Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 69

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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the Company’s operations at its ethanol plants are aggregated into one reporting segment, each of which is reviewed in the
same manner by the chief operating decision maker. Aggregation into one reporting segment is appropriate based upon the similarity
of economic characteristics of the operating segments, including the markets for identical revenue sources and the primary input,
corn. The plants in all locations operate in a similar manner to produce ethanol and by-products. The types of customers and how
the products are distributed to the customers are similar across each operating entity, consisting of a combination of rail and
truck shipments. Finally, the regulatory environment is largely impacted by guidance from the federal level, impacting each operating
segment the same.

The measure of segment assets is reported
on the balance sheet as total consolidated assets.

23

The following tables set forth certain
financial data for the Company’s reportable segment for the three-month periods ended April
30, 2025 and 2024 (in thousands):

    Three Months Ended April 30,

     2025  
     2024 

    Net sales and revenue 

    Ethanol and by-products 
    $430,643  
    $434,217 

    Reconciling Item: Equity method ethanol investment 
     (272,303) 
     (272,986)

    Total consolidated net sales and revenue 
    $158,340  
    $161,231 

    Cost of sales 

    Ethanol and by-products: 

    Cost of corn 
    $280,365  
    $292,680 

    Other cost of sales (1) 
     121,686  
     108,824 

    Reconciling Item: Equity method ethanol investment 
     (258,053) 
     (254,724)

    Total cost of sales 
    $143,998  
    $146,780 

    Gross profit 

    Ethanol and by-products 
    $28,592  
    $32,713 

    Reconciling Item: Equity method ethanol investment 
     (14,250) 
     (18,262)

    Total consolidated gross profit 
    $14,342  
    $14,451 

    Depreciation and amortization expense 

    Ethanol and by-products 
    $10,239  
    $14,556 

    Reconciling Item: Equity method ethanol investment 
     (5