Company: REX
Filing Date: 2025-12-04
Form Type: 10-Q
Source: 0000930413-25-003566
Chunk: 20

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-12-04
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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    $3,753  
    $4,163  
    $(2,362) 

Note 10. Investments 

Equity Method Investment
in Big River

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

         Carrying Amount

    Entity 
    Ownership Percentage 
    October 31, 2025 
    January 31, 2025

    Big River 
    10.3% 
    $39,579 
    $35,800

Undistributed earnings of the Company’s
equity method investee totaled approximately $20.1 million and approximately $15.8 million at October 31, 2025 and January 31,
2025, respectively. The Company received dividends from its equity method investee of approximately $2.5 million and $3.0 million
in the first nine months of 2025 and 2024, respectively.

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 October 31,  
    Nine Months Ended October 31, 

    2025  
    2024  
    2025  
    2024 

    Net sales and revenue 
    $293,088  
    $275,586  
    $795,267  
    $808,774 

    Gross profit 
    $57,842  
    $46,996  
    $85,330  
    $88,110 

    Depreciation expense 
    $3,495  
    $3,433  
    $11,263  
    $16,639 

    Net income 
    $54,389  
    $44,901  
    $75,445  
    $84,127 

    Net income attributable to members 
    $47,783  
    $38,708  
    $63,560  
    $72,311 

20

Short-term Investments

At October 31, 2025, the Company owned United
States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $63.5
million. The contractual maturity of these investments was less than