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Note 7 - Lease Information

12 Months Ended

Jan. 31, 2019

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

Note

7

 - Lease information

Property under capitalized leases (in thousands)		2018				2017
Machinery and equipment		$	855			$	1,729
Transportation equipment			8				9
Subtotal			863				1,738
Less accumulated amortization			355				699
Total		$	508			$	1,039

The Company has several significant operating lease agreements as follows:

• Office Space of approximately 31,650 square feet in Niles, IL is leased until October, 2023.

• Five acres of land in Louisiana is leased through March, 2022.

• Thirty acres of land in Canada. Ten acres leased through October, 2019, and twenty acres leased through December, 2022.

• Nine acres of land in the Kingdom of Saudi Arabia is leased through April, 2030.

• Production facilities in the U.A.E. of approximately 80,200 square feet on approximately 107,600 square feet of land is leased until June, 2030.

• Office space of approximately 21,500 square feet and open land for production facilities of approximately 423,000 square feet in the U.A.E. is leased until July, 2032.

• Production facilities in the U.A.E. of approximately 78,100 square feet is leased until December, 2032.

The Company had leased

one

of its administrative offices in the U.A.E. from a partnership in which a former employee of the Company was a partner. The Company ended this lease arrangement in

2017

and paid total rent of

$0.2

million to the partnership in

2017.

No

payments were made in

2018.

Lease payments were based on prevailing market rates.

On

January 

31,

 

2019,

future minimum annual rental commitments under non-cancelable lease obligations were as follows:

(In thousands)		Operating Leases				Capital Leases
2019		$	2,516			$	241
2020			2,193				240
2021			2,149				82
2022			2,110				21
2023			1,979				—
Thereafter			8,997				—
Subtotal			19,944				584
Less Amount representing interest			—				(48	)
Future minimum lease payments		$	19,944			$	536

Rental expense for operating leases was

$2.6

 million and

$2.9

 million in

2018

 and

2017,

respectively.

X

- References

No definition available.

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X

- 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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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