Titan Machinery (TITN) 10-Q 2 Jun 22 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Apr. 30, 2022	May 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2022
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
Entity Central Index Key	0001409171
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		22,567,932
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) shares in Thousands, $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Current Assets
Cash	$ 147,095	$ 146,149
Receivables, net of allowance for expected credit losses	84,870	94,287
Inventories, net	494,167	421,758
Prepaid expenses and other	22,223	28,135
Total current assets	748,355	690,329
Noncurrent Assets
Property and equipment, net of accumulated depreciation	183,489	178,243
Operating lease assets	53,980	56,150
Deferred income taxes	2,297	1,328
Goodwill	9,535	8,952
Intangible assets, net of accumulated amortization	11,509	10,624
Other	1,032	1,041
Total noncurrent assets	261,842	256,338
Total Assets	1,010,197	946,667
Current Liabilities
Accounts payable	26,817	25,644
Floorplan payable	188,881	135,415
Current maturities of long-term debt	6,270	5,876
Current operating lease liabilities	9,481	9,601
Deferred revenue	129,503	134,146
Accrued expenses and other	47,091	59,339
Income taxes payable	9,456	4,700
Total current liabilities	417,499	374,721
Long-Term Liabilities
Long-term debt, less current maturities	81,974	74,772
Operating lease liabilities	53,284	55,595
Deferred Income Tax Liabilities, Net	2,001	2,006
Other long-term liabilities	3,956	4,374
Total long-term liabilities	141,215	136,747
Commitments and Contingencies (Note 15)
Common stock, shares outstanding	22,569	22,588
Common stock, shares issued	22,569	22,588
Stockholders' Equity
#REF!	$ 0	$ 0
Additional paid-in-capital	254,390	254,455
Retained earnings	200,456	182,916
Accumulated other comprehensive loss	(3,363)	(2,172)
Total Titan Machinery Inc. stockholders' equity	451,483	435,199
Total Liabilities and Stockholders' Equity	$ 1,010,197	$ 946,667

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Apr. 30, 2022	Jan. 31, 2022
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	22,569	22,588
Common stock, shares outstanding	22,569	22,588

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Income Statement [Abstract]
Total Revenue	$ 461,007	$ 372,706
Total Cost of Revenue	372,313	301,728
Gross Profit	88,694	70,978
Operating Expenses	64,152	56,442
Income from Operations	24,542	14,536
Other Income (Expense)
Interest and other income	492	665
Floorplan interest expense	254	418
Other interest expense	(1,196)	(1,104)
Provision for Income Taxes	6,044	3,132
Net Income	$ 17,540	$ 10,547
Earnings per Share:
Earnings (Loss) per Share - Basic, in dollars per share	$ 0.78	$ 0.47
Earnings (Loss) per Share - Diluted, in dollars per share	$ 0.78	$ 0.47
Weighted Average Number of Shares Outstanding, Basic	22,312	22,168
Weighted Average Number of Shares Outstanding, Diluted	22,321	22,179
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 23,584	$ 13,679
Equipment
Revenue	356,366	275,980
Cost of Revenue	310,234	243,676
Parts
Revenue	68,562	62,626
Cost of Revenue	47,310	44,440
Service
Revenue	29,523	27,702
Cost of Revenue	10,760	9,294
Rental and Other
Revenue	6,556	6,398
Cost of Revenue	$ 4,009	$ 4,318

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 17,540	$ 10,547
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	(1,191)	(2,379)
Comprehensive Income	$ 16,349	$ 8,168

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		22,553
Stockholders' Equity Attributable to Parent	$ 371,281		$ 252,913	$ 116,869	$ 1,499
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		(33)
Stock Issued During Period, Value of Restricted Stock Award Stock Options Exercised Warrants Exercised and Tax Benefits of Equity Awards	(975)		(975)
Stock-based compensation expense	609		609
Net Income (Loss) Attributable to Parent	10,547			10,547
Other Comprehensive Income (Loss), Net of Tax	(2,379)				(2,379)
Shares, Outstanding		22,520
Stockholders' Equity Attributable to Parent	379,083		252,547	127,416	(880)
Shares, Outstanding		22,588
Stockholders' Equity Attributable to Parent	435,199		254,455	182,916	(2,172)
Stock Issued During Period, Share of Restricted Stock Award Stock Options Exercised and Warrants and Tax Benefits of Equity Awards		(19)
Stock Issued During Period, Value of Restricted Stock Award Stock Options Exercised Warrants Exercised and Tax Benefits of Equity Awards	(685)		(685)
Stock-based compensation expense	620		620
Net Income (Loss) Attributable to Parent	17,540			17,540
Other Comprehensive Income (Loss), Net of Tax	(1,191)				(1,191)
Shares, Outstanding		22,569
Stockholders' Equity Attributable to Parent	$ 451,483		$ 254,390	$ 200,456	$ (3,363)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Operating Activities
Net Income (Loss) Attributable to Parent	$ 17,540	$ 10,547
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	5,224	5,207
Deferred income taxes	(998)	(1,008)
Stock-based compensation expense	620	609
Noncash interest expense	58	54
Other, net	2,059	2,704
Changes in assets and liabilities
Receivables, prepaid expenses and other assets	(13,446)	1,023
Inventories	(69,321)	(1,615)
Manufacturer floorplan payable	51,069	19,657
Increase (Decrease) in Deferred Revenue	(6,413)	(10,308)
Accounts payable, accrued expenses and other and other long-term liabilities	(7,963)	2,132
Net Cash Provided by Operating Activities	5,321	26,956
Investing Activities
Rental fleet purchases	(1,046)	(2,081)
Property and equipment purchases (excluding rental fleet)	(4,065)	(7,045)
Proceeds from sale of property and equipment	836	135
Acquisition consideration, net of cash acquired	7,675	0
Other, net	6	7
Net Cash Used for Investing Activities	(11,944)	(8,984)
Financing Activities
Net change in non-manufacturer floorplan payable	2,000	(9,141)
Proceeds from long-term debt borrowings	8,415	6,462
Principal payments on long-term debt and finance leases	1,743	3,181
Other, net	(683)	(974)
Net Cash Provided by (Used for) Financing Activities	7,989	(6,834)
Effect of Exchange Rate Changes on Cash	(420)	(399)
Net Change in Cash	946	10,739
Cash at Beginning of Period	146,149	78,990
Cash at End of Period	147,095	89,729
Cash paid during the period
Income taxes, net of refunds	102	253
Interest	1,386	1,404
Supplemental Disclosures of Noncash Investing and Financing Activities
Net property and equipment financed with long-term debt, finance leases, accounts payable and accrued liabilities	1,247	15,763
Net transfer of assets from (to) property and equipment to (from) inventories	$ (891)	$ 300

BUSINESS ACTIVITY AND SIGNIFICA

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Apr. 30, 2022
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 three-month period ended April 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2023. The information contained in the consolidated balance sheet as of January 31, 2022 was derived from the audited consolidated financial statements of the Company for the fiscal year then ended. These condensed 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, 2022 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 Colorado, Iowa, Minnesota, Nebraska, North Dakota, South Dakota, Wisconsin and Wyoming, and its European stores are located in Bulgaria, Germany, Romania, and Ukraine. Russia/Ukraine Geopolitical Conflict On February 24, 2022, the ongoing Russia/Ukraine conflict significantly intensified. Titan Machinery Ukraine, LLC("Titan Machinery Ukraine"), the Company's wholly owned Ukrainian subsidiary, has ten locations throughout Ukraine primarily in western and central Ukraine. The Company's ability to maintain adequate liquidity for its operations, in Ukraine, is dependent upon a number of factors, including Titan Machinery Ukraine's revenue and earnings, the impact of the conflict on macroeconomic conditions, and Titan Machinery Ukraine's ability to implement further cost savings measures and cash conservation measures, if necessary. The conflict could have a significant adverse impact upon the Company. 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, goodwill, or indefinite lived intangible 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. Accounting Guidance Not Yet Adopted In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update ("ASU") No. 2020-04 , Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

EARNINGS PER SHARE (Notes)

EARNINGS PER SHARE (Notes)	3 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the calculation of basic and diluted earnings per share (EPS): Three Months Ended April 30, 2022 2021 (in thousands, except per share data) Numerator: Net income $ 17,540 $ 10,547 Allocation to participating securities (210) (175) Net income attributable to Titan Machinery Inc. common stockholders $ 17,330 $ 10,372 Denominator: Basic weighted-average common shares outstanding 22,312 22,168 Plus: incremental shares from vesting of restricted stock units 9 11 Diluted weighted-average common shares outstanding 22,321 22,179 Earnings Per Share: Basic $ 0.78 $ 0.47 Diluted $ 0.78 $ 0.47

REVENUE (Notes)

REVENUE (Notes)	3 Months Ended
	Apr. 30, 2022
Revenue from Contract with Customer [Abstract]
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 April 30, 2022 Agriculture Construction International Total (in thousands) Equipment $ 251,093 $ 43,819 $ 61,454 $ 356,366 Parts 44,506 12,063 11,993 68,562 Service 21,953 5,823 1,747 29,523 Other 799 303 205 1,307 Revenue from contracts with customers 318,351 62,008 75,399 455,758 Rental 197 4,956 96 5,249 Total revenues $ 318,548 $ 66,964 $ 75,495 $ 461,007 Three Months Ended April 30, 2021 Agriculture Construction International Total (in thousands) Equipment $ 169,257 $ 44,812 $ 61,911 $ 275,980 Parts 39,684 12,108 10,834 62,626 Service 19,753 6,369 1,580 27,702 Other 722 365 92 1,179 Revenue from contracts with customers 229,416 63,654 74,417 367,487 Rental 138 4,954 127 5,219 Total revenues $ 229,554 $ 68,608 $ 74,544 $ 372,706 Unbilled Receivables and Deferred Revenue Unbilled receivables from contracts with customers amounted to $20.6 million and $17.1 million as of April 30, 2022 and January 31, 2022, respectively. This 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 $128.2 million and $132.2 million as of April 30, 2022 and January 31, 2022, respectively. 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 three months ended April 30, 2022 and 2021, the Company recognized $64.6 million and $37.9 million, respectively, of revenue that was included in the deferred revenue balance as of January 31, 2022 and January 31, 2021, respectively. No material amount of revenue was recognized during the three months ended April 30, 2022 or 2021 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 parts installed and 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. For such service contracts, we recognize revenue over time in the amount for which we have the right to invoice for services completed to date.

RECEIVABLES (Notes)

RECEIVABLES (Notes)	3 Months Ended
	Apr. 30, 2022
Receivables [Abstract]
RECEIVABLES	NOTE 4 - RECEIVABLES The Company provides an allowance for expected credit losses on its nonrental receivables. 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. 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 United States and are specifically excluded from the accounting guidance in determining an allowance for expected losses. The Company provides an allowance for these receivables based on historical experience and using credit information obtained from continued monitoring of customer accounts. April 30, 2022 January 31, 2022 (in thousands) Trade and unbilled receivables from contracts with customers Trade receivables due from customers $ 30,588 $ 30,041 Unbilled receivables 20,621 17,129 Less allowance for expected credit losses 2,637 1,979 48,572 45,191 Trade receivables due from finance companies 23,197 17,937 Trade and unbilled receivables from rental contracts Trade receivables 2,692 3,055 Unbilled receivables 484 538 Less allowance for expected credit losses 381 469 2,795 3,124 Other receivables Due from manufacturers 7,720 22,979 Other 2,586 5,056 10,306 28,035 Receivables, net of allowance for expected credit losses $ 84,870 $ 94,287 Following is a summary of allowance for credit losses on trade and unbilled accounts receivable by segment: Agriculture Construction International Total (in thousands) Balance at January 31, 2022 $ 232 $ 166 $ 1,502 $ 1,900 Current expected credit loss provision 3 43 768 814 Write-offs charged against allowance (4) 45 39 80 Credit loss recoveries collected 16 2 — 18 Foreign exchange impact — — (15) (15) Balance at April 30, 2022 $ 255 $ 166 $ 2,216 $ 2,637 Agriculture Construction International Total (in thousands) Balance at January 31, 2021 $ 228 $ 1,074 $ 1,690 $ 2,992 Current expected credit loss provision 30 68 (2) 96 Write-offs charged against allowance 17 84 38 139 Credit loss recoveries collected — 4 — 4 Foreign exchange impact — — (50) (50) Balance at April 30, 2021 $ 241 $ 1,062 $ 1,600 $ 2,903 The increase in the credit loss provision in the International segment, during the three months ended April 30, 2022, was driven by a $0.7 million bad debt provision placed on the accounts receivables due from customers of Titan Machinery Ukraine, primarily due to the ongoing Russia-Ukraine conflict. The following table presents impairment losses (recoveries) on receivables arising from sales contracts with customers and receivables arising from rental contracts: Three Months Ended April 30, 2022 2021 (in thousands) Impairment losses (recoveries) on: Receivables from sales contracts $ 813 $ 98 Receivables from rental contracts (11) (34) $ 802 $ 64

INVENTORIES

INVENTORIES	3 Months Ended
	Apr. 30, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES April 30, 2022 January 31, 2022 (in thousands) New equipment $ 261,348 $ 195,775 Used equipment 125,995 128,047 Parts and attachments 103,872 95,890 Work in process 2,952 2,046 $ 494,167 $ 421,758

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Apr. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT April 30, 2022 January 31, 2022 (in thousands) Rental fleet equipment $ 66,847 $ 65,117 Machinery and equipment 23,651 22,819 Vehicles 61,095 58,650 Furniture and fixtures 50,637 50,228 Land, buildings, and leasehold improvements 127,355 123,323 329,585 320,137 Less accumulated depreciation 146,096 141,894 $ 183,489 $ 178,243

Intangible Assets, Goodwill and

Intangible Assets, Goodwill and Other	3 Months Ended
	Apr. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS AND GOODWILL Indefinite-Lived Intangible Assets The Company's indefinite-lived intangible assets consist of distribution rights assets. The following is a summary of the changes in indefinite-lived intangible assets, by segment, for the three months ended April 30, 2022: Agriculture Construction Total (in thousands) January 31, 2022 $ 10,136 $ 72 $ 10,208 Arising from business combinations 842 — 842 April 30, 2022 $ 10,978 $ 72 $ 11,050 Goodwill The following presents changes in the carrying amount of goodwill, by segment, for the three months ended April 30, 2022: Agriculture Total (in thousands) January 31, 2022 $ 8,952 $ 8,952 Arising from business combinations 583 583 April 30, 2022 $ 9,535 $ 9,535

LINES OF CREDIT _ FLOORPLAN PAY

LINES OF CREDIT / FLOORPLAN PAYABLE	3 Months Ended
	Apr. 30, 2022
Line of Credit Facility [Abstract]
LINES OF CREDIT / FLOORPLAN PAYABLE	FLOORPLAN PAYABLE/LINES OF CREDIT As of April 30, 2022, the Company had floorplan lines of credit totaling $751.0 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 Third Amended and Restated Credit Agreement (the "Bank Syndicate Agreement"), and (iii) a $50.0 million credit facility with DLL Finance LLC. The Company's outstanding balances of floorplan lines of credit as of April 30, 2022 and January 31, 2022, consisted of the following: April 30, 2022 January 31, 2022 (in thousands) CNH Industrial $ 130,897 $ 94,054 DLL Finance 11,583 8,558 Other outstanding balances with manufacturers and non-manufacturers 46,401 32,803 $ 188,881 $ 135,415 As of April 30, 2022 and January 31, 2022, the U.S. floorplan payables were generally all non-interest bearing. As of April 30, 2022, foreign floorplan payables carried various interest rates primarily ranging from 1.40% to 6.80%, compared to a range of 1.40% to 4.79% as of January 31, 2022. The Company had non-interest bearing floorplan payables of $159.5 million and $106.8 million, on April 30, 2022 and January 31, 2022, respectively. The Company has a compensating balance arrangement under one of its foreign floorplan credit facilities, which requires a minimum cash deposit to be maintained with the lender in the amount of $5.0 million for the term of the credit facility.

LONG TERM DEBT (Notes)

LONG TERM DEBT (Notes)	3 Months Ended
	Apr. 30, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG TERM DEBT The following is a summary of long-term debt as of April 30, 2022 and January 31, 2022: Description Maturity Dates Interest Rates April 30, 2022 January 31, 2022 (in thousands) Mortgage loans, secured Various through May 2039 2.1% to 5.1% $ 65,518 $ 57,801 Sale-leaseback financing obligations Various through December 2030 3.4% to 10.3% 12,106 12,382 Vehicle loans, secured Various through September 2027 2.1% to 4.3% 10,620 10,465 Total debt 88,244 80,648 Less: current maturities 6,270 5,876 Long-term debt, net $ 81,974 $ 74,772

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)	3 Months Ended
	Apr. 30, 2022
Accumulated Other Comprehensive Income [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following is a summary of the changes in accumulated other comprehensive income (loss), by component, for the three month periods ended April 30, 2022 and April 30, 2021: Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2022 $ (4,883) $ 2,711 $ (2,172) Other comprehensive loss (1,191) — (1,191) Balance, April 30, 2022 (6,074) 2,711 (3,363) Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2021 $ (1,212) $ 2,711 $ 1,499 Other comprehensive loss (2,379) — (2,379) Balance, April 30, 2021 (3,591) 2,711 (880)

LEASES (Notes)

LEASES (Notes)	3 Months Ended
	Apr. 30, 2022
Leases [Abstract]
LEASES	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; these 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. These 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 April 30, Classification 2022 2021 (in thousands) Finance lease cost: Amortization of leased assets Operating expenses $ 208 $ 395 Interest on lease liabilities Other interest expense 44 108 Operating lease cost Operating expenses and rental and other cost of revenue 3,474 4,541 Short-term lease cost Operating expenses 27 81 Variable lease cost Operating expenses 544 739 Sublease income Interest and other income (369) (136) $ 3,928 $ 5,728 Right-of-use lease assets and lease liabilities consist of the following: Classification April 30, 2022 January 31, 2022 (in thousands) Assets Operating lease assets Operating lease assets $ 53,980 $ 56,150 Finance lease assets (a) Property and equipment, net of accumulated depreciation 8,738 9,045 Total leased assets $ 62,718 $ 65,195 Liabilities Current Operating Current operating lease liabilities $ 9,481 $ 9,601 Finance Accrued expenses and other 7,303 7,466 Noncurrent Operating Operating lease liabilities 53,284 55,595 Finance Other long-term liabilities 1,403 1,518 Total lease liabilities $ 71,471 $ 74,180 (a) Finance lease assets are recorded net of accumulated amortization of $1.7 million as of April 30, 2022 and January 31, 2022. Maturities of lease liabilities as of April 30, 2022 are as follows: Operating Finance Leases Leases Total Fiscal Year Ended January 31, (in thousands) 2023 (remainder) $ 9,863 $ 7,330 $ 17,193 2024 12,378 460 12,838 2025 11,834 406 12,240 2026 11,538 308 11,846 2027 10,825 277 11,102 2028 9,397 228 9,625 Thereafter 9,844 344 10,188 Total lease payments 75,679 9,353 85,032 Less: Interest 12,914 647 13,561 Present value of lease liabilities $ 62,765 $ 8,706 $ 71,471 The weighted-average lease term and discount rate as of April 30, 2022 are as follows: April 30, 2022 Weighted-average remaining lease term (years): Operating leases 6.5 Financing leases 1.3 Weighted-average discount rate: Operating leases 6.2 % Financing leases 4.5 % 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, we may also provide short-term rentals of certain equipment inventory assets. Some 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, included in Property and equipment, net of accumulated depreciation in the condensed consolidated balance sheet, of our Construction segment as of April 30, 2022 and January 31, 2022: April 30, 2022 January 31, 2022 (in thousands) Rental fleet equipment $ 66,847 $ 65,117 Less accumulated depreciation 24,108 23,501 $ 42,739 $ 41,616

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Apr. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS As of April 30, 2022 and January 31, 2022, 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 January 31, 2022 as part of its long-lived asset impairment testing. The estimated fair value of such assets as of January 31, 2022 was $3.1 million. Fair value was estimated through an income approach incorporating both observable and unobservable inputs, and are deemed to be Level 3 fair value inputs. The most significant unobservable inputs include forecasted net cash generated from the use of the assets and the discount rate applied to such cash flows to arrive at a fair value estimate. 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. The Company also has financial instruments that are not recorded at fair value in the consolidated balance sheets, including cash, receivables, payables and long-term debt. The carrying amounts of these financial instruments approximated their fair values as of April 30, 2022 and January 31, 2022. Fair value of these financial instruments was estimated based on Level 2 fair value inputs. The estimated fair value of the Company's Level 2 long-term debt, which is provided for disclosure purposes only, is as follows: April 30, 2022 January 31, 2022 (in thousands) Carrying amount $ 76,138 $ 68,267 Fair value $ 71,864 $ 63,237

INCOME TAXES

INCOME TAXES	3 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES    Our effective tax rate was 25.6% and 22.9% for the three months ended April 30, 2022 and 2021, respectively. The effective tax rate for the three months ended April 30, 2022 and 2021 were subject to various factors such as the impact of certain discrete items, mainly the vesting of share-based compensation, the mix of domestic and foreign income, and recognition of a valuation allowance on certain of our foreign deferred tax asset

BUSINESS COMBINATIONS (Notes)

BUSINESS COMBINATIONS (Notes)	3 Months Ended
	Apr. 30, 2022
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Fiscal 2023 On April 1, 2022, the Company acquired certain assets of Mark's Machinery, Inc. The acquired business consisted of two agricultural equipment stores in Wagner and Yankton, South Dakota. These locations are included in the Company's Agriculture segment. The total cash consideration transferred for the acquired business was $7.7 million. In connection with the acquisition, the Company acquired from CNH Industrial and certain other manufacturers equipment and parts inventory previously owned by Mark's Machinery, Inc. Upon acquiring such inventories, the Company was offered floorplan financing by the respective manufacturers. In total, the Company acquired inventory and recognized a corresponding financing liability of $3.2 million. The recognition of these inventories and the associated financing liabilities are not included as part of the accounting for the business combination. Fiscal 2022 On December 1, 2021, the Company acquired certain assets of Jaycox Implement, Inc. The acquired business consisted of three agricultural equipment stores in Worthington and Luverne, Minnesota and Lake Park, Iowa. These locations are included in the Company's Agriculture segment. The total cash consideration transferred for the acquired business was $28.2 million. The Company completed the real estate purchase on December 31, 2021 for a purchase price of $5.5 million, which was partially financed with long-term debt and the remainder was 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 Jaycox Implement, Inc. Upon acquiring such inventories, the Company was offered floorplan financing by the respective manufacturers. In total, the Company acquired inventory and recognized a corresponding financing liability of $5.3 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. As of April 30, 2022, all business combinations completed in fiscal years 2023 and 2022 are preliminary. The following table presents the aggregate purchase price allocations for all acquisitions completed during the fiscal year ended January 31, 2022 and the period ended April 30, 2022: April 30, 2022 January 31, 2022 (in thousands) Assets acquired: Cash $ 1 $ 4 Receivables 478 1,197 Inventories 3,386 13,780 Prepaid expenses and other 66 47 Property and equipment 4,088 8,236 Intangible assets 917 4,121 Goodwill 583 7,519 9,519 34,904 Liabilities assumed: Deferred revenue 1,844 1,261 Net assets acquired $ 7,675 $ 33,643 Goodwill recognized by segment: Agriculture $ 583 $ 7,519 Goodwill expected to be deductible for tax purposes $ 583 $ 7,519

CONTINGENCIES (Notes)

CONTINGENCIES (Notes)	3 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 15 - CONTINGENCIES The Company is engaged in 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 its 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.

SEGMENT INFORMATION AND OPERATI

SEGMENT INFORMATION AND OPERATING RESULTS	3 Months Ended
	Apr. 30, 2022
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 April 30, 2022 2021 (in thousands) Revenue Agriculture $ 318,548 $ 229,554 Construction 66,964 68,608 International 75,495 74,544 Total $ 461,007 $ 372,706 Income (Loss) Before Income Taxes Agriculture $ 16,449 $ 11,224 Construction 3,210 138 International 4,325 2,808 Segment income before income taxes 23,984 14,170 Shared Resources (400) (491) Total $ 23,584 $ 13,679 April 30, 2022 January 31, 2022 (in thousands) Total Assets Agriculture $ 536,284 $ 481,190 Construction 166,831 157,846 International 152,003 155,275 Segment assets 855,118 794,311 Shared Resources 155,079 152,356 Total $ 1,010,197 $ 946,667

BUSINESS ACTIVITY AND SIGNIFI_2

BUSINESS ACTIVITY AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Apr. 30, 2022
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 three-month period ended April 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2023. The information contained in the consolidated balance sheet as of January 31, 2022 was derived from the audited consolidated financial statements of the Company for the fiscal year then ended. These condensed 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, 2022 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, goodwill, or indefinite lived intangible 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	Accounting Guidance Not Yet Adopted In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update ("ASU") No. 2020-04 , Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the calculation of basic and diluted earnings per share (EPS): Three Months Ended April 30, 2022 2021 (in thousands, except per share data) Numerator: Net income $ 17,540 $ 10,547 Allocation to participating securities (210) (175) Net income attributable to Titan Machinery Inc. common stockholders $ 17,330 $ 10,372 Denominator: Basic weighted-average common shares outstanding 22,312 22,168 Plus: incremental shares from vesting of restricted stock units 9 11 Diluted weighted-average common shares outstanding 22,321 22,179 Earnings Per Share: Basic $ 0.78 $ 0.47 Diluted $ 0.78 $ 0.47

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Apr. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present our revenue disaggregated by revenue source and segment: Three Months Ended April 30, 2022 Agriculture Construction International Total (in thousands) Equipment $ 251,093 $ 43,819 $ 61,454 $ 356,366 Parts 44,506 12,063 11,993 68,562 Service 21,953 5,823 1,747 29,523 Other 799 303 205 1,307 Revenue from contracts with customers 318,351 62,008 75,399 455,758 Rental 197 4,956 96 5,249 Total revenues $ 318,548 $ 66,964 $ 75,495 $ 461,007 Three Months Ended April 30, 2021 Agriculture Construction International Total (in thousands) Equipment $ 169,257 $ 44,812 $ 61,911 $ 275,980 Parts 39,684 12,108 10,834 62,626 Service 19,753 6,369 1,580 27,702 Other 722 365 92 1,179 Revenue from contracts with customers 229,416 63,654 74,417 367,487 Rental 138 4,954 127 5,219 Total revenues $ 229,554 $ 68,608 $ 74,544 $ 372,706

RECEIVABLES (Tables)

RECEIVABLES (Tables)	3 Months Ended
	Apr. 30, 2022
Receivables [Abstract]
Schedule of Receivables	April 30, 2022 January 31, 2022 (in thousands) Trade and unbilled receivables from contracts with customers Trade receivables due from customers $ 30,588 $ 30,041 Unbilled receivables 20,621 17,129 Less allowance for expected credit losses 2,637 1,979 48,572 45,191 Trade receivables due from finance companies 23,197 17,937 Trade and unbilled receivables from rental contracts Trade receivables 2,692 3,055 Unbilled receivables 484 538 Less allowance for expected credit losses 381 469 2,795 3,124 Other receivables Due from manufacturers 7,720 22,979 Other 2,586 5,056 10,306 28,035 Receivables, net of allowance for expected credit losses $ 84,870 $ 94,287
Accounts Receivable, Allowance for Credit Loss	Following is a summary of allowance for credit losses on trade and unbilled accounts receivable by segment: Agriculture Construction International Total (in thousands) Balance at January 31, 2022 $ 232 $ 166 $ 1,502 $ 1,900 Current expected credit loss provision 3 43 768 814 Write-offs charged against allowance (4) 45 39 80 Credit loss recoveries collected 16 2 — 18 Foreign exchange impact — — (15) (15) Balance at April 30, 2022 $ 255 $ 166 $ 2,216 $ 2,637 Agriculture Construction International Total (in thousands) Balance at January 31, 2021 $ 228 $ 1,074 $ 1,690 $ 2,992 Current expected credit loss provision 30 68 (2) 96 Write-offs charged against allowance 17 84 38 139 Credit loss recoveries collected — 4 — 4 Foreign exchange impact — — (50) (50) Balance at April 30, 2021 $ 241 $ 1,062 $ 1,600 $ 2,903
Impaired Financing Receivables	The following table presents impairment losses (recoveries) on receivables arising from sales contracts with customers and receivables arising from rental contracts: Three Months Ended April 30, 2022 2021 (in thousands) Impairment losses (recoveries) on: Receivables from sales contracts $ 813 $ 98 Receivables from rental contracts (11) (34) $ 802 $ 64

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Apr. 30, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	April 30, 2022 January 31, 2022 (in thousands) New equipment $ 261,348 $ 195,775 Used equipment 125,995 128,047 Parts and attachments 103,872 95,890 Work in process 2,952 2,046 $ 494,167 $ 421,758

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Apr. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	PROPERTY AND EQUIPMENT April 30, 2022 January 31, 2022 (in thousands) Rental fleet equipment $ 66,847 $ 65,117 Machinery and equipment 23,651 22,819 Vehicles 61,095 58,650 Furniture and fixtures 50,637 50,228 Land, buildings, and leasehold improvements 127,355 123,323 329,585 320,137 Less accumulated depreciation 146,096 141,894 $ 183,489 $ 178,243

Intangible Assets, Goodwill a_2

Intangible Assets, Goodwill and Other (Tables)	3 Months Ended
	Apr. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	The following is a summary of the changes in indefinite-lived intangible assets, by segment, for the three months ended April 30, 2022: Agriculture Construction Total (in thousands) January 31, 2022 $ 10,136 $ 72 $ 10,208 Arising from business combinations 842 — 842 April 30, 2022 $ 10,978 $ 72 $ 11,050
Schedule of Intangible Assets and Goodwill [Table Text Block]	The following presents changes in the carrying amount of goodwill, by segment, for the three months ended April 30, 2022: Agriculture Total (in thousands) January 31, 2022 $ 8,952 $ 8,952 Arising from business combinations 583 583 April 30, 2022 $ 9,535 $ 9,535

LINES OF CREDIT _ FLOORPLAN P_2

LINES OF CREDIT / FLOORPLAN PAYABLE Summary of Outstanding Amounts (Tables)	3 Months Ended
	Apr. 30, 2022
Line of Credit Facility [Abstract]
Schedule of Line of Credit Facilities	April 30, 2022 January 31, 2022 (in thousands) CNH Industrial $ 130,897 $ 94,054 DLL Finance 11,583 8,558 Other outstanding balances with manufacturers and non-manufacturers 46,401 32,803 $ 188,881 $ 135,415

LONG TERM DEBT (Tables)

LONG TERM DEBT (Tables)	3 Months Ended
	Apr. 30, 2022
Debt Instrument [Line Items]
Schedule of Long-term Debt	The following is a summary of long-term debt as of April 30, 2022 and January 31, 2022: Description Maturity Dates Interest Rates April 30, 2022 January 31, 2022 (in thousands) Mortgage loans, secured Various through May 2039 2.1% to 5.1% $ 65,518 $ 57,801 Sale-leaseback financing obligations Various through December 2030 3.4% to 10.3% 12,106 12,382 Vehicle loans, secured Various through September 2027 2.1% to 4.3% 10,620 10,465 Total debt 88,244 80,648 Less: current maturities 6,270 5,876 Long-term debt, net $ 81,974 $ 74,772

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME AOCI (Tables)	3 Months Ended
	Apr. 30, 2022
Accumulated Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following is a summary of the changes in accumulated other comprehensive income (loss), by component, for the three month periods ended April 30, 2022 and April 30, 2021: Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2022 $ (4,883) $ 2,711 $ (2,172) Other comprehensive loss (1,191) — (1,191) Balance, April 30, 2022 (6,074) 2,711 (3,363) Foreign Currency Translation Adjustment Net Investment Hedging Gain Total Accumulated Other Comprehensive Income (Loss) (in thousands) Balance, January 31, 2021 $ (1,212) $ 2,711 $ 1,499 Other comprehensive loss (2,379) — (2,379) Balance, April 30, 2021 (3,591) 2,711 (880)

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Apr. 30, 2022
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense were as follows: Three Months Ended April 30, Classification 2022 2021 (in thousands) Finance lease cost: Amortization of leased assets Operating expenses $ 208 $ 395 Interest on lease liabilities Other interest expense 44 108 Operating lease cost Operating expenses and rental and other cost of revenue 3,474 4,541 Short-term lease cost Operating expenses 27 81 Variable lease cost Operating expenses 544 739 Sublease income Interest and other income (369) (136) $ 3,928 $ 5,728
Summary of Lease Assets and Liabilities	Right-of-use lease assets and lease liabilities consist of the following: Classification April 30, 2022 January 31, 2022 (in thousands) Assets Operating lease assets Operating lease assets $ 53,980 $ 56,150 Finance lease assets (a) Property and equipment, net of accumulated depreciation 8,738 9,045 Total leased assets $ 62,718 $ 65,195 Liabilities Current Operating Current operating lease liabilities $ 9,481 $ 9,601 Finance Accrued expenses and other 7,303 7,466 Noncurrent Operating Operating lease liabilities 53,284 55,595 Finance Other long-term liabilities 1,403 1,518 Total lease liabilities $ 71,471 $ 74,180 (a) Finance lease assets are recorded net of accumulated amortization of $1.7 million as of April 30, 2022 and January 31, 2022.
Summary of Lease Maturities	Maturities of lease liabilities as of April 30, 2022 are as follows: Operating Finance Leases Leases Total Fiscal Year Ended January 31, (in thousands) 2023 (remainder) $ 9,863 $ 7,330 $ 17,193 2024 12,378 460 12,838 2025 11,834 406 12,240 2026 11,538 308 11,846 2027 10,825 277 11,102 2028 9,397 228 9,625 Thereafter 9,844 344 10,188 Total lease payments 75,679 9,353 85,032 Less: Interest 12,914 647 13,561 Present value of lease liabilities $ 62,765 $ 8,706 $ 71,471
Weighted-Average Lease Term and Discount Rate	The weighted-average lease term and discount rate as of April 30, 2022 are as follows: April 30, 2022 Weighted-average remaining lease term (years): Operating leases 6.5 Financing leases 1.3 Weighted-average discount rate: Operating leases 6.2 % Financing leases 4.5 %
Rental Fleet Assets	The following is the balance of our dedicated rental fleet assets, included in Property and equipment, net of accumulated depreciation in the condensed consolidated balance sheet, of our Construction segment as of April 30, 2022 and January 31, 2022: April 30, 2022 January 31, 2022 (in thousands) Rental fleet equipment $ 66,847 $ 65,117 Less accumulated depreciation 24,108 23,501 $ 42,739 $ 41,616

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Apr. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosure of Asset and Liability Not Measured at Fair Value	The estimated fair value of the Company's Level 2 long-term debt, which is provided for disclosure purposes only, is as follows: April 30, 2022 January 31, 2022 (in thousands) Carrying amount $ 76,138 $ 68,267 Fair value $ 71,864 $ 63,237

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	3 Months Ended
	Apr. 30, 2022
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The following table presents the aggregate purchase price allocations for all acquisitions completed during the fiscal year ended January 31, 2022 and the period ended April 30, 2022: April 30, 2022 January 31, 2022 (in thousands) Assets acquired: Cash $ 1 $ 4 Receivables 478 1,197 Inventories 3,386 13,780 Prepaid expenses and other 66 47 Property and equipment 4,088 8,236 Intangible assets 917 4,121 Goodwill 583 7,519 9,519 34,904 Liabilities assumed: Deferred revenue 1,844 1,261 Net assets acquired $ 7,675 $ 33,643 Goodwill recognized by segment: Agriculture $ 583 $ 7,519 Goodwill expected to be deductible for tax purposes $ 583 $ 7,519

SEGMENT INFORMATION AND OPERA_2

SEGMENT INFORMATION AND OPERATING RESULTS (Tables)	3 Months Ended
	Apr. 30, 2022
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 April 30, 2022 2021 (in thousands) Revenue Agriculture $ 318,548 $ 229,554 Construction 66,964 68,608 International 75,495 74,544 Total $ 461,007 $ 372,706 Income (Loss) Before Income Taxes Agriculture $ 16,449 $ 11,224 Construction 3,210 138 International 4,325 2,808 Segment income before income taxes 23,984 14,170 Shared Resources (400) (491) Total $ 23,584 $ 13,679 April 30, 2022 January 31, 2022 (in thousands) Total Assets Agriculture $ 536,284 $ 481,190 Construction 166,831 157,846 International 152,003 155,275 Segment assets 855,118 794,311 Shared Resources 155,079 152,356 Total $ 1,010,197 $ 946,667

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Parent	$ 17,540	$ 10,547
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	210	175
Net Income (Loss) Available to Common Stockholders, Basic	$ 17,330	$ 10,372
Basic weighted-average common shares outstanding	22,312	22,168
Weighted Average Number Diluted Shares Outstanding Adjustment	9	11
Weighted Average Number of Shares Outstanding, Diluted	22,321	22,179
Earnings Per Share, Basic	$ 0.78	$ 0.47
Earnings Per Share, Diluted	$ 0.78	$ 0.47

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 461,007	$ 372,706
Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue	455,758	367,487
Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,307	1,179
Service
Disaggregation of Revenue [Line Items]
Revenue	29,523	27,702
Parts
Disaggregation of Revenue [Line Items]
Revenue	68,562	62,626
Equipment
Disaggregation of Revenue [Line Items]
Revenue	356,366	275,980
Rental
Disaggregation of Revenue [Line Items]
Revenues	5,249	5,219
Operating Segments [Member] | Agricultural Segment [Member]
Disaggregation of Revenue [Line Items]
Revenues	318,548	229,554
Operating Segments [Member] | Agricultural Segment [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue	318,351	229,416
Operating Segments [Member] | Agricultural Segment [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	799	722
Operating Segments [Member] | Agricultural Segment [Member] | Service
Disaggregation of Revenue [Line Items]
Revenue	21,953	19,753
Operating Segments [Member] | Agricultural Segment [Member] | Parts
Disaggregation of Revenue [Line Items]
Revenue	44,506	39,684
Operating Segments [Member] | Agricultural Segment [Member] | Equipment
Disaggregation of Revenue [Line Items]
Revenue	251,093	169,257
Operating Segments [Member] | Agricultural Segment [Member] | Rental
Disaggregation of Revenue [Line Items]
Revenues	197	138
Operating Segments [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenues	75,495	74,544
Operating Segments [Member] | International [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue	75,399	74,417
Operating Segments [Member] | International [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	205	92
Operating Segments [Member] | International [Member] | Service
Disaggregation of Revenue [Line Items]
Revenue	1,747	1,580
Operating Segments [Member] | International [Member] | Parts
Disaggregation of Revenue [Line Items]
Revenue	11,993	10,834
Operating Segments [Member] | International [Member] | Equipment
Disaggregation of Revenue [Line Items]
Revenue	61,454	61,911
Operating Segments [Member] | International [Member] | Rental
Disaggregation of Revenue [Line Items]
Revenues	96	127
Operating Segments [Member] | Construction Segment [Member]
Disaggregation of Revenue [Line Items]
Revenues	66,964	68,608
Operating Segments [Member] | Construction Segment [Member] | Revenue from Contracts with Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue	62,008	63,654
Operating Segments [Member] | Construction Segment [Member] | Other Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue	303	365
Operating Segments [Member] | Construction Segment [Member] | Service
Disaggregation of Revenue [Line Items]
Revenue	5,823	6,369
Operating Segments [Member] | Construction Segment [Member] | Parts
Disaggregation of Revenue [Line Items]
Revenue	12,063	12,108
Operating Segments [Member] | Construction Segment [Member] | Equipment
Disaggregation of Revenue [Line Items]
Revenue	43,819	44,812
Operating Segments [Member] | Construction Segment [Member] | Rental
Disaggregation of Revenue [Line Items]
Revenues	$ 4,956	$ 4,954

REVENUE Unbilled Receivables (D

REVENUE Unbilled Receivables (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Revenue from Contract with Customer [Abstract]
Unbilled Receivables, Current	$ 20,600	$ 17,100

REVENUE Deferred Revenue (Detai

REVENUE Deferred Revenue (Details) - USD ($)	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Jan. 31, 2022
Deferred Revenue Arrangement [Line Items]
Deferred Revenue, Revenue Recognized	$ 64,600,000	$ 37,900,000
Deferred Revenue from Contracts with Customers [Member]
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$ 128,200,000		$ 132,200,000

RECEIVABLES (Details)

RECEIVABLES (Details) - USD ($)	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Jan. 31, 2022	Jan. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue from Contracts with Customers, Impairment Loss	$ 813,000	$ 98,000
Rental Contract, Impairment Loss	(11,000)	(34,000)
Accounts Receivable, Allowance for Credit Loss	(700,000)		$ (1,900,000)	$ (2,992,000)
Accounts Receivable, after Allowance for Credit Loss, Current	84,870,000		94,287,000
Unbilled Receivables, Current	20,600,000		17,100,000
Accounts Receivable, Allowance for Credit Loss, Writeoff	80,000	139,000
Accounts Receivable, Credit Loss Expense (Reversal)	814,000	96,000
Accounts Receivable, Allowance for Credit Loss, Recovery	18,000	4,000
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation	(15,000)	(50,000)
Impaired Financing Receivables	802,000	64,000
Accounting Standards Update 2016-13
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(2,637,000)	(2,903,000)
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	30,588,000		30,041,000
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	484,000		538,000
Accounts Receivable, Allowance for Credit Loss	(2,637,000)		(1,979,000)
Accounts Receivable, after Allowance for Credit Loss, Current	48,572,000		45,191,000
Unbilled Receivables, Current	20,621,000		17,129,000
Trade Receivables due from Finance Companies [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	23,197,000		17,937,000
Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	2,692,000		3,055,000
Receivables due from Manufacturers [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	7,720,000		22,979,000
Other Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss, Current	2,586,000		5,056,000
Accounts Receivable, after Allowance for Credit Loss, Current	10,306,000		28,035,000
Trade And Unbilled Receivables From Rental Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(381,000)		(469,000)
Accounts Receivable, after Allowance for Credit Loss, Current	2,795,000		3,124,000
Agricultural Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(255,000)	(241,000)	(232,000)	(228,000)
Accounts Receivable, Allowance for Credit Loss, Writeoff	(4,000)	17,000
Accounts Receivable, Credit Loss Expense (Reversal)	3,000	30,000
Accounts Receivable, Allowance for Credit Loss, Recovery	16,000	0
International [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(2,216,000)	(1,600,000)	(1,502,000)	(1,690,000)
Accounts Receivable, Allowance for Credit Loss, Writeoff	39,000	38,000
Accounts Receivable, Credit Loss Expense (Reversal)	768,000	(2,000)
Accounts Receivable, Allowance for Credit Loss, Recovery	0	0
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation	(15,000)	(50,000)
Construction Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Allowance for Credit Loss	(166,000)	(1,062,000)	$ (166,000)	$ (1,074,000)
Accounts Receivable, Allowance for Credit Loss, Writeoff	45,000	84,000
Accounts Receivable, Credit Loss Expense (Reversal)	43,000	68,000
Accounts Receivable, Allowance for Credit Loss, Recovery	$ 2,000	$ 4,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Inventory Disclosure [Abstract]
New equipment	$ 261,348	$ 195,775
Used equipment	125,995	128,047
Parts and attachments	103,872	95,890
Work in process	2,952	2,046
Inventories	$ 494,167	$ 421,758

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
PROPERTY AND EQUIPMENT
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, before Accumulated Depreciation and Amortization	$ 329,585	$ 320,137
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, Accumulated Depreciation and Amortization	146,096	141,894
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	(183,489)	(178,243)
Rental fleet equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	66,847	65,117
Machinery and equipment
PROPERTY AND EQUIPMENT
Property and equipment, gross	23,651	22,819
Vehicles
PROPERTY AND EQUIPMENT
Property and equipment, gross	61,095	58,650
Furniture and fixtures
PROPERTY AND EQUIPMENT
Property and equipment, gross	50,637	50,228
Land, Buildings and Improvements
PROPERTY AND EQUIPMENT
Property and equipment, gross	$ 127,355	$ 123,323

PROPERTY AND EQUIPMENT Deprecia

PROPERTY AND EQUIPMENT Depreciation (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
PROPERTY AND EQUIPMENT
Cost, Depreciation	$ 1,500	$ 1,700
Depreciation, Nonproduction	$ 3,500	$ 3,100

Intangible Assets, Goodwill a_3

Intangible Assets, Goodwill and Other (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Jan. 31, 2022
Indefinite-lived Intangible Assets [Line Items]
Other Indefinite-lived Intangible Assets	$ 11,050	$ 10,208
Goodwill [Line Items]
Goodwill	9,535	8,952
Goodwill, Acquired During Period	583
Agricultural Segment [Member]
Indefinite-lived Intangible Assets [Line Items]
Other Indefinite-lived Intangible Assets	10,978	10,136
Goodwill [Line Items]
Goodwill	9,535	8,952
Construction Segment [Member]
Indefinite-lived Intangible Assets [Line Items]
Other Indefinite-lived Intangible Assets	$ 72	$ 72

LINES OF CREDIT _ FLOORPLAN P_3

LINES OF CREDIT / FLOORPLAN PAYABLE (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Floorplan Notes Payable	$ 188,881	$ 135,415
Compensating Balance, Amount	5,000	5,000
Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	188,881	135,415
Non-Interest Bearing Floorplan Line of Credit [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Floorplan Notes Payable	159,500	$ 106,800
Credit Facility
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	$ 751,000
Credit Facility | Non-US [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage	1.40%	1.40%
Credit Facility | Maximum [Member] | Non-US [Member]
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Debt Instrument, Interest Rate, Stated Percentage	6.80%	4.79%
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	50,000
Bank Syndicate [Domain] | Credit Facility
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Maximum borrowing capacity	185,000
CNH Industrial Capital Credit Facility | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	130,897	$ 94,054
DLL Finance LLC [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	11,583	8,558
Other Affiliates [Member] | Floorplan Line of Credit
LINES OF CREDIT / FLOORPLAN NOTES PAYABLE
Amount outstanding	$ 46,401	$ 32,803

LONG TERM DEBT (Details)

LONG TERM DEBT (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Debt Instrument [Line Items]
Long-term Debt	$ 88,244	$ 80,648
Current maturities of long-term debt	6,270	5,876
Long-term debt, less current maturities	81,974	74,772
Mortgages
Debt Instrument [Line Items]
Notes and Loans Payable	65,518	57,801
Sale-leaseback Financing Obligation
Debt Instrument [Line Items]
Notes and Loans Payable	12,106	12,382
Secured Debt
Debt Instrument [Line Items]
Notes and Loans Payable	10,620	10,465
Loans Payable
Debt Instrument [Line Items]
Long-term Debt	$ 76,138	$ 68,267

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Jan. 31, 2022	Jan. 31, 2021
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (6,074)	$ (3,591)	$ (4,883)	$ (1,212)
Derivatives used in Net Investment Hedge, Net of Tax	2,711	2,711	2,711	2,711
Accumulated Other Comprehensive Income (Loss), Net of Tax	(3,363)	(880)	$ (2,172)	$ 1,499
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	(1,191)	(2,379)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ (1,191)	$ (2,379)

LEASES (Details)

LEASES (Details) - Rental Fleet Equipment [Member] - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 66,847	$ 65,117
Construction Segment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net of accumulated depreciation	42,739	41,616
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	24,108	23,501
Property and equipment, gross	$ 66,847	$ 65,117

LEASES Lease Expense (Details)

LEASES Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Leases [Abstract]
Finance Lease, Right-of-Use Asset, Amortization	$ 208	$ 395
Finance Lease, Interest Expense	44	108
Operating Lease, Cost	3,474	4,541
Short-term Lease, Cost	27	81
Variable Lease, Cost	544	739
Sublease Income	(369)	(136)
Lease, Cost	$ 3,928	$ 5,728

LEASES ROU Assets and Lease Lia

LEASES ROU Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Leases [Abstract]
Operating lease assets	$ 53,980	$ 56,150
Finance Lease, Right-of-Use Asset	8,738	9,045
Lessee, Right-Of-Use Asset	62,718	65,195
Current operating lease liabilities	9,481	9,601
Finance Lease, Liability, Current	7,303	7,466
Operating Lease, Liability, Noncurrent	53,284	55,595
Finance Lease, Liability, Noncurrent	1,403	1,518
Lessee, Lease Liability	$ 71,471	$ 74,180

LEASES Maturities of Lease Liab

LEASES Maturities of Lease Liabilities (Details) $ in Thousands	Apr. 30, 2022USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 9,863
Finance Lease, Liability, Payments, Remainder of Fiscal Year	7,330
Lessee, Liability, Payments, Remainder of Fiscal Year	17,193
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	12,378
Finance Lease, Liability, Payments, Due Next Twelve Months	460
Lessee, Liability, Payments, Due Next Twelve Months	12,838
Lessee, Operating Lease, Liability, Payments, Due Year Two	11,834
Finance Lease, Liability, Payments, Due Year Two	406
Lessee, Liability, Payments, Due Year Two	12,240
Lessee, Operating Lease, Liability, Payments, Due Year Three	11,538
Finance Lease, Liability, Payments, Due Year Three	308
Lessee, Liability, Payments, Due Year Three	11,846
Lessee, Operating Lease, Liability, Payments, Due Year Four	10,825
Finance Lease, Liability, Payments, Due Year Four	277
Lessee, Liability, Payments, Due Year Four	11,102
Lessee, Operating Lease, Liability, Payments, Due Year Five	9,397
Finance Lease, Liability, Payments, Due Year Five	228
Lessee, Liability, Payments, Due Year Five	9,625
Lessee, Operating Lease, Liability, Payments, Due after Year Five	9,844
Finance Lease, Liability, Payments, Due after Year Five	344
Lessee, Liability, Payments, Due After Year Five	10,188
Lessee, Operating Lease, Liability, Payments, Due	75,679
Finance Lease, Liability, Payment, Due	9,353
Lessee, Liability, Payments, Due	85,032
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	12,914
Finance Lease, Liability, Undiscounted Excess Amount	647
Lessee, Liability, Undiscounted Excess Amount	13,561
Operating Lease, Liability	62,765
Finance Lease, Liability	8,706
Present Value of Lease Liabilities	$ 71,471

LEASES Weighted Average Lease T

LEASES Weighted Average Lease Terms (Details)	Apr. 30, 2022
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 6 months
Finance Lease, Weighted Average Remaining Lease Term	1 year 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	6.20%
Finance Lease, Weighted Average Discount Rate, Percent	4.50%

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Apr. 30, 2022	Jan. 31, 2022
Fair Value Disclosures [Abstract]
Long-Lived Assets		$ 3.1
Long-term Debt, Fair Value	$ 71,864,000	63,237,000
Long-term Debt	88,244,000	80,648,000
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term Debt	88,244,000	80,648,000
Long-Lived Assets		3.1
Loans Payable
Fair Value Disclosures [Abstract]
Long-term Debt	76,138,000	68,267,000
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term Debt	$ 76,138,000	$ 68,267,000

INCOME TAXES INCOME TAXES (Deta

INCOME TAXES INCOME TAXES (Details)	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	(25.60%)	(22.90%)

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($)	Apr. 30, 2022	Jan. 31, 2022
Business Acquisition [Line Items]
Cash Acquired from Acquisition	$ 1,000	$ 4,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	3,386,000	13,780,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	66,000	47,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	4,088,000	8,236,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	917,000	4,121,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount	583,000	7,519,000
Business Combination, Acquired Receivable, Fair Value	478,000	1,197,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	9,519,000	34,904,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue	1,844,000	1,261,000
Noncompete Agreements [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	100,000	100,000
Agricultural Segment [Member]
Business Acquisition [Line Items]
Business Acquisition, Goodwill, Expected Tax Deductible Amount	$ 583,000	7,519,000
Distribution Rights [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 3,900,000

SEGMENT INFORMATION AND OPERA_3

SEGMENT INFORMATION AND OPERATING RESULTS (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2022USD ($)segment	Apr. 30, 2021USD ($)	Jan. 31, 2022USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	3
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	$ 461,007	$ 372,706
Income (Loss) Before Income Taxes	23,584	13,679
Total Assets	1,010,197		$ 946,667
Shared Resources
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes	(400)	(491)
Total Assets	155,079		152,356
Operating Segments
SEGMENT INFORMATION AND OPERATING RESULTS
Income (Loss) Before Income Taxes	23,984	14,170
Total Assets	855,118		794,311
Operating Segments | Agricultural Segment [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	318,548	229,554
Income (Loss) Before Income Taxes	16,449	11,224
Total Assets	536,284		481,190
Operating Segments | Construction Segment [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	66,964	68,608
Income (Loss) Before Income Taxes	3,210	138
Total Assets	166,831		157,846
Operating Segments | International [Member]
SEGMENT INFORMATION AND OPERATING RESULTS
Revenue	75,495	74,544
Income (Loss) Before Income Taxes	4,325	$ 2,808
Total Assets	$ 152,003		$ 155,275