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Commitments and Contingencies
9 Months Ended
Oct. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

Note 13. Commitments and Contingencies

 

The Company may be involved in various legal actions arising in the normal course of business, from time to time. After taking into consideration legal counsels’ evaluations of any such action(s), management is of the opinion that their outcome will not have a material adverse effect on the Company’s Consolidated Condensed Financial Statements.

 

One Earth and NuGen have combined forward purchase contracts for approximately 12.4 million bushels of corn, the principal raw material for their ethanol plants, and they have combined forward purchase contracts for approximately 2.1 million MmBtu (million British thermal unit) of natural gas.

 

One Earth and NuGen have combined sales commitments for approximately 50.3 million gallons of ethanol, approximately 113,000 tons of distillers grains and approximately 13.5 million pounds of non-food grade corn oil.

 

The refined coal entity has various agreements (site license, operating agreements, etc.) containing payment terms based upon production of refined coal under which the Company is required to pay various fees. These fees totaled approximately $2.0 million and approximately $0.5 million in the third quarter of fiscal years 2021 and 2020, respectively. Such fees totaled approximately $5.1 million and approximately $1.9 million for the nine months ended October 31, 2021 and 2020, respectively.