NET SALES AND REVENUE

12 Months Ended

Jan. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

2. NET SALES AND REVENUE

The Company recognizes sales of products when obligations under the terms of the respective contracts with customers are satisfied. This occurs with the transfer of control of products, generally upon shipment from the ethanol plant or upon loading of the rail car used to transport the products. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods. Sales, value added and other taxes the Company collects concurrent with revenue producing activities are excluded from net sales and revenue.

The majority of the Company’s sales have payment terms ranging from 5 to 10 days after transfer of control. The Company has determined that sales contracts do not generally include a significant financing component. The Company has not historically, and does not intend to, enter sales contracts in which payment is due from a customer prior to transferring product to the customer. Thus, the Company does not record unearned revenue.

	Fiscal Year
	2021			2020			2019
Sales of products, continuing operations:
Ethanol	$	613,597		$	284,191		$	321,434
Dried distillers grains		125,009			71,774			71,755
Non-food grade corn oil		38,852			15,066			17,135
Modified distillers grains		9,104			2,626			7,240
Derivative financial instruments losses		(12,109	)		(1,167	)		-
Other		349			174			136
Total sales	$	774,802		$	372,664		$	417,700
Sales of products, discontinued operations:
Refined coal1	$	400		$	182		$	334

¹ Refined coal sales were recorded net of the cost of coal as the Company purchased the coal feedstock from the customer to which the processed refined coal was sold.