Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 43

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 1
Chunk 43
---
 Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

    REX American Resources Corporation
    Registrant

    Signature
     
    Title
     
    Date

    /s/ Zafar A. Rizvi

(Zafar A. Rizvi)

    Chief Executive Officer and President

(Chief Executive Officer)

    June 4, 2025

    /s/ Douglas L. Bruggeman

(Douglas L. Bruggeman)

    Vice President, Finance and Treasurer

(Chief Financial Officer)

    June 4, 2025

39

Forward purchase contracts assets are included in “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets. These contracts are for purchases of approximately 8.1 million and 16.8 million bushels of corn at April 30, 2025 and January 31, 2025, respectively.
Forward purchase contracts liabilities are included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Balance Sheets. These contracts are for purchases of approximately 9.5 million and 7.6 million bushels of corn at April 30, 2025 and January 31, 2025, respectively.
As of April 30, 2025 and January 31, 2025, all of the derivative financial instruments held by the Company were subject to enforceable master netting arrangements. The Company’s accounting policy is to offset position amounts owed or owing with the same counterparty. Depending on the amount of unrealized gains and losses on derivative contracts held by the Company, the counterparty may require collateral to secure the Company’s derivative contract positions. As of April 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.

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