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Investments
 9 Months Ended
Oct. 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 October 31, 2025 and January 31, 2025 (dollars in thousands):

 

           Carrying Amount
Entity  Ownership Percentage  October 31, 2025  January 31, 2025
          
Big River  10.3%  $39,579  $35,800

 

Undistributed earnings of the Company’s equity method investee totaled approximately $20.1 million and approximately $15.8 million at October 31, 2025 and January 31, 2025, respectively. The Company received dividends from its equity method investee of approximately $2.5 million and $3.0 million in the first nine months of 2025 and 2024, 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,		 
   2025   2024   2025   2024 
                     
Net sales and revenue  $293,088   $275,586   $795,267   $808,774 
Gross profit  $57,842   $46,996   $85,330   $88,110 
Depreciation expense  $3,495   $3,433   $11,263   $16,639 
Net income  $54,389   $44,901   $75,445   $84,127 
Net income attributable to members  $47,783   $38,708   $63,560   $72,311 

Short-term Investments

 

At October 31, 2025, the Company owned United States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $63.5 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 October 31, 2025 were approximately $9,000.

 

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.