Titan Machinery (TITN) 10-Q 5 Sep 19 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jul. 31, 2019shares
Document and Entity Information
Entity Registrant Name	Titan Machinery Inc.
Entity Central Index Key	0001409171
Document Type	10-Q
Document Period End Date	Jul. 31, 2019
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Current Fiscal Year End Date	--01-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	22,353,839
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2019	Jan. 31, 2019
Current Assets
Cash	$ 49,517	$ 56,745
Receivables, net of allowance for doubtful accounts	86,486	77,500
Inventories	629,246	491,091
Prepaid expenses and other	8,270	15,556
Total current assets	773,519	640,892
Noncurrent Assets
Intangible assets, net of accumulated amortization	7,351	7,247
Property and equipment, net of accumulated depreciation	146,908	138,950
Operating Lease, Right-of-Use Asset	95,432
Deferred Tax Assets, Net, Noncurrent	3,173	3,010
Goodwill	1,649	1,161
Other	1,164	1,178
Total noncurrent assets	255,677	151,546
Total Assets	1,029,196	792,438
Current Liabilities
Accounts payable	18,928	16,607
Floorplan payable	451,934	273,756
Convertible Debt, Current	0	45,249
Current maturities of long-term debt	3,306	2,067
Operating Lease, Liability, Current	12,184	0
Deferred revenue	30,540	46,409
Accrued expenses and other	36,964	36,364
Total current liabilities	553,856	420,452
Long-Term Liabilities
Long-term debt, less current maturities	34,581	20,676
Operating Lease, Liability	93,248
Deferred income taxes	4,492	4,955
Other long-term liabilities	7,060	11,044
Total long-term liabilities	139,381	36,675
Commitments and Contingencies
Stockholders' Equity
Common stock, par value $.00001 per share, 45,000 shares authorized; 22,354 shares issued and outstanding at July 31, 2019; 22,218 shares issued and outstanding at January 31, 2019	0	0
Additional paid-in-capital	249,228	248,423
Retained earnings	88,830	89,228
Accumulated other comprehensive loss	(2,099)	(2,340)
Total stockholders' equity	335,959	335,311
Total Liabilities and Stockholders' Equity	$ 1,029,196	$ 792,438

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2019	Jan. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value, in dollars per share	$ 0.00001	$ 0.00001
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	22,354,000	22,218,000
Common stock, shares outstanding	22,354,000	22,218,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Revenue
Equipment	$ 214,435	$ 203,626	$ 408,390	$ 371,396
Parts	59,202	55,451	111,140	102,313
Service	26,832	23,169	49,662	43,205
Rental and Other	14,512	14,985	24,079	24,032
Total Revenue	314,981	297,231	593,271	540,946
Cost of Revenue
Equipment	190,707	181,181	363,861	330,404
Parts	41,732	39,349	78,546	72,588
Service	8,737	7,296	16,219	14,163
Rental and other	9,778	10,504	16,719	17,332
Total Cost of Revenue	250,954	238,330	475,345	434,487
Gross Profit	64,027	58,901	117,926	106,459
Operating Expenses	54,855	47,633	107,410	94,360
Other Asset Impairment Charges	0	156	135	156
Restructuring Costs	0	565	0	565
Income from Operations	9,172	10,547	10,381	11,378
Other Income (Expense)
Interest income and other income (expense)	620	1,462	1,414	1,846
Floorplan interest expense	(1,399)	(1,727)	(2,276)	(3,077)
Other interest expense	(966)	(2,490)	(2,607)	(4,520)
Loss Before Income Taxes	7,427	7,792	6,912	5,627
Benefit from Income Taxes	1,916	2,612	1,846	2,061
Net Loss	5,511	5,180	5,066	3,566
Net Income Allocated to Participating Securities - Note 1	(82)	(80)	(76)	(57)
Net Income (Loss) Attributable to Titan Machinery Inc. Common Stockholders	$ 5,429	$ 5,100	$ 4,990	$ 3,509
Earnings (Loss) per Share:
Earnings (Loss) per Share - Basic, in dollars per share	$ 0.25	$ 0.23	$ 0.23	$ 0.16
Earnings (Loss) per Share - Diluted, in dollars per share	$ 0.25	$ 0.23	$ 0.23	$ 0.16
Weighted Average Common Shares:	21,960	21,826	21,917	21,781
Basic	21,964	21,831	21,922	21,788

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Net Loss	$ 5,511	$ 5,180	$ 5,066	$ 3,566
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	1,012	(1,408)	241	(107)
Comprehensive Income (Loss)	$ 6,523	$ 3,772	$ 5,307	$ 3,459

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Operating Activities
Net loss	$ 5,066	$ 3,566
Adjustments to reconcile net loss to net cash provided by (used for) operating activities
Depreciation and amortization	13,264	11,447
Impairment	135	156
Deferred income taxes	(251)	891
Stock-based compensation expense	1,297	1,249
Noncash interest expense	407	1,430
Operating Lease, Expense	6,198
Loss (gain) on repurchase of senior convertible notes	0	615
Other, net	(8)	837
Changes in assets and liabilities
Receivables, prepaid expenses and other assets	(2,149)	(16,117)
Inventories	(140,149)	(73,915)
Manufacturer floorplan payable	128,635	69,225
Accounts payable, deferred revenue, accrued expenses and other and other long-term liabilities	(12,362)	(13,471)
Operating Lease, Liability	(6,386)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	(6,303)	(14,087)
Investing Activities
Rental fleet purchases	(9,249)	(3,145)
Property and equipment purchases (excluding rental fleet)	(3,101)	(2,609)
Proceeds from sale of property and equipment	670	614
Business Combination, Consideration Transferred	(2,972)
Other, net	14	(169)
Net Cash Used for Investing Activities	(14,638)	(5,309)
Financing Activities
Net change in non-manufacturer floorplan payable	49,937	50,422
Repurchase of Senior Convertible Notes	(45,644)	(20,025)
Proceeds from long-term debt borrowings	11,786	0
Principal payments on long-term debt and finance leases	(1,940)	(14,062)
Other, net	(492)	(618)
Net Cash Provided by Financing Activities	13,647	15,717
Effect of Exchange Rate Changes on Cash	66	(44)
Net Change in Cash	(7,228)	(3,723)
Cash at Beginning of Period	56,745	53,396
Cash at End of Period	49,517	49,673
Cash paid (received) during the period
Income taxes, net of refunds	3,064	1,145
Interest	4,705	5,442
Supplemental Disclosures of Noncash Investing and Financing Activities
Net property and equipment financed with long-term debt, finance leases, accounts payable and accrued liabilities	6,133	2,310
Net transfer of assets to (from) property and equipment from (to) inventories	$ (2,995)	$ 2,715

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]
Shares, Outstanding		22,102
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 321,855		$ 246,509	$ 77,046	$ (1,700)
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		(22)
Stock Issued During Period, Value of Restricted Stock Award Stock Options Exercised Warrants Exercised and Tax Benefits of Equity Awards	(598)		(598)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	540		540
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(1,614)			(1,614)
Other Comprehensive Income (Loss), Net of Tax	1,301				1,301
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	3,566
Shares, Outstanding		22,080
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	321,484		246,451	75,432	(399)
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		138
Stock Issued During Period, Value of Restricted Stock Award Stock Options Exercised Warrants Exercised and Tax Benefits of Equity Awards	(11)		(11)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	709		709
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	5,180			5,180
Other Comprehensive Income (Loss), Net of Tax	(1,408)				(1,408)
Shares, Outstanding		22,218
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	325,954		247,149	80,612	(1,807)
Shares, Outstanding		22,218
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	335,311		248,423	89,228	(2,340)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Adjustments for New Accounting Pronouncement [Member]	(5,464)
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		(34)
Stock Issued During Period, Value of Restricted Stock Award Stock Options Exercised Warrants Exercised and Tax Benefits of Equity Awards	(492)		(492)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	603		603
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(445)			(445)
Other Comprehensive Income (Loss), Net of Tax	(771)				(771)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	5,066
Shares, Outstanding		22,184
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	328,742		248,534	83,319	(3,111)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Adjustments for New Accounting Pronouncement [Member]				(5,464)
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		170
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	694		694
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	5,511			5,511
Other Comprehensive Income (Loss), Net of Tax	1,012				1,012
Shares, Outstanding		22,354
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 335,959		$ 249,228	$ 88,830	$ (2,099)

BUSINESS ACTIVITY AND SIGNIFICA

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jul. 31, 2019
Accounting Policies [Abstract]
BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES	BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. The quarterly operating results for Titan Machinery Inc. (the “Company”) are subject to fluctuation due to varying weather patterns, which may impact the timing and amount of equipment purchases, rentals, and after-sales parts and service purchases by the Company’s Agriculture, Construction and International customers. Therefore, operating results for the six -month period ended July 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2020 . The information contained in the consolidated balance sheet as of January 31, 2019 was derived from the audited consolidated financial statements for the Company for the fiscal year then ended. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2019 as filed with the SEC. Nature of Business The Company is engaged in the retail sale, service and rental of agricultural and construction machinery through its stores in the United States and Europe. The Company’s North American stores are located in Arizona, Colorado, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, South Dakota, Wisconsin and Wyoming, and its European stores are located in Bulgaria, Germany, Romania, Serbia and Ukraine. Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates, particularly related to realization of inventory, impairment of long-lived assets, collectability of receivables, and income taxes. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All material accounts, transactions and profits between the consolidated companies have been eliminated in consolidation. Reclassifications Concurrent with the adoption of new lease accounting guidance, the Company elected to reclassify finance lease liabilities in the accompanying consolidated balance sheet as of January 31, 2019 to maintain consistency and comparability between periods presented. The amounts reclassified included $1.3 million from current maturities of long-term debt to accrued expenses and other and $5.1 million from long-term debt, less current maturities to other long-term liabilities. These reclassifications had no impact on total current liabilities, total long-term liabilities or total liabilities and stockholders' equity within the consolidated balance sheets. Certain reclassifications of amounts previously reported within the consolidated statements of cash flows have been made to maintain consistency and comparability between periods presented. These reclassifications had no impact on previously reported cash flows from operating, investing or financing activities within the consolidated statements of cash flows. Recently Adopted Accounting Guidance In February 2016, the Financial Accounting Standards Board ("FASB") issued a new leasing standard applicable for lessees and lessors and codified in Accounting Standards Codification 842, Leases, ("ASC 842") to increase transparency and comparability among organizations. Most prominent among the changes in the standard is the recognition on the balance sheet by a lessee of right-of-use assets and lease liabilities for most leases. The standard also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from lease activities. This guidance is effective for reporting periods beginning after December 15, 2018. The Company adopted the leasing guidance on February 1, 2019 using a prospective transition method at the adoption date and recognized a cumulative-effect adjustment to the opening balance of retained earnings as a result of adoption. Under this method of adoption, prior period amounts are not adjusted and will continue to be reported under accounting standards in effect for those periods. The Company elected the package of practical expedients afforded under the guidance, which applies to leases that commenced prior to adoption and permits an entity not to: 1) reassess whether existing or expired contracts are or contain a lease, 2) reassess the lease classification, and 3) reassess any initial direct costs for any existing leases. The Company did not elect the use of the hindsight practical expedient to determine the lease term, but rather included the lease term as defined under former leasing guidance to capitalize the right-of-use asset and lease liability upon adoption. The Company identified new, and updated existing, internal controls and processes to ensure compliance with the new standard, but such modifications were not deemed to be material to our overall system of internal controls. Adoption of the new standard for leasing transactions in which the Company is the lessee had a material impact on our consolidated balance sheet but did not have an impact on our consolidated statement of operations or cash flows. The most significant impact was the recognition of right-of-use assets and lease liabilities for operating leases, while the accounting for financing leases remained substantially unchanged. We recognized a cumulative-effect adjustment to retained earnings as of February 1, 2019 of $5.5 million primarily resulting from impairment of operating lease right-of-use assets present on the date of adoption, net of the deferred tax impact. The adoption of the new standard for leasing transactions in which the Company is the lessor did not impact our consolidated balance sheet, statement of operations or cash flows. The Company has included the additional disclosures required under ASC 842 in Note 13. Adoption of ASC 842 impacted our consolidated balance sheet as of February 1, 2019 as follows: January 31, 2019 As Reported ASC 842 Adjustment on February 1, 2019 February 1, 2019 As Adjusted (in thousands) Assets Operating lease assets $ — $ 100,469 (a) $ 100,469 Liabilities and Stockholders' Equity Current maturities of long-term debt 3,340 (1,273 ) (b) 2,067 Current operating lease liabilities — 12,266 (c) 12,266 Accrued expenses and other 35,091 972 (d) 36,063 Long-term debt, less current maturities 25,812 (5,136 ) (b) 20,676 Operating lease liabilities — 98,250 (c) 98,250 Deferred income taxes 4,955 (374 ) (e) 4,581 Other long-term liabilities 5,908 1,228 (f) 7,136 Retained earnings 89,228 (5,464 ) (g) 83,764 (a) Capitalization of operating lease assets, net of straight-line rent accrued liabilities, cease-use liabilities, and right-of-use asset impairment present on the date of adoption. (b) As described above under Reclassifications , concurrent with the adoption of ASC 842, the Company elected to reclassify current maturities of finance lease liabilities from Current maturities of long-term debt to Accrued expenses and other and the long-term portion of finance lease liabilities from Long-term debt, less current maturities to Other long-term liabilities in the accompanying consolidated balance sheet as of January 31, 2019 to maintain consistency and comparability between periods presented. (c) Recognition of operating lease liabilities. (d) As described in (b) above, includes the reclassification of current maturities of finance lease liabilities, net of the reclassification of the current portion of cease-use liabilities to Operating lease assets as part of the adoption of ASC 842. (e) Deferred tax impact of adoption, primarily resulting from operating lease right-of-use asset impairment recognized upon adoption, net of the valuation allowance recognized for such deferred tax assets. (f) As described in (b) above, includes the reclassification of finance lease liabilities, net of the ASC 842 adoption impact of reclassifying straight-line rent accrued liabilities and cease-use liabilities, and the cumulative-effect adjustment recognized in retained earnings for gains deferred on previous sale-leaseback transactions. (g) Cumulative-effect adjustment of $6.6 million for operating lease right-of-use asset impairment present on the date of adoption net of the adjustment for deferred gains on previous sale-leaseback transactions of $0.7 million and the deferred tax impact of these adjustments, net of the valuation allowance recognized on such deferred tax assets. Unadopted Accounting Guidance In June 2016, the FASB issued a new standard, codified in ASC 326, that modifies how entities measure credit losses on most financial instruments. The new standard replaces the current "incurred loss" model with an "expected credit loss" model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of the asset. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, and will be applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date to align our credit loss methodology with the new standard. While we are currently evaluating the impact to our consolidated financial statements of adopting this guidance, we do not anticipate that the guidance will materially impact our consolidated financial statements. In February 2018, the FASB issued guidance on the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract, codified in ASC 350-40. This guidance aligns the accounting for costs incurred to implement a cloud computing arrangement that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, and may be applied using either a retrospective or prospective transition approach. We are currently evaluating the impact to our consolidated financial statements of adopting this guidance.

EARNINGS PER SHARE (Notes)

EARNINGS PER SHARE (Notes)	6 Months Ended
	Jul. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	EARNINGS PER SHARE The following table sets forth the calculation of basic and diluted EPS: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands, except per share data) Numerator: Net income $ 5,511 $ 5,180 $ 5,066 $ 3,566 Allocation to participating securities (82 ) (80 ) (76 ) (57 ) Net income attributable to Titan Machinery Inc. common stockholders $ 5,429 $ 5,100 $ 4,990 $ 3,509 Denominator: Basic weighted-average common shares outstanding 21,960 21,826 21,917 21,781 Plus: incremental shares from assumed exercises of stock options and vesting of restricted stock units 4 5 5 7 Diluted weighted-average common shares outstanding 21,964 21,831 21,922 21,788 Earnings Per Share: Basic $ 0.25 $ 0.23 $ 0.23 $ 0.16 Diluted $ 0.25 $ 0.23 $ 0.23 $ 0.16 Anti-dilutive shares excluded from diluted weighted-average common shares outstanding: Stock options and restricted stock units — 53 — 53 Shares underlying senior convertible notes — 1,057 — 1,057

RECEIVABLES (Notes)

RECEIVABLES (Notes)	6 Months Ended
	Jul. 31, 2019
Receivables [Abstract]
Receivables, Policy [Policy Text Block]	RECEIVABLES July 31, 2019 January 31, 2019 (in thousands) Trade and unbilled receivables from contracts with customers Trade receivables due from customers $ 41,556 $ 38,827 Trade receivables due from finance companies 16,188 10,265 Unbilled receivables 16,701 11,222 Trade and unbilled receivables from rental contracts Trade receivables 7,967 6,386 Unbilled receivables 1,392 828 Other receivables Due from manufacturers 6,254 12,950 Other 1,247 550 Total receivables 91,305 81,028 Less allowance for doubtful accounts (4,819 ) (3,528 ) Receivables, net of allowance for doubtful accounts $ 86,486 $ 77,500 The following table presents impairment losses on receivables arising from sales contracts with customers and receivables arising from rental contracts: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands) Impairment losses on: Receivables from sales contracts $ 658 $ 177 $ 986 $ 330 Receivables from rental contracts 414 115 497 159 $ 1,072 $ 292 $ 1,483 $ 489

REVENUE (Notes)

REVENUE (Notes)	6 Months Ended
	Jul. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition, Policy [Policy Text Block]	REVENUE Revenues are recognized when control of the promised goods or services is transferred to the customer, in an amount that reflects the consideration we expect to collect in exchange for those goods or services. Sales, value added and other taxes collected from our customers concurrent with our revenue activities are excluded from revenue. The following tables present our revenue disaggregated by revenue source and segment: Three Months Ended July 31, 2019 Three Months Ended July 31, 2018 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 111,212 $ 51,396 $ 51,827 $ 214,435 $ 101,078 $ 46,226 $ 56,322 $ 203,626 Parts 35,054 13,066 11,082 59,202 33,290 12,441 9,720 55,451 Service 18,000 6,968 1,864 26,832 15,956 6,127 1,086 23,169 Other 793 820 130 1,743 725 1,083 74 1,882 Revenue from contracts with customers 165,059 72,250 64,903 302,212 151,049 65,877 67,202 284,128 Rental 633 11,789 347 12,769 828 11,644 631 13,103 Total revenues $ 165,692 $ 84,039 $ 65,250 $ 314,981 $ 151,877 $ 77,521 $ 67,833 $ 297,231 Six Months Ended July 31, 2019 Six Months Ended July 31, 2018 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 219,075 $ 94,442 $ 94,873 $ 408,390 $ 199,189 $ 82,265 $ 89,942 $ 371,396 Parts 65,029 25,770 20,341 111,140 62,521 23,914 15,878 102,313 Service 32,984 13,489 3,189 49,662 29,797 11,643 1,765 43,205 Other 1,412 1,413 152 2,977 1,270 1,795 108 3,173 Revenue from contracts with customers 318,500 135,114 118,555 572,169 292,777 119,617 107,693 520,087 Rental 964 19,668 470 21,102 1,054 18,949 856 20,859 Total revenues $ 319,464 $ 154,782 $ 119,025 $ 593,271 $ 293,831 $ 138,566 $ 108,549 $ 540,946 Unbilled Receivables and Deferred Revenue Unbilled receivables amounted to $16.7 million and $11.2 million as of July 31, 2019 and January 31, 2019 . The increase in unbilled receivables is primarily the result of a seasonal increase in the volume of our service transactions in which we recognize revenue as our work is performed and prior to customer invoicing. Deferred revenue from contracts with customers amounted to $29.3 million and $44.9 million as of July 31, 2019 and January 31, 2019 . Our deferred revenue most often increases in the fourth quarter of each fiscal year due to a higher level of customer down payments or prepayments and longer time periods between customer payment and delivery of the equipment asset, and the related recognition of equipment revenue, prior to its seasonal use. During the six months ended July 31, 2019 and 2018 , the Company recognized $41.2 million and $27.0 million , respectively, of revenue that was included in the deferred revenue balance as of January 31, 2019 and January 31, 2018 , respectively. No material amount of revenue was recognized during the three or six months ended July 31, 2019 and 2018 from performance obligations satisfied in previous periods. The Company has elected as a practical expedient to not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of service of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. The contracts for which the practical expedient has been applied include (i) equipment revenue transactions, which do not have a stated contractual term, but are short-term in nature, and (ii) service revenue transactions, which also do not have a stated contractual term but are generally completed within 30 days and for such contracts we recognize revenue over time at the amount to which we have the right to invoice for services completed to date.

INVENTORIES

INVENTORIES	6 Months Ended
	Jul. 31, 2019
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES July 31, 2019 January 31, 2019 (in thousands) New equipment $ 410,020 $ 258,081 Used equipment 137,171 158,951 Parts and attachments 80,088 72,760 Work in process 1,967 1,299 $ 629,246 $ 491,091

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jul. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT July 31, 2019 January 31, 2019 (in thousands) Rental fleet equipment $ 118,124 $ 111,164 Machinery and equipment 21,938 21,646 Vehicles 47,390 42,330 Furniture and fixtures 40,979 40,645 Land, buildings, and leasehold improvements 63,641 63,091 292,072 278,876 Less accumulated depreciation (145,164 ) (139,926 ) $ 146,908 $ 138,950 As the result of a current period operating loss combined with historical losses and anticipated future operating losses of certain store locations, the Company recognized long-lived asset impairment charges of $0.1 million within its Construction segment during the three month period ended April 30, 2019 and $0.2 million within its International segment during the three month period ended July 31, 2018. In March 2019, the Company completed an assessment of its Enterprise Resource Planning ("ERP") application, and concluded that the Company will begin the process to prepare for conversion to a new ERP application during the fiscal year ending January 31, 2020, with an anticipated implementation of the new ERP application during the first-half of the fiscal year ending January 31, 2021. Beginning in March 2019, the Company prospectively adjusted the useful life of its current ERP application such that it will be fully amortized upon its estimated replacement date. The net book value of the ERP asset of $8.7 million as of March 2019 will be amortized on a straight-line basis over the estimated remaining period of use. For the three and six months ended July 31, 2019 , the Company recognized an additional $1.4 million and $2.3 million of amortization expense, which decreased operating income accordingly, decreased net income by approximately $1.1 million and $1.8 million , and decreased basic and diluted earnings per share by approximately $0.05 and $0.08 , respectively.

LINES OF CREDIT _ FLOORPLAN PAY

LINES OF CREDIT / FLOORPLAN PAYABLE	6 Months Ended
	Jul. 31, 2019
Line of Credit Facility [Abstract]
LINES OF CREDIT / FLOORPLAN PAYABLE	LINES OF CREDIT As of July 31, 2019 , the Company had floorplan lines of credit totaling $640.0 million , which is primarily comprised of three significant floorplan lines of credit: (i) a $400.0 million credit facility with CNH Industrial, (ii) a $140.0 million line of credit with a group of banks led by Wells Fargo Bank, National Association (the "Wells Fargo Credit Agreement"), and (iii) a $45.0 million credit facility with DLL Finance LLC. As of July 31, 2019 and January 31, 2019 , the Company's outstanding balances of floorplan payables and lines of credit consisted of the following: July 31, 2019 January 31, 2019 (in thousands) CNH Industrial $ 262,370 $ 120,319 Wells Fargo Credit Agreement (floorplan payable line) 93,150 49,100 DLL Finance 26,134 13,432 Other outstanding balances with manufacturers and non-manufacturers 70,280 90,905 $ 451,934 $ 273,756 As of July 31, 2019 , the interest-bearing U.S. floorplan payables carried various interest rates ranging from 4.65% to 5.81% , compared to a range of 4.77% to 6.30% as of January 31, 2019 . As of July 31, 2019 , foreign floorplan payables carried various interest rates primarily ranging from 0.88% to 8.62% , compared to a range of 0.94% to 8.51% as of January 31, 2019 . As of July 31, 2019 and January 31, 2019 , $269.3 million and $151.7 million of outstanding floorplan payable were non-interest bearing. As of July 31, 2019 , the Company had a compensating balance arrangement under one of its foreign floorplan credit facilities, which requires a minimum cash deposit to be maintained with the lender in the amount of $5.0 million for the term of the credit facility. Wells Fargo Credit Agreement The maturity date of the Wells Fargo Credit Agreement was previously contingent upon the results of a maturity test that was performed on February 1, 2019, a date that was three months prior to the scheduled maturity date of the Company's outstanding senior convertible notes. Pursuant to this test, the maturity date for the Wells Fargo Credit Agreement would be October 28, 2020 so long as (i) the Company's fixed charge coverage ratio for the 12 month period ended December 31, 2018 was at least 1.10 to 1.00 and (ii) a liquidity test, requiring that the Company have unrestricted cash on hand plus excess borrowing availability under the Wells Fargo Credit Agreement (on a pro-forma basis reflecting the Company’s repayment in full of its outstanding senior convertible notes) in an amount that was greater than 20% of maximum credit amount under the facility, was met on February 1, 2019. If both financial tests were not satisfied on February 1, 2019, the Wells Fargo Credit Agreement would immediately mature and all amounts outstanding would become immediately due and payable in full. The Company satisfied the maturity test requirements on February 1, 2019, and therefore the maturity date of the Wells Fargo Credit Agreement is October 28, 2020.

DEFERRED REVENUE (Notes)

DEFERRED REVENUE (Notes)	6 Months Ended
	Jul. 31, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Deferred Revenue Disclosure [Text Block]	DEFERRED REVENUE July 31, 2019 January 31, 2019 (in thousands) Deferred revenue from contracts with customers $ 29,328 $ 44,893 Deferred revenue from rental and other contracts 1,212 1,516 $ 30,540 $ 46,409

SENIOR CONVERTIBLE NOTES

SENIOR CONVERTIBLE NOTES	6 Months Ended
	Jul. 31, 2019
SENIOR CONVERTIBLE NOTES
Debt Disclosure [Text Block]	SENIOR CONVERTIBLE NOTES The Company's senior convertible notes matured, and the outstanding principal balance of $45.6 million was repaid in full, on May 1, 2019. The carrying value of outstanding senior convertible notes previously consisted of the following: July 31, 2019 January 31, 2019 (in thousands except conversion rate and conversion price) Principal value $ — $ 45,644 Unamortized debt discount — (350 ) Unamortized debt issuance costs — (45 ) Carrying value of senior convertible notes $ — $ 45,249 Carrying value of equity component, net of deferred taxes $ — $ 14,923 The Company recognized interest expense associated with its senior convertible notes as follows: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands) (in thousands) Cash Interest Expense Coupon interest expense $ — $ 546 $ 421 $ 1,151 Noncash Interest Expense Amortization of debt discount — 446 350 915 Amortization of transaction costs — 59 45 123 $ — $ 1,051 $ 816 $ 2,189 The effective interest rate of the liability component was equal to 7.3% for each of the periods presented.

LONG TERM DEBT (Notes)

LONG TERM DEBT (Notes)	6 Months Ended
	Jul. 31, 2019
Long-term Debt, Unclassified [Abstract]
Long-term Debt [Text Block]	LONG TERM DEBT The following is a summary of long-term debt as of July 31, 2019 and January 31, 2019 : July 31, 2019 January 31, 2019 (in thousands) Sale-leaseback financing obligations, interest rates ranging from 3.4% to 10.3% with various maturity dates through December 2030 $ 18,404 $ 19,010 Real estate mortgage bearing interest at 5.11%, payable in quarterly installments of $0.3 million, maturing on May 15, 2039, secured by real estate assets 6,826 — Equipment financing loan, payable in monthly installments over a 72-month term for each funded tranche, bearing interest at 3.89%, secured by vehicle assets 4,926 — Real estate mortgage bearing interest at 4.62%, payable in monthly installments of $0.04 million with a final payment at maturity of $3.4 million, maturing on June 10, 2024, secured by real estate assets 4,514 — Real estate mortgage bearing interest at 2.09%, payable in monthly installments, maturing on June 30, 2026, secured by real estate assets 2,790 2,978 Other long-term debt primarily bearing interest at three-month EURIBOR plus 2.6%, payable in quarterly installments, maturing on January 31, 2021 427 755 37,887 22,743 Less current maturities (3,306 ) (2,067 ) $ 34,581 $ 20,676

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Jul. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company holds derivative instruments for the purpose of minimizing exposure to fluctuations in foreign currency exchange rates to which the Company is exposed in the normal course of its operations. The Company uses foreign currency forward contracts to hedge the effects of fluctuations in exchange rates on outstanding intercompany loans. The Company does not formally designate and document such derivative instruments as hedging instruments; however, the instruments are an effective economic hedge of the underlying foreign currency exposure. Both the gain or loss on the derivative instrument and the offsetting gain or loss on the underlying intercompany loan are recognized in earnings immediately, thereby eliminating or reducing the impact of foreign currency exchange rate fluctuations on net income. The Company's foreign currency forward contracts generally have three-month maturities, maturing on the last day of each fiscal quarter. The notional value of outstanding foreign currency contracts as of July 31, 2019 and January 31, 2019 was $3.4 million and $14.1 million . As of July 31, 2019 and January 31, 2019 , the fair value of the Company's outstanding derivative instruments was not material. Derivative instruments recognized as assets are recorded in prepaid expenses and other in the consolidated balance sheets, and derivative instruments recognized as liabilities are recorded in accrued expenses and other in the consolidated balance sheets. The following table sets forth the gains and losses recognized in income from the the Company’s derivative instruments for the three and six months ended July 31, 2019 and 2018 . Gains and losses are recognized in interest income and other income (expense) in the consolidated statements of operations: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands) Foreign currency contracts $ 166 $ 588 $ 368 $ 1,123

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 31, 2019	Apr. 30, 2019	Jul. 31, 2018	Apr. 30, 2018	Jul. 31, 2019	Jan. 31, 2019	Jan. 31, 2018
Accumulated Other Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	$ 1,012	$ (771)	$ (1,408)	$ 1,301
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2,099)	(3,111)	(1,807)	(399)	$ (2,099)	$ (2,340)	$ (1,700)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	1,012	(771)	(1,408)	1,301
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (4,810)	$ (5,822)	$ (4,518)	$ (3,110)	$ (4,810)	$ (5,051)	$ (4,411)
Comprehensive Income (Loss) Note [Text Block]					ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following is a summary of the changes in accumulated other comprehensive income (loss), by component, for the periods ended July 31, 2019 and July 31, 2018 : Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2019 $ (5,051 ) $ 2,711 $ (2,340 ) Other comprehensive loss (771 ) — (771 ) Balance, April 30, 2019 (5,822 ) 2,711 (3,111 ) Other comprehensive income 1,012 — 1,012 Balance, July 31, 2019 $ (4,810 ) $ 2,711 $ (2,099 ) Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2018 $ (4,411 ) $ 2,711 $ (1,700 ) Other comprehensive income 1,301 — 1,301 Balance, April 30, 2018 (3,110 ) 2,711 (399 ) Other comprehensive loss (1,408 ) — (1,408 ) Balance, July 31, 2018 $ (4,518 ) $ 2,711 $ (1,807 )

LEASES (Notes)

LEASES (Notes)	6 Months Ended
	Jul. 31, 2019
Leases [Abstract]
Lease Disclosure [Text Block]	LEASES As Lessee The Company, as lessee, leases certain of its dealership locations, office space, equipment and vehicles under operating and financing classified leasing arrangements. The Company has elected to not record leases with a lease term at commencement of 12 months or less on the consolidated balance sheet; such leases are expensed on a straight-line basis over the lease term. Many real estate lease agreements require the Company to pay the real estate taxes on the properties during the lease term and require that the Company maintain property insurance on each of the leased premises. Such payments are deemed to be variable lease payments as the amounts may change during the term of the lease. Certain leases include renewal options that can extend the lease term for periods of one to ten years. Most real estate leases grant the Company a right of first refusal or other options to purchase the real estate, generally at fair market value, either during the lease term or at its conclusion. In most cases, the Company has not included these renewal and purchase options within the measurement of the right-of-use asset and lease liability. Most often the Company cannot readily determine the interest rate implicit in the lease and thus applies its incremental borrowing rate to capitalize the right-of-use asset and lease liability. We estimate our incremental borrowing rate by incorporating considerations of lease term, asset class and lease currency and geographical market. Our lease agreements do not contain any material non-lease components, residual value guarantees or material restrictive covenants. The Company subleases a small number of real estate assets to third-parties, primarily dealership locations for which we have ceased operations. All sublease arrangements are classified as operating leases. The components of lease expense were as follows: Classification Three Months Ended July 31, 2019 Six Months Ended July 31, 2019 (in thousands) Finance lease cost: Amortization of leased assets Operating expenses $ 331 $ 707 Interest on lease liabilities Other interest expense 139 278 Operating lease cost Operating expenses & rental and other cost of revenue 4,725 9,541 Short-term lease cost Operating expenses 80 160 Variable lease cost Operating expenses 715 1,335 Sublease income Interest income and other income (expense) (154 ) (321 ) $ 5,836 $ 11,700 Right-of-use lease assets and lease liabilities consist of the following: Classification July 31, 2019 (in thousands) Assets Operating lease assets Operating lease assets $ 95,432 Finance lease assets (a) Property and equipment, net of accumulated depreciation 6,477 Total leased assets $ 101,909 Liabilities Current Operating Current operating lease liabilities $ 12,184 Finance Accrued expenses and other 1,607 Noncurrent Operating Operating lease liabilities 93,248 Finance Other long-term liabilities 4,521 Total lease liabilities $ 111,560 (a) Finance lease assets are recorded net of accumulated amortization of $0.8 million as of July 31, 2019 . Maturities of lease liabilities as of July 31, 2019 are as follows: Operating Finance Leases Leases Total Fiscal Year Ended January 31, (in thousands) 2020 (remainder) $ 9,264 $ 1,062 $ 10,326 2021 17,540 2,013 19,553 2022 16,722 1,689 18,411 2023 15,653 1,064 16,717 2024 14,746 371 15,117 2025 13,613 327 13,940 Thereafter 47,215 1,386 48,601 Total lease payments 134,753 7,912 142,665 Less: Interest 29,321 1,784 31,105 Present value of lease liabilities $ 105,432 $ 6,128 $ 111,560 The weighted-average lease term and discount rate as of July 31, 2019 are as follows: July 31, 2019 Weighted-average remaining lease term (years): Operating leases 8.3 Financing leases 5.4 Weighted-average discount rate: Operating leases 6.1 % Financing leases 10.0 % Other lease information is as follows: Six Months Ended July 31, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,587 Operating cash flows from finance leases 278 Financing cash flows from finance leases 858 Operating lease assets obtained in exchange for new operating lease liabilities 1,073 Finance lease assets obtained in exchange for new finance lease liabilities 709 Minimum lease payments under operating and capital leases as determined under prior leasing guidance and as of January 31, 2019 were as follows: Operating Capital Leases Leases Fiscal year ended January 31, (in thousands) 2020 $ 20,117 $ 1,933 2021 18,786 1,831 2022 17,994 1,524 2023 17,117 882 2024 16,143 342 Thereafter 68,409 1,701 Total lease payments $ 158,566 8,213 Less: Interest 1,804 Present value of capital lease liabilities $ 6,409 As Lessor The Company rents equipment to customers, primarily in the Construction segment, on a short-term basis. Our rental arrangements generally do not include minimum, noncancellable periods as the lessee is entitled to cancel the arrangement at any time. Most often, our rental arrangements extend for periods ranging from a few days to a few months. We maintain a fleet of dedicated rental assets within our Construction segment and, within all segments, may also provide short-term rentals of certain equipment inventory assets. Certain rental arrangements may include rent-to-purchase options whereby customers are given a period of time to exercise an option to purchase the related equipment at an established price with any rental payments paid applied to reduce the purchase price. All of the Company's leasing arrangements as lessor are classified as operating leases. Rental revenue is recognized on a straight-line basis over the rental period. Rental revenue includes amounts charged for loss and damage insurance on rented equipment. In most cases, our rental arrangements include non-lease components, including delivery and pick-up services. The Company accounts for these non-lease components separate from the rental arrangement and recognizes the revenue associated with these components when the service is performed. The Company has elected to exclude from rental revenue all sales, value added and other taxes collected from our customers concurrent with our rental activities. Rental billings most often occur on a monthly basis and may be billed in advance or in arrears, thus creating unbilled rental receivables or deferred rental revenue amounts. The Company manages the residual value risk of its rented assets by (i) monitoring the quality, aging and anticipated retail market value of our rental fleet assets to determine the optimal period to remove an asset from the rental fleet, (ii) maintaining the quality of our assets through on-site parts and service support and (iii) requiring physical damage insurance of our lessee customers. We primarily dispose of our rental assets through the sale of the asset by our retail sales force. Revenue generated from leasing activities is disclosed, by segment, in Note 3. The following is the balance of our dedicated rental fleet assets of our Construction segment as of July 31, 2019 and January 31, 2019 : July 31, 2019 January 31, 2019 (in thousands) Rental fleet equipment $ 118,124 $ 111,164 Less accumulated depreciation 49,728 50,399 $ 68,396 $ 60,765

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jul. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS As of July 31, 2019 and January 31, 2019 , the fair value of the Company's foreign currency contracts, which are either assets or liabilities measured at fair value on a recurring basis, was not material. These foreign currency contracts were valued using a discounted cash flow analysis, an income approach, utilizing readily observable market data as inputs, which is classified as a Level 2 fair value measurement. The Company also valued certain long-lived assets at fair value on a non-recurring basis as of January 31, 2019 as part of its long-lived asset impairment testing. The estimated fair value of such assets $0.9 million . Fair value was estimated through an income approach incorporating both observable and unobservable inputs, and are deemed to be Level 3 fair value inputs. The most significant unobservable inputs include forecasted net cash generated from the use of the assets and the discount rate applied to such cash flows to arrive at a fair value estimate. The Company also has financial instruments that are not recorded at fair value in the consolidated balance sheets, including cash, receivables, payables, long-term debt and senior convertible notes. The carrying amounts of these financial instruments approximated their fair values as of July 31, 2019 and January 31, 2019 . Fair value of these financial instruments was estimated based on Level 2 fair value inputs.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jul. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective tax rate was 25.8% and 33.5% for the three months ended July 31, 2019 and 2018 , and was 26.7% and 36.6% for the six months ended July 31, 2019 and 2018 . Our effective tax rate differs from the domestic federal statutory tax rate due to the mix of domestic and foreign income or losses and the impact of the recognition of valuation allowances on our U.S. federal, state and certain of our foreign deferred tax assets, including net operating losses.

BUSINESS COMBINATIONS (Notes)

BUSINESS COMBINATIONS (Notes)	6 Months Ended
	Jul. 31, 2019
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	BUSINESS COMBINATIONS Fiscal 2020 On January 1, 2019, the Company, through its German subsidiary, acquired certain assets of ESB Agrartechnik GmbH ("ESB"). ESB is a full-service agriculture equipment dealership in Eastern Germany. Our acquisition of ESB further expands our presence in the German market. The transaction was accounted for as a business combination. The total consideration transferred for the acquired business was $3.0 million paid in cash. The business assets acquired consisted of $1.5 million in inventory, $0.8 million of other tangible assets, and $0.7 million of intangible assets, which included $0.5 million of goodwill that will be assigned to the International segment and is expected to be deductible for income tax purposes. The recognition of goodwill arose primarily from the acquisition of an assembled workforce. Acquisition-related transaction costs were not material. This acquisition was recognized in the fiscal year ending January 31, 2020 as the acquisition occurred within our International segment in which all entities maintain a calendar year reporting period. Fiscal 2019 On July 2, 2018, the Company acquired all interests of two commonly-controlled companies, AGRAM Landtechnikvertrieb GmbH and AGRAM Landtechnik Rollwitz GmbH (collectively "AGRAM"), for $19.2 million in cash consideration. Founded in 1990, AGRAM is a CaseIH and Steyr dealership complex consisting of four agriculture dealership locations in the following cities of Germany: Altranft, Burkau, Gutzkow, and Rollwitz. Our acquisition of these entities provides the Company the opportunity to expand our international presence into the large, well-established German market. The AGRAM acquisition has been accounted for under the acquisition method of accounting, which requires the Company to estimate the acquisition date fair value of the assets acquired and liabilities assumed. The fair value of the consideration paid exceeded the estimated fair value of the assets acquired and liabilities assumed, which resulted in the recognition of $0.9 million of goodwill. The recognition of goodwill arose from the acquisition of an assembled workforce and anticipated synergies within our International segment. The entire goodwill amount was assigned to the International segment and is not expected to be deductible for income tax purposes. The Company recognized a customer relationship intangible asset in the amount of $0.1 million , which will be amortized over a three-year period, and recognized a distribution rights intangible asset in the amount of $1.8 million that is an indefinite-lived intangible asset not subject to amortization. The Company estimated the fair value of the customer relationship and distribution rights intangible assets using a multi-period excess earnings model, an income approach. All acquisition-related costs, which amounted to $0.2 million , have been expensed as incurred and recognized as operating expenses in the consolidated statement of operations. The allocation of the purchase price to the assets acquired and liabilities assumed was as follows: (in thousands) Assets acquired: Cash $ 3,857 Receivables 5,340 Inventories 21,725 Prepaid expenses and other 887 Property and equipment 3,512 Intangible assets 1,944 Goodwill 924 Other 61 $ 38,250 Liabilities assumed: Accounts payable 1,553 Floorplan payable 13,820 Deferred revenue 85 Accrued expenses and other 1,279 Long-term debt 1,725 Deferred income taxes 632 $ 19,094 Net assets acquired $ 19,156

CONTINGENCIES (Notes)

CONTINGENCIES (Notes)	6 Months Ended
	Jul. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 17 - CONTINGENCIES On October 11, 2017, the Romania Competition Council (“RCC”) initiated an administrative investigation of the Romanian Association of Manufacturers and Importers of Agricultural Machinery (“APIMAR”) and all its members, including Titan Machinery Romania. The RCC's investigation involves whether the APIMAR members engaged in anti-competitive practices in their sales of agricultural machinery not involving European Union ("EU") subvention funding programs, by referring to the published sales prices governing EU subvention funded transactions, which prices are mandatorily disclosed to and published by AFIR, a Romanian government agency that oversees the EU subvention funding programs in Romania. The investigation is in a preliminary stage and the Company is currently unable to predict its outcome or reasonably estimate any potential loss that may result from the investigation. The Company is also engaged in other legal proceedings incidental to the normal course of business. Due to their nature, such legal proceedings involve inherent uncertainties, including but not limited to, court rulings, negotiations between affected parties and governmental intervention. Based upon the information available to the Company and discussions with legal counsel, it is the Company's opinion that the outcome of these various legal actions and claims will not have a material impact on the financial position, results of operations or cash flows. These matters, however, are subject to many uncertainties, and the outcome of any matter is not predictable with assurance.

SEGMENT INFORMATION AND OPERATI

SEGMENT INFORMATION AND OPERATING RESULTS	6 Months Ended
	Jul. 31, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION AND OPERATING RESULTS	SEGMENT INFORMATION The Company has three reportable segments: Agriculture, Construction and International. Revenue between segments is immaterial. The Company retains various unallocated income/(expense) items and assets at the general corporate level, which the Company refers to as “Shared Resources” in the table below. Shared Resources assets primarily consist of cash and property and equipment. Certain financial information for each of the Company’s business segments is set forth below. All revenue amounts for the three and six months ended July 31, 218 shown below are presented on an as corrected basis following the correction of an immaterial error identified in previously issued financial statements. Refer to Note 19 for additional details. Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands) (in thousands) Revenue Agriculture $ 165,692 $ 151,877 $ 319,464 $ 293,831 Construction 84,039 77,521 154,782 138,566 International 65,250 67,833 119,025 108,549 Total $ 314,981 $ 297,231 $ 593,271 $ 540,946 Income (Loss) Before Income Taxes Agriculture $ 6,177 $ 4,960 $ 8,053 $ 6,283 Construction 1,334 (30 ) (888 ) (2,927 ) International 505 3,726 722 3,639 Segment income (loss) before income taxes 8,016 8,656 7,887 6,995 Shared Resources (589 ) (864 ) (975 ) (1,368 ) Total $ 7,427 $ 7,792 $ 6,912 $ 5,627 July 31, 2019 January 31, 2019 (in thousands) Total Assets Agriculture $ 448,515 $ 316,224 Construction 287,814 227,261 International 226,324 170,187 Segment assets 962,653 713,672 Shared Resources 66,543 78,766 Total $ 1,029,196 $ 792,438

IMMATERIAL RESTATEMENT (Notes)

IMMATERIAL RESTATEMENT (Notes)	6 Months Ended
	Jul. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Accounting Changes and Error Corrections [Text Block]	IMMATERIAL RESTATEMENT OF PRIOR PERIOD FINANCIAL STATEMENTS As previously disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2019, the Company identified an immaterial error within its financial statements, including in the results for the three and six months ended July 31, 2018. The identified error was the result of incorrectly eliminating certain internal parts and service transactions. The adjustments to correct for this error reduce total revenue and cost of revenue by approximately 1.0% and impact the amounts of previously reported equipment, parts, service and rental and other revenue and cost of revenue amounts, but have no impact on total gross profit, operating or net income, earnings per share, or the consolidated balance sheets or statements of cash flows. Management of the Company has evaluated all relevant quantitative and qualitative factors and has concluded that the error is not material to the results of operations for the previously reported periods. The Company has restated its accompanying statement of operations to correct for this immaterial error for the three and six months ended July 31, 2018 . Included below is a summary of the previously reported amounts of revenue and cost of revenue, the impact of correcting for this immaterial error, and the as-corrected amounts for the three and six month periods ended July 31, 2018 : Three Months Ended July 31, 2018 Six Months Ended July 31, 2018 As Previously Reported Corrections As Corrected As Previously Reported Corrections As Corrected (in thousands) Revenue Equipment $ 192,721 $ 10,905 $ 203,626 $ 349,625 $ 21,771 $ 371,396 Parts 59,998 (4,547 ) 55,451 111,533 (9,220 ) 102,313 Service 31,271 (8,102 ) 23,169 58,627 (15,422 ) 43,205 Rental and other 15,901 (916 ) 14,985 25,784 (1,752 ) 24,032 Total Revenue 299,891 (2,660 ) 297,231 545,569 (4,623 ) 540,946 Cost of Revenue Equipment 174,472 6,709 181,181 316,239 14,165 330,404 Parts 42,544 (3,195 ) 39,349 79,202 (6,614 ) 72,588 Service 11,432 (4,136 ) 7,296 22,634 (8,471 ) 14,163 Rental and other 12,542 (2,038 ) 10,504 21,035 (3,703 ) 17,332 Total Cost of Revenue 240,990 (2,660 ) 238,330 439,110 (4,623 ) 434,487 Gross Profit $ 58,901 $ — $ 58,901 $ 106,459 $ — $ 106,459

BUSINESS ACTIVITY AND SIGNIFI_2

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jul. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. The quarterly operating results for Titan Machinery Inc. (the “Company”) are subject to fluctuation due to varying weather patterns, which may impact the timing and amount of equipment purchases, rentals, and after-sales parts and service purchases by the Company’s Agriculture, Construction and International customers. Therefore, operating results for the six -month period ended July 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2020 . The information contained in the consolidated balance sheet as of January 31, 2019 was derived from the audited consolidated financial statements for the Company for the fiscal year then ended. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2019 as filed with the SEC.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates, particularly related to realization of inventory, impairment of long-lived assets, collectability of receivables, and income taxes.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All material accounts, transactions and profits between the consolidated companies have been eliminated in consolidation. Reclassifications Concurrent with the adoption of new lease accounting guidance, the Company elected to reclassify finance lease liabilities in the accompanying consolidated balance sheet as of January 31, 2019 to maintain consistency and comparability between periods presented. The amounts reclassified included $1.3 million from current maturities of long-term debt to accrued expenses and other and $5.1 million from long-term debt, less current maturities to other long-term liabilities. These reclassifications had no impact on total current liabilities, total long-term liabilities or total liabilities and stockholders' equity within the consolidated balance sheets. Certain reclassifications of amounts previously reported within the consolidated statements of cash flows have been made to maintain consistency and comparability between periods presented. These reclassifications had no impact on previously reported cash flows from operating, investing or financing activities within the consolidated statements of cash flows.
New Accounting Pronouncements	Recently Adopted Accounting Guidance In February 2016, the Financial Accounting Standards Board ("FASB") issued a new leasing standard applicable for lessees and lessors and codified in Accounting Standards Codification 842, Leases, ("ASC 842") to increase transparency and comparability among organizations. Most prominent among the changes in the standard is the recognition on the balance sheet by a lessee of right-of-use assets and lease liabilities for most leases. The standard also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from lease activities. This guidance is effective for reporting periods beginning after December 15, 2018. The Company adopted the leasing guidance on February 1, 2019 using a prospective transition method at the adoption date and recognized a cumulative-effect adjustment to the opening balance of retained earnings as a result of adoption. Under this method of adoption, prior period amounts are not adjusted and will continue to be reported under accounting standards in effect for those periods. The Company elected the package of practical expedients afforded under the guidance, which applies to leases that commenced prior to adoption and permits an entity not to: 1) reassess whether existing or expired contracts are or contain a lease, 2) reassess the lease classification, and 3) reassess any initial direct costs for any existing leases. The Company did not elect the use of the hindsight practical expedient to determine the lease term, but rather included the lease term as defined under former leasing guidance to capitalize the right-of-use asset and lease liability upon adoption. The Company identified new, and updated existing, internal controls and processes to ensure compliance with the new standard, but such modifications were not deemed to be material to our overall system of internal controls. Adoption of the new standard for leasing transactions in which the Company is the lessee had a material impact on our consolidated balance sheet but did not have an impact on our consolidated statement of operations or cash flows. The most significant impact was the recognition of right-of-use assets and lease liabilities for operating leases, while the accounting for financing leases remained substantially unchanged. We recognized a cumulative-effect adjustment to retained earnings as of February 1, 2019 of $5.5 million primarily resulting from impairment of operating lease right-of-use assets present on the date of adoption, net of the deferred tax impact. The adoption of the new standard for leasing transactions in which the Company is the lessor did not impact our consolidated balance sheet, statement of operations or cash flows. The Company has included the additional disclosures required under ASC 842 in Note 13. Adoption of ASC 842 impacted our consolidated balance sheet as of February 1, 2019 as follows: January 31, 2019 As Reported ASC 842 Adjustment on February 1, 2019 February 1, 2019 As Adjusted (in thousands) Assets Operating lease assets $ — $ 100,469 (a) $ 100,469 Liabilities and Stockholders' Equity Current maturities of long-term debt 3,340 (1,273 ) (b) 2,067 Current operating lease liabilities — 12,266 (c) 12,266 Accrued expenses and other 35,091 972 (d) 36,063 Long-term debt, less current maturities 25,812 (5,136 ) (b) 20,676 Operating lease liabilities — 98,250 (c) 98,250 Deferred income taxes 4,955 (374 ) (e) 4,581 Other long-term liabilities 5,908 1,228 (f) 7,136 Retained earnings 89,228 (5,464 ) (g) 83,764 (a) Capitalization of operating lease assets, net of straight-line rent accrued liabilities, cease-use liabilities, and right-of-use asset impairment present on the date of adoption. (b) As described above under Reclassifications , concurrent with the adoption of ASC 842, the Company elected to reclassify current maturities of finance lease liabilities from Current maturities of long-term debt to Accrued expenses and other and the long-term portion of finance lease liabilities from Long-term debt, less current maturities to Other long-term liabilities in the accompanying consolidated balance sheet as of January 31, 2019 to maintain consistency and comparability between periods presented. (c) Recognition of operating lease liabilities. (d) As described in (b) above, includes the reclassification of current maturities of finance lease liabilities, net of the reclassification of the current portion of cease-use liabilities to Operating lease assets as part of the adoption of ASC 842. (e) Deferred tax impact of adoption, primarily resulting from operating lease right-of-use asset impairment recognized upon adoption, net of the valuation allowance recognized for such deferred tax assets. (f) As described in (b) above, includes the reclassification of finance lease liabilities, net of the ASC 842 adoption impact of reclassifying straight-line rent accrued liabilities and cease-use liabilities, and the cumulative-effect adjustment recognized in retained earnings for gains deferred on previous sale-leaseback transactions. (g) Cumulative-effect adjustment of $6.6 million for operating lease right-of-use asset impairment present on the date of adoption net of the adjustment for deferred gains on previous sale-leaseback transactions of $0.7 million and the deferred tax impact of these adjustments, net of the valuation allowance recognized on such deferred tax assets. Unadopted Accounting Guidance In June 2016, the FASB issued a new standard, codified in ASC 326, that modifies how entities measure credit losses on most financial instruments. The new standard replaces the current "incurred loss" model with an "expected credit loss" model that requires consideration of a broader range of information to estimate expected credit losses over the lifetime of the asset. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, and will be applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date to align our credit loss methodology with the new standard. While we are currently evaluating the impact to our consolidated financial statements of adopting this guidance, we do not anticipate that the guidance will materially impact our consolidated financial statements. In February 2018, the FASB issued guidance on the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract, codified in ASC 350-40. This guidance aligns the accounting for costs incurred to implement a cloud computing arrangement that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, and may be applied using either a retrospective or prospective transition approach. We are currently evaluating the impact to our consolidated financial statements of adopting this guidance.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jul. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table sets forth the calculation of basic and diluted EPS: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands, except per share data) Numerator: Net income $ 5,511 $ 5,180 $ 5,066 $ 3,566 Allocation to participating securities (82 ) (80 ) (76 ) (57 ) Net income attributable to Titan Machinery Inc. common stockholders $ 5,429 $ 5,100 $ 4,990 $ 3,509 Denominator: Basic weighted-average common shares outstanding 21,960 21,826 21,917 21,781 Plus: incremental shares from assumed exercises of stock options and vesting of restricted stock units 4 5 5 7 Diluted weighted-average common shares outstanding 21,964 21,831 21,922 21,788 Earnings Per Share: Basic $ 0.25 $ 0.23 $ 0.23 $ 0.16 Diluted $ 0.25 $ 0.23 $ 0.23 $ 0.16 Anti-dilutive shares excluded from diluted weighted-average common shares outstanding: Stock options and restricted stock units — 53 — 53 Shares underlying senior convertible notes — 1,057 — 1,057

RECEIVABLES (Tables)

RECEIVABLES (Tables)	6 Months Ended
	Jul. 31, 2019
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	July 31, 2019 January 31, 2019 (in thousands) Trade and unbilled receivables from contracts with customers Trade receivables due from customers $ 41,556 $ 38,827 Trade receivables due from finance companies 16,188 10,265 Unbilled receivables 16,701 11,222 Trade and unbilled receivables from rental contracts Trade receivables 7,967 6,386 Unbilled receivables 1,392 828 Other receivables Due from manufacturers 6,254 12,950 Other 1,247 550 Total receivables 91,305 81,028 Less allowance for doubtful accounts (4,819 ) (3,528 ) Receivables, net of allowance for doubtful accounts $ 86,486 $ 77,500
Impaired Financing Receivables [Table Text Block]	The following table presents impairment losses on receivables arising from sales contracts with customers and receivables arising from rental contracts: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands) Impairment losses on: Receivables from sales contracts $ 658 $ 177 $ 986 $ 330 Receivables from rental contracts 414 115 497 159 $ 1,072 $ 292 $ 1,483 $ 489

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jul. 31, 2019
DISAGGREGATED REVENUE [Abstract]
Disaggregation of Revenue [Table Text Block]	The following tables present our revenue disaggregated by revenue source and segment: Three Months Ended July 31, 2019 Three Months Ended July 31, 2018 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 111,212 $ 51,396 $ 51,827 $ 214,435 $ 101,078 $ 46,226 $ 56,322 $ 203,626 Parts 35,054 13,066 11,082 59,202 33,290 12,441 9,720 55,451 Service 18,000 6,968 1,864 26,832 15,956 6,127 1,086 23,169 Other 793 820 130 1,743 725 1,083 74 1,882 Revenue from contracts with customers 165,059 72,250 64,903 302,212 151,049 65,877 67,202 284,128 Rental 633 11,789 347 12,769 828 11,644 631 13,103 Total revenues $ 165,692 $ 84,039 $ 65,250 $ 314,981 $ 151,877 $ 77,521 $ 67,833 $ 297,231 Six Months Ended July 31, 2019 Six Months Ended July 31, 2018 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 219,075 $ 94,442 $ 94,873 $ 408,390 $ 199,189 $ 82,265 $ 89,942 $ 371,396 Parts 65,029 25,770 20,341 111,140 62,521 23,914 15,878 102,313 Service 32,984 13,489 3,189 49,662 29,797 11,643 1,765 43,205 Other 1,412 1,413 152 2,977 1,270 1,795 108 3,173 Revenue from contracts with customers 318,500 135,114 118,555 572,169 292,777 119,617 107,693 520,087 Rental 964 19,668 470 21,102 1,054 18,949 856 20,859 Total revenues $ 319,464 $ 154,782 $ 119,025 $ 593,271 $ 293,831 $ 138,566 $ 108,549 $ 540,946

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jul. 31, 2019
Inventory Disclosure [Abstract]
Schedule of inventories	July 31, 2019 January 31, 2019 (in thousands) New equipment $ 410,020 $ 258,081 Used equipment 137,171 158,951 Parts and attachments 80,088 72,760 Work in process 1,967 1,299 $ 629,246 $ 491,091

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jul. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	July 31, 2019 January 31, 2019 (in thousands) Rental fleet equipment $ 118,124 $ 111,164 Machinery and equipment 21,938 21,646 Vehicles 47,390 42,330 Furniture and fixtures 40,979 40,645 Land, buildings, and leasehold improvements 63,641 63,091 292,072 278,876 Less accumulated depreciation (145,164 ) (139,926 ) $ 146,908 $ 138,950

LINES OF CREDIT _ FLOORPLAN P_2

LINES OF CREDIT / FLOORPLAN PAYABLE Summary of Outstanding Amounts (Tables)	6 Months Ended
	Jul. 31, 2019
Payables and Accruals [Abstract]
Schedule of Line of Credit Facilities [Table Text Block]	July 31, 2019 January 31, 2019 (in thousands) CNH Industrial $ 262,370 $ 120,319 Wells Fargo Credit Agreement (floorplan payable line) 93,150 49,100 DLL Finance 26,134 13,432 Other outstanding balances with manufacturers and non-manufacturers 70,280 90,905 $ 451,934 $ 273,756

DEFERRED REVENUE (Tables)

DEFERRED REVENUE (Tables)	6 Months Ended
	Jul. 31, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]	July 31, 2019 January 31, 2019 (in thousands) Deferred revenue from contracts with customers $ 29,328 $ 44,893 Deferred revenue from rental and other contracts 1,212 1,516 $ 30,540 $ 46,409

SENIOR CONVERTIBLE NOTES (Table

SENIOR CONVERTIBLE NOTES (Tables) - Senior Convertible Notes	6 Months Ended
	Jul. 31, 2019
SENIOR CONVERTIBLE NOTES
Schedule of 3.75% Senior Convertible Notes	: July 31, 2019 January 31, 2019 (in thousands except conversion rate and conversion price) Principal value $ — $ 45,644 Unamortized debt discount — (350 ) Unamortized debt issuance costs — (45 ) Carrying value of senior convertible notes $ — $ 45,249 Carrying value of equity component, net of deferred taxes $ — $ 14,923
Senior Convertible Notes Interest Expense	The Company recognized interest expense associated with its senior convertible notes as follows: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands) (in thousands) Cash Interest Expense Coupon interest expense $ — $ 546 $ 421 $ 1,151 Noncash Interest Expense Amortization of debt discount — 446 350 915 Amortization of transaction costs — 59 45 123 $ — $ 1,051 $ 816 $ 2,189

LONG TERM DEBT (Tables)

LONG TERM DEBT (Tables)	6 Months Ended
	Jul. 31, 2019
Long Term Debt Excluding Senior Convertible Notes [Member]
Debt Instrument [Line Items]
Schedule of Long-term Debt Instruments [Table Text Block]	The following is a summary of long-term debt as of July 31, 2019 and January 31, 2019 : July 31, 2019 January 31, 2019 (in thousands) Sale-leaseback financing obligations, interest rates ranging from 3.4% to 10.3% with various maturity dates through December 2030 $ 18,404 $ 19,010 Real estate mortgage bearing interest at 5.11%, payable in quarterly installments of $0.3 million, maturing on May 15, 2039, secured by real estate assets 6,826 — Equipment financing loan, payable in monthly installments over a 72-month term for each funded tranche, bearing interest at 3.89%, secured by vehicle assets 4,926 — Real estate mortgage bearing interest at 4.62%, payable in monthly installments of $0.04 million with a final payment at maturity of $3.4 million, maturing on June 10, 2024, secured by real estate assets 4,514 — Real estate mortgage bearing interest at 2.09%, payable in monthly installments, maturing on June 30, 2026, secured by real estate assets 2,790 2,978 Other long-term debt primarily bearing interest at three-month EURIBOR plus 2.6%, payable in quarterly installments, maturing on January 31, 2021 427 755 37,887 22,743 Less current maturities (3,306 ) (2,067 ) $ 34,581 $ 20,676

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jul. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of gains and losses recognized on derivative instruments	The following table sets forth the gains and losses recognized in income from the the Company’s derivative instruments for the three and six months ended July 31, 2019 and 2018 . Gains and losses are recognized in interest income and other income (expense) in the consolidated statements of operations: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands) Foreign currency contracts $ 166 $ 588 $ 368 $ 1,123

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME AOCI (Tables)	6 Months Ended
	Jul. 31, 2019
Other Income and Expenses [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following is a summary of the changes in accumulated other comprehensive income (loss), by component, for the periods ended July 31, 2019 and July 31, 2018 : Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2019 $ (5,051 ) $ 2,711 $ (2,340 ) Other comprehensive loss (771 ) — (771 ) Balance, April 30, 2019 (5,822 ) 2,711 (3,111 ) Other comprehensive income 1,012 — 1,012 Balance, July 31, 2019 $ (4,810 ) $ 2,711 $ (2,099 ) Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2018 $ (4,411 ) $ 2,711 $ (1,700 ) Other comprehensive income 1,301 — 1,301 Balance, April 30, 2018 (3,110 ) 2,711 (399 ) Other comprehensive loss (1,408 ) — (1,408 ) Balance, July 31, 2018 $ (4,518 ) $ 2,711 $ (1,807 )

LEASES (Tables)

LEASES (Tables) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 31, 2019	Jan. 31, 2019
Lease Expense [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense were as follows: Classification Three Months Ended July 31, 2019 Six Months Ended July 31, 2019 (in thousands) Finance lease cost: Amortization of leased assets Operating expenses $ 331 $ 707 Interest on lease liabilities Other interest expense 139 278 Operating lease cost Operating expenses & rental and other cost of revenue 4,725 9,541 Short-term lease cost Operating expenses 80 160 Variable lease cost Operating expenses 715 1,335 Sublease income Interest income and other income (expense) (154 ) (321 ) $ 5,836 $ 11,700
Summary of Lease Assets and Liabilities [Table Text Block]	Right-of-use lease assets and lease liabilities consist of the following: Classification July 31, 2019 (in thousands) Assets Operating lease assets Operating lease assets $ 95,432 Finance lease assets (a) Property and equipment, net of accumulated depreciation 6,477 Total leased assets $ 101,909 Liabilities Current Operating Current operating lease liabilities $ 12,184 Finance Accrued expenses and other 1,607 Noncurrent Operating Operating lease liabilities 93,248 Finance Other long-term liabilities 4,521 Total lease liabilities $ 111,560
Summary of Lease Maturities [Table Text Block]	Maturities of lease liabilities as of July 31, 2019 are as follows: Operating Finance Leases Leases Total Fiscal Year Ended January 31, (in thousands) 2020 (remainder) $ 9,264 $ 1,062 $ 10,326 2021 17,540 2,013 19,553 2022 16,722 1,689 18,411 2023 15,653 1,064 16,717 2024 14,746 371 15,117 2025 13,613 327 13,940 Thereafter 47,215 1,386 48,601 Total lease payments 134,753 7,912 142,665 Less: Interest 29,321 1,784 31,105 Present value of lease liabilities $ 105,432 $ 6,128 $ 111,560
Weighted-Average Lease Term and Discount Rate [Table Text Block]	The weighted-average lease term and discount rate as of July 31, 2019 are as follows: July 31, 2019 Weighted-average remaining lease term (years): Operating leases 8.3 Financing leases 5.4 Weighted-average discount rate: Operating leases 6.1 % Financing leases 10.0 %
Operating Lease, Weighted Average Remaining Lease Term	8 years 4 months
Cash Flow Related to Leases [Table Text Block]	Other lease information is as follows: Six Months Ended July 31, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,587 Operating cash flows from finance leases 278 Financing cash flows from finance leases 858 Operating lease assets obtained in exchange for new operating lease liabilities 1,073 Finance lease assets obtained in exchange for new finance lease liabilities 709
Operating Lease, Payments	$ 9,587
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]		Minimum lease payments under operating and capital leases as determined under prior leasing guidance and as of January 31, 2019 were as follows: Operating Capital Leases Leases Fiscal year ended January 31, (in thousands) 2020 $ 20,117 $ 1,933 2021 18,786 1,831 2022 17,994 1,524 2023 17,117 882 2024 16,143 342 Thereafter 68,409 1,701 Total lease payments $ 158,566 8,213 Less: Interest 1,804 Present value of capital lease liabilities $ 6,409
Operating Leases, Future Minimum Payments Due		$ 158,566
Rental Fleet Assets [Table Text Block]	The following is the balance of our dedicated rental fleet assets of our Construction segment as of July 31, 2019 and January 31, 2019 : July 31, 2019 January 31, 2019 (in thousands) Rental fleet equipment $ 118,124 $ 111,164 Less accumulated depreciation 49,728 50,399 $ 68,396 $ 60,765

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Jul. 31, 2019
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	(in thousands) Assets acquired: Cash $ 3,857 Receivables 5,340 Inventories 21,725 Prepaid expenses and other 887 Property and equipment 3,512 Intangible assets 1,944 Goodwill 924 Other 61 $ 38,250 Liabilities assumed: Accounts payable 1,553 Floorplan payable 13,820 Deferred revenue 85 Accrued expenses and other 1,279 Long-term debt 1,725 Deferred income taxes 632 $ 19,094 Net assets acquired $ 19,156

SEGMENT INFORMATION AND OPERA_2

SEGMENT INFORMATION AND OPERATING RESULTS (Tables)	6 Months Ended
	Jul. 31, 2019
Segment Reporting [Abstract]
Schedule of financial information of business segments	Certain financial information for each of the Company’s business segments is set forth below. All revenue amounts for the three and six months ended July 31, 218 shown below are presented on an as corrected basis following the correction of an immaterial error identified in previously issued financial statements. Refer to Note 19 for additional details. Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 (in thousands) (in thousands) Revenue Agriculture $ 165,692 $ 151,877 $ 319,464 $ 293,831 Construction 84,039 77,521 154,782 138,566 International 65,250 67,833 119,025 108,549 Total $ 314,981 $ 297,231 $ 593,271 $ 540,946 Income (Loss) Before Income Taxes Agriculture $ 6,177 $ 4,960 $ 8,053 $ 6,283 Construction 1,334 (30 ) (888 ) (2,927 ) International 505 3,726 722 3,639 Segment income (loss) before income taxes 8,016 8,656 7,887 6,995 Shared Resources (589 ) (864 ) (975 ) (1,368 ) Total $ 7,427 $ 7,792 $ 6,912 $ 5,627 July 31, 2019 January 31, 2019 (in thousands) Total Assets Agriculture $ 448,515 $ 316,224 Construction 287,814 227,261 International 226,324 170,187 Segment assets 962,653 713,672 Shared Resources 66,543 78,766 Total $ 1,029,196 $ 792,438

IMMATERIAL RESTATEMENT (Tables)

IMMATERIAL RESTATEMENT (Tables)	6 Months Ended
	Jul. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	Included below is a summary of the previously reported amounts of revenue and cost of revenue, the impact of correcting for this immaterial error, and the as-corrected amounts for the three and six month periods ended July 31, 2018 : Three Months Ended July 31, 2018 Six Months Ended July 31, 2018 As Previously Reported Corrections As Corrected As Previously Reported Corrections As Corrected (in thousands) Revenue Equipment $ 192,721 $ 10,905 $ 203,626 $ 349,625 $ 21,771 $ 371,396 Parts 59,998 (4,547 ) 55,451 111,533 (9,220 ) 102,313 Service 31,271 (8,102 ) 23,169 58,627 (15,422 ) 43,205 Rental and other 15,901 (916 ) 14,985 25,784 (1,752 ) 24,032 Total Revenue 299,891 (2,660 ) 297,231 545,569 (4,623 ) 540,946 Cost of Revenue Equipment 174,472 6,709 181,181 316,239 14,165 330,404 Parts 42,544 (3,195 ) 39,349 79,202 (6,614 ) 72,588 Service 11,432 (4,136 ) 7,296 22,634 (8,471 ) 14,163 Rental and other 12,542 (2,038 ) 10,504 21,035 (3,703 ) 17,332 Total Cost of Revenue 240,990 (2,660 ) 238,330 439,110 (4,623 ) 434,487 Gross Profit $ 58,901 $ — $ 58,901 $ 106,459 $ — $ 106,459

BUSINESS ACTIVITY AND SIGNIFI_3

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Details 2) (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Feb. 01, 2019	Jan. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset	$ 95,432	$ 100,469
Notes and Loans Payable, Current	3,306	2,067	$ 2,067
Operating Lease, Liability, Current	12,184	12,266	0
Accrued Liabilities, Current	36,964	36,063	36,364
Notes and Loans, Noncurrent	34,581	20,676	20,676
Operating Lease, Liability	105,432	98,250
Deferred Tax Liabilities, Net, Noncurrent	4,492	4,581	4,955
Other Liabilities, Noncurrent	7,060	7,136	11,044
Retained Earnings (Accumulated Deficit)	88,830	83,764	89,228
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other Accrued Liabilities	1,300
Other Long-term Debt	$ 5,100
Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset		100,469
Notes and Loans Payable, Current		(1,273)
Operating Lease, Liability, Current		12,266
Accrued Liabilities, Current		972
Notes and Loans, Noncurrent		(5,136)
Operating Lease, Liability		98,250
Deferred Tax Liabilities, Net, Noncurrent		(374)
Other Liabilities, Noncurrent		1,228
Retained Earnings (Accumulated Deficit)		$ (5,464)
Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Notes and Loans Payable, Current			3,340
Accrued Liabilities, Current			35,091
Notes and Loans, Noncurrent			25,812
Deferred Tax Liabilities, Net, Noncurrent			4,955
Other Liabilities, Noncurrent			5,908
Retained Earnings (Accumulated Deficit)			$ 89,228

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 31, 2019	Apr. 30, 2019	Jul. 31, 2018	Apr. 30, 2018	Jul. 31, 2019	Jul. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 5,511	$ (445)	$ 5,180	$ (1,614)	$ 5,066	$ 3,566
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	82		80		76	57
Net Income (Loss) Available to Common Stockholders, Basic	$ 5,429		$ 5,100		$ 4,990	$ 3,509
Basic weighted-average common shares outstanding	21,960		21,826		21,917	21,781
Weighted Average Number Diluted Shares Outstanding Adjustment	4		5		5	7
Weighted Average Number of Shares Outstanding, Diluted	21,964		21,831		21,922	21,788
Earnings Per Share, Basic	$ 0.25		$ 0.23		$ 0.23	$ 0.16
Earnings Per Share, Diluted	$ 0.25		$ 0.23		$ 0.23	$ 0.16
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0		53		0	53
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Debt Instrument, Convertible, Conversion Price	$ 43.17				$ 43.17
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0		1,057		0	1,000

RECEIVABLES (Details)

RECEIVABLES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018	Jan. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue from Contracts with Customers, Impairment Loss	$ 658	$ 177	$ 986	$ 330
Accounts Receivable, Gross, Current	91,305		91,305		$ 81,028
Rental Contract, Impairment Loss	414	115	497	159
Allowance for Doubtful Accounts Receivable	(4,819)		(4,819)		(3,528)
Accounts Receivable, Net, Current	86,486		86,486		77,500
Unbilled Receivables, Current	16,701		16,701		11,222
Impaired Financing Receivables [Table Text Block]	1,072	$ 292	1,483	$ 489
Unbilled Receivables from Operating Leases and Rental Contracts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	1,392		1,392		828
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	41,556		41,556		38,827
Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	7,967		7,967		6,386
Trade Receivables due from Finance Companies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	16,188		16,188		10,265
Receivables due from Manufacturers [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	6,254		6,254		12,950
Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Current	$ 1,247		$ 1,247		$ 550

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 314,981	$ 297,231	$ 593,271	$ 540,946
Recognition of Deferred Revenue			(41,200)	(27,000)
Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	302,212	284,128	572,169	520,087
Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,743	1,882	2,977	3,173
Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	26,832	23,169	49,662	43,205
Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	59,202	55,451	111,140	102,313
Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	12,769	13,103	21,102	20,859
Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	214,435	203,626	408,390	371,396
Operating Segments [Member] | Agriculture [Member]
Disaggregation of Revenue [Line Items]
Revenues	165,692	151,877	319,464	293,831
Operating Segments [Member] | Agriculture [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	165,059	151,049	318,500	292,777
Operating Segments [Member] | Agriculture [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	793	725	1,412	1,270
Operating Segments [Member] | Agriculture [Member] | Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	18,000	15,956	32,984	29,797
Operating Segments [Member] | Agriculture [Member] | Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	35,054	33,290	65,029	62,521
Operating Segments [Member] | Agriculture [Member] | Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	633	828	964	1,054
Operating Segments [Member] | Agriculture [Member] | Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	111,212	101,078	219,075	199,189
Operating Segments [Member] | Construction [Member]
Disaggregation of Revenue [Line Items]
Revenues	84,039	77,521	154,782	138,566
Operating Segments [Member] | Construction [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	72,250	65,877	135,114	119,617
Operating Segments [Member] | Construction [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	820	1,083	1,413	1,795
Operating Segments [Member] | Construction [Member] | Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	6,968	6,127	13,489	11,643
Operating Segments [Member] | Construction [Member] | Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	13,066	12,441	25,770	23,914
Operating Segments [Member] | Construction [Member] | Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	11,789	11,644	19,668	18,949
Operating Segments [Member] | Construction [Member] | Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	51,396	46,226	94,442	82,265
Operating Segments [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenues	65,250	67,833	119,025	108,549
Operating Segments [Member] | International [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	64,903	67,202	118,555	107,693
Operating Segments [Member] | International [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	130	74	152	108
Operating Segments [Member] | International [Member] | Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,864	1,086	3,189	1,765
Operating Segments [Member] | International [Member] | Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	11,082	9,720	20,341	15,878
Operating Segments [Member] | International [Member] | Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	347	631	470	856
Operating Segments [Member] | International [Member] | Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	$ 51,827	$ 56,322	$ 94,873	$ 89,942

REVENUE Unbilled Receivables (D

REVENUE Unbilled Receivables (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Jan. 31, 2019
Unbilled Receivables [Abstract]
Unbilled Receivables, Current	$ 16,701	$ 11,222

REVENUE Deferred Revenue (Detai

REVENUE Deferred Revenue (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Jan. 31, 2019
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$ 30,540	$ 46,409
Deferred Revenue from Operating Leases and Rental Contracts [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	1,212	1,516
Deferred Revenue from Contracts with Customers [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$ 29,328	$ 44,893

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Jan. 31, 2019
Inventory Disclosure [Abstract]
New equipment	$ 410,020	$ 258,081
Used equipment	137,171	158,951
Parts and attachments	80,088	72,760
Work in process	1,967	1,299
Inventories	$ 629,246	$ 491,091

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018	Mar. 01, 2019	Jan. 31, 2019
PROPERTY AND EQUIPMENT
Other Asset Impairment Charges	$ 0	$ 156	$ 135	$ 156
Property and equipment, gross	292,072		292,072			$ 278,876
Less accumulated depreciation	(145,164)		(145,164)			(139,926)
Property and equipment, net	146,908		146,908			138,950
Capitalized Computer Software, Net					$ 8,700
Amortization	$ 1,400		$ 2,300
Earnings Per Share, Basic and Diluted	$ 0.05		$ 0.08
Rental fleet equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 118,124		$ 118,124			111,164
Machinery and equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	21,938		21,938			21,646
Vehicles
PROPERTY AND EQUIPMENT
Property and equipment, gross	47,390		47,390			42,330
Furniture and fixtures
PROPERTY AND EQUIPMENT
Property and equipment, gross	40,979		40,979			40,645
Land, buildings, and leasehold improvements
PROPERTY AND EQUIPMENT
Property and equipment, gross	63,641		63,641			63,091
Construction [Member]
PROPERTY AND EQUIPMENT
Impairment of Long-Lived Assets to be Disposed of			100
Construction [Member] | Rental fleet equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	118,124		118,124			111,164
Less accumulated depreciation	(49,728)		(49,728)			(50,399)
Property and equipment, net	68,396		68,396			$ 60,765
International [Member]
PROPERTY AND EQUIPMENT
Impairment of Long-Lived Assets to be Disposed of		$ 200
Operating Income (Loss) [Member]
PROPERTY AND EQUIPMENT
Net Income (Loss) Attributable to Parent	$ 1,100		$ 1,800

LINES OF CREDIT _ FLOORPLAN P_3

LINES OF CREDIT / FLOORPLAN PAYABLE (Details)	1 Months Ended	6 Months Ended
	Aug. 31, 2019	Jul. 31, 2019USD ($)	Aug. 01, 2019USD ($)	Jan. 31, 2019USD ($)
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity		$ 45,000,000	$ 60,000,000
Debt Instrument, Interest Rate, Stated Percentage		3.00%	2.85%
Floorplan Notes Payable		$ 451,934,000		$ 273,756,000
Compensating Balance, Amount		5,000,000
Line of Credit Facility Covenant, Maximum level of adjusted debt to tangible net worth	3.5
Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity		640,000,000
Amount outstanding		$ 451,934,000		$ 273,756,000
Floorplan Line of Credit | Non-US [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage		0.90%		0.90%
Floorplan Line of Credit | Maximum [Member] | Non-US [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage		8.60%		8.50%
Floorplan Notes Payable [Member] | U.S.
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage		4.65%		4.77%
Floorplan Notes Payable [Member] | Maximum [Member] | U.S.
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage		5.81%		6.30%
Non-Interest Bearing Floorplan Line of Credit [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Floorplan Notes Payable		$ 269,300,000		$ 151,700,000
Wells Fargo Credit Facility [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity		140,000,000
CNH Industrial Capital Credit Facility | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity		400,000,000
DLL Finance LLC [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity		45,000,000
Other Affiliates [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding		70,280,000		90,905,000
C N H Capital America L L C [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding		262,370,000		120,319,000
DLL Finance LLC [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding		$ 26,134,000		13,432,000
Wells Fargo Credit Facility [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Line of Credit Facility, Covenant Compliance, Minimum Fixed Charge Coverage Ratio		1.1
Wells Fargo Bank National Association [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding		$ 93,150,000		$ 49,100,000
Domestic Line of Credit [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity			$ 47,000,000
Foreign Line of Credit [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity			$ 13,000,000

SENIOR CONVERTIBLE NOTES (Detai

SENIOR CONVERTIBLE NOTES (Details) - USD ($) $ in Thousands	Jul. 31, 2019	May 01, 2019	Jan. 31, 2019
Convertible Notes
SENIOR CONVERTIBLE NOTES
Debt Instrument, Face Amount	$ 0	$ 45,600	$ 45,644

SENIOR CONVERTIBLE NOTES (Det_2

SENIOR CONVERTIBLE NOTES (Details 2) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019USD ($)	Jul. 31, 2018USD ($)	Jul. 31, 2019USD ($)	Jul. 31, 2018USD ($)	May 01, 2019USD ($)	Jan. 31, 2019USD ($)
SENIOR CONVERTIBLE NOTES
Repayments of Convertible Debt			$ 45,644	$ 20,025
Convertible notes
Gain (Loss) on Extinguishment of Debt			0	(615)
Coupon interest expense	$ 966	$ 2,490	2,607	4,520
Convertible Notes
Convertible notes
Principal value	0		0		$ 45,600	$ 45,644
Unamortized debt discount	0		0			(350)
Unamortized debt issuance costs	0		0			(45)
Carrying value of senior convertible notes	0		0			45,249
Carrying value of equity component, net of deferred taxes	0		$ 0			$ 14,923
Conversion rate			0.0231626
Amortization of debt discount	0	446	$ 350	915
Amortization of transaction costs	0	59	45	123
Interest Expense	$ 0	$ 1,051	$ 816	$ 2,189
Effective interest rate (as a percent)	7.30%	7.30%	7.30%	7.30%
Coupon interest expense	$ 0	$ 546	$ 421	$ 1,151

LONG TERM DEBT (Details)

LONG TERM DEBT (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Feb. 01, 2019	Jan. 31, 2019
Debt Instrument [Line Items]
Notes and Loans, Noncurrent	$ 34,581	$ 20,676	$ 20,676
Current maturities of long-term debt	3,306	$ 2,067	2,067
Notes and Loans Payable	37,887		22,743
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Notes and Loans Payable	18,404		19,010
Real Estate Loan [Member]
Debt Instrument [Line Items]
Notes and Loans Payable	6,826
Commercial Loan [Member]
Debt Instrument [Line Items]
Notes and Loans Payable	4,926
Loans and Finance Receivables [Member]
Debt Instrument [Line Items]
Notes and Loans Payable	4,514
Working Capital Line of Credit [Member]
Debt Instrument [Line Items]
Notes and Loans Payable	2,790		2,978
Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Notes and Loans Payable	$ 427		$ 755

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details 1) - USD ($) $ in Thousands	Jul. 31, 2019	Jan. 31, 2019
Foreign currency contracts | Not designated as hedging instruments | Cash Flow Hedges
DERIVATIVE INSTRUMENTS
Notional amount outstanding	$ 3,360	$ 14,055

DERIVATIVE INSTRUMENTS DERIVATE

DERIVATIVE INSTRUMENTS DERIVATE INSTRUMENTS (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Foreign currency contracts | Not designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in Income	$ 166	$ 588	$ 368	$ 1,123

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2019	Apr. 30, 2019	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2019	Jan. 31, 2018
Statement of Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (4,810)	$ (5,822)	$ (4,518)	$ (3,110)	$ (5,051)	$ (4,411)
Derivatives used in Net Investment Hedge, Net of Tax	2,711	2,711	2,711	2,711	2,711	2,711
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2,099)	(3,111)	(1,807)	(399)	$ (2,340)	$ (1,700)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	1,012	(771)	(1,408)	1,301
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 1,012	$ (771)	$ (1,408)	$ 1,301

LEASES Lease Expense (Details)

LEASES Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 31, 2019	Jul. 31, 2019
Leases [Abstract]
Finance Lease, Right-of-Use Asset, Amortization	$ 331	$ 707
Finance Lease, Interest Expense	139	278
Operating Lease, Cost	4,725	9,541
Short-term Lease, Cost	80	160
Variable Lease, Cost	715	1,335
Sublease Income	(154)	(321)
Lease, Cost	$ 5,836	$ 11,700

LEASES ROU Assets and Lease Lia

LEASES ROU Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Feb. 01, 2019	Jan. 31, 2019
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 95,432	$ 100,469
Finance Lease, Right-of-Use Asset	6,477
Lessee, Right-Of-Use Asset	101,909
Operating Lease, Liability, Current	12,184	$ 12,266	$ 0
Finance Lease, Liability, Current	1,607
Operating Lease, Liability, Noncurrent	93,248
Finance Lease, Liability, Noncurrent	4,521
Lessee, Lease Liability	$ 111,560

LEASES Maturities of Lease Liab

LEASES Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jul. 31, 2019	Feb. 01, 2019
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 20,117	$ 9,264
Capital Leases, Future Minimum Payments, Remainder of Fiscal Year	1,933
Finance Lease, Liability, Payments, Remainder of Fiscal Year		1,062
Lessee, Liability, Payments, Remainder of Fiscal Year		10,326
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months		17,540
Finance Lease, Liability, Payments, Due Next Twelve Months		2,013
Lessee, Liability, Payments, Due Next Twelve Months		19,553
Lessee, Operating Lease, Liability, Payments, Due Year Two	18,786	16,722
Capital Leases, Future Minimum Payments Due in Two Years	1,831
Finance Lease, Liability, Payments, Due Year Two		1,689
Lessee, Liability, Payments, Due Year Two		18,411
Lessee, Operating Lease, Liability, Payments, Due Year Three	17,994	15,653
Capital Leases, Future Minimum Payments Due in Three Years	1,524
Finance Lease, Liability, Payments, Due Year Three		1,064
Lessee, Liability, Payments, Due Year Three		16,717
Lessee, Operating Lease, Liability, Payments, Due Year Four	17,117	14,746
Capital Leases, Future Minimum Payments Due in Four Years	882
Finance Lease, Liability, Payments, Due Year Four		371
Lessee, Liability, Payments, Due Year Four		15,117
Lessee, Operating Lease, Liability, Payments, Due Year Five	16,143	13,613
Capital Leases, Future Minimum Payments Due in Five Years	342
Finance Lease, Liability, Payments, Due Year Five		327
Lessee, Liability, Payments, Due Year Five		13,940
Lessee, Operating Lease, Liability, Payments, Due after Year Five	68,409	47,215
Finance Lease, Liability, Payments, Due after Year Five		1,386
Lessee, Liability, Payments, Due After Year Five		48,601
Lessee, Operating Lease, Liability, Payments, Due		134,753
Finance Lease, Liability, Payments, Due		7,912
Lessee, Liability, Payments, Due		142,665
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		29,321
Finance Lease, Liability, Undiscounted Excess Amount		1,784
Lessee, Liability, Undiscounted Excess Amount		31,105
Operating Lease, Liability		105,432	$ 98,250
Finance Lease, Liability		6,128
Present Value of Lease Liabilities		$ 111,560
Capital Leases, Future Minimum Payments Due Thereafter	1,701
Operating Leases, Future Minimum Payments Due	158,566
Capital Leases, Future Minimum Payments Due	8,213
Interest Expense, Lessee, Assets under Capital Lease	1,804
Present Value Of Minimum Lease Payments, Capital Leases, Thereafter	$ 6,409

LEASES Weighted Average Lease T

LEASES Weighted Average Lease Terms (Details)	Jul. 31, 2019
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	8 years 4 months
Finance Lease, Weighted Average Remaining Lease Term	5 years 5 months
Operating Lease, Weighted Average Discount Rate, Percent	6.10%
Finance Lease, Weighted Average Discount Rate, Percent	10.00%

LEASES Other Lease Information

LEASES Other Lease Information (Details) $ in Thousands	6 Months Ended
	Jul. 31, 2019USD ($)
Leases [Abstract]
Operating Lease, Payments	$ 9,587
Finance Lease, Interest Payment on Liability	278
Finance Lease, Principal Payments	858
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	1,073
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	$ 709

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) $ in Millions	Jan. 31, 2019USD ($)
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value of Long-Lived Assets Analyzed for Impairment	$ 0.9

INCOME TAXES INCOME TAXES (Deta

INCOME TAXES INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
Income (Loss) Before Income Taxes	$ 7,427	$ 7,792	$ 6,912	$ 5,627
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective tax rate (as a percent)	(25.80%)	(33.50%)	(26.70%)	(36.60%)

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2018	Jul. 31, 2019	Jan. 31, 2019	Jan. 01, 2019
Business Acquisition [Line Items]
Goodwill		$ 1,649	$ 1,161
Cash Acquired from Acquisition	$ 3,857
Payments to Acquire Businesses, Gross	19,200
Business Combination, Acquired Receivable, Fair Value	5,340
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	21,725			$ 1,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	887
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	3,512
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	1,944			700
Goodwill, Acquired During Period	924
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	61			800
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	38,250
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	1,553
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities	13,820
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue	85
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	1,279
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt	1,725
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent	632
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	19,094
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	19,156
Finite-Lived Customer Relationships, Gross	100
Indefinite-lived Intangible Assets Acquired	1,800
Business Combination, Acquisition Related Costs	$ 200
Cash Consideration Paid [Domain]
Business Acquisition [Line Items]
Business Acquisition, Transaction Costs				3,000
International [Member]
Business Acquisition [Line Items]
Goodwill				$ 500

SEGMENT INFORMATION AND OPERA_3

SEGMENT INFORMATION AND OPERATING RESULTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018	Jan. 31, 2019
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	$ 314,981	$ 297,231	$ 593,271	$ 540,946
Income (Loss) Before Income Taxes	7,427	7,792	6,912	5,627
Total Assets	1,029,196		1,029,196		$ 792,438
Shared Resources
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes	(589)	(864)	(975)	(1,368)
Total Assets	66,543		66,543		78,766
Operating Segments
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes	8,016	8,656	7,887	6,995
Total Assets	962,653		962,653		713,672
Operating Segments | Agriculture [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	165,692	151,877
Income (Loss) Before Income Taxes	6,177	4,960
Operating Segments | Agriculture
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	165,692	151,877	319,464	293,831
Income (Loss) Before Income Taxes			8,053	6,283
Total Assets	448,515		448,515		316,224
Operating Segments | Construction
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	84,039	77,521	154,782	138,566
Income (Loss) Before Income Taxes	1,334	(30)	(888)	(2,927)
Total Assets	287,814		287,814		227,261
Operating Segments | International [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	65,250	67,833
Income (Loss) Before Income Taxes	505	3,726
Operating Segments | International [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	65,250	$ 67,833	119,025	108,549
Income (Loss) Before Income Taxes			722	$ 3,639
Total Assets	$ 226,324		$ 226,324		$ 170,187

IMMATERIAL RESTATEMENT (Details

IMMATERIAL RESTATEMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gross Profit	$ 64,027	$ 58,901	$ 117,926	$ 106,459
Revenues	314,981	297,231	593,271	540,946
Cost of Revenue	250,954	238,330	475,345	434,487
Other Cost of Operating Revenue	9,778	10,504	16,719	17,332
Cost of Service	8,737	7,296	16,219	14,163
Cost of Parts Sold	41,732	39,349	78,546	72,588
Cost of Equipment Sold	190,707	181,181	363,861	330,404
Sales Revenue Rental and Other	14,512	14,985	24,079	24,032
Sales Revenue Service	26,832	23,169	49,662	43,205
Sales Revenue Parts	59,202	55,451	111,140	102,313
Sales Revenue Equipment	214,435	203,626	408,390	371,396
Equipment Revenue, Previously Reported		192,721		349,625
Parts Revenue, Previously Reported		59,998		111,533
Service Revenue, Previously Reported		31,271		58,627
Other Revenue, Previously Reported		15,901		25,784
Revenue, Previously Reported		299,891		545,569
Equipment Cost of Sales, Previously Reported		174,472		316,239
Parts Cost of Sales, Previously Reported		42,544		79,202
Service Cost of Sales, Previously Reported		11,432		22,634
Other Cost of Sales, Previously Reported		12,542		21,035
Cost of Sales, Previously Reported		240,990		439,110
Gross Profit, Previously Reported		58,901		106,459
Cost of Sales [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		(2,660)		(4,623)
Sales Revenue, Net [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		(2,660)		(4,623)
Service Cost of Sales [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		(4,136)		(8,471)
Other Revenue [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		(916)		(1,752)
Revenues	1,743	1,882	2,977	3,173
Cost of Sales, Other [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		(2,038)		(3,703)
Service Cost of Sales [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		(3,195)		(6,614)
Equipment Cost of Sales [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		6,709		14,165
Other Revenue [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		(8,102)		(15,422)
Revenues	26,832	23,169	49,662	43,205
Equipment Revenue [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		10,905		21,771
Revenues	214,435	203,626	408,390	371,396
Service Revenue [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		(4,547)		(9,220)
Revenues	$ 59,202	$ 55,451	$ 111,140	$ 102,313