Company: REX
Filing Date: 2025-09-02
Form Type: 10-Q
Source: 0000930413-25-002856
Chunk: 20

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-09-02
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 at July 31, 2025 and January 31, 2025 (dollars in thousands):

    Carrying Amount 
  
    Entity 
    Ownership Percentage  
    July 31, 2025  
    January 31, 2025 

    Big River 
     10.3%  
     $35,191  
     $35,800 

Undistributed earnings of the Company’s equity
method investee totaled approximately $15.2 million and approximately $15.8 million at July 31, 2025 and January 31, 2025, respectively.
The Company received dividends from its equity method investee of approximately $2.5 million in the first six months of 2025. The Company
did not receive dividends from its equity method investee in the first six months of fiscal year 2024.

19

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 July 31,  
    Six Months Ended July 31, 

    2025  
    2024  
    2025  
    2024 

    Net sales and revenue 
    $229,876  
    $260,202  
    $502,179  
    $533,188 
  
    Gross profit 
    $13,238  
    $22,852  
    $27,488  
    $41,114 
  
    Depreciation expense 
    $3,907  
    $6,660  
    $7,769  
    $13,206 
  
    Net income 
    $9,320  
    $20,064  
    $21,056  
    $39,226 
  
    Net income attributable to members 
    $6,102  
    $16,944  
    $15,777  
    $33,603 

Short-term Investments

At July 31, 2025, the Company owned United States
Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $69.5 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 July 31, 202