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Leases | 3 Months Ended
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Jul. 31, 2024
Disclosure Text Block [Abstract] |
Leases of Lessee Disclosure [Text Block] | Note 4. Leases At July 31, 2024, the Company had lease agreements, as lessee, for railcars. All of the leases are accounted for as operating leases. The lease agreements do not contain a specified implicit interest rate; therefore, the Company’s estimated incremental borrowing rate was used to determine the present value of future minimum lease payments. The lease term for all of the Company’s leases includes the noncancelable period of the lease and any periods covered by renewal options that the Company is reasonably certain to exercise. Certain leases include rent escalations pre-set in the agreements, which are factored into the lease payment stream. The components of lease expense, classified as SG&A expenses on the Consolidated Statement of Operations are as follows (amounts in thousands):
|  | Three Months Ended July 31, |  |  | Six Months Ended July 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating lease expense |  | $ | 1,688 |  |  | $ | 1,431 |  |  | $ | 3,370 |  |  | $ | 3,192 |
Variable lease expense |  |  | (59) |  |  |  | 61 |  |  |  | (5) |  |  |  | 303 |
Total lease expense |  | $ | 1,629 |  |  | $ | 1,492 |  |  | $ | 3,365 |  |  | $ | 3,495 |
The following table is a summary of future minimum rentals on such leases at July 31, 2024 (amounts in thousands):
Years Ended January 31, |  | Minimum Rentals |
Remainder of 2025 |  | $ | 2,363 |
2026 |  |  | 3,766 |
2027 |  |  | 3,717 |
2028 |  |  | 3,287 |
2029 |  |  | 1,959 |
Thereafter |  |  | 595 |
Total |  |  | 15,687 |
Less: present value discount |  |  | 2,489 |
Operating lease liabilities |  | $ | 13,198 |
At July 31, 2024, the weighted average remaining lease term is 3.8 years, and the weighted average discount rate is 6.50% for the outstanding leases. At January 31, 2024, the weighted average remaining lease term was 3.4 years, and the weighted average discount rate was 5.94% for the outstanding leases.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/840/tableOfContent + Details
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