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Restatement of the Consolidated Financial Statements (Tables)
 12 Months Ended
Jan. 31, 2016
Accounting Changes and Error Corrections [Abstract]  
Effects of Restatements on Financial Statements
The effects of the restatement on the Company's consolidated balance sheets as of January 31, 2016 are as follows (in thousands):
 
  
January 31, 2016
Consolidated Balance Sheet:
  
As Previously
Reported
 
Restatement
Adjustments
 
As Restated
Inventories
 
$
45,888

 
$
(49
)
 
$
45,839

Other current assets
 
4,884

 
(455
)
 
4,429

Total current assets
 
125,733

 
(504
)
 
125,229

Property, plant and equipment, net
  
116,162

  
(458
)
 
115,704

Goodwill
  
44,756

  
(4,084
)
 
40,672

Amortizable intangible assets, net
  
15,832

  
(2,876
)
 
12,956

Total assets
  
306,610

  
(7,922
)
 
298,688

Other liabilities
  
18,926

  
(3,286
)
  
15,640

Paid-in capital
 
54,830

 
(923
)
 
53,907

Retained earnings
  
233,156

 
(3,713
)
 
229,443

Total Raven Industries, Inc. shareholders' equity
  
268,791

  
(4,636
)
 
264,155

Total shareholders' equity
 
268,865

 
(4,636
)
 
264,229

Total liabilities and shareholders' equity
  
306,610

  
(7,922
)
 
298,688


The effects of the restatement on the Company's consolidated statements of income and comprehensive income for the year ended January 31, 2016 are as follows (in thousands):
 
 
Year Ended January 31, 2016
Consolidated Statements of Income and Comprehensive Income:
 
As Previously
Reported
 
Restatement
Adjustments
 
As Restated
Cost of sales
 
$
192,444

 
$
(1,189
)
 
$
191,255

Gross profit
 
65,785

 
1,189

 
66,974

Selling, general and administrative expenses
 
32,594

 
(20
)
 
32,574

Goodwill impairment loss
 
7,413

 
4,084

 
11,497

Long-lived asset impairment loss
 
—

 
3,826

 
3,826

Operating income
 
11,092

 
(6,701
)
 
4,391

Income before income taxes
 
10,782

 
(6,701
)
 
4,081

Income taxes (benefit) provision
 
2,221

 
(2,988
)
 
(767
)
Net income
 
8,561

 
(3,713
)
 
4,848

Net income attributable to Raven Industries, Inc.
 
8,489

 
(3,713
)
 
4,776

Net income per common share:
 
 
 
 
 
 
      ─ Basic
 
$
0.23

 
$
(0.10
)
 
$
0.13

      ─ Diluted
 
$
0.23

 
$
(0.10
)
 
$
0.13

 
 
 
 
 
 
 
Comprehensive income
 
10,909

 
(3,713
)
 
7,196

Comprehensive income attributable to Raven Industries, Inc.
 
10,837

 
(3,713
)
 
7,124


The effects of the restatement on the Company's consolidated statements of shareholders' equity as of or for the year ended January 31, 2016 are as follows (in thousands):
 
  
Year Ended January 31, 2016
Consolidated Statements of Shareholders' Equity:
  
As Previously
Reported
 
Restatement
Adjustments
 
As Restated
Net income
  
$
8,561

  
$
(3,713
)
 
$
4,848

Income tax impact related to share-based compensation
 
(308
)
 
(923
)
 
(1,231
)
Total shareholders' equity as of January 31, 2016
 
268,865

 
(4,636
)
 
264,229


The effects of the restatement on the Net cash provided by operating activities of our consolidated statements of cash flows for the year ended January 31, 2016 are as follows (in thousands):
 
  
Year Ended January 31, 2016
Consolidated Statements of Cash Flows:
  
As Previously
Reported
 
Restatement
Adjustments
 
As Restated
Net income
  
$
8,561

  
$
(3,713
)
 
$
4,848

Depreciation
 
13,951

 
(95
)
 
13,856

Amortization of intangible assets
 
3,658

 
(378
)
 
3,280

Goodwill impairment loss
  
7,413

  
4,084

 
11,497

Long-lived asset impairment loss
  
—

  
3,826

 
3,826

Change in fair value of acquisition-related contingent consideration
  
(721
)
  
(767
)
 
(1,488
)
Deferred income taxes
  
(3,021
)
  
(3,018
)
  
(6,039
)
Change in operating assets and liabilities
  
9,847

  
41

  
9,888

Other operating activities, net
 
2,092

 
20

 
2,112

Net cash provided by operating activities
 
44,008

 
—

 
44,008