View Filing Data

Print Document View Excel Document

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Apr. 30, 2013	May 30, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	REX AMERICAN RESOURCES Corp
Document Type	10-Q
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		8,165,338
Amendment Flag	false
Entity Central Index Key	0000744187
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Apr. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2013	Jan. 31, 2013
Current assets:
Cash and cash equivalents	$ 73,771	$ 69,073
Accounts receivable	17,918	11,567
Inventories	21,185	24,919
Refundable income taxes	1,284	1,347
Prepaid expenses and other	3,998	4,091
Deferred taxes, net	1,843	3,930
Total current assets	119,999	114,927
Property and equipment, net	218,828	223,180
Other assets	5,917	6,761
Equity method investments	61,323	59,959
Restricted investments and deposits	503	503
Total assets	406,570	405,330
Current liabilities:
Current portion of long-term debt	15,595	15,623
Accounts payable, trade	6,919	4,655
Deferred income	353	627
Accrued real estate taxes	2,874	2,651
Accrued payroll and related items	639	302
Derivative financial instruments	1,759	1,859
Other current liabilities	5,198	5,742
Total current liabilities	33,337	31,459
Long-term liabilities:
Long-term debt	87,133	91,306
Deferred taxes	7,154	7,141
Derivative financial instruments	586	930
Other long-term liabilities		211
Total long-term liabilities	94,873	99,588
REX shareholders’ equity:
Common stock	299	299
Paid-in capital	143,705	143,575
Retained earnings	325,535	322,028
Treasury stock	(219,676)	(219,550)
Total REX shareholders’ equity	249,863	246,352
Noncontrolling interests	28,497	27,931
Total equity	278,360	274,283
Total liabilities and equity	$ 406,570	$ 405,330

Consolidated Condensed Statements Of Operations - USD ($) shares in Thousands	3 Months Ended
	Apr. 30, 2013	Apr. 30, 2012
Net sales and revenue	$ 178,747,000	$ 151,006,000
Cost of sales	169,650,000	145,481,000
Gross profit	9,097,000	5,525,000
Selling, general and administrative expenses	(3,746,000)	(2,710,000)
Equity in income of unconsolidated ethanol affiliates	1,599,000	442,000
Interest income	25,000	36,000
Interest expense	(1,059,000)	(1,276,000)
Other income	17,000	2,000
Gains (losses) on derivative financial instruments, net	4,000	(147,000)
Income from continuing operations before income taxes	5,937,000	1,872,000
Provision for income taxes	(2,104,000)	(541,000)
Income from continuing operations	3,833,000	1,331,000
Income from discontinued operations, net of tax	109,000	169,000
Gain (loss) on disposal of discontinued operations, net of tax	131,000	(8,000)
Net income	4,073,000	1,492,000
Net income attributable to noncontrolling interests	(566,000)	(559,000)
Net income attributable to REX common shareholders	$ 3,507,000	$ 933,000
Weighted average shares outstanding - basic (in Shares)	8,158	8,360
Basic income per share from continuing operations attributable to REX common shareholders (in Dollars per share)	$ 0.40	$ 0.09
Basic income per share from discontinued operations attributable to REX common shareholders (in Dollars per share)	0.01	0.02
Basic income per share from disposal of discontinued operations attributable to REX common shareholders (in Dollars per share)	0.02
Basic net income per share attributable to REX common shareholders (in Dollars per share)	$ 0.43	$ 0.11
Weighted average shares outstanding - diluted (in Shares)	8,200	8,439
Diluted income per share from continuing operations attributable to REX common shareholders (in Dollars per share)	$ 0.40	$ 0.09
Diluted income per share from discontinued operations attributable to REX common shareholders (in Dollars per share)	0.01	0.02
Diluted income per share from disposal of discontinued operations attributable to REX common shareholders (in Dollars per share)	0.02
Diluted net income per share attributable to REX common shareholders (in Dollars per share)	$ 0.43	$ 0.11
Amounts attributable to REX common shareholders:
Income from continuing operations, net of tax	$ 3,267,000	$ 772,000
Income from discontinued operations, net of tax	240,000	161,000
Net income	$ 3,507,000	$ 933,000

Consolidated Condensed Statements Of Equity - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance at Jan. 31, 2012	$ 299	$ (215,105)	$ 142,994	$ 324,323	$ 29,332	$ 281,843
Balance (in Shares) at Jan. 31, 2012	29,853,000	21,523,000
Net income				933	559	1,492
Treasury stock acquired		$ (1,071)				$ (1,071)
Treasury stock acquired (in Shares)		33,000				32,935
Noncontrolling interests distribution and other					(526)	$ (526)
Stock options and related tax effects		$ 937	598			1,535
Stock options and related tax effects (in Shares)		(94,000)
Balance at Apr. 30, 2012	$ 299	$ (215,239)	143,592	325,256	29,365	283,273
Balance (in Shares) at Apr. 30, 2012	29,853,000	21,462,000
Balance at Jan. 31, 2013	$ 299	$ (219,550)	143,575	322,028	27,931	274,283
Balance (in Shares) at Jan. 31, 2013	29,853,000	21,701,000
Net income				3,507	566	4,073
Treasury stock acquired		$ (564)				(564)
Treasury stock acquired (in Shares)		31,000
Stock options and related tax effects		$ 438	130			568
Stock options and related tax effects (in Shares)		(43,000)
Balance at Apr. 30, 2013	$ 299	$ (219,676)	$ 143,705	$ 325,535	$ 28,497	$ 278,360
Balance (in Shares) at Apr. 30, 2013	29,853,000	21,689,000

Consolidated Condensed Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2013	Apr. 30, 2012
Cash flows from operating activities:
Net income including noncontrolling interests	$ 4,073	$ 1,492
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,391	4,021
Income from equity method investments	(1,599)	(442)
(Gain) loss on disposal of real estate and property and equipment	(4)	16
Dividends received from equity method investees	200	2,005
Deferred income	(274)	(590)
Derivative financial instruments	(444)	(336)
Deferred income tax	2,026
Changes in assets and liabilities:
Accounts receivable	(6,351)	(2,241)
Inventory	3,734	4,724
Refundable income taxes	150	552
Other assets	828	296
Accounts payable, trade	2,264	(996)
Other liabilities	(195)	(3,525)
Net cash provided by operating activities	8,799	4,976
Cash flows from investing activities:
Capital expenditures	(32)	(1,683)
Restricted investments		360
Proceeds from sale of real estate and property and equipment	141	478
Net cash provided by (used in) investing activities	109	(845)
Cash flows from financing activities:
Payments of long-term debt	(4,201)	(6,813)
Stock options exercised	555	259
Noncontrolling interests distribution and other		(526)
Treasury stock acquired	(564)
Net cash used in financing activities	(4,210)	(7,080)
Net increase (decrease) in cash and cash equivalents	4,698	(2,949)
Cash and cash equivalents, beginning of period	69,073	75,013
Cash and cash equivalents, end of period	$ 73,771	72,064
Non cash financing activities - Cashless exercise of stock options		$ 1,071

Consolidated Condensed Financial Statements

3 Months Ended

Apr. 30, 2013

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Note 1. Consolidated Condensed Financial Statements

The consolidated condensed financial statements included in this report have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission and include, in the opinion of management, all adjustments necessary to state fairly the information set forth therein. Any such adjustments were of a normal recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. Financial information as of January 31, 2013 included in these financial statements has been derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2013 (fiscal year 2012). It is suggested that these unaudited consolidated condensed financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2013. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the year.

Basis of Consolidation – The consolidated condensed financial statements in this report include the operating results and financial position of REX American Resources Corporation and its wholly and majority owned subsidiaries. The Company includes the results of operations of One Earth Energy, LLC (“One Earth”) in its Consolidated Condensed Statements of Operations on a delayed basis of one month.

Nature of Operations – The Company operates in two reportable segments, alternative energy and real estate. The Company substantially completed the exit of its retail business during the second quarter of fiscal year 2009, although it continues to recognize revenue and expense associated with administering extended service policies as discontinued operations.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2122150

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=28200181&loc=SL6228881-111685

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 272
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-SubTopic 15
-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 235
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7668296&loc=d3e288-107754

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

+ Details

Accounting Policies

3 Months Ended

Apr. 30, 2013

Significant Accounting Policies [Text Block]

Note 2. Accounting Policies

The interim consolidated condensed financial statements have been prepared in accordance with the accounting policies described in the notes to the consolidated financial statements included in the Company’s fiscal year 2012 Annual Report on Form 10-K. While management believes that the procedures followed in the preparation of interim financial information are reasonable, the accuracy of some estimated amounts is dependent upon facts that will exist or calculations that will be accomplished at fiscal year-end. Examples of such estimates include accrued liabilities, such as management bonuses, and the provision for income taxes. Any adjustments pursuant to such estimates during the quarter were of a normal recurring nature. Actual results could differ from those estimates.

Revenue Recognition

The Company recognizes sales from the production of ethanol, distillers grains and non-food grade corn oil when title transfers to customers, upon shipment from its plant. Shipping and handling charges billed to customers are included in net sales and revenue.

The Company includes income from real estate leasing activities in net sales and revenue. The Company accounts for these leases as operating leases. Accordingly, minimum rental revenue is recognized on a straight-line basis over the term of the lease.

Prior to its exit of the retail business, the Company sold extended service policies covering periods beyond the normal manufacturers’ warranty periods, usually with terms of coverage (including manufacturers’ warranty periods) of between 12 to 60 months. Contract revenues and sales commissions are deferred and amortized on a straight-line basis over the life of the contracts after the expiration of applicable manufacturers’ warranty periods. The Company retains the obligation to perform warranty service and such costs are charged to operations as incurred. All related revenue and expense is classified as discontinued operations.

Cost of Sales

Alternative energy cost of sales includes depreciation, costs of raw materials, inbound freight charges, purchasing and receiving costs, inspection costs, shipping costs, other distribution expenses, warehousing costs, plant management, certain compensation costs, and general facility overhead charges.

Real estate cost of sales includes depreciation, real estate taxes, insurance, repairs and maintenance and other costs directly associated with operating the Company’s portfolio of real property.

Selling, General and Administrative Expenses

The Company includes non-production related costs from its alternative energy segment such as professional fees, selling charges and certain payroll in selling, general and administrative expenses.

The Company includes costs not directly related to operating its portfolio of real property from its real estate segment such as certain payroll and related costs, professional fees and other general expenses in selling, general and administrative expenses.

The Company includes costs associated with its corporate headquarters such as certain payroll and related costs, professional fees and other general expenses in selling, general and administrative expenses.

Interest Cost

0 interest was capitalized for the three months ended April 30, 2013 and 2012. Cash paid for interest for the three months ended April 30, 2013 and 2012 was approximately $981,000 and $1,582,000, respectively.

Financial Instruments

The Company uses derivative financial instruments to manage its balance of fixed and variable rate debt. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. Interest rate swap agreements involve the exchange of fixed and variable rate interest payments and do not represent an actual exchange of the notional amounts between the parties. The swap agreement was not designated for hedge accounting pursuant to Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging (“ASC 815”). The interest rate swap is recorded at its fair value and the changes in fair value are recorded as gain or loss on derivative financial instruments in the Consolidated Condensed Statements of Operations. The Company paid settlements of the interest rate swap of approximately $440,000 and $483,000 for the three months ended April 30, 2013 and 2012, respectively.

Forward grain purchase and ethanol, distillers grains and non-food grade corn oil sale contracts are accounted for under the “normal purchases and normal sales” scope exemption of ASC 815 because these arrangements are for purchases of grain that will be delivered in quantities expected to be used by the Company and sales of ethanol, distillers grains and non-food grade corn oil quantities expected to be produced by the Company over a reasonable period of time in the normal course of business.

Income Taxes

The Company applies an effective tax rate to interim periods that is consistent with the Company’s estimated annual tax rate. The Company provides for deferred tax liabilities and assets for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. The Company provides for a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company paid 0 income taxes during the three months ended April 30, 2013 or April 30, 2012. The Company received 0 income tax refunds during the three months ended April 30, 2013 or 2012.

As of April 30, 2013, total unrecognized tax benefits were approximately $1,768,000 and accrued penalties and interest were approximately $405,000. If the Company were to prevail on all unrecognized tax benefits recorded, approximately $82,000 of the reserve would benefit the effective tax rate. In addition, the impact of penalties and interest would also benefit the effective tax rate. Interest and penalties associated with unrecognized tax benefits are recorded within income tax expense. On a quarterly and annual basis, the Company accrues for the effects of open uncertain tax positions and the related potential penalties and interest.

Inventories

Inventories are carried at the lower of cost or market on a first-in, first-out basis. Alternative energy segment inventory includes direct production costs and certain overhead costs such as depreciation, property taxes and utilities related to producing ethanol and related by-products. Inventory is permanently written down for instances when cost exceeds estimated net realizable value; such write-downs are based primarily upon commodity prices as the market value of inventory is often dependent upon changes in commodity prices. The write-down of inventory was approximately $1,000 and $466,000 at April 30, 2013 and January 31, 2013, respectively. Fluctuations in the write-down of inventory generally relate to the levels and composition of such inventory at a given point in time. The components of inventory at April 30, 2013 and January 31, 2013 are as follows (amounts in thousands):

	April 30, 2013		January 31, 2013

Ethanol and other finished goods	$	7,468	$	7,306
Work in process		4,744		4,414
Grain and other raw materials		8,973		13,199
Total	$	21,185	$	24,919

Property and Equipment

Property and equipment is recorded at cost. Depreciation is computed using the straight-line method. Estimated useful lives are 15 to 40 years for buildings and improvements, and 3 to 20 years for fixtures and equipment.

In accordance with ASC 360-10 “Impairment or Disposal of Long-Lived Assets”, the carrying value of long-lived assets is assessed for recoverability by management when changes in circumstances indicate that the carrying amount may not be recoverable, based on an analysis of undiscounted future expected cash flows from the use and ultimate disposition of the asset. There were 0 impairment charges in the first quarters of fiscal years 2013 and 2012. Impairment charges result from the Company’s management performing cash flow analysis and represent management’s estimate of the excess of net book value over fair value. Fair value is estimated using expected future cash flows on a discounted basis or appraisals of specific properties as appropriate. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Given the nature of the Company’s business, events and changes in circumstances include, but are not limited to, a significant decline in estimated future cash flows, a sustained decline in market prices for similar assets, or a significant adverse change in legal or regulatory factors or the business climate. A significant decline in estimated future cash flows is represented by a greater than 25% annual decline in expected future cash flows (for asset groups in the real estate reportable segment) or a change in the spread between ethanol and grain prices that would result in greater than six consecutive months of estimated or actual significant negative cash flows (for asset groups in the alternative energy reportable segment).

The Company tests for recoverability of an asset group by comparing its carrying amount to its estimated undiscounted future cash flows. If the carrying amount of an asset group exceeds its estimated undiscounted future cash flows, the Company recognizes an impairment charge for the amount by which the asset group’s carrying amount exceeds its fair value, if any. The Company generally determines the fair value of the asset group using a discounted cash flow model based on market participant assumptions (for income producing asset groups) or by obtaining appraisals based on the market approach and comparable market transactions (for non-income producing asset groups).

In the real estate reportable segment, each individual real estate property represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. As such, the Company separately tests individual real estate properties for recoverability. The real estate reportable segment includes both income producing and non-income producing asset groups.

In the alternative energy reportable segment, each individual ethanol plant represents the lowest level for which identifiable cash flows are independent of the cash flows of other assets and liabilities. As such, the Company separately tests individual ethanol plants for recoverability. In addition to the general events and changes in circumstances noted above that indicate that an asset group may not be recoverable, the Company also considers the following events as indicators: the decision to suspend operations at a plant for at least a six month period, or an expected or actual failure to maintain compliance with debt covenants. The alternative energy reportable segment includes only income producing asset groups.

Investments and Deposits

Restricted investments, which are principally money market mutual funds and cash deposits, are stated at cost plus accrued interest, which approximates fair value. Restricted investments at April 30, 2013 and January 31, 2013 are required by two states to cover possible future claims under extended service policies over the remaining lives of the service policy contracts. In accordance with ASC 320, “Investments-Debt and Equity Securities” the Company has classified these investments as available for sale.

The method of accounting applied to long-term investments, whether consolidated, equity or cost, involves an evaluation of the significant terms of each investment that explicitly grant or suggest evidence of control or influence over the operations of the investee and also includes the identification of any variable interests in which the Company is the primary beneficiary. The Company consolidates the results of two majority owned subsidiaries, One Earth and NuGen. The results of One Earth are included on a delayed basis of one month. The Company accounts for investments in limited liability companies in which it may have a less than 20% ownership interest, using the equity method of accounting when the factors discussed in ASC 323, “Investments-Equity Method and Joint Ventures” are met. The excess of the carrying value over the underlying equity in the net assets of equity method investees is allocated to specific assets and liabilities. Any unallocated excess is treated as goodwill and is recorded as a component of the carrying value of the equity method investee. Investments in businesses that the Company does not control but for which it has the ability to exercise significant influence over operating and financial matters are accounted for using the equity method. Investments in which the Company does not have the ability to exercise significant influence over operating and financial matters are accounted for using the cost method. The Company accounts for its investments in Big River Resources, LLC (“Big River”) and Patriot Holdings, LLC (“Patriot”) using the equity method of accounting and includes the results of these entities on a delayed basis of one month.

The Company periodically evaluates its investments for impairment due to declines in market value considered to be other than temporary. Such impairment evaluations include, in addition to persistent, declining market prices, general economic and company-specific evaluations. If the Company determines that a decline in market value is other than temporary, then a charge to earnings is recorded in the Consolidated Condensed Statements of Operations and a new cost basis in the investment is established.

Accounting Changes and Recently Issued Accounting Standards

Effective February 1, 2013, the Company was required to adopt the amended guidance in ASC 220 “Comprehensive Income”. This amendment requires disclosure of additional information regarding reclassification adjustments out of accumulated other comprehensive income including presentation of the amounts and individual income statement line items affected. This amendment is in addition to ASC 220 guidance adopted on February 1, 2012, which increased the prominence of other comprehensive income in the financial statements by eliminating the option to present other comprehensive income in the statement of stockholders’ equity, and rather requiring comprehensive income to be reported in either a single continuous statement or in two separate but consecutive statements reporting net income and other comprehensive income. The adoption of this amended guidance did not impact the Company’s consolidated condensed financial statements.

Effective February 1, 2013, the Company was required to adopt the third phase of amended guidance in ASC 820 “Fair Value Measurements and Disclosures”. The amendment established common fair value measurement and disclosure requirements by improving comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and those prepared in conformity with International Financial Reporting Standards. The amended guidance clarified the application of existing requirements and requires additional disclosure for Level 3 measurements regarding the sensitivity of fair value to changes in unobservable inputs and any interrelationships between those inputs. The adoption of this amended guidance did expand disclosure related to fair value but, otherwise, did not impact the Company’s consolidated condensed financial statements.

Leases

3 Months Ended

Apr. 30, 2013

Leases of Lessor Disclosure [Text Block]

Note 3. Leases

At April 30, 2013, the Company has lease agreements, as landlord, for all or portions of six owned former retail stores and one owned former distribution center. All of the leases are accounted for as operating leases. The following table is a summary of future minimum rentals on such leases (amounts in thousands):

Years Ended January 31,	Minimum Rentals

Remainder of 2014	$	1,061
2015		1,070
2016		511
2017		443
2018		232
Thereafter		1,220
Total	$	4,537

- Definition

The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases.

+ References + Details

Fair Value

3 Months Ended

Apr. 30, 2013

Fair Value Disclosures [Text Block]

Note 4. Fair Value

The Company applies ASC 820, Fair Value Measurements and Disclosures, (“ASC 820”) which provides a framework for measuring fair value under GAAP. This accounting standard defines fair value as the exchange price that would be receivedfor an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

The Company determines the fair market values of its financial instruments based on the fair value hierarchy established by ASC 820. ASC 820 requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values which are provided below. The Company carries cash equivalents, investment in cooperative, restricted investments and derivative liabilities at fair value.

Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securitiesand derivative contracts that are traded in an active exchange market, as well as certain U.S. Treasury securities that are highly liquid and are actively traded in over-the-counter markets.

Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally or corroborated by observable market data.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methods, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Unobservable inputs shall be developed based on the best information available, which may include the Company’s own data.

The fair values of interest rate swaps are determined by using quantitative models that discount future cash flows using the LIBOR forward interest rate curve. Estimation risk is greater for derivative asset and liability positions that are either option-based or have longer maturity dates where observable market inputs are less readily available or are unobservable, in which case interest rate, price or index scenarios are extrapolated in order to determine the fair value. The fair values of derivative assets and liabilities include adjustments for market liquidity, counterparty credit quality, the Company’s own credit standing and other specific factors, where appropriate.

The fair values of property and equipment, as applicable, are determined by using various models that discount future expected cashflows. Estimation risk is greater for vacant properties as the probability of expected cash flows from the use of vacant properties is difficult to predict.

To ensure the prudent application of estimates and management judgment in determining the fair values of derivative assets and liabilitiesand property and equipment, various processes and controls have been adopted, which include: model validation that requires a review and approval for pricing, financial statement fair value determination and risk quantification; periodic review and substantiation of profit and loss reporting for all derivative instruments and property and equipment items.

Financial assets and liabilities measured at fair value on a recurring basis at April 30, 2013 are summarized below (amounts in thousands):

	Level 1		Level 2		Level 3		Fair Value

Cash equivalents	$	2	$	—	$	—	$	2
Money market mutual fund (1)		300		—		—		300
Investment in cooperative (1)		—		—		252		252
Total assets	$	302	$	—	$	252	$	554
Interest rate swap derivative liability	$	—	$	2,345	$	—	$	2,345

Financial assetsand liabilities measured at fair value on a recurring basis at January 31, 2013 are summarized below (amounts in thousands):

	Level 1		Level 2		Level 3		Fair Value

Cash equivalents	$	2	$	—	$	—	$	2
Money market mutual fund (1)		300		—		—		300
Investment in cooperative (1)		—		—		252		252
Total assets	$	302	$	—	$	252	$	554
Interest rate swap derivative liability	$	—	$	2,789	$	—	$	2,789

(1) The money market mutual fund is included in “Restricted investments and deposits” and the investment in cooperative is included in “Other assets” on the accompanying Consolidated Condensed Balance Sheets.

The following table provides a reconciliation of the activity related to assets (investment in cooperative) measured at fair value on a recurring basis using Level 3 inputs (amounts in thousands):

Balance, January 31, 2013	$	252
Current period activity		—
Balance, April 30, 2013	$	252

The Company determined the fair value of the investment in cooperative by using a discounted cash flow analysis on the expected cash flows. Inputs used in the analysis include the face value of the allocated equity amount, the projected term for repayment based upon a historical trend, and a risk adjusted discount rate based on the expected compensation participants would demand because of the uncertainty of the future cash flows. The inherent risk and uncertainty associated with unobservable inputs could have a significant effect on the actual fair value of the investment.

There were no assets measured at fair value on a non-recurring basis subsequent to January 31, 2013.

Assets measured at fair value on a non-recurring basis as of January 31, 2013 are summarized below (amounts in thousands):

		Level 1				Level 2				Level 3				Total Losses (1)
Property and equipment, net		$	—			$	—			$	2,096			$	419

(1)

Total losses include impairment charges and loss on disposal.

The fair value of the Company’s debt is approximately $102.8 million and $107.0 million at April 30, 2013 and January 31, 2013, respectively. The fair value was estimated with Level 2 inputs using a discounted cash flow analysis and the Company’s estimate of market rates of interest for similar loan agreements with companies that have a similar credit risk.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment

3 Months Ended

Apr. 30, 2013

Property, Plant and Equipment Disclosure [Text Block]

Note 5. Property and Equipment

The components of property and equipment at April 30, 2013 and January 31, 2013 are as follows (amounts in thousands):

	April 30, 2013			January 31, 2013

Land and improvements	$	23,893		$	23,980
Buildings and improvements		37,993			38,056
Machinery, equipment and fixtures		221,666			221,638
Construction in progress		43			39
		283,595			283,713
Less: accumulated depreciation		(64,767	)		(60,533	)

	$	218,828		$	223,180

Other Assets

3 Months Ended

Apr. 30, 2013

Other Assets Disclosure [Text Block]

Note 6. Other Assets

The components of other assets at April 30, 2013 and January 31, 2013 are as follows (amounts in thousands):

	April 30, 2013		January 31, 2013

Deferred financing costs, net	$	672	$	781
Prepaid commissions		94		164
Deposits		2,064		2,064
Real estate taxes refundable		2,614		2,614
Other		473		1,138
Total	$	5,917	$	6,761

Long Term Debt and Interest Rate Swaps

3 Months Ended

Apr. 30, 2013

Long-term Debt [Text Block]

Note 7. Long Term Debt and Interest Rate Swaps

One Earth Energy Subsidiary Level Debt

In September 2007, One Earth entered into a $111,000,000 financing agreement consisting of a construction loan agreement for $100,000,000 together with a $10,000,000 annually renewable revolving loan and a $1,000,000 letter of credit with First National Bank of Omaha (“the Bank”). The construction loan was converted into a term loan on July 31, 2009. The term loan bears interest at variable interest rates ranging from LIBOR plus 280 basis points to LIBOR plus 300 basis points (3.1% -3.3% at April 30, 2013). Beginning with the first quarterly payment on October 8, 2009, payments are due in 19 quarterly payments of principal plus accrued interest with the principal portion calculated based on a 120 month amortization schedule. One final installment will be required on the maturity date (July 31, 2014) for the remaining unpaid principal balance with accrued interest. Principal payments equal to 20% of annual excess cash flows are also due. Such payments cannot exceed $6 million in a year.

Borrowings are secured by all of the assets of One Earth. This debt is recourse only to One Earth and not to REX American Resources Corporation or any of its other subsidiaries. As of April 30, 2013, approximately $55.4 million was outstanding on the term loan. One Earth is also subject to certain financial covenants under the loan agreement, including debt service coverage ratio requirements and working capital requirements. One Earth was in compliance with these covenants, as applicable, at April 30, 2013. On March 13, 2013, One Earth entered into an amendment of its loan agreement with the Bank. This amendment included:

	1)	a permanent waiver, by the lender, of the requirement to maintain the fixed charge coverage ratio at December 31, 2012 and

	2)	a modification of the covenant regarding maintenance of the fixed charge coverage ratio to a requirement that One Earth maintain a fixed charge coverage ratio of not less than 1.10 to 1.00 to be met annually beginning December 31, 2013.

Based on the Company’s forecasts, which are primarily based on estimates of plant production, prices of ethanol, corn, distillers grains, non-food grade corn oil and natural gas as well as other assumptions management believes to be reasonable, management believes that One Earth will be able to maintain compliance with the covenants pursuant to its loan agreement with the Bank for the next 12 months. Management also believes that cash flow from operating activities together with working capital will be sufficient to meet One Earth’s liquidity needs.

One Earth has paid approximately $1.4 million in financing costs. These costs are recorded as deferred financing costs and are amortized ratably over the term of the loan.

The Company’s proportionate share of restricted net assets related to One Earth was approximately $78.9 million and $77.9 million at April 30, 2013 and January 31, 2013, respectively. Restricted net assets may not be paid in the form of dividends or advances to the parent company or other members of One Earth per the terms of the loan agreement with the Bank.

As of the end of its first quarter, One Earth has 0 outstanding borrowings on the $10,000,000 revolving loan, which expires on May 31, 2014, nor any outstanding letters of credit.

One Earth entered into a forward interest rate swap in the notional amount of $50.0 million with the Bank. The swap settlements commenced as of July 31, 2009 and terminate on July 8, 2014. The swap fixed a portion of the variable interest rate of the term loan subsequent to the plant completion date at 7.9%. At April 30, 2013 and January 31, 2013, the Company recorded a liability of approximately $2.3 million and $2.8 million, respectively, related to the fair value of the swap. The change in fair value is recorded in the Consolidated Condensed Statements of Operations.

NuGen Energy Subsidiary Level Debt

In November 2011, NuGen entered into a $65,000,000 financing agreement consisting of a term loan for $55,000,000 and a $10,000,000 annually renewable revolving loan with First National Bank of Omaha (“the Bank”). The term loan bears interest at a variable interest rate of LIBOR plus 325 basis points, subject to a 4% floor (4% at April 30, 2013). Beginning with the first quarterly payment on February 1, 2012, payments are due in 19 quarterly payments of principal plus accrued interest with the principal portion calculated based on a 120 month amortization schedule. One final installment will be required on the maturity date (October 31, 2016) for the remaining unpaid principal balance with accrued interest. Principal payments equal to 40% of annual excess cash flows are also due. Such payments cannot exceed $5 million in a year.

Borrowings are secured by all of the assets of NuGen. This debt is recourse only to NuGen and not to REX American Resources Corporation or any of its other subsidiaries. As of April 30, 2013, approximately $46.8 million was outstanding on the term loan. NuGen is also subject to certain financial covenants under the loan agreement, including debt service coverage ratio requirements and working capital requirements. NuGen was in compliance with these covenants, as applicable, at April 30, 2013. On March 13, 2013, NuGen entered into an amendment of its loan agreement with the Bank. This amendment included:

	1)	a permanent waiver, by the lender, of the requirement to maintain the fixed charge coverage ratio at January 31, 2013 and

	2)	a modification of the covenant regarding maintenance of the fixed charge coverage ratio to a requirement that NuGen maintain a fixed charge coverage ratio of not less than 1.10 to 1.00 to be met annually beginning January 31, 2014 and

	3)	a modification of the covenant regarding maintenance of working capital levels to a requirement that NuGen maintain minimum working capital of not less than $7.5 million measured at its quarters ending April 30, 2013, July 31, 2013, and October 31, 2013. As of January 31, 2014 and thereafter, NuGen shall maintain minimum working capital of not less than $10.0 million.

Based on the Company’s forecasts, which are primarily based on estimates of plant production, prices of ethanol, corn, distillers grains, non-food grade corn oil and natural gas as well as other assumptions management believes to be reasonable, management believes that NuGen will be able to maintain compliance with the covenants pursuant to its loan agreement with the Bank for the next 12 months. Management also believes that cash flow from operating activities together with working capital will be sufficient to meet NuGen’s liquidity needs.

NuGen has paid approximately $0.6 million in financing costs. These costs are recorded as deferred financing costs and are amortized ratably over the term of the loan.

The Company’s proportionate share of restricted net assets related to NuGen was approximately $51.3 million and approximately $49.5 million at April 30, 2013 and January 31, 2013, respectively. Restricted net assets may not be paid in the form of dividends or advances to the parent company or other members of NuGen per the terms of the loan agreement with the Bank.

NuGen has 0 outstanding borrowings on the $10,000,000 revolving loan as of April 30, 2013 which expires on May 31, 2014.

Financial Instruments

3 Months Ended

Apr. 30, 2013

Financial Instruments Disclosure [Text Block]

Note 8. Financial Instruments

The Company uses an interest rate swap to manage its interest rate exposure at One Earth by fixing the interest rate on a portion of the entity’s variable rate debt. The Company does not engage in trading activities involving derivative contracts for which a lack of marketplace quotations would necessitate the use of fair value estimation techniques. The notional amount and fair value of the derivative, which is not designated as a cash flow hedge at April 30, 2013, are summarized in the table below (amounts in thousands):

	Notional Amount		Fair Value Liability

Interest rate swap	$	36,759	$	2,345

As the interest rate swap is not designated as a cash flow hedge, the unrealized gain and loss on the derivative is reported in current earnings. The Company reported gains of $4,000 in the first quarter of fiscal year 2013 and losses of $147,000 in the first quarter of fiscal year 2012.

Stock Option Plans

3 Months Ended

Apr. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 9. Stock Option Plans

The Company has stock-based compensation plans under which stock options have been granted to directors, officers and key employees at the market price on the date of the grant. 0 options have been granted since fiscal year 2004.

The total intrinsic value of options exercised during the three months ended April 30, 2013 and 2012 was approximately $0.3 million and $1.7 million, respectively, resulting in tax deductions of approximately $0.1 million and $0.2 million, respectively. The following table summarizes options granted, exercised and canceled or expired during the three months ended April 30, 2013:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 31, 2013		168,755		$	12.46
Exercised		(43,305	)	$	12.82
Outstanding and exercisable at April 30, 2013		125,450		$	12.34		0.9	$	797

During the first three months of fiscal year 2012, certain officers and directors of the Company tendered 32,935 shares of the Company’s common stock as payment of the exercise price of stock options exercised pursuant to the Company’s Stock-for-Stock and Cashless Option Exercise Rules and Procedures, adopted on June 4, 2001. The purchase price was $32.53 per share.

At April 30, 2013, there was 0 unrecognized compensation cost related to nonvested stock options.

Income Per Share from Continuing Operations Attributable to REX Common Shareholders

3 Months Ended

Apr. 30, 2013

Earnings Per Share [Text Block]

Note 10. Income Per Share from Continuing Operations Attributable to REX Common Shareholders

The following table reconciles the computation of basic and diluted net income per share from continuing operations for the periods presented (in thousands, except per share amounts):

	Three Months Ended April 30, 2013						Three Months Ended April 30, 2012
	Income		Shares		Per Share		Income		Shares		Per Share
Basic income per share from continuing operations attributable to REX common shareholders	$	3,267		8,158	$	0.40	$	772		8,360	$	0.09
Effect of stock options		—		42				—		79
Diluted income per share from continuing operations attributable to REX common shareholders	$	3,267		8,200	$	0.40	$	772		8,439	$	0.09

For the three months ended April 30, 2013 and 2012, all shares subject to outstanding options were dilutive.

Investments and Restricted Deposits

3 Months Ended

Apr. 30, 2013

Investments And Deposits [Text Block]

Note 11. Investments and Restricted Deposits

The Company has approximately $203,000 at April 30, 2013 and January 31, 2013 on deposit with the Florida Department of Financial Services to secure its obligation to fulfill future obligations related to extended warranty contracts sold in the state of Florida. As such, this deposit is restricted from use for general corporate purposes.

In addition to the deposit with the Florida Department of Financial Services, the Company has $300,000 at April 30, 2013 and January 31, 2013 invested in a money market mutual fund to satisfy Florida Department of Financial Services regulations. As such, this investment is restricted from use for general corporate purposes.

The following table summarizes equity method investments at April 30, 2013 and January 31, 2013 (amounts in thousands):

Entity	Ownership Percentage			Carrying Amount April 30, 2013		Carrying Amount January 31, 2013

Big River		10	%	$	32,882	$	32,438
Patriot		27	%		28,441		27,521
Total Equity Method Investments				$	61,323	$	59,959

The following table summarizes income or (loss) recognized from equity method investments for the periods presented (amounts in thousands):

	Three Months Ended April 30,
	2013		2012

Big River	$	644	$	557
Patriot		955		(115	)
Total	$	1,599	$	442

Undistributed earnings of Big River and Patriot totaled approximately $22.6 million and $21.2 million at April 30, 2013 and January 31, 2013, respectively. During the first three months of fiscal years 2013 and 2012, the Company received dividends from equity method investees of approximately $0.2 million and $2.0 million, respectively.

Summarized financial information for each of the Company’s equity method investees is presented in the following table for the three months ended April 30, 2013 and 2012 (amounts in thousands):

	Three Months Ended April 30, 2013
	Patriot		Big River

Net sales and revenue	$	94,093	$	294,628
Gross profit	$	5,142	$	15,619
Income from continuing operations	$	3,599	$	6,632
Net income	$	3,599	$	6,632

	Three Months Ended April 30, 2012
	Patriot			Big River

Net sales and revenue	$	89,812		$	291,003
Gross profit	$	1,777		$	14,008
(Loss) income from continuing operations	$	(436	)	$	5,718
Net (loss) income	$	(436	)	$	5,718

Patriot and Big River have debt agreements that limit and restrict amounts the companies can pay in the form of dividends or advances to owners. The restricted net assets of Patriot and Big River combined at April 30, 2013 and January 31, 2013 are approximately $370.4 million and $367.6 million, respectively.

Income Taxes

3 Months Ended

Apr. 30, 2013

Income Tax Disclosure [Text Block]

Note 12. Income Taxes

The effective tax rate on consolidated pre-tax income from continuing operations was 35.4% for the three months ended April 30, 2013, and 28.9% for the three months ended April 30, 2012. The fluctuations in the effective tax rate primarily relate to the presentation of noncontrolling interests in the income of consolidated subsidiaries as noncontrolling interests are presented in the Consolidated Condensed Statements of Operations after the income tax provision or benefit. Net income attributable to noncontrolling interests was a higher percentage of income from continuing operations before income taxes in the first quarter of fiscal year 2012 compared to the first quarter of fiscal year 2013.

The Company files a U.S. federal income tax return and income tax returns in various states. In general, the Company is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for years ended January 31, 2009 and prior. A reconciliation of the beginning and ending amount of unrecognized tax benefits, including interest and penalties, is as follows (amounts in thousands):

Unrecognized tax benefits, January 31, 2013	$	2,157
Changes for prior years’ tax positions		16
Changes for current year tax positions		—
Unrecognized tax benefits, April 30, 2013	$	2,173

Discounted Operations

3 Months Ended

Apr. 30, 2013

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

Note 13. Discontinued Operations

During fiscal year 2009, the Company completed the exit of its retail business. Accordingly, all operations of the Company’s former retail segment and certain sold properties have been classified as discontinued operations for all periods presented. Once real estate property has been sold, and no continuing involvement is expected, the Company classifies the results of the operations as discontinued operations. The results of operations were previously reported in the Company’s retail or real estate segment, depending on when the store ceased operations. Below is a table reflecting certain items of the Consolidated Condensed Statements of Operations that were reclassified as discontinued operations for the periods indicated (amounts in thousands):

	Three Months Ended April 30,
	2013			2012

Net sales and revenue	$	258		$	597
Cost of sales		9			125
Income before income taxes		179			281
Provision for income taxes		(70	)		(112	)
Income from discontinued operations, net of tax	$	109		$	169
Gain (loss) on disposal	$	215		$	(14	)
(Provision) benefit for income taxes		(84	)		6
Gain (loss) on disposal of discontinued operations, net of tax	$	131		$	(8	)

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

+ Details

Commitments and Contingencies

3 Months Ended

Apr. 30, 2013

Commitments and Contingencies Disclosure [Text Block]

Note 14. Commitments and Contingencies

The Company is involved in various legal actions arising in the normal course of business. After taking into consideration legal counsels’ evaluations of such actions, management is of the opinion that their outcome will not have a material effect on the Company’s consolidated condensed financial statements.

One Earth and NuGen have combined forward purchase contracts for approximately 22.7 million bushels of corn, the principal raw material for their ethanol plants. They expect to take delivery of the grain through July 2013.

One Earth and NuGen have combined sales commitments for approximately 40.8 million gallons of ethanol, approximately 63,000 tons of distillers grains and approximately 4.3 million pounds of non-food grade corn oil. They expect to deliver the ethanol, distillers grains and non-food grade corn oil through July 2013.

Segment Reporting

3 Months Ended

Apr. 30, 2013

Segment Reporting Disclosure [Text Block]

Note 15. Segment Reporting

The Company has two segments: alternative energy and real estate. The Company evaluates the performance of each reportable segment based on segment profit. Segment profit excludes income taxes, indirect interest expense, discontinued operations, indirect interest income and certain other items that are included in net income determined in accordance with GAAP. Segment profit includes realized and unrealized gains and losses on derivative financial instruments. The following table summarizes segment and other results and assets (amounts in thousands):

	Three Months Ended April 30,
	2013		2012
Net sales and revenue:
Alternative energy	$	178,324	$	150,664
Real estate		423		342
Total net sales and revenue	$	178,747	$	151,006

Segment gross profit:
Alternative energy	$	9,026	$	5,510
Real estate		71		15
Total gross profit	$	9,097	$	5,525

	Three Months Ended April 30,
	2013			2012
Segment profit (loss):
Alternative energy	$	6,626		$	2,469
Real estate		8			(60	)
Corporate expense		(701	)		(548	)
Interest expense		(14	)		(18	)
Interest income		18			29
Income from continuing operations before income taxes	$	5,937		$	1,872

		April 30, 2013		January 31, 2013
Assets:
Alternative energy	$	341,863	$	337,857
Real estate		12,271		13,326
Corporate		52,436		54,147
Total assets	$	406,570	$	405,330

	Three Months Ended April 30,
	2013			2012
Sales of products alternative energy segment:
Ethanol		74	%		78	%
Dried distillers grains		17	%		17	%
Modified distillers grains		6	%		3	%
Other		3	%		2	%
Total		100	%		100	%

Sales of services real estate segment:
Lease revenue		100	%		100	%

Certain corporate costs and expenses, including information technology, employee benefits and other shared services are allocated to the business segments. The allocations are generally amounts agreed upon by management and are based on a reasonable and systematic approach, which may differ from amounts that would be incurred if such services were purchased separately by the business segment. Corporate assets are primarily cash and deferred income tax benefits.

Cash, except for cash held by One Earth and NuGen, is considered to be fungible and available for both corporate and segment use depending on liquidity requirements. Cash of approximately $25.4 million held by One Earth and NuGen will be used primarily to fund working capital needs for the subsidiaries.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Related-Party Transactions

3 Months Ended

Apr. 30, 2013

Note 16. Related-Party Transactions

During the first quarter of fiscal year 2013 and 2012, One Earth purchased approximately $71.7 million and $56.5 million of corn, respectively, from the Alliance Grain Elevator, an equity investor in One Earth.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Accounting Policies, by Policy (Policies)

3 Months Ended

Apr. 30, 2013

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

Cost of Sales, Policy [Policy Text Block]

Cost of Sales

Real estate cost of sales includes depreciation, real estate taxes, insurance, repairs and maintenance and other costs directly associated with operating the Company’s portfolio of real property.

Selling, General and Administrative Expenses, Policy [Policy Text Block]

Selling, General and Administrative Expenses

The Company includes non-production related costs from its alternative energy segment such as professional fees, selling charges and certain payroll in selling, general and administrative expenses.

Interest Expense, Policy [Policy Text Block]

Interest Cost

Fair Value of Financial Instruments, Policy [Policy Text Block]

Financial Instruments

Income Tax, Policy [Policy Text Block]

Income Taxes

Inventory, Policy [Policy Text Block]

Inventories

	April 30, 2013		January 31, 2013

Ethanol and other finished goods	$	7,468	$	7,306
Work in process		4,744		4,414
Grain and other raw materials		8,973		13,199
Total	$	21,185	$	24,919

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Investment, Policy [Policy Text Block]

Investments and Deposits

New Accounting Pronouncements, Policy [Policy Text Block]

Accounting Changes and Recently Issued Accounting Standards

Accounting Policies (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Inventory, Current [Table Text Block]

The components of inventory at April 30, 2013 and January 31, 2013 are as follows (amounts in thousands):

	April 30, 2013		January 31, 2013

Ethanol and other finished goods	$	7,468	$	7,306
Work in process		4,744		4,414
Grain and other raw materials		8,973		13,199
Total	$	21,185	$	24,919

Leases (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The following table is a summary of future minimum rentals on such leases (amounts in thousands):

Years Ended January 31,	Minimum Rentals

Remainder of 2014	$	1,061
2015		1,070
2016		511
2017		443
2018		232
Thereafter		1,220
Total	$	4,537

Fair Value (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Financial assets and liabilities measured at fair value on a recurring basis at April 30, 2013 are summarized below (amounts in thousands):

	Level 1		Level 2		Level 3		Fair Value

Cash equivalents	$	2	$	—	$	—	$	2
Money market mutual fund (1)		300		—		—		300
Investment in cooperative (1)		—		—		252		252
Total assets	$	302	$	—	$	252	$	554
Interest rate swap derivative liability	$	—	$	2,345	$	—	$	2,345

Financial assetsand liabilities measured at fair value on a recurring basis at January 31, 2013 are summarized below (amounts in thousands):

	Level 1		Level 2		Level 3		Fair Value

Cash equivalents	$	2	$	—	$	—	$	2
Money market mutual fund (1)		300		—		—		300
Investment in cooperative (1)		—		—		252		252
Total assets	$	302	$	—	$	252	$	554
Interest rate swap derivative liability	$	—	$	2,789	$	—	$	2,789

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table provides a reconciliation of the activity related to assets (investment in cooperative) measured at fair value on a recurring basis using Level 3 inputs (amounts in thousands):

Balance, January 31, 2013	$	252
Current period activity		—
Balance, April 30, 2013	$	252

Fair Value Measurements, Nonrecurring [Table Text Block]

Assets measured at fair value on a non-recurring basis as of January 31, 2013 are summarized below (amounts in thousands):

		Level 1				Level 2				Level 3				Total Losses (1)
Property and equipment, net		$	—			$	—			$	2,096			$	419

(1)

Total losses include impairment charges and loss on disposal.

Property and Equipment (Tables)

3 Months Ended

Apr. 30, 2013

Property, Plant and Equipment [Table Text Block]

The components of property and equipment at April 30, 2013 and January 31, 2013 are as follows (amounts in thousands):

	April 30, 2013			January 31, 2013

Land and improvements	$	23,893		$	23,980
Buildings and improvements		37,993			38,056
Machinery, equipment and fixtures		221,666			221,638
Construction in progress		43			39
		283,595			283,713
Less: accumulated depreciation		(64,767	)		(60,533	)

	$	218,828		$	223,180

Other Assets (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Other Assets [Table Text Block]

The components of other assets at April 30, 2013 and January 31, 2013 are as follows (amounts in thousands):

	April 30, 2013		January 31, 2013

Deferred financing costs, net	$	672	$	781
Prepaid commissions		94		164
Deposits		2,064		2,064
Real estate taxes refundable		2,614		2,614
Other		473		1,138
Total	$	5,917	$	6,761

Financial Instruments (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Notional Amounts and Fair Values of Derivatives Not Designated As Cash Flow Hedges [Table Text Block]

The notional amount and fair value of the derivative, which is not designated as a cash flow hedge at April 30, 2013, are summarized in the table below (amounts in thousands):

	Notional Amount		Fair Value Liability

Interest rate swap	$	36,759	$	2,345

Stock Option Plans (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes options granted, exercised and canceled or expired during the three months ended April 30, 2013:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 31, 2013		168,755		$	12.46
Exercised		(43,305	)	$	12.82
Outstanding and exercisable at April 30, 2013		125,450		$	12.34		0.9	$	797

Income Per Share from Continuing Operations Attributable to REX Common Shareholders (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table reconciles the computation of basic and diluted net income per share from continuing operations for the periods presented (in thousands, except per share amounts):

	Three Months Ended April 30, 2013						Three Months Ended April 30, 2012
	Income		Shares		Per Share		Income		Shares		Per Share
Basic income per share from continuing operations attributable to REX common shareholders	$	3,267		8,158	$	0.40	$	772		8,360	$	0.09
Effect of stock options		—		42				—		79
Diluted income per share from continuing operations attributable to REX common shareholders	$	3,267		8,200	$	0.40	$	772		8,439	$	0.09

Investments and Restricted Deposits (Tables)

3 Months Ended

Apr. 30, 2013

Equity Method Investments [Table Text Block]

The following table summarizes equity method investments at April 30, 2013 and January 31, 2013 (amounts in thousands):

Entity	Ownership Percentage			Carrying Amount April 30, 2013		Carrying Amount January 31, 2013

Big River		10	%	$	32,882	$	32,438
Patriot		27	%		28,441		27,521
Total Equity Method Investments				$	61,323	$	59,959

Schedule of Income Loss Recognized From Equity Method Investments [Table Text Block]

The following table summarizes income or (loss) recognized from equity method investments for the periods presented (amounts in thousands):

	Three Months Ended April 30,
	2013		2012

Big River	$	644	$	557
Patriot		955		(115	)
Total	$	1,599	$	442

Schedule of Financial Information for Equity Method Investments [Table Text Block]

Summarized financial information for each of the Company’s equity method investees is presented in the following table for the three months ended April 30, 2013 and 2012 (amounts in thousands):

	Three Months Ended April 30, 2013
	Patriot		Big River

Net sales and revenue	$	94,093	$	294,628
Gross profit	$	5,142	$	15,619
Income from continuing operations	$	3,599	$	6,632
Net income	$	3,599	$	6,632

	Three Months Ended April 30, 2012
	Patriot			Big River

Net sales and revenue	$	89,812		$	291,003
Gross profit	$	1,777		$	14,008
(Loss) income from continuing operations	$	(436	)	$	5,718
Net (loss) income	$	(436	)	$	5,718

Income Taxes (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits, including interest and penalties, is as follows (amounts in thousands):

Unrecognized tax benefits, January 31, 2013	$	2,157
Changes for prior years’ tax positions		16
Changes for current year tax positions		—
Unrecognized tax benefits, April 30, 2013	$	2,173

Discounted Operations (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]

Below is a table reflecting certain items of the Consolidated Statements of Operations that were reclassified as discontinued operations for Three months ended April 30, 2013 and 2011 (amounts in thousand):

	Three Months Ended April 30,
	2013			2012

Net sales and revenue	$	258		$	597
Cost of sales		9			125
Income before income taxes		179			281
Provision for income taxes		(70	)		(112	)
Income from discontinued operations, net of tax	$	109		$	169
Gain (loss) on disposal	$	215		$	(14	)
(Provision) benefit for income taxes		(84	)		6
Gain (loss) on disposal of discontinued operations, net of tax	$	131		$	(8	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Segment Reporting (Tables)

3 Months Ended

Apr. 30, 2013

Schedule of Segment Reporting Information Profit Loss And Revenue Percentage [Table Text Block]

Amounts below include corporate activities that are not separately reportable and income from synthetic fuel investments (amounts in thousands):

	Three Months Ended April 30,
	2013		2012
Net sales and revenue:
Alternative energy	$	178,324	$	150,664
Real estate		423		342
Total net sales and revenue	$	178,747	$	151,006

Segment gross profit:
Alternative energy	$	9,026	$	5,510
Real estate		71		15
Total gross profit	$	9,097	$	5,525

	Three Months Ended April 30,
	2013			2012
Segment profit (loss):
Alternative energy	$	6,626		$	2,469
Real estate		8			(60	)
Corporate expense		(701	)		(548	)
Interest expense		(14	)		(18	)
Interest income		18			29
Income from continuing operations before income taxes	$	5,937		$	1,872

	Three Months Ended April 30,
	2013			2012
Sales of products alternative energy segment:
Ethanol		74	%		78	%
Dried distillers grains		17	%		17	%
Modified distillers grains		6	%		3	%
Other		3	%		2	%
Total		100	%		100	%

Sales of services real estate segment:
Lease revenue		100	%		100	%

Schedule of Segment Reporting Information Assets [Table Text Block]

The following table summarizes segment assets (amounts in thousands):

		April 30, 2013		January 31, 2013
Assets:
Alternative energy	$	341,863	$	337,857
Real estate		12,271		13,326
Corporate		52,436		54,147
Total assets	$	406,570	$	405,330

Consolidated Condensed Financial Statements (Detail)	3 Months Ended
Consolidated Condensed Financial Statements (Detail)	Apr. 30, 2013
Number of Reportable Segments	2

Accounting Policies (Detail) - USD ($)	3 Months Ended		12 Months Ended
Accounting Policies (Detail) - USD ($)	Apr. 30, 2013	Apr. 30, 2012	Jan. 31, 2013
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives	15
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives	40
Fixtures And Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives	3
Fixtures And Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives	20
Minimum [Member]
Extended Period of Warranty	12 months
Maximum [Member]
Extended Period of Warranty	60 months
Interest Costs Capitalized	$ 0	$ 0
Interest Paid	981,000	1,582,000
Derivative Settlement on Interest Rate Swap	440,000	483,000
Income Taxes Paid	0	0
Proceeds from Income Tax Refunds	0	0
Unrecognized Tax Benefit	1,768,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	405,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	82,000
Inventory Write-down	$ 1,000		$ 466,000
Property, Plant and Equipment, Depreciation Methods	Depreciation is computed using the straight-line method
Impairment of Real Estate	$ 0	$ 0
Estimated Cash Flow Percentage	25.00%
Estimated Future Cash Flows Terms	six
Plant Operation Suspension	6 months
Number of Majority Owned Subsidiaries	2
Maximum Percentage of Equity Ownership Interest Which May be Considered for Equity Method of Accounting	20.00%

Accounting Policies (Detail) - Schedule of components of inventory - USD ($) $ in Thousands	Apr. 30, 2013	Jan. 31, 2013
Ethanol and other finished goods	$ 7,468	$ 7,306
Work in process	4,744	4,414
Grain and other raw materials	8,973	13,199
Total	$ 21,185	$ 24,919

Leases (Detail)	Apr. 30, 2013
Retail Site [Member]
Number of Owned Properties Subject to Operating Lease	6
Distribution Centre [Member]
Number of Owned Properties Subject to Operating Lease	1

Leases (Detail) - Schedule of Future Minimum Rental Payments for Operating Leases $ in Thousands	Apr. 30, 2013 USD ($)
Remainder of 2014	$ 1,061
2015	1,070
2016	511
2017	443
2018	232
Thereafter	1,220
Total	$ 4,537

Fair Value (Detail) - USD ($) $ in Millions	Apr. 30, 2013	Jan. 31, 2013
Debt Instrument, Fair Value Disclosure	$ 102.8	$ 107.0

Fair Value (Detail) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($)
$ in Thousands

Apr. 30, 2013

Jan. 31, 2013

Fair Value, Inputs, Level 1 [Member]

Cash Equivalents

$ 2

Money Market Mutual Fund

^[1]

300

Total Assets

302

Fair Value, Inputs, Level 2 [Member]

Interest rate swap derivative liability

2,345

2,789

Fair Value, Inputs, Level 3 [Member]

Investment in Cooperative

^[1]

252

Total Assets

252

Cash Equivalents

Money Market Mutual Fund

^[1]

300

Investment in Cooperative

^[1]

252

Total Assets

554

Interest rate swap derivative liability

$ 2,345

$ 2,789

[1]	The money market mutual fund is included in "Restricted investments and deposits" and the investment in cooperative is included in "Other assets" on the accompanying Consolidated Balance Sheets.

Fair Value (Detail) - Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation $ in Thousands	Apr. 30, 2013 USD ($)
Balance, January 31, 2013	$ 252
Balance, April 30, 2013	$ 252

Fair Value (Detail) - Assets measured at fair value on a non-recurring basis - Assets Measured At Fair Value On A Non Recurring Basis Subsequent [Member]
$ in Thousands

Jan. 31, 2013

USD ($)

Fair Value, Inputs, Level 3 [Member]

Property and equipment, net

$ 2,096

Property and equipment, net

$ 419

^[1]

[1]	Total losses include impairment charges and loss on disposal.

Property and Equipment (Detail) - Schedule of Property Plant and Equipment - USD ($) $ in Thousands	Apr. 30, 2013	Jan. 31, 2013
Land and improvements	$ 23,893	$ 23,980
Buildings and improvements	37,993	38,056
Machinery, equipment and fixtures	221,666	221,638
Construction in progress	43	39
	283,595	283,713
Less: accumulated depreciation	(64,767)	(60,533)
	$ 218,828	$ 223,180

Other Assets (Detail) - Schedule of Other Assets - USD ($) $ in Thousands	Apr. 30, 2013	Jan. 31, 2013
Deferred financing costs, net	$ 672	$ 781
Prepaid commissions	94	164
Deposits	2,064	2,064
Real estate taxes refundable	2,614	2,614
Other	473	1,138
Total	$ 5,917	$ 6,761

Long Term Debt and Interest Rate Swaps (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Apr. 30, 2013	Jan. 31, 2012	Oct. 31, 2009	Jan. 31, 2008	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Jan. 31, 2013	Jul. 31, 2009
Interest Rate Swap One [Member] \| One Earth Energy [Member]
Derivative Liability, Notional Amount									$ 50,000,000
Swap Termination Date	July 8, 2014
Debt Instrument, Basis Spread on Variable Rate (in Basis Points)	7.90%
Interest Rate Swap [Member] \| One Earth Energy [Member]
Derivative Liability	$ 2,300,000							$ 2,800,000
Interest Rate Swap [Member]
Derivative Liability, Notional Amount	36,759,000
Derivative Liability	$ 2,345,000
One Earth Energy [Member] \| Minimum [Member] \| Term Loan [Member]
Debt Instrument, Interest Rate at Period End	3.10%
One Earth Energy [Member] \| Minimum [Member]
Fixed Charge Coverage Ratio	1.00%
One Earth Energy [Member] \| Maximum [Member] \| Term Loan [Member]
Debt Instrument, Interest Rate at Period End	3.30%
One Earth Energy [Member] \| Maximum [Member]
Fixed Charge Coverage Ratio	1.10%
One Earth Energy [Member] \| Construction Loans [Member]
Proceeds from Bank Debt				$ 100,000,000
One Earth Energy [Member] \| Revolving Credit Facility [Member]
Proceeds from Bank Debt				10,000,000
Debt Instrument, Maturity Date	May 31, 2014
Line of Credit Facility, Amount Outstanding	$ 0
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000
One Earth Energy [Member] \| Letter of Credit [Member]
Proceeds from Bank Debt				1,000,000
One Earth Energy [Member] \| Term Loan [Member]
Debt Instrument, Description of Variable Rate Basis	LIBOR plus 280 basis points to LIBOR plus 300 basis points
Debt Instrument, Maturity Date	Jul. 31, 2014
Debt Instrument Principal Payments as Percentage of Annual Excess Cash Flows	20.00%
Debt Instrument, Annual Principal Payment	$ 6,000,000
Long-term Debt, Gross	55,400,000
Payments of Financing Costs	1,400,000
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries	$ 78,900,000							77,900,000
One Earth Energy [Member]
Proceeds from Bank Debt				$ 111,000,000
Debt Conversion, Original Debt, Type of Debt	The construction loan was converted into a term loan on July 31, 2009
Debt Instrument, Frequency of Periodic Payment			19 quarterly payments
Long Term Debt Principal Portion Amortization Schedule			120 months
First National Bank [Member]
Period Of Loan Agreement To Maintain Compliance With Covenants	12 months
Nu Gen Energy [Member] \| Minimum [Member]
Fixed Charge Coverage Ratio	1.00%
Nu Gen Energy [Member] \| Maximum [Member]
Fixed Charge Coverage Ratio	1.10%
Nu Gen Energy [Member] \| Revolving Credit Facility [Member]
Proceeds from Bank Debt	$ 10,000,000	$ 10,000,000
Debt Instrument, Maturity Date	May 31, 2014
Line of Credit Facility, Amount Outstanding	$ 0
Nu Gen Energy [Member] \| Term Loan [Member]
Proceeds from Bank Debt		55,000,000
Debt Instrument, Description of Variable Rate Basis	LIBOR plus 325 basis points
Long Term Debt Principal Portion Amortization Schedule	120 months
Debt Instrument, Maturity Date	Oct. 31, 2016
Debt Instrument Principal Payments as Percentage of Annual Excess Cash Flows	40.00%
Debt Instrument, Annual Principal Payment	$ 5,000,000
Long-term Debt, Gross	46,800,000
Payments of Financing Costs	600,000
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries	$ 51,300,000							49,500,000
Debt Instrument, Basis Spread on Variable Rate (in Basis Points)	3.25%
Debt Instrument Libor Floor Rate	4.00%
Nu Gen Energy [Member]
Proceeds from Bank Debt		$ 65,000,000
Debt Instrument, Frequency of Periodic Payment	19 quarterly payments
Minimum Working Capital Regarding Modification Of The Covenant	$ 7,500,000				$ 10,000,000	$ 7,500,000	$ 7,500,000
Derivative Liability	$ 2,345,000							$ 2,789,000

Financial Instruments (Detail) - USD ($)	3 Months Ended
Financial Instruments (Detail) - USD ($)	Apr. 30, 2013	Apr. 30, 2012
Gain (Loss) on Derivative Instruments, Net, Pretax	$ 4,000	$ (147,000)

Financial Instruments (Detail) - Schedule of Notional Amounts and fair Values - USD ($) $ in Thousands	Apr. 30, 2013	Jan. 31, 2013
Interest Rate Swap [Member]
Interest rate swap	$ 36,759
Interest rate swap	2,345
Interest rate swap	$ 2,345	$ 2,789

Stock Option Plans (Detail) - USD ($)	3 Months Ended
Stock Option Plans (Detail) - USD ($)	Apr. 30, 2013	Apr. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 300,000	$ 1,700,000
Deferred Tax Expense from Stock Options Exercised	$ 100,000	$ 200,000
Treasury Stock, Shares, Acquired (in Shares)		32,935
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in Dollars per share)	$ 12.82	$ 32.53
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 0

Stock Option Plans (Detail) - Schedule of Share-Based Compensation - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 30, 2013	Apr. 30, 2012
Outstanding at January 31, 2013	168,755
Outstanding at January 31, 2013 (in Dollars per share)	$ 12.46
Exercised	(43,305)
Exercised (in Dollars per share)	$ 12.82	$ 32.53
Outstanding and exercisable at April 30, 2013	125,450
Outstanding and exercisable at April 30, 2013 (in Dollars per share)	$ 12.34
Outstanding and exercisable at April 30, 2013	328 days
Outstanding and exercisable at April 30, 2013 (in Dollars)	$ 797

Income Per Share from Continuing Operations Attributable to REX Common Shareholders (Detail) - Schedule of Earnings Per Share Basic and Diluted - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2013	Apr. 30, 2012
Basic income per share from continuing operations attributable to REX common shareholders (in Dollars)	$ 3,267	$ 772
Basic income per share from continuing operations attributable to REX common shareholders	8,158	8,360
Basic income per share from continuing operations attributable to REX common shareholders (in Dollars per share)	$ 0.40	$ 0.09
Effect of stock options	42	79
Diluted income per share from continuing operations attributable to REX common shareholders (in Dollars)	$ 3,267	$ 772
Diluted income per share from continuing operations attributable to REX common shareholders	8,200	8,439
Diluted income per share from continuing operations attributable to REX common shareholders (in Dollars per share)	$ 0.40	$ 0.09

Investments and Restricted Deposits (Detail) - USD ($)	3 Months Ended
Investments and Restricted Deposits (Detail) - USD ($)	Apr. 30, 2013	Apr. 30, 2012	Jan. 31, 2013
Patriot And Big River [Member]
Proportionate Share of Restricted Net Assets	$ 370,400,000		$ 367,600,000
Money Market Funds [Member]
Money Market Mutual Fund Fair Value Disclosure	300,000		300,000
Restricted Investments	203,000		203,000
Retained Earnings, Undistributed Earnings from Equity Method Investees	22,600,000		$ 21,200,000
Proceeds from Equity Method Investment, Dividends or Distributions	$ 200,000	$ 2,000,000

Investments and Restricted Deposits (Detail) - Schedule of Equity Method Investments - USD ($) $ in Thousands	Apr. 30, 2013	Jan. 31, 2013
Big River [Member]
Equity Method Securities, Ownership percentage	10.00%
Total Equity Method Securities, Carrying Amount	$ 32,882	$ 32,438
Patriot [Member]
Equity Method Securities, Ownership percentage	27.00%
Total Equity Method Securities, Carrying Amount	$ 28,441	27,521
Total Equity Method Securities, Carrying Amount	$ 61,323	$ 59,959

Investments and Restricted Deposits (Detail) - Schedule Of Income Loss Recognized From Equity Method Investments - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2013	Apr. 30, 2012
Big River [Member]
Income Loss From Equity Method Investments	$ 644	$ 557
Patriot [Member]
Income Loss From Equity Method Investments	955	(115)
Income Loss From Equity Method Investments	$ 1,599	$ 442

Investments and Restricted Deposits (Detail) - Schedule of Financial information For Equity Method Investment - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2013	Apr. 30, 2012
Patriot [Member]
Net sales and revenue	$ 94,093	$ 89,812
Gross profit	5,142	1,777
Income from continuing operations	3,599	(436)
Net income	3,599	(436)
Big River [Member]
Net sales and revenue	294,628	291,003
Gross profit	15,619	14,008
Income from continuing operations	6,632	5,718
Net income	$ 6,632	$ 5,718

Income Taxes (Detail)	3 Months Ended
Income Taxes (Detail)	Apr. 30, 2013	Apr. 30, 2012
Effective Income Tax Rate Reconciliation, Tax Settlement, Percent	35.40%	28.90%

Income Taxes (Detail) - Schedule of Unrecognized Tax Benefits Roll Forward $ in Thousands	3 Months Ended
	Apr. 30, 2013 USD ($)
Unrecognized tax benefits, January 31, 2013	$ 2,157
Changes for prior years’ tax positions	16
Unrecognized tax benefits, April 30, 2013	$ 2,173

Discounted Operations (Detail) - Schedule of Disposal Groups Including Discontinued Operations - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2013	Apr. 30, 2012
Net sales and revenue	$ 258	$ 597
Cost of sales	9	125
Income before income taxes	179	281
Provision for income taxes	(70)	(112)
Income from discontinued operations, net of tax	109	169
Gain (loss) on disposal	215	(14)
(Provision) benefit for income taxes	(84)	6
Gain (loss) on disposal of discontinued operations, net of tax	$ 131	$ (8)

Commitments and Contingencies (Detail) - One Earth Energy And Nu Gen Energy [Member] lb in Millions, gal in Millions, bu in Millions	Apr. 30, 2013 T lb bu gal
Quantity of Bushels under Forward Purchase Contract (in US Bushels) \| bu	22.7
Quantity of Ethanol under Sales Commitment (in US Gallons) \| gal	40.8
Quantity of Distillers Grains Under Sales Commitment (in US Tons) \| T	63,000
Quantity of Non-food Grade Corn Oil Under Sales Commitments \| lb	4.3

Segment Reporting (Detail) $ in Millions	3 Months Ended
Segment Reporting (Detail) $ in Millions	Apr. 30, 2013 USD ($)
One Earth Energy And Nu Gen Energy [Member]
Cash (in Dollars)	$ 25.4
Number of Reportable Segments	2

Segment Reporting (Detail) - Schedule of Segment Reporting Information, Profit Loss and Revenue Percentage - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2013	Apr. 30, 2012
Ethanol [Member] \| Alternative Energy Segment [Member]
Sales of products alternative energy segment:
Sale of Product	74.00%	78.00%
Dried Distillers Grains [Member] \| Alternative Energy Segment [Member]
Sales of products alternative energy segment:
Sale of Product	17.00%	17.00%
Modified Distillers Grains [Member] \| Alternative Energy Segment [Member]
Sales of products alternative energy segment:
Sale of Product	6.00%	3.00%
Other Products [Member] \| Alternative Energy Segment [Member]
Sales of products alternative energy segment:
Sale of Product	3.00%	2.00%
Alternative Energy Segment [Member]
Net sales and revenue:
Net sales and revenues	$ 178,324	$ 150,664
Segment gross profit:
Gross profit	9,026	5,510
Segment profit (loss):
Income from continuing operations before income taxes	$ 6,626	$ 2,469
Sales of products alternative energy segment:
Sale of Product	100.00%	100.00%
Real Estate Segment [Member]
Net sales and revenue:
Net sales and revenues	$ 423	$ 342
Segment gross profit:
Gross profit	71	15
Segment profit (loss):
Income from continuing operations before income taxes	$ 8	$ (60)
Sales of services real estate segment:
Lease revenue	100.00%	100.00%
Corporate Segment [Member]
Segment profit (loss):
Income from continuing operations before income taxes	$ (701)	$ (548)
Sales of services real estate segment:
Interest expense	(14)	(18)
Interest income	18	29
Net sales and revenues	178,747	151,006
Gross profit	9,097	5,525
Income from continuing operations before income taxes	5,937	1,872
Interest expense	(1,059)	(1,276)
Interest income	$ 25	$ 36

Segment Reporting (Detail) - Schedule of Segment Reporting Information Assets - USD ($) $ in Thousands	Apr. 30, 2013	Jan. 31, 2013
Alternative Energy Segment [Member]
Assets:
Assets	$ 341,863	$ 337,857
Real Estate Segment [Member]
Assets:
Assets	12,271	13,326
Corporate Segment [Member]
Assets:
Assets	52,436	54,147
Assets	$ 406,570	$ 405,330

Related-Party Transactions (Detail) - USD ($) $ in Millions	3 Months Ended
Related-Party Transactions (Detail) - USD ($) $ in Millions	Apr. 30, 2013	Apr. 30, 2012
One Earth Energy [Member]
Related Party Transaction, Purchases from Related Party	$ 71.7	$ 56.5