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Discontinued Operations
 6 Months Ended
Jul. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note 12. Discontinued Operations

 

On November 18, 2021, the Company ceased operation of its refined coal business as tax credits could no longer be earned on its operation. Beginning in the third quarter of fiscal year 2021, the results of the operation of the refined coal business have been recognized as discontinued operations. Below is a table reflecting certain items of the Consolidated Condensed Statement of Operations that were reclassified as discontinued operations for the periods indicated (amounts in thousands):

 

   Three Months
Ended July 31,
2021		         Six Months
Ended July 31,
2021		 
             
Net sales and revenue1                $165               $227 
Cost of Sales     3,245      4,982 
Gross loss     (3,080)      (4,755) 
Selling, general and administrative     (351)      (436) 
Loss before income taxes     (3,431)      (5,191) 
Benefit for income taxes     5,444      7,639 
Net income from discontinued operations, net of tax     2,013      2,448 
Net loss attributable to noncontrolling interests     153      233 
Net income attributable to REX common shareholders    $2,166     $2,681 

 

1 Refined coal sales were recorded net of the cost of coal as the Company purchased the coal feedstock from the customer to which the processed refined coal was sold.