

 

At January 31, 2021, the Company owned certificates of deposit that had an amortized cost, or carrying value, of approximately $36,194,000. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 0.2%. Unrealized gains or losses were insignificant.