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Investments
 3 Months Ended
Jul. 31, 2025
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 July 31, 2025 and January 31, 2025 (dollars in thousands):

 

       Carrying Amount 
Entity  Ownership Percentage   July 31, 2025   January 31, 2025 
             
Big River   10.3%    $35,191    $35,800 

 

Undistributed earnings of the Company’s equity method investee totaled approximately $15.2 million and approximately $15.8 million at July 31, 2025 and January 31, 2025, respectively. The Company received dividends from its equity method investee of approximately $2.5 million in the first six months of 2025. The Company did not receive dividends from its equity method investee in the first six months of fiscal year 2024.

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,		 
   2025   2024   2025   2024 
                 
Net sales and revenue  $229,876   $260,202   $502,179   $533,188 
Gross profit  $13,238   $22,852   $27,488   $41,114 
Depreciation expense  $3,907   $6,660   $7,769   $13,206 
Net income  $9,320   $20,064   $21,056   $39,226 
Net income attributable to members  $6,102   $16,944   $15,777   $33,603 

 

Short-term Investments

 

At July 31, 2025, the Company owned United States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $69.5 million. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 4.3%. Unrecognized holding losses at July 31, 2025 were approximately $32,000.

 

At January 31, 2025, the Company owned United States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $162.8 million. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 4.4%. Unrecognized holding losses at January 31, 2025 were approximately $19,000.