Company: REX
Filing Date: 2025-09-02
Form Type: 10-Q
Source: 0000930413-25-002856
Chunk: 46

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-09-02
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 $3.9 million following the payment of
fiscal year 2023 bonuses, offset by the accrual of the first six months of the fiscal year 2024 bonuses. Additionally, a reduction
in the lease and accrued utility liabilities used cash of approximately $3.0 million and $1.8 million, respectively. These reductions
were offset primarily by an increase in the mark-to-market liability recorded for certain corn contracts.

At July 31, 2025, working capital was approximately
$353.4 million, compared to $385.4 million at January 31, 2025. The ratio of current assets to current liabilities was 10.5 to
1 at July 31, 2025 and 8.6 to 1 at January 31, 2025.

Cash of approximately $67.5 million was provided
by investing activities for the first six months of fiscal year 2025, compared to cash provided by investing activities of approximately
$33.8 million during the first six months of fiscal year 2024. During the first six months of fiscal year 2025, the Company had
capital expenditures of approximately $28.9 million, primarily for various capital projects at our consolidated ethanol plants,
including $9.7 million for expansion and CI scoring reduction projects at the One Earth facility and $2.1 million for the carbon
sequestration project. During the first six months of fiscal year 2025, we purchased short-term U.S. Treasury Bills of approximately
$90.7 million, while U.S. Treasury Bills of approximately $187.0 million matured. The U.S Treasury Bills had maturities of less
than one year and we classified them as short-term investments. Depending on the investment options available, we may elect to
retain the funds, or a portion thereof, in cash, short-term investments or long-term investments.

Cash of approximately $33.8 million was provided
by investing activities for the first six months of fiscal year 2024. During the first six months of fiscal year 2024, we had capital
expenditures of approximately $40.2 million, primarily for various capital projects at our consolidated ethanol plants, including
$15.4 million for expansion and CI scoring reduction projects at the One Earth facility and $17.4 million for the carbon sequestration
project. During the first six months of fiscal year 2024, we purchased short-term U.S. Treasury Bills of approximately $