v3.26.1
Fair Value (Tables)
 6 Months Ended
Jul. 31, 2026
Fair Value [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis

Financial assets and liabilities measured at fair value on a recurring and nonrecurring basis at July 31, 2026 are summarized below (amounts in thousands):

 

   Level 1   Level 2   Level 3   Fair Value 
                     
Forward purchase contracts asset (1)  $-   $487   $-   $487 
Commodity futures asset (2)   1,339    -    -    1,339 
Production tax credit asset (3)   -    -    25,978    25,978 
Total assets  $1,339   $487   $25,978   $27,804 
                     
Forward purchase contracts liability (4)  $-   $2,540   $-   $2,540 

 

Financial assets and liabilities measured at fair value on a recurring basis at January 31, 2026 are summarized below (amounts in thousands):

 

   Level 1   Level 2   Level 3   Fair Value 
                     
Forward purchase contracts asset (1)  $-   $280   $-   $280 
Commodity futures asset (2)   433    -    -    433 
Total assets  $433   $280   $-   $713 
                     
Forward purchase contracts liability (4)  $-   $529   $-   $529 

 

  (1)   The forward purchase contracts asset is included in “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets.
  (2)   The commodity futures assets and liabilities are netted with cash collateral due from broker and included in “Prepaid expenses and other” on the accompanying Consolidated Balance Sheets.
  (3)   Production tax credit assets are included in “Other assets” on the Consolidated Balance Sheets and represent the Company’s estimated net proceeds from the future sale of the credits. The fair value is measured on a nonrecurring basis and is based on estimates such as the expected qualified gallons sold, the gross credit achieved per gallon, sales discount, broker fees and potential insurance costs. As such, disclosure as Level 3 is appropriate.
  (4)   The forward purchase contracts liability is included in “Accrued expenses and other current liabilities” on the accompanying Consolidated Balance Sheets.
Roll-forward of Level 3 Fair Value Measurements The following table summarizes the roll-forward of Level 3 fair value measurements as of July 31, 2026 (in thousands):
Fair Value as of April 30, 2026  $- 
Generated transferable tax credits   25,978 
Fair value as of July 31, 2026  $25,978