Investments in Affiliates

12 Months Ended

Jul. 31, 2020

The Company held the following investments in equity method affiliates as of July 31, 2020:



Equity Method Affiliates	Ownership Interest
Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC (“SSF/VARE”)	50%
KRED	50%
Clinton Ditch and Reservoir Company	43%

The Company had total net investments in equity method affiliates of $10.2 million and $8.8 million as of July 31, 2020 and 2019, respectively, included within deferred charges and other assets in the accompanying Consolidated Balance Sheets. The amount of retained earnings that represent undistributed earnings of 50% or less owned entities accounted for by the equity method was $6.5 million and $5.4 million as of July 31, 2020 and 2019, respectively. During the years ended July 31, 2020, 2019 and 2018, distributions in the amounts of $0.7 million, $1.0 million and $1.5 million, respectively, were received from equity method affiliates.