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Investments | 3 Months Ended
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Oct. 31, 2024
Disclosure Text Block Supplement [Abstract] |
Investment [Text Block] | Note 10. Investments Equity Method Investment in Big River The following table summarizes the Company’s equity method investment at October 31, 2024 and January 31, 2024 (dollars in thousands):
|  |  |  | Carrying Amount
Entity |  | Ownership Percentage |  | October 31, 2024 |  | January 31, 2024
Big River |  | 10.3% |  | $39,015 |  | $34,936
Undistributed earnings of the Company’s equity method investee totaled approximately $19.0 million and approximately $14.9 million at October 31, 2024 and January 31, 2024, respectively. The Company received dividends from its equity method investee of approximately $3.0 million and $5.5 million in the first nine months of fiscal year 2024 or 2023, respectively. 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 October 31, |  |  | Nine Months Ended October 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net sales and revenue |  | $ | 272,481 |  |  | $ | 351,390 |  |  | $ | 808,844 |  |  | $ | 1,128,012 |
Gross profit |  | $ | 46,996 |  |  | $ | 52,869 |  |  | $ | 88,110 |  |  | $ | 107,395 |
Depreciation expense |  | $ | 3,433 |  |  | $ | 6,470 |  |  | $ | 16,639 |  |  | $ | 19,629 |
Net income |  | $ | 44,900 |  |  | $ | 53,112 |  |  | $ | 84,127 |  |  | $ | 104,930 |
Net income attributable to members |  | $ | 38,708 |  |  | $ | 45,955 |  |  | $ | 72,311 |  |  | $ | 89,954 |
Short-term Investments At October 31, 2024, the Company owned United States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $66.8 million. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 5.1%. Unrecognized holding gains at October 31, 2024 were approximately $18,000. At January 31, 2024, the Company owned United States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $155.3 million. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 5.5%. Unrecognized holding losses at January 31, 2024 were approximately $94,000.

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