0001342423-21-000006 | 10-K | XBRL Viewer

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Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Oct. 31, 2020	Dec. 31, 2020	Apr. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Oct. 31, 2020
Document Transition Report	false
Entity File Number	001-34755
Entity Registrant Name	LIMONEIRA COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0260692
Entity Address, Address Line One	1141 Cummings Road
Entity Address, City or Town	Santa Paula
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	93060
City Area Code	805
Local Phone Number	525-5541
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	LMNR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
ICFR Auditor Attestation Flag	true
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 205.6
Entity Common Stock, Shares Outstanding		17,654,708
Documents Incorporated by Reference	Portions of the Registrant’s Proxy Statement for the 2021 Annual Meeting of Stockholders, which we intend to hold on March 23, 2021, are incorporated by reference into Part III of this Annual Report on Form 10-K. The definitive Proxy Statement will be filed within 120 days after October 31, 2020.
Entity Central Index Key	0001342423
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--10-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Current assets:
Cash	$ 501	$ 616
Accounts receivable, net	16,261	15,114
Cultural costs	6,865	7,223
Prepaid expenses and other current assets	10,688	8,153
Receivables/other from related parties	2,294	2,985
Income taxes receivable	5,911	979
Total current assets	42,520	35,070
Property, plant and equipment, net	242,649	248,114
Real estate development	21,636	17,602
Equity in investments	61,214	58,223
Investment in Calavo Growers, Inc.	0	17,346
Goodwill	1,535	1,839
Intangible assets, net	11,309	12,407
Other assets	8,737	9,266
Total assets	389,600	399,867
Current liabilities:
Accounts payable	5,838	4,974
Growers payable	8,126	14,500
Accrued liabilities	7,947	8,261
Payables to related parties	6,273	906
Current portion of long-term debt	3,277	3,023
Total current liabilities	31,461	31,664
Long-term liabilities:
Long-term debt, less current portion	122,571	105,892
Deferred income taxes	22,430	24,346
Other long-term liabilities	6,568	5,467
Total liabilities	183,030	167,369
Commitments and contingencies	0	0
Stockholders' equity:
Common Stock – $0.01 par value (39,000,000 shares authorized: 17,857,707 and 17,756,180 shares issued and 17,606,730 and 17,756,180 shares outstanding at October 31, 2020 and 2019, respectively)	179	178
Additional paid-in capital	162,084	160,254
Retained earnings	30,797	53,089
Accumulated other comprehensive loss	(7,548)	(7,255)
Treasury stock, at cost, 250,977 shares at October 31, 2020	(3,493)	0
Noncontrolling interest	13,741	15,422
Total stockholders' equity	195,760	221,688
Total Liabilities and Stockholders' Equity	$ 389,600	$ 399,867
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	39,000,000	39,000,000
Treasury stock (in shares)	250,977
Series B Convertible Preferred Stock
Long-term liabilities:
Convertible preferred stock	$ 1,479	$ 1,479
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 100.00	$ 100.00
Shares of preferred stock authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)	14,790	14,790
Preferred stock coupon rate (percentage)	8.75%	8.75%
Preferred stock, shares outstanding (in shares)	14,790
Series B-2 Convertible Preferred Stock
Long-term liabilities:
Convertible preferred stock	$ 9,331	$ 9,331
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 100.00	$ 100.00
Shares of preferred stock authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	9,300	9,300
Preferred stock coupon rate (percentage)	4.00%	4.00%
Preferred stock, shares outstanding (in shares)	9,300	9,300
Temporary Equity, Liquidation Preference Per Share	$ 1,000	$ 1,000
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 October 31, 2020 and 2019)	$ 0	$ 0
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Shares of preferred stock authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
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)	17,857,707	17,756,180
Common stock, shares outstanding (in shares)	17,606,730	17,756,180
Treasury stock (in shares)	250,977
Series B Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100.00	$ 100.00
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
Preferred stock coupon rate (percentage)	8.75%	8.75%
Series B-2 Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100.00	$ 100.00
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
Preferred stock coupon rate (percentage)	4.00%	4.00%
Liquidation preference per share (in dollars per share)	$ 1,000	$ 1,000
Series A Junior Participating Preferred Stock
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 - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Net revenues:
Agribusiness	$ 159,937	$ 166,549	$ 124,344
Other operations	4,622	4,849	5,048
Total net revenues	164,559	171,398	129,392
Costs and expenses:
Agribusiness	157,281	152,372	98,083
Other operations	4,504	4,439	4,212
Impairment of real estate development assets	0	0	1,558
Loss (gain) on sale and disposal of property assets	502	(1,069)	0
Selling, general and administrative	21,280	21,170	16,053
Total costs and expenses	183,567	176,912	119,906
Operating (loss) income	(19,008)	(5,514)	9,486
Other (expense) income:
Interest income	362	207	201
Interest expense	(2,048)	(2,341)	(1,323)
Equity in earnings of investments, net	339	3,073	583
(Loss) gain on stock in Calavo Growers, Inc.	(6,299)	(2,117)	4,223
Other income, net	219	129	313
Total other (expense) income	(7,427)	(1,049)	3,997
(Loss) income before income tax benefit	(26,435)	(6,563)	13,483
Income tax benefit	8,494	1,097	6,729
Net (loss) income	(17,941)	(5,466)	20,212
Loss (income) attributable to noncontrolling interest	1,506	(477)	(24)
Net (loss) income attributable to Limoneira Company	(16,435)	(5,943)	20,188
Preferred dividends	(501)	(501)	(501)
Net (loss) income applicable to common stock	$ (16,936)	$ (6,444)	$ 19,687
Basic net income per common share (in dollars per share)	$ (0.96)	$ (0.37)	$ 1.26
Diluted net income per common share (in dollars per share)	$ (0.96)	$ (0.37)	$ 1.25
Weighted-average common shares outstanding-basic (in shares)	17,666	17,580	15,581
Weighted-average common shares outstanding-diluted (in shares)	17,666	17,580	16,209
Revenue, Product and Service [Extensible List]	lmnr:AgribusinessMember

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (17,941)	$ (5,466)	$ 20,212
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(707)	(1,103)	(1,255)
Minimum pension liability adjustments, net of tax of $(69), $(252) and $415	274	(607)	1,137
Residual state tax effects on sale of equity securities	140	0	0
Unrealized holding gains on security available for sale, net of tax of $0, $0 and $1,956	0	0	4,809
Reclassification of unrealized gain on security sold, net of tax of $0, $0 and $(1,160)	0	0	(2,965)
Unrealized gains from derivative instruments, net of tax of $0, $0 and $79	0	0	163
Total other comprehensive (loss) income, net of tax	(293)	(1,710)	1,889
Comprehensive (loss) income	(18,234)	(7,176)	22,101
Comprehensive loss (income) attributable to noncontrolling interest	1,536	438	(13)
Comprehensive (loss) income attributable to Limoneira Company	$ (16,698)	$ (6,738)	$ 22,088

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Minimum pension liability adjustments, tax	$ (69)	$ (252)	$ 415
Unrealized holding gains on security available for sale, tax	0	0	1,956
Reclassification of unrealized gain on security sold, tax	0	0	(1,160)
Unrealized gains from derivative instruments, tax	$ 0	$ 0	$ 79

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY AND TEMPORARY EQUITY - USD ($) $ in Thousands	Total	Series B Preferred Stock	Series B-2 Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect Adjustment	Retained Earnings Series B Preferred Stock	Retained Earnings Series B-2 Preferred Stock	Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Cumulative Effect Adjustment	Treasury Stock	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		$ 0	$ 587
Beginning balance, temporary equity at Oct. 31, 2017		$ 1,479	$ 9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends - common	(4,025)					(4,025)
Dividends - preferred		(129)	(372)					$ (129)	$ (372)
Stock compensation (in shares)				145,324
Stock compensation	1,368			$ 1	1,367
Exchange of common stock (in shares)				(39,582)
Exchange of common stock	$ (656)				(656)
Issuance of common stock (in shares)	3,136,362
Issuance of common stock	$ 64,097			$ 31	64,066
Noncontrolling interest	(37)												(37)
Net income	20,212					20,188							24
Other comprehensive income, net of tax	1,889									1,889
Ending balance (in shares) at Oct. 31, 2018				17,647,135
Ending balance at Oct. 31, 2018	219,140			$ 176	159,071	50,354				8,965		0	574
Ending balance (ASU 2016-01) at Oct. 31, 2018							$ 15,921				$ (15,921)
Ending balance (ASU 2018-02) at Oct. 31, 2018							$ (1,411)				$ 1,411
Ending balance, temporary equity at Oct. 31, 2018		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends - common	(5,331)					(5,331)
Dividends - preferred		(129)	(372)					(129)	(372)
Stock compensation (in shares)				145,737
Stock compensation	1,791			$ 2	1,789
Exchange of common stock (in shares)				(36,692)
Exchange of common stock	(606)				(606)
Issuance of common stock (in shares)				0
Issuance of common stock	0			$ 0	0
Acquired noncontrolling interest	14,410												14,410
Net income	(5,466)					(5,943)							477
Other comprehensive income, net of tax	(1,749)									(1,710)			(39)
Ending balance (in shares) at Oct. 31, 2019				17,756,180
Ending balance at Oct. 31, 2019	221,688			$ 178	160,254	53,089				(7,255)		0	15,422
Ending balance, temporary equity at Oct. 31, 2019		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends - common	(5,356)
Dividends - preferred		(129)	(372)					$ (129)	$ (372)
Stock compensation (in shares)				112,841
Stock compensation	2,044			$ 1	2,043
Exchange of common stock (in shares)				(11,314)
Exchange of common stock	(213)				(213)
Noncontrolling interest	$ (145)												(145)
Treasury shares (in shares)	(250,977)			(250,977)
Treasury shares	$ (3,493)											(3,493)
Net income	(17,941)					(16,435)							(1,506)
Other comprehensive income, net of tax	(323)									(293)			(30)
Ending balance (in shares) at Oct. 31, 2020				17,606,730
Ending balance at Oct. 31, 2020	$ 195,760			$ 179	$ 162,084	$ 30,797				$ (7,548)		$ (3,493)	$ 13,741
Ending balance, temporary equity at Oct. 31, 2020		$ 1,479	$ 9,331

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY AND TEMPORARY EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Dividends on common stock (in dollars per share)	$ 0.30	$ 0.30	$ 0.25
Series B Preferred Stock
Dividends on preferred stock (in dollars per share)	8.75	8.75	8.75
Series B-2 Preferred Stock
Dividends on preferred stock (in dollars per share)	$ 40	$ 40	$ 40

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Operating activities
Net (loss) income	$ (17,941)	$ (5,466)	$ 20,212
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	10,097	8,633	7,275
Impairment of real estate development assets	0	0	1,558
Loss (gain) on sale and disposals of property assets	502	(1,069)	153
Stock compensation expense	2,044	1,791	1,368
Non-cash lease expense	470	0	0
Equity in earnings of investments	(339)	(3,073)	(583)
Cash distributions from equity investments	0	351	526
Deferred income taxes	(2,133)	(773)	(7,307)
Loss (gain) on stock in Calavo Growers, Inc.	6,299	2,117	(4,223)
Other, net	671	(393)	(64)
Changes in operating assets and liabilities, net of business combinations:
Account receivable and receivables/other from related parties	(309)	(4,012)	(3,235)
Cultural costs	359	1,447	(746)
Prepaid expenses and other current assets	(44)	(2,548)	99
Income taxes receivable	(4,932)	(601)	192
Other assets	411	(7)	(134)
Accounts payable and growers payable	(5,545)	3,392	707
Accrued liabilities and payables to related parties	(685)	1,459	2,601
Other long-term liabilities	(242)	117	(2)
Net cash (used in) provided by operating activities	(11,317)	1,365	18,397
Investing activities
Capital expenditures	(10,599)	(15,867)	(13,873)
Purchase of real estate development parcel	0	0	(1,444)
Net proceeds from sales of property assets	6,261	3,978	0
Net proceeds from sales of real estate development assets	0	2,886	1,543
Agriculture property acquisitions	0	(397)	(13,111)
Business combinations	0	(15,000)	(25,000)
Net proceeds from sale of stock in Calavo Growers, Inc.	11,048	4,785	4,721
Loan to Limoneira Lewis Community Builders, LLC	(1,800)	0	0
Collections on loan and note receivable	1,800	150	200
Equity investment contributions	(2,800)	(4,000)	(3,500)
Cash distribution from equity investment	0	283	0
Investments in mutual water companies and water rights	(64)	(472)	(343)
Net cash provided by (used in) investing activities	3,846	(23,654)	(50,807)
Financing activities
Borrowings of long-term debt	121,056	122,899	167,356
Repayments of long-term debt	(104,066)	(93,994)	(193,723)
Dividends paid - common	(5,356)	(5,331)	(4,025)
Dividends paid - preferred	(501)	(501)	(501)
Exchange of common stock	(213)	(605)	(656)
Purchase of treasury stock	(3,493)	0	0
Issuance of common stock	0	0	64,097
Payments of deferred financing costs	(66)	(35)	0
Net cash provided by financing activities	7,361	22,433	32,548
Effect of exchange rate changes on cash	(5)	(137)	(21)
Net increase in cash	(115)	7	117
Cash at beginning of year	616	609	492
Cash at end of year	501	616	609
Supplemental disclosures of cash flow information
Net cash paid during the year for interest, net of amounts capitalized	1,865	2,532	1,585
Cash paid during the year for income taxes, net of (refunds received)	(1,235)	130	210
Non-cash investing and financing activities:
Unrealized holding gain on Calavo investment	0	0	(6,765)
Decrease in real estate development and sale-leaseback deferral	0	(58,330)	27,934
Increase in equity in investments and other long-term liabilities	0	0	1,080
Non-cash receipt of note receivable	0	0	3,000
Non-cash reduction of note receivable	0	89	79
Capital expenditures accrued but not paid at year-end	4,269	1,333	399
Non-cash issuance of notes payable	$ 0	$ 0	$ 1,435

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands		1 Months Ended
	Feb. 28, 2018 USD ($)	Dec. 31, 2018 USD ($)	Oct. 31, 2017 USD ($)	Feb. 28, 2013 a
Decrease in real estate development and sale lease-back deferral		$ 58,330
Reclassification from joint venture to equity in investments		$ 33,353
Centennial
Real estate development held-for-sale			$ 3,250
East Area II
Area of real estate property (acres) \| a				7
Real estate, net	$ 3,145
Payment to acquire and develop real estate	1,444
Notes payable	$ 1,435

Business	12 Months Ended
Business	Oct. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	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 the majority 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. Calavo packs the Company's avocados, which are then sold and distributed under Calavo brands to its customers.

Summary of Significant Accounting Policies

12 Months Ended

Oct. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and the accounts of all the subsidiaries and investments in which the Company holds a controlling interest. The consolidated financial statements represent the consolidated balance sheets, statements of operations, statements of comprehensive income, statements of stockholders’ equity and temporary equity and statements of cash flows of Limoneira Company and consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company considers the criteria established under the Financial Accounting Standards Board (“FASB”) – Accounting Standards Code (“ASC”) 810, Consolidations, and the effect of variable interest entities, in its consolidation process.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Accounts Receivable

The Company grants credit in the course of its operations to cooperatives, companies and lessees of the Company’s facilities. The Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company provides allowances on its receivables as required based on accounts receivable aging and other factors. At October 31, 2020 and 2019 the allowances totaled $812,000 and $631,000, respectively. For fiscal years 2020, 2019 and 2018, credit losses were insignificant.

Concentrations and Geographic Information

The Company sells the majority of its avocado production to Calavo. Sales of avocados to Calavo were $8,806,000, $3,080,000 and $6,576,000 in fiscal years 2020, 2019 and 2018, respectively. The Company sells the majority of its oranges and specialty citrus to a third-party packinghouse.

Concentrations of credit risk with respect to revenues and trade receivable are limited due to a large, diverse customer base. One individual customer represented 10% of revenue for the year ended October 31, 2020. One individual customer represented more than 10% of accounts receivable, net as of October 31, 2020, respectively.

Lemons procured from third-party growers were approximately 60%, 60% and 45% of the Company's lemon supply in fiscal years 2020, 2019 and 2018, respectively. One third-party grower was 39% and 40% of grower payable at October 31, 2020 and 2019, respectively.

The Company maintains its cash in federally insured financial institutions. The account balances at these institutions periodically exceed Federal Deposit Insurance Corporation (“FDIC”) insurance coverage and, as a result, there is a concentration of risk related to amounts on deposit in excess of FDIC insurance coverage.

2. Summary of Significant Accounting Policies (continued)

Concentrations and Geographic Information (continued)

During fiscal years 2020, 2019 and 2018, the Company had approximately $3,521,000, $3,204,000 and $2,800,000, respectively, of total sales in Chile by Fruticola Pan de Azucar S.A. (“PDA”) and Agricola San Pablo SpA. ("San Pablo"). During fiscal years 2020 and 2019, the Company had approximately $14,150,000 and $14,651,000, respectively, of total sales in Argentina by Trapani Fresh. The majority of our avocados, oranges and specialty citrus and other crops are sold to packinghouses and processors located in the United States. Most of our long-lived assets are located within the United States. Long-lived assets, net of accumulated depreciation, located in Chile were $15,261,000 and $15,600,000 as of October 31, 2020 and 2019, respectively, and located in Argentina were $18,576,000 and $18,700,000 as of October 31, 2020 and 2019, respectively.

Cultural Costs

Growing costs, also referred to as cultural costs, consist of orchard maintenance costs such as cultivation, fertilization and soil amendments, pest control, pruning and irrigation. Harvest costs are comprised of labor and equipment expenses incurred to harvest and deliver crops to the packinghouses.

Certain of the Company's crops have distinct growing periods and distinct harvest and selling periods, each of which lasts approximately four to eight months. During the growing period, cultural costs are capitalized as they are associated with benefiting and preparing the crops for the harvest and selling period. During the harvest and selling period, harvest costs and cultural costs are expensed when incurred and capitalized cultural costs are amortized as components of agribusiness costs and expenses.

Due to climate, growing conditions and the types of crops grown, certain of the Company's other crops may be harvested and sold on a year-round basis. Accordingly, the Company does not capitalize cultural costs associated with these crops and therefore such costs, as well as harvest costs associated with these crops, are expensed to operations when incurred as components of agribusiness costs and expenses.

Most cultural costs, including amortization of capitalized cultural costs, and harvest costs are associated with and charged to specific crops. Certain other costs, such as property taxes, indirect labor, including farm supervision and management, and irrigation that benefit multiple crops are allocated to crops on a per acre basis.

Income Taxes

Deferred income tax assets and liabilities are computed annually for differences between the financial statement and income tax basis of assets and liabilities that will result in taxable or deductible amounts in the future. Such deferred income tax asset and liability computations are based on enacted tax laws and rates applicable to periods in which the differences are expected to affect taxable income. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount expected to be realized.

Tax benefits from an uncertain tax position are only recognized if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.

Property, Plant and Equipment

Property, plant and equipment is stated at original cost, net of accumulated depreciation. Depreciation is computed using the straight-line method at rates based upon the estimated useful lives of the related assets as follows (in years):


Land improvements			10 – 30
Buildings and building improvements			10 – 50
Equipment			5 – 20
Orchards and vineyards			20 – 40

Costs of planting and developing orchards are capitalized until the orchards become commercially productive. Planting costs consist primarily of the costs to purchase and plant nursery stock. Orchard development costs consist primarily of maintenance costs of orchards such as cultivation, pruning, irrigation, labor, spraying and fertilization, and interest costs during the development period. The Company ceases the capitalization of costs and commences depreciation when the orchards become commercially productive and orchard maintenance costs are accounted for as cultural costs as described above.

2. Summary of Significant Accounting Policies (continued)

Capitalized Interest

Interest is capitalized on real estate development projects and significant construction in progress using the weighted average interest rate during the fiscal year. Interest of $921,000 and $1,369,000 was capitalized during the years ended October 31, 2020 and 2019, respectively, and is included in property, plant, and equipment and real estate development assets in the Company’s consolidated balance sheets.

Real Estate Development Costs

The Company capitalizes the planning, entitlement, construction, development costs and interest associated with its various real estate projects. Costs that are not capitalized, which include property maintenance and repairs, general and administrative and marketing expenses, are expensed as incurred. A real estate development project is considered substantially complete upon the cessation of construction and development activities. Once a project is substantially completed, future costs are expensed as incurred. The Company capitalized costs related to its real estate projects of $4,034,000 and $1,797,000 in fiscal years 2020 and 2019, respectively.

Equity in Investments

Investments in unconsolidated joint ventures in which the Company has significant influence but less than a controlling interest, or is not the primary beneficiary if the joint venture is determined to be a Variable Interest Entity (“VIE”), are accounted for under the equity method of accounting and, accordingly, are adjusted for capital contributions, distributions and the Company’s equity in net earnings or loss of the respective joint venture.

Equity Securities

The Company’s equity securities, are stated at fair value with unrealized gains (losses) reported in net income. The Company has no equity securities as of October 31, 2020. At October 31, 2019, equity securities were comprised of the Company’s investment in Calavo.

Long-Lived and Intangible Assets

Intangible assets consist primarily of customer relationships, trade names and trademarks and a non-competition agreement. The Company’s definite-life intangible assets are being amortized on a straight-line basis over their estimated lives ranging from eight to nine years. Acquired water and mineral rights are indefinite-life assets not subject to amortization. Assets held for sale are carried at the lower of cost or fair value less estimated cost to sell.

The Company evaluates long-lived assets, including its definite-life intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If the estimated fair value or undiscounted future cash flows from the use of an asset are less than the carrying value of that asset, a write-down is recorded to reduce the carrying value of the asset to its fair value. The Company evaluates its indefinite-life intangible assets annually or whenever events or changes in circumstances indicate an impairment of the assets’ value may exist.

Goodwill

Goodwill is tested for impairment on an annual basis or when an event or changes in circumstances indicate that its carrying value may not be recoverable. Goodwill impairment is tested at the reporting unit level, which is defined as an operating segment or one level below the operating segment. 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 is 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. Goodwill impairment testing involves significant judgment and estimates. The annual assessment of goodwill impairment was performed as of July 31, 2020 with no impairment recorded.

Fair Values of Financial Instruments

The fair values of financial instruments are based on level-one indicators within the fair value hierarchy or quoted market prices, where available, or are estimated using the present value or other valuation techniques. Estimated fair values are significantly affected by the assumptions used.

2. Summary of Significant Accounting Policies (continued)

Fair Values of Financial Instruments (continued)

Accounts receivable, note receivable, accounts payable, growers payable and accrued liabilities reported on the Company’s consolidated balance sheets approximate their fair values due to the short-term nature of the instruments.

Based on the borrowing rates currently available to the Company for bank loans with similar terms and maturities, the fair value of long-term debt is approximately equal to its carrying amount as of October 31, 2020 and 2019.

Business Combinations and Asset Acquisitions

Business combinations are accounted for under the acquisition method in accordance with ASC 805, Business Combinations. The acquisition method requires identifiable assets acquired and liabilities assumed and any noncontrolling interest in the business acquired be recognized and measured at fair value on the acquisition date, which is the date that the acquirer obtains control of the acquired business. The amount by which the fair value of consideration transferred as the purchase price exceeds the net fair value of assets acquired and liabilities assumed is recorded as goodwill. Acquisitions that do not meet the definition of a business are accounted for as asset acquisitions. Asset acquisitions are accounted for by allocating the cost of the acquisition to the individual assets acquired and liabilities assumed on a relative fair value basis. Goodwill is not recognized in an asset acquisition with any consideration in excess of net assets acquired allocated to acquired assets on a relative fair value basis. Transaction costs are expensed in a business combination and are considered a component of the cost of the acquisition in an asset acquisition.

Comprehensive (Loss) Income

Comprehensive (loss) income represents all changes in a company’s net assets, except changes resulting from transactions with shareholders. Other comprehensive income or loss primarily includes foreign currency translation items, defined benefit pension items and unrealized gains or losses on available for sale securities. Accumulated other comprehensive (loss) income is reported as a component of the Company's stockholders' equity.

The following table summarizes the changes in other comprehensive (loss) income by component (in thousands):


	2020						2019						2018
	Pre-tax Amount		Tax (Expense) Benefit		Net Amount		Pre-tax Amount		Tax (Expense) Benefit		Net Amount		Pre-tax Amount		Tax (Expense) Benefit		Net Amount
Foreign currency translation adjustments	$	(707)	$	—	$	(707)	$	(1,103)	$	—	$	(1,103)	$	(1,255)	$	—	$	(1,255)
Minimum pension liability adjustments:
Other comprehensive (loss) gain before reclassifications	205		69		274		(859)		252		(607)		1,552		(415)		1,137

Available-for-sale securities:
Other comprehensive (loss) gain before reclassifications	—		—		—		—		—		—		6,765		(1,956)		4,809
Amounts reclassified to earnings included in "Selling, general and administrative"	—		140		140		—		—		—		(4,125)		1,160		(2,965)
Derivative instruments:
Other comprehensive gain before reclassifications	—		—		—		—		—		—		242		(79)		163

Other comprehensive (loss) income	$	(502)	$	209	$	(293)	$	(1,962)	$	252	$	(1,710)	$	3,179	$	(1,290)	$	1,889

2. Summary of Significant Accounting Policies (continued)

Accumulated Other Comprehensive (Loss) Income

The following table summarizes the changes in accumulated other comprehensive (loss) income by component (in thousands):


	Foreign Currency Translation Loss		Defined Benefit Pension Plan		Available-for-Sale Securities		Other		Accumulated Other Comprehensive (Loss) Income
Balance as of October 31, 2017	$	(2)	$	(4,375)	$	11,591	$	(138)	$	7,076
Other comprehensive (loss) income	(1,255)		1,137		1,844		163		1,889
Balance as of October 31, 2018	(1,257)		(3,238)		13,435		25		8,965
Adoption of ASU 2016-01	—		—		(15,921)		—		(15,921)
Adoption of ASU 2018-02	(2)		(908)		2,346		(25)		1,411
Balance as of November 1, 2018	(1,259)		(4,146)		(140)		—		(5,545)
Other comprehensive (loss) income	(1,103)		(607)		—		—		(1,710)
Balance as of October 31, 2019	(2,362)		(4,753)		(140)		—		(7,255)
Other comprehensive (loss) income	(707)		274		140		—		(293)
Balance as of October 31, 2020	$	(3,069)	$	(4,479)	$	—	$	—	$	(7,548)

Foreign Currency Translation

San Pablo and PDA’s functional currency is the Chilean Peso. Their balance sheets are translated to U.S. dollars at exchange rates in effect at the balance sheet date and their income statements are translated at average exchange rates during the reporting period. The resulting foreign currency translation adjustments are recorded as a separate component of accumulated other comprehensive (loss) income.

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 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.

2. Summary of Significant Accounting Policies (continued)

Revenue Recognition (continued)

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 within the fresh lemons segment of $8,827,000 for the year ended October 31, 2019. Had it used the previous revenue recognition guidance, the Company would have recorded insignificant net agribusiness revenue for these transactions for the year ended October 31, 2019. No cumulative adjustment to retained earnings was necessary as there is no net effect to the consolidated statement of operations.

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 the majority 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 the remaining avocados and 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 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

2. Summary of Significant Accounting Policies (continued)

Revenue Recognition (continued)

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.

Revenue from crop insurance proceeds is recorded when the amount can be reasonably determined and upon establishment of the present right to payment. The Company recorded agribusiness revenues from crop insurance proceeds of zero, $2,311,000 and $54,000 in fiscal years 2020, 2019 and 2018, respectively.

Rental Operations 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.

Advertising Expense

Advertising costs are expensed as incurred. Advertising costs were $239,000 in fiscal year 2020 and were not material in fiscal years 2019 and 2018.

Leases

Accounting for Operating Leases as a Lessee - In its ordinary course of business, the Company enters into leases as a lessee generally for agricultural land and packinghouse equipment. The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in other assets, accrued liabilities and other long-term liabilities on its consolidated balance sheets. Operating lease right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease, measured on a discounted basis. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As none of the Company’s leases provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments.

Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet as the Company has elected to recognize lease expense for these leases on a straight-line basis over the lease term. The Company has material leases with related parties which are further described in Note 15 - Related-Party Transactions.

Certain of the Company’s agricultural land agreements contain variable costs based on a percentage of the operating results of the leased property. Such variable lease costs are expensed as incurred. These land agreements also contain costs for non-lease components, such as water usage, which the Company accounts for separately from the lease components. For all other agreements, the Company generally combines lease and non-lease components in calculating the ROU assets and lease liabilities. See Note 13 - Leases for additional information.

Accounting for Leases as a Lessor - Leases in which the Company acts as the lessor include land, residential and commercial units and are all classified as operating leases. Certain of the Company’s contracts contain variable income based on a percentage of the operating results of the leased asset. Certain of the Company’s contracts contain non-lease components such as water, utilities and common area services. The Company has elected to not separate lease and non-lease components for its lessor arrangements and the combined component is accounted for entirely under ASC 842, Leases. The underlying asset in an operating lease arrangement is carried at depreciated cost within property, plant, and equipment, net on the consolidated balance sheets. Depreciation is calculated using the straight-line method over the useful life of the underlying asset. The Company recognizes operating lease revenue on a straight-line basis over the lease term.

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 preferred stock. Diluted net (loss) income per common share is calculated using the weighted-average number of common shares outstanding plus the dilutive effect of conversion of preferred stock. The Series B and Series B-2 convertible preferred shares were anti-dilutive for fiscal years ended October 31, 2020 and 2019 and dilutive for fiscal year ended October 31, 2018.

2. Summary of Significant Accounting Policies (continued)

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

Unvested stock-based compensation awards that contain non-forfeitable rights to dividends as participating shares are included in computing earnings per share using the treasury stock method. The Company’s unvested, restricted stock awards qualify as participating shares.

Reclassifications and Adjustments

Certain reclassifications have been made to the prior years’ consolidated financial statements to conform to the October 31, 2020 presentation. The Company reclassified receivables/other from related parties and payables to related parties of $2,985,000 and $906,000, respectively, as of October 31, 2019, from accounts receivable, net, and accrued liabilities, respectively. The Company reclassified certain components within cash provided by operating activities within the statements of cash flows.

Defined Benefit Retirement Plan

The Company sponsors a defined benefit retirement plan that was frozen in June 2004, and no future benefits have been accrued to participants subsequent to that time. Ongoing accounting for this plan under FASB ASC 715, Compensation – Retirement Benefits, provides guidance as to, among other things, future estimated pension expense, pension liability and minimum funding requirements. This information is provided to the Company by third-party actuarial consultants. In developing this data, certain estimates and assumptions are used, including among other things, discount rate, long-term rate of return and mortality tables.

During 2020, the Society of Actuaries (SOA) released a new mortality improvement scale table, referred to as MP-2020, which is believed to better reflect mortality improvements and is to be used in calculating defined benefit pension obligations. In addition, during fiscal year 2020, the assumed discount rate to measure the pension obligation decreased to 2.5%. The Company used the latest mortality tables released by the SOA through October 2020 to measure its pension obligation as of October 31, 2020 and combined with the assumed discount rate and other demographic assumptions, its pension liability increased by approximately $508,000 as of October 31, 2020. Further changes in any of these estimates could materially affect the amounts recorded that are related to our defined benefit retirement plan.

Recent Accounting Pronouncements

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

In February 2016, the FASB issued ASU 2016-02, which requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. In July 2018, the FASB issued ASU 2018-11, which, among other things, provides administrative relief by allowing entities to implement the lease standard on a modified retrospective basis (the "Optional Transition Method"). Effectively, the Optional Transition Method permits companies to adopt the lease standard through a cumulative effect adjustment to their opening balance sheet on the date of adoption and report under the New Lease Standard on a post-adoption basis.

The Company adopted ASU 2016-02 effective November 1, 2019 using the Optional Transition Method. The Company elected the package of practical expedients permitted under the transition guidance, which allows the Company to carry forward its historical lease classification, its assessment of whether a contract is or contains a lease, and its initial direct costs for any leases that existed prior to adoption of the New Lease Standard. The Company elected the hindsight practical expedient, which permits the use of hindsight when determining lease term and impairment of ROU assets. The Company did not elect to combine lease and non-lease components for land leases but elected to combine lease and non-lease components for all other asset classes. The Company also elected to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in the consolidated statements of operations on a straight-line basis over the lease term. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company updated its accounting policies, processes and internal controls in order to meet the New Lease Standard's reporting and disclosure requirements.

The adoption of ASU 2016-02 had a material impact on the Company's consolidated balance sheets, but did not have a material impact on its consolidated statements of operations or its consolidated statements of cash flows. Upon adoption as of November 1, 2019, the Company recorded ROU assets of $2,400,000 and lease liabilities of $2,500,000 for operating leases in which the Company is a lessee. The adoption also included an immaterial reclassification of accrued rent liabilities against the ROU asset

2. Summary of Significant Accounting Policies (continued)

Recent Accounting Pronouncements (continued)

balance. As of November 1, 2019, there were no material finance leases for which the Company was a lessee. The adoption of ASU 2016-02 did not change the Company’s accounting for its operating leases in which it acts as the lessor. See Note 13 - Leases for additional information.

FASB ASU 2016-13, Financial Instruments -Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

This amendment requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses.

ASU 2016-13 is effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company will adopt this ASU effective November 1, 2020 and the adoption is not expected to have a material impact on its consolidated financial statements.

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 postretirement plans. For public business entities, the amendments are effective for fiscal years ending after December 15, 2020. The Company early adopted as of October 31, 2020 and there was no material impact on its consolidated financial statements other than the change in disclosures based on the new requirements.

FASB ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

This amendment removes specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether certain exceptions apply in a given period. The amendment also improves financial statement preparers’ application of income tax-related guidance and simplifies GAAP under certain situations. ASU 2019-12 is effective for public business entities, for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. An entity that elects early adoption in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption should adopt all the amendments in the same period. The Company early adopted this ASU as of November 1, 2019 and the adoption did not have a material impact on its consolidated financial statements.

FASB ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

This amendment simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument and more convertible preferred stock as a single equity instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted earnings per share (EPS) calculation in certain areas. ASU 2020-06 is effective for public business entities that meet the definition of a SEC filer for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2020. The Company is evaluating the effect this ASU may have on its consolidated financial statements.

2. Summary of Significant Accounting Policies (continued)

Recent Accounting Pronouncements (continued)

SEC Final Rule Release No. 33-10786, Amendments to Financial Disclosures About Acquired and Disposed Businesses

On May 20, 2020, the SEC issued a final rule that amends the financial statement requirements for acquisitions and dispositions of businesses, including real estate operations, and related pro forma financial information. As noted in the final rule, the amendments “are intended to improve for investors the financial information about acquired or disposed businesses, facilitate more timely access to capital, and reduce the complexity and costs to prepare the disclosure.” Among other changes, the final rule modifies the significance tests and improves the disclosure requirements for (1) acquired or to be acquired businesses, (2) real estate operations, and (3) pro forma financial information. The final rule is applicable for a registrant’s fiscal year beginning after December 31, 2020 with early application permitted. The Company early adopted the final rule effective July 31, 2020 and the adoption did not have a material impact on its consolidated financial statements.

Acquisitions

12 Months Ended

Oct. 31, 2020

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 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

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.

3. Acquisitions (continued)

Business Combinations (continued)

Trapani Fresh (continued)

Total consideration paid for the Company’s interest in Trapani Fresh was $15,000,000 and transaction costs of approximately $654,000 were included in selling, general and administrative expense during fiscal year 2019. The Company consolidated Trapani Fresh and 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 noncontrolling interest.

In February 2020, FGF agreed to a decrease in the purchase consideration of $152,000 to reflect profits that Limoneira Argentina would have received had the transaction been consummated at the beginning of the 2019 lemon export season. The Company recorded a receivable from FGF, a decrease in noncontrolling interest and a decrease in goodwill.

Below is a summary of the fair value of the net assets acquired on the acquisition date based on a third-party valuation which was updated during the second quarter of fiscal year 2020 (in thousands):


Cultural costs	$	3,270
Land and land improvements	9,520
Buildings and building improvements	870
Orchards	8,410
Customer relationships, trademarks and non-competition agreement (10 year useful life)	6,920
Goodwill	123
Total assets acquired	29,113
Noncontrolling interest	(14,265)
Net cash paid	$	14,848

Goodwill of $123,000 relates to synergies of the operations, was allocated to the fresh lemons segment and is not deductible for tax purposes. Revenue of $14,651,000 and net income of $999,000 of Trapani Fresh were included in the Company’s consolidated statement of operations from the acquisition date to the period ended October 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 years ended October 31, 2019 and 2018 would have resulted in revenues of $177,625,000 and $153,033,000, respectively, and net (loss) income of $(6,092,000) and $21,942,055, respectively.

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 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 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

3. Acquisitions (continued)

Business Combinations (continued)

Oxnard Lemon (continued)

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

12 Months Ended

Oct. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Under the FASB ASC 820, Fair Value Measurements 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 October 31, 2019, which were measured on a recurring basis during the period, segregated by level within the fair value hierarchy (in thousands):


2019	Level 1		Level 2		Level 3		Total
Assets at fair value:
Equity securities	$	17,346	$	—	$	—	$	17,346

Equity securities consist of marketable securities in Calavo common stock. At October 31, 2019, the Company owned 200,000 shares representing approximately 1.1% of Calavo’s outstanding common stock at a stock price of $86.73 per share. These securities were measured at fair value by quoted market prices and changes in fair value are included in the statement of operations.

In fiscal year 2020, the Company sold all 200,000 shares of Calavo common stock for a total of $11,048,000, recognizing a loss of $6,299,000. In fiscal year 2019, the Company sold 50,000 shares of Calavo common stock for a total of $4,785,000 recognizing a loss of $2,117,000. In fiscal year 2018, the Company sold 50,000 shares for a total of $4,721,000, recognizing a gain of $4,223,000.

- 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

Prepaid Expenses and Other Current Assets

12 Months Ended

Oct. 31, 2020

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

Prepaid Expenses And Other Current Assets

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following at October 31 (in thousands):


	2020		2019
Prepaid supplies and insurance	$	2,080	$	3,199
Note receivable and related interest	2,490		181
Real estate development held for sale	2,543		2,543

Sales tax receivable	1,867		1,061
Lemon supplier advances and other	1,708		1,169
	$	10,688	$	8,153

Property, Plant and Equipment

12 Months Ended

Oct. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consists of the following at October 31 (in thousands):


	2020		2019
Land	$	96,334	$	100,503
Land improvements	33,733		31,897
Buildings and building improvements	48,441		48,348
Equipment	60,124		56,709
Orchards	61,098		54,251
Construction in progress	20,469		26,934
	320,199		318,642
Less accumulated depreciation	(77,550)		(70,528)
	$	242,649	$	248,114

Depreciation expense was $9,098,000, $7,944,000 and $7,178,000 for fiscal years 2020, 2019 and 2018, respectively.

In August 2020, the Company sold property located in Lindsay, California. The Company received net proceeds of $6,011,000 after transaction and other costs, and recorded a loss of approximately $424,000, which is included in loss (gain) on sale and disposal of property assets in the consolidated statements of operations.

In September 2019, the Company sold its multi-use Mercantile property consisting of a retail convenience store, gas station, car wash and quick serve restaurant located in Santa Paula, California. The Company received net proceeds of $4,000,000 and recognized a gain of approximately $586,000, which is included in loss (gain) on sale and disposal of property assets in the consolidated statement of operations.

Real Estate Development

12 Months Ended

Oct. 31, 2020

Real Estate [Abstract]

Real Estate Development

Real estate development assets are comprised primarily of land and land development costs and consist of the following at October 31 (in thousands):


	2020		2019
Retained property - East Area I	$	13,169	$	11,943
East Area II	8,467		5,659
	$	21,636	$	17,602

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. In November 2015, 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 “LLCB” or “Joint Venture”) as the development entity, contributed its East Area I property to the LLCB and sold a 50% interest in the LLCB to Lewis for $20,000,000.

The Company and the Joint Venture also entered into a Retained Property Development Agreement (the "Retained Property Agreement"). Under the terms of the Retained Property Agreement, the Joint Venture will transfer certain contributed East Area I property, which is entitled for commercial development, back to the Company (the "Retained Property") and arrange for the design and construction of certain improvements to the Retained Property, subject to certain reimbursements by the Company. The balance includes estimated costs incurred by and reimbursable to LLCB of $5,300,000 at October 31, 2020, which is included in payables to related parties and $1,200,000 at October 31, 2019, which was included in other long-term liabilities.

7. Real Estate Development (continued)

East Areas I and II (continued)

In January 2018, the Joint Venture entered into a $45,000,000 unsecured Line of Credit Loan Agreement and Promissory Note (the “Loan”) with Bank of America, N.A. to fund early development activities. The Loan originally was scheduled to mature in January 2020 and was extended to February 22, 2021 per the terms thereof. The interest rate on the Loan is LIBOR plus 2.85%, payable monthly. The Loan contains certain customary default provisions and the Joint Venture may prepay any amounts outstanding under the Loan without penalty.

In February 2018, certain principals from Lewis and by the Company guaranteed the obligations under the Loan. The guarantee shall continue in effect until all of the Loan obligations are fully paid and the guarantors are jointly and severally liable for all Loan obligations in the event of default by the Joint Venture. The Joint Venture recorded the Loan balance of $30,368,000 as of October 31, 2020. The $1,080,000 estimated value of the guarantee was recorded in the Company’s consolidated balance sheets and is included in other long-term liabilities with a corresponding increase in equity in investments. The extension had no impact on the Company's guarantee value. Additionally, a Reimbursement Agreement was executed between the Lewis guarantors and the Company, which provides for unpaid liabilities of the Joint Venture to be shared pro-rata by the Lewis guarantors and the Company in proportion to their percentage interest in the Joint Venture.

In February 2020 the Company and Lewis each loaned $1,800,000 to the Joint Venture at an interest rate of 4.6%, which was repaid in June 2020.

In fiscal years 2020 and 2019, the Company announced that its Joint Venture closed the sales of residential lots representing 144 and 210 residential units, respectively.

Other Real Estate Development Projects

The remaining real estate development parcel within the Templeton Santa Barbara, LLC project is described as Sevilla. In the first quarter of fiscal year 2020, the Company entered into an agreement to sell its Sevilla property for $2,700,000, which is expected to close in fiscal year 2021. After transaction and other costs, the Company expects to receive cash proceeds of approximately $2,550,000 and recognize an immaterial gain upon closing. At October 31, 2020 and 2019, the $2,543,000 carrying value of the property was classified as held for sale and included in prepaid expenses and other current assets.

During December 2017, the Company sold its Centennial property with a net book value of $2,983,000 for $3,250,000. The Company received cash and a $3,000,000 promissory note secured by the property for the balance of the purchase. The promissory note was scheduled to mature in December 2019 but was extended to December 2020 and the interest was reset to equal to the 6-month LIBOR plus 2.75% on the outstanding principal balance of the note, interest only paid monthly on the first day of each month beginning January 1, 2020. In September 2020, the promissory note was further extended to June 15, 2021 on the same terms and conditions upon making a principal paydown of $25,000 on or before December 1, 2020 and an option to further extend the maturity date of the promissory note to December 15, 2021 on the same terms and conditions and upon making an additional principal paydown of $25,000 on or before June 1, 2021. At October 31, 2020 the carrying value of the note was $2,650,000 and classified in prepaid expenses and other current assets.

Equity in Investments

12 Months Ended

Oct. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity in Investments

Limco Del Mar, Ltd.

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. Based on the terms of the partnership agreement, the Company may be removed as general partner without cause from the partnership upon the vote of the limited partners owning an aggregate of 50% or more interest in the partnership. Since the Company has significant influence, but less than a controlling interest, the Company’s investment in Del Mar is accounted for using the equity method of accounting.

The Company provides Del Mar with farm management, orchard land development and accounting services and received expense reimbursements of $210,000, $159,000 and $163,000 in fiscal years 2020, 2019 and 2018, respectively. Del Mar markets lemons through the Company pursuant to its customary marketing agreements and the amount of lemons procured from Del Mar was $1,037,000, $1,674,000 and $2,361,000 in fiscal years 2020, 2019 and 2018, respectively. Fruit proceeds due to Del Mar were $334,000 and $554,000 at October 31, 2020 and 2019, respectively, and are included in grower’s payable in the accompanying consolidated balance sheets.

Romney Property Partnership

In May 2007, the Company and an individual formed the Romney Property Partnership (“Romney”) for the purpose of owning and leasing an office building and adjacent lot in Santa Paula, California. The Company paid $489,000 in 2007 for 75% interest in Romney. The terms of the partnership agreement affirm the status of the Company as a noncontrolling investor in the partnership since the Company cannot exercise unilateral control over the partnership. Since the Company has significant influence, but less than a controlling interest, the Company’s investment in Romney is accounted for using the equity method of accounting. Net profits, losses and cash flows of Romney are shared by the Company, which receives 75% and the individual, who receives 25%.

Rosales S.A.

The Company currently has a 47% equity interest in Rosales S.A, (“Rosales”) of which 35% was acquired in fiscal 2014 and an additional 12% interest was acquired with the purchase of PDA in fiscal 2017. Rosales is a citrus packing, marketing and sales business located in La Serena, Chile. In addition, the Company has the right to acquire the interest of the majority shareholder of Rosales upon death or disability of Rosales’ general manager for the fair value of the interest on the date of the event as defined in the shareholders’ agreement. Since the Company has significant influence, but less than a controlling interest, the Company’s investment in Rosales is accounted for using the equity method of accounting.

Rosales’ functional currency is the Chilean Peso. The following financial information has been translated to U.S. dollars. In addition, as a result of the Company’s acquisition of its equity interest, basis differences were identified between the historical cost of the net assets of Rosales and the proportionate fair value of the net assets acquired. Such basis differences aggregated to $1,683,000 on the acquisition date and are primarily comprised of intangible assets, including $343,000 of equity method goodwill. An additional $925,000 of basis differences were identified with the February 2017 PDA acquisition, including $143,000 of equity method goodwill. The $2,122,000 in basis differences exclusive of goodwill is being amortized over the estimated life of the underlying intangible assets as a reduction in the equity investment and an expense included in equity in earnings (losses) of investments. Amortization amounted to $180,000, $298,000 and $337,000 for fiscal years 2020, 2019 and 2018, respectively, and is estimated to be approximately $179,000, $118,000, $87,000, $76,000 and $32,000 per year for years ending October 31, 2021 through October 31, 2025, respectively, and $43,000 thereafter.

The Company recognized $3,975,000, $3,741,000 and $3,849,000 of lemon sales to Rosales in fiscal years 2020, 2019 and 2018, respectively. In fiscal years 2020, 2019 and 2018, the aggregate amount of lemons and oranges procured from Rosales was $3,190,000, $4,315,000 and $7,658,000, respectively. Amounts due (to) from Rosales were $(954,000) and $156,000 at October 31, 2020 and 2019, respectively.

8. Equity in Investments (continued)

Limoneira Lewis Community Builders, LLC (the “LLCB” or "Joint Venture")

As described in Note 7 – Real Estate Development of the notes to consolidated financial statements included in this Annual Report, on November 10, 2015, the Company entered into a Joint Venture with Lewis for the residential development of its East Area I real estate development project. In addition to the assessment performed by the Company of its investment in LLCB under the requirements of Regulation S-X Rule 4-08(g), the Company also assessed its investment in LLCB under the requirements of Regulation S-X Rule 3-09(b). LLCB was not deemed significant for the year ended October 31, 2020 but was deemed significant for the year ended October 31, 2019. Therefore, the audited financial statements of LLCB for the years ended October 31, 2020, 2019 and 2018 are provided as exhibits to this document to comply with this rule. Additionally, there is a basis difference between the Company’s historical investment in the project and the amount recorded in members’ capital by LLCB of $46,908,000 as of October 31, 2020. The basis difference of $10,234,000 at October 31, 2020 is primarily comprised of capitalized interest, amounts related to the loan guarantee and certain other costs incurred by Limoneira Company during the development period. This basis difference is being amortized as lots are sold utilizing the relative sales value method and the amount amortized in fiscal years 2020 and 2019 totaled $1,060,000 and $1,498,000, respectively. The Company's share of LLCB's net income for fiscal years 2020 and 2019 prior to basis amortization was $1,386,000 and $4,368,000, respectively.

The following is financial information of the equity method investees for fiscal years 2020, 2019 and 2018 (in thousands):


2020	Del Mar		Romney		Rosales		LLCB
Current assets	$	270	$	—	$	4,564	$	130,171
Non-current assets	$	817	$	670	$	2,218	$	—
Current liabilities	$	—	$	—	$	3,540	$	35,002
Non-current liabilities	$	—	$	—	$	1,449	$	—
Revenues	$	930	$	20	$	10,097	$	25,906
Operating (loss) income	$	(109)	$	(2)	$	1,216	$	2,615
Net (loss) income	$	(109)	$	(2)	$	476	$	2,615
2019
Current assets	$	454	$	—	$	3,016	$	138,170
Non-current assets	$	742	$	671	$	1,497	$	—
Current liabilities	$	—	$	—	$	2,803	$	51,216
Non-current liabilities	$	—	$	—	$	161	$	—
Revenues	$	2,290	$	15	$	8,898	$	37,788
Operating income (loss)	$	1,299	$	(5)	$	403	$	10,001
Net income (loss)	$	1,299	$	(5)	$	288	$	10,001
2018
Revenues	$	2,893	$	21	$	13,630	$	40
Operating income (loss)	$	1,755	$	(4)	$	1,745	$	(154)
Net income (loss)	$	1,755	$	(4)	$	1,243	$	(154)

8. Equity in Investments (continued)

The Company’s investment and equity in earnings (losses) of the equity method investees are as follows (in thousands):


	Del Mar		Romney		Rosales		LLCB		Total
Investment balance October 31, 2017	$	1,968	$	515	$	1,944	$	9,634	$	14,061
Equity earnings (losses)	493		(3)		247		(154)		583
Cash distributions	(526)		—		—		—		(526)
Investment contributions	—		—		—		3,500		3,500
Loan guarantee	—		—		—		1,080		1,080
Investment balance October 31, 2018	1,935		512		2,191		14,060		18,698
Equity earnings (losses)	366		—		(163)		2,870		3,073
Cash distributions	(351)		—		(283)		—		(634)
Investment contributions	—		—		—		4,000		4,000
Capitalized interest adjustment	—		—		—		(267)		(267)
Reclassification of sale and leaseback deferral	—		—		—		33,353		33,353
Investment balance October 31, 2019	1,950		512		1,745		54,016		58,223
Equity earnings (losses)	(30)		(1)		44		326		339

Investment contributions	—		—		—		2,800		2,800

Foreign currency adjustments	—		—		(148)		—		(148)
Investment balance October 31, 2020	$	1,920	$	511	$	1,641	$	57,142	$	61,214

Goodwill and Intangible Assets

12 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

A summary of the change in the carrying amount of goodwill is as follows (in thousands):


	Goodwill Net Carrying Amount
October 31, 2018	$	1,431
Acquisition of Trapani Fresh	420
Foreign currency translation adjustment	(12)
October 31, 2019	1,839
Trapani Fresh purchase price adjustment	(297)
Foreign currency translation adjustment	(7)
October 31, 2020	$	1,535

See Note 3 - Acquisitions - of the notes to consolidated financial statements included in this Annual Report for additional information regarding the acquisition of Trapani Fresh.

Goodwill is tested for impairment on an annual basis or when an event or changes in circumstances indicate that its carrying value may not be recoverable. The Company concluded that no potential impairment indicators existed during any interim period and performed its annual assessment of goodwill impairment as of July 31, 2020 with no impairment noted. The Company did not incur any goodwill impairment losses in fiscal years 2020, 2019 or 2018, as the estimated fair values of its reporting units were in excess of their carrying values.

As of October 31, 2020, the Company has allocated goodwill to its reportable segments as follows: Fresh Lemons $965,000 and Lemon Packing $570,000.

9. Goodwill and Intangible Assets (continued)

Intangible assets consisted of the following as of October 31, 2020 and 2019 (in thousands):


	October 31, 2020							October 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years
Intangible assets:
Trade names and trademarks	$	3,771	$	(947)	$	2,824	10	$	3,786	$	(542)	$	3,244	10
Customer relationships	5,010		(989)		4,021		9	5,010		(500)		4,510		9
Non-competition agreement	1,040		(147)		893		10	1,040		(42)		998		10
Acquired water and mineral rights	3,571		—		3,571		Indefinite	$	3,655	$	—	$	3,655	Indefinite
Intangible assets	$	13,392	$	(2,083)	$	11,309		$	13,491	$	(1,084)	$	12,407

Amortization expense totaled $999,000, $689,000, and $84,000 for the years ended October 31, 2020, 2019 and 2018, respectively.

Estimated future amortization expense of intangible assets for each of the next five fiscal years and thereafter are as follows (in thousands):


2021	$	1,040
2022	989
2023	989
2024	981
2025	976
Thereafter	2,763
	$	7,738

Other Assets	12 Months Ended
Other Assets	Oct. 31, 2020
Other Assets [Abstract]
Other Assets	Other AssetsInvestments in Mutual Water CompaniesThe Company’s investments in various not-for-profit mutual water companies provide the Company with the right to receive a proportionate share of water from each of the not-for-profit mutual water companies that have been invested in and do not constitute voting shares and/or rights. Amounts included in other assets in the consolidated balance sheets as of October 31, 2020 and 2019 were $5,563,000 and $5,499,000, respectively.

Accrued Liabilities

12 Months Ended

Oct. 31, 2020

Accounts Payable and Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following at October 31 (in thousands):


	2020		2019
Compensation	$	2,275	$	1,973
Property taxes	683		652
Lemon and orange supplier payables	1,346		899
Operating expenses	938		3,191
Leases	959		129
Other	1,746		1,417
	$	7,947	$	8,261

Long-Term Debt

12 Months Ended

Oct. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt is comprised of the following at October 31 (in thousands):


	2020		2019
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 0.15% at October 31, 2020, plus 1.60%. The interest rate for the $40.0 million 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.	$	102,251	$	82,843

Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 2.48%. The loan is payable in quarterly installments through November 2022.	1,438		2,035

Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 3.24%. The loan is payable in monthly installments through October 2035.	1,029		1,078

Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 3.24%. The loan is payable in monthly installments through March 2036.	8,433		8,823

Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 2.77% until July 1, 2025, becoming variable for the remainder of the loan. The loan is payable in monthly installments though March 2036.	6,220		6,522

Wells Fargo term loan: The interest rate is fixed at 3.58%. The loan is payable in monthly installments through January 2023.	3,491		4,955

Banco de Chile term loan: The interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	1,205		1,386

Note Payable: The interest rate ranges from 5.00% to 7.00% and was 6.00% at October 31, 2020. The loan includes interest-only monthly payments and principal is due in February 2023.	1,435		1,435

Banco de Chile COVID-19 loans: The interest rates are fixed at 3.48%. The loans are payable in monthly installments beginning February 2021 through September 2024.	522		—
Subtotal	126,024		109,077
Less deferred financing costs, net of accumulated amortization	176		162
Total long-term debt, net	125,848		108,915
Less current portion	3,277		3,023
Long-term debt, less current portion	$	122,571	$	105,892

The Company and Farm Credit West, FLCA (“Farm Credit West”) are parties to that certain Master Loan Agreement (the “Loan Agreement”), dated June 20, 2017, which includes a Revolving Credit Supplement and a Non-Revolving Credit Supplement (together, the “Supplements”).

On June 30, 2020, the Company and Farm Credit West entered into a Conversion Agreement to convert the term loans noted above to fixed interest rate loans effective July 1, 2020. No changes were made to the outstanding principal balances on the term loans and the Company made no cash repayments of principal. The rates are subject to a prepayment restriction period for a portion of the fixed rate term that will expire on January 1, 2021, after which the Company may prepay any amounts without penalty.

12. Long-Term Debt (continued)

In March 2020, the Company entered into a revolving equity line of credit promissory note and loan agreement with Farm Credit West for a $15,000,000 Revolving Equity Line of Credit (the "RELOC") secured by a first lien on the Windfall Investors, LLC property. The RELOC matures in 2043 and features a 3-year draw period followed by 20 years of fully amortized loan payments. The interest rate is variable with monthly interest-only payments during the 3-year draw period and monthly principal and interest payments thereafter.

The Supplements and RELOC provide aggregate borrowing capacity of $130,000,000 comprised of $75,000,000 under the Revolving Credit Supplement, $40,000,000 under the Non-Revolving Credit Supplement and $15,000,000 under the RELOC. The borrowing capacity based on collateral value was $130,000,000 at October 31, 2020, of which $27,749,000 was available to borrow.

All indebtedness under the Loan Agreement and RELOC with Farm Credit West, including any indebtedness under the Supplements, is secured by a first lien on certain of its agricultural properties in Tulare, Ventura and San Luis Obispo 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.

In December 2019, Farm Credit West declared an annual cash patronage dividend of 1.00% of average eligible loan balances. The Company received $966,000 in February 2020. In July 2020, Farm Credit West declared an additional cash patronage dividend of $600,000, which the Company received in August 2020. In February 2019, the Company received an annual cash patronage dividend of $853,000.

The Loan Agreement subjects the Company to affirmative and restrictive covenants including, among other customary covenants, financial reporting requirements, requirements to maintain and repair any collateral, restrictions on the sale of assets, restrictions on the use of proceeds, prohibitions on the incurrence of additional debt and restrictions on the purchase or sale of major assets of the Company's business. The Company is also subject to a covenant that it will maintain a debt service coverage ratio greater than 1.25:1.0 measured annually at October 31. In August 2020, Farm Credit West modified the covenant to defer measurement at October 31, 2020 and revert to a debt service coverage ratio of 1.25:1.0 measured as of October 31, 2021. The Company was not in compliance with the Wells Fargo covenant at October 31, 2020 and the non-compliance was waived. This loan is secured by certain lemon packing equipment.

In July and September 2020, PDA and San Pablo entered into term loan agreements for an aggregate amount of approximately $522,000. These small business loans are guaranteed by the Chilean government in response to economic instability caused by the COVID-19 pandemic. The unsecured loans mature in July and September 2024, bear interest at fixed rates of 3.48% and 2.90% and are payable in monthly installments beginning February and April 2021, respectively.

Interest is capitalized on non-bearing orchards, real estate development projects and significant construction in progress. The Company capitalized interest of $921,000 and $1,369,000 during the fiscal years ended 2020 and 2019, respectively. Capitalized interest is included in property, plant and equipment and real estate development assets in the Company’s consolidated balance sheets.

The Company incurs certain loan fees and costs associated with its new or amended credit arrangements. Such costs are capitalized as deferred financing costs and amortized as interest expense using the straight-line method over the terms of the credit agreements. The balance of deferred financing costs was $176,000 and $162,000, net of amortization at October 31, 2020 and 2019, respectively and was included in long-term debt on the Company’s consolidated balance sheet.

Principal payments on the Company’s long-term debt are due as follows (in thousands):


2021	$	3,277
2022	105,606
2023	3,157
2024	1,162
2025	1,450
Thereafter	11,372
	$	126,024

Leases

12 Months Ended

Oct. 31, 2020

Leases [Abstract]

Leases

Lessor Arrangements

The Company enters into leasing transactions in which it rents certain of its assets and the Company is the lessor. These lease contracts are typically classified as operating leases with remaining terms ranging from one month to 22 years, with various renewal terms available. All of the residential rentals have month-to-month lease terms.

The following table presents the components of the Company’s operating lease portfolio included in property, plant and equipment, net as of the dates indicated (in thousands):


	October 31, 2020		October 31, 2019
Land	$	3,522	$	1,279
Buildings, equipment and building improvements	18,516		22,841
Less: accumulated depreciation	(5,691)		(7,551)
Property, plant and equipment, net under operating leases	$	16,347	$	16,569

Depreciation expense for assets under operating leases was approximately $664,000 for fiscal year 2020.

The Company’s rental operations revenue consists of the following (in thousands):


	October 31, 2020
Operating lease payments	$	4,287
Variable lease payments	335
Total lease payments	$	4,622

The future minimum lease payments to be received by the Company related to these operating lease agreements as of October 31, 2020 are as follows (in thousands):


2021	$	713
2022	517
2023	344
2024	70
2025	70
Thereafter	925
Total	$	2,639

The Company’s rental operations revenue included contingent rental revenue of $355,000 and $324,000 for fiscal years 2019 and 2018, respectively.

Lessee Arrangements

The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are typically classified as operating leases. The Company’s lease contracts are generally for agricultural land and packinghouse equipment with remaining lease terms ranging from one to 17 years, with various term extensions available. The Company’s lease agreements do not contain any residual value guarantees or material restrictive covenants. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the Company recognizes lease expense for these leases on a straight-line basis over the lease term. As of October 31, 2020, there were no material finance leases for which the Company was a lessee.

13. Leases (continued)

Operating lease costs were $559,000 for fiscal year 2020, which are primarily included in agribusiness costs and expenses in the Company’s consolidated statements of operations. Variable and short term lease costs were immaterial.

Supplemental balance sheet information related to leases consists of the following (in thousands):


	Classification	October 31, 2020
Assets
Operating lease ROU assets	Other assets	$	2,053

Liabilities and Stockholders' Equity
Current operating lease liabilities	Accrued liabilities	521
Non-current operating lease liabilities	Other long-term liabilities	1,610
Total operating lease liabilities		$	2,131

Weighted-average remaining lease term (in years)		11.0
Weighted-average discount rate		3.8		%

Supplemental cash flow information related to leases consists of the following (in thousands):


	October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	559

ROU assets obtained in exchange for new operating lease liabilities	$	108

Future minimum lease payments under non-cancellable leases for each of the subsequent five fiscal years and thereafter are as follows (in thousands):


2021	$	509
2022	358
2023	182
2024	151
2025	134
Thereafter	1,315
Total lease payments	2,649
Less: Imputed interest	(518)
Total	$	2,131

In addition to operating lease commitments, the Company also has a contract for pollination services which does not meet the definition of a lease, with minimum future payments of $307,000 for each of the fiscal years 2021 and 2022 and $51,000 in fiscal year 2023.

13. Leases (continued)

A summary of the Company’s future minimum payments for obligations under non-cancellable operating leases as of October 31, 2019 was as follows (in thousands):


2020	$	688
2021	492
2022	291
2023	154
2024	134
Thereafter	1,382
Total	$	3,141

Total lease expense for fiscal years 2019 and 2018 was $733,000 and $2,028,000, respectively, which was included in agribusiness costs and expenses in the Company’s consolidated statements of operations.

In October 2018, the Company purchased a 1,000 KW photovoltaic generator for $1,125,000 that was previously under a 10-year operating lease agreement with Farm Credit West. In December 2018, the Company purchased another 1,000 KW photovoltaic generator for $1,275,000 that was previously under a 10-year operating lease agreement with Farm Credit West.

Leases

Lessor Arrangements

The following table presents the components of the Company’s operating lease portfolio included in property, plant and equipment, net as of the dates indicated (in thousands):


	October 31, 2020		October 31, 2019
Land	$	3,522	$	1,279
Buildings, equipment and building improvements	18,516		22,841
Less: accumulated depreciation	(5,691)		(7,551)
Property, plant and equipment, net under operating leases	$	16,347	$	16,569

Depreciation expense for assets under operating leases was approximately $664,000 for fiscal year 2020.

The Company’s rental operations revenue consists of the following (in thousands):


	October 31, 2020
Operating lease payments	$	4,287
Variable lease payments	335
Total lease payments	$	4,622

The future minimum lease payments to be received by the Company related to these operating lease agreements as of October 31, 2020 are as follows (in thousands):


2021	$	713
2022	517
2023	344
2024	70
2025	70
Thereafter	925
Total	$	2,639

The Company’s rental operations revenue included contingent rental revenue of $355,000 and $324,000 for fiscal years 2019 and 2018, respectively.

Lessee Arrangements

13. Leases (continued)

Supplemental balance sheet information related to leases consists of the following (in thousands):


	Classification	October 31, 2020
Assets
Operating lease ROU assets	Other assets	$	2,053

Liabilities and Stockholders' Equity
Current operating lease liabilities	Accrued liabilities	521
Non-current operating lease liabilities	Other long-term liabilities	1,610
Total operating lease liabilities		$	2,131

Weighted-average remaining lease term (in years)		11.0
Weighted-average discount rate		3.8		%

Supplemental cash flow information related to leases consists of the following (in thousands):


	October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	559

ROU assets obtained in exchange for new operating lease liabilities	$	108

Future minimum lease payments under non-cancellable leases for each of the subsequent five fiscal years and thereafter are as follows (in thousands):


2021	$	509
2022	358
2023	182
2024	151
2025	134
Thereafter	1,315
Total lease payments	2,649
Less: Imputed interest	(518)
Total	$	2,131

13. Leases (continued)

A summary of the Company’s future minimum payments for obligations under non-cancellable operating leases as of October 31, 2019 was as follows (in thousands):


2020	$	688
2021	492
2022	291
2023	154
2024	134
Thereafter	1,382
Total	$	3,141

Earnings Per Share

12 Months Ended

Oct. 31, 2020

Earnings Per Share [Abstract]

Earnings 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 Series B and Series B-2 convertible preferred shares were anti-dilutive for fiscal years ended October 31, 2020 and 2019 and dilutive for fiscal years ended October 31, 2018. The computations for basic and diluted net (loss) income per common share are as follows (in thousands, except per share amounts):


	Year ended October 31,
	2020		2019		2018
Basic net (loss) income per common share:
Net (loss) income applicable to common stock	$	(16,936)	$	(6,444)	$	19,687
Effect of unvested, restricted stock	(44)		(51)		(34)
Numerator: Net (loss) income for basic EPS	(16,980)		(6,495)		19,653
Denominator: Weighted average common shares-basic	17,666		17,580		15,581
Basic net (loss) income per common share	$	(0.96)	$	(0.37)	$	1.26

Diluted net (loss) income per common share:
Numerator: Net (loss) income for diluted EPS	$	(16,980)	$	(6,495)	$	20,188
Weighted average common shares-basic	17,666		17,580		15,581
Effect of dilutive unvested, restricted stock and preferred stock	—		—		628
Denominator: Weighted average common shares-diluted	17,666		17,580		16,209
Diluted net (loss) income per common share	$	(0.96)	$	(0.37)	$	1.25

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 164,000, 119,000 and 70,000, unvested, restricted shares, as calculated under the treasury stock method, from its computation of diluted (losses) earnings per share for the fiscal years ended October 31, 2020, 2019 and 2018, respectively.

Related-Party Transactions

12 Months Ended

Oct. 31, 2020

Related-Party Transactions

The Company has transactions with various related-parties as summarized in the tables below (in thousands):


		October 31, 2020								October 31, 2019
		Balance Sheet								Balance Sheet
Ref	Related-Party	Receivables/Other from Related-Parties		Other Assets		Payables to Related-Parties		Other Long-Term Liabilities		Receivables/Other from Related-Parties		Other Assets		Accounts Payable		Payables to Related-Parties		Other Long-Term Liabilities

(2)	Mutual water companies	$	—	$	64	$	64	$	—	$	—	$	473	$	11	$	—	$	—
(3)	Cooperative association	$	—	$	—	$	123	$	—	$	—	$	—	$	35	$	—	$	—


(6)	Cadiz / Fenner / WAM	$	—	$	1,443	$	182	$	1,353	$	—	$	—	$	—	$	—	$	—
(7)	Colorado River Growers	$	81	$	—	$	—	$	—	$	376	$	—	$	—	$	—	$	—

(9)	FGF	$	2,213	$	—	$	604	$	—	$	2,609	$	—	$	—	$	906	$	—
(10)	LLCB	$	—	$	—	$	5,300	$	—	$	—	$	—	$	—	$	—	$	1,200


		Year Ended October 31, 2020										Year Ended October 31, 2019
		Consolidated Statement of Operations										Consolidated Statement of Operations
Ref	Related-Party	Net Revenue - Agribusiness		Net Revenue - Other Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid		Net Revenue - Agribusiness		Net Revenue - Other Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
(1)	Employees	$	—	$	785	$	—	$	—	$	—	$	—	$	744	$	—	$	—	$	—
(2)	Mutual water companies	$	—	$	—	$	894	$	—	$	—	$	—	$	—	$	838	$	—	$	—
(3)	Cooperative association	$	—	$	—	$	1,849	$	—	$	—	$	—	$	—	$	1,687	$	—	$	—
(4)	Calavo	$	8,806	$	330	$	1,223	$	220	$	503	$	3,080	$	400	$	1,096	$	250	$	506
(5)	Third party growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	10	$	—	$	—
(6)	Cadiz / Fenner / WAM	$	—	$	—	$	240	$	—	$	—	$	—	$	—	$	186	$	—	$	—
(7)	Colorado River Growers	$	603	$	—	$	6,613	$	—	$	—	$	306	$	—	$	5,476	$	—	$	—
(8)	YMIDD	$	—	$	—	$	139	$	—	$	—	$	—	$	—	$	150	$	—	$	—
(9)	FGF	$	10,338	$	—	$	13,478	$	—	$	—	$	14,471	$	—	$	10,300	$	—	$	—


		Year Ended October 31, 2018
		Consolidated Statement of Operations
Ref	Related-Party	Net Revenue - Agribusiness		Net Revenue - Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
(1)	Employees	$	—	$	706	$	—	$	—	$	—
(2)	Mutual water companies	$	—	$	—	$	1,102	$	—	$	—
(3)	Cooperative association	$	—	$	—	$	1,869	$	—	$	—
(4)	Calavo	$	6,576	$	293	$	367	$	285	$	432
(5)	Third party growers	$	—	$	—	$	2,279	$	—	$	—
(6)	Cadiz / Fenner / WAM	$	—	$	—	$	178	$	—	$	—
(7)	Colorado River Growers	$	374	$	—	$	3,707	$	—	$	—
(8)	YMIDD	$	—	$	—	$	213	$	—	$	—

15. Related-Party Transactions (continued)

(1) Employees - The Company rents certain of its residential housing assets to employees on a month-to-month basis and recorded rental income from employees. There were no rental payments due from employees at October 31, 2020 and 2019.

(2) Mutual water companies - 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, purchased water and water delivery services and had water payments due to the mutual water companies. Refer to Note 10 - Other Assets.

(3) Cooperative association - 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 from and had payments due to the cooperative association.

(4) Calavo - The Company had an investment in Calavo through March 2020 and has representation on the board of directors 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 on its investment in Calavo, paid dividends to Calavo and had avocado sales to Calavo. Additionally, the Company leases office space to Calavo, purchases storage services from Calavo and had amounts due to Calavo for those services.

(5) Third party growers - A member of the Company’s board of directors markets lemon through the Company.

(6) Cadiz / Fenner / WAM - 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. In 2013, the Company entered a long-term lease agreement (the “Lease”) with Cadiz Real Estate, LLC (“Cadiz”), a wholly owned subsidiary of Cadiz, Inc., and currently leases 670 acres located in eastern San Bernardino County, California. The annual base rental 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. In 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. Upon the adoption of ASC 842, the Company recorded a ROU asset and corresponding lease liability.

(7) Colorado River Growers, Inc. (“CRG”) - The Company has representation on the board of directors of CRG, a non-profit cooperative association of fruit growers engaged in the agricultural harvesting business in Yuma County, Arizona. The Company paid harvest expense to CRG, provided harvest management and administrative services to CRG and had a receivable due from CRG for such services.

(8) Yuma Mesa Irrigation and Drainage District (“YMIDD”) - The Company has representation on the board of directors of YMIDD. The Company purchased water from YMIDD and had amounts payable to them for such purchases.

(9) FGF - The Company advances funds to FGF for fruit purchases that are recorded as an asset until the sales occur and the remaining proceeds become due to FGF. Additionally, FGF provided farming, by-product processing and administrative services to Trapani Fresh. The Company had a payable due to FGF for such fruit purchases and services.

(10) LLCB - Refer to Note 7 - Real Estate Development.

Income Taxes

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

A reconciliation of income before income taxes for domestic and foreign locations for the years ended October 31, 2020, 2019 and 2018 are as follows (in thousands):


	2020		2019		2018
United States	$	(23,195)	$	(6,285)	$	13,099
Foreign	(3,240)		(278)		384
Income before income taxes	$	(26,435)	$	(6,563)	$	13,483

16. Income Taxes (continued)

The components of the provisions for income taxes for fiscal years 2020, 2019 and 2018 are as follows (in thousands):


	2020		2019		2018
Current:
Federal	$	5,835	$	(7)	$	35
State	332		563		(444)
Foreign	194		(232)		(169)
Total current benefit (provision)	6,361		324		(578)

Deferred:
Federal	640		998		7,393
State	1,177		(302)		(212)
Foreign	316		77		126
Total deferred benefit	2,133		773		7,307
Total income tax benefit	$	8,494	$	1,097	$	6,729

Deferred income taxes reflect the net of temporary differences between the carrying amount of the assets and liabilities for financial reporting and income tax purposes. The components of deferred income tax assets at October 31, 2020 and 2019 are as follows (in thousands):


	2020		2019
Deferred income tax assets:
Reserve and other accruals	$	643	$	823

Net operating losses	4,983		1,112


Right-of-use asset	578		—
Minimum pension liability adjustment	962		820
Amortization	325		295
Interest expense limitation	306		—
Stock based compensation	549		554
Total deferred income tax assets	8,346		3,604
Valuation allowance	(540)		(362)
Total net deferred income tax assets	7,806		3,242

Deferred income tax liabilities:
Property taxes	(173)		(150)
Depreciation	(16,930)		(13,630)
Land and other indefinite life assets	(6,905)		(6,887)
Investment in joint ventures and other basis adjustments	(4,097)		(2,105)

Right-of-use asset	(557)		—
Unrealized net gain on Calavo investment	—		(4,142)
Other	(1,241)		(674)
Total deferred income tax liabilities	(29,903)		(27,588)
Net deferred income tax liabilities	$	(22,097)	$	(24,346)

Deferred income taxes — noncurrent assets	$	333	$	—
Deferred income taxes — noncurrent liabilities	$	(22,430)	$	(24,346)

16. Income Taxes (continued)

The Company periodically evaluates the recoverability of the deferred tax assets. The Company recognized deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. The Company has recorded a valuation allowance of $540,000 on two Chilean subsidiaries deferred tax assets as of October 31, 2020 as the Company does not believe it is more likely than not that these deferred tax assets will be realized due to the recent history of cumulative pre-tax book losses and lack of objectively verifiable future source of taxable income.

At October 31, 2020, the Company recorded a deferred tax asset of $4,983,000 related to its federal, state, and foreign net operating carryforwards. The entire federal net operating loss is subject to the 80% taxable income limitation. The net operating losses begin to expire as follows (in thousands):

Jurisdiction

Gross Amount

Begin to Expire

Federal

12,161

Indefinite

State

15,190

10/31/2039

Chile

3,662

Indefinite

Argentina

1,684

10/31/2025

At October 31, 2020, the Company had disallowed federal and state interest expense carryforwards of approximately $1,442,000 and $2,454,000, respectively, that do not expire. Because of the change of ownership provisions of the Tax Reform Act of 1986, use of a portion of the domestic net operating loss and disallowed interest expense carryforwards may be limited in future periods. Further, a portion of the carryforwards may expire before being applied to reduce future income tax liabilities.


	2020				2019				2018
	Amount		%		Amount		%		Amount		%
Provision at statutory rates	$	5,551	(21.0)	%	$	1,351	(21.0)	%	$	(3,125)	(23.3)	%
State income tax, net of federal benefit	1,431		(5.4)	%	316		(4.9)	%	(768)		(5.7)	%
Dividend exclusion	27		(0.1)	%	28		(0.4)	%	49		0.4	%
Meals and entertainment	(18)		0.1	%	(90)		1.4	%	—		—
Transaction costs	—		—		(137)		2.1	%	—		—

Tax law change	1,948		(7.4)	%	—		—		10,295		76.4	%
State rate adjustment	(82)		0.3	%	(109)		1.7	%	—		—
Valuation allowance	(168)		0.6	%	(393)		6.1	%	—		—

Noncontrolling interest	(305)		1.1	%	116		(1.8)	%	—		—
Other permanent items	110		(0.4)	%	15		(0.3)	%	278		2.1	%
Total income tax benefit	$	8,494	(32.2)	%	$	1,097	(17.1)	%	$	6,729	49.9	%

At October 31, 2020 and 2019, the Company had no unrecognized tax benefits. The Company files income tax returns in the U.S., California, Arizona, Chile, Argentina and Holland. The Company is no longer subject to significant U.S., state and Chilean income tax examinations for years prior to the statutory periods of three years for federal, four years for state and three years for Chilean tax jurisdictions. The Company recognizes interest expense and penalties related to income tax matters as a component of income tax expense. There was no accrued interest or penalties associated with uncertain tax positions as of October 31, 2020.

16. Income Taxes (continued)

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law. The CARES Act includes numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, the creation of certain refundable employee retention credits, and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company evaluated the impact of the CARES Act and has recorded a tax benefit of $1,948,000 and an income tax refund of $5,801,000 due to our ability to carryback and obtain federal tax refund by utilizing net operating losses under the provisions of the CARES Act, of which $841,000 and $4,960,000 were received in October 2020 and December 2020, respectively.

On December 22, 2017, the Tax Cuts and Jobs Act (the "TCJA") was enacted into law. The TCJA made significant changes to U.S. tax laws, including, but not limited to, the following: (a) reducing the federal corporate income tax rate from 35% to a flat 21%, effective January 1, 2018, (b) including two new U.S. tax base erosion provisions and the global intangible low-taxed income ("GILTI") provisions and (c) expanding the number of individuals whose compensation is subject to a $1,000,000 cap on deductibility under Section 162(m) and includes performance-based compensation such as stock options and stock appreciation rights in the calculation. As a result of the rate reduction, the Company recorded an income tax benefit of $10,295,000 related to the remeasurement of the Company's deferred tax balance as of October 31, 2018.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Retirement Plans

12 Months Ended

Oct. 31, 2020

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. The Plan is administered by Wells Fargo Bank and Mercer Human Resource Consulting.

The Plan is funded consistent with the funding requirements of federal law and regulations. There were funding contributions of zero and $600,000 for fiscal years 2020 and 2019, respectively. Plan assets are invested in a group trust consisting primarily of pooled funds, mutual funds, short-term investment funds and cash.

The investment policy and strategy has been established to provide a total investment return that will, over time, maintain purchasing power parity for the Plan’s variable benefits and keep the Plan funding at a reasonable level. The long-term target asset allocations are Domestic Equity 30%, International Equity 10% and Fixed Income 60%.

The following tables set forth the Plan’s net periodic cost, changes in benefit obligation and Plan assets, funded status, amounts recognized in the Company’s consolidated balance sheets, additional year-end information and assumptions used in determining the benefit obligations and net periodic benefit cost.

The components of net periodic benefit cost for the Plan for fiscal years 2020 and 2019 were as follows (in thousands):


	2020		2019
Administrative expenses	$	278	$	188
Interest cost	641		828
Expected return on plan assets	(990)		(1,088)
Prior service cost	45		45
Amortization of net loss	739		402
Net periodic benefit cost	$	713	$	375

17. Retirement Plans (continued)

Following is a summary of the Plan’s funded status as of October 31 (in thousands):


	2020		2019
Change in benefit obligation:
Benefit obligation at beginning of year	$	22,267	$	19,641
Administrative expenses	278		188
Interest cost	641		828
Benefits paid	(1,524)		(1,453)
Actuarial loss	1,236		3,063
Benefit obligation at end of year	$	22,898	$	22,267

Change in plan assets:
Fair value of plan assets at beginning of year	$	19,229	$	17,237
Actual return on plan assets	1,647		2,845
Employer contributions	—		600
Benefits paid	(1,524)		(1,453)
Fair value of plan assets at end of year	$	19,352	$	19,229

Reconciliation of funded status:
Fair value of plan assets	$	19,352	$	19,229
Benefit obligations	22,898		22,267
Net plan obligations	$	(3,546)	$	(3,038)

Amounts recognized in statements of financial position:
Noncurrent assets	$	—	$	—
Current liabilities	—		—
Noncurrent liabilities	(3,546)		(3,038)
Net obligation recognized in statements of financial position	$	(3,546)	$	(3,038)

Reconciliation of amounts recognized in statements of financial position:
Prior service cost	$	(144)	$	(189)
Net loss	(6,162)		(6,322)
Accumulated other comprehensive loss	(6,306)		(6,511)
Accumulated contributions in excess of net periodic benefit cost	2,760		3,473
Net deficit recognized in statements of financial position	$	(3,546)	$	(3,038)

Presented below are changes in accumulated other comprehensive income, before tax, in the Plan as of October 31, (in thousands):


	2020		2019
Changes recognized in other comprehensive income:
Net loss arising during the year	$	579	$	1,306
Amortization of prior service cost	(45)		(45)
Amortization of net loss	(739)		(402)
Total recognized in other comprehensive income	$	(205)	$	859

Total recognized in net periodic benefit and other comprehensive income	$	508	$	1,234

17. Retirement Plans (continued)

The following assumptions, as of October 31, were used in determining benefit obligations and net periodic benefit cost ($ in thousands):


	2020			2019
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.50		%	3.00		%

Assumptions used to determine net periodic benefit cost:
Discount rate	3.00		%	4.40		%
Expected return on plan assets	5.66		%	6.31		%

Additional year-end information:
Projected benefit obligation	$	22,898		$	22,267
Accumulated benefit obligation	$	22,898		$	22,267
Fair value of plan assets	$	19,352		$	19,229

Benefit payments are expected to be paid over the next 10 fiscal years as follows (in thousands):


2021	$	1,295
2022	1,317
2023	1,362
2024	1,374
2025	1,368
Next five years	6,569
	$	13,285

The following table sets forth the Plan’s assets as of October 31, 2020, segregated by level using the hierarchy established by FASB ASC 820, Fair Value Measurements and Disclosures (in thousands):


	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	157	$	—	$	—	$	157
Mutual funds	1,152		—		—		1,152
Pooled funds	—		18,043		—		18,043
	$	1,309	$	18,043	$	—	$	19,352

The Company has a 401(k) plan in which it contributes an amount equal to 4% of an eligible employee’s annual earnings beginning after one year of employment. Employees may elect to defer up to 100% of their annual earnings subject to Internal Revenue Code limits. The Company makes an additional matching contribution on these deferrals up to 4% of the employee’s annual earnings. Employees are 100% vested in the Company’s contribution after six years of employment. Participants vest in any matching contribution at a rate of 20% per year beginning after one year of employment. During fiscal years 2020, 2019 and 2018, the Company contributed to the plan and recognized expenses of $1,107,000, $927,000 and $823,000, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Oct. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Legal Proceedings 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.

Series B and Series B-2 Preferred Stock	12 Months Ended
Series B and Series B-2 Preferred Stock	Oct. 31, 2020
Temporary Equity Disclosure [Abstract]
Series B and Series B-2 Preferred Stock	Series B and Series B-2 Preferred Stock Series B Convertible Preferred Stock In 1997, in connection with the acquisition of Ronald Michaelis Ranches, Inc., the Company issued 30,000 shares of Series B Convertible Preferred Stock at $100.00 par value (the “Series B Stock”). Dividends: The holders of shares of Series B Stock are entitled to receive cumulative cash dividends at an annual rate of 8.75% of par value. Such dividends are payable quarterly on the first day of January, April, July and October in each year. Voting Rights: Each holder of Series B Stock is entitled to ten votes on all matters submitted to a vote of the stockholders of the Company. Redemption: The Company, at the option of the Board of Directors, may redeem the Series B Stock, as a whole or in part, at any time or from time to time on or after August 1, 2017 and before July 31, 2027, at a redemption price equal to the par value thereof, plus accrued and unpaid dividends thereon to the date fixed for redemption. Redemption by the Company of a portion of the Series B Stock totaling 14,790 shares is subject to certain conditions agreed upon between the Company and the holders of this portion of the Series B Stock. Conversion: The holders of Series B Stock have the right, at their option, to convert such shares into shares of Common Stock of the Company at any time prior to redemption. The conversion price is $8.00 per share of Common Stock. Pursuant to the terms of the Certificate of Designation, Preferences and Rights of the Series B Stock, the conversion price shall be adjusted to reflect any dividends paid in Common Stock of the Company, the subdivision of the Common Stock of the Company into a greater number of shares of Common Stock of the Company or upon the advice of legal counsel. Put: The holders of Series B Stock may at any time after July 1, 2017 and before June 31, 2027 cause the Company to repurchase such shares at a repurchase price equal to the par value thereof, plus accrued and unpaid dividends thereon to the date fixed for repurchase. The put features of a portion of the Series B Stock totaling 14,790 shares are subject to certain conditions agreed upon between the Company and the holders of this portion of the Series B Stock. Because the Series B Stock may be redeemed by holders of the shares at their discretion beginning July 1, 2017, the redemption is outside the control of the Company and accordingly, the Series B Stock has been classified as temporary equity. In fiscal year 2017, a total of 14,210 shares of Series B preferred stock were converted into 177,624 shares of common stock. In fiscal year 2016, 500 shares of Series B preferred stock were converted into 6,250 shares of common stock. In fiscal year 2015, 500 shares of Series B preferred stock were converted into 6,250 shares of common stock. Series B-2 Convertible Preferred Stock During March and April of 2014, pursuant to a Series B-2 Stock Purchase Agreement dated March 21, 2014, the Company issued an aggregate of 9,300 shares of Series B-2, 4% voting preferred stock with a par value of $100.00 per share (“Series B-2 Preferred Stock”) to WPI-ACP Holdings, LLC (“WPI”), an entity affiliated with WAM for total proceeds of $9,300,000. The transactions were exempt from the registration requirements of the Securities Act of 1933, as amended. The Series B-2 Preferred Stock has the following rights, preferences, privileges, and restrictions: Conversion: Each share of the Series B-2 Preferred Stock is convertible into common stock at a conversion price equal to the greater of (a) the then-market price of the Company’s common stock based upon the closing price of the Company’s common stock on The NASDAQ Stock Market, LLC or on such other principal market on which the Company’s common stock may then be trading and (b) $15.00 per share of common stock. Shares of the Series B-2 Preferred Stock may be converted into common stock (i) at any time prior to the redemption thereof, or (ii) in the event the Option Agreement (as defined below) is terminated without all of the shares of Series B-2 Preferred Stock having been redeemed, within 30 calendar days following such termination. Dividends: The holder of shares of the Series B-2 Preferred Stock is entitled to receive cumulative cash dividends at an annual rate of 4% of the liquidation value of $1,000 per share. Such dividends are payable quarterly on the first day of January, April, July and October in each year. Liquidation Rights: In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holder of shares of the Series B-2 Preferred Stock is entitled to be paid out of the assets available for distribution, before any payment is made to the holders of the Company’s common stock or any other series or class of the Company’s shares ranking junior to the Series B-2 Preferred Stock, an amount equal to the liquidation value of $1,000 per share, plus an amount equal to all accrued and unpaid dividends. 19. Series B and Series B-2 Preferred Stock (continued) Series B-2 Convertible Preferred Stock (continued) Voting Rights: Each share of Series B-2 Preferred Stock is entitled to one vote on all matters submitted to a vote of the Company’s stockholders. Redemption: The Company may redeem shares of Series B-2 Preferred Stock only (i) from WPI or its designee and (ii) upon, and to the extent of, an election to exercise the option pursuant to the Option Agreement, described below, at a redemption price equal to the liquidation value of $1,000 per share plus accrued and unpaid dividends. Because the Series B-2 Preferred Stock may be redeemed by WPI at its discretion with the exercise of the Option Agreement, the redemption is outside the control of the Company and accordingly, the Series B-2 Preferred Stock has been classified as temporary equity. In connection with the sale of the Series B-2 Preferred Stock, Associated Citrus Packers, Inc. (“Associated”) and another affiliate of WAM (“WPI-ACP”), entered into a series of agreements related to the future ownership and disposition of farmland with associated Colorado River water rights and other real estate that is held by Associated in Yuma, Arizona. The agreements allow the parties to explore strategies that will make the highest and best use of those assets, including but not limited to the sale or lease of assets or the expansion of a fallowing and water savings program in which a portion of Associated’s property is currently enrolled. The net proceeds of any monetization event would be shared equally by the parties. The agreements entered into include a Water Development Agreement and an Option Agreement. Pursuant to the Water Development Agreement, Associated granted WPI-ACP exclusive rights to develop water assets attributable to the real estate owned by Associated for the mutual benefit of Associated and WAM. Pursuant to the Option Agreement, Associated granted WPI-ACP an option to purchase an undivided interest of up to one-half of the real estate owned by Associated in Yuma County, Arizona (the “Property”) and the water rights associated therewith until January 1, 2026. The purchase price for the Property subject to the Option Agreement will be paid via the redemption by the Company of a proportionate percentage of the Series B-2 Preferred Stock. Unless and until a definitive agreement or definitive agreements with respect to Associated’s real estate and water rights is entered into that would cause the cessation of farming operations, Associated expects to continue farming the Property and recognize all results of operations and retain all proceeds from such operations.

Stockholders' Equity

12 Months Ended

Oct. 31, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Series A Junior Participating Preferred Stock

The Company has 20,000 shares of preferred stock authorized as Series A Junior Participating Preferred Stock at $0.01 par value (the “Series A Stock”). No shares are issued or outstanding.

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, key executives and non-employee directors. The fair value of such awards is based on the fair value of the Company's stock on the date of grant and all are classified as equity awards. The Stock Plan has 281,225 remaining shares available to be issued as of October 31, 2020.

Performance Awards

Certain restricted stock grants are made to management each December under the Stock Plan based on the achievement of certain annual financial performance and other criteria achieved during the previous fiscal year (“Performance Awards”). The performance grants are based on a percentage of the employee’s base salary divided by the stock price on the grant date once the performance criteria has been met, and generally vest over a two-year period as service is provided. During December 2020 and 2019, there were no Performance Awards of restricted stock granted for fiscal year 2020 or 2019 performance because the financial performance and other criteria were not met.

20. Stockholders’ Equity (continued)

Stock-based compensation (continued)

Executive Awards

Certain restricted stock grants are made to key executives under the Stock Plan (“Executive Awards”). These grants generally vest over a three to five-year period as service is provided. During December 2020, subsequent to fiscal year 2020, the Company granted 95,000 shares of common stock with a per share price of $15.26 to key executives under the Stock Plan. The related compensation expense of approximately $1,450,000 will be recognized equally over the next three years as the shares vest.

Director Awards

The Company issues shares of common stock to non-employee directors under the Stock Plan on an annual basis that vest upon grant (“Director Awards”).

A summary of the Performance, Executive, and Director awards granted under the Stock Plan during fiscal years 2020, 2019 and 2018, and the weighted average grant price is as follows:


	Year Ended October 31,
	2020			2019			2018
	Number of Shares	Weighted-Average Grant Price		Number of Shares	Weighted-Average Grant Price		Number of Shares	Weighted-Average Grant Price
Performance Awards	—	$	—	40,095	$	18.74	41,291	$	22.86
Executive Awards	95,000	$	18.87	90,000	$	19.84	90,000	$	22.19
Director Awards	17,841	$	20.05	15,642	$	21.65	14,033	$	22.00
Total	112,841	$	19.06	145,737	$	19.73	145,324	$	22.36

The Company recognized $2,044,000, $1,791,000 and $1,368,000 of stock-based compensation in fiscal years 2020, 2019 and 2018, respectively, of which substantially all of the expense has been included in selling, general and administrative expenses for all years presented. Forfeitures are accounted for in the period that the forfeiture occurs. The income tax benefit recognized in the income statement for stock-based compensation arrangements was $400,000, $324,000 and $328,000 for fiscal years 2020, 2019 and 2018, respectively. The total fair value of shares vested during the years ended October 31, 2020, 2019 and 2018 was $2,365,000, $1,788,000 and $1,238,000 respectively. The Company has unrecognized stock-based compensation expense of $2,589,000 as of October 31, 2020, which is expected to be recognized over the next three years as the shares vest. All unvested shares are expected to vest.

During fiscal years 2020, 2019 and 2018, respectively, members of management exchanged 11,314, 36,627 and 24,252 shares of common stock with fair values of $213,000, $606,000 and $570,000, at the dates of the exchanges, for the payment of payroll taxes associated with the vesting of shares under the Company’s stock-based compensation programs. Additionally, in fiscal year 2018, the Company repurchased 15,330 shares from a retired member of management for $86,000 per the terms of a discontinued stock plan.

A summary of the status of the Company’s nonvested shares as of October 31, 2020, and changes during the year ended October 31, 2020, is presented below.


	Number of Shares	Weighted-Average Grant Price
Nonvested at October 31, 2019	171,106	$	20.64
Vested	(117,646)	$	20.20

Granted	95,000	$	18.87
Nonvested at October 31, 2020	148,460	$	19.85

20. Stockholders’ Equity (continued)

Treasury Stock

Share Repurchase Program

On March 12, 2020, the Board of Directors of the Company approved a share repurchase program authorizing the Company to repurchase up to $10,000,000 of its outstanding shares of common stock through March 2021. Under the share repurchase program, purchases of shares of common stock may be made from time to time in the open market or in privately negotiated transactions. The share repurchase program may be modified, suspended or discontinued at any time and does not commit the Company to repurchase shares of its common stock. During fiscal year 2020, the Company repurchased 250,977 shares under the share repurchase program for approximately $3,493,000. As of October 31, 2020, the remaining authorization under this program is approximately $6,507,000.

Dividend

On December 15, 2020, the Company declared a $0.075 per share dividend payable on January 15, 2021, in the aggregate amount of $1,324,000 to common shareholders of record as of December 28, 2020.

Fruit Growers Supply Cooperative	12 Months Ended
Fruit Growers Supply Cooperative	Oct. 31, 2020
Fruit Growers Supply Cooperative [Abstract]
Fruit Growers Supply Cooperative	Fruit Growers Supply Cooperative The Company is a member of Fruit Growers Supply (“FGS”), a cooperative supply corporation. FGS is the manufacturing and supply affiliate of Sunkist. FGS allocates after-tax earnings derived from non-member business to members. The allocations may then be disbursed to members as dividends no less than five years after allocation. The declaration of dividends is subject to approval by the FGS Board of Directors and members may receive amounts less than those originally allocated. The Company records allocations disbursed by FGS as reductions of agribusiness expenses. As of October 31, 2020 and 2019, the Company had been allocated $729,000, of which the Company received dividends of $513,000 in fiscal year 2020, leaving an ending allocation of $216,000 as of October 31, 2020. The Company received no dividends in fiscal years 2019 or 2018. During September 2011, the Company settled a claim with Sunkist in which Sunkist requested a refund of $586,000 of fiscal year 2010 lemon by-products revenue. The Company assigned 50% of future dividends it receives from FGS up to the amount of claim in the unconditional settlement of the claim. The balance of the claim as of October 31, 2019 was $251,000 and the claim was paid in full in fiscal year 2020.

Segment Information

12 Months Ended

Oct. 31, 2020

Segment Reporting [Abstract]

Segment Information

The Company operates in four reportable operating segments: fresh lemons, lemon packing, avocados and other agribusiness. The Company’s operating segments of rental operations and real estate development are no longer disclosed as separate reportable operating segments and are included in the “Corporate and Other” category in the tables below as they do not meet the quantitative threshold and from a qualitative perspective are not a core focus of the Company's main agribusiness activities. Prior years’ information has been restated to conform to the current year’s presentation. 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 harvest costs of oranges, specialty citrus and other crops. Revenues related to rental operations are included in “Corporate and Other.”

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 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.

22. Segment Information (continued)

Segment information for fiscal year 2020 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	124,150	$	13,413	$	—	$	8,806	$	13,568	$	159,937	$	4,622	$	164,559
Intersegment revenue	—		36,820		(36,820)		—		—		—		—		—
Total net revenues	124,150		50,233		(36,820)		8,806		13,568		159,937		4,622		164,559
Costs and expenses	125,305		42,563		(36,820)		5,168		12,122		148,338		25,132		173,470
Depreciation and amortization	—		—		—		—		—		8,943		1,154		10,097
Operating (loss) income	$	(1,155)	$	7,670	$	—	$	3,638	$	1,446	$	2,656	$	(21,664)	$	(19,008)

Segment information for fiscal year 2019 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	134,342	$	15,629	$	—	$	5,391	$	11,187	$	166,549	$	4,849	$	171,398
Intersegment revenue	—		30,073		(30,073)		—		—		—		—		—
Total net revenues	134,342		45,702		(30,073)		5,391		11,187		166,549		4,849		171,398
Costs and expenses	120,998		37,639		(30,073)		3,150		13,035		144,749		23,530		168,279
Depreciation and amortization	—		—		—		—		—		7,623		1,010		8,633
Operating income (loss)	$	13,344	$	8,063	$	—	$	2,241	$	(1,848)	$	14,177	$	(19,691)	$	(5,514)

Segment information for fiscal year 2018 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	94,840	$	8,990	$	—	$	6,576	$	13,938	$	124,344	$	5,048	$	129,392
Intersegment revenue	—		19,971		(19,971)		—		—		—		—		—
Total net revenues	94,840		28,961		(19,971)		6,576		13,938		124,344		5,048		129,392
Costs and expenses	74,809		23,071		(19,971)		4,399		9,531		91,839		20,792		112,631
Depreciation and amortization	—		—		—		—		—		6,244		1,031		7,275
Operating income (loss)	$	20,031	$	5,890	$	—	$	2,177	$	4,407	$	26,261	$	(16,775)	$	9,486

The following is a detail of other agribusiness revenues for fiscal years 2020, 2019 and 2018 (in thousands):


	Year Ended October 31,
	2020		2019		2018





Oranges	$	7,722	$	6,022	$	8,884
Specialty citrus and other crops	5,846		5,165		5,054
Other agribusiness revenues	$	13,568	$	11,187	$	13,938

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Oct. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated events subsequent to October 31, 2020 through the date of this filing, to assess the need for potential recognition or disclosure in this Annual Report. Based upon this evaluation, except as disclosed in the notes to consolidated financial statements, it was determined that no other subsequent events occurred that require recognition or disclosure in the consolidated financial statements.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Oct. 31, 2020

Accounting Policies [Abstract]

Principles of Consolidation

Use of Estimates

Accounts Receivable

Accounts ReceivableThe Company grants credit in the course of its operations to cooperatives, companies and lessees of the Company’s facilities. The Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company provides allowances on its receivables as required based on accounts receivable aging and other factors.

Concentrations

Cultural Costs

Income Taxes

Property, Plant and Equipment


Land improvements			10 – 30
Buildings and building improvements			10 – 50
Equipment			5 – 20
Orchards and vineyards			20 – 40

Capitalized Interest

Capitalized InterestInterest is capitalized on real estate development projects and significant construction in progress using the weighted average interest rate during the fiscal year.

Real Estate Development Costs

Real Estate Development CostsThe Company capitalizes the planning, entitlement, construction, development costs and interest associated with its various real estate projects. Costs that are not capitalized, which include property maintenance and repairs, general and administrative and marketing expenses, are expensed as incurred. A real estate development project is considered substantially complete upon the cessation of construction and development activities. Once a project is substantially completed, future costs are expensed as incurred.

Equity in Investments

Equity Securities

Equity SecuritiesThe Company’s equity securities, are stated at fair value with unrealized gains (losses) reported in net income.

Long-Lived Assets

Long-Lived and Intangible Assets

Intangible Assets

Long-Lived and Intangible Assets

Goodwill

GoodwillGoodwill is tested for impairment on an annual basis or when an event or changes in circumstances indicate that its carrying value may not be recoverable. Goodwill impairment is tested at the reporting unit level, which is defined as an operating segment or one level below the operating segment. 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 is 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. Goodwill impairment testing involves significant judgment and estimates.

Fair Values of Financial Instruments

2. Summary of Significant Accounting Policies (continued)

Fair Values of Financial Instruments (continued)

Business Combinations and Asset Acquisitions

Comprehensive (Loss) Income

Comprehensive (Loss) IncomeComprehensive (loss) income represents all changes in a company’s net assets, except changes resulting from transactions with shareholders.

Foreign Currency Translation

Foreign Currency TranslationSan Pablo and PDA’s functional currency is the Chilean Peso. Their balance sheets are translated to U.S. dollars at exchange rates in effect at the balance sheet date and their income statements are translated at average exchange rates during the reporting period. The resulting foreign currency translation adjustments are recorded as a separate component of accumulated other comprehensive (loss) income.

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)

2. Summary of Significant Accounting Policies (continued)

Revenue Recognition (continued)

Advertising Expense

Advertising ExpenseAdvertising costs are expensed as incurred.

Leases

Basic and Diluted Net (Loss) Income per Share

2. Summary of Significant Accounting Policies (continued)

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

Reclassifications and Adjustments

Reclassifications and AdjustmentsCertain reclassifications have been made to the prior years’ consolidated financial statements to conform to the October 31, 2020 presentation.

Defined Benefit Retirement Plan

Recent Accounting Pronouncements

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

2. Summary of Significant Accounting Policies (continued)

Recent Accounting Pronouncements (continued)

FASB ASU 2016-13, Financial Instruments -Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

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

FASB ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

2. Summary of Significant Accounting Policies (continued)

Recent Accounting Pronouncements (continued)

SEC Final Rule Release No. 33-10786, Amendments to Financial Disclosures About Acquired and Disposed Businesses

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Oct. 31, 2020

Accounting Policies [Abstract]

Estimated Useful Lives of Property, Plant and Equipment

Depreciation is computed using the straight-line method at rates based upon the estimated useful lives of the related assets as follows (in years):


Land improvements			10 – 30
Buildings and building improvements			10 – 50
Equipment			5 – 20
Orchards and vineyards			20 – 40

Summary of the Changes in Other Comprehensive (Loss) Income by Component

The following table summarizes the changes in other comprehensive (loss) income by component (in thousands):


	2020						2019						2018
	Pre-tax Amount		Tax (Expense) Benefit		Net Amount		Pre-tax Amount		Tax (Expense) Benefit		Net Amount		Pre-tax Amount		Tax (Expense) Benefit		Net Amount
Foreign currency translation adjustments	$	(707)	$	—	$	(707)	$	(1,103)	$	—	$	(1,103)	$	(1,255)	$	—	$	(1,255)
Minimum pension liability adjustments:
Other comprehensive (loss) gain before reclassifications	205		69		274		(859)		252		(607)		1,552		(415)		1,137

Available-for-sale securities:
Other comprehensive (loss) gain before reclassifications	—		—		—		—		—		—		6,765		(1,956)		4,809
Amounts reclassified to earnings included in "Selling, general and administrative"	—		140		140		—		—		—		(4,125)		1,160		(2,965)
Derivative instruments:
Other comprehensive gain before reclassifications	—		—		—		—		—		—		242		(79)		163

Other comprehensive (loss) income	$	(502)	$	209	$	(293)	$	(1,962)	$	252	$	(1,710)	$	3,179	$	(1,290)	$	1,889

Summary of the Changes in Accumulated Other Comprehensive (Loss) Income by Component

The following table summarizes the changes in accumulated other comprehensive (loss) income by component (in thousands):


	Foreign Currency Translation Loss		Defined Benefit Pension Plan		Available-for-Sale Securities		Other		Accumulated Other Comprehensive (Loss) Income
Balance as of October 31, 2017	$	(2)	$	(4,375)	$	11,591	$	(138)	$	7,076
Other comprehensive (loss) income	(1,255)		1,137		1,844		163		1,889
Balance as of October 31, 2018	(1,257)		(3,238)		13,435		25		8,965
Adoption of ASU 2016-01	—		—		(15,921)		—		(15,921)
Adoption of ASU 2018-02	(2)		(908)		2,346		(25)		1,411
Balance as of November 1, 2018	(1,259)		(4,146)		(140)		—		(5,545)
Other comprehensive (loss) income	(1,103)		(607)		—		—		(1,710)
Balance as of October 31, 2019	(2,362)		(4,753)		(140)		—		(7,255)
Other comprehensive (loss) income	(707)		274		140		—		(293)
Balance as of October 31, 2020	$	(3,069)	$	(4,479)	$	—	$	—	$	(7,548)

Acquisitions (Tables)

12 Months Ended

Oct. 31, 2020

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


Cultural costs	$	3,270
Land and land improvements	9,520
Buildings and building improvements	870
Orchards	8,410
Customer relationships, trademarks and non-competition agreement (10 year useful life)	6,920
Goodwill	123
Total assets acquired	29,113
Noncontrolling interest	(14,265)
Net cash paid	$	14,848

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

Fair Value Measurements (Tables)

12 Months Ended

Oct. 31, 2020

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured on a Recurring Basis by Level in the Fair Value Hierarchy


2019	Level 1		Level 2		Level 3		Total
Assets at fair value:
Equity securities	$	17,346	$	—	$	—	$	17,346

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Oct. 31, 2020

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

Schedule of Prepaid Expenses

Prepaid expenses and other current assets consist of the following at October 31 (in thousands):


	2020		2019
Prepaid supplies and insurance	$	2,080	$	3,199
Note receivable and related interest	2,490		181
Real estate development held for sale	2,543		2,543

Sales tax receivable	1,867		1,061
Lemon supplier advances and other	1,708		1,169
	$	10,688	$	8,153

Property, Plant and Equipment (Tables)

12 Months Ended

Oct. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consists of the following at October 31 (in thousands):


	2020		2019
Land	$	96,334	$	100,503
Land improvements	33,733		31,897
Buildings and building improvements	48,441		48,348
Equipment	60,124		56,709
Orchards	61,098		54,251
Construction in progress	20,469		26,934
	320,199		318,642
Less accumulated depreciation	(77,550)		(70,528)
	$	242,649	$	248,114

Real Estate Development (Tables)

12 Months Ended

Oct. 31, 2020

Real Estate [Abstract]

Schedule of Real Estate Development Assets

Real estate development assets are comprised primarily of land and land development costs and consist of the following at October 31 (in thousands):


	2020		2019
Retained property - East Area I	$	13,169	$	11,943
East Area II	8,467		5,659
	$	21,636	$	17,602

Equity in Investments (Tables)

12 Months Ended

Oct. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Financial Information of Equity Method Investees

The following is financial information of the equity method investees for fiscal years 2020, 2019 and 2018 (in thousands):


2020	Del Mar		Romney		Rosales		LLCB
Current assets	$	270	$	—	$	4,564	$	130,171
Non-current assets	$	817	$	670	$	2,218	$	—
Current liabilities	$	—	$	—	$	3,540	$	35,002
Non-current liabilities	$	—	$	—	$	1,449	$	—
Revenues	$	930	$	20	$	10,097	$	25,906
Operating (loss) income	$	(109)	$	(2)	$	1,216	$	2,615
Net (loss) income	$	(109)	$	(2)	$	476	$	2,615
2019
Current assets	$	454	$	—	$	3,016	$	138,170
Non-current assets	$	742	$	671	$	1,497	$	—
Current liabilities	$	—	$	—	$	2,803	$	51,216
Non-current liabilities	$	—	$	—	$	161	$	—
Revenues	$	2,290	$	15	$	8,898	$	37,788
Operating income (loss)	$	1,299	$	(5)	$	403	$	10,001
Net income (loss)	$	1,299	$	(5)	$	288	$	10,001
2018
Revenues	$	2,893	$	21	$	13,630	$	40
Operating income (loss)	$	1,755	$	(4)	$	1,745	$	(154)
Net income (loss)	$	1,755	$	(4)	$	1,243	$	(154)

Investment and Equity in Earnings (Losses) of Equity Method Investees

The Company’s investment and equity in earnings (losses) of the equity method investees are as follows (in thousands):


	Del Mar		Romney		Rosales		LLCB		Total
Investment balance October 31, 2017	$	1,968	$	515	$	1,944	$	9,634	$	14,061
Equity earnings (losses)	493		(3)		247		(154)		583
Cash distributions	(526)		—		—		—		(526)
Investment contributions	—		—		—		3,500		3,500
Loan guarantee	—		—		—		1,080		1,080
Investment balance October 31, 2018	1,935		512		2,191		14,060		18,698
Equity earnings (losses)	366		—		(163)		2,870		3,073
Cash distributions	(351)		—		(283)		—		(634)
Investment contributions	—		—		—		4,000		4,000
Capitalized interest adjustment	—		—		—		(267)		(267)
Reclassification of sale and leaseback deferral	—		—		—		33,353		33,353
Investment balance October 31, 2019	1,950		512		1,745		54,016		58,223
Equity earnings (losses)	(30)		(1)		44		326		339

Investment contributions	—		—		—		2,800		2,800

Foreign currency adjustments	—		—		(148)		—		(148)
Investment balance October 31, 2020	$	1,920	$	511	$	1,641	$	57,142	$	61,214

Goodwill and Intangible Assets (Tables)

12 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of the Change in the Carrying Amount of Goodwill

A summary of the change in the carrying amount of goodwill is as follows (in thousands):


	Goodwill Net Carrying Amount
October 31, 2018	$	1,431
Acquisition of Trapani Fresh	420
Foreign currency translation adjustment	(12)
October 31, 2019	1,839
Trapani Fresh purchase price adjustment	(297)
Foreign currency translation adjustment	(7)
October 31, 2020	$	1,535

Other Indefinite-Lived Intangible Assets

Intangible assets consisted of the following as of October 31, 2020 and 2019 (in thousands):


	October 31, 2020							October 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years
Intangible assets:
Trade names and trademarks	$	3,771	$	(947)	$	2,824	10	$	3,786	$	(542)	$	3,244	10
Customer relationships	5,010		(989)		4,021		9	5,010		(500)		4,510		9
Non-competition agreement	1,040		(147)		893		10	1,040		(42)		998		10
Acquired water and mineral rights	3,571		—		3,571		Indefinite	$	3,655	$	—	$	3,655	Indefinite
Intangible assets	$	13,392	$	(2,083)	$	11,309		$	13,491	$	(1,084)	$	12,407

Other Finite-Lived Intangible Assets

Intangible assets consisted of the following as of October 31, 2020 and 2019 (in thousands):


	October 31, 2020							October 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years
Intangible assets:
Trade names and trademarks	$	3,771	$	(947)	$	2,824	10	$	3,786	$	(542)	$	3,244	10
Customer relationships	5,010		(989)		4,021		9	5,010		(500)		4,510		9
Non-competition agreement	1,040		(147)		893		10	1,040		(42)		998		10
Acquired water and mineral rights	3,571		—		3,571		Indefinite	$	3,655	$	—	$	3,655	Indefinite
Intangible assets	$	13,392	$	(2,083)	$	11,309		$	13,491	$	(1,084)	$	12,407

Estimated Future Amortization Expense of Other Intangible Assets

Estimated future amortization expense of intangible assets for each of the next five fiscal years and thereafter are as follows (in thousands):


2021	$	1,040
2022	989
2023	989
2024	981
2025	976
Thereafter	2,763
	$	7,738

Accrued Liabilities (Tables)

12 Months Ended

Oct. 31, 2020

Accounts Payable and Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following at October 31 (in thousands):


	2020		2019
Compensation	$	2,275	$	1,973
Property taxes	683		652
Lemon and orange supplier payables	1,346		899
Operating expenses	938		3,191
Leases	959		129
Other	1,746		1,417
	$	7,947	$	8,261

Long-Term Debt (Tables)

12 Months Ended

Oct. 31, 2020

Debt Disclosure [Abstract]

Composition of Long-Term Debt

Long-term debt is comprised of the following at October 31 (in thousands):


	2020		2019
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 0.15% at October 31, 2020, plus 1.60%. The interest rate for the $40.0 million 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.	$	102,251	$	82,843

Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 2.48%. The loan is payable in quarterly installments through November 2022.	1,438		2,035

Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 3.24%. The loan is payable in monthly installments through October 2035.	1,029		1,078

Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 3.24%. The loan is payable in monthly installments through March 2036.	8,433		8,823

Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 2.77% until July 1, 2025, becoming variable for the remainder of the loan. The loan is payable in monthly installments though March 2036.	6,220		6,522

Wells Fargo term loan: The interest rate is fixed at 3.58%. The loan is payable in monthly installments through January 2023.	3,491		4,955

Banco de Chile term loan: The interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	1,205		1,386

Note Payable: The interest rate ranges from 5.00% to 7.00% and was 6.00% at October 31, 2020. The loan includes interest-only monthly payments and principal is due in February 2023.	1,435		1,435

Banco de Chile COVID-19 loans: The interest rates are fixed at 3.48%. The loans are payable in monthly installments beginning February 2021 through September 2024.	522		—
Subtotal	126,024		109,077
Less deferred financing costs, net of accumulated amortization	176		162
Total long-term debt, net	125,848		108,915
Less current portion	3,277		3,023
Long-term debt, less current portion	$	122,571	$	105,892

Principal Payments on Long-Term Debt

Principal payments on the Company’s long-term debt are due as follows (in thousands):


2021	$	3,277
2022	105,606
2023	3,157
2024	1,162
2025	1,450
Thereafter	11,372
	$	126,024

- 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

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+ Details

Leases (Tables)

12 Months Ended

Oct. 31, 2020

Leases [Abstract]

Components of the Company's Operating Lease Portfolio Included in Property, Plant and Equipment

The following table presents the components of the Company’s operating lease portfolio included in property, plant and equipment, net as of the dates indicated (in thousands):


	October 31, 2020		October 31, 2019
Land	$	3,522	$	1,279
Buildings, equipment and building improvements	18,516		22,841
Less: accumulated depreciation	(5,691)		(7,551)
Property, plant and equipment, net under operating leases	$	16,347	$	16,569

Composition of Rental Operations Revenue

The Company’s rental operations revenue consists of the following (in thousands):


	October 31, 2020
Operating lease payments	$	4,287
Variable lease payments	335
Total lease payments	$	4,622

Future Minimum Lease Payments to be Received Related to Net Operating Lease Agreements

The future minimum lease payments to be received by the Company related to these operating lease agreements as of October 31, 2020 are as follows (in thousands):


2021	$	713
2022	517
2023	344
2024	70
2025	70
Thereafter	925
Total	$	2,639

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases consists of the following (in thousands):


	Classification	October 31, 2020
Assets
Operating lease ROU assets	Other assets	$	2,053

Liabilities and Stockholders' Equity
Current operating lease liabilities	Accrued liabilities	521
Non-current operating lease liabilities	Other long-term liabilities	1,610
Total operating lease liabilities		$	2,131

Weighted-average remaining lease term (in years)		11.0
Weighted-average discount rate		3.8		%

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases consists of the following (in thousands):


	October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	559

ROU assets obtained in exchange for new operating lease liabilities	$	108

Future Minimum Lease Payments under Non-Cancellable Leases

Future minimum lease payments under non-cancellable leases for each of the subsequent five fiscal years and thereafter are as follows (in thousands):


2021	$	509
2022	358
2023	182
2024	151
2025	134
Thereafter	1,315
Total lease payments	2,649
Less: Imputed interest	(518)
Total	$	2,131

Future Minimum Lease Payments under Non-Cancellable Leases under Topic 840

A summary of the Company’s future minimum payments for obligations under non-cancellable operating leases as of October 31, 2019 was as follows (in thousands):


2020	$	688
2021	492
2022	291
2023	154
2024	134
Thereafter	1,382
Total	$	3,141

Earnings Per Share (Tables)

12 Months Ended

Oct. 31, 2020

Earnings Per Share [Abstract]

Computations for Basic and Diluted Net (Loss) Income Per Common Share

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


	Year ended October 31,
	2020		2019		2018
Basic net (loss) income per common share:
Net (loss) income applicable to common stock	$	(16,936)	$	(6,444)	$	19,687
Effect of unvested, restricted stock	(44)		(51)		(34)
Numerator: Net (loss) income for basic EPS	(16,980)		(6,495)		19,653
Denominator: Weighted average common shares-basic	17,666		17,580		15,581
Basic net (loss) income per common share	$	(0.96)	$	(0.37)	$	1.26

Diluted net (loss) income per common share:
Numerator: Net (loss) income for diluted EPS	$	(16,980)	$	(6,495)	$	20,188
Weighted average common shares-basic	17,666		17,580		15,581
Effect of dilutive unvested, restricted stock and preferred stock	—		—		628
Denominator: Weighted average common shares-diluted	17,666		17,580		16,209
Diluted net (loss) income per common share	$	(0.96)	$	(0.37)	$	1.25

Related-Party Transactions (Tables)

12 Months Ended

Oct. 31, 2020

Summary of Transactions with Related-Parties

The Company has transactions with various related-parties as summarized in the tables below (in thousands):


		October 31, 2020								October 31, 2019
		Balance Sheet								Balance Sheet
Ref	Related-Party	Receivables/Other from Related-Parties		Other Assets		Payables to Related-Parties		Other Long-Term Liabilities		Receivables/Other from Related-Parties		Other Assets		Accounts Payable		Payables to Related-Parties		Other Long-Term Liabilities

(2)	Mutual water companies	$	—	$	64	$	64	$	—	$	—	$	473	$	11	$	—	$	—
(3)	Cooperative association	$	—	$	—	$	123	$	—	$	—	$	—	$	35	$	—	$	—


(6)	Cadiz / Fenner / WAM	$	—	$	1,443	$	182	$	1,353	$	—	$	—	$	—	$	—	$	—
(7)	Colorado River Growers	$	81	$	—	$	—	$	—	$	376	$	—	$	—	$	—	$	—

(9)	FGF	$	2,213	$	—	$	604	$	—	$	2,609	$	—	$	—	$	906	$	—
(10)	LLCB	$	—	$	—	$	5,300	$	—	$	—	$	—	$	—	$	—	$	1,200


		Year Ended October 31, 2020										Year Ended October 31, 2019
		Consolidated Statement of Operations										Consolidated Statement of Operations
Ref	Related-Party	Net Revenue - Agribusiness		Net Revenue - Other Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid		Net Revenue - Agribusiness		Net Revenue - Other Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
(1)	Employees	$	—	$	785	$	—	$	—	$	—	$	—	$	744	$	—	$	—	$	—
(2)	Mutual water companies	$	—	$	—	$	894	$	—	$	—	$	—	$	—	$	838	$	—	$	—
(3)	Cooperative association	$	—	$	—	$	1,849	$	—	$	—	$	—	$	—	$	1,687	$	—	$	—
(4)	Calavo	$	8,806	$	330	$	1,223	$	220	$	503	$	3,080	$	400	$	1,096	$	250	$	506
(5)	Third party growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	10	$	—	$	—
(6)	Cadiz / Fenner / WAM	$	—	$	—	$	240	$	—	$	—	$	—	$	—	$	186	$	—	$	—
(7)	Colorado River Growers	$	603	$	—	$	6,613	$	—	$	—	$	306	$	—	$	5,476	$	—	$	—
(8)	YMIDD	$	—	$	—	$	139	$	—	$	—	$	—	$	—	$	150	$	—	$	—
(9)	FGF	$	10,338	$	—	$	13,478	$	—	$	—	$	14,471	$	—	$	10,300	$	—	$	—


		Year Ended October 31, 2018
		Consolidated Statement of Operations
Ref	Related-Party	Net Revenue - Agribusiness		Net Revenue - Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
(1)	Employees	$	—	$	706	$	—	$	—	$	—
(2)	Mutual water companies	$	—	$	—	$	1,102	$	—	$	—
(3)	Cooperative association	$	—	$	—	$	1,869	$	—	$	—
(4)	Calavo	$	6,576	$	293	$	367	$	285	$	432
(5)	Third party growers	$	—	$	—	$	2,279	$	—	$	—
(6)	Cadiz / Fenner / WAM	$	—	$	—	$	178	$	—	$	—
(7)	Colorado River Growers	$	374	$	—	$	3,707	$	—	$	—
(8)	YMIDD	$	—	$	—	$	213	$	—	$	—

15. Related-Party Transactions (continued)

(5) Third party growers - A member of the Company’s board of directors markets lemon through the Company.

(10) LLCB - Refer to Note 7 - Real Estate Development.

Income Taxes (Tables)

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

Reconciliation of Income before Income Taxes for Domestic and Foreign Locations

A reconciliation of income before income taxes for domestic and foreign locations for the years ended October 31, 2020, 2019 and 2018 are as follows (in thousands):


	2020		2019		2018
United States	$	(23,195)	$	(6,285)	$	13,099
Foreign	(3,240)		(278)		384
Income before income taxes	$	(26,435)	$	(6,563)	$	13,483

Components of the Provisions for Income Taxes

The components of the provisions for income taxes for fiscal years 2020, 2019 and 2018 are as follows (in thousands):


	2020		2019		2018
Current:
Federal	$	5,835	$	(7)	$	35
State	332		563		(444)
Foreign	194		(232)		(169)
Total current benefit (provision)	6,361		324		(578)

Deferred:
Federal	640		998		7,393
State	1,177		(302)		(212)
Foreign	316		77		126
Total deferred benefit	2,133		773		7,307
Total income tax benefit	$	8,494	$	1,097	$	6,729

Components of Deferred Income Tax Assets and Liabilities

October 31, 2020 and 2019 are as follows (in thousands):


	2020		2019
Deferred income tax assets:
Reserve and other accruals	$	643	$	823

Net operating losses	4,983		1,112


Right-of-use asset	578		—
Minimum pension liability adjustment	962		820
Amortization	325		295
Interest expense limitation	306		—
Stock based compensation	549		554
Total deferred income tax assets	8,346		3,604
Valuation allowance	(540)		(362)
Total net deferred income tax assets	7,806		3,242

Deferred income tax liabilities:
Property taxes	(173)		(150)
Depreciation	(16,930)		(13,630)
Land and other indefinite life assets	(6,905)		(6,887)
Investment in joint ventures and other basis adjustments	(4,097)		(2,105)

Right-of-use asset	(557)		—
Unrealized net gain on Calavo investment	—		(4,142)
Other	(1,241)		(674)
Total deferred income tax liabilities	(29,903)		(27,588)
Net deferred income tax liabilities	$	(22,097)	$	(24,346)

Deferred income taxes — noncurrent assets	$	333	$	—
Deferred income taxes — noncurrent liabilities	$	(22,430)	$	(24,346)

Summary of Net Operating Loss Carryforwards

The net operating losses begin to expire as follows (in thousands):

Jurisdiction

Gross Amount

Begin to Expire

Federal

12,161

Indefinite

State

15,190

10/31/2039

Chile

3,662

Indefinite

Argentina

1,684

10/31/2025

Reconciliation of Income Tax Provision from that Computed Using the Federal Statutory Rate


	2020				2019				2018
	Amount		%		Amount		%		Amount		%
Provision at statutory rates	$	5,551	(21.0)	%	$	1,351	(21.0)	%	$	(3,125)	(23.3)	%
State income tax, net of federal benefit	1,431		(5.4)	%	316		(4.9)	%	(768)		(5.7)	%
Dividend exclusion	27		(0.1)	%	28		(0.4)	%	49		0.4	%
Meals and entertainment	(18)		0.1	%	(90)		1.4	%	—		—
Transaction costs	—		—		(137)		2.1	%	—		—

Tax law change	1,948		(7.4)	%	—		—		10,295		76.4	%
State rate adjustment	(82)		0.3	%	(109)		1.7	%	—		—
Valuation allowance	(168)		0.6	%	(393)		6.1	%	—		—

Noncontrolling interest	(305)		1.1	%	116		(1.8)	%	—		—
Other permanent items	110		(0.4)	%	15		(0.3)	%	278		2.1	%
Total income tax benefit	$	8,494	(32.2)	%	$	1,097	(17.1)	%	$	6,729	49.9	%

Retirement Plans (Tables)

12 Months Ended

Oct. 31, 2020

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost for the Plan for fiscal years 2020 and 2019 were as follows (in thousands):


	2020		2019
Administrative expenses	$	278	$	188
Interest cost	641		828
Expected return on plan assets	(990)		(1,088)
Prior service cost	45		45
Amortization of net loss	739		402
Net periodic benefit cost	$	713	$	375

Summary of the Plan's Funded Status

Following is a summary of the Plan’s funded status as of October 31 (in thousands):


	2020		2019
Change in benefit obligation:
Benefit obligation at beginning of year	$	22,267	$	19,641
Administrative expenses	278		188
Interest cost	641		828
Benefits paid	(1,524)		(1,453)
Actuarial loss	1,236		3,063
Benefit obligation at end of year	$	22,898	$	22,267

Change in plan assets:
Fair value of plan assets at beginning of year	$	19,229	$	17,237
Actual return on plan assets	1,647		2,845
Employer contributions	—		600
Benefits paid	(1,524)		(1,453)
Fair value of plan assets at end of year	$	19,352	$	19,229

Reconciliation of funded status:
Fair value of plan assets	$	19,352	$	19,229
Benefit obligations	22,898		22,267
Net plan obligations	$	(3,546)	$	(3,038)

Amounts recognized in statements of financial position:
Noncurrent assets	$	—	$	—
Current liabilities	—		—
Noncurrent liabilities	(3,546)		(3,038)
Net obligation recognized in statements of financial position	$	(3,546)	$	(3,038)

Reconciliation of amounts recognized in statements of financial position:
Prior service cost	$	(144)	$	(189)
Net loss	(6,162)		(6,322)
Accumulated other comprehensive loss	(6,306)		(6,511)
Accumulated contributions in excess of net periodic benefit cost	2,760		3,473
Net deficit recognized in statements of financial position	$	(3,546)	$	(3,038)

Changes in Accumulated Other Comprehensive Income in the Plan

Presented below are changes in accumulated other comprehensive income, before tax, in the Plan as of October 31, (in thousands):


	2020		2019
Changes recognized in other comprehensive income:
Net loss arising during the year	$	579	$	1,306
Amortization of prior service cost	(45)		(45)
Amortization of net loss	(739)		(402)
Total recognized in other comprehensive income	$	(205)	$	859

Total recognized in net periodic benefit and other comprehensive income	$	508	$	1,234

Assumptions Used in Determining Benefit Obligations and Net Periodic Benefit Cost

The following assumptions, as of October 31, were used in determining benefit obligations and net periodic benefit cost ($ in thousands):


	2020			2019
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.50		%	3.00		%

Assumptions used to determine net periodic benefit cost:
Discount rate	3.00		%	4.40		%
Expected return on plan assets	5.66		%	6.31		%

Additional year-end information:
Projected benefit obligation	$	22,898		$	22,267
Accumulated benefit obligation	$	22,898		$	22,267
Fair value of plan assets	$	19,352		$	19,229

Benefits Expected to be Paid Over the Next 10 Fiscal Years

Benefit payments are expected to be paid over the next 10 fiscal years as follows (in thousands):


2021	$	1,295
2022	1,317
2023	1,362
2024	1,374
2025	1,368
Next five years	6,569
	$	13,285

Plan Assets Segregated by Fair Value Hierarchy Level

The following table sets forth the Plan’s assets as of October 31, 2020, segregated by level using the hierarchy established by FASB ASC 820, Fair Value Measurements and Disclosures (in thousands):


	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	157	$	—	$	—	$	157
Mutual funds	1,152		—		—		1,152
Pooled funds	—		18,043		—		18,043
	$	1,309	$	18,043	$	—	$	19,352

Stockholders' Equity (Tables)

12 Months Ended

Oct. 31, 2020

Stockholders' Equity Note [Abstract]

Summary of the Performance, Executive, and Director Awards Granted under the Stock Plan

A summary of the Performance, Executive, and Director awards granted under the Stock Plan during fiscal years 2020, 2019 and 2018, and the weighted average grant price is as follows:


	Year Ended October 31,
	2020			2019			2018
	Number of Shares	Weighted-Average Grant Price		Number of Shares	Weighted-Average Grant Price		Number of Shares	Weighted-Average Grant Price
Performance Awards	—	$	—	40,095	$	18.74	41,291	$	22.86
Executive Awards	95,000	$	18.87	90,000	$	19.84	90,000	$	22.19
Director Awards	17,841	$	20.05	15,642	$	21.65	14,033	$	22.00
Total	112,841	$	19.06	145,737	$	19.73	145,324	$	22.36

Summary of Restricted Stock Activity

A summary of the status of the Company’s nonvested shares as of October 31, 2020, and changes during the year ended October 31, 2020, is presented below.


	Number of Shares	Weighted-Average Grant Price
Nonvested at October 31, 2019	171,106	$	20.64
Vested	(117,646)	$	20.20

Granted	95,000	$	18.87
Nonvested at October 31, 2020	148,460	$	19.85

Segment Information (Tables)

12 Months Ended

Oct. 31, 2020

Segment Reporting [Abstract]

Summary of Segment Information and Revenues by Category

Segment information for fiscal year 2020 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	124,150	$	13,413	$	—	$	8,806	$	13,568	$	159,937	$	4,622	$	164,559
Intersegment revenue	—		36,820		(36,820)		—		—		—		—		—
Total net revenues	124,150		50,233		(36,820)		8,806		13,568		159,937		4,622		164,559
Costs and expenses	125,305		42,563		(36,820)		5,168		12,122		148,338		25,132		173,470
Depreciation and amortization	—		—		—		—		—		8,943		1,154		10,097
Operating (loss) income	$	(1,155)	$	7,670	$	—	$	3,638	$	1,446	$	2,656	$	(21,664)	$	(19,008)

Segment information for fiscal year 2019 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	134,342	$	15,629	$	—	$	5,391	$	11,187	$	166,549	$	4,849	$	171,398
Intersegment revenue	—		30,073		(30,073)		—		—		—		—		—
Total net revenues	134,342		45,702		(30,073)		5,391		11,187		166,549		4,849		171,398
Costs and expenses	120,998		37,639		(30,073)		3,150		13,035		144,749		23,530		168,279
Depreciation and amortization	—		—		—		—		—		7,623		1,010		8,633
Operating income (loss)	$	13,344	$	8,063	$	—	$	2,241	$	(1,848)	$	14,177	$	(19,691)	$	(5,514)

Segment information for fiscal year 2018 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	94,840	$	8,990	$	—	$	6,576	$	13,938	$	124,344	$	5,048	$	129,392
Intersegment revenue	—		19,971		(19,971)		—		—		—		—		—
Total net revenues	94,840		28,961		(19,971)		6,576		13,938		124,344		5,048		129,392
Costs and expenses	74,809		23,071		(19,971)		4,399		9,531		91,839		20,792		112,631
Depreciation and amortization	—		—		—		—		—		6,244		1,031		7,275
Operating income (loss)	$	20,031	$	5,890	$	—	$	2,177	$	4,407	$	26,261	$	(16,775)	$	9,486

The following is a detail of other agribusiness revenues for fiscal years 2020, 2019 and 2018 (in thousands):


	Year Ended October 31,
	2020		2019		2018





Oranges	$	7,722	$	6,022	$	8,884
Specialty citrus and other crops	5,846		5,165		5,054
Other agribusiness revenues	$	13,568	$	11,187	$	13,938

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)		12 Months Ended
	Jul. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Nov. 01, 2019	Oct. 31, 2017
Accounting Policies [Line Items]
Allowance for accounts receivable		$ 812,000	$ 631,000
Revenues		159,937,000	166,549,000	$ 124,344,000
Capitalized interest costs		921,000	1,369,000
Capitalized costs related to real estate projects		4,034,000	1,797,000
Goodwill impairment	$ 0	0	0	0
Costs and expenses		157,281,000	152,372,000	98,083,000
Agribusiness revenues from crop insurance proceeds		0	2,311,000	54,000
Advertising costs		239,000
Receivables/other from related parties		2,294,000	2,985,000
Payables to related parties		6,273,000	906,000
Accounts receivable, net		16,261,000	15,114,000
Accrued liabilities		7,947,000	8,261,000
Stockholders' equity		195,760,000	221,688,000	219,140,000		$ 136,793,000
Operating lease ROU assets		2,053,000
Operating lease liabilities		$ 2,131,000
Adjustment
Accounting Policies [Line Items]
Receivables/other from related parties			2,985,000
Payables to related parties			906,000
Accounts receivable, net			(2,985,000)
Accrued liabilities			$ (906,000)
Minimum
Accounting Policies [Line Items]
Estimated lives of definite-life intangible assets		8 years
Maximum
Accounting Policies [Line Items]
Estimated lives of definite-life intangible assets		9 years
Pension Plan
Accounting Policies [Line Items]
Assumed discount rate used to measure pension obligations		2.50%	3.00%
Increase in pension liability		$ 1,236,000	$ 3,063,000
Pension Plan \| Change in Assumptions for Defined Benefit Plans
Accounting Policies [Line Items]
Increase in pension liability		508,000
Accumulated Other Comprehensive Income
Accounting Policies [Line Items]
Stockholders' equity		(7,548,000)	(7,255,000)	8,965,000		$ 7,076,000
ASU 2016-02
Accounting Policies [Line Items]
Operating lease ROU assets					$ 2,400,000
Operating lease liabilities					$ 2,500,000
Avocados
Accounting Policies [Line Items]
Revenues		$ 8,806,000	$ 3,080,000	$ 6,576,000
Lemon \| Revenue
Accounting Policies [Line Items]
Concentration risk, percentage		39.00%	40.00%
Lemon \| Supplier Concentration Risk \| Revenue
Accounting Policies [Line Items]
Concentration risk, percentage		60.00%	60.00%	45.00%
Agribusiness \| ASU 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
Accounting Policies [Line Items]
Revenues			$ 8,827,000
Costs and expenses			8,827,000
Chile
Accounting Policies [Line Items]
Long-lived assets, net of accumulated depreciation		$ 15,261,000	15,600,000
Chile \| Lemon and Orange
Accounting Policies [Line Items]
Revenues		3,521,000	3,204,000	$ 2,800,000
Argentina
Accounting Policies [Line Items]
Long-lived assets, net of accumulated depreciation		18,576,000	18,700,000
Argentina \| Lemon and Orange
Accounting Policies [Line Items]
Revenues			$ 14,651,000
Argentina \| Lemon
Accounting Policies [Line Items]
Revenues		$ 14,150,000

Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details)	12 Months Ended
	Oct. 31, 2020
Land improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Land improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
Buildings and building improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Buildings and building improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	50 years
Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Orchards and vineyards \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Orchards and vineyards \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years

Summary of Significant Accounting Policies - Summary of the Changes in Other Comprehensive (Loss) Income by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Available-for-sale securities:
Amounts reclassified to earnings included in "Selling, general and administrative"	$ 0	$ 0	$ (2,965)
Derivative instruments:
Other comprehensive (loss) income	(323)	(1,749)	1,889
Accumulated Other Comprehensive Income
Pre-tax Amount
Foreign currency translation adjustments	(707)	(1,103)	(1,255)
Minimum pension liability adjustments:
Other comprehensive (loss) gain before reclassifications	205	(859)	1,552
Available-for-sale securities:
Other comprehensive (loss) gain before reclassifications	0	0	6,765
Amounts reclassified to earnings included in "Selling, general and administrative"	0	0	(4,125)
Derivative instruments:
Other comprehensive gain before reclassifications	0	0	242
Other comprehensive (loss) income	(502)	(1,962)	3,179
Tax (Expense) Benefit
Foreign currency translation adjustments	0	0	0
Minimum pension liability adjustments:
Other comprehensive (loss) gain before reclassifications	69	252	(415)
Available-for-sale securities:
Other comprehensive (loss) gain before reclassifications	0	0	(1,956)
Amounts reclassified to earnings included in "Selling, general and administrative"	140	0	1,160
Derivative instruments:
Other comprehensive gain before reclassifications	0	0	(79)
Other comprehensive (loss) income	209	252	(1,290)
Net Amount
Foreign currency translation adjustments	(707)	(1,103)	(1,255)
Minimum pension liability adjustments:
Other comprehensive (loss) gain before reclassifications	274	(607)	1,137
Available-for-sale securities:
Other comprehensive (loss) gain before reclassifications	0	0	4,809
Amounts reclassified to earnings included in "Selling, general and administrative"	140	0	(2,965)
Derivative instruments:
Other comprehensive gain before reclassifications	0	0	163
Other comprehensive (loss) income	$ (293)	$ (1,710)	$ 1,889

Summary of Significant Accounting Policies - Summary of the Changes in Accumulated Other Comprehensive (Loss) Income by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 221,688	$ 219,140	$ 136,793
Other comprehensive (loss) income	(323)	(1,749)	1,889
Ending balance	195,760	221,688	219,140
Accumulated Other Comprehensive (Loss) Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(7,255)	8,965	7,076
Other comprehensive (loss) income	(293)	(1,710)	1,889
Ending balance	(7,548)	(7,255)	8,965
Accumulated Other Comprehensive (Loss) Income \| Cumulative Effect Adjustment \| ASU 2016-01
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(15,921)
Ending balance			(15,921)
Accumulated Other Comprehensive (Loss) Income \| Cumulative Effect Adjustment \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		1,411
Ending balance			1,411
Accumulated Other Comprehensive (Loss) Income \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(5,545)
Ending balance			(5,545)
Foreign Currency Translation Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,362)	(1,257)	(2)
Other comprehensive (loss) income	(707)	(1,103)	(1,255)
Ending balance	(3,069)	(2,362)	(1,257)
Foreign Currency Translation Loss \| Cumulative Effect Adjustment \| ASU 2016-01
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		0
Ending balance			0
Foreign Currency Translation Loss \| Cumulative Effect Adjustment \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(2)
Ending balance			(2)
Foreign Currency Translation Loss \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(1,259)
Ending balance			(1,259)
Defined Benefit Pension Plan
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(4,753)	(3,238)	(4,375)
Other comprehensive (loss) income	274	(607)	1,137
Ending balance	(4,479)	(4,753)	(3,238)
Defined Benefit Pension Plan \| Cumulative Effect Adjustment \| ASU 2016-01
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		0
Ending balance			0
Defined Benefit Pension Plan \| Cumulative Effect Adjustment \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(908)
Ending balance			(908)
Defined Benefit Pension Plan \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(4,146)
Ending balance			(4,146)
Available-for-Sale Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(140)	13,435	11,591
Other comprehensive (loss) income	140	0	1,844
Ending balance	0	(140)	13,435
Available-for-Sale Securities \| Cumulative Effect Adjustment \| ASU 2016-01
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(15,921)
Ending balance			(15,921)
Available-for-Sale Securities \| Cumulative Effect Adjustment \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		2,346
Ending balance			2,346
Available-for-Sale Securities \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(140)
Ending balance			(140)
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	25	(138)
Other comprehensive (loss) income	0	0	163
Ending balance	$ 0	0	25
Other \| Cumulative Effect Adjustment \| ASU 2016-01
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		0
Ending balance			0
Other \| Cumulative Effect Adjustment \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(25)
Ending balance			(25)
Other \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		$ 0
Ending balance			$ 0

Acquisitions - Asset Acquisitions, Narrative (Details)		1 Months Ended	12 Months Ended
Acquisitions - Asset Acquisitions, Narrative (Details)	Jul. 18, 2018 USD ($) a segment	Jan. 31, 2019 USD ($) a	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Cash purchase price \| $			$ 0	$ 397,000	$ 13,111,000
San Pablo Ranch and Related Assets
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Pro forma revenue \| $					130,262,000
Pro forma net income (loss) \| $					$ 18,785,000
Orchard In Lindsay, California
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Cash purchase price \| $		$ 397,000
Area of land \| a		26
San Pablo Ranch and Related Assets
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Area of land \| a	3,317
Consideration transferred \| $	$ 13,000,000
Number of parcels of land \| segment	2
Transaction costs \| $	$ 111,000
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

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]
Orchards	$ 2,058

Acquisitions - Business Combinations, Narrative (Details)				1 Months Ended	5 Months Ended	12 Months Ended
	May 30, 2019 USD ($) a	Oct. 31, 2018 USD ($)	Jul. 24, 2018 USD ($)	Feb. 29, 2020 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)	Oct. 31, 2020 USD ($)	Jul. 26, 2018 USD ($)
Business Acquisition [Line Items]
Goodwill		$ 1,431,000			$ 1,839,000	$ 1,839,000	$ 1,431,000	$ 1,535,000
Trapani Fresh \| FGF Trapani
Business Acquisition [Line Items]
Ownership interest	49.00%
Finca Santa Clara \| Argentine Trust
Business Acquisition [Line Items]
Ownership interest	75.00%
Trapani Fresh
Business Acquisition [Line Items]
Ownership interest acquired	51.00%
Total consideration paid	$ 15,000,000
Transaction costs	654,000
Change in purchase consideration				$ 152,000
Goodwill	$ 123,000
Revenue since the acquisition date included in the statement of operations					14,651,000
Net income (loss) since the acquisition date included in the statement of operations					$ 999,000
Pro forma revenues						177,625,000	153,033,000
Pro forma net income (loss)						(6,092,000)	$ 21,942,055
Trapani Fresh \| Finca Santa Clara
Business Acquisition [Line Items]
Area of land \| a	1,200
Argentine Trust
Business Acquisition [Line Items]
Ownership interest acquired	51.00%
Oxnard Lemon
Business Acquisition [Line Items]
Total consideration paid			$ 25,000,000
Transaction costs		142,000
Goodwill									$ 570,000
Pro forma revenues						142,253,000
Pro forma net income (loss)						$ 19,728,000
Purchase price of initial acquisition			$ 24,750,000
Addition to purchase price at final closing date		$ 250,000

Acquisitions - Schedule of the Fair Value of Net Assets Acquired (Details) - USD ($) $ in Thousands	May 30, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Jul. 26, 2018
Business Acquisition [Line Items]
Goodwill		$ 1,535	$ 1,839	$ 1,431
Trapani Fresh
Business Acquisition [Line Items]
Cultural costs	$ 3,270
Buildings and building improvements	870
Intangible assets	6,920
Goodwill	123
Total assets acquired	29,113
Noncontrolling interest	(14,265)
Net cash paid	$ 14,848
Useful life	10 years
Trapani Fresh \| Land and land improvements
Business Acquisition [Line Items]
Land	$ 9,520
Trapani Fresh \| Orchards
Business Acquisition [Line Items]
Land	$ 8,410
Oxnard Lemon
Business Acquisition [Line Items]
Land					$ 7,294
Buildings and equipment					14,866
Intangible assets					2,270
Goodwill					570
Total assets acquired					$ 25,000

Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis by Level in the Fair Value Hierarchy (Details) - Measured on a Recurring Basis $ in Thousands	Oct. 31, 2019 USD ($)
Assets at fair value:
Equity securities	$ 17,346
Level 1
Assets at fair value:
Equity securities	17,346
Level 2
Assets at fair value:
Equity securities	0
Level 3
Assets at fair value:
Equity securities	$ 0

Fair Value Measurements - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net proceeds from sale of stock	$ 11,048	$ 4,785	$ 4,721
Gain (loss) on sale of stock	$ (6,299)	$ (2,117)	$ 4,223
Calavo Growers, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment owned shares (in shares)		200,000
Ownership interest		1.10%
Stock price (in dollars per share)		$ 86.73
Number of shares sold (in shares)	200,000	50,000	50,000
Net proceeds from sale of stock	$ 11,048	$ 4,785	$ 4,721
Gain (loss) on sale of stock	$ 6,299	$ (2,117)	$ 4,223

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid supplies and insurance	$ 2,080	$ 3,199
Note receivable and related interest	2,490	181
Real estate development held for sale	2,543	2,543
Sales tax receivable	1,867	1,061
Lemon supplier advances and other	1,708	1,169
Prepaid expenses and other current assets	$ 10,688	$ 8,153

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 320,199	$ 318,642
Less accumulated depreciation	(77,550)	(70,528)
Total property, plant and equipment	242,649	248,114
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	96,334	100,503
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	33,733	31,897
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	48,441	48,348
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	60,124	56,709
Orchards and vineyards
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	61,098	54,251
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 20,469	$ 26,934

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Aug. 26, 2020	Sep. 30, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Property, Plant and Equipment [Line Items]
Depreciation expense			$ 9,098	$ 7,944	$ 7,178
Net proceeds from sales of property assets			6,261	3,978	0
Gain (loss) on sale of property assets			$ (502)	$ 1,069	$ 0
Property Located in Lindsay, California
Property, Plant and Equipment [Line Items]
Net proceeds from the sale of property	$ 6,011
Property Located in Lindsay, California \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Property, Plant and Equipment [Line Items]
Loss on sale of real estate property	$ 424
Mercantile
Property, Plant and Equipment [Line Items]
Net proceeds from sales of property assets		$ 4,000
Gain (loss) on sale of property assets		$ 586

Real Estate Development - Schedule of Real Estate Development Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Real Estate Properties [Line Items]
Real estate development assets	$ 21,636	$ 17,602
Retained property - East Area I
Real Estate Properties [Line Items]
Real estate development assets	13,169	11,943
East Area II
Real Estate Properties [Line Items]
Real estate development assets	$ 8,467	$ 5,659

Real Estate Development - East Areas I and II, Narrative (Details)	1 Months Ended
	Jan. 31, 2018 USD ($)	Oct. 31, 2020 USD ($) Property	Feb. 29, 2020 USD ($)	Oct. 31, 2019 USD ($) Property	Nov. 10, 2015 USD ($)	Oct. 31, 2005 a property
Real Estate Properties [Line Items]
Loan balance		$ 125,848,000		$ 108,915,000
LLCB
Real Estate Properties [Line Items]
Number of residential units sold \| Property		144		210
Unsecured Line of Credit Loan Agreement and Promissory Note
Real Estate Properties [Line Items]
Estimated value of the guarantee obligation		$ 1,080,000
Unsecured Line of Credit Loan Agreement and Promissory Note \| LLCB
Real Estate Properties [Line Items]
Face amount of loan	$ 45,000,000
Loan balance		30,368,000
Unsecured Line of Credit Loan Agreement and Promissory Note \| LIBOR \| LLCB
Real Estate Properties [Line Items]
Basis spread on variable rate	2.85%
LLCB
Real Estate Properties [Line Items]
Payables to related parties				$ 1,200,000
Amount loaned to joint venture			$ 1,800,000
Interest rate			4.60%
LLCB \| Lewis Group of Companies
Real Estate Properties [Line Items]
Amount loaned to joint venture			$ 1,800,000
East Areas I and II
Real Estate Properties [Line Items]
Number of real estate properties \| property						2
Number of acres of land for real estate development \| a						550
East Area I \| Lewis Group of Companies
Real Estate Properties [Line Items]
Ownership interest					50.00%
Cost of equity method investment					$ 20,000,000
East Area I - Retained Property
Real Estate Properties [Line Items]
Estimated costs incurred by and reimbursable to LLCB		$ 5,300,000

Real Estate Development - Other Real Estate Development Projects, Narrative (Details) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended	12 Months Ended
	Jun. 01, 2021	Dec. 01, 2020	Dec. 31, 2017	Jan. 31, 2021	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Jan. 31, 2020
Real Estate Properties [Line Items]
Net proceeds from sale of real estate property					$ 2,543	$ 2,543
Net proceeds from sales of real estate development assets					0	2,886	$ 1,543
Collections on loan and note receivable					1,800	150	$ 200
Sevilla
Real Estate Properties [Line Items]
Net proceeds from sale of real estate property					2,543	$ 2,543
Sevilla \| Disposal Group, Not Discontinued Operations
Real Estate Properties [Line Items]
Consideration for sale of property								$ 2,700
Sevilla \| Disposal Group, Not Discontinued Operations \| Forecast
Real Estate Properties [Line Items]
Cash proceeds from sale of real estate				$ 2,550
Centennial
Real Estate Properties [Line Items]
Net proceeds from sale of real estate property			$ 2,983
Net proceeds from sales of real estate development assets			3,250
Proceeds from issuance of debt			$ 3,000
Carrying value of note					$ 2,650
Centennial \| Forecast
Real Estate Properties [Line Items]
Collections on loan and note receivable	$ 25	$ 25
Centennial \| LIBOR
Real Estate Properties [Line Items]
Interest rate spread on variable rate					2.75%

Equity in Investments - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2017	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2007	Oct. 31, 2015	Aug. 14, 2014	May 31, 2007
Schedule of Equity Method Investments [Line Items]
Payment to acquire equity method investment		$ 2,800	$ 4,000	$ 3,500
Net income from equity method investment prior to basis amortization		1,386	4,368
Goodwill		1,535	1,839	1,431
Amortization of intangible assets		999	689	84
Expected future amortization of intangible assets in 2021		1,040
Expected future amortization of intangible assets in 2022		989
Expected future amortization of intangible assets in 2023		989
Expected future amortization of intangible assets in 2024		981
Expected future amortization of intangible assets in 2025		976
Thereafter		2,763
Amortization of capitalized interest and certain other costs		$ 1,060	1,498
Limco Del Mar, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest		50.00%
Expense reimbursements received		$ 210	159	163
Limco Del Mar, Ltd. \| General Partner
Schedule of Equity Method Investments [Line Items]
Ownership interest		1.30%
Limco Del Mar, Ltd. \| Limited Partner
Schedule of Equity Method Investments [Line Items]
Ownership interest		26.80%
Limco Del Mar, Ltd. \| Limco Del Mar, Ltd.
Schedule of Equity Method Investments [Line Items]
Purchases from related parties		$ 1,037	1,674	2,361
Amounts due to related parties		$ 334	554
Romney Property Partnership
Schedule of Equity Method Investments [Line Items]
Ownership interest								75.00%
Payment to acquire equity method investment					$ 489
Romney Property Partnership \| Individual Partner in the Romney Property Partnership
Schedule of Equity Method Investments [Line Items]
Percentage of net profits, losses and cash flows received		25.00%
Rosales
Schedule of Equity Method Investments [Line Items]
Ownership interest		47.00%				35.00%
Difference between carrying amount and underlying equity	$ 925						$ 1,683
Goodwill	143						$ 343
Intangible assets acquired	$ 2,122
Amortization of intangible assets		$ 180	298	$ 337
Expected future amortization of intangible assets in 2021		179
Expected future amortization of intangible assets in 2022		118
Expected future amortization of intangible assets in 2023		87
Expected future amortization of intangible assets in 2024		76
Expected future amortization of intangible assets in 2025		32
Thereafter		43
Rosales \| PDA
Schedule of Equity Method Investments [Line Items]
Ownership interest				12.00%
Rosales \| Rosales
Schedule of Equity Method Investments [Line Items]
Amounts due from (to) related parties		(954)	156
Rosales \| Rosales \| Lemons and Oranges
Schedule of Equity Method Investments [Line Items]
Purchases from related parties		3,190	4,315	$ 7,658
Rosales \| Rosales \| Lemons
Schedule of Equity Method Investments [Line Items]
Revenue from related parties		3,975	$ 3,741	$ 3,849
LLCB
Schedule of Equity Method Investments [Line Items]
Difference between carrying amount and underlying equity		10,234
Historical investment in the project		$ 46,908

Equity in Investments - Financial Information of Equity Method Investees (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Schedule of Equity Method Investments [Line Items]
Current assets	$ 42,520	$ 35,070
Current liabilities	31,461	31,664
Revenues	164,559	171,398	$ 129,392
Net (loss) income	(17,941)	(5,466)	20,212
Del Mar
Schedule of Equity Method Investments [Line Items]
Current assets	270	454
Non-current assets	817	742
Current liabilities	0	0
Non-current liabilities	0	0
Revenues	930	2,290	2,893
Operating (loss) income	(109)	1,299	1,755
Net (loss) income	(109)	1,299	1,755
Romney
Schedule of Equity Method Investments [Line Items]
Current assets	0	0
Non-current assets	670	671
Current liabilities	0	0
Non-current liabilities	0	0
Revenues	20	15	21
Operating (loss) income	(2)	(5)	(4)
Net (loss) income	(2)	(5)	(4)
Rosales
Schedule of Equity Method Investments [Line Items]
Current assets	4,564	3,016
Non-current assets	2,218	1,497
Current liabilities	3,540	2,803
Non-current liabilities	1,449	161
Revenues	10,097	8,898	13,630
Operating (loss) income	1,216	403	1,745
Net (loss) income	476	288	1,243
LLCB
Schedule of Equity Method Investments [Line Items]
Current assets	130,171	138,170
Non-current assets	0	0
Current liabilities	35,002	51,216
Non-current liabilities	0	0
Revenues	25,906	37,788	40
Operating (loss) income	2,615	10,001	(154)
Net (loss) income	$ 2,615	$ 10,001	$ (154)

Equity in Investments - Investment and Equity in Earnings (Losses) of Equity Method Investees (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Investment balance	$ 58,223	$ 18,698	$ 14,061
Equity earnings (losses)	339	3,073	583
Cash distributions		(634)	(526)
Investment contributions	2,800	4,000	3,500
Capitalized interest adjustment		(267)
Reclassification of sale and leaseback deferral		33,353	1,080
Foreign currency adjustments	(148)
Investment balance	61,214	58,223	18,698
Del Mar
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Investment balance	1,950	1,935	1,968
Equity earnings (losses)	(30)	366	493
Cash distributions		(351)	(526)
Investment contributions	0	0	0
Capitalized interest adjustment		0
Reclassification of sale and leaseback deferral		0	0
Foreign currency adjustments	0
Investment balance	1,920	1,950	1,935
Romney
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Investment balance	512	512	515
Equity earnings (losses)	(1)	0	(3)
Cash distributions		0	0
Investment contributions	0	0	0
Capitalized interest adjustment		0
Reclassification of sale and leaseback deferral		0	0
Foreign currency adjustments	0
Investment balance	511	512	512
Rosales
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Investment balance	1,745	2,191	1,944
Equity earnings (losses)	44	(163)	247
Cash distributions		(283)	0
Investment contributions	0	0	0
Capitalized interest adjustment		0
Reclassification of sale and leaseback deferral		0	0
Foreign currency adjustments	(148)
Investment balance	1,641	1,745	2,191
LLCB
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Investment balance	54,016	14,060	9,634
Equity earnings (losses)	326	2,870	(154)
Cash distributions		0	0
Investment contributions	2,800	4,000	3,500
Capitalized interest adjustment		(267)
Reclassification of sale and leaseback deferral		33,353	1,080
Foreign currency adjustments	0
Investment balance	$ 57,142	$ 54,016	$ 14,060

Goodwill and Intangible Assets - Summary of the Change in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Goodwill [Roll Forward]
Goodwill	$ 1,839	$ 1,431
Acquisition		420
Trapani Fresh purchase price adjustment	(297)
Foreign currency translation adjustment	(7)	(12)
Goodwill	$ 1,535	$ 1,839

Goodwill and Intangible Assets - Narrative (Details) - USD ($)		12 Months Ended
	Jul. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Goodwill [Line Items]
Goodwill impairment losses	$ 0	$ 0	$ 0	$ 0
Goodwill		1,535,000	1,839,000	1,431,000
Amortization expense		999,000	$ 689,000	$ 84,000
Fresh Lemons
Goodwill [Line Items]
Goodwill		965,000
Lemon Packing
Goodwill [Line Items]
Goodwill		$ 570,000

Goodwill and Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (2,083)	$ (1,084)
Net Carrying Amount	7,738
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	13,392	13,491
Accumulated Amortization	(2,083)	(1,084)
Net Carrying Amount	11,309	12,407
Acquired water and mineral rights
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	3,571	3,655
Net Carrying Amount	3,571	3,655
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,771	3,786
Accumulated Amortization	(947)	(542)
Net Carrying Amount	$ 2,824	$ 3,244
Weighted Average Useful Life	10 years	10 years
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (947)	$ (542)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,010	5,010
Accumulated Amortization	(989)	(500)
Net Carrying Amount	$ 4,021	$ 4,510
Weighted Average Useful Life	9 years	9 years
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (989)	$ (500)
Non-competition agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,040	1,040
Accumulated Amortization	(147)	(42)
Net Carrying Amount	$ 893	$ 998
Weighted Average Useful Life	10 years	10 years
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (147)	$ (42)

Goodwill and Intangible Assets - Estimated Future Amortization Expense of Other Intangible Assets (Details) $ in Thousands	Oct. 31, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 1,040
2022	989
2023	989
2024	981
2025	976
Thereafter	2,763
Net Carrying Amount	$ 7,738

Other Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Other Assets [Abstract]
Investments in mutal water companies and acquired water rights	$ 5,563	$ 5,499

Accrued Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Compensation	$ 2,275	$ 1,973
Property taxes	683	652
Lemon and orange supplier payables	1,346	899
Operating expenses	938	3,191
Leases	959	129
Other	1,746	1,417
Total accrued liabilities	$ 7,947	$ 8,261

Long-Term Debt - Composition of Long-Term Debt (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 126,024,000	$ 109,077,000
Less deferred financing costs, net of accumulated amortization	176,000	162,000
Total long-term debt, net	125,848,000	108,915,000
Less current portion	3,277,000	3,023,000
Long-term debt, less current portion	122,571,000	105,892,000
Notes Payable
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,435,000	1,435,000
Variable interest rate	6.00%
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	$ 102,251,000	82,843,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Reference rate	0.15%
Basis spread on variable rate	1.60%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 40,000,000.0
Interest rate	4.77%
3.76% Farm Credit West Term Loan due November 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,438,000	2,035,000
Interest rate	2.48%
4.14% Farm Credit West Term Loan due October 2035
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,029,000	1,078,000
Interest rate	3.24%
4.17% Farm Credit West Term Loan due March 2036
Debt Instrument [Line Items]
Long-term debt, gross	$ 8,433,000	8,823,000
Interest rate	3.24%
3.62% Farm Credit West Term Loan due March 2036
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,220,000	6,522,000
Interest rate	2.77%
3.58% Wells Fargo Term Loan due January 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,491,000	4,955,000
Interest rate	3.58%
6.48% Banco de Chile Term Loan due January 2025
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,205,000	1,386,000
Interest rate	6.48%
Banco de Chile COVID-19 Loans
Debt Instrument [Line Items]
Long-term debt, gross	$ 522,000	$ 0
Interest rate	3.48%

Long-Term Debt - Narrative (Details)	1 Months Ended				12 Months Ended
Long-Term Debt - Narrative (Details)	Aug. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Feb. 29, 2020 USD ($)	Feb. 28, 2019 USD ($)	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Sep. 30, 2020 USD ($)	Jul. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Capitalized interest costs					$ 921,000	$ 1,369,000
Deferred financing costs, net of amortization					176,000	$ 162,000
Farm Credit West
Debt Instrument [Line Items]
Dividend receivable rate									1.00%
Dividends received	$ 600,000		$ 966,000	$ 853,000
Farm Credit West Revolving and Non-Revolving Lines of Credit
Debt Instrument [Line Items]
Borrowing capacity					130,000,000
Amount available to borrow					27,749,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity					75,000,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity					$ 40,000,000
Interest rate					4.77%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Equity Line of Credit
Debt Instrument [Line Items]
Borrowing capacity		$ 15,000,000			$ 15,000,000
Draw period		3 years
Term of payments		20 years
Farm Credit West Loan Agreement Secured by Windfall Investors, LLC Property
Debt Instrument [Line Items]
Debt service coverage ratio	1.25					1.25
Unsecured Loans Maturing July 2024 and September 2024 \| Unsecured Debt \| San Pablo and PDA
Debt Instrument [Line Items]
Face amount of loan							$ 522,000
Unsecured Loans Maturing July 2024 \| Unsecured Debt \| San Pablo and PDA
Debt Instrument [Line Items]
Interest rate								3.48%
Unsecured Loans Maturing September 2024 \| Unsecured Debt \| San Pablo and PDA
Debt Instrument [Line Items]
Interest rate							2.90%

Long-Term Debt - Principal Payments on Long-Term Debt (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Debt Disclosure [Abstract]
2021	$ 3,277
2022	105,606
2023	3,157
2024	1,162
2025	1,450
Thereafter	11,372
Total long-term debt, gross	$ 126,024	$ 109,077

Leases - Lessor Arrangements, Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Lessor, Lease, Description [Line Items]
Depreciation expense	$ 9,098	$ 7,944	$ 7,178
Contingent rental revenue		$ 355	$ 324
Minimum
Lessor, Lease, Description [Line Items]
Remaining terms of operating leases	1 month
Maximum
Lessor, Lease, Description [Line Items]
Remaining terms of operating leases	22 years
Assets Leased to Others
Lessor, Lease, Description [Line Items]
Depreciation expense	$ 664

Leases - Components of the Company's Operating Lease Portfolio Included in Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 320,199	$ 318,642
Less accumulated depreciation	(77,550)	(70,528)
Total property, plant and equipment	242,649	248,114
Assets Leased to Others
Property, Plant and Equipment [Line Items]
Less accumulated depreciation	(5,691)	(7,551)
Total property, plant and equipment	16,347	16,569
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,522	1,279
Buildings, equipment and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 18,516	$ 22,841

Leases - Composition of Rental Operations Revenue (Details) $ in Thousands	12 Months Ended
	Oct. 31, 2020 USD ($)
Leases [Abstract]
Operating lease payments	$ 4,287
Variable lease payments	335
Total lease payments	$ 4,622

Leases - Future Minimum Lease Payments to be Received by the Company Related to Lessor Operating Lease Arrangements (Details) $ in Thousands	Oct. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 713
2022	517
2023	344
2024	70
2025	70
Thereafter	925
Total	$ 2,639

Leases - Supplemental Balance Sheet Information Related to Leases (Details) $ in Thousands	Oct. 31, 2020 USD ($)
Assets
Operating lease ROU assets	$ 2,053
Liabilities and Stockholders' Equity
Current operating lease liabilities	521
Non-current operating lease liabilities	1,610
Total operating lease liabilities	$ 2,131
Weighted-average remaining lease term (in years)	11 years
Weighted-average discount rate	3.80%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent

Leases - Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	12 Months Ended
	Oct. 31, 2020 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 559
ROU assets obtained in exchange for new operating lease liabilities	$ 108

Leases - Lessee Arrangements, Narrative (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Dec. 31, 2018 USD ($) kilowatt	Oct. 31, 2018 USD ($) kilowatt	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease costs			$ 559
Minimum future payments under contract for pollination services in 2021			307
Minimum future payments under contract for pollination services in 2022			307
Minimum future payments under contract for pollination services in 2023			$ 51
Lease expense				$ 733	$ 2,028
Photovoltaic Generator Purchased in October 2018
Lessee, Lease, Description [Line Items]
Remaining lease terms				10 years
Generator capacity \| kilowatt		1,000
Purchase price of generator previously under an operating lease agreement		$ 1,125
Photovoltaic Generator Purchased in December 2018
Lessee, Lease, Description [Line Items]
Remaining lease terms	10 years
Generator capacity \| kilowatt	1,000
Purchase price of generator previously under an operating lease agreement	$ 1,275
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms			1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms			17 years

Leases - Future Minimum Lease Payments under Non-Cancellable Leases under Topic 842 (Details) $ in Thousands	Oct. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 509
2022	358
2023	182
2024	151
2025	134
Thereafter	1,315
Total lease payments	2,649
Less: Imputed interest	(518)
Total operating lease liabilities	$ 2,131

Leases - Future Minimum Lease Payments under Non-Cancellable Leases under Topic 840 (Details) $ in Thousands	Oct. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 688
2021	492
2022	291
2023	154
2024	134
Thereafter	1,382
Total	$ 3,141

Earnings Per Share - Computations for Basic and Diluted Net (Loss) Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Basic net (loss) income per common share:
Net (loss) income applicable to common stock	$ (16,936)	$ (6,444)	$ 19,687
Effect of unvested, restricted stock	(44)	(51)	(34)
Numerator: Net (loss) income for basic EPS	$ (16,980)	$ (6,495)	$ 19,653
Denominator: Weighted-average common shares outstanding-basic (in shares)	17,666	17,580	15,581
Basic net (loss) income per common share (in dollars per share)	$ (0.96)	$ (0.37)	$ 1.26
Diluted net (loss) income per common share:
Numerator: Net (loss) income for diluted EPS	$ (16,980)	$ (6,495)	$ 20,188
Weighted average common shares-basic (in shares)	17,666	17,580	15,581
Effect of dilutive unvested, restricted stock and preferred stock (in shares)	0	0	628
Weighted average common shares - diluted (in shares)	17,666	17,580	16,209
Diluted net (loss) income per common share (in dollars per share)	$ (0.96)	$ (0.37)	$ 1.25

Earnings Per Share - Narrative (Details) - shares shares in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Earnings Per Share [Abstract]
Shares excluded from the computation of diluted (losses) earnings per share (in shares)	164	119	70

Related-Party Transactions (Details)	12 Months Ended
Related-Party Transactions (Details)	Oct. 31, 2020 USD ($) shares	Oct. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)	Oct. 31, 2014 USD ($) a
Affiliate of WAM \| Limoneira Company Series B-2 Convertible Preferred Stock
Consolidated Statement of Operations
Shares of Series B-2 convertible preferred stock held (in shares) \| shares	9,300
Employees \| Affiliated Entity
Consolidated Statement of Operations
Net Revenue - Other Operations	$ 785,000	$ 744,000	$ 706,000
Other Income, Net	0	0	0
Dividends Paid	0	0	0
Rental payments due from employees	0	0
Employees \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	0	0	0
Agribusiness Expense and Other	0	0	0
Mutual water companies \| Affiliated Entity
Balance Sheet
Receivables/Other from Related-Parties	0	0
Other Assets	64,000	473,000
Accounts Payable		11,000
Payables to Related-Parties	64,000	0
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue - Other Operations	0	0	0
Other Income, Net	0	0	0
Dividends Paid	0	0	0
Mutual water companies \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	0	0	0
Agribusiness Expense and Other	894,000	838,000	1,102,000
Cooperative association \| Affiliated Entity
Balance Sheet
Receivables/Other from Related-Parties	0	0
Other Assets	0	0
Accounts Payable		35,000
Payables to Related-Parties	123,000	0
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue - Other Operations	0	0	0
Other Income, Net	0	0	0
Dividends Paid	0	0	0
Cooperative association \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	0	0	0
Agribusiness Expense and Other	1,849,000	1,687,000	1,869,000
Calavo \| Beneficial Owner
Consolidated Statement of Operations
Net Revenue - Other Operations	330,000	400,000	293,000
Other Income, Net	220,000	250,000	285,000
Dividends Paid	503,000	506,000	432,000
Calavo \| Beneficial Owner \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	8,806,000	3,080,000	6,576,000
Agribusiness Expense and Other	1,223,000	1,096,000	367,000
Third party growers \| Affiliated Entity
Consolidated Statement of Operations
Net Revenue - Other Operations	0	0	0
Other Income, Net	0	0	0
Dividends Paid	0	0	0
Third party growers \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	0	0	0
Agribusiness Expense and Other	0	10,000	2,279,000
Cadiz / Fenner / WAM \| Affiliated Entity
Balance Sheet
Receivables/Other from Related-Parties	0	0
Other Assets	1,443,000	0
Accounts Payable		0
Payables to Related-Parties	182,000	0
Other Long-Term Liabilities	1,353,000	0
Consolidated Statement of Operations
Net Revenue - Other Operations	0	0	0
Other Income, Net	0	0	0
Dividends Paid	0	0	0
Area of land \| a				670
Annual base rental per planted acre				$ 200
Percent of gross revenues paid as annual base rental				20.00%
Maximum annual base rental per planted acre				$ 1,200
Cadiz / Fenner / WAM \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	0	0	0
Agribusiness Expense and Other	240,000	186,000	178,000
Colorado River Growers \| Affiliated Entity
Balance Sheet
Receivables/Other from Related-Parties	81,000	376,000
Other Assets	0	0
Accounts Payable		0
Payables to Related-Parties	0	0
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue - Other Operations	0	0	0
Other Income, Net	0	0	0
Dividends Paid	0	0	0
Colorado River Growers \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	603,000	306,000	374,000
Agribusiness Expense and Other	6,613,000	5,476,000	3,707,000
YMIDD \| Affiliated Entity
Consolidated Statement of Operations
Net Revenue - Other Operations	0	0	0
Other Income, Net	0	0	0
Dividends Paid	0	0	0
YMIDD \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	0	0	0
Agribusiness Expense and Other	139,000	150,000	$ 213,000
FGF \| Co-venturer
Balance Sheet
Receivables/Other from Related-Parties	2,213,000	2,609,000
Other Assets	0	0
Accounts Payable		0
Payables to Related-Parties	604,000	906,000
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue - Other Operations	0	0
Other Income, Net	0	0
Dividends Paid	0	0
FGF \| Co-venturer \| Agribusiness
Consolidated Statement of Operations
Net Revenue - Agribusiness	10,338,000	14,471,000
Agribusiness Expense and Other	13,478,000	10,300,000
LLCB
Balance Sheet
Accounts Payable		1,200,000
LLCB \| Affiliated Entity
Balance Sheet
Receivables/Other from Related-Parties	0	0
Other Assets	0	0
Accounts Payable		0
Payables to Related-Parties	5,300,000	0
Other Long-Term Liabilities	$ 0	$ 1,200,000

Income Taxes - Reconciliation of Income before Income Taxes for Domestic and Foreign Locations (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ (23,195)	$ (6,285)	$ 13,099
Foreign	(3,240)	(278)	384
(Loss) income before income tax benefit	$ (26,435)	$ (6,563)	$ 13,483

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Components of the Provisions for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Current:
Federal	$ 5,835	$ (7)	$ 35
State	332	563	(444)
Foreign	194	(232)	(169)
Total current benefit (provision)	6,361	324	(578)
Deferred:
Federal	640	998	7,393
State	1,177	(302)	(212)
Foreign	316	77	126
Total deferred benefit	2,133	773	7,307
Total income tax benefit	$ 8,494	$ 1,097	$ 6,729

Income Taxes - Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019
Deferred income tax assets:
Reserve and other accruals	$ 643	$ 823
Net operating losses	4,983	1,112
Right-of-use asset	578	0
Minimum pension liability adjustment	962	820
Amortization	325	295
Interest expense limitation	306	0
Stock based compensation	549	554
Total deferred income tax assets	8,346	3,604
Valuation allowance	(540)	(362)
Total deferred income tax assets	7,806	3,242
Deferred income tax liabilities:
Property taxes	(173)	(150)
Depreciation	(16,930)	(13,630)
Land and other indefinite life assets	(6,905)	(6,887)
Investment in joint ventures and other basis adjustments	(4,097)	(2,105)
Right-of-use asset	(557)	0
Unrealized net gain on Calavo investment	0	(4,142)
Other	(1,241)	(674)
Total deferred income tax liabilities	(29,903)	(27,588)
Net deferred income tax liabilities	(22,097)	(24,346)
Deferred income taxes — noncurrent assets	333	0
Deferred income taxes — noncurrent liabilities	$ (22,430)	$ (24,346)

Income Taxes - Narrative (Details)		1 Months Ended		12 Months Ended
Income Taxes - Narrative (Details)	Mar. 27, 2020 USD ($)	Dec. 31, 2020 USD ($)	Oct. 31, 2020 USD ($) subsidiary	Oct. 31, 2018 USD ($)	Oct. 31, 2019 USD ($)
Operating Loss Carryforwards [Line Items]
Valuation allowance on deferred tax assets			$ 540,000		$ 362,000
Number of subsidiaries with valuation allowance recorded on deferred tax assets \| subsidiary			2
Operating loss carryforwards			$ 4,983,000
Unrecognized tax benefits			0		$ 0
Provisional amount related to the remeasurement of the Company's deferred tax balance				$ 10,295,000
COVID-19
Operating Loss Carryforwards [Line Items]
Discrete tax benefit	$ 1,948,000
Income tax refund	$ 5,801,000
Proceeds from income tax refund			841,000
COVID-19 \| Subsequent Event
Operating Loss Carryforwards [Line Items]
Proceeds from income tax refund		$ 4,960,000
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			$ 12,161,000
Net operating loss carryforward limitation as a percent of taxable income			80.00%
Disallowed interest expense carryforwards			$ 1,442,000
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			15,190,000
Disallowed interest expense carryforwards			$ 2,454,000

Income Taxes - Summary of Net Operating Loss Carryforwards (Details) $ in Thousands	Oct. 31, 2020 USD ($)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 4,983
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	12,161
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	15,190
Foreign \| Chile
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	3,662
Foreign \| Argentina
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 1,684

Income Taxes - Reconciliation of Income Tax Provision from that Computed Using the Federal Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Amount
Provision at statutory rates	$ 5,551	$ 1,351	$ (3,125)
State income tax, net of federal benefit	1,431	316	(768)
Dividend exclusion	27	28	49
Meals and entertainment	(18)	(90)	0
Transaction costs	0	(137)	0
Tax law change	1,948	0	10,295
State rate adjustment	(82)	(109)	0
Valuation allowance	(168)	(393)	0
Noncontrolling interest	(305)	116	0
Other permanent items	110	15	278
Total income tax benefit	$ 8,494	$ 1,097	$ 6,729
%
Provision at statutory rates	(21.00%)	(21.00%)	(23.30%)
State income tax, net of federal benefit	(5.40%)	(4.90%)	(5.70%)
Dividend exclusion	(0.10%)	(0.40%)	0.40%
Meals and entertainment	0.10%	1.40%	0.00%
Transaction costs	0.00%	2.10%	0.00%
Tax law change	(7.40%)	0.00%	76.40%
State rate adjustment	0.30%	1.70%	0.00%
Valuation allowance	0.60%	6.10%	0.00%
Noncontrolling interest	1.10%	(1.80%)	0.00%
Other permanent items	(0.40%)	(0.30%)	2.10%
Total income tax benefit	(32.20%)	(17.10%)	49.90%

Retirement Plans - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Funding contributions	$ 0	$ 600
Pension Plan \| Domestic Equity
Defined Benefit Plan Disclosure [Line Items]
Long-term asset allocation target percentage	30.00%
Pension Plan \| International Equity
Defined Benefit Plan Disclosure [Line Items]
Long-term asset allocation target percentage	10.00%
Pension Plan \| Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Long-term asset allocation target percentage	60.00%
401(k) Plan
Defined Benefit Plan Disclosure [Line Items]
Matching contribution percentage (up to)	4.00%
Maximum annual earnings that may be deferred (up to)	100.00%
Additional matching contribution percentage on deferrals (up to)	4.00%
Period after which employees are 100% vested	6 years
Annual vesting rate	20.00%
Plan contribution expense	$ 1,107	$ 927	$ 823

Retirement Plans - Components of Net Periodic Benefit Cost (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Administrative expenses	$ 278	$ 188
Interest cost	641	828
Expected return on plan assets	(990)	(1,088)
Prior service cost	45	45
Amortization of net loss	739	402
Net periodic benefit cost	$ 713	$ 375

Retirement Plans - Summary of the Plan's Funded Status (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Change in benefit obligation:
Benefit obligation at beginning of year	$ 22,267	$ 19,641
Administrative expenses	278	188
Interest cost	641	828
Benefits paid	(1,524)	(1,453)
Actuarial loss	1,236	3,063
Benefit obligation at end of year	22,898	22,267
Change in plan assets:
Fair value of plan assets at beginning of year	19,229	17,237
Actual return on plan assets	1,647	2,845
Employer contributions	0	600
Benefits paid	(1,524)	(1,453)
Fair value of plan assets at end of year	19,352	19,229
Amounts recognized in statements of financial position:
Noncurrent assets	0	0
Current liabilities	0	0
Noncurrent liabilities	(3,546)	(3,038)
Net obligation recognized in statements of financial position	(3,546)	(3,038)
Reconciliation of amounts recognized in statements of financial position:
Prior service cost	(144)	(189)
Net loss	(6,162)	(6,322)
Accumulated other comprehensive loss	(6,306)	(6,511)
Accumulated contributions in excess of net periodic benefit cost	$ 2,760	$ 3,473

Retirement Plans - Changes in Accumulated Other Comprehensive Income in the Plan (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Changes recognized in other comprehensive income:
Net loss arising during the year	$ 579	$ 1,306
Amortization of prior service cost	(45)	(45)
Amortization of net loss	(739)	(402)
Total recognized in other comprehensive income	(205)	859
Total recognized in net periodic benefit and other comprehensive income	$ 508	$ 1,234

Retirement Plans - Assumptions Used in Determining Benefit Obligations and Net Periodic Benefit Cost (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.50%	3.00%
Assumptions used to determine net periodic benefit cost:
Discount rate	3.00%	4.40%
Expected return on plan assets	5.66%	6.31%
Additional year-end information:
Projected benefit obligation	$ 22,898	$ 22,267	$ 19,641
Accumulated benefit obligation	22,898	22,267
Fair value of plan assets	$ 19,352	$ 19,229	$ 17,237

Retirement Plans - Benefits Expected to be Paid Over the Next 10 Fiscal Years (Details) - Pension Plan $ in Thousands	Oct. 31, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2021	$ 1,295
2022	1,317
2023	1,362
2024	1,374
2025	1,368
Next five years	6,569
Total	$ 13,285

Retirement Plans - Plan Assets Segregated by Fair Value Hierarchy Level (Details) - Pension Plan - USD ($) $ in Thousands	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 19,352	$ 19,229	$ 17,237
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	157
Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,152
Pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	18,043
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,309
Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	157
Level 1 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,152
Level 1 \| Pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	18,043
Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Level 2 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Level 2 \| Pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	18,043
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Level 3 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Level 3 \| Pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Series B and Series B-2 Preferred Stock (Details) $ / shares in Units, $ in Thousands	2 Months Ended	12 Months Ended
	Apr. 30, 2014 USD ($) $ / shares shares	Oct. 31, 2020 vote $ / shares shares	Oct. 31, 2019 $ / shares shares	Oct. 31, 2017 shares	Oct. 31, 2016 shares	Oct. 31, 2015 shares	Oct. 31, 1997 $ / shares shares
Common Stock
Temporary Equity [Line Items]
Shares issued upon conversion (in shares)				177,624	6,250	6,250
Series B Convertible Preferred Stock
Temporary Equity [Line Items]
Shares of convertible preferred stock issued (in shares)							30,000
Par value of convertible preferred stock (in dollars per share) \| $ / shares							$ 100.00
Cumulative cash dividend percentage		8.75%	8.75%
Number of votes \| vote		10
Preferred stock, shares outstanding (in shares)		14,790
Conversion price (in dollars per share) \| $ / shares		$ 8.00
Shares converted (in shares)				14,210	500	500
Series B-2 Convertible Preferred Stock
Temporary Equity [Line Items]
Shares of convertible preferred stock issued (in shares)	9,300
Par value of convertible preferred stock (in dollars per share) \| $ / shares	$ 100.00
Cumulative cash dividend percentage	4.00%	4.00%	4.00%
Number of votes \| vote		1
Preferred stock, shares outstanding (in shares)		9,300	9,300
Conversion price (in dollars per share) \| $ / shares		$ 15.00
Issuance of preferred stock \| $	$ 9,300
Conversion term		30 days
Liquidation preference per share (in dollars per share) \| $ / shares		$ 1,000	$ 1,000

Stockholders' Equity - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
Stockholders' Equity - Narrative (Details) - USD ($)	Dec. 31, 2020	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Dec. 15, 2020	Mar. 12, 2020
Class of Stock [Line Items]
Vesting period		3 years
Unrecognized stock-based compensation expense		$ 2,589,000
Compensation expense recognition period		3 years
Compensation expense recognized in the period		$ 2,044,000	$ 1,791,000	$ 1,368,000
Income tax benefit recognized in the income statement for stock-based compensation arrangements		400,000	324,000	328,000
Fair value of shares vested		$ 2,365,000	$ 1,788,000	$ 1,238,000
Shares repurchased (in shares)		250,977
Authorized repurchase amount						$ 10,000,000
Remaining authorization under the repurchase program		$ 6,507,000
Subsequent Event
Class of Stock [Line Items]
Dividends declared (in dollars per share)					$ 0.075
Dividends declared					$ 1,324,000
Management
Class of Stock [Line Items]
Shares exchanged for payroll taxes associated with the vesting of shares (in shares)		11,314	36,627	24,252
Fair value of shares exchanged for payroll taxes associated with the vesting of shares		$ 213,000	$ 606,000	$ 570,000
Shares repurchased (in shares)				15,330
Value of shares repurchased				$ 86,000
Performance Awards
Class of Stock [Line Items]
Vesting period		2 years
Restricted Stock \| Executive Awards \| Subsequent Event
Class of Stock [Line Items]
Shares granted (in shares)	95,000
Per share value of common stock granted (in dollars per share)	$ 15.26
Unrecognized stock-based compensation expense	$ 1,450,000
Restricted Stock \| Executive Awards \| Minimum
Class of Stock [Line Items]
Vesting period		3 years
Restricted Stock \| Executive Awards \| Maximum
Class of Stock [Line Items]
Vesting period		5 years
Stock Plan
Class of Stock [Line Items]
Remaining shares available to be issued (in shares)		281,225
Series A Junior Participating Preferred Stock
Class of Stock [Line Items]
Shares of preferred stock authorized (in shares)		20,000	20,000
Par value of preferred stock (in dollars per share)		$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)		0	0
Preferred stock, shares outstanding (in shares)		0	0

Stockholders' Equity - Summary of the Performance, Executive, and Director Awards Granted under the Stock Plan (Details) - $ / shares shares in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares	112,841	145,737	145,324
Weighted-Average Grant Price (in dollars per share)	$ 19.06	$ 19.73	$ 22.36
Director Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares	17,841	15,642	14,033
Weighted-Average Grant Price (in dollars per share)	$ 20.05	$ 21.65	$ 22.00
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares	0	40,095	41,291
Weighted-Average Grant Price (in dollars per share)	$ 0	$ 18.74	$ 22.86
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Grant Price (in dollars per share)	$ 18.87
Restricted Stock \| Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares	95,000	90,000	90,000
Weighted-Average Grant Price (in dollars per share)	$ 18.87	$ 19.84	$ 22.19

Stockholders' Equity - Summary of Restricted Stock Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Weighted-Average Grant Price
Granted (in dollars per share)	$ 19.06	$ 19.73	$ 22.36
Restricted Stock
Number of Shares
Beginning balance (in shares)	171,106
Vested (in shares)	(117,646)
Granted (in shares)	95,000
Ending balance (in shares)	148,460	171,106
Weighted-Average Grant Price
Outstanding (in dollars per share)	$ 20.64
Vested (in dollars per share)	20.20
Granted (in dollars per share)	18.87
Outstanding (in dollars per share)	$ 19.85	$ 20.64

Fruit Growers Supply Cooperative (Details) - USD ($)	1 Months Ended	12 Months Ended
Fruit Growers Supply Cooperative (Details) - USD ($)	Sep. 30, 2011	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Fruit Growers Supply Cooperative [Abstract]
Total amount of allocated after tax earnings from cooperative supply corporation		$ 216,000	$ 729,000
Amount of dividends received from cooperative supply corporation, recorded as reductions against agribusiness expenses		$ 513,000	0	$ 0
Amount of refund being sought by cooperative supply corporation	$ 586,000
Percent of dividends assigned to claim		50.00%
Loss contingency accrual			$ 251,000

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Oct. 31, 2020 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segment Information - Summary of Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 164,559	$ 171,398	$ 129,392
Costs and expenses	173,470	168,279	112,631
Depreciation and amortization	10,097	8,633	7,275
Operating (loss) income	(19,008)	(5,514)	9,486
Operating Segments
Segment Reporting Information [Line Items]
Revenues	164,559	171,398	129,392
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	36,820	30,073	19,971
Costs and expenses	(36,820)	(30,073)	(19,971)
Depreciation and amortization	0	0	0
Operating (loss) income	0	0	0
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	4,622	4,849	5,048
Costs and expenses	25,132	23,530	20,792
Depreciation and amortization	1,154	1,010	1,031
Operating (loss) income	(21,664)	(19,691)	(16,775)
Total Agribusiness
Segment Reporting Information [Line Items]
Revenues	159,937	166,549	124,344
Costs and expenses	148,338	144,749	91,839
Depreciation and amortization	8,943	7,623	6,244
Operating (loss) income	2,656	14,177	26,261
Total Agribusiness \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	159,937	166,549	124,344
Total Agribusiness \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0	0
Fresh Lemons
Segment Reporting Information [Line Items]
Revenues	124,150	134,342	94,840
Costs and expenses	125,305	120,998	74,809
Depreciation and amortization	0	0	0
Operating (loss) income	(1,155)	13,344	20,031
Fresh Lemons \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	124,150	134,342	94,840
Fresh Lemons \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0	0
Lemon Packing
Segment Reporting Information [Line Items]
Revenues	13,413	15,629	8,990
Costs and expenses	42,563	37,639	23,071
Depreciation and amortization	0	0	0
Operating (loss) income	7,670	8,063	5,890
Lemon Packing \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	50,233	45,702	28,961
Lemon Packing \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(36,820)	(30,073)	(19,971)
Avocados
Segment Reporting Information [Line Items]
Revenues		5,391	6,576
Costs and expenses	5,168	3,150	4,399
Depreciation and amortization	0	0	0
Operating (loss) income	3,638	2,241	2,177
Avocados \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	8,806	5,391	6,576
Avocados \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0	0
Other Agribusiness
Segment Reporting Information [Line Items]
Revenues	13,568	11,187	13,938
Costs and expenses	12,122	13,035	9,531
Depreciation and amortization	0	0	0
Operating (loss) income	1,446	(1,848)	4,407
Other Agribusiness \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	13,568	11,187	13,938
Other Agribusiness \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0

Segment Information - Revenues by Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 159,937	$ 166,549	$ 124,344
Other Agribusiness \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	13,568	11,187	13,938
Oranges \| Other Agribusiness \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	7,722	6,022	8,884
Specialty citrus and other crops \| Other Agribusiness \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 5,846	$ 5,165	$ 5,054

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
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-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details