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Investments
 6 Months Ended
Jul. 31, 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 July 31, 2022 and January 31, 2022 (dollars in thousands):

 

       Carrying Amount 
Entity  Ownership Percentage   July 31, 2022   January 31, 2022 
             
Big River   10.3%  $36,115   $30,566 

Undistributed earnings of the Company’s equity method investee totaled approximately $16.1 million and approximately $10.5 million at July 31, 2022 and January 31, 2022, respectively. The Company did not receive any dividends from its equity method investee in the first six months 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
July 31,		   Six Months Ended
July 31,		 
   2022   2021   2022   2021 
                 
Net sales and revenue  $450,396   $363,383   $802,142   $619,799 
Gross profit  $27,137   $19,357   $49,161   $20,901 
Income from continuing operations  $34,891   $17,877   $53,816   $23,412 
Net income  $34,891   $17,877   $53,816   $23,412 

 

Short-term Investments

 

At July 31, 2022, the Company owned United States Treasury Bills that had an amortized cost, or carrying value, of approximately $190.5 million. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 0.9%. 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.