DISCONTINUED OPERATIONS

12 Months Ended

Jan. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

14. DISCONTINUED OPERATIONS

On November 18, 2021, the Company ceased operation of its refined coal business as tax credits could no longer be earned on its operation. Beginning in the third quarter of fiscal year 2021, the results of the operations of the refined coal business have been recognized as discontinued operations. There were no amounts reclassified as discontinued operations in fiscal years 2023 and 2022.

Below is a table reflecting certain items of the Consolidated Condensed Statement of Operations that were reclassified as discontinued operations for fiscal year 2021 (amounts in thousands):

		2021
Net sales and revenue1	$	400
Cost of Sales		8,602
Gross loss		(8,202)
Selling, general and administrative		698
Loss before income taxes		(8,900)
Benefit for income taxes		13,295
Net income from discontinued operations, net of tax		4,395
Net loss attributable to noncontrolling interests2		397
Net income attributable to REX common shareholders	$	4,792

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.

² Net loss attributable to noncontrolling interest represents the minority investor’s share of the loss before income taxes as noncontrolling interests does not include any gain from the refined coal tax credits.

As of January 31, 2024 and 2023, there were no amounts on the balance sheet reclassified to discontinued operations.