Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 18

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---
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 30, 2025, the Company owned United
States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $156.0
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 April 30, 2025 were approximately $94,000.

At January 31, 2025, the Company owned United
States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $162.8
million. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 4.4%.
Unrecognized holding losses at January 31, 2025 were approximately $19,000.

11. Employee Benefits

The Company maintains the
REX 2015 Incentive Plan, approved by its shareholders, which reserves a total of 1,650,000 shares of common stock for issuance
pursuant to its terms. The plan provides for the granting of shares of stock, including options to purchase shares of common stock,
stock appreciation rights tied to the value of common stock, restricted stock, and restricted stock unit awards to eligible employees,
non-employee directors and consultants. Until