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INVESTMENTS | 12 Months Ended
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Jan. 31, 2022
Disclosure Text Block Supplement [Abstract] |
Investment [Text Block] |
| 3. | INVESTMENTS
Equity Method Investment in Big River 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,
|  | 2022 |  |  | 2021
Carrying amount |  | $ | 30,566 |  |  | $ | 29,456
Ownership percentage |  |  | 10.3% |  |  |  | 10.3%
The Company invested approximately $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 421.0 million gallons of ethanol in the twelve months ended January 31, 2022. The Company recorded income of approximately $6.6 million, $0.5 million and $1.4 million as its share of earnings from Big River during fiscal years 2021, 2020 and 2019, respectively. The Company received dividends of approximately $5.5 million, $3.5 million and $1.0 million from Big River during fiscal years 2021, 2020 and 2019, respectively. At January 31, 2022, the carrying value of the investment in Big River is approximately $30.6 million; the amount of underlying equity in the net assets of Big River is approximately $29.8 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, |
|  | 2021 |  |  | 2020 |
Current assets |  | $ | 310,411 |  |  | $ | 172,742 |
Non current assets |  |  | 146,384 |  |  |  | 178,221 |
Total assets |  | $ | 456,795 |  |  | $ | 350,963 |
Current liabilities |  | $ | 131,317 |  |  | $ | 69,259 |
Long-term liabilities |  |  | - |  |  |  | 2,832 |
Total liabilities |  | $ | 131,317 |  |  | $ | 72,091 |
Noncontrolling interests |  | $ | 36,786 |  |  | $ | 30,116 |
|  | Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Net sales and revenue |  | $ | 1,332,555 |  |  | $ | 736,225 |  |  | $ | 823,718 |
Gross profit |  | $ | 85,401 |  |  | $ | 18,858 |  |  | $ | 30,774 |
Income from continuing operations |  | $ | 64,243 |  |  | $ | 4,850 |  |  | $ | 13,502 |
Net income |  | $ | 64,243 |  |  | $ | 4,850 |  |  | $ | 13,502 |
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, 2022 are approximately $116.2 million; the Company’s proportionate share of restricted net assets of Big River is approximately $12.0 million. Short-term Investments At January 31, 2022, the Company owned certificates of deposit (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $25.9 million. 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 $36.2 million. 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.

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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 https://asc.fasb.org/topic&trid=75115024 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI https://asc.fasb.org/topic&trid=2197064 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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