Titan Machinery (TITN) 10-Q 4 Sep 20 2021 Q2 Quarterly report Financial data

Cover

Cover	6 Months Ended
	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2020
Document Transition Report	false
Entity File Number	001-33866
Entity Registrant Name	TITAN MACHINERY INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-0357838
Entity Address, Address Line One	644 East Beaton Drive
Entity Address, City or Town	West Fargo,
Entity Address, State or Province	ND
Entity Address, Postal Zip Code	58078-2648
City Area Code	(701)
Local Phone Number	356-0130
Title of 12(b) Security	Common Stock, $0.00001 par value per share
Trading Symbol	TITN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 31, 2020	Aug. 31, 2020
Document and Entity Information
Entity Central Index Key	0001409171
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		22,533,401
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) shares in Thousands	Jul. 31, 2020	Jan. 31, 2020
Current Assets
Cash	$ 44,484,000	$ 43,721,000
Receivables, net of allowance for expected credit losses	75,782,000	72,776,000
Inventories	570,680,000	597,394,000
Prepaid expenses and other	7,144,000	13,655,000
Total current assets	698,090,000	727,546,000
Noncurrent Assets
Property and equipment, net of accumulated depreciation	150,496,000	145,562,000
Operating Lease, Right-of-Use Asset	83,586,000	88,281,000
Deferred Income Taxes and Other Assets, Noncurrent	3,337,000	2,147,000
Goodwill	2,818,000	2,327,000
Intangible assets, net of accumulated amortization	8,568,000	8,367,000
Other	1,130,000	1,113,000
Total noncurrent assets	249,935,000	247,797,000
Total Assets	948,025,000	975,343,000
Current Liabilities
Accounts payable	20,734,000	16,976,000
Floorplan payable	352,215,000	371,772,000
Current maturities of long-term debt	3,921,000	13,779,000
Operating Lease, Liability, Current	12,158,000	12,259,000
Deferred revenue	22,716,000	40,968,000
Accrued expenses and other	38,122,000	38,409,000
Total current liabilities	449,866,000	494,163,000
Long-Term Liabilities
Long-term debt, less current maturities	48,665,000	37,789,000
Operating Lease, Liability	83,341,000	88,387,000
Deferred Income Taxes and Other Tax Liabilities, Noncurrent	2,301,000	2,055,000
Other long-term liabilities	9,060,000	7,845,000
Total long-term liabilities	143,367,000	136,076,000
Commitments and Contingencies
Common stock, shares outstanding	22,553	22,335
Common stock, shares issued	22,553	22,335
Stockholders' Equity
Common stock, par value $.00001 per share, 45,000 shares authorized; 22,553 shares issued and outstanding at July 31, 2020; 22,335 shares issued and outstanding at January 31, 2020	$ 0	$ 0
Additional paid-in-capital	251,587,000	250,607,000
Retained earnings	106,175,000	97,717,000
Accumulated other comprehensive loss	(2,970,000)	(3,220,000)
Total Titan Machinery Inc. stockholders' equity	354,792,000	345,104,000
Total Liabilities and Stockholders' Equity	$ 948,025,000	$ 975,343,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Jul. 31, 2020	Jan. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value, in dollars per share	$ 0.00001	$ 0.00001
Common stock, shares authorized	45,000	45,000
Common stock, shares issued	22,553	22,335
Common stock, shares outstanding	22,553	22,335

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Revenue
Equipment	$ 202,654	$ 214,435	$ 421,159	$ 408,390
Parts	61,454	59,202	118,068	111,140
Service	27,986	26,832	53,586	49,662
Rental and Other	11,371	14,512	20,860	24,079
Total Revenue	303,465	314,981	613,673	593,271
Cost of Revenue
Equipment	180,231	190,707	377,278	363,861
Parts	43,032	41,732	82,649	78,546
Service	9,665	8,737	18,010	16,219
Rental and other	7,849	9,778	14,636	16,719
Total Cost of Revenue	240,777	250,954	492,573	475,345
Gross Profit	62,688	64,027	121,100	117,926
Operating Expenses	53,079	54,855	106,137	107,410
Other Asset Impairment Charges	0	0	216	135
Income from Operations	9,609	9,172	14,747	10,381
Other Income (Expense)
Interest and other income	562	620	692	1,414
Floorplan interest expense	(901)	(1,399)	(2,054)	(2,276)
Other interest expense	(978)	(966)	(1,944)	(2,607)
Income Before Income Taxes	8,292	7,427	11,441	6,912
Provision for Income Taxes	1,892	1,916	2,779	1,846
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 6,400	$ 5,511	$ 8,662	$ 5,066
Earnings per Share:
Earnings (Loss) per Share - Basic, in dollars per share	$ 0.28	$ 0.25	$ 0.39	$ 0.23
Earnings (Loss) per Share - Diluted, in dollars per share	$ 0.28	$ 0.25	$ 0.39	$ 0.23
Weighted Average Common Shares:	22,118	21,960	22,068	21,917
Basic	22,119	21,964	22,068	21,922

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 6,400	$ 5,511	$ 8,662	$ 5,066
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	778	1,012	250	241
Comprehensive Income (Loss)	$ 7,178	$ 6,523	$ 8,912	$ 5,307

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		22,218
Stockholders' Equity Attributable to Parent	$ 335,311		$ 248,423	$ 89,228	$ (2,340)
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)
APIC, Share-based Payment Arrangement, Increase for Cost 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 Attributable to Parent	328,742		248,534	83,319	(3,111)
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		170
APIC, Share-based Payment Arrangement, Increase for Cost 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
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Adjustments for New Accounting Pronouncement [Member]	(5,464)			(5,464)
Stockholders' Equity Attributable to Parent	335,959		249,228	88,830	(2,099)
Shares, Outstanding		22,335
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Adjustments for New Accounting Pronouncement [Member]	(204)			(204)
Stockholders' Equity Attributable to Parent	345,104		250,607	97,717	(3,220)
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		(21)
Stock Issued During Period, Value of Restricted Stock Award Stock Options Exercised Warrants Exercised and Tax Benefits of Equity Awards	(201)		(201)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	645		645
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	2,262			2,262
Other Comprehensive Income (Loss), Net of Tax	(528)				(528)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	8,662
Shares, Outstanding		22,314
Stockholders' Equity Attributable to Parent	347,078		251,051	99,775	(3,748)
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		239
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	536		536
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	6,400			6,400
Other Comprehensive Income (Loss), Net of Tax	778				778
Shares, Outstanding		22,553
Stockholders' Equity Attributable to Parent	$ 354,792		$ 251,587	$ 106,175	$ (2,970)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 8,662	$ 5,066
Adjustments to reconcile net income to net cash provided by (used for) operating activities
Depreciation and amortization	11,286	13,264
Impairment	216	135
Deferred income taxes	(944)	(251)
Stock-based compensation expense	1,181	1,297
Noncash interest expense	75	407
Noncash lease expense	5,717	6,198
Other, net	(368)	(8)
Changes in assets and liabilities
Receivables, prepaid expenses and other assets	3,347	(2,149)
Inventories	31,885	(140,149)
Manufacturer floorplan payable	(26,726)	128,635
Accounts payable, deferred revenue, accrued expenses and other and other long-term liabilities	(15,140)	(12,362)
Operating lease liabilities	(6,156)	(6,386)
Net Cash Provided by (Used for) Operating Activities	13,035	(6,303)
Investing Activities
Rental fleet purchases	(6,001)	(9,249)
Property and equipment purchases (excluding rental fleet)	(4,472)	(3,101)
Proceeds from sale of property and equipment	489	670
Acquisition consideration, net of cash acquired	(6,790)	(2,972)
Other, net	(20)	14
Net Cash Used for Investing Activities	(16,794)	(14,638)
Financing Activities
Net change in non-manufacturer floorplan payable	7,229	49,937
Principal payments on senior convertible notes	0	(45,644)
Proceeds from long-term debt borrowings	1,112	11,786
Principal payments on long-term debt and finance leases	(2,952)	(1,940)
Payment of debt issuance costs	(670)	0
Other, net	(200)	(492)
Net Cash Provided by Financing Activities	4,519	13,647
Effect of Exchange Rate Changes on Cash	3	66
Net Change in Cash	763	(7,228)
Cash at Beginning of Period	43,721	56,745
Cash at End of Period	44,484	49,517
Cash paid (received) during the period
Income taxes, net of refunds	(228)	3,064
Interest	4,103	4,705
Supplemental Disclosures of Noncash Investing and Financing Activities
Net property and equipment financed with long-term debt, finance leases, accounts payable and accrued liabilities	4,645	6,133
Net transfer of assets from (to) property and equipment to (from) inventories	$ 319	$ (2,995)

BUSINESS ACTIVITY AND SIGNIFICA

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jul. 31, 2020
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, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2021. The information contained in the consolidated balance sheet as of January 31, 2020 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, 2020 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, North Dakota, South Dakota, Wisconsin and Wyoming, and its European stores are located in Bulgaria, Germany, Romania, Serbia and Ukraine. Impact of the COVID-19 Pandemic In March 2020, the World Health Organization declared the outbreak of COVID-19 a pandemic, and the President of the United States declared the COVID-19 outbreak as a national emergency. The nature of COVID-19 led to worldwide shutdowns and halting of commercial and interpersonal activity as governments imposed regulations in efforts to control the spread of the pandemic, such as shelter-in-place orders and quarantines. The pandemic is a highly fluid and rapidly evolving situation, and we cannot anticipate with any certainty the length, scope, or severity of such restrictions in each of the markets that we operate. See Item 1A. Risk Factors for more information on possible impacts. Since the beginning of the COVID-19 pandemic, the safety of our employees and customers has been and continues to be our top concern. At the onset of the pandemic we organized a COVID Task Force to implement safety protocols and to quickly respond to matters, in the event of a positive case at one of our locations. Even though we are considered an essential business, in response to the COVID-19 pandemic, the Company closed its U.S. stores to the public on March 23, 2020 but continued operations through social distancing means in all areas: equipment, parts, service and rental. Beginning May 4, 2020, we began fully reopening our stores to the public, following pandemic safety protocols applicable to the locations. Additionally, our International stores have also been following pandemic safety protocols applicable to each location. By June 2020, all of our stores were open to the public but still maintain pandemic safety protocols. 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. Recently Adopted Accounting Guidance In June 2016, the Financial Accounting Standards Board ("FASB") issued a new standard, codified in ASC 326, that modifies how entities measure credit losses on most financial instruments. The new standard replaced the "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 guidance impacts the Company on its accounts receivable portfolio but specifically excluded receivables from operating lease arrangements and, therefore, the Company’s receivables from rental contracts were not impacted. The guidance also requires new disclosures to allow the users of the financial statements to understand the credit risk inherent in a portfolio and how management monitors the credit quality of the portfolio, management’s estimate of expected credit losses, and changes in the estimate of expected credit losses that have taken place during the reporting period. The Company adopted the new guidance on February 1, 2020 using a modified retrospective approach and recognized an immaterial cumulative-effect adjustment to retained earnings as of the effective date. The Company identified and updated existing internal controls and procedures to ensure compliance with the new guidance, but such modifications were not deemed to be material to the Company's overall system of internal control. While the adoption of this standard did not have a material impact on the Company's consolidated financial statements, it required changes to the Company's process of estimating expected credit losses on trade receivables. See footnote 4 for further discussion of our accounts receivables. 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 standard was adopted on February 1, 2020 and was applied using the prospective transition approach. The adoption of this standard did not have a material impact on the Company's consolidated financial statements. Accounting Guidance Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04 , Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU No. 2020-04”), which provides temporary optional expedients and exceptions to accounting guidance on contract modifications and hedge accounting to ease entities’ financial reporting burdens as the market transitions from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. ASU 2020-04 is effective upon issuance and can be applied through December 31, 2022. The Company is currently evaluating its contracts and hedging relationships that reference LIBOR to determine if the Company will adopt the new guidance.

EARNINGS PER SHARE (Notes)

EARNINGS PER SHARE (Notes)	6 Months Ended
	Jul. 31, 2020
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, 2020 2019 2020 2019 (in thousands, except per share data) Numerator: Net income $ 6,400 $ 5,511 $ 8,662 $ 5,066 Allocation to participating securities (101) (82) (129) (76) Net income attributable to Titan Machinery Inc. common stockholders $ 6,299 $ 5,429 $ 8,533 $ 4,990 Denominator: Basic weighted-average common shares outstanding 22,118 21,960 22,068 21,917 Plus: incremental shares from vesting of restricted stock units 1 4 — 5 Diluted weighted-average common shares outstanding 22,119 21,964 22,068 21,922 Earnings Per Share: Basic $ 0.28 $ 0.25 $ 0.39 $ 0.23 Diluted $ 0.28 $ 0.25 $ 0.39 $ 0.23 Anti-dilutive shares excluded from diluted weighted-average common shares outstanding: Restricted stock units — — 18 —

REVENUE (Notes)

REVENUE (Notes)	6 Months Ended
	Jul. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	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, 2020 Three Months Ended July 31, 2019 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 110,601 $ 48,478 $ 43,575 $ 202,654 $ 111,212 $ 51,396 $ 51,827 $ 214,435 Parts 37,470 13,016 10,968 61,454 35,054 13,066 11,082 59,202 Service 19,429 6,806 1,751 27,986 18,000 6,968 1,864 26,832 Other 829 725 119 1,673 793 820 130 1,743 Revenue from contracts with customers 168,329 69,025 56,413 293,767 165,059 72,250 64,903 302,212 Rental 743 8,694 261 9,698 633 11,789 347 12,769 Total revenues $ 169,072 $ 77,719 $ 56,674 $ 303,465 $ 165,692 $ 84,039 $ 65,250 $ 314,981 Six Months Ended July 31, 2020 Six Months Ended July 31, 2019 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 250,349 $ 82,732 $ 88,078 $ 421,159 $ 219,075 $ 94,442 $ 94,873 $ 408,390 Parts 72,550 24,476 21,042 118,068 65,029 25,770 20,341 111,140 Service 37,150 13,017 3,419 53,586 32,984 13,489 3,189 49,662 Other 1,562 1,243 223 3,028 1,412 1,413 152 2,977 Revenue from contracts with customers 361,611 121,468 112,762 595,841 318,500 135,114 118,555 572,169 Rental 1,089 16,365 378 17,832 964 19,668 470 21,102 Total revenues $ 362,700 $ 137,833 $ 113,140 $ 613,673 $ 319,464 $ 154,782 $ 119,025 $ 593,271 Unbilled Receivables and Deferred Revenue Unbilled receivables amounted to $17.3 million and $13.9 million as of July 31, 2020 and January 31, 2020. 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 $21.7 million and $39.5 million as of July 31, 2020 and January 31, 2020. 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, 2020 and 2019, the Company recognized $37.0 million and $41.2 million, respectively, of revenue that was included in the deferred revenue balance as of January 31, 2020 and January 31, 2019, respectively. No material amount of revenue was recognized during the three months ended July 31, 2020 and 2019 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. July 31, 2020 January 31, 2020 (in thousands) Deferred revenue from contracts with customers $ 21,686 $ 39,512 Deferred revenue from rental and other contracts 1,030 1,456 $ 22,716 $ 40,968

RECEIVABLES (Notes)

RECEIVABLES (Notes)	6 Months Ended
	Jul. 31, 2020
Receivables [Abstract]
Financing Receivables [Text Block]	NOTE 4 - RECEIVABLES The Company provides an allowance for expected credit losses on its nonrental receivables in accordance with the guidance in ASU 2016-13. To measure the expected credit losses, receivables have been grouped based on shared credit risk characteristics as shown in the table below. Trade and unbilled receivables from contracts with customers have credit risk and the allowance is determined by applying expected credit loss percentages to aging categories based on historical experience that are updated each quarter. The rates may also be adjusted to the extent future events are expected to differ from historical results. Given that the credit terms for these receivables are short-term, changes in credit loss percentages due to future events may not occur on a frequent basis. In addition, the allowance is adjusted based on information obtained by continued monitoring of individual customer credit. Trade receivables from finance companies, other receivables due from manufacturers, and other receivables have not historically resulted in any credit losses to the Company. These receivables are short-term in nature and deemed to be of good credit quality and have no need for any allowance for expected credit losses. Management continually monitors these receivables and should information be obtained that identifies potential credit risk, an adjustment to the allowance would be made if deemed appropriate. Trade and unbilled receivables from rental contracts are primarily in the US and are specifically excluded from the guidance in ASU 2016-13 in determining an allowance for expected losses. The Company does provide an allowance for these receivables based on historical experience and using credit information obtained from continued monitoring of customer accounts. July 31, 2020 January 31, 2020 (in thousands) Trade and unbilled receivables from contracts with customers Trade receivables due from customers $ 35,691 $ 36,400 Unbilled receivables 17,280 13,944 Less allowance for expected credit loss 3,293 2,943 49,678 47,401 Trade receivables due from finance companies 11,813 12,352 Trade and unbilled receivables from rental contracts Trade receivables 5,578 7,381 Unbilled receivables 875 861 Less allowance for expected credit loss 1,979 2,180 4,474 6,062 Other receivables Due from manufacturers 8,819 5,763 Other 998 1,198 9,817 6,961 Receivables, net of allowance for expected credit losses $ 75,782 $ 72,776 Following is a summary of allowance for credit losses on trade and unbilled accounts receivable: Agriculture Construction International Total Balance at February 1, 2020 $ 181 $ 1,016 $ 1,746 $ 2,943 Current Expected Credit Loss Provision 14 113 226 353 Write-offs Charged Against Allowance 5 71 133 209 Credit Loss Recoveries Collected 40 4 6 50 F/X Impact — — (29) (29) Balance at April 30, 2020 230 1,062 1,816 3,108 Current Expected Credit Loss Provision 16 95 265 376 Write-offs Charged Against Allowance 47 78 98 223 Credit Loss Recoveries Collected 9 — — 9 F/X Impact — — 23 23 Balance at July 31, 2020 $ 208 $ 1,079 $ 2,006 $ 3,293 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, 2020 2019 2020 2019 (in thousands) Impairment losses on: Receivables from sales contracts $ 377 $ 658 $ 520 $ 986 Receivables from rental contracts 13 414 151 497 $ 390 $ 1,072 $ 671 $ 1,483

INVENTORIES

INVENTORIES	6 Months Ended
	Jul. 31, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES July 31, 2020 January 31, 2020 (in thousands) New equipment $ 334,457 $ 358,339 Used equipment 148,239 157,535 Parts and attachments 86,301 79,813 Work in process 1,683 1,707 $ 570,680 $ 597,394

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT July 31, 2020 January 31, 2020 (in thousands) Rental fleet equipment $ 101,856 $ 104,133 Machinery and equipment 23,346 22,682 Vehicles 53,048 51,850 Furniture and fixtures 42,468 41,720 Land, buildings, and leasehold improvements 76,861 70,408 297,579 290,793 Less accumulated depreciation 147,083 145,231 $ 150,496 $ 145,562 The Company reviews its long-lived assets for potential impairment whenever events or circumstances indicate that the carrying value of the long-lived asset (or asset group) may not be recoverable. During the three months ended July 31, 2020, the Company determined that a current period operating loss combined with historical losses of a certain store location indicated that the long-lived asset group of a store location may not be recoverable. The Company performed an impairment assessment of this asset group and as a result determined an impairment charge was not needed for the three months ended July 31, 2020. For the six months ended July 31, 2020, the Company recognized total impairment charges of $0.2 million within its Construction segment. For the three and six months ended July 31, 2019, the Company recognized an impairment charge of $0.1 million within its Construction segment.

LINES OF CREDIT _ FLOORPLAN PAY

LINES OF CREDIT / FLOORPLAN PAYABLE	6 Months Ended
	Jul. 31, 2020
Line of Credit Facility [Abstract]
LINES OF CREDIT / FLOORPLAN PAYABLE	LINES OF CREDIT On April 3, 2020, the Company entered into a Third Amended and Restated Credit Agreement (the "Bank Syndicate Agreement") with a group of banks, that amended and restated the Company's prior $200.0 million credit facility, dated October 28, 2015. The Bank Syndicate Agreement provides for a secured credit facility in an amount up to $250.0 million, consisting of a $185.0 million floorplan facility (the "Floorplan Loan") and a $65.0 million operating line (the "Revolver Loan"), and changed the interest rates as compared to the prior credit facility, amongst other things. The amounts available under the Bank Syndicate Agreement are subject to base calculations and reduced by outstanding standby letters of credit and certain reserves. The Bank Syndicate Agreement has a variable interest rate on outstanding balances, has a 0.25% non-usage fee on the average monthly unused amount (replacing the previous non-usage fee of 0.25% to 0.375%), and requires monthly payments of accrued interest. The Company elects at the time of any advance to choose a Base Rate Loan or a LIBOR Rate Loan. The LIBOR Rate is based upon one month, two month, or three month LIBOR, as chosen by the Company, but in no event shall the LIBOR Rate be less than 0.50%. The Base Rate is the greater of (a) the prime rate of interest announced, from time to time, by Bank of America; (b) the Federal Funds Rate plus 0.5%, or (c) one month LIBOR plus 1%, but in no event shall the Base Rate be less than zero. The applicable margin rate is determined based on excess availability under the Bank Syndicate Agreement and ranges from 0.5% to 1.0% for Base Rate Loans and 1.5% to 2.0% for LIBOR Rate Loans. The new applicable margins under the Bank Syndicate Agreement are up to 0.5% less than the existing margins under the prior credit facility. The Bank Syndicate Agreement does not obligate the Company to maintain financial covenants, except in the event that excess availability (each as defined in the Bank Syndicate Agreement) is less than 15% of the lower of the borrowing base or the size of the maximum credit line, at which point the Company is required to maintain a fixed charge coverage ratio of at least 1.10:1.00. The Bank Syndicate Agreement includes various restrictions on the Company and its subsidiaries’ activities, including, under certain conditions, limitations on the Company’s ability to make certain cash payments including cash dividends and stock repurchases, issuance of equity instruments, acquisitions and divestitures, and entering into new indebtedness transactions. The Bank Syndicate Agreement matures on April 3, 2025. The Floorplan Loan under the Bank Syndicate Agreement e is used to finance equipment inventory purchases. Amounts outstanding are recorded as floorplan payable, within current liabilities on the consolidated balance sheets, as the Company intends to repay amounts borrowed within one year. The Revolver Loan under the Bank Syndicate Agreement is used to finance rental fleet equipment and for general working capital requirements of the Company. Amounts outstanding are recorded as long-term debt, within long-term liabilities on the consolidated balance sheets, as the Company does not have the intention or obligation to repay amounts borrowed within one year. As of July 31, 2020, the Company had floorplan lines of credit totaling $763.0 million, which is primarily comprised of three significant floorplan lines of credit: (i) a $450.0 million credit facility with CNH Industrial, (ii) a $185.0 million line of credit under the Bank Syndicate Agreement, and (iii) a $60.0 million credit facility with DLL Finance LLC. As of July 31, 2020 and January 31, 2020, the Company's outstanding balances of floorplan lines of credit consisted of the following: July 31, 2020 January 31, 2020 (in thousands) CNH Industrial $ 151,790 $ 187,690 Bank Syndicate Agreement Floorplan Loan 98,400 — Wells Fargo Floorplan Payable Line — 82,700 DLL Finance 25,064 30,657 Other outstanding balances with manufacturers and non-manufacturers 76,961 70,725 $ 352,215 $ 371,772

DEFERRED REVENUE (Notes)

DEFERRED REVENUE (Notes)	6 Months Ended
	Jul. 31, 2020
Contract with Customer, Liability [Abstract]
Deferred Revenue	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, 2020 Three Months Ended July 31, 2019 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 110,601 $ 48,478 $ 43,575 $ 202,654 $ 111,212 $ 51,396 $ 51,827 $ 214,435 Parts 37,470 13,016 10,968 61,454 35,054 13,066 11,082 59,202 Service 19,429 6,806 1,751 27,986 18,000 6,968 1,864 26,832 Other 829 725 119 1,673 793 820 130 1,743 Revenue from contracts with customers 168,329 69,025 56,413 293,767 165,059 72,250 64,903 302,212 Rental 743 8,694 261 9,698 633 11,789 347 12,769 Total revenues $ 169,072 $ 77,719 $ 56,674 $ 303,465 $ 165,692 $ 84,039 $ 65,250 $ 314,981 Six Months Ended July 31, 2020 Six Months Ended July 31, 2019 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 250,349 $ 82,732 $ 88,078 $ 421,159 $ 219,075 $ 94,442 $ 94,873 $ 408,390 Parts 72,550 24,476 21,042 118,068 65,029 25,770 20,341 111,140 Service 37,150 13,017 3,419 53,586 32,984 13,489 3,189 49,662 Other 1,562 1,243 223 3,028 1,412 1,413 152 2,977 Revenue from contracts with customers 361,611 121,468 112,762 595,841 318,500 135,114 118,555 572,169 Rental 1,089 16,365 378 17,832 964 19,668 470 21,102 Total revenues $ 362,700 $ 137,833 $ 113,140 $ 613,673 $ 319,464 $ 154,782 $ 119,025 $ 593,271 Unbilled Receivables and Deferred Revenue Unbilled receivables amounted to $17.3 million and $13.9 million as of July 31, 2020 and January 31, 2020. 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 $21.7 million and $39.5 million as of July 31, 2020 and January 31, 2020. 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, 2020 and 2019, the Company recognized $37.0 million and $41.2 million, respectively, of revenue that was included in the deferred revenue balance as of January 31, 2020 and January 31, 2019, respectively. No material amount of revenue was recognized during the three months ended July 31, 2020 and 2019 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. July 31, 2020 January 31, 2020 (in thousands) Deferred revenue from contracts with customers $ 21,686 $ 39,512 Deferred revenue from rental and other contracts 1,030 1,456 $ 22,716 $ 40,968

SENIOR CONVERTIBLE NOTES

SENIOR CONVERTIBLE NOTES	6 Months Ended
	Jul. 31, 2020
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, as such there was no interest expense for the three months ended July 31, 2019. The Company recognized interest expense associated with its senior convertible notes as follows: Six Months Ended July 31, 2020 2019 (in thousands) Cash Interest Expense Coupon interest expense $ — $ 421 Noncash Interest Expense Amortization of debt discount — 350 Amortization of transaction costs — 45 $ — $ 816

LONG TERM DEBT (Notes)

LONG TERM DEBT (Notes)	6 Months Ended
	Jul. 31, 2020
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	LONG TERM DEBT The following is a summary of long-term debt as of July 31, 2020 and January 31, 2020: July 31, 2020 January 31, 2020 (in thousands) Sale-leaseback financing obligations, interest rates ranging from 3.4% to 10.3% with various maturity dates through December 2030 $ 17,153 $ 17,781 Bank Syndicate Agreement - Working Capital Line, interest accrues at a variable rate on outstanding balances, requires monthly payments of accrued interest, matures April 2025 10,000 10,000 Real estate mortgage bearing interest at 5.11%, payable in annual installments of $0.3 million, maturing on May 15, 2039, secured by real estate assets 6,485 6,827 Equipment financing loan, payable in monthly installments over a 72-month term for each funded tranche, interest rates ranging from 1.7% to 3.89%, secured by vehicle assets 7,446 7,468 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 4,315 4,416 Real estate mortgage interest accrues at a variable rate of 2.5% plus 1-month LIBOR, requires monthly payments of accrued interest, final payment at maturity of $2.0 million, maturing on February 28, 2027, secured by real estate assets 1,964 — Real estate mortgage bearing interest at 4.4%, payable in monthly installments of $0.01 million with a final payment at maturity of $1.0 million, maturing on January 1, 2027, secured by real estate assets 1,458 1,489 Equipment financing loan, payable in monthly installments over a 72-month term, bearing interest at 3.94%, secured by vehicle assets 1,025 — Real estate mortgage bearing interest at 2.09%, payable in monthly installments, maturing on June 30, 2026, secured by real estate assets 2,339 2,520 Other long-term debt primarily bearing interest at three-month EURIBOR plus 2.6%, payable in quarterly installments, maturing on January 31, 2021 401 1,067 52,586 51,568 Less current maturities (3,921) (13,779) $ 48,665 $ 37,789

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Jul. 31, 2020
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. No foreign currency contracts were outstanding as of January 31, 2020. The notional value of outstanding foreign currency contracts as of July 31, 2020 was $11.0 million. As of July 31, 2020, 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 Company’s derivative instruments for the three and six months ended July 31, 2020 and 2019. 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, 2020 2019 2020 2019 (in thousands) Foreign currency contract gain $ 202 $ 166 $ 189 $ 368

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)	6 Months Ended
	Jul. 31, 2020
Accumulated Other Comprehensive Income [Abstract]
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, 2020 and July 31, 2019: Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2020 $ (5,931) $ 2,711 $ (3,220) Other comprehensive loss (528) — (528) Balance, April 30, 2020 (6,459) 2,711 (3,748) Other comprehensive income 778 — 778 Balance, July 31, 2020 $ (5,681) $ 2,711 $ (2,970) 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)

LEASES (Notes)

LEASES (Notes)	6 Months Ended
	Jul. 31, 2020
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. The Company estimates its incremental borrowing rate by incorporating considerations of lease term, asset class and lease currency and geographical market. The Company's 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 it has ceased operations. All sublease arrangements are classified as operating leases. The components of lease expense were as follows: Three Months Ended July 31, Six Months Ended July 31, Classification 2020 2019 2020 2019 (in thousands) (in thousands) Finance lease cost: Amortization of leased assets Operating expenses $ 389 $ 331 $ 781 $ 707 Interest on lease liabilities Other interest expense 117 139 242 278 Operating lease cost Operating expenses & rental and other cost of revenue 4,325 4,725 8,788 9,541 Short-term lease cost Operating expenses 110 80 190 160 Variable lease cost Operating expenses 735 715 1,370 1,335 Sublease income Interest income and other income (expense) (131) (154) (283) (321) $ 5,545 $ 5,836 $ 11,088 $ 11,700 Right-of-use lease assets and lease liabilities consist of the following: Classification July 31, 2020 January 31, 2020 (in thousands) Assets Operating lease assets Operating lease assets $ 83,586 $ 88,281 Finance lease assets (a) Property and equipment, net of accumulated depreciation 8,027 6,297 Total leased assets $ 91,613 $ 94,578 Liabilities Current Operating Current operating lease liabilities $ 12,158 $ 12,259 Finance Accrued expenses and other 4,038 1,708 Noncurrent Operating Operating lease liabilities 83,341 88,387 Finance Other long-term liabilities 3,398 4,103 Total lease liabilities $ 102,935 $ 106,457 (a) Finance lease assets are recorded net of accumulated amortization of $2.2 million as of July 31, 2020 and $1.5 million as of January 31, 2020. Maturities of lease liabilities as of July 31, 2020 are as follows: Operating Finance Leases Leases Total Fiscal Year Ended January 31, (in thousands) 2021 (remainder) $ 8,852 $ 3,404 $ 12,256 2022 17,004 1,873 18,877 2023 16,028 1,226 17,254 2024 15,097 493 15,590 2025 13,961 402 14,363 2026 13,804 311 14,115 Thereafter 34,698 1,084 35,782 Total lease payments 119,444 8,793 128,237 Less: Interest 23,945 1,357 25,302 Present value of lease liabilities $ 95,499 $ 7,436 $ 102,935 The weighted-average lease term and discount rate as of July 31, 2020 are as follows: July 31, 2020 Weighted-average remaining lease term (years): Operating leases 7.6 Financing leases 5.1 Weighted-average discount rate: Operating leases 6.1 % Financing leases 9.7 % 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, 2020 and January 31, 2020: July 31, 2020 January 31, 2020 (in thousands) Rental fleet equipment $ 101,856 $ 104,133 Less accumulated depreciation 38,123 42,076 $ 63,733 $ 62,057

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jul. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS As of July 31, 2020 and January 31, 2020, 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, which is 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 April 30, 2020 and January 31, 2020 as part of its long-lived asset impairment testing. The estimated fair value of such assets as of April 30, 2020 and January 31, 2020 was $0.4 million and $2.8 million, respectively. 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. In addition, in certain instances the Company estimated the fair value of long-lived assets to approximate zero as no future cash flows were assumed to be generated from the use of such assets and the expected value to be realized upon disposition was deemed to be nominal.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jul. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES        Our effective tax rate was 22.8% and 25.8% for the three months ended July 31, 2020 and July 31, 2019 and was 24.3% and 26.7% for the six months ended July 31, 2020 and July 31, 2019. Our effective tax rate differs from the domestic federal statutory tax rate due to the impact of state taxes, the mix of domestic and foreign income or losses, the impact of the recognition of valuation allowance on our foreign deferred tax assets, including net operating losses, the impact of foreign currency fluctuations on our Ukrainian business and discrete events that take place throughout the year, primarily the tax impact of share based payments

BUSINESS COMBINATIONS (Notes)

BUSINESS COMBINATIONS (Notes)	6 Months Ended
	Jul. 31, 2020
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	BUSINESS COMBINATIONS Fiscal 2021 On May 4, 2020, the Company acquired certain assets of HorizonWest Inc. This acquired CaseIH agriculture dealership complex consisted of three agriculture equipment stores in Scottsbluff and Sidney, Nebraska and Torrington, Wyoming, which expands the Company's agriculture presence in Nebraska and into Wyoming. The total consideration transferred for the acquired business was $6.8 million paid in cash. In connection with the acquisition, the Company acquired from CNH Industrial and certain other manufacturers equipment and parts inventory previously owned by HorizonWest Inc. Upon acquiring such inventories, the Company was offered floorplan financing by the manufacturer. In total, the Company acquired inventory and recognized a corresponding financing liability of $2.7 million. The recognition of these inventories and the associated financing liabilities are not included as part of the accounting for the business combination. 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 expanded our presence in the German market. The total consideration transferred for the acquired business was $3.0 million paid in cash. This acquisition was recognized in the fiscal year ended January 31, 2020 as the acquisition occurred within our International segment in which all entities maintain a calendar year reporting period. On October 1, 2019, the Company acquired certain assets of Uglem-Ness Co. The acquired business consists of one Case IH agriculture equipment store in Northwood, North Dakota. The service area is contiguous to the Company's existing locations in Grand Forks and Casselton, North Dakota and Ada, Minnesota. The total consideration transferred for the acquired business was $10.9 million paid in cash, including the real estate. The real estate was acquired in January 2020 for $2.1 million. In connection with the acquisition, the Company acquired from CNH Industrial and certain other manufacturers equipment and parts inventory previously owned by Uglem-Ness Co. Upon acquiring such inventories, the Company was offered floorplan financing by the manufacturer. In total, the Company acquired inventory and recognized a corresponding financing liability of $7.4 million. The recognition of these inventories and the associated financing liabilities are not included as part of the accounting for the business combination. Purchase Price Allocation Each of the above acquisitions 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 accounting for all business combinations was complete as of July 31, 2020. The following table presents the aggregate purchase price allocations for all acquisitions completed during the six months ended July 31, 2020 and twelve months ended January 31, 2020: July 31, 2020 January 31, 2020 (in thousands) Assets acquired: Cash $ 1 $ — Receivables — 440 Inventories 4,260 6,466 Prepaid expenses and other 48 — Property and equipment 1,752 3,810 Operating lease assets 2,006 — Intangible assets 245 1,973 Goodwill 484 1,198 8,796 13,887 Liabilities assumed: Current operating lease liabilities 159 — Operating lease liabilities 1,847 — 2,006 — Net assets acquired $ 6,790 $ 13,887 Goodwill recognized by segment: Agriculture $ 484 $ 699 Construction — — International — 499 Goodwill expected to be deductible for tax purposes $ 484 $ 1,198 The recognition of goodwill in the above business combinations arose from the acquisition of an assembled workforce and anticipated synergies expected to be realized. For the business combinations occurring during the twelve months ended January 31, 2020, the Company recognized a customer relationship intangible asset of $0.2 million, a non-competition intangible asset of $0.1 million, and a distribution rights intangible asset of $1.6 million. For the business combinations occurring during the six months ended July 31, 2020, the Company recognized a non-competition intangible asset of $0.1 million, and a distribution rights intangible asset of $0.2 million. The customer relationship and non-competition assets will be amortized over periods ranging from three to five years. The distribution rights assets are indefinite-lived intangible assets not subject to amortization. The Company estimated the fair value of the intangible assets using a multi-period excess earnings model, which is an income approach. Acquisition related costs were not material for the six months ended July 31, 2020 and twelve months ended January 31, 2020, and have been expensed as incurred and recognized as operating expenses in the consolidated statements of operations.

CONTINGENCIES (Notes)

CONTINGENCIES (Notes)	6 Months Ended
	Jul. 31, 2020
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, 2020
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. Three Months Ended July 31, Six Months Ended July 31, 2020 2019 2020 2019 (in thousands) (in thousands) Revenue Agriculture $ 169,072 $ 165,692 $ 362,700 $ 319,464 Construction 77,719 84,039 137,833 154,782 International 56,674 65,250 113,140 119,025 Total $ 303,465 $ 314,981 $ 613,673 $ 593,271 Income (Loss) Before Income Taxes Agriculture $ 6,752 $ 6,177 $ 12,914 $ 8,053 Construction 1,375 1,334 (1,498) (888) International (432) 505 (711) 722 Segment income before income taxes 7,695 8,016 10,705 7,887 Shared Resources 597 (589) 736 (975) Total $ 8,292 $ 7,427 $ 11,441 $ 6,912 July 31, 2020 January 31, 2020 (in thousands) Total Assets Agriculture $ 436,826 $ 444,942 Construction 248,390 275,645 International 201,031 191,513 Segment assets 886,247 912,100 Shared Resources 61,778 63,243 Total $ 948,025 $ 975,343

BUSINESS ACTIVITY AND SIGNIFI_2

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jul. 31, 2020
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, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2021. The information contained in the consolidated balance sheet as of January 31, 2020 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, 2020 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.
New Accounting Pronouncements	Recently Adopted Accounting Guidance In June 2016, the Financial Accounting Standards Board ("FASB") issued a new standard, codified in ASC 326, that modifies how entities measure credit losses on most financial instruments. The new standard replaced the "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 guidance impacts the Company on its accounts receivable portfolio but specifically excluded receivables from operating lease arrangements and, therefore, the Company’s receivables from rental contracts were not impacted. The guidance also requires new disclosures to allow the users of the financial statements to understand the credit risk inherent in a portfolio and how management monitors the credit quality of the portfolio, management’s estimate of expected credit losses, and changes in the estimate of expected credit losses that have taken place during the reporting period. The Company adopted the new guidance on February 1, 2020 using a modified retrospective approach and recognized an immaterial cumulative-effect adjustment to retained earnings as of the effective date. The Company identified and updated existing internal controls and procedures to ensure compliance with the new guidance, but such modifications were not deemed to be material to the Company's overall system of internal control. While the adoption of this standard did not have a material impact on the Company's consolidated financial statements, it required changes to the Company's process of estimating expected credit losses on trade receivables. See footnote 4 for further discussion of our accounts receivables. 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 standard was adopted on February 1, 2020 and was applied using the prospective transition approach. The adoption of this standard did not have a material impact on the Company's consolidated financial statements.
Description of New Accounting Pronouncements Not yet Adopted	Accounting Guidance Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04 , Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU No. 2020-04”), which provides temporary optional expedients and exceptions to accounting guidance on contract modifications and hedge accounting to ease entities’ financial reporting burdens as the market transitions from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. ASU 2020-04 is effective upon issuance and can be applied through December 31, 2022. The Company is currently evaluating its contracts and hedging relationships that reference LIBOR to determine if the Company will adopt the new guidance.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jul. 31, 2020
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, 2020 2019 2020 2019 (in thousands, except per share data) Numerator: Net income $ 6,400 $ 5,511 $ 8,662 $ 5,066 Allocation to participating securities (101) (82) (129) (76) Net income attributable to Titan Machinery Inc. common stockholders $ 6,299 $ 5,429 $ 8,533 $ 4,990 Denominator: Basic weighted-average common shares outstanding 22,118 21,960 22,068 21,917 Plus: incremental shares from vesting of restricted stock units 1 4 — 5 Diluted weighted-average common shares outstanding 22,119 21,964 22,068 21,922 Earnings Per Share: Basic $ 0.28 $ 0.25 $ 0.39 $ 0.23 Diluted $ 0.28 $ 0.25 $ 0.39 $ 0.23 Anti-dilutive shares excluded from diluted weighted-average common shares outstanding: Restricted stock units — — 18 —

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jul. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following tables present our revenue disaggregated by revenue source and segment: Three Months Ended July 31, 2020 Three Months Ended July 31, 2019 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 110,601 $ 48,478 $ 43,575 $ 202,654 $ 111,212 $ 51,396 $ 51,827 $ 214,435 Parts 37,470 13,016 10,968 61,454 35,054 13,066 11,082 59,202 Service 19,429 6,806 1,751 27,986 18,000 6,968 1,864 26,832 Other 829 725 119 1,673 793 820 130 1,743 Revenue from contracts with customers 168,329 69,025 56,413 293,767 165,059 72,250 64,903 302,212 Rental 743 8,694 261 9,698 633 11,789 347 12,769 Total revenues $ 169,072 $ 77,719 $ 56,674 $ 303,465 $ 165,692 $ 84,039 $ 65,250 $ 314,981 Six Months Ended July 31, 2020 Six Months Ended July 31, 2019 Agriculture Construction International Total Agriculture Construction International Total (in thousands) (in thousands) Equipment $ 250,349 $ 82,732 $ 88,078 $ 421,159 $ 219,075 $ 94,442 $ 94,873 $ 408,390 Parts 72,550 24,476 21,042 118,068 65,029 25,770 20,341 111,140 Service 37,150 13,017 3,419 53,586 32,984 13,489 3,189 49,662 Other 1,562 1,243 223 3,028 1,412 1,413 152 2,977 Revenue from contracts with customers 361,611 121,468 112,762 595,841 318,500 135,114 118,555 572,169 Rental 1,089 16,365 378 17,832 964 19,668 470 21,102 Total revenues $ 362,700 $ 137,833 $ 113,140 $ 613,673 $ 319,464 $ 154,782 $ 119,025 $ 593,271

RECEIVABLES (Tables)

RECEIVABLES (Tables)	6 Months Ended
	Jul. 31, 2020
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	July 31, 2020 January 31, 2020 (in thousands) Trade and unbilled receivables from contracts with customers Trade receivables due from customers $ 35,691 $ 36,400 Unbilled receivables 17,280 13,944 Less allowance for expected credit loss 3,293 2,943 49,678 47,401 Trade receivables due from finance companies 11,813 12,352 Trade and unbilled receivables from rental contracts Trade receivables 5,578 7,381 Unbilled receivables 875 861 Less allowance for expected credit loss 1,979 2,180 4,474 6,062 Other receivables Due from manufacturers 8,819 5,763 Other 998 1,198 9,817 6,961 Receivables, net of allowance for expected credit losses $ 75,782 $ 72,776
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, 2020 2019 2020 2019 (in thousands) Impairment losses on: Receivables from sales contracts $ 377 $ 658 $ 520 $ 986 Receivables from rental contracts 13 414 151 497 $ 390 $ 1,072 $ 671 $ 1,483
Accounts Receivable, Allowance for Credit Loss	Following is a summary of allowance for credit losses on trade and unbilled accounts receivable: Agriculture Construction International Total Balance at February 1, 2020 $ 181 $ 1,016 $ 1,746 $ 2,943 Current Expected Credit Loss Provision 14 113 226 353 Write-offs Charged Against Allowance 5 71 133 209 Credit Loss Recoveries Collected 40 4 6 50 F/X Impact — — (29) (29) Balance at April 30, 2020 230 1,062 1,816 3,108 Current Expected Credit Loss Provision 16 95 265 376 Write-offs Charged Against Allowance 47 78 98 223 Credit Loss Recoveries Collected 9 — — 9 F/X Impact — — 23 23 Balance at July 31, 2020 $ 208 $ 1,079 $ 2,006 $ 3,293

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jul. 31, 2020
Inventory Disclosure [Abstract]
Schedule of inventories	July 31, 2020 January 31, 2020 (in thousands) New equipment $ 334,457 $ 358,339 Used equipment 148,239 157,535 Parts and attachments 86,301 79,813 Work in process 1,683 1,707 $ 570,680 $ 597,394

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	PROPERTY AND EQUIPMENT July 31, 2020 January 31, 2020 (in thousands) Rental fleet equipment $ 101,856 $ 104,133 Machinery and equipment 23,346 22,682 Vehicles 53,048 51,850 Furniture and fixtures 42,468 41,720 Land, buildings, and leasehold improvements 76,861 70,408 297,579 290,793 Less accumulated depreciation 147,083 145,231 $ 150,496 $ 145,562

LINES OF CREDIT _ FLOORPLAN P_2

LINES OF CREDIT / FLOORPLAN PAYABLE Summary of Outstanding Amounts (Tables)	6 Months Ended
	Jul. 31, 2020
Line of Credit Facility [Abstract]
Schedule of Line of Credit Facilities [Table Text Block]	July 31, 2020 January 31, 2020 (in thousands) CNH Industrial $ 151,790 $ 187,690 Bank Syndicate Agreement Floorplan Loan 98,400 — Wells Fargo Floorplan Payable Line — 82,700 DLL Finance 25,064 30,657 Other outstanding balances with manufacturers and non-manufacturers 76,961 70,725 $ 352,215 $ 371,772

DEFERRED REVENUE (Tables)

DEFERRED REVENUE (Tables)	6 Months Ended
	Jul. 31, 2020
Contract with Customer, Liability [Abstract]
Contract with Customer Liability [Table Text Block]	July 31, 2020 January 31, 2020 (in thousands) Deferred revenue from contracts with customers $ 21,686 $ 39,512 Deferred revenue from rental and other contracts 1,030 1,456 $ 22,716 $ 40,968

SENIOR CONVERTIBLE NOTES (Table

SENIOR CONVERTIBLE NOTES (Tables)	6 Months Ended
	Jul. 31, 2020
SENIOR CONVERTIBLE NOTES
Senior Convertible Notes Interest Expense	The Company recognized interest expense associated with its senior convertible notes as follows: Six Months Ended July 31, 2020 2019 (in thousands) Cash Interest Expense Coupon interest expense $ — $ 421 Noncash Interest Expense Amortization of debt discount — 350 Amortization of transaction costs — 45 $ — $ 816

LONG TERM DEBT (Tables)

LONG TERM DEBT (Tables)	6 Months Ended
	Jul. 31, 2020
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, 2020 and January 31, 2020: July 31, 2020 January 31, 2020 (in thousands) Sale-leaseback financing obligations, interest rates ranging from 3.4% to 10.3% with various maturity dates through December 2030 $ 17,153 $ 17,781 Bank Syndicate Agreement - Working Capital Line, interest accrues at a variable rate on outstanding balances, requires monthly payments of accrued interest, matures April 2025 10,000 10,000 Real estate mortgage bearing interest at 5.11%, payable in annual installments of $0.3 million, maturing on May 15, 2039, secured by real estate assets 6,485 6,827 Equipment financing loan, payable in monthly installments over a 72-month term for each funded tranche, interest rates ranging from 1.7% to 3.89%, secured by vehicle assets 7,446 7,468 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 4,315 4,416 Real estate mortgage interest accrues at a variable rate of 2.5% plus 1-month LIBOR, requires monthly payments of accrued interest, final payment at maturity of $2.0 million, maturing on February 28, 2027, secured by real estate assets 1,964 — Real estate mortgage bearing interest at 4.4%, payable in monthly installments of $0.01 million with a final payment at maturity of $1.0 million, maturing on January 1, 2027, secured by real estate assets 1,458 1,489 Equipment financing loan, payable in monthly installments over a 72-month term, bearing interest at 3.94%, secured by vehicle assets 1,025 — Real estate mortgage bearing interest at 2.09%, payable in monthly installments, maturing on June 30, 2026, secured by real estate assets 2,339 2,520 Other long-term debt primarily bearing interest at three-month EURIBOR plus 2.6%, payable in quarterly installments, maturing on January 31, 2021 401 1,067 52,586 51,568 Less current maturities (3,921) (13,779) $ 48,665 $ 37,789

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jul. 31, 2020
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 Company’s derivative instruments for the three and six months ended July 31, 2020 and 2019. 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, 2020 2019 2020 2019 (in thousands) Foreign currency contract gain $ 202 $ 166 $ 189 $ 368

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME AOCI (Tables)	6 Months Ended
	Jul. 31, 2020
Accumulated Other Comprehensive Income [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, 2020 and July 31, 2019: Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2020 $ (5,931) $ 2,711 $ (3,220) Other comprehensive loss (528) — (528) Balance, April 30, 2020 (6,459) 2,711 (3,748) Other comprehensive income 778 — 778 Balance, July 31, 2020 $ (5,681) $ 2,711 $ (2,970) 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)

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jul. 31, 2020
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense were as follows: Three Months Ended July 31, Six Months Ended July 31, Classification 2020 2019 2020 2019 (in thousands) (in thousands) Finance lease cost: Amortization of leased assets Operating expenses $ 389 $ 331 $ 781 $ 707 Interest on lease liabilities Other interest expense 117 139 242 278 Operating lease cost Operating expenses & rental and other cost of revenue 4,325 4,725 8,788 9,541 Short-term lease cost Operating expenses 110 80 190 160 Variable lease cost Operating expenses 735 715 1,370 1,335 Sublease income Interest income and other income (expense) (131) (154) (283) (321) $ 5,545 $ 5,836 $ 11,088 $ 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, 2020 January 31, 2020 (in thousands) Assets Operating lease assets Operating lease assets $ 83,586 $ 88,281 Finance lease assets (a) Property and equipment, net of accumulated depreciation 8,027 6,297 Total leased assets $ 91,613 $ 94,578 Liabilities Current Operating Current operating lease liabilities $ 12,158 $ 12,259 Finance Accrued expenses and other 4,038 1,708 Noncurrent Operating Operating lease liabilities 83,341 88,387 Finance Other long-term liabilities 3,398 4,103 Total lease liabilities $ 102,935 $ 106,457 (a) Finance lease assets are recorded net of accumulated amortization of $2.2 million as of July 31, 2020 and $1.5 million as of January 31, 2020.
Summary of Lease Maturities [Table Text Block]	Maturities of lease liabilities as of July 31, 2020 are as follows: Operating Finance Leases Leases Total Fiscal Year Ended January 31, (in thousands) 2021 (remainder) $ 8,852 $ 3,404 $ 12,256 2022 17,004 1,873 18,877 2023 16,028 1,226 17,254 2024 15,097 493 15,590 2025 13,961 402 14,363 2026 13,804 311 14,115 Thereafter 34,698 1,084 35,782 Total lease payments 119,444 8,793 128,237 Less: Interest 23,945 1,357 25,302 Present value of lease liabilities $ 95,499 $ 7,436 $ 102,935
Weighted-Average Lease Term and Discount Rate [Table Text Block]	The weighted-average lease term and discount rate as of July 31, 2020 are as follows: July 31, 2020 Weighted-average remaining lease term (years): Operating leases 7.6 Financing leases 5.1 Weighted-average discount rate: Operating leases 6.1 % Financing leases 9.7 %
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, 2020 and January 31, 2020: July 31, 2020 January 31, 2020 (in thousands) Rental fleet equipment $ 101,856 $ 104,133 Less accumulated depreciation 38,123 42,076 $ 63,733 $ 62,057

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Jul. 31, 2020
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The following table presents the aggregate purchase price allocations for all acquisitions completed during the six months ended July 31, 2020 and twelve months ended January 31, 2020: July 31, 2020 January 31, 2020 (in thousands) Assets acquired: Cash $ 1 $ — Receivables — 440 Inventories 4,260 6,466 Prepaid expenses and other 48 — Property and equipment 1,752 3,810 Operating lease assets 2,006 — Intangible assets 245 1,973 Goodwill 484 1,198 8,796 13,887 Liabilities assumed: Current operating lease liabilities 159 — Operating lease liabilities 1,847 — 2,006 — Net assets acquired $ 6,790 $ 13,887 Goodwill recognized by segment: Agriculture $ 484 $ 699 Construction — — International — 499 Goodwill expected to be deductible for tax purposes $ 484 $ 1,198

SEGMENT INFORMATION AND OPERA_2

SEGMENT INFORMATION AND OPERATING RESULTS (Tables)	6 Months Ended
	Jul. 31, 2020
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. Three Months Ended July 31, Six Months Ended July 31, 2020 2019 2020 2019 (in thousands) (in thousands) Revenue Agriculture $ 169,072 $ 165,692 $ 362,700 $ 319,464 Construction 77,719 84,039 137,833 154,782 International 56,674 65,250 113,140 119,025 Total $ 303,465 $ 314,981 $ 613,673 $ 593,271 Income (Loss) Before Income Taxes Agriculture $ 6,752 $ 6,177 $ 12,914 $ 8,053 Construction 1,375 1,334 (1,498) (888) International (432) 505 (711) 722 Segment income before income taxes 7,695 8,016 10,705 7,887 Shared Resources 597 (589) 736 (975) Total $ 8,292 $ 7,427 $ 11,441 $ 6,912 July 31, 2020 January 31, 2020 (in thousands) Total Assets Agriculture $ 436,826 $ 444,942 Construction 248,390 275,645 International 201,031 191,513 Segment assets 886,247 912,100 Shared Resources 61,778 63,243 Total $ 948,025 $ 975,343

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended				6 Months Ended
	Jul. 31, 2020	Apr. 30, 2020	Jul. 31, 2019	Apr. 30, 2019	Jul. 31, 2020	Jul. 31, 2019
Earnings Per Share [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 6,400,000	$ 2,262,000	$ 5,511,000	$ (445,000)	$ 8,662,000	$ 5,066,000
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	101,000		82,000		129,000	76,000
Net Income (Loss) Available to Common Stockholders, Basic	$ 6,299,000		$ 5,429,000		$ 8,533,000	$ 4,990,000
Basic weighted-average common shares outstanding	22,118		21,960		22,068	21,917
Weighted Average Number Diluted Shares Outstanding Adjustment	1		4		0	5
Weighted Average Number of Shares Outstanding, Diluted	22,119		21,964		22,068	21,922
Earnings Per Share, Basic	$ 0.28		$ 0.25		$ 0.39	$ 0.23
Earnings Per Share, Diluted	$ 0.28		$ 0.25		$ 0.39	$ 0.23
Restricted Stock or Unit Expense					$ 18,000

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 303,465	$ 314,981	$ 613,673	$ 593,271
Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	293,767	302,212	595,841	572,169
Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,673	1,743	3,028	2,977
Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	27,986	26,832	53,586	49,662
Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	61,454	59,202	118,068	111,140
Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	9,698	12,769	17,832	21,102
Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	202,654	214,435	421,159	408,390
Operating Segments [Member] | Agricultural Segment [Member]
Disaggregation of Revenue [Line Items]
Revenues	169,072	165,692	362,700	319,464
Operating Segments [Member] | Agricultural Segment [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	168,329	165,059	361,611	318,500
Operating Segments [Member] | Agricultural Segment [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	829	793	1,562	1,412
Operating Segments [Member] | Agricultural Segment [Member] | Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	19,429	18,000	37,150	32,984
Operating Segments [Member] | Agricultural Segment [Member] | Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	37,470	35,054	72,550	65,029
Operating Segments [Member] | Agricultural Segment [Member] | Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	743	633	1,089	964
Operating Segments [Member] | Agricultural Segment [Member] | Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	110,601	111,212	250,349	219,075
Operating Segments [Member] | Construction [Member]
Disaggregation of Revenue [Line Items]
Revenues	77,719	84,039	137,833	154,782
Operating Segments [Member] | Construction [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	69,025	72,250	121,468	135,114
Operating Segments [Member] | Construction [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	725	820	1,243	1,413
Operating Segments [Member] | Construction [Member] | Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	6,806	6,968	13,017	13,489
Operating Segments [Member] | Construction [Member] | Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	13,016	13,066	24,476	25,770
Operating Segments [Member] | Construction [Member] | Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	8,694	11,789	16,365	19,668
Operating Segments [Member] | Construction [Member] | Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	48,478	51,396	82,732	94,442
Operating Segments [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenues	56,674	65,250	113,140	119,025
Operating Segments [Member] | International [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenues	56,413	64,903	112,762	118,555
Operating Segments [Member] | International [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	119	130	223	152
Operating Segments [Member] | International [Member] | Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,751	1,864	3,419	3,189
Operating Segments [Member] | International [Member] | Parts Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	10,968	11,082	21,042	20,341
Operating Segments [Member] | International [Member] | Rental Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenues	261	347	378	470
Operating Segments [Member] | International [Member] | Equipment Revenue [member]
Disaggregation of Revenue [Line Items]
Revenues	$ 43,575	$ 51,827	$ 88,078	$ 94,873

REVENUE Unbilled Receivables (D

REVENUE Unbilled Receivables (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jan. 31, 2020
Revenue from Contract with Customer [Abstract]
Unbilled Receivables, Current	$ 17.3	$ 13.9

REVENUE Deferred Revenue (Detai

REVENUE Deferred Revenue (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jan. 31, 2020
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$ 1,030		$ 1,456
Contract with Customer, Liability, Revenue Recognized	(37,000)	$ (41,200)
Deferred Revenue from Contracts with Customers [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$ 21,700		$ 39,500

RECEIVABLES (Details)

RECEIVABLES (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jul. 31, 2020	Apr. 30, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019	Feb. 01, 2020	Jan. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue from Contracts with Customers, Impairment Loss	$ 377		$ 658	$ 520	$ 986
Rental Contract, Impairment Loss	13		414	151	497
Accounts Receivable, Allowance for Credit Loss						$ (2,943)
Accounts Receivable, after Allowance for Credit Loss, Current	75,782			75,782			$ 72,776
Unbilled Receivables, Current	17,300			17,300			13,900
Accounts Receivable, Allowance for Credit Loss, Writeoff	223	$ 209
Accounts Receivable, Credit Loss Expense (Reversal)	376	353
Accounts Receivable, Allowance for Credit Loss, Recovery	9	50
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation	23	(29)
Impaired Financing Receivables	390		$ 1,072	671	$ 1,483
Accounting Standards Update 2016-13
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(3,293)	(3,108)		(3,293)
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	35,691			35,691			36,400
Unbilled Receivables from Operating Leases and Rental Contracts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	875			875			861
Accounts Receivable, Allowance for Credit Loss	(3,293)			(3,293)			(2,943)
Accounts Receivable, after Allowance for Credit Loss, Current	49,678			49,678			47,401
Unbilled Receivables, Current	17,280			17,280			13,944
Trade Receivables due from Finance Companies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	11,813			11,813			12,352
Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	5,578			5,578			7,381
Receivables due from Manufacturers [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	8,819			8,819			5,763
Other Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	998			998			1,198
Accounts Receivable, after Allowance for Credit Loss, Current	9,817			9,817			6,961
Trade And Unbilled Receivables From Rental Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(1,979)			(1,979)			(2,180)
Accounts Receivable, after Allowance for Credit Loss, Current	4,474			4,474			$ 6,062
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(1,079)	(1,062)		(1,079)		(1,016)
Accounts Receivable, Allowance for Credit Loss, Writeoff	78	71
Accounts Receivable, Credit Loss Expense (Reversal)	95	113
Accounts Receivable, Allowance for Credit Loss, Recovery	0	4
International [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(2,006)	(1,816)		(2,006)		(1,746)
Accounts Receivable, Allowance for Credit Loss, Writeoff	98	133
Accounts Receivable, Credit Loss Expense (Reversal)	265	226
Accounts Receivable, Allowance for Credit Loss, Recovery	0	6
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation	23	(29)
Agricultural Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(208)	(230)		$ (208)		$ (181)
Accounts Receivable, Allowance for Credit Loss, Writeoff	47	5
Accounts Receivable, Credit Loss Expense (Reversal)	16	14
Accounts Receivable, Allowance for Credit Loss, Recovery	$ 9	$ 40

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Jan. 31, 2020
Inventory Disclosure [Abstract]
New equipment	$ 334,457	$ 358,339
Used equipment	148,239	157,535
Parts and attachments	86,301	79,813
Work in process	1,683	1,707
Inventories	$ 570,680	$ 597,394

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jan. 31, 2020
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 297,579,000		$ 290,793,000
Less accumulated depreciation	(147,083,000)		(145,231,000)
Property and equipment, net	150,496,000		145,562,000
Impairment	216,000	$ 135,000
Rental fleet equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	101,856,000		104,133,000
Machinery and equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	23,346,000		22,682,000
Vehicles
PROPERTY AND EQUIPMENT
Property and equipment, gross	53,048,000		51,850,000
Furniture and fixtures
PROPERTY AND EQUIPMENT
Property and equipment, gross	42,468,000		41,720,000
Land, buildings, and leasehold improvements
PROPERTY AND EQUIPMENT
Property and equipment, gross	76,861,000		70,408,000
Construction [Member]
PROPERTY AND EQUIPMENT
Impairment	200,000	$ 100,000
Construction [Member] | Rental fleet equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	101,856,000		104,133,000
Less accumulated depreciation	(38,123,000)		(42,076,000)
Property and equipment, net	$ 63,733,000		$ 62,057,000

LINES OF CREDIT _ FLOORPLAN P_3

LINES OF CREDIT / FLOORPLAN PAYABLE (Details) $ in Thousands	6 Months Ended
	Jul. 31, 2020USD ($)	Apr. 03, 2020USD ($)	Jan. 31, 2020USD ($)
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity		$ 250,000	$ 200,000
Floorplan Notes Payable	$ 352,215		371,772
Line of Credit Facility, Covenant Compliance, Minimum Fixed Charge Coverage Ratio	1.10
Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	$ 352,215		$ 371,772
Floorplan Notes Payable [Member] | U.S.
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage	2.00%		4.05%
Floorplan Notes Payable [Member] | Maximum [Member] | U.S.
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage	3.31%		4.81%
Non-Interest Bearing Floorplan Line of Credit [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Floorplan Notes Payable	$ 185,000		$ 205,200
Credit Facility
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	$ 763,000	65,000
Credit Facility | Non-US [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage	1.34%		0.86%
Credit Facility | Maximum [Member] | Non-US [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage	6.15%		7.66%
Bank Syndicate [Domain]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity		$ 185,000
CNH Industrial Capital Credit Facility | Credit Facility
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	$ 450,000
DLL Finance LLC [Member] | Credit Facility
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	60,000
Bank Syndicate [Domain] | Credit Facility
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	185,000
Credit Facility
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	10,000		$ 10,000
CNH Industrial Capital Credit Facility | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	151,790		187,690
Bank Syndicate [Domain] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	98,400
Wells Fargo Credit Facility [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding			82,700
DLL Finance LLC [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	25,064		30,657
Other Affiliates [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	76,961		$ 70,725
Non-US [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Compensating Balance, Amount	$ 5,000

DEFERRED REVENUE (Details)

DEFERRED REVENUE (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Jan. 31, 2020
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability	$ 22,716	$ 40,968
Deferred Revenue	1,030	1,456
Product and Services
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability	$ 21,686	$ 39,512

SENIOR CONVERTIBLE NOTES (Detai

SENIOR CONVERTIBLE NOTES (Details) $ in Thousands	May 01, 2019USD ($)
Convertible Notes
SENIOR CONVERTIBLE NOTES
Debt Instrument, Face Amount	$ 45,600

SENIOR CONVERTIBLE NOTES (Det_2

SENIOR CONVERTIBLE NOTES (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
SENIOR CONVERTIBLE NOTES
Coupon interest expense	$ 978	$ 966	$ 1,944	$ 2,607
Convertible Notes
SENIOR CONVERTIBLE NOTES
Coupon interest expense			0	421
Amortization of debt discount			0	350
Amortization of transaction costs			0	45
Interest Expense			$ 0	$ 816

LONG TERM DEBT (Details)

LONG TERM DEBT (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Jan. 31, 2020
Debt Instrument [Line Items]
Notes and Loans, Noncurrent	$ 48,665	$ 37,789
Current maturities of long-term debt	3,921	13,779
Notes and Loans Payable	52,586	51,568
Due June Twenty Twenty Six
Debt Instrument [Line Items]
Notes and Loans Payable	2,339	2,520
6500 Real Estate
Debt Instrument [Line Items]
Notes and Loans Payable	1,458	1,489
Sale-leaseback Financing Obligation
Debt Instrument [Line Items]
Notes and Loans Payable	17,153	17,781
Real Estate Loan [Member] | Due February Twenty Twenty Seven
Debt Instrument [Line Items]
Notes and Loans Payable	1,964
Real Estate Loan [Member] | Due May Twenty Thirty Nine
Debt Instrument [Line Items]
Notes and Loans Payable	6,485	6,827
Commercial Loan [Member] | 1.7% to 3.89% Loan
Debt Instrument [Line Items]
Notes and Loans Payable	7,446	7,468
Commercial Loan [Member] | 3.94% Loan
Debt Instrument [Line Items]
Notes and Loans Payable	1,025
Loans and Finance Receivables [Member]
Debt Instrument [Line Items]
Notes and Loans Payable	4,315	4,416
Notes Payable, Other Payables [Member]
Debt Instrument [Line Items]
Notes and Loans Payable	401	1,067
Credit Facility
Debt Instrument [Line Items]
Amount outstanding	$ 10,000	$ 10,000

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details 1) $ in Millions	Jul. 31, 2020USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative, Notional Amount	$ 11

DERIVATIVE INSTRUMENTS DERIVATE

DERIVATIVE INSTRUMENTS DERIVATE INSTRUMENTS (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Foreign currency contracts | Not designated as hedging instruments
Derivative Instruments, Gain (Loss)
Foreign currency contract gain	$ 202	$ 166	$ 189	$ 368

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2020	Apr. 30, 2020	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2020	Jan. 31, 2019
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (5,681)	$ (6,459)	$ (4,810)	$ (5,822)	$ (5,931)	$ (5,051)
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	(2,970)	(3,748)	(2,099)	(3,111)	$ (3,220)	$ (2,340)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	778	(528)	1,012	(771)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 778	$ (528)	$ 1,012	$ (771)

LEASES Lease Expense (Details)

LEASES Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Leases [Abstract]
Finance Lease, Right-of-Use Asset, Amortization	$ 389	$ 331	$ 781	$ 707
Finance Lease, Interest Expense	117	139	242	278
Operating Lease, Cost	4,325	4,725	8,788	9,541
Short-term Lease, Cost	110	80	190	160
Variable Lease, Cost	735	715	1,370	1,335
Sublease Income	(131)	(154)	(283)	(321)
Lease, Cost	$ 5,545	$ 5,836	$ 11,088	$ 11,700

LEASES ROU Assets and Lease Lia

LEASES ROU Assets and Lease Liabilities (Details) - USD ($)	Jul. 31, 2020	Jan. 31, 2020
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 83,586,000	$ 88,281,000
Finance Lease, Right-of-Use Asset	8,027,000	6,297,000
Lessee, Right-Of-Use Asset	91,613,000	94,578,000
Operating Lease, Liability, Current	12,158,000	12,259,000
Finance Lease, Liability, Current	4,038,000	1,708,000
Operating Lease, Liability, Noncurrent	83,341,000	88,387,000
Finance Lease, Liability, Noncurrent	3,398,000	4,103,000
Lessee, Lease Liability	$ 102,935,000	$ 106,457,000

LEASES Maturities of Lease Liab

LEASES Maturities of Lease Liabilities (Details) $ in Thousands	Jul. 31, 2020USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 8,852
Finance Lease, Liability, Payments, Remainder of Fiscal Year	3,404
Lessee, Liability, Payments, Remainder of Fiscal Year	12,256
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	17,004
Finance Lease, Liability, Payments, Due Next Twelve Months	1,873
Lessee, Liability, Payments, Due Next Twelve Months	18,877
Lessee, Operating Lease, Liability, Payments, Due Year Two	16,028
Finance Lease, Liability, Payments, Due Year Two	1,226
Lessee, Liability, Payments, Due Year Two	17,254
Lessee, Operating Lease, Liability, Payments, Due Year Three	15,097
Finance Lease, Liability, Payments, Due Year Three	493
Lessee, Liability, Payments, Due Year Three	15,590
Lessee, Operating Lease, Liability, Payments, Due Year Four	13,961
Finance Lease, Liability, Payments, Due Year Four	402
Lessee, Liability, Payments, Due Year Four	14,363
Lessee, Operating Lease, Liability, Payments, Due Year Five	13,804
Finance Lease, Liability, Payments, Due Year Five	311
Lessee, Liability, Payments, Due Year Five	14,115
Lessee, Operating Lease, Liability, Payments, Due after Year Five	34,698
Finance Lease, Liability, Payments, Due after Year Five	1,084
Lessee, Liability, Payments, Due After Year Five	35,782
Lessee, Operating Lease, Liability, Payments, Due	119,444
Finance Lease, Liability, Payment, Due	8,793
Lessee, Liability, Payments, Due	128,237
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	23,945
Finance Lease, Liability, Undiscounted Excess Amount	1,357
Lessee, Liability, Undiscounted Excess Amount	25,302
Operating Lease, Liability	95,499
Finance Lease, Liability	7,436
Present Value of Lease Liabilities	$ 102,935

LEASES Weighted Average Lease T

LEASES Weighted Average Lease Terms (Details)	Jul. 31, 2020
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	7 years 7 months 6 days
Finance Lease, Weighted Average Remaining Lease Term	5 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	6.10%
Finance Lease, Weighted Average Discount Rate, Percent	9.70%

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jan. 31, 2020
Fair Value Disclosures [Abstract]
Long-Lived Assets	$ 0.4	$ 2.8

INCOME TAXES INCOME TAXES (Deta

INCOME TAXES INCOME TAXES (Details)	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	(22.80%)	(25.80%)	(24.30%)	(26.70%)

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($)	May 04, 2020	Jul. 31, 2020	Jan. 31, 2020	Oct. 01, 2019
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 6,800,000	$ 10,900,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities	$ 2,700,000			$ 7,400,000
Purchase Obligation		2,100,000
Cash Acquired from Acquisition		1,000
Business Combination, Acquired Receivable, Fair Value			$ 440,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		4,260,000	6,466,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets		48,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		1,752,000	3,810,000
Business Combination, Recognized Identifiable Asset Acquired And Liability Assumed, Operating Lease Assets		2,006,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		245,000	1,973,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount		484,000	1,198,000
Business Combination, Recognized Identifiable Asset Acquired And Liability Assumed, Operating Lease Liability, Current		159,000
Business Combination, Recognized Identifiable Asset Acquired And Liability Assumed, Operating Lease Liability, Noncurrent		1,847,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		8,796,000	13,887,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		2,006,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		6,790,000	13,887,000
International [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		3,000,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount			499,000
Agricultural Segment [Member]
Business Acquisition [Line Items]
Business Acquisition, Goodwill, Expected Tax Deductible Amount		484,000	699,000
Customer Relationships [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			200,000
Distribution Rights [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		200,000	1,600,000
Noncompete Agreements [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 100,000	$ 100,000

SEGMENT INFORMATION AND OPERA_3

SEGMENT INFORMATION AND OPERATING RESULTS (Details)	3 Months Ended		6 Months Ended
	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)	Jul. 31, 2020USD ($)segment	Jul. 31, 2019USD ($)	Jan. 31, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			3
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	$ 303,465,000	$ 314,981,000	$ 613,673,000	$ 593,271,000
Income (Loss) Before Income Taxes	8,292,000	7,427,000	11,441,000	6,912,000
Total Assets	948,025,000		948,025,000		$ 975,343,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount	484,000		484,000		1,198,000
Agricultural Segment [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Business Acquisition, Goodwill, Expected Tax Deductible Amount	484,000		484,000		699,000
International [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Business Acquisition, Goodwill, Expected Tax Deductible Amount					499,000
Shared Resources
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes	597,000	(589,000)	736,000	(975,000)
Total Assets	61,778,000		61,778,000		63,243,000
Operating Segments
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes	7,695,000	8,016,000	10,705,000	7,887,000
Total Assets	886,247,000		886,247,000		912,100,000
Operating Segments | Agricultural Segment [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	169,072,000	165,692,000	362,700,000	319,464,000
Income (Loss) Before Income Taxes	6,752,000	6,177,000	12,914,000	8,053,000
Total Assets	436,826,000		436,826,000		444,942,000
Operating Segments | Construction
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	77,719,000	84,039,000	137,833,000	154,782,000
Income (Loss) Before Income Taxes	1,375,000	1,334,000	(1,498,000)	(888,000)
Total Assets	248,390,000		248,390,000		275,645,000
Operating Segments | International [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	56,674,000	65,250,000	113,140,000	119,025,000
Income (Loss) Before Income Taxes	(432,000)	$ 505,000	(711,000)	$ 722,000
Total Assets	$ 201,031,000		$ 201,031,000		$ 191,513,000