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Investments
 3 Months Ended
Apr. 30, 2022
Disclosure Text Block Supplement [Abstract]  
Investment [Text Block]

Note 9. Investments

 

Equity Method Investment in Big River

 

The following table summarizes the Company’s equity method investment at April 30, 2022 and January 31, 2022 (dollars in thousands):

 

       Carrying Amount 
Entity  Ownership Percentage   April 30, 2022   January 31, 2022 
                
Big River   10.3%    $32,517    $30,566 

 

Undistributed earnings of the Company’s equity method investee totaled approximately $12.5 million and approximately $10.5 million at April 30, 2022 and January 31, 2022, respectively. The Company did not receive any dividends from its equity method investee in the first quarter of fiscal year 2022 and 2021.

 

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
April 30,		 
   2022   2021 
           
Net sales and revenue  $351,746   $256,416 
Gross profit  $22,024   $1,544 
Income from continuing operations  $18,925   $5,535 
Net income  $18,925   $5,535 

 

Short-term Investments

 

At April 30, 2022, the Company owned certificates of deposit and United States Treasury Bills that had an amortized cost, or carrying value, of approximately $167.3 million. The contractual maturity of

these investments was less than one year. The yield to maturity rate was approximately 0.7%. Unrealized gains or losses were insignificant.

 

At January 31, 2022, the Company owned certificates of deposit that had an amortized cost, or carrying value, of approximately $25,877,000. 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.