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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jul. 31, 2019	Aug. 31, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	Limoneira CO
Entity Central Index Key	0001342423
Current Fiscal Year End Date	--10-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,772,753

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jul. 31, 2019	Oct. 31, 2018
Current assets:
Cash	$ 943	$ 609
Accounts receivable, net	24,127	14,116
Cultural costs	7,034	5,413
Prepaid expenses and other current assets	18,483	10,528
Income taxes receivable	0	378
Total current assets	50,587	31,044
Property, plant and equipment, net	247,619	225,681
Real estate development	16,378	107,162
Equity in investments	57,775	18,698
Investment in Calavo Growers, Inc.	21,226	24,250
Other assets	22,104	14,504
Total assets	415,689	421,339
Current liabilities:
Accounts payable	16,174	6,134
Growers payable	15,752	10,089
Accrued liabilities	4,273	7,724
Current portion of long-term debt	3,024	3,127
Total current liabilities	39,223	27,074
Long-term liabilities:
Long-term debt, less current portion	109,253	76,966
Deferred income taxes	25,090	25,372
Other long-term liabilities	3,196	3,647
Sale-leaseback deferral	0	58,330
Total liabilities	176,762	191,389
Commitments and contingencies (See Note 16)
Stockholders’ equity:
Common Stock – $0.01 par value (39,000,000 shares authorized: 17,772,753 and 17,647,135 shares issued and outstanding at July 31, 2019 and October 31, 2018, respectively)	178	176
Additional paid-in capital	160,200	159,071
Retained earnings	57,309	50,354
Accumulated other comprehensive (loss) income	(5,130)	8,965
Noncontrolling interest	15,560	574
Total stockholders’ equity	228,117	219,140
Total liabilities and stockholders’ equity	415,689	421,339
Series B Convertible Preferred Stock
Long-term liabilities:
Convertible Preferred Stock	1,479	1,479
Series B-2 Convertible Preferred Stock
Long-term liabilities:
Convertible Preferred Stock	9,331	9,331
Series A Junior Participating Preferred Stock
Stockholders’ equity:
Series A Junior Participating Preferred Stock – $0.01 par value (20,000 shares authorized: zero issued or outstanding at July 31, 2019 and October 31, 2018)	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Jul. 31, 2019	Oct. 31, 2018
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	39,000,000	39,000,000
Common stock, shares issued (in shares)	17,772,753	17,647,135
Common Stock, outstanding (in shares)	17,772,753	17,647,135
Series B Convertible Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)	14,790	14,790
Preferred stock, shares outstanding (in shares)	14,790	14,790
Coupon rate	8.75%	8.75%
Series B-2 Convertible Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100	$ 100
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	9,300	9,300
Preferred stock, shares outstanding (in shares)	9,300	9,300
Coupon rate	4.00%	4.00%
Liquidation preference per share (in dollars per share)	$ 1,000	$ 1,000
Series A Junior Participating Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Net revenues:
Rental operations	$ 1,238	$ 1,273	$ 3,668	$ 3,803
Total net revenues	50,869	39,950	134,922	114,678
Costs and expenses:
Rental operations	993	1,004	3,167	3,045
Selling, general and administrative	4,961	3,513	14,819	11,529
Total costs and expenses	48,751	28,525	136,829	95,611
Operating income (loss)	2,118	11,425	(1,907)	19,067
Other (expense) income:
Interest expense	(774)	(260)	(1,313)	(1,054)
Equity in earnings of investments	480	123	2,449	40
Loss on sale of stock in Calavo Growers, Inc.	(6)	0	(6)	0
Unrealized loss on stock in Calavo Growers, Inc.	(1,769)	0	(2,067)	0
Other income, net	15	26	375	283
Total other (expense) income	(2,054)	(111)	(562)	(731)
Income (loss) before income tax (provision) benefit	64	11,314	(2,469)	18,336
Income tax (provision) benefit	(461)	(3,114)	216	5,093
Net (loss) income	(397)	8,200	(2,253)	23,429
Net (income) loss attributable to noncontrolling interest	(593)	1	(615)	(4)
Net (loss) income attributable to Limoneira Company	(990)	8,201	(2,868)	23,425
Preferred dividends	(125)	(125)	(376)	(376)
Net (loss) income attributable to common stock	$ (1,115)	$ 8,076	$ (3,244)	$ 23,049
Basic net (loss) income per common share (in dollars per share)	$ (0.06)	$ 0.51	$ (0.19)	$ 1.54
Diluted net (loss) income per common share (in dollars per share)	$ (0.06)	$ 0.50	$ (0.19)	$ 1.50
Weighted-average common shares outstanding-basic (in shares)	17,554,000	15,947,000	17,527,000	14,979,000
Weighted-average common shares outstanding-diluted (in shares)	17,554,000	16,551,000	17,527,000	15,578,000
Agribusiness
Net revenues:
Revenues	$ 49,631	$ 38,677	$ 131,254	$ 110,875
Costs and expenses:
Costs and expenses	42,747	23,983	118,741	80,943
Real estate development
Net revenues:
Revenues	0	0	0	0
Costs and expenses:
Costs and expenses	$ 50	$ 25	$ 102	$ 94

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (397)	$ 8,200	$ (2,253)	$ 23,429
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(559)	(75)	(116)	218
Minimum pension liability adjustment, net of tax of $28, $51, $83 and $154 for the three and nine months ended July 31, 2019 and 2018, respectively.	72	125	218	372
Unrealized holding gains on available-for-sale securities, net of tax of $0, $105, $0 and $1,653 for the three and nine months ended July 31, 2019 and 2018, respectively.	0	(255)	0	3,987
Unrealized gains from derivative instrument, net of tax of $0, $12, $0 and $79 for the three and nine months ended July 31, 2019 and 2018, respectively.	0	2	0	163
Total other comprehensive (loss) income, net of tax	(487)	(203)	102	4,740
Comprehensive (loss) income	(884)	7,997	(2,151)	28,169
Comprehensive loss (income) attributable to noncontrolling interest	575	(30)	576	6
Comprehensive (loss) income attributable to Limoneira Company	$ (309)	$ 7,967	$ (1,575)	$ 28,175

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Statement of Other Comprehensive Income [Abstract]
Minimum pension liability adjustment, tax	$ 28	$ 51	$ 83	$ 154
Unrealized holding gains on security available for sale, tax	0	105	0	1,653
Unrealized gain from derivative instrument, tax	$ 0	$ 12	$ 0	$ 79

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND TEMPORARY EQUITY - USD ($) $ in Thousands	Total	Series B Preferred Stock	Series B2 Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Series B Preferred Stock	Retained Earnings Series B2 Preferred Stock	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Beginning balance (in shares) at Oct. 31, 2017				14,405,031
Beginning balance at Oct. 31, 2017	$ 136,793			$ 144	$ 94,294	$ 34,692			$ 7,076	$ 587
Beginning balance, temporary equity at Oct. 31, 2017		$ 1,479	$ 9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(908)					(908)
Dividends		(32)	(93)				$ (32)	$ (93)
Stock compensation (in shares)				145,441
Stock compensation	709			$ 1	708
Exchange of common stock (in shares)				(17,520)
Exchange of common stock	(401)				(401)
Net (loss) income	8,623					8,625				(2)
Other comprehensive income, net of tax	3,316								3,291	25
Ending balance (in shares) at Jan. 31, 2018				14,532,952
Ending balance at Jan. 31, 2018	148,007			$ 145	94,601	42,284			10,367	610
Ending balance, temporary equity at Jan. 31, 2018		1,479	9,331
Beginning balance (in shares) at Oct. 31, 2017				14,405,031
Beginning balance at Oct. 31, 2017	136,793			$ 144	94,294	34,692			7,076	587
Beginning balance, temporary equity at Oct. 31, 2017		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	23,429
Ending balance (in shares) at Jul. 31, 2018				17,669,314
Ending balance at Jul. 31, 2018	226,584			$ 177	159,173	54,824			11,817	593
Ending balance, temporary equity at Jul. 31, 2018		1,479	9,331
Beginning balance (in shares) at Jan. 31, 2018				14,532,952
Beginning balance at Jan. 31, 2018	148,007			$ 145	94,601	42,284			10,367	610
Beginning balance, temporary equity at Jan. 31, 2018		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(908)					(908)
Dividends		(33)	(93)				(33)	(93)
Stock compensation (in shares)				0
Stock compensation	230			$ 0	230
Net (loss) income	6,606					6,599				7
Other comprehensive income, net of tax	1,658								1,652	6
Ending balance (in shares) at Apr. 30, 2018				14,532,952
Ending balance at Apr. 30, 2018	155,467			$ 145	94,831	47,849			12,019	623
Ending balance, temporary equity at Apr. 30, 2018		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(1,101)					(1,101)
Dividends		(32)	(93)				(32)	(93)
Stock compensation	277				277
Issuance of common stock (in shares)				3,136,362
Issuance of common stock	64,097			$ 32	64,065
Net (loss) income	8,200					8,201				(1)
Other comprehensive income, net of tax	(231)								(202)	(29)
Ending balance (in shares) at Jul. 31, 2018				17,669,314
Ending balance at Jul. 31, 2018	226,584			$ 177	159,173	54,824			11,817	593
Ending balance, temporary equity at Jul. 31, 2018		1,479	9,331
Beginning balance (in shares) at Oct. 31, 2018				17,647,135
Beginning balance at Oct. 31, 2018	219,140			$ 176	159,071	50,354			8,965	574
Beginning balance, temporary equity at Oct. 31, 2018		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(1,332)					(1,332)
Dividends		(32)	(93)				(32)	(93)
Stock compensation (in shares)				145,737
Stock compensation	791			$ 2	789
Exchange of common stock (in shares)				(20,119)
Exchange of common stock	(305)				(305)
Net (loss) income	(4,676)					(4,693)				17
Other comprehensive income, net of tax	957								969	(12)
Ending balance (in shares) at Jan. 31, 2019				17,772,753
Ending balance at Jan. 31, 2019	214,450			$ 178	159,555	58,401			(4,263)	579
Ending balance, temporary equity at Jan. 31, 2019		1,479	9,331
Beginning balance (in shares) at Oct. 31, 2018				17,647,135
Beginning balance at Oct. 31, 2018	219,140			$ 176	159,071	50,354			8,965	574
Beginning balance, temporary equity at Oct. 31, 2018		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(2,253)
Ending balance (in shares) at Jul. 31, 2019				17,772,753
Ending balance at Jul. 31, 2019	228,117			$ 178	160,200	57,309			(5,130)	15,560
Ending balance, temporary equity at Jul. 31, 2019		1,479	9,331
Beginning balance (in shares) at Jan. 31, 2019				17,772,753
Beginning balance at Jan. 31, 2019	214,450			$ 178	159,555	58,401			(4,263)	579
Beginning balance, temporary equity at Jan. 31, 2019		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(1,333)					(1,333)
Dividends		(33)	(93)				(33)	(93)
Stock compensation (in shares)				0
Stock compensation	437			$ 0	437
Net (loss) income	2,820					2,815				5
Other comprehensive income, net of tax	(389)								(380)	(9)
Ending balance (in shares) at Apr. 30, 2019				17,772,753
Ending balance at Apr. 30, 2019	215,859			$ 178	159,992	59,757			(4,643)	575
Ending balance, temporary equity at Apr. 30, 2019		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(1,333)					(1,333)
Dividends		(32)	(93)				$ (32)	$ (93)
Stock compensation (in shares)				0
Stock compensation	208			$ 0	208
Acquired noncontrolling interest	14,410									14,410
Net (loss) income	(397)					(990)				593
Other comprehensive income, net of tax	(505)								(487)	(18)
Ending balance (in shares) at Jul. 31, 2019				17,772,753
Ending balance at Jul. 31, 2019	$ 228,117			$ 178	$ 160,200	$ 57,309			$ (5,130)	$ 15,560
Ending balance, temporary equity at Jul. 31, 2019		$ 1,479	$ 9,331

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND TEMPORARY EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018
Dividends on common stock (in dollars per share)	$ 0.075	$ 0.075	$ 0.075	$ 0.0625	$ 0.0625	$ 0.0625
Series B Preferred Stock
Dividends on preferred stock (in dollars per share)	2.19	2.19	2.19	2.19	2.19	2.19
Series B2 Preferred Stock
Dividends on preferred stock (in dollars per share)	$ 10	$ 10	$ 10	$ 10	$ 10	$ 10

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Operating activities
Net (loss) income	$ (2,253)	$ 23,429
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	6,327	5,210
(Gain) loss on disposals of assets	(11)	188
Gain on sales of real estate development assets	0	(25)
Stock compensation expense	1,436	1,216
Equity in earnings of investments	(2,449)	(40)
Cash distributions from equity investments	458	175
Deferred income taxes	(216)	(5,519)
Accrued interest on notes receivable	(146)	(136)
Loss on sale of stock in Calavo Growers, Inc.	6	0
Unrealized loss on stock in Calavo Growers, Inc.	2,067	0
Changes in operating assets and liabilities:
Accounts receivable	(10,014)	(4,031)
Cultural costs	1,644	(246)
Prepaid expenses and other current assets	(4,692)	(954)
Income taxes receivable	0	250
Other assets	(39)	26
Accounts payable and growers payable	15,505	3,927
Accrued liabilities	(3,206)	(314)
Other long-term liabilities	(143)	47
Net cash provided by operating activities	4,274	23,203
Investing activities
Capital expenditures	(12,613)	(9,003)
Purchase of real estate development parcel	0	(1,444)
Net proceeds from sales of real estate development assets	0	1,543
Agriculture property acquisitions	(397)	(13,111)
Business combinations	(15,000)	(25,000)
Net proceeds from sale of stock in Calavo Growers, Inc.	952	0
Collections of installments on note receivable	150	0
Equity investment contributions	(4,000)	(3,500)
Investments in mutual water companies	(472)	(337)
Net cash used in investing activities	(31,380)	(50,852)
Financing activities
Borrowings of long-term debt	95,321	135,127
Repayments of long-term debt	(63,163)	(167,881)
Dividends paid – common	(3,998)	(2,920)
Dividends paid – preferred	(376)	(376)
Exchange of common stock	(305)	(401)
Issuance of common stock	0	64,097
Net cash provided by financing activities	27,479	27,646
Effect of exchange rate changes on cash	(39)	16
Net increase in cash	334	13
Cash at beginning of period	609	492
Cash at end of period	943	505
Supplemental disclosures of cash flow information
Cash paid during the period for interest (net of amounts capitalized)	2,018	1,547
Cash paid during the period for income taxes, net of (refunds)	130	210
Non-cash investing and financing activities:
Unrealized holding gain on Calavo investment	0	(5,640)
(Decrease) increase in real estate development and sale-leaseback deferral	(58,330)	13,731
Reclassification from real estate development to equity in investments	(33,353)	0
Increase in equity in investments and other long-term liabilities	0	1,080
Non-cash issuance of note receivable	0	3,000
Non-cash reduction of note receivable	0	79
Capital expenditures accrued but not paid at period-end	199	331
Accrued Series B-2 Convertible Preferred Stock dividends	31	31
Non-cash issuance of note payable	$ 0	$ 1,435

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) $ in Thousands	1 Months Ended
	Feb. 28, 2018 USD ($)	Dec. 31, 2017 USD ($)	Feb. 28, 2013 a
Centennial Property
Conversion of Stock [Line Items]
Real estate development held for sale		$ 3,250
Proceeds from sale of real estate held-for-investment		179
Proceeds from issuance of debt		$ 3,000
East Areas II
Conversion of Stock [Line Items]
Area of real estate property \| a			7
Real estate investment property, net	$ 3,145
Payments to acquire and develop real estate	1,444
Notes payable	$ 1,435

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Jul. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Business Limoneira Company (together with its consolidated subsidiaries, the “Company”) engages primarily in growing citrus and avocados, picking and hauling citrus, and packing, marketing and selling lemons. The Company is also engaged in residential rentals and other rental operations and real estate development activities. The Company markets and sells lemons directly to food service, wholesale and retail customers throughout the United States, Canada, Asia, Europe and other international markets. The Company is a member of Sunkist Growers, Inc. (“Sunkist”), an agricultural marketing cooperative, and sells its oranges, specialty citrus and other crops to Sunkist-licensed and other third-party packinghouses. The Company sells all of its avocado production to Calavo Growers, Inc. (“Calavo”), a packing and marketing company listed on the NASDAQ Global Select Market under the symbol CVGW. Calavo’s customers include many of the largest retail and food service companies in the United States and Canada. The Company’s avocados are packed by Calavo, which are then sold and distributed under Calavo brands to its customers. Basis of Presentation and Preparation The accompanying unaudited interim consolidated financial statements include the accounts of the Company and the accounts of all the subsidiaries and investments in which a controlling interest is held by the Company. Intercompany accounts and transactions have been eliminated. In the opinion of the Company, the unaudited interim consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these unaudited interim consolidated financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain information and footnote disclosures normally included in the annual consolidated financial statements have been condensed or omitted pursuant to the rules and regulations of the SEC. Because the consolidated financial statements do not include all of the information and notes required by GAAP for a complete set of consolidated financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K.

Summary of Significant Accounting Policies

9 Months Ended

Jul. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Revenue Recognition

On November 1, 2018, the Company adopted Financial Accounting Standards Board (“FASB”) – Accounting Standards Update (“ASU”) ASU 2014-09, Revenue from Contracts with Customers (Topic 606), that amends the guidance for the recognition of revenue from contracts with customers. The results for the reporting period beginning after November 1, 2018 are presented in accordance with the new standard which was adopted using the modified-retrospective method and applied to those contracts that were not completed as of November 1, 2018. There was no net effect of applying the standard and therefore no cumulative adjustment to retained earnings was necessary at the date of initial application.

As a result comparative information has not been restated and the results for the reporting periods before November 1, 2018 continue to be reported under the accounting standards and policies in effect for those periods.

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps:


•	Identify the contract(s) with a customer.


•	Identify the performance obligations in the contract.


•	Determine the transaction price.


•	Allocate the transaction price to the performance obligations in the contract.


•	Recognize revenue when (or as) the entity satisfies a performance obligation.

The Company determined the appropriate method by which it recognizes revenue by analyzing the nature of the products or services being provided as well as the terms and conditions of contracts or arrangements entered into with its customers. The Company accounts

2. Summary of Significant Accounting Policies (continued)

Revenue Recognition (continued)

for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. A contract's transaction price is allocated to each distinct good or service (i.e., performance obligation) identified in the contract and each performance obligation is valued based on its estimated relative standalone selling price.

The Company recognizes the majority of its revenue at a point in time when it satisfies a performance obligation and transfers control of the product to the respective customer. The amount of revenue that is recognized is based on the transaction price, which represents the invoiced amount and includes estimates of variable consideration such as allowances for estimated customer discounts or concessions, where applicable. The amount of variable consideration included in the transaction price may be constrained and is included only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized under the contract will not occur in a future period.

Upon adoption, the Company changed the accounting of certain brokered fruit sales. Under previous guidance, the Company was considered an agent and recorded revenues for certain brokered fruit sales and the costs of such fruit on a net basis in its consolidated statement of operations. Under the new revenue recognition standard, the Company is considered a principal in the transaction and revenues are recorded on a gross basis in the Company’s consolidated statement of operations with the related cost of such fruit included in agribusiness costs and expenses. This change resulted in the recognition of additional agribusiness revenue and agribusiness costs and expenses of $1,781,000, respectively, during the three months ended July 31, 2019 and $2,201,000, respectively, during the nine months ended July 31, 2019. Had it used the previous revenue recognition guidance, the Company would have recorded insignificant net agribusiness revenue for the three and nine months ended July 31, 2019. No cumulative adjustment to retained earnings was necessary as there is no net effect of applying the standard.

Agribusiness revenue - Revenue from lemon sales is generally recognized at a point in time when the customer takes control of the fruit from the Company’s packinghouse, which aligns with the transfer of title to the customer. The Company has elected to treat any shipping and handling costs incurred after control of the goods has been transferred to the customer as agribusiness costs.

The Company’s avocados, oranges, specialty citrus and other specialty crops are packed and sold by Calavo and other third-party packinghouses. The Company delivers all of its avocado production from its orchards to Calavo. These avocados are then packed by Calavo at its packinghouse and sold and distributed under Calavo brands to its customers primarily in the United States and Canada. The Company’s arrangements with other third-party packinghouses related to its oranges, specialty citrus and other specialty crops are similar to its arrangement with Calavo. The Company’s arrangements with its third-party packinghouses are such that the Company is the producer and supplier of the product and the third-party packinghouses are the Company’s customers.

The revenues the Company recognizes related to the fruits sold to the third-party packinghouses are based on the volume and quality of the fruits delivered, the market price for such fruit, less the packinghouses’ charges to pack and market the fruit. Such packinghouse charges include the grading, sizing, packing, cooling, ripening and marketing of the related fruit. The Company controls the product until it is delivered to the third-party packinghouses at which time control of the product is transferred to the third-party packinghouses and revenue is recognized. Such third-party packinghouse charges are recorded as a reduction of revenue as they are not for distinct services. The identifiable benefit the Company receives from the third-party packinghouses for packaging and marketing services cannot be sufficiently separated from the third-party packinghouses’ purchase of the Company’s products. In addition, the Company is not able to reasonably estimate the fair value of the benefit received from the third-party packinghouses for such services and as such, these costs are characterized as a reduction of revenue in the Company’s consolidated statements of operations.

Revenue from the sales of certain of the Company’s agricultural products is recorded based on estimated proceeds provided by certain of the Company’s sales and marketing partners (Calavo and other third-party packinghouses) due to the time between when the product is delivered by the Company and the closing of the pools for such fruits at the end of each month or harvest period. Calavo and other third-party packinghouses are agricultural cooperatives or function in a similar manner as an agricultural cooperative. The Company

estimates the variable consideration using the most likely amount method, with the most likely amount being the quantities actually shipped extended by the prices reported by Calavo and other third-party packinghouses. Revenue is recognized at time of delivery to

the packinghouses relating to fruits that are in pools that have not yet closed at month end if: (a) the related fruits have been delivered

to and accepted by Calavo and other third-party packinghouses (i.e., Calavo and other third-party packinghouses obtain control) and

(b) sales price information has been provided by Calavo and other third-party packinghouses (based on the marketplace activity for

2. Summary of Significant Accounting Policies (continued)

Revenue Recognition (continued)

the related fruit) to estimate with reasonable certainty the final selling price for the fruit upon the closing of the pools. In such instances the Company has the present right to payment and Calavo and other third-party packinghouses have the present right to direct the use of, and obtain substantially all of the remaining benefits from, the delivered fruit. The Company does not expect that there is a high likelihood that a significant reversal in the amount of cumulative revenue recognized in the early periods of the pool will occur once the final pool prices have been reported by the packinghouses. Historically, the revenue that is recorded based on the sales price information provided to the Company by Calavo and other third-party packinghouses at the time of delivery, have not materially differed from the actual amounts that are paid after the monthly or harvest period pools are closed.

The Company has entered into brokerage arrangements with third-party international packinghouses. In certain of these arrangements, the Company has the exclusive ability to direct the use of and obtains substantially all of the remaining benefits from the fruit, and therefore is acting as a principal. As such, the Company records the related revenue and costs of the fruit gross in the consolidated statement of operations.

Revenue from crop insurance proceeds is recorded when the amount can be reasonably determined and upon establishment of the present right to payment.

Rental Revenue - Minimum rental revenues are generally recognized on a straight-line basis over the respective initial lease term. Contingent rental revenues are contractually defined as to the percentage of rent received by the Company and are based on fees collected by the lessee. Such revenues are recognized when actual results, based on collected fees reported by the tenant, are received. The Company's rental arrangements generally require payment on a monthly or quarterly basis.

Real Estate Development Revenue - The Company recognizes revenue on real estate development projects with customers at a point in time (i.e., the closing) when the Company satisfies the single performance obligation and transfers control of such real estate to a buyer. The transaction price, which is the amount of consideration the Company receives upon delivery of the completed real estate to the buyer, is allocated to this single obligation and is received at closing. Real estate development projects with non-customers are accounted for in accordance with Accounting Standards Code (“ASC”) 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets.

Recent Accounting Pronouncements

FASB ASU 2016-01, Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities

The amendments in ASU 2016-01, among other things, require equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. Requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. Requires separate presentation of financial assets and financial liabilities by measurement category and form of financial assets (i.e., securities or loans and receivables). Eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate fair value that is required to be disclosed for financial instruments measured at amortized cost.

ASU 2016-01 is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company’s adoption of this ASU on November 1, 2018 resulted in a cumulative-effect adjustment to the statement of financial position, with the Company reclassifying unrealized holding gains of $15,921,000, net of taxes, in Calavo common stock to retained earnings from accumulated other comprehensive income ("AOCI") at the date of adoption. In addition, the change in the fair value of Calavo common stock has been disclosed as a separate line item in the statement of operations subsequent to the adoption of ASU 2016-01.

FASB ASU 2016-02, Leases (Topic 842) and related ASUs, including ASU 2018-11, Leases (Topic 842): Targeted Improvements

Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date:

2. Summary of Significant Accounting Policies (continued)

Recent Accounting Pronouncements (continued)


•	A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and


•	A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term.

Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing.

ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. ASU 2018-11 provides entities with an additional (and optional) transition method to adopt the new leases standard. Under this new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company plans to use the optional transition method when it adopts the ASUs beginning in the first quarter of its fiscal year ending October 31, 2020. The Company is evaluating the effect these ASUs may have on its consolidated financial statements, however it expects to apply the practical expedients provided in the ASUs. Note 20 – Commitments and Contingencies of the notes to consolidated financial statements included in the Company's 2018 Annual Report on Form 10-K describes its operating lease arrangements as of October 31, 2018.

FASB ASU No. 2017-04 -Intangibles -Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

This amendment eliminates Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary.

ASU 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted. The Company early adopted the standard as of May 1, 2019 and followed this guidance during its annual impairment testing performed during the third quarter. The adoption did not have an impact on its financial position, results of operations, or cash flows.

FASB ASU 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

The amendment requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. If a separate line item or items are used to present the other components of net benefit cost, that line item or items must be appropriately described. If a separate line item or items are not used, the line item or items used in the income statement to present the other components of net benefit cost must be disclosed.

The amendment is effective for public business entities for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The Company’s adoption of this ASU during the first quarter of fiscal year 2019 had no material impact on its consolidated financial statements.

FASB ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

2. Summary of Significant Accounting Policies (continued)

Recent Accounting Pronouncements (continued)

This amendment provides financial statement preparers with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act of 2017 (the "2017 Act") (or portion thereof) is recorded.

The amendment is effective for all organizations for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. Organizations should apply the proposed amendment either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the 2017 Act is recognized. The Company early adopted this ASU on November 1, 2018, and as a result recorded a cumulative-effect reclassification in the statement of financial position to retained earnings from AOCI at the date of adoption of $1,724,000 related to the investment in Calavo and pension liability.

FASB ASU 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans

This amendment adds, removes and clarifies the disclosure requirements for employers that sponsor defined benefit pension or other post retirement plans. For public business entities, the amendments are effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company is evaluating the effect this ASU may have on its consolidated financial statements.

SEC Amendments to Certain Disclosure Requirements

In August 2018, the SEC adopted amendments to certain disclosure requirements for a number of SEC rules, including Rule 3-04 of Regulation S-X. Rule 3-04 requires that a public registrant’s Form 10-Q include a reconciliation of changes in stockholders’ equity for each period for which a statement of comprehensive income is required to be filed. These amendments are effective for interim periods beginning after November 5, 2018, therefore the Company has included a separate statement of stockholders’ equity and temporary equity in this Quarterly Report on Form 10-Q.

Acquisitions

9 Months Ended

Jul. 31, 2019

Business Combinations [Abstract]

Acquisitions

Agriculture Property Acquisition

In January 2019, the Company purchased land for use as a citrus orchard for a cash purchase price of $397,000. The acquisition was for 26 acres of agricultural property adjacent to the Company’s orchards in Lindsay, California. This agriculture property acquisition is included in property, plant and equipment on the Company’s consolidated balance sheet.

San Pablo

On July 18, 2018, the Company completed the acquisition of Agricola San Pablo S.A. (“San Pablo”) ranch and related assets in La Serena, Chile, for $13,000,000. The San Pablo ranch consists of 3,317 acres on two parcels, including 247 acres producing lemons, 61 acres producing oranges, the opportunity to immediately plant 120 acres for lemon production, as well as the potential for approximately 500 acres of avocado production. This acquisition was accounted for as an asset purchase and is included in property, plant and equipment in the Company’s consolidated balance sheet. In addition, transaction costs of $111,000 were capitalized as part of total acquisition costs.

Below is a summary of the fair value of the net assets acquired on the acquisition date based on a third-party valuation (in thousands):



Cultural costs	$	579
Land and land improvements	9,114
Buildings and equipment	207
Orchards	2,058
Water rights	1,153
Total assets acquired	$	13,111

3. Acquisitions (continued)

Agriculture Property Acquisition (continued)

The unaudited, pro forma consolidated statement of operations as if San Pablo had been included in the consolidated results of the Company for the year ended October 31, 2018 would have resulted in revenues of $130,262,000 and net income of $18,785,000.

Business Combinations

Trapani Fresh

On May 30, 2019, the Company acquired a 51% interest in a joint venture, Trapani Fresh, formed with FGF Trapani (“FGF”), a multi-generational, family owned citrus operation in Argentina. To consummate the transaction, the Company formed a subsidiary under the name Limoneira Argentina S.A.U. (“Limoneira Argentina”) as the managing partner and acquired a 51% interest in an Argentine Trust that holds a 75% interest in Finca Santa Clara (“Santa Clara”), a ranch with approximately 1,200 acres of planted lemons. Trapani Fresh controls the trust and grows, packs, markets and sells fresh citrus.

Total consideration paid for the Company’s interest in Trapani Fresh was $15,000,000 of which $7,500,000 was paid to FGF on May 30, 2019. The remaining $7,500,000 was advanced to FGF, $4,000,000 in February 2019 and $3,500,000 in May 2019, as prepayments for the 25% interest in Santa Clara retained by FGF. Transaction costs of approximately $548,000 were included in selling, general and administrative expense. The Company has consolidated Trapani Fresh and has accounted for the acquisition of Trapani Fresh as a business combination, resulting in FGF’s 49% interest in Trapani Fresh being accounted for as a non-controlling interest.

Below is a summary of the preliminary fair value of the net assets acquired on the acquisition date based on a third-party valuation (in thousands):



Cultural costs	$	3,270
Land and land improvements	9,520
Buildings and improvements	870
Orchards	8,410
Customer relationships, trademarks and non-competition agreement (10 year useful life)	6,380
Goodwill	960
Total assets acquired	29,410
Noncontrolling interest	(14,410		)
Net cash paid	$	15,000

Preliminary goodwill of $960,000 relates to synergies of the operations, has been allocated to the fresh lemons segment and is currently not expected to be deductible for tax purposes. Revenue of $11,685,000 and net income of $1,203,000 of Trapani Fresh are included in the Company’s consolidated statement of operations from the acquisition date to the period ended July 31, 2019. The unaudited, pro forma consolidated statement of operations as if Trapani Fresh had been included in the consolidated results of the Company for the entire nine months ended July 31, 2019 would have resulted in revenues of $141,149,000 and net loss of $2,705,000.

Oxnard Lemon

On July 24, 2018, the Company and Oxnard Lemon Associates, Ltd., a California limited partnership (“Seller”), entered into an Asset Purchase Agreement (the “Purchase Agreement”). Pursuant to the Purchase Agreement, on July 26, 2018 (the “Initial Closing Date”), the Company acquired certain tangible assets of Seller, including a packinghouse and related land (“Oxnard Lemon”), for a purchase price of $24,750,000 (the “Initial Acquisition”). Pursuant to the Purchase Agreement, the closing on the purchase and sale of the intangible assets of Seller, including Seller’s trade names, trademarks and copyrights, took place on October 31, 2018 (the “Final Closing Date”), at which point an additional $250,000 in purchase price was paid to Seller by the Company. The aggregate purchase price for the tangible assets and the intangible assets provided in the Purchase Agreement was $25,000,000. Additionally, the Purchase

3. Acquisitions (continued)

Business Combinations (continued)

Agreement provided that Seller lease back the tangible assets from the Company until the Final Closing Date, pursuant to a lease executed on the Initial Closing Date. Transaction costs of $142,000 were included in selling, general and administrative expense.

Below is a summary of the fair value of the net assets acquired on the acquisition date based on a third-party valuation (in thousands):



Land and land improvements	$	7,294
Buildings and equipment	14,866
Customer relationships and trade names	2,270
Goodwill	570
Total assets acquired	$	25,000

The unaudited, pro forma consolidated statement of operations as if Oxnard Lemon had been included in the consolidated results of the Company for the year ended October 31, 2018 would have resulted in revenues of $142,253,000 and net income of $19,728,000.

Fair Value Measurements

9 Months Ended

Jul. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

Under the FASB ASC 820, Fair Value Measurement and Disclosures, a fair value measurement is determined based on the assumptions that a market participant would use in pricing an asset or liability. A three-tiered hierarchy draws distinctions between market participant assumptions based on (i) observable inputs such as quoted prices in active markets (Level 1), (ii) inputs other than quoted prices in active markets that are observable either directly or indirectly (Level 2) and (iii) unobservable inputs that require the Company to use present value and other valuation techniques in the determination of fair value (Level 3).

The following table sets forth the Company’s financial assets and liabilities as of July 31, 2019 and October 31, 2018, which are measured on a recurring basis during the period, segregated by level within the fair value hierarchy (in thousands):



July 31, 2019	Level 1		Level 2		Level 3		Total
Assets at fair value:
Equity securities	$	21,226	$	—	$	—	$	21,226



October 31, 2018	Level 1		Level 2		Level 3		Total
Assets at fair value:
Equity securities	$	24,250	$	—	$	—	$	24,250

Equity securities consist of marketable securities in Calavo common stock. At July 31, 2019 and October 31, 2018, the Company owned 240,000 and 250,000 shares, respectively, representing approximately 1.4% of Calavo’s outstanding common stock. These securities are measured at fair value by quoted market prices and changes in fair value are included in the statement of operations subsequent to the adoption of ASU 2016-01.

In July 2019, the Company sold 10,000 shares of Calavo common stock for a total of $952,000 recognizing a loss of $6,000. This loss is included in other (expense) income in the consolidated statement of operations. With the adoption of FASB ASU 2016-01 on November 1, 2018, changes in the fair value of the marketable securities result in gains or losses recognized in net income. The Company recorded an unrealized (loss)/gain of $(1,769,000) and $(2,067,000) during the three and nine months ended July 31, 2019, respectively, which is included in other (expense) income in the consolidated statements of operations. The Company recorded unrealized holding (losses)/gains of $(360,000) (($255,000) net of tax) and $5,640,000 ($3,987,000 net of tax), during the three and nine months ended July 31, 2018, which were included in AOCI in the consolidated balance sheet.

Calavo’s stock price at July 31, 2019 and October 31, 2018 was $88.44 and $97.00 per share, respectively. Prior to the adoption of ASU 2016-01, these equity securities were classified as available-for-sale securities and changes in fair value were recorded in AOCI net of tax.

- Definition

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

+ References + Details

Concentrations	9 Months Ended
Concentrations	Jul. 31, 2019
Risks and Uncertainties [Abstract]
Concentrations	Concentrations Lemons procured from third-party growers were 59% and 35% of the Company's lemon supply in the three months ended July 31, 2019 and 2018, respectively. Lemons procured from third-party growers were 59% and 44% of the Company's lemon supply in the nine months ended July 31, 2019 and 2018, respectively. The Company sells all of its avocado production to Calavo and the majority of its oranges and specialty citrus to a third-party packinghouse.

Prepaid Expenses and Other Current Assets

9 Months Ended

Jul. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):



	July 31, 2019		October 31, 2018
Prepaid insurance	$	515	$	647
Prepaid supplies	2,093		1,196
Lemon supplier advances	3,438		170
Note receivable, net	2,599		2,797
Real estate development held for sale	5,024		5,024
Commercial property held for sale	3,295		—
Water assessment fees and other	1,519		694
	$	18,483	$	10,528

In the third quarter of fiscal year 2019, the Company entered into an agreement to sell a commercial property, located in Santa Paula, California, to one of its rental tenants for $4,000,000. The transaction closed on August 30, 2019 with the Company receiving net proceeds of $3,978,000. After transaction and other costs, the sale resulted in a gain of $586,000. At July 31, 2019, the $3,295,000 carrying value of the property was classified as held for sale.

Real Estate Development

9 Months Ended

Jul. 31, 2019

Real Estate [Abstract]

Real Estate Development

Real estate development assets are comprised primarily of land and land development costs and consist of the following (in thousands):



	July 31, 2019		October 31, 2018
East Area I	$	—	$	91,357
Retained Property - East Area I	10,777		10,408
East Area II	5,601		5,397
	$	16,378	$	107,162

East Area I, Retained Property and East Area II

In fiscal year 2005, the Company began capitalizing the costs of two real estate development projects east of Santa Paula, California, for the development of 550 acres of land into residential units, commercial buildings and civic facilities. On November 10, 2015 (the “Transaction Date”), the Company entered into a joint venture with The Lewis Group of Companies (“Lewis”) for the residential development of its East Area I real estate development project. To consummate the transaction, the Company formed Limoneira Lewis Community Builders, LLC (the “LLC” or “Joint Venture”) as the development entity, contributed its East Area I property to the LLC and sold a 50% interest in the LLC to Lewis for $20,000,000.

The Company and the Joint Venture also entered into a Retained Property Development Agreement on the Transaction Date (the "Retained Property Agreement"). Under the terms of the Retained Property Agreement, the Joint Venture transferred certain contributed East Area I property, which is entitled for commercial development, back to the Company (the "Retained Property") and arranged for the design and construction of certain improvements to the Retained Property, subject to certain reimbursements by the Company. In August 2018, the Retained Property, was transferred back to the Company. The net carrying value of the Retained Property as of July 31, 2019 and October 31, 2018 was $10,777,000 and $10,408,000, respectively, and classified as real estate development. Further, on the Transaction Date, the Joint Venture and the Company entered into a Lease Agreement (the "Lease Agreement"), pursuant to which the Joint Venture would lease certain of the contributed East Area I property back to the Company for continuation of agricultural operations, and certain other permitted uses, on the property until the Joint Venture required the property for development. In December 2018, the Company terminated the Lease Agreement pursuant to the terms therein.

7. Real Estate Development (continued)

East Area I, Retained Property and East Area II (continued)

The Company’s sale of an interest in the LLC in which the Company’s contributed property comprises the LLC’s primary asset, combined with the Lease Agreement was considered a sale-leaseback transaction under FASB ASC 840, Leases, because of the Company’s continuing involvement in the property in the form of its agricultural operations. Accordingly, the property was carried on the consolidated balance sheet as real estate development, rather than being classified as an equity investment and a sale-leaseback deferral had been recorded for the $20,000,000 payment made by Lewis for the purchase of the LLC interest. Lease expense associated with the Lease Agreement was not required under sale-leaseback accounting since the Company was treated as though it continued to own the property. During the three and nine months ended July 31, 2018, the Company recorded $5,306,000 and $13,731,000, respectively, of real estate development costs and corresponding increases in the sale-leaseback deferral to recognize real estate development costs capitalized by the LLC. There were no repayment requirements for the sale-leaseback deferral. When the Lease Agreement was terminated in December 2018 control of the property transferred to the Joint Venture and therefore, the Company reduced the sale leaseback deferral and corresponding real estate development by $58,330,000 and reclassified $33,353,000 to equity in investments upon derecognition of the real estate development. As the fair value of the Company’s ownership interest in the Joint Venture approximated the Company’s historical basis in the real estate development at the inception of the Joint Venture, no gain or loss was recorded.

The Company made contributions to the Joint Venture of $4,000,000 and $3,500,000 in the nine months ended July 31, 2019 and 2018, respectively. Additionally, the Company recorded equity income, net of amortization of basis differences, of $2,573,000 for the nine months ended July 31, 2019.

In fiscal year 2019, the Company announced that its Joint Venture closed the sales of the initial residential lots representing 210 residential units.

Templeton Santa Barbara, LLC

The real estate development parcels within the Templeton Santa Barbara, LLC project are described as The Terraces at Pacific Crest (“Pacific Crest”), and Sevilla. The net carrying values of Pacific Crest and Sevilla were $2,481,000 and $2,543,000, respectively, as of July 31, 2019 and October 31, 2018. These projects were idle during the nine months ended July 31, 2019 and 2018 and, as such, no costs were capitalized and expenses were insignificant.

In October 2018, the Company began negotiations to sell its Pacific Crest and Sevilla properties for a combined total price of $5,200,000. As a result, the Company recorded impairment charges on Pacific Crest and Sevilla of $769,000 and $789,000, respectively, in October 2018. These negotiations have not resulted in a sale and the Company is actively marketing these properties. At July 31, 2019 and October 31, 2018, the $2,481,000 carrying value of Pacific Crest and the $2,543,000 carrying value of Sevilla were classified as held for sale and included in prepaid expenses and other current assets.

Equity in Investments

9 Months Ended

Jul. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Equity in Investments

Equity Investments

Equity investments consist of the following (in thousands):



	July 31, 2019		October 31, 2018
Limoneira Lewis Community Builders, LLC	$	53,719	$	14,060
Limco Del Mar, Ltd.	1,955		1,935
Rosales	1,591		2,191
Romney Property Partnership	510		512
	$	57,775	$	18,698

The Rosales S.A. ("Rosales") equity investment includes the Company’s 35% interest acquired in fiscal year 2014 and an additional 12% interest acquired with the purchase of Fruticola Pan de Azucar S.A. (“PDA”) in fiscal year 2017. The Company’s investment in Rosales is accounted for using the equity method of accounting based on the sum of its direct and indirect ownership.

The Limoneira Lewis Community Builders, LLC investment balance includes the value of the Company's ownership interest in the Joint Venture as described in Note 7 - Real Estate Development.

8. Equity Investments (continued)

Unconsolidated Significant Subsidiary

The LLC investment balance includes the value of the Company's ownership interest in the LLC. In accordance with Rule 10-01(b)(1) of Regulation S-X, which applies for interim reports on Form 10-Q, the Company must determine if its equity method investees are considered, “significant subsidiaries”. In evaluating its investments, there are two tests utilized to determine if equity method investees are considered significant subsidiaries: the income test and the investment test. Summarized income statement information of an equity method investee is required in an interim report if either of the two tests exceed 20%. During the current year-to-date interim period, this threshold was met for the LLC and thus requires summarized income statement information in this Quarterly Report on Form 10-Q.

The following is unaudited summarized financial information for the LLC (in thousands):



	Nine Months Ended July 31,
	2019		2018
Revenues	$	36,551	$	—
Cost of land sold	26,770		—
Operating expenses	444		233
Net income (loss)	$	9,336	$	(233	)
Net income attributable to Limoneira Company	$	4,021	$	—

Other Assets

9 Months Ended

Jul. 31, 2019

Other Assets [Abstract]

Other Assets

Other assets consist of the following (in thousands):



	July 31, 2019		October 31, 2018
Investments in mutual water companies	$	5,498	$	5,026
Acquired water and mineral rights	3,784		3,783
Deposit for land purchase	589		593
Deferred lease assets and other	323		396
Notes receivable	821		566
Revolving funds and memberships	240		267
Intangibles, net of accumulated amortization	8,458		2,442
Goodwill	2,391		1,431
	$	22,104	$	14,504

Accrued Liabilities

9 Months Ended

Jul. 31, 2019

Accounts Payable and Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):



	July 31, 2019		October 31, 2018
Compensation	$	2,109	$	2,784
Property taxes	205		785
Interest	403		297
Deferred rental income and deposits	473		497
Lease expense	92		378
Lemon supplier payables	—		1,214
Other	991		1,769
	$	4,273	$	7,724

Long-Term Debt

9 Months Ended

Jul. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt is comprised of the following (in thousands):



	July 31, 2019		October 31, 2018
Farm Credit West revolving and non-revolving lines of credit: the interest rate of the revolving line of credit is variable based on the one-month London Interbank Offered Rate (“LIBOR”), which was 2.40% at July 31, 2019, plus 1.85%. Effective July 1, 2018, the interest rate for the $40,000,000 outstanding balance of the non-revolving line of credit was fixed at 4.77%. Interest is payable monthly and the principal is due in full on July 1, 2022.	$	85,378	$	50,888
Farm Credit West term loan: the interest rate is variable and was 4.95% at July 31, 2019. The loan is payable in quarterly installments through November 2022.	2,179		2,602
Farm Credit West term loan: the interest rate is variable and was 4.95% at July 31, 2019. The loan is payable in monthly installments through October 2035.	1,090		1,122
Farm Credit West term loan: the interest rate is fixed at 4.70%. The loan is payable in monthly installments though March 2036.	8,912		9,172
Farm Credit West term loan: the interest rate is fixed at 3.62% until March 2021, becoming variable for the remainder of the loan. The loan is payable in monthly installments though March 2036.	6,594		6,808
Wells Fargo term loan: the interest rate is fixed at 3.58%. The loan is payable in monthly installments through January 2023.	5,312		6,367
Banco de Chile term loan: the interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	1,512		1,857
Note Payable: the interest rate ranges from 5.00% to 7.00% and was 5.50% at July 31, 2019. The loan includes interest-only monthly payments and principal is due in February 2023.	1,435		1,435
Subtotal	112,412		80,251
Less deferred financing costs, net of accumulated amortization	135		158
Total long-term debt, net	112,277		80,093
Less current portion	3,024		3,127
Long-term debt, less current portion	$	109,253	$	76,966

On June 20, 2017, the Company entered into a Master Loan Agreement (the “Loan Agreement”) with Farm Credit West, FLCA (“Farm Credit West”) that includes a Revolving Credit Supplement and a Non-Revolving Credit Supplement (the “Supplements”). Proceeds from the Supplements were used to pay down all the remaining outstanding indebtedness under the revolving credit facility the Company had with Rabobank, N.A. On January 29, 2018, the Company amended the Revolving Credit Supplement to increase the borrowing capacity from $60,000,000 to $75,000,000. The Supplements provide aggregate borrowing capacity of $115,000,000 comprised of $75,000,000 under the Revolving Credit Supplement and $40,000,000 under the Non-Revolving Credit Supplement. The borrowing capacity based on collateral value was $115,000,000 at July 31, 2019.

All indebtedness under the Loan Agreements, including any indebtedness under the Supplements, is secured by a first lien on certain of the Company’s agricultural properties in Tulare and Ventura counties in California and certain of the Company’s building fixtures and improvements and investments in mutual water companies associated with the pledged agricultural properties. The Loan Agreement includes customary default provisions that provide should an event of default occur, Farm Credit West, at its option, may declare all or any portion of the indebtedness under the Loan Agreement to be immediately due and payable without demand, notice of non-payment, protest or prior recourse to collateral, and terminate or suspend the Company’s right to draw or request funds on any loan or line of credit.

Interest is capitalized on non-bearing orchards, real estate development projects and significant construction in progress. The Company capitalized interest of $366,000 and $688,000 during the three months ended July 31, 2019 and 2018, respectively, and $977,000 and $1,637,000 during the nine months ended July 31, 2019 and 2018, respectively. Capitalized interest is included in property, plant and equipment and real estate development in the Company’s consolidated balance sheets.

Basic and Diluted Net (Loss) Income per Share

9 Months Ended

Jul. 31, 2019

Earnings Per Share [Abstract]

Basic and Diluted Net (Loss) Income per Share

Basic net (loss) income per common share is calculated using the weighted-average number of common shares outstanding during the period without consideration of the dilutive effect of conversion of preferred stock. Diluted net (loss) income per common share is calculated using the weighted-average number of common shares outstanding during the period plus the dilutive effect of conversion of unvested, restricted stock and preferred stock. The computations for basic and diluted net (loss) income per common share are as follows (in thousands, except per share amounts):



	Three Months Ended July 31,						Nine Months Ended July 31,
	2019			2018			2019			2018
Basic net (loss) income per common share:
Net (loss) income applicable to common stock	$	(1,115	)	$	8,076		$	(3,244	)	$	23,049
Effect of unvested, restricted stock	(16		)	(10		)	(49		)	(29		)
Numerator: Net (loss) income for basic EPS	(1,131		)	8,066			(3,293		)	23,020
Denominator: Weighted average common shares-basic	17,554			15,947			17,527			14,979
Basic net (loss) income per common share	$	(0.06	)	$	0.51		$	(0.19	)	$	1.54



Diluted net (loss) income per common share:
Numerator: Net (loss) income for diluted EPS	$	(1,131	)	$	8,201	$	(3,293	)	$	23,425
Weighted average common shares–basic	17,554			15,947		17,527			14,979
Effect of dilutive unvested, restricted stock and preferred stock	—			604		—			599
Denominator: Weighted average common shares–diluted	17,554			16,551		17,527			15,578
Diluted net (loss) income per common share	$	(0.06	)	$	0.50	$	(0.19	)	$	1.50

Diluted (losses) earnings per common share are computed using the more dilutive method of either the two-class method or the treasury stock method. Unvested stock-based compensation awards that contain non-forfeitable rights to dividends as participating shares are included in computing earnings per share. The Company’s unvested, restricted stock awards qualify as participating shares. The Company excluded 149,000 and 76,000, unvested, restricted shares, as calculated under the treasury stock method, from its computation of diluted (losses) earnings per share for the three months ended July 31, 2019 and 2018, respectively, and 135,000 and 81,000 for the nine months ended July 31, 2019 and 2018, respectively.

Related-Party Transactions	9 Months Ended
Related-Party Transactions	Jul. 31, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions The Company rents certain of its residential housing assets to employees on a month-to-month basis. The Company recorded $550,000 and $530,000 of rental revenue from employees in the nine months ended July 31, 2019 and 2018, respectively. There were no rental payments due from employees at July 31, 2019 or October 31, 2018. The Company has representation on the boards of directors of the mutual water companies in which the Company has investments. The Company recorded capital contributions and purchased water and water delivery services from such mutual water companies, in aggregate, of $207,000 and $211,000 in the three months ended July 31, 2019 and 2018, respectively, and $1,065,000 and $1,097,000 in the nine months ended July 31, 2019 and 2018, respectively. Capital contributions are included in other assets in the Company’s consolidated balance sheets and purchases of water and water delivery services are included in agribusiness expense in the Company’s consolidated statements of operations. Water payments due to the mutual water companies were, in aggregate, insignificant at July 31, 2019 and October 31, 2018, respectively. The Company has representation on the board of directors of a non-profit cooperative association that provides pest control services for the agricultural industry. The Company purchased services and supplies of $302,000 and $396,000 from the association in the three months ended July 31, 2019 and 2018, respectively, and $1,158,000 and $1,211,000 in the nine months ended July 31, 2019 and 2018, respectively, which are included in agribusiness expense in the Company’s consolidated statements of operations. Payments due to the cooperative were insignificant at July 31, 2019 and October 31, 2018. 13. Related-Party Transactions (continued) The Company has an investment in and representation on the board of directors of Calavo and Calavo has an investment in and had representation on the board of directors of the Company through December 2018. The Company recorded dividend income of $250,000 and $285,000 in the nine months ended July 31, 2019 and 2018, respectively, on its investment in Calavo, which is included in other income (expense), net in the Company’s consolidated statements of operations. The Company paid $381,000 and $324,000 of dividends to Calavo for the nine months ended July 31, 2019 and 2018, respectively. The Company had $2,519,000 and $5,643,000 in avocado sales to Calavo for the three months ended July 31, 2019 and 2018, respectively, and $3,062,000 and $6,578,000 for the nine months ended July 31, 2019 and 2018, respectively. which are included in agribusiness revenues in the Company's consolidated statements of operations. There was $729,000 and zero receivable from Calavo at July 31, 2019 and October 31, 2018, respectively. The Company leases office space to Calavo and received rental income of $240,000 and $219,000 in the nine months ended July 31, 2019 and 2018, respectively, which is included in rental operations revenues in the Company’s consolidated statements of operations. The Company purchased $261,000 and $57,000 of storage services from Calavo in the three months ended July 31, 2019 and 2018, respectively. The Company purchased $262,000 and $61,000 of storage services from Calavo in the nine months ended July 31, 2019 and 2018, respectively. Amounts due for these services were $260,000 and $3,000 at July 31, 2019 and October 31, 2018, respectively. Certain members of the Company’s board of directors market lemons through the Company. The aggregate amount of lemons procured from entities owned or controlled by members of the board of directors was insignificant and $329,000 in the three months ended July 31, 2019 and 2018, respectively, and $386,000 and $1,715,000 in the nine months ended July 31, 2019 and 2018, respectively, which are included in agribusiness expense in the Company’s consolidated statements of operations. Payments due to these board members were insignificant and $487,000 at July 31, 2019 and October 31, 2018, respectively. Additionally, the Company leases approximately 31 acres of orchards from entities affiliated with a member on the board of directors and incurred insignificant lease expense related to these leases in the nine months ended July 31, 2019 and 2018. On July 1, 2013, the Company and Cadiz Real Estate LLC (“Cadiz”), a wholly-owned subsidiary of Cadiz Inc., entered into a long-term lease agreement (the “Lease”) for a minimum of 320 acres, with options to lease up to an additional 960 acres, located within 9,600 zoned agricultural acres owned by Cadiz in eastern San Bernardino County, California. The initial term of the Lease runs for 20 years and the annual base rental rate is equal to the sum of $200 per planted acre and 20% of gross revenues from the sale of harvested lemons (less operating expenses) not to exceed $1,200 per acre per year. A member of the Company’s board of directors serves as the CEO, President and a member of the board of directors of Cadiz Inc. Additionally, this board member is an attorney with a law firm that provided services of insignificant amounts to the Company during the nine months ended July 31, 2019 and 2018. Payments due to the law firm were insignificant at July 31, 2019 and October 31, 2018, respectively. The Company incurred insignificant lease and farming expenses in the nine months ended July 31, 2019 and 2018, which are recorded in agribusiness expense in the Company’s consolidated statements of operations. In February 2016, Cadiz assigned this lease to Fenner Valley Farms, LLC (“Fenner”), a subsidiary of Water Asset Management, LLC (“WAM”). An entity affiliated with WAM is the holder of 9,300 shares of Limoneira Company Series B-2 convertible preferred stock. Amounts due to Fenner were insignificant at July 31, 2019 and October 31, 2018. The Company has representation on the board of directors of Colorado River Growers, Inc. (“CRG”), a non-profit cooperative association of fruit growers engaged in the agricultural harvesting business in Yuma County, Arizona. The Company paid harvest costs to CRG of $3,841,000 and $2,451,000 in the nine months ended July 31, 2019 and 2018, respectively, which are included in agribusiness expense in the Company’s consolidated statements of operations. Our Associated Citrus Packers, Inc. ("Associated") provided harvest management and administrative services to CRG in the amounts of $306,000 and $218,000 during the nine months ended July 31, 2019 and 2018, respectively, which are included in agribusiness revenues in the Company’s consolidated statements of operations. There was zero and $232,000 due to Associated from CRG at July 31, 2019 and October 31, 2018, respectively, which is included in accounts receivable, net in the Company’s consolidated balance sheets. The Company has representation on the board of directors of Yuma Mesa Irrigation and Drainage District (“YMIDD”). The Company purchased insignificant amounts of water from YMIDD during the nine months ended July 31, 2019 and 2018, respectively, which are included in agribusiness expenses in the Company’s consolidated statements of operations. There were no amounts due to YMIDD at July 31, 2019 or October 31, 2018. The Company has a 1.3% interest in Limco Del Mar, Ltd. (“Del Mar”) as a general partner and a 26.8% interest as a limited partner. The Company provides Del Mar with farm management, orchard land development and accounting services and received expense reimbursements of insignificant amounts during the nine months ended July 31, 2019 and 2018. The Company procures lemons from Del Mar and fruit proceeds payable to Del Mar were $645,000 and $709,000 at July 31, 2019 and October 31, 2018, 13. Related-Party Transactions (continued) respectively, and are included in grower’s payable in the Company’s consolidated balance sheets. The Company received insignificant cash distributions and recorded equity in earnings of this investment of $195,000 and $308,000 in the nine months ended July 31, 2019 and 2018, respectively. On August 14, 2014, the Company’s wholly owned subsidiary, Limoneira Chile SpA, invested approximately $1,750,000 for a 35% interest in Rosales, a citrus packing, marketing and sales business located in La Serena, Chile. The Company purchased an additional 12% interest in Rosales with the February 2017 acquisition of PDA. The Company recognized $537,000 and $1,009,000 of lemon sales to Rosales in the nine months ended July 31, 2019 and 2018, respectively. Additionally, San Pablo recognized aggregate lemon and orange sales of $1,391,000 and $5,000 to Rosales for the nine months ended July 31, 2019 and 2018, respectively. PDA recognized aggregate lemon and orange sales of $442,000 and $451,000 to Rosales in the three months ended July 31, 2019 and 2018, respectively, and $1,207,000 and $1,154,000 in the nine months ended July 31, 2019 and 2018, respectively, which are recorded in agribusiness revenues in the Company’s consolidated statements of operations. The aggregate amount of lemons and oranges procured from Rosales were $1,900,000 and $1,009,000 in the three months ended July 31, 2019 and 2018, respectively and $2,259,000 and $1,009,000 in the nine months ended July 31, 2019 and 2018, respectively. Amounts payable to Rosales were zero at July 31, 2019 and insignificant at October 31, 2018. The Company recorded insignificant equity in losses and insignificant equity earnings from this equity investment in the nine months ended July 31, 2019 and 2018, respectively, and amortization of fair value basis differences of $253,000 in the nine months ended July 31, 2019 and 2018. The Company received $283,000 and zero cash distributions from this equity investment in the nine months ended July 31, 2019 and 2018, respectively. As discussed in Note 3, on May 30, 2019, the Company acquired a 51% interest in Trapani Fresh. The Company advanced $907,000 to FGF for fruit purchases and FGF provided farming, packing and administrative services to Trapani Fresh of approximately $4,048,000 from acquisition to July 31, 2019, which are included in agribusiness expense in the Company's consolidated statement of operations. There was $2,907,000 due to FGF from Trapani Fresh at July 31, 2019, which is included in accounts payable in the Company's consolidated balance sheets.

Income Taxes	9 Months Ended
Income Taxes	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax benefit recorded for the nine months ended July 31, 2019 differs from the income taxes expected at the U.S. federal statutory tax rate of 21.0% due primarily to income attributable to foreign jurisdictions which is taxed at different rates, state taxes, and nondeductible tax items. The Company has no material uncertain tax positions as of July 31, 2019. The Company’s policy is to recognize interest expense and penalties related to income tax matters as a component of income tax expense. The Company has not accrued any interest and penalties associated with uncertain tax positions as of July 31, 2019. The Company applied the guidance in Staff Accounting Bulletin No. 118 (“SAB 118”) when accounting for the enactment-date effects of the 2017 Act throughout fiscal year 2018. At January 31, 2019, the Company completed its evaluation for all of the enactment-date income tax effects of the 2017 Act and no material adjustments noted are to be made on the provisional amounts recorded at January 31, 2018.

Retirement Plans

9 Months Ended

Jul. 31, 2019

Retirement Benefits [Abstract]

Retirement Plans

The Limoneira Company Retirement Plan (the “Plan”) is a noncontributory, defined benefit, single employer pension plan, which provides retirement benefits for all eligible employees. Benefits paid by the Plan are calculated based on years of service, highest five-year average earnings, primary Social Security benefit and retirement age. Effective June 2004, the Company froze the Plan and no additional benefits accrued to participants subsequent to that date.

15. Retirement Plans (continued)

The Plan is funded consistent with the funding requirements of federal law and regulations. There were funding contributions of $150,000 during both three months ended July 31, 2019 and 2018, respectively, and $450,000 during both nine months ended July 31, 2019 and 2018, respectively.

The components of net periodic pension cost for the Plan for the three and nine months ended July 31, 2019 and 2018 were as follows (in thousands):



	Three Months Ended July 31,						Nine Months Ended July 31,
	2019			2018			2019			2018
Administrative expenses	$	47		$	64		$	141		$	190
Interest cost	207			192			621			577
Expected return on plan assets	(272		)	(267		)	(816		)	(803		)
Prior service cost	11			11			33			33
Recognized actuarial loss	101			176			302			526
Net periodic benefit cost	$	94		$	176		$	281		$	523

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jul. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is from time to time involved in various lawsuits and legal proceedings that arise in the ordinary course of business. At this time, the Company is not aware of any pending or threatened litigation against it that it expects will have a material adverse effect on its business, financial condition, liquidity, or operating results. Legal claims are inherently uncertain, however, and it is possible that the Company’s business, financial condition, liquidity and/or operating results could be adversely affected in the future by legal proceedings.

Stock-based Compensation	9 Months Ended
Stock-based Compensation	Jul. 31, 2019
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation The Company has a stock-based compensation plan (the “Stock Plan”) that allows for the grant of common stock of the Company to members of management based on achievement of certain annual financial performance and other criteria. The number of shares granted is based on a percentage of the employee’s base salary divided by the stock price on the grant date. Shares granted under the Stock Plan vest over two to five-year periods. In December 2018, 40,094 shares of common stock with a per share value of $18.74 were granted to management under the Stock Plan for fiscal year 2018 performance, resulting in total compensation expense of approximately $751,000, with $343,000 recognized in the year ended October 31, 2018 and the balance to be recognized over the next two years as the shares vest. In addition, 90,000 shares of common stock with a per share value of $19.84 were granted to key executives under the Stock Plan, resulting in a total compensation expense of approximately $1,786,000, to be recognized equally over the next three years as the shares vest. During January 2019 and 2018, 15,642 and 14,033 shares, respectively, of common stock were granted to the Company’s non-employee directors under the Company’s stock-based compensation plans. The Company recognized $339,000 and $309,000 of stock-based compensation to non-employee directors during the nine months ended July 31, 2019 and 2018, respectively.

Segment Information

9 Months Ended

Jul. 31, 2019

Segment Reporting [Abstract]

Segment Information

The Company operates in six reportable operating segments: fresh lemons, lemon packing, avocados, other agribusiness, rental operations and real estate development. The reportable operating segments of the Company are strategic business units with different products and services, distribution processes and customer bases. The fresh lemons segment includes sales, farming and harvesting expenses and third-party grower costs relative to fresh lemons. The lemon packing segment includes packing revenues and shipping and handling revenues relative to lemon packing. The lemon packing segment expenses are comprised of lemon packing costs. The lemon packing segment revenues include intersegment revenues between fresh lemons and lemon packing. The intersegment revenues are included gross in the segment note and a separate line item is shown as an elimination. The avocados segment includes sales, farming and harvest costs. The other agribusiness segment includes sales, farming and harvesting of oranges, specialty citrus and other crops. The rental operations segment includes housing and commercial rental operations, leased land and organic recycling. The real estate development segment includes real estate development operations.

18. Segment Information (continued)

The Company does not separately allocate depreciation and amortization to its fresh lemons, lemon packing, avocados and other agribusiness segments. No asset information is provided for reportable operating segments, as these specified amounts are not included in the measure of segment profit or loss reviewed by the Company’s chief operating decision maker. The Company measures operating performance, including revenues and operating income, of its operating segments and allocates resources based on its evaluation. The Company does not allocate selling, general and administrative expense, other income, interest expense and income taxes, or specifically identify them to its operating segments. The Company earns packing revenue for packing lemons grown on its orchards and lemons procured from third-party growers. Intersegment revenues represent packing revenues related to lemons grown on the Company’s orchards.

Segment information for the three months ended July 31, 2019 (in thousands):



	Fresh Lemons⁽¹⁾		Lemon Packing		Eliminations			Avocados		Other Agribusiness			Total Agribusiness		Rental Operations		Real Estate Development			Corporate and Other			Total
Revenues from external customers	$	41,169	$	5,232	$	—		$	2,519	$	711		$	49,631	$	1,238	$	—		$	—		$	50,869
Intersegment revenue	—		10,263		(10,263		)	—		—			—		—		—			—			—
Total net revenues	41,169		15,495		(10,263		)	2,519		711			49,631		1,238		—			—			50,869
Costs and expenses	35,653		13,524		(10,263		)	1,185		825			40,924		798		50			4,899			46,671
Depreciation and amortization	—		—		—			—		—			1,823		195		—			62			2,080
Operating income (loss)	$	5,516	$	1,971	$	—		$	1,334	$	(114	)	$	6,884	$	245	$	(50	)	$	(4,961	)	$	2,118

Segment information for the three months ended July 31, 2018 (in thousands):



	Fresh Lemons		Lemon Packing		Eliminations			Avocados		Other Agribusiness		Total Agribusiness		Rental Operations		Real Estate Development			Corporate and Other			Total
Revenues from external customers	$	28,457	$	2,279	$	—		$	5,643	$	2,298	$	38,677	$	1,273	$	—		$	—		$	39,950
Intersegment revenue	—		6,340		(6,340		)	—		—		—		—		—			—			—
Total net revenues	28,457		8,619		(6,340		)	5,643		2,298		38,677		1,273		—			—			39,950
Costs and expenses	18,872		6,033		(6,340		)	1,829		2,066		22,460		810		25			3,454			26,749
Depreciation and amortization	—		—		—			—		—		1,523		194		—			59			1,776
Operating income (loss)	$	9,585	$	2,586	$	—		$	3,814	$	232	$	14,694	$	269	$	(25	)	$	(3,513	)	$	11,425

Segment information for the nine months ended July 31, 2019 (in thousands):



	Fresh Lemons⁽¹⁾		Lemon Packing		Eliminations			Avocados		Other Agribusiness			Total Agribusiness		Rental Operations		Real Estate Development			Corporate and Other			Total
Revenues from external customers	$	108,090	$	13,289	$	—		$	3,062	$	6,813		$	131,254	$	3,668	$	—		$	—		$	134,922
Intersegment revenue	—		25,464		(25,464		)	—		—			—		—		—			—			—
Total net revenues	108,090		38,753		(25,464		)	3,062		6,813			131,254		3,668		—			—			134,922
Costs and expenses	95,650		32,972		(25,464		)	2,822		7,210			113,190		2,583		102			14,627			130,502
Depreciation and amortization	—		—		—			—		—			5,551		584		—			192			6,327
Operating income (loss)	$	12,440	$	5,781	$	—		$	240	$	(397	)	$	12,513	$	501	$	(102	)	$	(14,819	)	$	(1,907	)

18. Segment Information (continued)

Segment information for the nine months ended July 31, 2018 (in thousands):



	Fresh Lemons		Lemon Packing		Eliminations			Avocados		Other Agribusiness		Total Agribusiness		Rental Operations		Real Estate Development			Corporate and Other			Total
Revenues from external customers	$	83,994	$	8,120	$	—		$	6,578	$	12,183	$	110,875	$	3,803	$	—		$	—		$	114,678
Intersegment revenue	—		18,416		(18,416		)	—		—		—		—		—			—			—
Total net revenues	83,994		26,536		(18,416		)	6,578		12,183		110,875		3,803		—			—			114,678
Costs and expenses	64,363		18,927		(18,416		)	3,408		8,195		76,477		2,461		94			11,369			90,401
Depreciation and amortization	—		—		—			—		—		4,466		584		—			160			5,210
Operating income (loss)	$	19,631	$	7,609	$	—		$	3,170	$	3,988	$	29,932	$	758	$	(94	)	$	(11,529	)	$	19,067

The following table sets forth revenues by category, by segment for the three and nine months ended July 31, 2019 and 2018 (in thousands):



	Three Months Ended July 31,						Nine Months Ended July 31,
	2019			2018			2019			2018
Fresh lemons ⁽¹⁾	$	41,169		$	28,457		$	108,090		$	83,994
Lemon packing	15,495			8,619			38,753			26,536
Intersegment revenue	(10,263		)	(6,340		)	(25,464		)	(18,416		)
Lemon revenues	46,401			30,736			121,379			92,114

Avocados	2,519			5,643			3,062			6,578

Navel and Valencia oranges	711			1,986			3,794			8,552
Specialty citrus and other crops	—			312			3,019			3,631
Other agribusiness revenues	711			2,298			6,813			12,183
Agribusiness revenues	49,631			38,677			131,254			110,875

Residential and commercial rentals	928			881			2,690			2,609
Leased land	224			304			717			958
Organic recycling and other	86			88			261			236
Rental operations revenues	1,238			1,273			3,668			3,803

Real estate development revenues	—			—			—			—
Total net revenues	$	50,869		$	39,950		$	134,922		$	114,678

⁽¹⁾ During the first quarter of fiscal 2019, the Company adopted a comprehensive new revenue recognition standard using a modified retrospective method that does not restate prior periods to be comparable to the current period presentation. The adoption of this guidance primarily impacted the presentation of certain brokered fruit sales revenue received and the related cost of fruit incurred by the Company. The adoption of this guidance resulted in revenue within the Company’s fresh lemon segment of $1,781,000 and $2,201,000, during the three and nine months ended July 31, 2019, respectively. See Note 2 - Summary of Significant Accounting Policies for additional information.

Subsequent Events	9 Months Ended
Subsequent Events	Jul. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated events subsequent to July 31, 2019 through the date of this filing, to assess the need for potential recognition or disclosure in this Quarterly Report on Form 10-Q. Based upon this evaluation, except as described in the notes to the interim consolidated financial statements, it was determined that no other subsequent events occurred that require recognition or disclosure in the unaudited consolidated financial statements.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Jul. 31, 2019

Accounting Policies [Abstract]

Revenue Recognition


•	Identify the contract(s) with a customer.


•	Identify the performance obligations in the contract.


•	Determine the transaction price.


•	Allocate the transaction price to the performance obligations in the contract.


•	Recognize revenue when (or as) the entity satisfies a performance obligation.

2. Summary of Significant Accounting Policies (continued)

Revenue Recognition (continued)

the packinghouses relating to fruits that are in pools that have not yet closed at month end if: (a) the related fruits have been delivered

to and accepted by Calavo and other third-party packinghouses (i.e., Calavo and other third-party packinghouses obtain control) and

(b) sales price information has been provided by Calavo and other third-party packinghouses (based on the marketplace activity for

2. Summary of Significant Accounting Policies (continued)

Revenue Recognition (continued)

Revenue from crop insurance proceeds is recorded when the amount can be reasonably determined and upon establishment of the present right to payment.

Recent Accounting Pronouncements

FASB ASU 2016-01, Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities

FASB ASU 2016-02, Leases (Topic 842) and related ASUs, including ASU 2018-11, Leases (Topic 842): Targeted Improvements

Under the new guidance, lessees will be required to recognize the following for all leases (with the exception of short-term leases) at the commencement date:

2. Summary of Significant Accounting Policies (continued)

Recent Accounting Pronouncements (continued)


•	A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and


•	A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term.

FASB ASU No. 2017-04 -Intangibles -Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

FASB ASU 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

FASB ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

2. Summary of Significant Accounting Policies (continued)

Recent Accounting Pronouncements (continued)

FASB ASU 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans

SEC Amendments to Certain Disclosure Requirements

Acquisitions (Tables)

9 Months Ended

Jul. 31, 2019

Business Combinations [Abstract]

Schedule of the Fair Value of Net Assets Acquired

Below is a summary of the fair value of the net assets acquired on the acquisition date based on a third-party valuation (in thousands):



Cultural costs	$	579
Land and land improvements	9,114
Buildings and equipment	207
Orchards	2,058
Water rights	1,153
Total assets acquired	$	13,111

Schedule of the Fair Value of Net Assets Acquired

Below is a summary of the fair value of the net assets acquired on the acquisition date based on a third-party valuation (in thousands):



Land and land improvements	$	7,294
Buildings and equipment	14,866
Customer relationships and trade names	2,270
Goodwill	570
Total assets acquired	$	25,000

Below is a summary of the preliminary fair value of the net assets acquired on the acquisition date based on a third-party valuation (in thousands):



Cultural costs	$	3,270
Land and land improvements	9,520
Buildings and improvements	870
Orchards	8,410
Customer relationships, trademarks and non-competition agreement (10 year useful life)	6,380
Goodwill	960
Total assets acquired	29,410
Noncontrolling interest	(14,410		)
Net cash paid	$	15,000

Fair Value Measurements (Tables)

9 Months Ended

Jul. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis



July 31, 2019	Level 1		Level 2		Level 3		Total
Assets at fair value:
Equity securities	$	21,226	$	—	$	—	$	21,226



October 31, 2018	Level 1		Level 2		Level 3		Total
Assets at fair value:
Equity securities	$	24,250	$	—	$	—	$	24,250

Prepaid Expenses and Other Current Assets (Tables)

9 Months Ended

Jul. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):



	July 31, 2019		October 31, 2018
Prepaid insurance	$	515	$	647
Prepaid supplies	2,093		1,196
Lemon supplier advances	3,438		170
Note receivable, net	2,599		2,797
Real estate development held for sale	5,024		5,024
Commercial property held for sale	3,295		—
Water assessment fees and other	1,519		694
	$	18,483	$	10,528

Real Estate Development (Tables)

9 Months Ended

Jul. 31, 2019

Real Estate [Abstract]

Schedule of Real Estate Properties

Real estate development assets are comprised primarily of land and land development costs and consist of the following (in thousands):



	July 31, 2019		October 31, 2018
East Area I	$	—	$	91,357
Retained Property - East Area I	10,777		10,408
East Area II	5,601		5,397
	$	16,378	$	107,162

Equity in Investments (Tables)

9 Months Ended

Jul. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity in Investments

The following is unaudited summarized financial information for the LLC (in thousands):



	Nine Months Ended July 31,
	2019		2018
Revenues	$	36,551	$	—
Cost of land sold	26,770		—
Operating expenses	444		233
Net income (loss)	$	9,336	$	(233	)
Net income attributable to Limoneira Company	$	4,021	$	—

Equity investments consist of the following (in thousands):



	July 31, 2019		October 31, 2018
Limoneira Lewis Community Builders, LLC	$	53,719	$	14,060
Limco Del Mar, Ltd.	1,955		1,935
Rosales	1,591		2,191
Romney Property Partnership	510		512
	$	57,775	$	18,698

Other Assets (Tables)

9 Months Ended

Jul. 31, 2019

Other Assets [Abstract]

Schedule of Other Assets

Other assets consist of the following (in thousands):



	July 31, 2019		October 31, 2018
Investments in mutual water companies	$	5,498	$	5,026
Acquired water and mineral rights	3,784		3,783
Deposit for land purchase	589		593
Deferred lease assets and other	323		396
Notes receivable	821		566
Revolving funds and memberships	240		267
Intangibles, net of accumulated amortization	8,458		2,442
Goodwill	2,391		1,431
	$	22,104	$	14,504

Accrued Liabilities (Tables)

9 Months Ended

Jul. 31, 2019

Accounts Payable and Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):



	July 31, 2019		October 31, 2018
Compensation	$	2,109	$	2,784
Property taxes	205		785
Interest	403		297
Deferred rental income and deposits	473		497
Lease expense	92		378
Lemon supplier payables	—		1,214
Other	991		1,769
	$	4,273	$	7,724

Long-Term Debt (Tables)

9 Months Ended

Jul. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt is comprised of the following (in thousands):



	July 31, 2019		October 31, 2018
Farm Credit West revolving and non-revolving lines of credit: the interest rate of the revolving line of credit is variable based on the one-month London Interbank Offered Rate (“LIBOR”), which was 2.40% at July 31, 2019, plus 1.85%. Effective July 1, 2018, the interest rate for the $40,000,000 outstanding balance of the non-revolving line of credit was fixed at 4.77%. Interest is payable monthly and the principal is due in full on July 1, 2022.	$	85,378	$	50,888
Farm Credit West term loan: the interest rate is variable and was 4.95% at July 31, 2019. The loan is payable in quarterly installments through November 2022.	2,179		2,602
Farm Credit West term loan: the interest rate is variable and was 4.95% at July 31, 2019. The loan is payable in monthly installments through October 2035.	1,090		1,122
Farm Credit West term loan: the interest rate is fixed at 4.70%. The loan is payable in monthly installments though March 2036.	8,912		9,172
Farm Credit West term loan: the interest rate is fixed at 3.62% until March 2021, becoming variable for the remainder of the loan. The loan is payable in monthly installments though March 2036.	6,594		6,808
Wells Fargo term loan: the interest rate is fixed at 3.58%. The loan is payable in monthly installments through January 2023.	5,312		6,367
Banco de Chile term loan: the interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	1,512		1,857
Note Payable: the interest rate ranges from 5.00% to 7.00% and was 5.50% at July 31, 2019. The loan includes interest-only monthly payments and principal is due in February 2023.	1,435		1,435
Subtotal	112,412		80,251
Less deferred financing costs, net of accumulated amortization	135		158
Total long-term debt, net	112,277		80,093
Less current portion	3,024		3,127
Long-term debt, less current portion	$	109,253	$	76,966

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Basic and Diluted Net (Loss) Income per Share (Tables)

9 Months Ended

Jul. 31, 2019

Earnings Per Share [Abstract]

Schedule of Net (Loss) Income per Share

The computations for basic and diluted net (loss) income per common share are as follows (in thousands, except per share amounts):



	Three Months Ended July 31,						Nine Months Ended July 31,
	2019			2018			2019			2018
Basic net (loss) income per common share:
Net (loss) income applicable to common stock	$	(1,115	)	$	8,076		$	(3,244	)	$	23,049
Effect of unvested, restricted stock	(16		)	(10		)	(49		)	(29		)
Numerator: Net (loss) income for basic EPS	(1,131		)	8,066			(3,293		)	23,020
Denominator: Weighted average common shares-basic	17,554			15,947			17,527			14,979
Basic net (loss) income per common share	$	(0.06	)	$	0.51		$	(0.19	)	$	1.54



Diluted net (loss) income per common share:
Numerator: Net (loss) income for diluted EPS	$	(1,131	)	$	8,201	$	(3,293	)	$	23,425
Weighted average common shares–basic	17,554			15,947		17,527			14,979
Effect of dilutive unvested, restricted stock and preferred stock	—			604		—			599
Denominator: Weighted average common shares–diluted	17,554			16,551		17,527			15,578
Diluted net (loss) income per common share	$	(0.06	)	$	0.50	$	(0.19	)	$	1.50

Retirement Plans (Tables)

9 Months Ended

Jul. 31, 2019

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The components of net periodic pension cost for the Plan for the three and nine months ended July 31, 2019 and 2018 were as follows (in thousands):



	Three Months Ended July 31,						Nine Months Ended July 31,
	2019			2018			2019			2018
Administrative expenses	$	47		$	64		$	141		$	190
Interest cost	207			192			621			577
Expected return on plan assets	(272		)	(267		)	(816		)	(803		)
Prior service cost	11			11			33			33
Recognized actuarial loss	101			176			302			526
Net periodic benefit cost	$	94		$	176		$	281		$	523

Segment Information (Tables)

9 Months Ended

Jul. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Information by Segment

Segment information for the three months ended July 31, 2019 (in thousands):



	Fresh Lemons⁽¹⁾		Lemon Packing		Eliminations			Avocados		Other Agribusiness			Total Agribusiness		Rental Operations		Real Estate Development			Corporate and Other			Total
Revenues from external customers	$	41,169	$	5,232	$	—		$	2,519	$	711		$	49,631	$	1,238	$	—		$	—		$	50,869
Intersegment revenue	—		10,263		(10,263		)	—		—			—		—		—			—			—
Total net revenues	41,169		15,495		(10,263		)	2,519		711			49,631		1,238		—			—			50,869
Costs and expenses	35,653		13,524		(10,263		)	1,185		825			40,924		798		50			4,899			46,671
Depreciation and amortization	—		—		—			—		—			1,823		195		—			62			2,080
Operating income (loss)	$	5,516	$	1,971	$	—		$	1,334	$	(114	)	$	6,884	$	245	$	(50	)	$	(4,961	)	$	2,118

Segment information for the three months ended July 31, 2018 (in thousands):



	Fresh Lemons		Lemon Packing		Eliminations			Avocados		Other Agribusiness		Total Agribusiness		Rental Operations		Real Estate Development			Corporate and Other			Total
Revenues from external customers	$	28,457	$	2,279	$	—		$	5,643	$	2,298	$	38,677	$	1,273	$	—		$	—		$	39,950
Intersegment revenue	—		6,340		(6,340		)	—		—		—		—		—			—			—
Total net revenues	28,457		8,619		(6,340		)	5,643		2,298		38,677		1,273		—			—			39,950
Costs and expenses	18,872		6,033		(6,340		)	1,829		2,066		22,460		810		25			3,454			26,749
Depreciation and amortization	—		—		—			—		—		1,523		194		—			59			1,776
Operating income (loss)	$	9,585	$	2,586	$	—		$	3,814	$	232	$	14,694	$	269	$	(25	)	$	(3,513	)	$	11,425

Segment information for the nine months ended July 31, 2019 (in thousands):



	Fresh Lemons⁽¹⁾		Lemon Packing		Eliminations			Avocados		Other Agribusiness			Total Agribusiness		Rental Operations		Real Estate Development			Corporate and Other			Total
Revenues from external customers	$	108,090	$	13,289	$	—		$	3,062	$	6,813		$	131,254	$	3,668	$	—		$	—		$	134,922
Intersegment revenue	—		25,464		(25,464		)	—		—			—		—		—			—			—
Total net revenues	108,090		38,753		(25,464		)	3,062		6,813			131,254		3,668		—			—			134,922
Costs and expenses	95,650		32,972		(25,464		)	2,822		7,210			113,190		2,583		102			14,627			130,502
Depreciation and amortization	—		—		—			—		—			5,551		584		—			192			6,327
Operating income (loss)	$	12,440	$	5,781	$	—		$	240	$	(397	)	$	12,513	$	501	$	(102	)	$	(14,819	)	$	(1,907	)

18. Segment Information (continued)

Segment information for the nine months ended July 31, 2018 (in thousands):



	Fresh Lemons		Lemon Packing		Eliminations			Avocados		Other Agribusiness		Total Agribusiness		Rental Operations		Real Estate Development			Corporate and Other			Total
Revenues from external customers	$	83,994	$	8,120	$	—		$	6,578	$	12,183	$	110,875	$	3,803	$	—		$	—		$	114,678
Intersegment revenue	—		18,416		(18,416		)	—		—		—		—		—			—			—
Total net revenues	83,994		26,536		(18,416		)	6,578		12,183		110,875		3,803		—			—			114,678
Costs and expenses	64,363		18,927		(18,416		)	3,408		8,195		76,477		2,461		94			11,369			90,401
Depreciation and amortization	—		—		—			—		—		4,466		584		—			160			5,210
Operating income (loss)	$	19,631	$	7,609	$	—		$	3,170	$	3,988	$	29,932	$	758	$	(94	)	$	(11,529	)	$	19,067

The following table sets forth revenues by category, by segment for the three and nine months ended July 31, 2019 and 2018 (in thousands):



	Three Months Ended July 31,						Nine Months Ended July 31,
	2019			2018			2019			2018
Fresh lemons ⁽¹⁾	$	41,169		$	28,457		$	108,090		$	83,994
Lemon packing	15,495			8,619			38,753			26,536
Intersegment revenue	(10,263		)	(6,340		)	(25,464		)	(18,416		)
Lemon revenues	46,401			30,736			121,379			92,114

Avocados	2,519			5,643			3,062			6,578

Navel and Valencia oranges	711			1,986			3,794			8,552
Specialty citrus and other crops	—			312			3,019			3,631
Other agribusiness revenues	711			2,298			6,813			12,183
Agribusiness revenues	49,631			38,677			131,254			110,875

Residential and commercial rentals	928			881			2,690			2,609
Leased land	224			304			717			958
Organic recycling and other	86			88			261			236
Rental operations revenues	1,238			1,273			3,668			3,803

Real estate development revenues	—			—			—			—
Total net revenues	$	50,869		$	39,950		$	134,922		$	114,678

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Nov. 01, 2018	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Agribusiness
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues		$ 49,631	$ 38,677	$ 131,254	$ 110,875
Costs and expenses		42,747	$ 23,983	118,741	$ 80,943
ASU 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606 \| Agribusiness
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues		1,781		2,201
Costs and expenses		$ 1,781		$ 2,201
ASU 2018-02
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative-effect reclassification in the statement of financial position to retained earnings from AOCI	$ 1,724
Retained Earnings \| ASU 2016-01
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative-effect adjustment to the statement of financial position to retained earnings from accumulated other comprehensive income	15,921
Retained Earnings \| ASU 2018-02
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative-effect adjustment to the statement of financial position to retained earnings from accumulated other comprehensive income	(1,724)
Retained Earnings \| Calavo Growers, Inc. \| ASU 2016-01
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative-effect adjustment to the statement of financial position to retained earnings from accumulated other comprehensive income	15,921
Accumulated Other Comprehensive Income (Loss) \| ASU 2016-01
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative-effect adjustment to the statement of financial position to retained earnings from accumulated other comprehensive income	(15,921)
Accumulated Other Comprehensive Income (Loss) \| ASU 2018-02
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative-effect adjustment to the statement of financial position to retained earnings from accumulated other comprehensive income	1,724
Accumulated Other Comprehensive Income (Loss) \| Calavo Growers, Inc. \| ASU 2016-01
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative-effect adjustment to the statement of financial position to retained earnings from accumulated other comprehensive income	$ 15,921

Acquisitions - Asset Acquisitions, Narrative (Details) $ in Thousands		1 Months Ended	9 Months Ended		12 Months Ended
	Jul. 18, 2018 USD ($) a parcel	Jan. 31, 2019 USD ($) a	Jul. 31, 2019 USD ($)	Jul. 31, 2018 USD ($)	Oct. 31, 2018 USD ($)
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Agriculture property acquisition \| $			$ 397	$ 13,111
San Pablo Ranch and Related Assets
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Area of land \| a	3,317
Consideration transferred \| $	$ 13,000
Number of parcels \| parcel	2
Purchase price \| $	$ 111
Pro forma revenue \| $					$ 130,262
Pro forma net income (loss) \| $					$ 18,785
San Pablo Ranch and Related Assets \| Lemons
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Area of land \| a	247
San Pablo Ranch and Related Assets \| Oranges
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Area of land \| a	61
San Pablo Ranch and Related Assets \| Lemon Production
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Area of land \| a	120
San Pablo Ranch and Related Assets \| Avocados
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Area of land \| a	500
Citrus Orchard in Lindsay, California
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Agriculture property acquisition \| $		$ 397
Area of land \| a		26

Acquisitions - San Pablo Acquisition (Details) - San Pablo Ranch and Related Assets $ in Thousands	Jul. 18, 2018 USD ($)
Business Acquisition [Line Items]
Cultural costs	$ 579
Water rights	1,153
Total assets acquired	13,111
Land and land improvements
Business Acquisition [Line Items]
Property, plant and equipment	9,114
Buildings and equipment
Business Acquisition [Line Items]
Property, plant and equipment	207
Orchards
Business Acquisition [Line Items]
Property, plant and equipment	$ 2,058

Acquisitions - Business Combinations, Narrative (Details) $ in Thousands				1 Months Ended		2 Months Ended	4 Months Ended	9 Months Ended	12 Months Ended
	May 30, 2019 USD ($) a	Oct. 31, 2018 USD ($)	Jul. 26, 2018 USD ($)	May 31, 2019 USD ($)	Feb. 28, 2019 USD ($)	Jul. 31, 2019 USD ($)	May 30, 2019 USD ($) a	Jul. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)
Business Acquisition [Line Items]
Goodwill		$ 1,431				$ 2,391		$ 2,391	$ 1,431
FGF Trapani \| Trapani Fresh
Business Acquisition [Line Items]
Ownership interest	49.00%						49.00%
Argentine Trust \| Finca Santa Clara
Business Acquisition [Line Items]
Ownership interest	75.00%						75.00%
FGF Trapani \| Finca Santa Clara
Business Acquisition [Line Items]
Ownership interest	25.00%						25.00%
Trapani Fresh
Business Acquisition [Line Items]
Ownership interest acquired	51.00%						51.00%
Total consideration paid	$ 15,000
Consideration paid	7,500
Consideration advanced as prepayments				$ 3,500	$ 4,000		$ 7,500
Revenue included in the statement of operations						11,685
Net income (loss) included in the statement of operations						$ 1,203
Goodwill	$ 960						$ 960
Pro forma revenues								141,149
Pro forma net income (loss)								$ (2,705)
Transaction costs				$ 548
Trapani Fresh \| Finca Santa Clara
Business Acquisition [Line Items]
Area of land \| a	1,200						1,200
Argentine Trust
Business Acquisition [Line Items]
Ownership interest acquired	51.00%						51.00%
Oxnard Lemon
Business Acquisition [Line Items]
Total consideration paid									25,000
Goodwill			$ 570
Pro forma revenues									142,253
Pro forma net income (loss)									19,728
Purchase price of initial acquisition			$ 24,750
Purchase price at final closing date		$ 250
Transaction costs									$ 142

Acquisitions - Schedule of the Fair Value of Net Assets Acquired (Details) - USD ($) $ in Thousands	May 30, 2019	Jul. 31, 2019	Oct. 31, 2018	Jul. 26, 2018
Business Acquisition [Line Items]
Goodwill		$ 2,391	$ 1,431
Oxnard Lemon
Business Acquisition [Line Items]
Land and land improvements				$ 7,294
Buildings and equipment				14,866
Customer relationships, trademarks and non-competition agreement (10 year useful life)				2,270
Goodwill				570
Total assets acquired				$ 25,000
Trapani Fresh
Business Acquisition [Line Items]
Cultural costs	$ 3,270
Customer relationships, trademarks and non-competition agreement (10 year useful life)	6,380
Goodwill	960
Total assets acquired	29,410
Noncontrolling interest	(14,410)
Net cash paid	$ 15,000
Useful life	10 years
Trapani Fresh \| Land and land improvements
Business Acquisition [Line Items]
Land and land improvements	$ 9,520
Trapani Fresh \| Buildings and improvements
Business Acquisition [Line Items]
Land and land improvements	870
Trapani Fresh \| Orchards
Business Acquisition [Line Items]
Land and land improvements	$ 8,410

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Measured on a Recurring Basis - USD ($) $ in Thousands	Jul. 31, 2019	Oct. 31, 2018
Assets at fair value:
Equity securities	$ 21,226
Equity securities		$ 24,250
Level 1
Assets at fair value:
Equity securities	21,226
Equity securities		24,250
Level 2
Assets at fair value:
Equity securities	0
Equity securities		0
Level 3
Assets at fair value:
Equity securities	$ 0
Equity securities		$ 0

Fair Value Measurements - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018	Oct. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sale of stock in Calavo Growers, Inc.				$ 952	$ 0
Loss on sale of stock in Calavo Growers, Inc.		$ 6	$ 0	6	0
Unrealized gain (loss) on stock		(1,769)	0	(2,067)	0
Available-for-sale securities, change in unrealized holding gain (loss) before taxes			(360)		5,640
Available-for-sale securities, change in net unrealized holding gain, net of tax		$ 0	$ (255)	$ 0	$ 3,987
Calavo Growers, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment owned (in shares)	240,000	240,000		240,000		250,000
Ownership percentage	1.40%	1.40%		1.40%		1.40%
Shares sold (in shares)	10,000
Proceeds from sale of stock in Calavo Growers, Inc.	$ 952
Loss on sale of stock in Calavo Growers, Inc.	$ 6
Equity method investment investee, price per share (in dollars per share)	$ 88.44	$ 88.44		$ 88.44		$ 97.00

Concentrations (Details)	3 Months Ended		9 Months Ended
Concentrations (Details)	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Lemons \| Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	59.00%	35.00%	59.00%	44.00%

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Oct. 31, 2018
Prepaid Expenses And Other Assets, Current [Line Items]
Prepaid insurance	$ 515	$ 647
Prepaid supplies	2,093	1,196
Lemon supplier advances	3,438	170
Note receivable, net	2,599	2,797
Water assessment fees and other	1,519	694
Prepaid expenses and other current assets	18,483	10,528
Real estate development held for sale
Prepaid Expenses And Other Assets, Current [Line Items]
Property held for sale	5,024	5,024
Commercial property held for sale
Prepaid Expenses And Other Assets, Current [Line Items]
Property held for sale	$ 3,295	$ 0

Prepaid Expenses and Other Current Assets - Narrative (Details) - Commercial Property - USD ($) $ in Thousands	Aug. 30, 2019	Jul. 31, 2019	Oct. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price		$ 4,000
Carrying value of property held for sale		$ 3,295	$ 0
Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of real estate	$ 3,978
Gain (loss) on sale of real estate property	$ 586

Real Estate Development - Schedule of Real Estate Development (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Oct. 31, 2018
Real Estate Properties [Line Items]
Real estate development assets	$ 16,378	$ 107,162
East Area I
Real Estate Properties [Line Items]
Real estate development assets	0	91,357
Retained Property
Real Estate Properties [Line Items]
Real estate development assets	10,777	10,408
East Areas II
Real Estate Properties [Line Items]
Real estate development assets	$ 5,601	$ 5,397

Real Estate Development - Narrative (Details)	1 Months Ended		3 Months Ended		9 Months Ended
Real Estate Development - Narrative (Details)	Dec. 31, 2018 USD ($)	Oct. 31, 2018 USD ($)	Jul. 31, 2019 USD ($) Property	Jul. 31, 2018 USD ($)	Jul. 31, 2019 USD ($) Property	Jul. 31, 2018 USD ($)	Nov. 10, 2015 USD ($)	Oct. 31, 2005 a property
Real Estate Properties [Line Items]
Increase in real estate development and sale-leaseback deferral				$ 5,306,000		$ 13,731,000
Decrease in real estate development and sale lease-back deferral	$ 58,330,000
Reclassification from joint venture to equity in investments	$ 33,353,000
Income (loss) from equity method investments			$ 480,000	$ 123,000	$ 2,449,000	40,000
East Areas I and II
Real Estate Properties [Line Items]
Number of properties \| property								2
Number of acres \| a								550
Income (loss) from equity method investments					2,573,000
Retained Property
Real Estate Properties [Line Items]
Real estate development		$ 10,408,000	10,777,000		10,777,000
Limoneira Lewis Community Builders, LLC Agreement
Real Estate Properties [Line Items]
Proceeds from sale of real estate held-for-investment					4,000,000	$ 3,500,000
Pacific Crest
Real Estate Properties [Line Items]
Proceeds from sale of real estate held-for-investment		5,200,000
Real estate, gross		2,481,000	$ 2,481,000		$ 2,481,000
Impairments of real estate development assets		769,000
Sevilla
Real Estate Properties [Line Items]
Real estate, gross		2,543,000
Impairments of real estate development assets		$ 789,000
Limoneira Lewis Community Builders
Real Estate Properties [Line Items]
Number of residential units sold \| Property			210		210
Lewis Group of Companies
Real Estate Properties [Line Items]
Equity method investment, aggregate cost			$ 20,000,000		$ 20,000,000
Lewis Group of Companies \| East Area I
Real Estate Properties [Line Items]
Ownership percentage							50.00%
Equity method investment, aggregate cost							$ 20,000,000

Equity in Investments - Schedule of Equity in Investments (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Oct. 31, 2018
Schedule of Equity Method Investments [Line Items]
Equity in investments	$ 57,775	$ 18,698
Limoneira Lewis Community Builders, LLC
Schedule of Equity Method Investments [Line Items]
Equity in investments	53,719	14,060
Limco Del Mar, Ltd.
Schedule of Equity Method Investments [Line Items]
Equity in investments	1,955	1,935
Rosales
Schedule of Equity Method Investments [Line Items]
Equity in investments	1,591	2,191
Romney Property Partnership
Schedule of Equity Method Investments [Line Items]
Equity in investments	$ 510	$ 512

Equity in Investments - Narrative (Details) - Rosales	Oct. 31, 2017	Oct. 31, 2014
Schedule of Equity Method Investments [Line Items]
Ownership percentage		35.00%
Additional ownership percentage	12.00%

Equity in Investments - Financial Information for Equity in Investments (Details) - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018
Schedule of Equity Method Investments [Line Items]
Net income (loss)	$ 4,021	$ 0
Limoneira Lewis Community Builders
Schedule of Equity Method Investments [Line Items]
Revenues	36,551	0
Cost of land sold	26,770	0
Operating expenses	444	233
Net income (loss)	$ 9,336	$ (233)

Other Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Oct. 31, 2018
Other Assets [Abstract]
Investments in mutual water companies	$ 5,498	$ 5,026
Acquired water and mineral rights	3,784	3,783
Deposit for land purchase	589	593
Deferred lease assets and other	323	396
Notes receivable	821	566
Revolving funds and memberships	240	267
Intangibles, net of accumulated amortization	8,458	2,442
Goodwill	2,391	1,431
Other assets	$ 22,104	$ 14,504

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2019	Oct. 31, 2018
Accounts Payable and Accrued Liabilities, Current [Abstract]
Compensation	$ 2,109	$ 2,784
Property taxes	205	785
Interest	403	297
Deferred rental income and deposits	473	497
Lease expense	92	378
Lemon supplier payables	0	1,214
Other	991	1,769
Accrued liabilities	$ 4,273	$ 7,724

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)	9 Months Ended
	Jul. 31, 2019	Oct. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 112,412,000	$ 80,251,000
Less deferred financing costs, net of accumulated amortization	135,000	158,000
Total long-term debt, net	112,277,000	80,093,000
Less current portion	3,024,000	3,127,000
Long-term debt, less current portion	109,253,000	76,966,000
Notes Payable
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,435,000	1,435,000
Variable interest rate	5.50%
Maturity date	Feb. 28, 2023
Notes Payable \| Minimum
Debt Instrument [Line Items]
Variable interest rate	5.00%
Notes Payable \| Maximum
Debt Instrument [Line Items]
Variable interest rate	7.00%
Farm Credit West Revolving and Non-Revolving Lines of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 85,378,000	50,888,000
Maturity date	Jul. 01, 2022
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Base rate	2.40%
Basis spread on variable rate	1.85%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 40,000,000
Fixed interest rate	4.77%
Farm Credit West Term Loan due November 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 2,179,000	2,602,000
Variable interest rate	4.95%
Maturity date	Nov. 30, 2022
Farm Credit West Term Loan due October 2035
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,090,000	1,122,000
Variable interest rate	4.95%
Maturity date	Oct. 31, 2035
Farm Credit West Term Loan due March 2036
Debt Instrument [Line Items]
Long-term debt, gross	$ 8,912,000	9,172,000
Fixed interest rate	4.70%
Maturity date	Mar. 31, 2036
Farm Credit West Term Loan due March 2036
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,594,000	6,808,000
Fixed interest rate	3.62%
Maturity date	Mar. 31, 2036
Wells Fargo Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 5,312,000	6,367,000
Fixed interest rate	3.58%
Maturity date	Jan. 31, 2023
Banco de Chile Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,512,000	$ 1,857,000
Fixed interest rate	6.48%
Maturity date	Jan. 31, 2025

Long-Term Debt - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018	Jan. 29, 2018	Jan. 28, 2018
Debt Instrument [Line Items]
Interest costs capitalized	$ 366,000	$ 688,000	$ 977,000	$ 1,637,000
Farm Credit West Revolving and Non-Revolving Lines of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	115,000,000		115,000,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	75,000,000		75,000,000		$ 75,000,000	$ 60,000,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 40,000,000		$ 40,000,000

Basic and Diluted Net (Loss) Income per Share - Schedule of Net (Loss) Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Basic net (loss) income per common share:
Net (loss) income applicable to common stock	$ (1,115)	$ 8,076	$ (3,244)	$ 23,049
Effect of unvested, restricted stock	(16)	(10)	(49)	(29)
Numerator: Net (loss) income for basic EPS	$ (1,131)	$ 8,066	$ (3,293)	$ 23,020
Denominator: Weighted average common shares–basic (in shares)	17,554,000	15,947,000	17,527,000	14,979,000
Basic net (loss) income per common share (in dollars per share)	$ (0.06)	$ 0.51	$ (0.19)	$ 1.54
Diluted net (loss) income per common share:
Numerator: Net (loss) income for diluted EPS	$ (1,131)	$ 8,201	$ (3,293)	$ 23,425
Denominator: Weighted average common shares–basic (in shares)	17,554,000	15,947,000	17,527,000	14,979,000
Effect of dilutive unvested, restricted stock and preferred stock (in shares)	0	604,000	0	599,000
Weighted average common shares–diluted (in shares)	17,554,000	16,551,000	17,527,000	15,578,000
Diluted net (loss) income per common share (in dollars per share)	$ (0.06)	$ 0.50	$ (0.19)	$ 1.50

Basic and Diluted Net (Loss) Income per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Restricted Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	149	76	135	81

Related-Party Transactions (Details)		2 Months Ended	3 Months Ended		9 Months Ended
Related-Party Transactions (Details)	Aug. 14, 2014 USD ($)	Jul. 31, 2019 USD ($) a shares	Jul. 31, 2019 USD ($) a shares	Jul. 31, 2018 USD ($) a	Jul. 31, 2019 USD ($) a shares	Jul. 31, 2018 USD ($) a	May 30, 2019	Oct. 31, 2018 USD ($)	Feb. 28, 2017	Jul. 01, 2013 a
Related Party Transaction [Line Items]
Income (loss) from equity method investments			$ 480,000	$ 123,000	$ 2,449,000	$ 40,000
Payments to acquire equity method investments					4,000,000	3,500,000
Cash distributions from equity investments					$ 458,000	$ 175,000
Trapani Fresh
Related Party Transaction [Line Items]
Ownership interest acquired							51.00%
Management
Related Party Transaction [Line Items]
Operating lease, area of land \| a		31	31	31	31	31
Series B-2 Convertible Preferred Stock
Related Party Transaction [Line Items]
Temporary equity, shares issued (in shares) \| shares		9,300	9,300		9,300
Lemons and Oranges \| San Pablo Ranch and Related Assets
Related Party Transaction [Line Items]
Revenue from related parties					$ 1,391,000	$ 5,000
Lemons and Oranges \| Fruticola Pan de Azucar S.A.
Related Party Transaction [Line Items]
Revenue from related parties			$ 442,000	$ 451,000	1,207,000	1,154,000
Employee
Related Party Transaction [Line Items]
Rental income					550,000	530,000
Mutual Water Companies
Related Party Transaction [Line Items]
Purchases from related party			207,000	211,000	1,065,000	1,097,000
Cooperative Association
Related Party Transaction [Line Items]
Purchases from related party			302,000	396,000	1,158,000	1,211,000
Calavo Growers, Inc.
Related Party Transaction [Line Items]
Rental income					240,000	219,000
Purchases from related party			261,000	57,000	262,000	61,000
Due to related parties		$ 260,000	260,000		260,000			$ 3,000
Investment income, dividend					250,000	285,000
Dividend payments					381,000	324,000
Due from related parties		$ 729,000	729,000		729,000			0
Calavo Growers, Inc. \| Avocados
Related Party Transaction [Line Items]
Revenue from related parties			$ 2,519,000	5,643,000	3,062,000	6,578,000
Board of Directors
Related Party Transaction [Line Items]
Purchases from related party				329,000	$ 386,000	1,715,000
Due to related parties								487,000
Cadiz
Related Party Transaction [Line Items]
Operating lease, area of land \| a										9,600
Term of contract		20 years	20 years		20 years
Additional lease expense gross harvest revenue percentage					20.00%
Cadiz \| Minimum
Related Party Transaction [Line Items]
Operating lease, area of land \| a										320
Lease expense per acre					$ 200
Cadiz \| Maximum
Related Party Transaction [Line Items]
Operating lease, area of land \| a										960
Lease expense per acre					1,200
Colorado River Growers
Related Party Transaction [Line Items]
Revenue from related parties					306,000	218,000
Due from related parties		$ 0	$ 0		0			232,000
Payments for advance to affiliate					3,841,000	2,451,000
Yuma Mesa Irrigation and Drainage District
Related Party Transaction [Line Items]
Due to related parties		0	0		0			0
Limco Del Mar, Ltd.
Related Party Transaction [Line Items]
Due to related parties		$ 645,000	$ 645,000		645,000			$ 709,000
Income (loss) from equity method investments					195,000	308,000
Cash distributions from equity investments					$ 283,000	0
Limco Del Mar, Ltd. \| General Partner
Related Party Transaction [Line Items]
Ownership percentage		1.30%	1.30%		1.30%
Limco Del Mar, Ltd. \| Limited Partner
Related Party Transaction [Line Items]
Ownership percentage		26.80%	26.80%		26.80%
Rosales
Related Party Transaction [Line Items]
Ownership percentage	35.00%
Payments to acquire equity method investments	$ 1,750,000
Amortization of intangible assets					$ 253,000	253,000
Rosales \| Limoneira Company
Related Party Transaction [Line Items]
Additional ownership percentage									12.00%
Rosales \| Lemons
Related Party Transaction [Line Items]
Due to related parties		$ 0	$ 0		0
Revenue from related parties					537,000	1,009,000
Rosales \| Lemons and Oranges
Related Party Transaction [Line Items]
Purchases from related party			1,900,000	$ 1,009,000	2,259,000	$ 1,009,000
FGF
Related Party Transaction [Line Items]
Purchases from related party		907,000
FGF \| Trapani Fresh
Related Party Transaction [Line Items]
Due to related parties		2,907,000	$ 2,907,000		$ 2,907,000
Farming, packing and administrative services provided by related party		$ 4,048,000

Retirement Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Retirement Benefits [Abstract]
Average earnings			5 years
Contributions	$ 150	$ 150	$ 450	$ 450

Retirement Plans - Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Retirement Benefits [Abstract]
Administrative expenses	$ 47	$ 64	$ 141	$ 190
Interest cost	207	192	621	577
Expected return on plan assets	(272)	(267)	(816)	(803)
Prior service cost	11	11	33	33
Recognized actuarial loss	101	176	302	526
Net periodic benefit cost	$ 94	$ 176	$ 281	$ 523

Stock-based Compensation (Details) - Stock-Based Compensation - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			9 Months Ended		12 Months Ended
	Jan. 31, 2019	Dec. 31, 2018	Jan. 31, 2018	Jul. 31, 2019	Jul. 31, 2018	Oct. 31, 2018
Minimum
Class of Stock [Line Items]
Vesting period				2 years
Maximum
Class of Stock [Line Items]
Vesting period				5 years
Management
Class of Stock [Line Items]
Vesting period						2 years
Shares granted (in shares)		40,094
Common stock per share (in dollars per share)		$ 18.74
Cost from stock compensation						$ 751
Share-based compensation expense						$ 343
Key Executives
Class of Stock [Line Items]
Vesting period						3 years
Shares granted (in shares)		90,000
Common stock per share (in dollars per share)		$ 19.84
Cost from stock compensation						$ 1,786
Non-Employee Directors
Class of Stock [Line Items]
Shares granted (in shares)	15,642		14,033
Share-based compensation expense				$ 339	$ 309

Segment Information - Narrative (Details)	9 Months Ended
Segment Information - Narrative (Details)	Jul. 31, 2019 segment
Segment Reporting [Abstract]
Number of reportable segments	6

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Segment Reporting Information [Line Items]
Net revenues	$ 50,869	$ 39,950	$ 134,922	$ 114,678
Costs and expenses	46,671	26,749	130,502	90,401
Depreciation and amortization	2,080	1,776	6,327	5,210
Operating income (loss)	2,118	11,425	(1,907)	19,067
Eliminations
Segment Reporting Information [Line Items]
Net revenues	(10,263)	(6,340)	(25,464)	(18,416)
Costs and expenses	(10,263)	(6,340)	(25,464)	(18,416)
Depreciation and amortization	0	0	0	0
Operating income (loss)	0	0	0	0
Operating Segments
Segment Reporting Information [Line Items]
Net revenues	50,869	39,950	134,922	114,678
Corporate and Other
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Costs and expenses	4,899	3,454	14,627	11,369
Depreciation and amortization	62	59	192	160
Operating income (loss)	(4,961)	(3,513)	(14,819)	(11,529)
Total Agribusiness
Segment Reporting Information [Line Items]
Net revenues	49,631	38,677	131,254	110,875
Costs and expenses	40,924	22,460	113,190	76,477
Depreciation and amortization	1,823	1,523	5,551	4,466
Operating income (loss)	6,884	14,694	12,513	29,932
Total Agribusiness \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Total Agribusiness \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	49,631	38,677	131,254	110,875
Fresh Lemons
Segment Reporting Information [Line Items]
Net revenues	41,169	28,457	108,090	83,994
Costs and expenses	35,653	18,872	95,650	64,363
Depreciation and amortization	0	0	0	0
Operating income (loss)	5,516	9,585	12,440	19,631
Fresh Lemons \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Fresh Lemons \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	41,169	28,457	108,090	83,994
Lemon Packing
Segment Reporting Information [Line Items]
Net revenues	5,232	2,279	13,289	8,120
Costs and expenses	13,524	6,033	32,972	18,927
Depreciation and amortization	0	0	0	0
Operating income (loss)	1,971	2,586	5,781	7,609
Lemon Packing \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	10,263	6,340	25,464	18,416
Lemon Packing \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	15,495	8,619	38,753	26,536
Avocados
Segment Reporting Information [Line Items]
Net revenues	2,519	5,643	3,062	6,578
Costs and expenses	1,185	1,829	2,822	3,408
Depreciation and amortization	0	0	0	0
Operating income (loss)	1,334	3,814	240	3,170
Avocados \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Avocados \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	2,519	5,643	3,062	6,578
Other Agribusiness
Segment Reporting Information [Line Items]
Net revenues	711	2,298	6,813	12,183
Costs and expenses	825	2,066	7,210	8,195
Depreciation and amortization	0	0	0	0
Operating income (loss)	(114)	232	(397)	3,988
Other Agribusiness \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Other Agribusiness \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	711	2,298	6,813	12,183
Rental Operations
Segment Reporting Information [Line Items]
Net revenues	1,238	1,273	3,668	3,803
Costs and expenses	798	810	2,583	2,461
Depreciation and amortization	195	194	584	584
Operating income (loss)	245	269	501	758
Rental Operations \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Rental Operations \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	1,238	1,273	3,668	3,803
Real Estate Development
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Costs and expenses	50	25	102	94
Depreciation and amortization	0	0	0	0
Operating income (loss)	(50)	(25)	(102)	(94)
Real Estate Development \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Real Estate Development \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	$ 0	$ 0	$ 0	$ 0

Segment Information - Segment Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2019	Jul. 31, 2018	Jul. 31, 2019	Jul. 31, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental operations revenues	$ 1,238	$ 1,273	$ 3,668	$ 3,803
Total net revenues	50,869	39,950	134,922	114,678
Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	50,869	39,950	134,922	114,678
Intersegment revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	(10,263)	(6,340)	(25,464)	(18,416)
Total net revenues	(10,263)	(6,340)	(25,464)	(18,416)
Lemon revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	46,401	30,736	121,379	92,114
Fresh lemons
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	41,169	28,457	108,090	83,994
Fresh lemons \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	41,169	28,457	108,090	83,994
Total net revenues	41,169	28,457	108,090	83,994
Fresh lemons \| Intersegment revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	0	0	0	0
Lemon packing
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	5,232	2,279	13,289	8,120
Lemon packing \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	15,495	8,619	38,753	26,536
Total net revenues	15,495	8,619	38,753	26,536
Lemon packing \| Intersegment revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	10,263	6,340	25,464	18,416
Avocados
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	2,519	5,643	3,062	6,578
Avocados \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	2,519	5,643	3,062	6,578
Total net revenues	2,519	5,643	3,062	6,578
Avocados \| Intersegment revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	0	0	0	0
Other agribusiness
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	711	2,298	6,813	12,183
Other agribusiness \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	711	2,298	6,813	12,183
Total net revenues	711	2,298	6,813	12,183
Other agribusiness \| Intersegment revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	0	0	0	0
Agribusiness
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	49,631	38,677	131,254	110,875
Total net revenues	49,631	38,677	131,254	110,875
Agribusiness \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	49,631	38,677	131,254	110,875
Agribusiness \| Intersegment revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	0	0	0	0
Rental operations
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	1,238	1,273	3,668	3,803
Rental operations \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental operations revenues	1,238	1,273	3,668	3,803
Total net revenues	1,238	1,273	3,668	3,803
Rental operations \| Intersegment revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	0	0	0	0
Real estate development
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	0	0	0	0
Real estate development \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	0	0	0	0
Total net revenues	0	0	0	0
Real estate development \| Intersegment revenue
Segment Reporting, Revenue Reconciling Item [Line Items]
Total net revenues	0	0	0	0
Agribusiness
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	49,631	38,677	131,254	110,875
Navel and Valencia oranges \| Other agribusiness \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	711	1,986	3,794	8,552
Specialty citrus and other crops \| Other agribusiness \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	0	312	3,019	3,631
Residential and commercial rentals \| Rental operations \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental operations revenues	928	881	2,690	2,609
Leased land \| Rental operations \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental operations revenues	224	304	717	958
Organic recycling and other \| Rental operations \| Operating segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Rental operations revenues	86	$ 88	261	$ 236
Difference between Revenue Guidance in Effect before and after Topic 606 \| ASU 2014-09 \| Agribusiness
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,781		2,201
Difference between Revenue Guidance in Effect before and after Topic 606 \| ASU 2014-09 \| Agribusiness \| Fresh lemons
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 1,781		$ 2,201