Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 63

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 8
Chunk 63
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 30, 2025 and January
31, 2025, the Company recorded this collateral balance within “Prepaid expenses and other” on the accompanying Consolidated
Balance Sheets.

See Note 5 which contains fair value information
related to derivative financial instruments.

The following table provides information
about gains recognized in income on the Company’s derivative financial instruments and the line items on the accompanying
Consolidated Statements of Operations in which the fair values are reflected for the three months ended April 30, 2025 and 2024
(amounts in thousands):

    Three Months Ended April 30, 

    2025  
    2024 

    Net sales 
    $17  
    $- 

    Cost of sales 
    $1,968  
    $64 

Note 10. Investments

Equity Method Investment
in Big River

The following table summarizes the Company’s
equity method investment at April 30, 2025 and January 31, 2025 (dollars in thousands):

    Carrying Amount 

    Entity 
    Ownership Percentage  
    April 30, 2025  
    January 31, 2025 

    Big River  
     10.3%  
     $36,806  
     $35,800 

Undistributed earnings of the Company’s
equity method investee totaled approximately $16.8 million and approximately $15.8 million at April 30, 2025 and January 31, 2025,
respectively. The Company did not receive dividends from its equity method investee in the first quarter of fiscal year 2025 or
2024.

18

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 April 30, 

    2025  
    2024 

    Net sales and revenue 
    $272,303  
    $272,986 

    Gross profit 
    $14,250  
    $18,262 

    Depreciation expense 
    $3,862  
    $6,546 

    Net income 
    $11,736  
    $19,162 

    Net income attributable to members 
    $9,675  
    $16,659 

Short-term Investments

At April