0001342423-22-000009 | 10-K | XBRL Viewer

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Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Oct. 31, 2021	Dec. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Oct. 31, 2021
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			$ 268.1
Entity Common Stock, Shares Outstanding		17,700,038
Documents Incorporated by Reference	Portions of the Registrant’s Proxy Statement for the 2022 Annual Meeting of Stockholders, which we intend to hold on March 22, 2022, 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, 2021.
Entity Central Index Key	0001342423
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--10-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Current assets:
Cash	$ 439	$ 501
Accounts receivable, net	17,483	16,261
Cultural costs	7,500	6,865
Prepaid expenses and other current assets	10,709	10,688
Receivables/other from related parties	5,958	2,294
Income taxes receivable	0	5,911
Total current assets	42,089	42,520
Property, plant and equipment, net	242,420	242,649
Real estate development	22,828	21,636
Equity in investments	64,072	61,214
Goodwill	1,527	1,535
Intangible assets, net	8,329	11,309
Other assets	11,011	8,737
Total assets	392,276	389,600
Current liabilities:
Accounts payable	8,963	5,838
Growers and suppliers payable	10,371	8,126
Accrued liabilities	6,542	7,947
Payables to related parties	6,976	6,273
Current portion of long-term debt	2,472	3,277
Total current liabilities	35,324	31,461
Long-term liabilities:
Long-term debt, less current portion	130,353	122,571
Deferred income taxes	22,853	22,430
Other long-term liabilities	4,501	6,568
Total liabilities	193,031	183,030
Commitments and contingencies	0	0
Stockholders' equity:
Common Stock – $0.01 par value (39,000,000 shares authorized: 17,936,377 and 17,857,707 shares issued and 17,685,400 and 17,606,730 shares outstanding at October 31, 2021 and 2020, respectively)	179	179
Additional paid-in capital	163,965	162,084
Retained earnings	21,552	30,797
Accumulated other comprehensive loss	(5,733)	(7,548)
Treasury stock, at cost, 250,977 shares at October 31, 2021 and 2020	(3,493)	(3,493)
Noncontrolling interest	11,965	13,741
Total stockholders' equity	188,435	195,760
Total liabilities and stockholders' Equity	392,276	389,600
Series B Convertible Preferred Stock
Long-term liabilities:
Convertible preferred stock	1,479	1,479
Series B-2 Convertible Preferred Stock
Long-term liabilities:
Convertible preferred stock	9,331	9,331
Series A Junior Participating Preferred Stock
Stockholders' equity:
Series A Junior Participating Preferred Stock – $0.01 par value (20,000 shares authorized: zero issued or outstanding at October 31, 2021 and 2020)	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
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)	17,936,377	17,857,707
Common stock, shares outstanding (in shares)	17,685,400	17,606,730
Treasury stock (in shares)	250,977	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	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, 2021	Oct. 31, 2020	Oct. 31, 2019
Net revenues:
Agribusiness	$ 161,381	$ 159,937	$ 166,549
Other operations	4,646	4,622	4,849
Total net revenues	166,027	164,559	171,398
Costs and expenses:
Agribusiness	148,492	157,281	152,372
Other operations	4,332	4,504	4,439
Loss (gain) on disposal of assets	109	502	(1,069)
Selling, general and administrative	19,427	21,280	21,170
Total costs and expenses	172,360	183,567	176,912
Operating loss	(6,333)	(19,008)	(5,514)
Other income (expense):
Interest income	379	362	207
Interest expense, net of patronage dividends	(1,501)	(2,048)	(2,341)
Equity in earnings of investments, net	3,203	339	3,073
Loss on stock in Calavo Growers, Inc.	0	(6,299)	(2,117)
Other income, net	89	219	129
Total other income (expense)	2,170	(7,427)	(1,049)
Loss before income tax benefit	(4,163)	(26,435)	(6,563)
Income tax benefit	266	8,494	1,097
Net loss	(3,897)	(17,941)	(5,466)
Loss (income) attributable to noncontrolling interest	456	1,506	(477)
Net loss attributable to Limoneira Company	(3,441)	(16,435)	(5,943)
Preferred dividends	(501)	(501)	(501)
Net loss applicable to common stock	$ (3,942)	$ (16,936)	$ (6,444)
Basic net loss per common share (in dollars per share)	$ (0.23)	$ (0.96)	$ (0.37)
Diluted net loss per common share (in dollars per share)	$ (0.23)	$ (0.96)	$ (0.37)
Weighted-average common shares outstanding-basic (in shares)	17,555	17,666	17,580
Weighted-average common shares outstanding-diluted (in shares)	17,555	17,666	17,580
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Agribusiness	Agribusiness	Agribusiness
Cost, Product and Service [Extensible Enumeration]	Agribusiness	Agribusiness	Agribusiness

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (3,897)	$ (17,941)	$ (5,466)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(685)	(707)	(1,103)
Minimum pension liability adjustments, net of tax of $940, $(69) and $(252)	2,500	274	(607)
Residual state tax effects on sale of equity securities	0	140	0
Total other comprehensive income (loss), net of tax	1,815	(293)	(1,710)
Comprehensive loss	(2,082)	(18,234)	(7,176)
Comprehensive loss attributable to noncontrolling interest	445	1,536	438
Comprehensive loss attributable to Limoneira Company	$ (1,637)	$ (16,698)	$ (6,738)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Statement of Comprehensive Income [Abstract]
Minimum pension liability adjustments, tax benefit (expense)	$ 940	$ (69)	$ (252)

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 (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect Adjustment	Treasury Stock	Non-controlling Interest
Beginning balance (in shares) at Oct. 31, 2018				17,647,135
Beginning balance at Oct. 31, 2018	$ 219,140			$ 176	$ 159,071	$ 50,354				$ 8,965		$ 0	$ 574
Beginning balance (ASU 2016-01) at Oct. 31, 2018							$ 15,921				$ (15,921)
Beginning balance (ASU 2018-02) at Oct. 31, 2018							$ (1,411)				$ 1,411
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)
Noncontrolling interest adjustment	14,410												14,410
Net (loss) income	(5,466)					(5,943)							477
Other comprehensive loss, net of tax	(1,749)									(1,710)			(39)
Other comprehensive (loss) income, net of tax										(1,710)
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
Beginning balance, temporary equity at Oct. 31, 2018		1,479	9,331
Ending balance, temporary equity at Oct. 31, 2019		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends - common	(5,356)					(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 adjustment	$ (145)												(145)
Treasury shares (in shares)	(250,977)			(250,977)
Treasury shares	$ (3,493)											(3,493)
Net (loss) income	(17,941)					(16,435)							(1,506)
Other comprehensive loss, net of tax	(323)									(293)			(30)
Other comprehensive (loss) income, net of tax										(293)
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends - common	(5,303)					(5,303)
Dividends - preferred		(129)	(372)					$ (129)	$ (372)
Stock compensation (in shares)				125,663
Stock compensation	2,582			$ 1	2,581
Exchange of common stock (in shares)				(46,993)
Exchange of common stock	(701)			$ (1)	(700)
Noncontrolling interest adjustment	$ (1,331)												(1,331)
Treasury shares (in shares)	0
Net (loss) income	$ (3,897)					(3,441)							(456)
Other comprehensive loss, net of tax	1,826									1,815			11
Other comprehensive (loss) income, net of tax										1,815
Ending balance (in shares) at Oct. 31, 2021				17,685,400
Ending balance at Oct. 31, 2021	$ 188,435			$ 179	$ 163,965	$ 21,552				$ (5,733)		$ (3,493)	$ 11,965
Ending balance, temporary equity at Oct. 31, 2021		$ 1,479	$ 9,331

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY AND TEMPORARY EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Dividends on common stock (in dollars per share)	$ 0.30	$ 0.30	$ 0.30
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, 2021	Oct. 31, 2020	Oct. 31, 2019
Operating activities
Net loss	$ (3,897)	$ (17,941)	$ (5,466)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	9,812	10,097	8,633
Loss (gain) on disposal of assets	109	502	(1,069)
Stock compensation expense	2,582	2,044	1,791
Non-cash lease expense	520	470	0
Equity in earnings of investments, net	(3,203)	(339)	(3,073)
Cash distributions from equity investments	219	0	351
Deferred income taxes	(189)	(2,133)	(773)
Loss on stock in Calavo Growers, Inc.	0	6,299	2,117
Other, net	335	671	(393)
Changes in operating assets and liabilities, net of business combinations:
Account receivable and receivables/other from related parties	(5,076)	(309)	(4,012)
Cultural costs	(639)	359	1,447
Prepaid expenses and other current assets	(1,021)	(44)	(2,548)
Income taxes receivable	5,911	(4,932)	(601)
Other assets	(5)	411	(7)
Accounts payable and growers and suppliers payable	5,389	(5,545)	3,392
Accrued liabilities and payables to related parties	(730)	(685)	1,459
Other long-term liabilities	(512)	(242)	117
Net cash provided by (used in) operating activities	9,605	(11,317)	1,365
Investing activities
Capital expenditures	(9,834)	(10,599)	(15,867)
Net proceeds from sales of assets	119	6,261	3,978
Net proceeds from sales of real estate development assets	0	0	2,886
Agriculture property acquisition	0	0	(397)
Business combination	0	0	(15,000)
Net proceeds from sale of stock in Calavo Growers, Inc.	0	11,048	4,785
Loan to Limoneira Lewis Community Builders, LLC	0	(1,800)	0
Collection on loan and note receivable	25	1,800	150
Equity investment contributions	0	2,800	4,000
Cash distribution from equity investment	106	0	283
Investments in mutual water companies and water rights	(653)	(64)	(472)
Net cash (used in) provided by investing activities	(10,237)	3,846	(23,654)
Financing activities
Borrowings of long-term debt	102,196	121,056	122,899
Repayments of long-term debt	(95,140)	(104,066)	(93,994)
Principal paid on finance lease	(18)	0	0
Dividends paid - common	(5,303)	(5,356)	(5,331)
Dividends paid - preferred	(501)	(501)	(501)
Exchange of common stock	(700)	(213)	(605)
Purchase of treasury stock	0	(3,493)	0
Payments of deferred financing costs	0	(66)	(35)
Net cash provided by financing activities	534	7,361	22,433
Effect of exchange rate changes on cash	36	(5)	(137)
Net (decrease) increase in cash	(62)	(115)	7
Cash at beginning of year	501	616	609
Cash at end of year	439	501	616
Supplemental disclosures of cash flow information
Cash paid during the year for interest, net of amounts capitalized	1,503	1,865	2,532
Cash (received) paid during the year for income taxes, net	(5,911)	(1,235)	130
Non-cash investing and financing activities:
Decrease in real estate development and sale-leaseback deferral	0	0	(58,330)
Non-cash reduction of note receivable	0	0	89
Capital expenditures accrued but not paid at year-end	$ 657	$ 4,269	$ 1,333

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	1 Months Ended
	Dec. 31, 2018 USD ($)
Statement of Cash Flows [Abstract]
Decrease in real estate development and sale lease-back deferral	$ 58,330
Reclassification from joint venture to equity in investments	$ 33,353

Business	12 Months Ended
Business	Oct. 31, 2021
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, 2021

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 loss, statements of stockholders’ equity and temporary equity and statements of cash flows of Limoneira Company and consolidated subsidiaries. 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, 2021 and 2020 the allowances totaled $444,000 and $812,000, respectively. For fiscal years 2021, 2020 and 2019, 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 $6,594,000, $8,806,000 and $3,080,000 in fiscal years 2021, 2020 and 2019, 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. Two customers each represented 10% of revenue for the year ended October 31, 2021 and one customer represented 10% of revenue for the year ended October 31, 2020. No individual customer represented more than 10% of accounts receivable, net as of October 31, 2021 and one customer represented more than 10% of accounts receivable, net as of October 31, 2020.

Lemons procured from third-party growers were approximately 52%, 60% and 60% of the Company's lemon supply in fiscal years 2021, 2020 and 2019, respectively. One third-party grower was 46% and 39% of grower payable at October 31, 2021 and 2020, 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 2021, 2020 and 2019, the Company had approximately $2,976,000, $3,521,000 and $3,204,000, respectively, of total sales in Chile by Fruticola Pan de Azucar S.A. (“PDA”) and Agricola San Pablo SpA. ("San Pablo").

During fiscal years 2021, 2020 and 2019, the Company had approximately $3,633,000, $14,150,000 and $14,651,000, respectively, of total sales in Argentina by Trapani Fresh.

The majority of the Company's avocados, oranges and specialty citrus and other crops are sold to packinghouses and processors located in the United States. Most of its long-lived assets are located within the United States. Long-lived assets, net of accumulated depreciation, located in Chile were $14,322,000 and $15,261,000 as of October 31, 2021 and 2020, respectively, and located in Argentina were $19,700,000 and $18,576,000 as of October 31, 2021 and 2020, 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 bases 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

2. Summary of Significant Accounting Policies (continued)

Property, Plant and Equipment (continued)

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, pest control 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.

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. Capitalized interest 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 $1,192,000 and $4,034,000 in fiscal years 2021 and 2020, 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 had no equity securities as of October 31, 2021 and 2020.

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 ten 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 property and equipment, real estate development projects and 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 estimated 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.

COVID-19 Pandemic

There is uncertainty around the breadth and duration of the Company's business disruptions related to the COVID-19 pandemic. The decline in demand for the Company's products beginning the second quarter of fiscal year 2020, which it believes was due to the COVID-19 pandemic, negatively impacted its sales and profitability for the last three quarters of fiscal year 2020 and all of fiscal year 2021. The Company also expects COVID-19 to have some impact to its sales and profitability in future periods. The duration of these trends and the magnitude of such impacts are uncertain and therefore cannot be estimated at this time, as they are influenced by a number of factors, many of which are outside management’s control. The full impact of the COVID-19 pandemic on the Company's results of operations, financial condition, or liquidity, including its ability to comply with debt covenants, for fiscal year 2022 and beyond, is driven by estimates that contain uncertainties.

2. Summary of Significant Accounting Policies (continued)

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.

Fair Values of Financial Instruments

Accounts receivable, note receivable, accounts payable, growers and suppliers 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, 2021 and 2020.

Business Combination and Asset Acquisition

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. An asset acquisition is 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

Comprehensive loss represents all changes in a company’s net assets, except changes resulting from transactions with stockholders. 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 income (loss) is reported as a component of the Company's stockholders' equity.

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


	2021						2020						2019
	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	$	(685)	$	—	$	(685)	$	(707)	$	—	$	(707)	$	(1,103)	$	—	$	(1,103)
Minimum pension liability adjustments:
Other comprehensive gain (loss) before reclassifications	3,440		(940)		2,500		205		69		274		(859)		252		(607)

Available-for-sale securities:

Amounts reclassified to earnings included in "Selling, general and administrative"	—		—		—		—		140		140		—		—		—



Other comprehensive income (loss)	$	2,755	$	(940)	$	1,815	$	(502)	$	209	$	(293)	$	(1,962)	$	252	$	(1,710)

2. Summary of Significant Accounting Policies (continued)

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


	Foreign Currency Translation Loss		Defined Benefit Pension Plan		Available-for-Sale Securities		Other		Accumulated Other Comprehensive Income (Loss)
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	(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)
Other comprehensive (loss) income	(685)		2,500		—		—		1,815
Balance as of October 31, 2021	$	(3,754)	$	(1,979)	$	—	$	—	$	(5,733)

Foreign Currency

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 income (loss).

Aggregate foreign exchange transaction losses realized for the Company's foreign subsidiaries was approximately $646,000 for fiscal year 2021 and are included in selling, general and administrative expenses in the consolidated statements of operations.

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from contracts with customers, and recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. To achieve that core principle, the Company applies 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 determines 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.

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.

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.

2. Summary of Significant Accounting Policies (continued)

The Company’s avocados, oranges, specialty citrus and other specialty crops are packed and sold by Calavo and other third-party packinghouses. 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 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.

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 $2,311,000 in fiscal year 2019. No proceeds were received in fiscal years 2021 and 2020.

Advertising Expense

Advertising costs are expensed as incurred. Advertising costs were $178,000 and $239,000 in fiscal years 2021 and 2020, respectively, and were not material in fiscal year 2019.

Leases

Accounting for 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 and finance leases are included in other assets, accrued liabilities and other long-term liabilities on its consolidated balance sheets. 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. Lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The Company uses either its incremental borrowing rate based on the information available at commencement date, or the rate implicit in the lease, if known, in determining the present value of future payments.

Operating 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 per Share

Basic net loss 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 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, 2021, 2020 and 2019.

2. Summary of Significant Accounting Policies (continued)

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.

In fiscal year 2021, the Company decided to terminate the Plan effective December 31, 2021. The liabilities disclosed as of October 31, 2021, reflect an estimate of the additional cost to pay lump sums to a portion of the active and vested terminated participants and purchase annuities for all remaining participants from an insurance company.

During 2021, the Society of Actuaries (SOA) released a new mortality improvement scale table, referred to as MP-2021, which is believed to better reflect mortality improvements and is to be used in calculating defined benefit pension obligations. In addition, during fiscal year 2021, the assumed discount rate to measure the pension obligation decreased to 2.6%. The Company used the latest mortality tables released by the SOA through October 2021 to measure its pension obligation as of October 31, 2021 and combined with the assumed discount rate and other demographic assumptions, its pension liability decreased by approximately $2,699,000 as of October 31, 2021. Further changes in any of these estimates could materially affect the amounts recorded that are related to the Company's defined benefit retirement plan.

Recent Accounting Pronouncements

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

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 adopted this ASU effective November 1, 2020 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 currently 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.

Acquisitions

12 Months Ended

Oct. 31, 2021

Business Combination and Asset Acquisition [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.

3. Acquisitions (continued)

Trapani Fresh Business Combination

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 held 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 fresh citrus.

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 was 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 year ended October 31, 2019 would have resulted in revenues of $177,625,000 and net loss of $6,092,000.

In June 2021, the Company entered into an agreement, effective March 1, 2021, to sell and license certain assets of Trapani Fresh to FGF. These assets consist of packing supplies and certain intangible assets related to the packing, marketing, and selling business of Trapani Fresh. The total consideration to be received is approximately $3,900,000 over an 8-year term in 16 equal installments. Payments to be received are secured by FGF’s interest in land parcels at the Santa Clara ranch and consist of a $1,200,000 note receivable and $2,700,000 of royalty payments. There was no material gain or loss recognized on the transaction. In August 2021, the Company entered into several additional agreements whereby the additional 25% interest in Santa Clara was transferred into the trust resulting in the trust now holding a 100% interest in Santa Clara. Trapani Fresh owns and operates the 1,200-acre Santa Clara ranch and now sells the lemons it grows to FGF, who packs, markets, and sells the fruit to its export customers. As a result of this transaction, Trapani Fresh now recognizes lemon revenues at the market price less packinghouse charges to harvest, pack and market the fruit.

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Oct. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsUnder 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).4. Fair Value Measurements (continued)At October 31, 2019, the Company owned equity securities consisting of marketable securities in Calavo common stock of 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 were 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.

- 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, 2021

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):


	2021		2020
Prepaid supplies and insurance	$	2,521	$	2,080
Note receivable and related interest	2,438		2,490
Real estate development held for sale	2,543		2,543

Sales tax receivable	909		1,867
Lemon supplier advances and other	2,298		1,708
	$	10,709	$	10,688

Property, Plant and Equipment

12 Months Ended

Oct. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

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


	2021		2020
Land	$	95,868	$	96,334
Land improvements	35,440		33,733
Buildings and building improvements	48,565		48,441
Equipment	62,598		60,124
Orchards	63,454		61,098
Construction in progress	22,477		20,469
	328,402		320,199
Less accumulated depreciation	(85,982)		(77,550)
	$	242,420	$	242,649

Depreciation expense was $8,883,000, $9,098,000 and $7,944,000 for fiscal years 2021, 2020 and 2019, 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 disposal of 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 disposal of assets in the consolidated statement of operations.

Real Estate Development

12 Months Ended

Oct. 31, 2021

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):


	2021		2020
East Area I - Retained property	$	13,335	$	13,169
East Area II	9,493		8,467
	$	22,828	$	21,636

7. Real Estate Development (continued)

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 "Transaction Date"), the Company entered into a joint venture with The Lewis Group of Companies (“Lewis”) for the residential development of its East Area I real estate development project. To consummate the transaction, the Company formed Limoneira Lewis Community Builders, LLC (“LLCB”) as the development entity, contributed its East Area I property to LLCB and sold a 50% interest in LLCB to Lewis for $20,000,000.

The Company and the joint venture also entered into a Retained Property Development Agreement on the Transaction Date (the "Retained Property Agreement"). Under the terms of the Retained Property Agreement, the joint venture will transfer certain contributed East Area I property, which is entitled for commercial development, back to the Company (the "Retained Property") and arranged for the design and construction of certain improvements to the Retained Property, subject to certain reimbursements by the Company. The balance in Retained Property and East Area II includes estimated costs incurred by and reimbursable to LLCB of $5,771,000 and $5,300,000 at October 31, 2021 and 2020, respectively, which is included in payables to related parties.

In January 2018, LLCB 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, as modified and extended, matures February 22, 2023. The interest rate on the Loan is LIBOR plus 2.85%, and is payable monthly. The Loan contains certain customary default provisions and LLCB may prepay any amounts outstanding under the Loan without penalty. The joint venture had an outstanding balance of zero as of October 31, 2021. The Loan has a one year extension option through February 22, 2024 subject to terms and conditions as defined in the agreement, with the maximum borrowing amount reduced to $35,000,000 during the extension period.

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 LLCB. 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 value 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 LLCB 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 LLCB at an interest rate of 4.6%, which was repaid in June 2020.

Through October 31, 2021, the joint venture has closed sales of the initial residential lots representing 586 residential units.

Other Real Estate Development Projects

The remaining real estate development parcel within the Templeton Santa Barbara, LLC project is described as Sevilla. In fiscal year 2020, the Company entered into an agreement to sell its Sevilla property for $2,700,000, which is expected to close in the second quarter of fiscal year 2022. 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, 2021 and 2020, 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 originally scheduled to mature in December 2019 but has been periodically extended with principal payments totaling $400,000 received through October 31, 2021. In November 2021, the promissory note was further extended to June 30, 2022 upon making a principal paydown of $250,000, which was paid in November 2021, and revising the interest rate to 4.00% per annum, with an option to further extend the maturity date of the promissory note to September 30, 2022 upon making an additional principal paydown of $250,000. At October 31, 2021, the net carrying value of the note was $2,600,000 and classified in prepaid expenses and other current assets.

Equity in Investments

12 Months Ended

Oct. 31, 2021

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 $200,000, $210,000 and $159,000 in fiscal years 2021, 2020 and 2019, respectively. Del Mar markets lemons through the Company pursuant to its customary marketing agreements and the amount of lemons procured from Del Mar was $1,681,000, $1,037,000 and $1,674,000 in fiscal years 2021, 2020 and 2019, respectively. Fruit proceeds due to Del Mar were $694,000 and $334,000 at October 31, 2021 and 2020, 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, $180,000 and $298,000 for fiscal years 2021, 2020 and 2019, respectively, and is estimated to be approximately $118,000 $87,000 and $76,000 per year for years ending October 31, 2022 through October 31, 2024, respectively, and immaterial thereafter.

The Company recognized $3,405,000, $3,975,000 and $3,741,000 of lemon sales to Rosales in fiscal years 2021, 2020 and 2019, respectively. In fiscal years 2021, 2020 and 2019, the aggregate amount of lemons and oranges procured from Rosales was $5,304,000, $3,190,000 and $4,315,000, respectively. Amounts due from (to) Rosales were $1,570,000 and $(954,000) at October 31, 2021 and 2020, respectively, and are included in receivables/other from related parties and payables to related parties, respectively.

8. Equity in Investments (continued)

Limoneira Lewis Community Builders, LLC (“LLCB”)

As described in Note 7 – Real Estate Development, the Company has 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 deemed significant for the years ended October 31, 2021 and 2019 but was not deemed significant for the year ended October 31, 2020. Therefore, the audited financial statements of LLCB for the years ended October 31, 2021, 2020 and 2019 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 $51,416,000 as of October 31, 2021. The basis difference of $8,801,000 at October 31, 2021 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 2021, 2020 and 2019 totaled $1,434,000, $1,060,000 and $1,498,000, respectively. The Company's share of LLCB's net income for fiscal years 2021, 2020 and 2019 prior to basis amortization was $4,508,000, $1,386,000 and $4,368,000, respectively.

The following is financial information of the equity method investees for fiscal years 2021, 2020 and 2019 (in thousands):


2021	Del Mar		Romney		Rosales		LLCB
Current assets	$	492	$	—	$	3,544	$	108,964
Non-current assets	$	865	$	617	$	2,406	$	—
Current liabilities	$	—	$	—	$	2,362	$	4,708
Non-current liabilities	$	—	$	—	$	2,083	$	—
Revenues	$	2,059	$	17	$	9,862	$	42,853
Operating income (loss)	$	1,052	$	(4)	$	438	$	9,087
Net income (loss)	$	1,052	$	(4)	$	35	$	9,087
2020
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
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

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, 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
Equity earnings (losses)	296		(3)		(164)		3,074		3,203
Cash distributions	(219)		—		(106)		—		(325)

Foreign currency adjustments	—		—		(20)		—		(20)
Investment balance October 31, 2021	$	1,997	$	508	$	1,351	$	60,216	$	64,072

Goodwill and Intangible Assets, Net

12 Months Ended

Oct. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets, Net

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


	Goodwill Carrying Amount
Balance at October 31, 2019	$	1,839
Trapani Fresh purchase price adjustment	(297)
Foreign currency translation adjustment	(7)
Balance at October 31, 2020	1,535
Foreign currency translation adjustment	(8)
Balance at October 31, 2021	$	1,527

See Note 3 - Acquisitions for additional information regarding the Trapani Fresh purchase price adjustment.

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, 2021 with no impairment noted. The Company did not incur any goodwill impairment losses in fiscal years 2021, 2020 or 2019, as the estimated fair values of its reporting units were in excess of their carrying values.

As of October 31, 2021, the Company has allocated goodwill to its reportable segments as follows: Fresh Lemons $957,000 and Lemon Packing $570,000.

During the fiscal year ended October 31, 2021, the Company acquired additional water rights in Chile for $186,000.

9. Goodwill and Intangible Assets, Net (continued)

Intangible assets consisted of the following as of October 31, 2021 and 2020 (in thousands):


	October 31, 2021							October 31, 2020
	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	$	2,108	$	(663)	$	1,445	8	$	3,771	$	(947)	$	2,824	10
Customer relationships	4,037		(1,209)		2,828		9	5,010		(989)		4,021		9
Non-competition agreement	437		(22)		415		8	1,040		(147)		893		10
Acquired water and mineral rights	3,641		—		3,641		Indefinite	$	3,571	$	—	$	3,571	Indefinite
Intangible assets	$	10,223	$	(1,894)	$	8,329		$	13,392	$	(2,083)	$	11,309

Amortization expense totaled $929,000, $999,000, and $689,000 for the years ended October 31, 2021, 2020 and 2019, respectively.

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


2022	$	724
2023	724
2024	716
2025	711
2026	711
Thereafter	1,102
	$	4,688

Other Assets	12 Months Ended
Other Assets	Oct. 31, 2021
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, 2021 and 2020 were $5,994,000 and $5,563,000, respectively.

Accrued Liabilities

12 Months Ended

Oct. 31, 2021

Accounts Payable and Accrued Liabilities, Current [Abstract]

Accrued Liabilities

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


	2021		2020
Compensation	$	2,112	$	2,275
Property taxes	676		683
Lemon and orange supplier payables	—		1,346
Operating expenses	1,203		938
Leases	604		959
Other	1,947		1,746
	$	6,542	$	7,947

Long-Term Debt

12 Months Ended

Oct. 31, 2021

Debt Disclosure [Abstract]

Long-Term Debt

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


	2021		2020
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 0.09% at October 31, 2021, plus 1.85%. The interest rate for the $40.0 million outstanding balance of the non-revolving line of credit was fixed at 4.77% through July 1, 2022, 3.57% through July 1, 2025 and variable interest thereafter. Interest is payable monthly and the principal is due in full on July 1, 2026.	$	111,293	$	102,251

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.	809		1,438

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.	974		1,029

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.	8,004		8,433

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.	5,892		6,220

Wells Fargo term loan: The loan was repaid in August 2021 with proceeds from the Farm Credit West term loan.	—		3,491

Farm Credit West term loan: Effective August 2, 2021, the interest rate was fixed at 3.19%. The loan is payable in monthly installments through September 2026.	2,475		—

Banco de Chile term loan: The interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	1,011		1,205

Note Payable: The interest rate ranges from 5.00% to 7.00% and was 6.50% at October 31, 2021. 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.	411		522

Banco de Chile COVID-19 loans: The interest rates are fixed at 3.48% and 4.26%. The loans are payable in monthly installments beginning September 2021 through September 2026.	652		—
Subtotal	132,956		126,024
Less deferred financing costs, net of accumulated amortization	131		176
Total long-term debt, net	132,825		125,848
Less current portion	2,472		3,277
Long-term debt, less current portion	$	130,353	$	122,571

In August 2021, the Company entered into an equipment finance agreement (the "FCW term loan") with Farm Credit West, PCA (the “Lender”) and used the proceeds to pay off the Wells Fargo term loan. The FCW term loan has a fixed interest rate of 3.19% and is payable in monthly installments through September 2026. There were no unamortized debt financing costs related to the Wells Fargo term loan and no capitalized financing costs related to the FCW term loan.

In June 2021, the Company entered into a Master Loan Agreement (the “MLA”) with Lender dated June 1, 2021, together with a revolving credit facility supplement (the “Revolving Credit Supplement”), a non-revolving credit facility supplement (the “Non-Revolving Credit Supplement,” and together with the Revolving Credit Supplement, the “Supplements”) and an agreement to convert to fixed interest rate for a period of time as described in the table above ("Fixed Interest Rate Agreement"). The MLA governs the terms of the Supplements. The MLA amends and restates the previous Master Loan Agreement between the Company and the Lender, dated June 19, 2017 and extends the principal repayment to July 1, 2026. Debt financing costs related to the MLA agreement were immaterial.

12. Long-Term Debt (continued)

In June 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 were subject to a prepayment restriction period for a portion of the fixed rate term that expired on January 1, 2021. The Company may prepay any amounts without penalty.

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. As of October 31, 2021, the Company's outstanding borrowings under the revolving and non-revolving lines of credit were $111,293,000 and it had $18,707,000 of availability. For amounts outstanding under both Supplements, interest will begin to be charged on the date the Lender disburses principal and will continue until the outstanding indebtedness under the Supplements is paid in full with interest.

The initial interest rate in effect under the Revolving Credit Supplement was 1.69% per annum, and was automatically adjusted commencing July 1, 2021 and on the first day of each month thereafter. The interest rate for any amount outstanding under the Revolving Credit Supplement will be based on the one-month LIBOR rate plus or minus an applicable margin. The applicable margin will range from 1.75% to 2.35% depending on the ratio of current assets, plus the remaining available commitment divided by current liabilities. On July 1, 2022, and on each one-year anniversary thereafter, the Company has the option to convert the interest rate in use under the Revolving Credit Supplement from the preceding LIBOR-based calculation to a variable interest rate. Any amounts outstanding under the Revolving Credit Supplement will be due and payable in full on July 1, 2026. The Company may prepay any amounts outstanding under the Revolving Credit Supplement without penalty.

The initial interest rate in effect under the Non-Revolving Credit Supplement is a fixed interest rate of 4.77% through July 1, 2022 and then will convert to a fixed interest rate of 3.57% per year until July 1, 2025 (the “Fixed Rate Term”). Thereafter, the interest rate will convert to a variable interest rate established by the Lender corresponding to the corresponding interest rate group. Any amount outstanding under the Non-Revolving Credit Supplement is due and payable in full on July 1, 2026. The Company may not prepay any amounts under the outstanding Non-Revolving Credit Supplement during the Fixed Rate Term. Thereafter, the Company may prepay any amounts outstanding under the Non-Revolving Credit Supplement, provided that a fee equal to 0.50% of the amount prepaid and any other cost or loss suffered by the Lender must be paid with any prepayment.

All indebtedness under the MLA and RELOC, including any indebtedness under the Supplements, is secured by a first lien on Company-owned stock or participation certificates, Company funds maintained with Lender, Lender’s unallocated surplus, and certain of the Company’s agricultural properties in Tulare and Ventura counties in California and certain of the Company’s building fixtures and improvements and investments in mutual water companies associated with the pledged agricultural properties. The MLA includes customary default provisions that provide should an event of default occur, the Lender, at its option, may declare all or any portion of the indebtedness under the MLA to be immediately due and payable without demand, notice of nonpayment, 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.

The MLA 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 financial covenant that requires it to maintain compliance with a specified debt service coverage ratio on an annual basis. In December 2021, the Lender modified the covenant to defer measurement at October 31, 2021 and revert to a debt service coverage ratio of 1.25:1.0 measured as of October 31, 2022.

The Company received annual cash patronage dividends from Farm Credit West of $1,170,000, $1,566,000 and $853,000 in fiscal years 2021, 2020 and 2019, respectively.

In August 2021, PDA and San Pablo entered into term loan agreements for an aggregate amount of approximately $652,000. 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 August 2025 and September 2026, bear interest at fixed rates of 3.48% and 4.26%, respectively, and are payable in monthly installments beginning September 2021.

12. Long-Term Debt (continued)

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 2024 and September 2024, bear interest at fixed rates of 3.48% and are payable in monthly installments beginning February 2021 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 $1,110,000, $921,000 and $1,369,000 during the fiscal years ended 2021, 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 $131,000 and $176,000, net of amortization at October 31, 2021 and 2020, 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):


2022	$	2,472
2023	3,385
2024	1,815
2025	2,092
2026	112,749
Thereafter	10,443
	$	132,956

Leases

12 Months Ended

Oct. 31, 2021

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 21 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 October 31 (in thousands):


	2021		2020
Land	$	3,516	$	3,522
Buildings, equipment and building improvements	18,712		18,516
Less: accumulated depreciation	(6,331)		(5,691)
Property, plant and equipment, net under operating leases	$	15,897	$	16,347

Depreciation expense for assets under operating leases was approximately $669,000 and $664,000 for the fiscal years 2021 and 2020, respectively.

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


	Year ended October 31,
	2021		2020
Operating lease revenue	$	4,329	$	4,287
Variable lease revenue	317		335
Total lease revenue	$	4,646	$	4,622

13. Leases (continued)

Lessor Arrangements (continued)

The future minimum lease payments to be received by the Company related to these operating lease agreements as of October 31, 2021 are as follows (in thousands):


2022	$	1,274
2023	1,100
2024	822
2025	823
2026	167
Thereafter	675
Total	$	4,861

The Company’s rental operations revenue included contingent rental revenue of $355,000 for fiscal year 2019.

Lessee Arrangements

The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are classified as either operating or finance leases. The Company’s lease contracts are generally for agricultural land and packinghouse equipment with remaining lease terms ranging from one to 16 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.

Operating lease costs were $606,000 and $559,000 and variable lease costs were $288,000 and immaterial, for the fiscal years 2021 and 2020, respectively, which are primarily included in agribusiness costs and expenses in the Company’s consolidated statements of operations. Finance lease costs and short term lease costs were immaterial for both years.

Supplemental balance sheet information related to leases consists of the following as of October 31 (in thousands):


	Classification	2021			2020
Assets
Operating lease ROU assets	Other assets	$	2,041		$	2,053
Finance lease assets	Other assets	1,142			—
		$	3,183		$	2,053

Liabilities
Current operating lease liabilities	Accrued liabilities and payables to related parties	$	488		$	521
Current finance lease liabilities	Accrued liabilities	249			—
Non-current operating lease liabilities	Other long-term liabilities	1,648			1,610
Non-current finance lease liabilities	Other long-term liabilities	884			—
Total operating lease liabilities		$	3,269		$	2,131

Weighted-average remaining lease term (in years)
Operating leases		10.9			11.0
Finance leases		4.9			—
Weighted-average discount rate
Operating leases		3.7		%	3.8		%
Finance leases		3.3		%	—

13. Leases (continued)

Lessee Arrangements (continued)

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


	Year ended October 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	603	$	559
Operating cash outflows from finance leases	$	3	$	—
Financing cash outflows from finance leases	$	18	$	—
ROU assets obtained in exchange for new operating lease liabilities	$	271	$	108
Leased assets obtained in exchange for new finance lease liabilities	$	1,151	$	—

Future minimum lease payments under non-cancellable leases for each of the subsequent five fiscal years and thereafter are as follows (in thousands), which excludes $448,000 of operating lease payments for leases that have been signed but not commenced:


	Operating		Finance		Total
2022	$	488	$	249	$	737
2023	312		249		561
2024	281		249		530
2025	210		249		459
2026	134		229		363
Thereafter	1,192		—		1,192
Total lease payments	2,617		1,225		3,842
Less: Imputed interest	(481)		(92)		(573)
Present value of lease liabilities	$	2,136	$	1,133	$	3,269

In addition to operating and finance 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 and $51,000 in fiscal years 2022 and 2023, respectively.

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

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 October 31 (in thousands):


	2021		2020
Land	$	3,516	$	3,522
Buildings, equipment and building improvements	18,712		18,516
Less: accumulated depreciation	(6,331)		(5,691)
Property, plant and equipment, net under operating leases	$	15,897	$	16,347

Depreciation expense for assets under operating leases was approximately $669,000 and $664,000 for the fiscal years 2021 and 2020, respectively.

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


	Year ended October 31,
	2021		2020
Operating lease revenue	$	4,329	$	4,287
Variable lease revenue	317		335
Total lease revenue	$	4,646	$	4,622

13. Leases (continued)

Lessor Arrangements (continued)

The future minimum lease payments to be received by the Company related to these operating lease agreements as of October 31, 2021 are as follows (in thousands):


2022	$	1,274
2023	1,100
2024	822
2025	823
2026	167
Thereafter	675
Total	$	4,861

The Company’s rental operations revenue included contingent rental revenue of $355,000 for fiscal year 2019.

Lessee Arrangements

Supplemental balance sheet information related to leases consists of the following as of October 31 (in thousands):


	Classification	2021			2020
Assets
Operating lease ROU assets	Other assets	$	2,041		$	2,053
Finance lease assets	Other assets	1,142			—
		$	3,183		$	2,053

Liabilities
Current operating lease liabilities	Accrued liabilities and payables to related parties	$	488		$	521
Current finance lease liabilities	Accrued liabilities	249			—
Non-current operating lease liabilities	Other long-term liabilities	1,648			1,610
Non-current finance lease liabilities	Other long-term liabilities	884			—
Total operating lease liabilities		$	3,269		$	2,131

Weighted-average remaining lease term (in years)
Operating leases		10.9			11.0
Finance leases		4.9			—
Weighted-average discount rate
Operating leases		3.7		%	3.8		%
Finance leases		3.3		%	—

13. Leases (continued)

Lessee Arrangements (continued)

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


	Year ended October 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	603	$	559
Operating cash outflows from finance leases	$	3	$	—
Financing cash outflows from finance leases	$	18	$	—
ROU assets obtained in exchange for new operating lease liabilities	$	271	$	108
Leased assets obtained in exchange for new finance lease liabilities	$	1,151	$	—


	Operating		Finance		Total
2022	$	488	$	249	$	737
2023	312		249		561
2024	281		249		530
2025	210		249		459
2026	134		229		363
Thereafter	1,192		—		1,192
Total lease payments	2,617		1,225		3,842
Less: Imputed interest	(481)		(92)		(573)
Present value of lease liabilities	$	2,136	$	1,133	$	3,269

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

Earnings Per Share

12 Months Ended

Oct. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per ShareBasic net loss 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 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, 2021, 2020 and 2019. The computations for basic and diluted net loss per common share are as follows (in thousands, except per share amounts):

14. Earnings Per Share (continued)


	Year ended October 31,
	2021		2020		2019
Basic net loss per common share:
Net loss applicable to common stock	$	(3,942)	$	(16,936)	$	(6,444)
Effect of unvested, restricted stock	(35)		(44)		(51)
Numerator: Net loss for basic EPS	(3,977)		(16,980)		(6,495)
Denominator: Weighted average common shares-basic	17,555		17,666		17,580
Basic net loss per common share	$	(0.23)	$	(0.96)	$	(0.37)

Diluted net loss per common share:
Numerator: Net loss for diluted EPS	$	(3,977)	$	(16,980)	$	(6,495)
Weighted average common shares-basic	17,555		17,666		17,580
Effect of dilutive unvested, restricted stock and preferred stock	—		—		—
Denominator: Weighted average common shares-diluted	17,555		17,666		17,580
Diluted net loss per common share	$	(0.23)	$	(0.96)	$	(0.37)

Diluted net loss per common share is calculated 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 117,000, 164,000 and 119,000, unvested, restricted shares, as calculated under the treasury stock method, from its computation of diluted losses per share for the fiscal years ended October 31, 2021, 2020 and 2019, respectively.

Related-Party Transactions

12 Months Ended

Oct. 31, 2021

Related-Party Transactions

The Company has transactions with equity method investments and various related-parties summarized in Note 8 - Equity in Investments and in the tables below (in thousands):


		October 31, 2021								October 31, 2020
		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		Payables to Related Parties		Other Long-Term Liabilities

2	Mutual water companies	$	—	$	432	$	40	$	—	$	—	$	64	$	64	$	—
3	Cooperative association	$	—	$	—	$	19	$	—	$	—	$	—	$	123	$	—

5	Cadiz / Fenner / WAM	$	—	$	1,386	$	273	$	1,297	$	—	$	1,443	$	182	$	1,353
6	Colorado River Growers	$	—	$	—	$	—	$	—	$	81	$	—	$	—	$	—

8	FGF	$	4,598	$	980	$	832	$	—	$	2,213	$	—	$	604	$	—
9	LLCB	$	—	$	—	$	5,771	$	—	$	—	$	—	$	5,300	$	—

11	Third party growers	$	—	$	—	$	41	$	—	$	—	$	—	$	—	$	—

15. Related-Party Transactions (continued)


		Year Ended October 31, 2021						Year Ended October 31, 2020
		Consolidated Statement of Operations								Consolidated Statement of Operations
Ref	Related-Party	Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Dividends Paid			Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
1	Employees	$	—	$	814	$	—	$	—		$	—	$	785	$	—	$	—	$	—
2	Mutual water companies	$	—	$	—	$	1,160	$	—		$	—	$	—	$	894	$	—	$	—
3	Cooperative association	$	—	$	—	$	1,750	$	—		$	—	$	—	$	1,849	$	—	$	—
4	Calavo	$	6,594	$	320	$	721	$	503		$	8,806	$	330	$	1,223	$	220	$	503
5	Cadiz / Fenner / WAM	$	—	$	—	$	338	$	—		$	—	$	—	$	240	$	—	$	—
6	Colorado River Growers	$	157	$	—	$	2,772	$	—		$	603	$	—	$	6,613	$	—	$	—
7	YMIDD	$	—	$	—	$	123	$	—		$	—	$	—	$	139	$	—	$	—
8	FGF	$	4,129	$	—	$	2,884	$	—		$	10,338	$	—	$	13,478	$	—	$	—
10	Freska	$	128	$	—	$	150	$	—		$	—	$	—	$	—	$	—	$	—
11	Third party growers	$	—	$	—	$	147	$	—		$	—	$	—	$	—	$	—	$	—


		Year Ended October 31, 2019
		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	$	—	$	744	$	—	$	—	$	—
2	Mutual water companies	$	—	$	—	$	838	$	—	$	—
3	Cooperative association	$	—	$	—	$	1,687	$	—	$	—
4	Calavo	$	3,080	$	400	$	1,096	$	250	$	506
5	Cadiz / Fenner / WAM	$	—	$	—	$	186	$	—	$	—
6	Colorado River Growers	$	306	$	—	$	5,476	$	—	$	—
7	YMIDD	$	—	$	—	$	150	$	—	$	—
8	FGF	$	14,471	$	—	$	10,300	$	—	$	—

11	Third party growers	$	—	$	—	$	10	$	—	$	—

(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, 2021 and 2020.

(2) Mutual water companies - The Company has representation on the boards of directors of the mutual water companies in which the Company has investments, refer to Note 10 - Other Assets. The Company recorded capital contributions, purchased water and water delivery services and had water payments due to the mutual water companies.

(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 the Company. 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 and purchases storage services from Calavo.

(5) 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.

15. Related-Party Transactions (continued)

(6) Colorado River Growers, Inc. (“CRG”) - The Company had 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. CRG was dissolved in August 2021. The Company paid harvest expense to CRG and provided harvest management and administrative services to CRG.

(7) 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.

(8) FGF - The Company advances funds to FGF for fruit purchases, which are recorded as an asset until the sales occur and the remaining proceeds become due to FGF. Additionally, FGF provided farming, packing, by-product processing and administrative services to Trapani Fresh. The Company had a receivable from FGF for lemon sales and the sale of packing supplies and a payable due to FGF for fruit purchases and services. Effective March 1, 2021, Trapani Fresh sells the lemons it grows to FGF, who packs, markets, and sells the fruit to its customers. The Company also records revenue related to the licensing of intangible assets to FGF.

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

(10) Freska - A member of the Company's board of directors is a majority shareholder of Freska Produce International, LLC ("Freska"). The Company had avocado sales to Freska.

(11) Third party growers - A member of the Company’s board of directors markets lemons through the Company and the Company had payments due to the member of such lemon procurement.

Income Taxes

12 Months Ended

Oct. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

A reconciliation of income before income taxes for domestic and foreign locations for the years ended October 31, 2021, 2020 and 2019 are as follows (in thousands):


	2021		2020		2019
United States	$	(1,459)	$	(23,195)	$	(6,285)
Foreign	(2,704)		(3,240)		(278)
Income before income taxes	$	(4,163)	$	(26,435)	$	(6,563)

The components of the provisions for income taxes for fiscal years 2021, 2020 and 2019 are as follows (in thousands):


	2021		2020		2019
Current:
Federal	$	37	$	5,835	$	(7)
State	40		332		563
Foreign	—		194		(232)
Total current benefit (provision)	77		6,361		324

Deferred:
Federal	(17)		640		998
State	127		1,177		(302)
Foreign	79		316		77
Total deferred benefit	189		2,133		773
Total income tax benefit	$	266	$	8,494	$	1,097

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, 2021 and 2020 are as follows (in thousands):

16. Income Taxes (continued)


	2021		2020
Deferred income tax assets:
Reserve and other accruals	$	646	$	643

Net operating losses	6,312		4,983


Right-of-use asset	531		578
Minimum pension liability adjustment	231		962
Amortization	—		325
Other assets	240		—
Interest expense limitation	2		306
Stock based compensation	493		549
Total deferred income tax assets	8,455		8,346
Valuation allowance	(1,324)		(540)
Total net deferred income tax assets	7,131		7,806

Deferred income tax liabilities:
Property taxes	(161)		(173)
Depreciation	(18,665)		(16,930)
Amortization	(242)		—
Land and other indefinite life assets	(6,581)		(6,905)
Investment in joint ventures and other basis adjustments	(3,510)		(4,097)

Right-of-use asset	(510)		(557)

Prepaids and receivables	(260)		—
Other	(55)		(1,241)
Total deferred income tax liabilities	(29,984)		(29,903)
Net deferred income tax liabilities	$	(22,853)	$	(22,097)

Deferred income taxes — noncurrent assets	$	—	$	333
Deferred income taxes — noncurrent liabilities	$	(22,853)	$	(22,430)

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 $1,324,000 on the net deferred tax assets of its subsidiaries in Argentina and Chile as of October 31, 2021 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, 2021, the Company has recorded a deferred tax asset of $6,312,000 related to its federal, state, and foreign net operating loss 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

17,443

Indefinite

State

21,277

10/31/2039

Chile

2,248

Indefinite

Holland

10/31/2025

Argentina

2,390

10/31/2025

16. Income Taxes (continued)

At October 31, 2021, the Company had disallowed federal and state interest expense carryforwards of approximately zero and $2,065,000, 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.


	2021				2020				2019
	Amount		%		Amount		%		Amount		%
Provision at statutory rates	$	874	(21.0)	%	$	5,551	(21.0)	%	$	1,351	(21.0)	%
State income tax, net of federal benefit	224		(5.4)	%	1,431		(5.4)	%	316		(4.9)	%
Dividend exclusion	—		—		27		(0.1)	%	28		(0.4)	%
Meals and entertainment	—		—		(18)		0.1	%	(90)		1.4	%
Transaction costs	—		—		—		—		(137)		2.1	%

Shared-based compensation	(217)		5.2	%	—		—		—		—
Executive compensation	(45)		1.1	%	—		—	%	—		—	%
Tax law change	57		(1.4)	%	1,948		(7.4)	%	—		—
State rate adjustment	(78)		1.9	%	(82)		0.3	%	(109)		1.7	%
Valuation allowance	(831)		20.0	%	(168)		0.6	%	(393)		6.1	%
Foreign rate differential	130		(3.1)	%	—		—		—		—

Noncontrolling interest	(83)		2.0	%	(305)		1.1	%	116		(1.8)	%
Other permanent items	235		(5.7)	%	110		(0.4)	%	15		(0.3)	%
Total income tax benefit	$	266	(6.4)	%	$	8,494	(32.2)	%	$	1,097	(17.1)	%

At October 31, 2021 and 2020, 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, 2021.

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 recorded a tax benefit of $1,948,000 and an income tax refund of $5,801,000 due to its ability to carryback and obtain federal tax refund by utilizing net operating losses under the provisions of the CARES Act at October 31, 2021, of which $841,000 and $4,960,000 were received in October 2020 and December 2020, respectively. An additional $948,000 of California state refunds were received in the third quarter of fiscal year 2021.

- 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

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+ Details

Retirement Plans

12 Months Ended

Oct. 31, 2021

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. In fiscal year 2021, the Company decided to terminate the Plan effective December 31, 2021. The liabilities disclosed as of October 31, 2021, reflect an estimate of the additional cost to pay lump sums to a portion of the active and vested terminated participants and purchase annuities for all remaining participants from an insurance company.

The Plan is funded consistent with the funding requirements of federal law and regulations. There were no funding contributions during fiscal years 2021 or 2020. Plan assets are invested in a group trust consisting primarily of pooled funds, mutual funds, short-term investment funds and cash.

17. Retirement Plans (continued)

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 Cash 1% and Fixed Income 99%.

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 2021 and 2020 were as follows (in thousands):


	2021		2020
Administrative expenses	$	277	$	278
Interest cost	550		641
Expected return on plan assets	(867)		(990)
Prior service cost	45		45
Amortization of net loss	737		739
Net periodic benefit cost	$	742	$	713

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


	2021		2020
Change in benefit obligation:
Benefit obligation at beginning of year	$	22,898	$	22,267
Administrative expenses	277		278
Interest cost	550		641
Benefits paid	(1,450)		(1,524)
Actuarial (gain) loss	(858)		1,236
Benefit obligation at end of year	$	21,417	$	22,898

Change in plan assets:
Fair value of plan assets at beginning of year	$	19,352	$	19,229
Actual return on plan assets	2,668		1,647

Benefits paid	(1,450)		(1,524)
Fair value of plan assets at end of year	$	20,570	$	19,352

Reconciliation of funded status:
Fair value of plan assets	$	20,570	$	19,352
Benefit obligations	21,417		22,898
Net plan obligations	$	(847)	$	(3,546)

Amounts recognized in statements of financial position:


Noncurrent liabilities	$	(847)	$	(3,546)
Net obligation recognized in statements of financial position	$	(847)	$	(3,546)

Reconciliation of amounts recognized in statements of financial position:
Prior service cost	$	(99)	$	(144)
Net loss	(2,766)		(6,162)
Accumulated other comprehensive loss	(2,865)		(6,306)
Accumulated contributions in excess of net periodic benefit cost	2,018		2,760
Net deficit recognized in statements of financial position	$	(847)	$	(3,546)

17. Retirement Plans (continued)

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


	2021		2020
Changes recognized in other comprehensive income:
Net (gain) loss arising during the year	$	(2,658)	$	579
Amortization of prior service cost	(45)		(45)
Amortization of net loss	(737)		(739)
Total recognized in other comprehensive income	$	(3,440)	$	(205)

Total recognized in net periodic benefit and other comprehensive income	$	(2,699)	$	508

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


	2021			2020
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.58		%	2.50		%

Assumptions used to determine net periodic benefit cost:
Discount rate	2.50		%	3.00		%
Expected return on plan assets	5.05		%	5.66		%

Additional year-end information:
Projected benefit obligation	$	21,417		$	22,898
Accumulated benefit obligation	$	21,417		$	22,898
Fair value of plan assets	$	20,570		$	19,352

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


2022	$	1,120
2023	20,835
2024 - 2026	—


Next five years	—
	$	21,955

The following table sets forth the Plan’s assets as of October 31, 2021, 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	$	250	$	—	$	—	$	250

Pooled funds	—		20,320		—		20,320
	$	250	$	20,320	$	—	$	20,570

The Company has a 401(k) plan in which an employee can participate 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 a matching contribution on these deferrals up to 4% of the employee’s annual earnings. Participants vest in any matching contribution at a rate of 20% per year beginning after one year of employment. During fiscal years 2021, 2020 and 2019, the Company contributed to the plan and recognized expenses of $546,000, $1,107,000 and $927,000, respectively.

- Definition

The entire disclosure for retirement benefits.

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-Subparagraph (l)
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+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Oct. 31, 2021
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, 2021
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 30, 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. During fiscal years 2015 thru 2017, a total of 15,210 shares of Series B preferred stock were converted into 190,124 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 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 be trading or (b) $15.00 per share of common stock. Shares of 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. 19. Series B and Series B-2 Preferred Stock (continued) Series B-2 Convertible Preferred Stock 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. 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, 2021

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 156,036 remaining shares available to be issued as of October 31, 2021.

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 2021, 2020 and 2019, there were no Performance Awards of restricted stock granted for fiscal year 2021, 2020 or 2019 performance because the financial performance and other criteria were not met.

20. Stockholders’ Equity (continued)

Stock-based compensation

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 2021, subsequent to fiscal year 2021, the Company granted 70,000 shares of common stock with a per share price of $14.96 to key executives under the Stock Plan. The related compensation expense of approximately $1,047,000 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 2021, 2020 and 2019, and the weighted average grant price is as follows:


	Year Ended October 31,
	2021			2020			2019
	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
Executive Awards	95,000	$	15.26	95,000	$	18.87	90,000	$	19.84
Director Awards	30,663	$	16.85	17,841	$	20.05	15,642	$	21.65
Total	125,663	$	15.65	112,841	$	19.06	145,737	$	19.73

The Company recognized $2,582,000, $2,044,000 and $1,791,000 of stock-based compensation in fiscal years 2021, 2020 and 2019, 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 $476,000, $400,000 and $324,000 for fiscal years 2021, 2020 and 2019, respectively. The total fair value of shares vested during the years ended October 31, 2021, 2020 and 2019 was $2,951,000, $2,365,000 and $1,788,000 respectively. The Company has unrecognized stock-based compensation expense of $1,963,000 as of October 31, 2021, which is expected to be recognized over the next two years as the shares vest. All unvested shares are expected to vest.

During fiscal years 2021, 2020 and 2019, respectively, members of management exchanged 46,993, 11,314 and 36,627 shares of common stock with fair values of $701,000, $213,000 and $606,000, 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.

A summary of the status of the Company’s nonvested shares as of October 31, 2021, and changes during the year ended October 31, 2021, is presented below:


	Number of Shares	Weighted-Average Grant Price
Nonvested at October 31, 2020	148,460	$	19.85
Granted	125,663	$	15.65
Vested	(161,123)	$	18.31

Nonvested at October 31, 2021	113,000	$	17.38

Treasury Stock

Share Repurchase Program

In fiscal year 2021, the Company's Board of Directors approved a share repurchase program authorizing it to repurchase up to $10,000,000 of its outstanding shares of common stock through September 2022; no shares have been repurchased under this program. In fiscal year 2020, the Company repurchased 250,977 shares for $3,493,000 under a program which expired in March 2021.

20. Stockholders’ Equity (continued)

Dividend

On December 14, 2021, the Company declared a $0.075 per share dividend payable on January 14, 2022, in the aggregate amount of $1,328,000 to common shareholders of record as of December 27, 2021.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Fruit Growers Supply Cooperative	12 Months Ended
Fruit Growers Supply Cooperative	Oct. 31, 2021
Fruit Growers Supply Cooperative [Abstract]
Fruit Growers Supply Cooperative	Fruit Growers Supply CooperativeThe Company is a member of Fruit Growers Supply (“FGS”), a cooperative supply corporation. FGS is the manufacturing and supply affiliate of Sunkist and allocates after-tax earnings derived from non-member business to members. The Company records allocations disbursed by FGS as reductions of agribusiness expenses. The Company had been allocated $729,000, of which the Company received dividends of $216,000, $513,000 and zero in fiscal years 2021, 2020 and 2019, respectively, and there are no remaining allocations outstanding as of October 31, 2021.

Segment Information

12 Months Ended

Oct. 31, 2021

Segment Reporting [Abstract]

Segment Information

The Company operates in four reportable operating segments: fresh lemons, lemon packing, avocados and other agribusiness. 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 and supplier 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 operating segments, as these specified amounts are not included in the measure of segment profit or loss reviewed by the Company’s chief operating decision maker. The Company measures operating performance, including revenues and operating income, of its operating segments and allocates resources based on its evaluation. The Company does not allocate selling, general and administrative expense, total other income (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 and suppliers. Intersegment revenues represent packing revenues related to lemons grown on the Company’s orchards.

Segment information for fiscal year 2021 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	125,448	$	17,514	$	—	$	6,784	$	11,635	$	161,381	$	4,646	$	166,027
Intersegment revenue	—		25,637		(25,637)		—		—		—		—		—
Total net revenues	125,448		43,151		(25,637)		6,784		11,635		161,381		4,646		166,027
Costs and expenses	116,117		36,018		(25,637)		4,211		9,157		139,866		22,682		162,548
Depreciation and amortization	—		—		—		—		—		8,626		1,186		9,812
Operating income (loss)	$	9,331	$	7,133	$	—	$	2,573	$	2,478	$	12,889	$	(19,222)	$	(6,333)

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)

22. Segment Information (continued)

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)

The following is a detail of other agribusiness revenues for fiscal years 2021, 2020 and 2019 (in thousands):


	Year Ended October 31,
	2021		2020		2019





Oranges	$	4,382	$	7,722	$	6,022
Specialty citrus and other crops	7,253		5,846		5,165
Other agribusiness revenues	$	11,635	$	13,568	$	11,187

- 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.

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+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Oct. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated events subsequent to October 31, 2021 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, 2021

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 and Geographic Information

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

2. Summary of Significant Accounting Policies (continued)

Property, Plant and Equipment (continued)

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

Business Combination and Asset Acquisitions

Business Combination and Asset Acquisition

Comprehensive Loss

Foreign Currency

Foreign CurrencySan 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 income (loss).

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)

Advertising Expense

Advertising ExpenseAdvertising costs are expensed as incurred.

Leases

Basic and Diluted Net Loss per Share

Defined Benefit Retirement Plan

Recent Accounting Pronouncements

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

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Oct. 31, 2021

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 income (loss) by component (in thousands):


	2021						2020						2019
	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	$	(685)	$	—	$	(685)	$	(707)	$	—	$	(707)	$	(1,103)	$	—	$	(1,103)
Minimum pension liability adjustments:
Other comprehensive gain (loss) before reclassifications	3,440		(940)		2,500		205		69		274		(859)		252		(607)

Available-for-sale securities:

Amounts reclassified to earnings included in "Selling, general and administrative"	—		—		—		—		140		140		—		—		—



Other comprehensive income (loss)	$	2,755	$	(940)	$	1,815	$	(502)	$	209	$	(293)	$	(1,962)	$	252	$	(1,710)

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

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


	Foreign Currency Translation Loss		Defined Benefit Pension Plan		Available-for-Sale Securities		Other		Accumulated Other Comprehensive Income (Loss)
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	(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)
Other comprehensive (loss) income	(685)		2,500		—		—		1,815
Balance as of October 31, 2021	$	(3,754)	$	(1,979)	$	—	$	—	$	(5,733)

Acquisitions (Tables)

12 Months Ended

Oct. 31, 2021

Business Combination and Asset Acquisition [Abstract]

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

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Oct. 31, 2021

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):


	2021		2020
Prepaid supplies and insurance	$	2,521	$	2,080
Note receivable and related interest	2,438		2,490
Real estate development held for sale	2,543		2,543

Sales tax receivable	909		1,867
Lemon supplier advances and other	2,298		1,708
	$	10,709	$	10,688

Property, Plant and Equipment (Tables)

12 Months Ended

Oct. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

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


	2021		2020
Land	$	95,868	$	96,334
Land improvements	35,440		33,733
Buildings and building improvements	48,565		48,441
Equipment	62,598		60,124
Orchards	63,454		61,098
Construction in progress	22,477		20,469
	328,402		320,199
Less accumulated depreciation	(85,982)		(77,550)
	$	242,420	$	242,649

Real Estate Development (Tables)

12 Months Ended

Oct. 31, 2021

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):


	2021		2020
East Area I - Retained property	$	13,335	$	13,169
East Area II	9,493		8,467
	$	22,828	$	21,636

Equity in Investments (Tables)

12 Months Ended

Oct. 31, 2021

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 2021, 2020 and 2019 (in thousands):


2021	Del Mar		Romney		Rosales		LLCB
Current assets	$	492	$	—	$	3,544	$	108,964
Non-current assets	$	865	$	617	$	2,406	$	—
Current liabilities	$	—	$	—	$	2,362	$	4,708
Non-current liabilities	$	—	$	—	$	2,083	$	—
Revenues	$	2,059	$	17	$	9,862	$	42,853
Operating income (loss)	$	1,052	$	(4)	$	438	$	9,087
Net income (loss)	$	1,052	$	(4)	$	35	$	9,087
2020
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
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

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, 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
Equity earnings (losses)	296		(3)		(164)		3,074		3,203
Cash distributions	(219)		—		(106)		—		(325)

Foreign currency adjustments	—		—		(20)		—		(20)
Investment balance October 31, 2021	$	1,997	$	508	$	1,351	$	60,216	$	64,072

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Oct. 31, 2021

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 Carrying Amount
Balance at October 31, 2019	$	1,839
Trapani Fresh purchase price adjustment	(297)
Foreign currency translation adjustment	(7)
Balance at October 31, 2020	1,535
Foreign currency translation adjustment	(8)
Balance at October 31, 2021	$	1,527

Indefinite-Lived Intangible Assets

Intangible assets consisted of the following as of October 31, 2021 and 2020 (in thousands):


	October 31, 2021							October 31, 2020
	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	$	2,108	$	(663)	$	1,445	8	$	3,771	$	(947)	$	2,824	10
Customer relationships	4,037		(1,209)		2,828		9	5,010		(989)		4,021		9
Non-competition agreement	437		(22)		415		8	1,040		(147)		893		10
Acquired water and mineral rights	3,641		—		3,641		Indefinite	$	3,571	$	—	$	3,571	Indefinite
Intangible assets	$	10,223	$	(1,894)	$	8,329		$	13,392	$	(2,083)	$	11,309

Finite-Lived Intangible Assets

Intangible assets consisted of the following as of October 31, 2021 and 2020 (in thousands):


	October 31, 2021							October 31, 2020
	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	$	2,108	$	(663)	$	1,445	8	$	3,771	$	(947)	$	2,824	10
Customer relationships	4,037		(1,209)		2,828		9	5,010		(989)		4,021		9
Non-competition agreement	437		(22)		415		8	1,040		(147)		893		10
Acquired water and mineral rights	3,641		—		3,641		Indefinite	$	3,571	$	—	$	3,571	Indefinite
Intangible assets	$	10,223	$	(1,894)	$	8,329		$	13,392	$	(2,083)	$	11,309

Estimated Future Amortization Expense of Intangible Assets

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


2022	$	724
2023	724
2024	716
2025	711
2026	711
Thereafter	1,102
	$	4,688

Accrued Liabilities (Tables)

12 Months Ended

Oct. 31, 2021

Accounts Payable and Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

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


	2021		2020
Compensation	$	2,112	$	2,275
Property taxes	676		683
Lemon and orange supplier payables	—		1,346
Operating expenses	1,203		938
Leases	604		959
Other	1,947		1,746
	$	6,542	$	7,947

Long-Term Debt (Tables)

12 Months Ended

Oct. 31, 2021

Debt Disclosure [Abstract]

Composition of Long-Term Debt

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


	2021		2020
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 0.09% at October 31, 2021, plus 1.85%. The interest rate for the $40.0 million outstanding balance of the non-revolving line of credit was fixed at 4.77% through July 1, 2022, 3.57% through July 1, 2025 and variable interest thereafter. Interest is payable monthly and the principal is due in full on July 1, 2026.	$	111,293	$	102,251

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.	809		1,438

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.	974		1,029

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.	8,004		8,433

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.	5,892		6,220

Wells Fargo term loan: The loan was repaid in August 2021 with proceeds from the Farm Credit West term loan.	—		3,491

Farm Credit West term loan: Effective August 2, 2021, the interest rate was fixed at 3.19%. The loan is payable in monthly installments through September 2026.	2,475		—

Banco de Chile term loan: The interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	1,011		1,205

Note Payable: The interest rate ranges from 5.00% to 7.00% and was 6.50% at October 31, 2021. 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.	411		522

Banco de Chile COVID-19 loans: The interest rates are fixed at 3.48% and 4.26%. The loans are payable in monthly installments beginning September 2021 through September 2026.	652		—
Subtotal	132,956		126,024
Less deferred financing costs, net of accumulated amortization	131		176
Total long-term debt, net	132,825		125,848
Less current portion	2,472		3,277
Long-term debt, less current portion	$	130,353	$	122,571

Principal Payments on Long-Term Debt

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


2022	$	2,472
2023	3,385
2024	1,815
2025	2,092
2026	112,749
Thereafter	10,443
	$	132,956

- 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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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

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+ Details

Leases (Tables)

12 Months Ended

Oct. 31, 2021

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 October 31 (in thousands):


	2021		2020
Land	$	3,516	$	3,522
Buildings, equipment and building improvements	18,712		18,516
Less: accumulated depreciation	(6,331)		(5,691)
Property, plant and equipment, net under operating leases	$	15,897	$	16,347

Composition of Rental Operations Revenue

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


	Year ended October 31,
	2021		2020
Operating lease revenue	$	4,329	$	4,287
Variable lease revenue	317		335
Total lease revenue	$	4,646	$	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, 2021 are as follows (in thousands):


2022	$	1,274
2023	1,100
2024	822
2025	823
2026	167
Thereafter	675
Total	$	4,861

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases consists of the following as of October 31 (in thousands):


	Classification	2021			2020
Assets
Operating lease ROU assets	Other assets	$	2,041		$	2,053
Finance lease assets	Other assets	1,142			—
		$	3,183		$	2,053

Liabilities
Current operating lease liabilities	Accrued liabilities and payables to related parties	$	488		$	521
Current finance lease liabilities	Accrued liabilities	249			—
Non-current operating lease liabilities	Other long-term liabilities	1,648			1,610
Non-current finance lease liabilities	Other long-term liabilities	884			—
Total operating lease liabilities		$	3,269		$	2,131

Weighted-average remaining lease term (in years)
Operating leases		10.9			11.0
Finance leases		4.9			—
Weighted-average discount rate
Operating leases		3.7		%	3.8		%
Finance leases		3.3		%	—

Supplemental Cash Flow Information Related to Leases

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


	Year ended October 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	603	$	559
Operating cash outflows from finance leases	$	3	$	—
Financing cash outflows from finance leases	$	18	$	—
ROU assets obtained in exchange for new operating lease liabilities	$	271	$	108
Leased assets obtained in exchange for new finance lease liabilities	$	1,151	$	—

Future Minimum Lease Payments under Non-Cancellable Leases


	Operating		Finance		Total
2022	$	488	$	249	$	737
2023	312		249		561
2024	281		249		530
2025	210		249		459
2026	134		229		363
Thereafter	1,192		—		1,192
Total lease payments	2,617		1,225		3,842
Less: Imputed interest	(481)		(92)		(573)
Present value of lease liabilities	$	2,136	$	1,133	$	3,269

Future Minimum Lease Payments under Non-Cancellable Leases


	Operating		Finance		Total
2022	$	488	$	249	$	737
2023	312		249		561
2024	281		249		530
2025	210		249		459
2026	134		229		363
Thereafter	1,192		—		1,192
Total lease payments	2,617		1,225		3,842
Less: Imputed interest	(481)		(92)		(573)
Present value of lease liabilities	$	2,136	$	1,133	$	3,269

Earnings Per Share (Tables)

12 Months Ended

Oct. 31, 2021

Earnings Per Share [Abstract]

Computations for Basic and Diluted Net Loss Per Common Share

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

14. Earnings Per Share (continued)


	Year ended October 31,
	2021		2020		2019
Basic net loss per common share:
Net loss applicable to common stock	$	(3,942)	$	(16,936)	$	(6,444)
Effect of unvested, restricted stock	(35)		(44)		(51)
Numerator: Net loss for basic EPS	(3,977)		(16,980)		(6,495)
Denominator: Weighted average common shares-basic	17,555		17,666		17,580
Basic net loss per common share	$	(0.23)	$	(0.96)	$	(0.37)

Diluted net loss per common share:
Numerator: Net loss for diluted EPS	$	(3,977)	$	(16,980)	$	(6,495)
Weighted average common shares-basic	17,555		17,666		17,580
Effect of dilutive unvested, restricted stock and preferred stock	—		—		—
Denominator: Weighted average common shares-diluted	17,555		17,666		17,580
Diluted net loss per common share	$	(0.23)	$	(0.96)	$	(0.37)

Related-Party Transactions (Tables)

12 Months Ended

Oct. 31, 2021

Summary of Transactions with Related-Parties

The Company has transactions with equity method investments and various related-parties summarized in Note 8 - Equity in Investments and in the tables below (in thousands):


		October 31, 2021								October 31, 2020
		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		Payables to Related Parties		Other Long-Term Liabilities

2	Mutual water companies	$	—	$	432	$	40	$	—	$	—	$	64	$	64	$	—
3	Cooperative association	$	—	$	—	$	19	$	—	$	—	$	—	$	123	$	—

5	Cadiz / Fenner / WAM	$	—	$	1,386	$	273	$	1,297	$	—	$	1,443	$	182	$	1,353
6	Colorado River Growers	$	—	$	—	$	—	$	—	$	81	$	—	$	—	$	—

8	FGF	$	4,598	$	980	$	832	$	—	$	2,213	$	—	$	604	$	—
9	LLCB	$	—	$	—	$	5,771	$	—	$	—	$	—	$	5,300	$	—

11	Third party growers	$	—	$	—	$	41	$	—	$	—	$	—	$	—	$	—

15. Related-Party Transactions (continued)


		Year Ended October 31, 2021						Year Ended October 31, 2020
		Consolidated Statement of Operations								Consolidated Statement of Operations
Ref	Related-Party	Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Dividends Paid			Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
1	Employees	$	—	$	814	$	—	$	—		$	—	$	785	$	—	$	—	$	—
2	Mutual water companies	$	—	$	—	$	1,160	$	—		$	—	$	—	$	894	$	—	$	—
3	Cooperative association	$	—	$	—	$	1,750	$	—		$	—	$	—	$	1,849	$	—	$	—
4	Calavo	$	6,594	$	320	$	721	$	503		$	8,806	$	330	$	1,223	$	220	$	503
5	Cadiz / Fenner / WAM	$	—	$	—	$	338	$	—		$	—	$	—	$	240	$	—	$	—
6	Colorado River Growers	$	157	$	—	$	2,772	$	—		$	603	$	—	$	6,613	$	—	$	—
7	YMIDD	$	—	$	—	$	123	$	—		$	—	$	—	$	139	$	—	$	—
8	FGF	$	4,129	$	—	$	2,884	$	—		$	10,338	$	—	$	13,478	$	—	$	—
10	Freska	$	128	$	—	$	150	$	—		$	—	$	—	$	—	$	—	$	—
11	Third party growers	$	—	$	—	$	147	$	—		$	—	$	—	$	—	$	—	$	—


		Year Ended October 31, 2019
		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	$	—	$	744	$	—	$	—	$	—
2	Mutual water companies	$	—	$	—	$	838	$	—	$	—
3	Cooperative association	$	—	$	—	$	1,687	$	—	$	—
4	Calavo	$	3,080	$	400	$	1,096	$	250	$	506
5	Cadiz / Fenner / WAM	$	—	$	—	$	186	$	—	$	—
6	Colorado River Growers	$	306	$	—	$	5,476	$	—	$	—
7	YMIDD	$	—	$	—	$	150	$	—	$	—
8	FGF	$	14,471	$	—	$	10,300	$	—	$	—

11	Third party growers	$	—	$	—	$	10	$	—	$	—

15. Related-Party Transactions (continued)

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

(10) Freska - A member of the Company's board of directors is a majority shareholder of Freska Produce International, LLC ("Freska"). The Company had avocado sales to Freska.

(11) Third party growers - A member of the Company’s board of directors markets lemons through the Company and the Company had payments due to the member of such lemon procurement.

Income Taxes (Tables)

12 Months Ended

Oct. 31, 2021

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, 2021, 2020 and 2019 are as follows (in thousands):


	2021		2020		2019
United States	$	(1,459)	$	(23,195)	$	(6,285)
Foreign	(2,704)		(3,240)		(278)
Income before income taxes	$	(4,163)	$	(26,435)	$	(6,563)

Components of the Provisions for Income Taxes

The components of the provisions for income taxes for fiscal years 2021, 2020 and 2019 are as follows (in thousands):


	2021		2020		2019
Current:
Federal	$	37	$	5,835	$	(7)
State	40		332		563
Foreign	—		194		(232)
Total current benefit (provision)	77		6,361		324

Deferred:
Federal	(17)		640		998
State	127		1,177		(302)
Foreign	79		316		77
Total deferred benefit	189		2,133		773
Total income tax benefit	$	266	$	8,494	$	1,097

Components of Deferred Income Tax Assets and Liabilities

The components of deferred income tax assets at October 31, 2021 and 2020 are as follows (in thousands):

16. Income Taxes (continued)


	2021		2020
Deferred income tax assets:
Reserve and other accruals	$	646	$	643

Net operating losses	6,312		4,983


Right-of-use asset	531		578
Minimum pension liability adjustment	231		962
Amortization	—		325
Other assets	240		—
Interest expense limitation	2		306
Stock based compensation	493		549
Total deferred income tax assets	8,455		8,346
Valuation allowance	(1,324)		(540)
Total net deferred income tax assets	7,131		7,806

Deferred income tax liabilities:
Property taxes	(161)		(173)
Depreciation	(18,665)		(16,930)
Amortization	(242)		—
Land and other indefinite life assets	(6,581)		(6,905)
Investment in joint ventures and other basis adjustments	(3,510)		(4,097)

Right-of-use asset	(510)		(557)

Prepaids and receivables	(260)		—
Other	(55)		(1,241)
Total deferred income tax liabilities	(29,984)		(29,903)
Net deferred income tax liabilities	$	(22,853)	$	(22,097)

Deferred income taxes — noncurrent assets	$	—	$	333
Deferred income taxes — noncurrent liabilities	$	(22,853)	$	(22,430)

Summary of Net Operating Loss Carryforwards

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

Jurisdiction

Gross Amount

Begin to Expire

Federal

17,443

Indefinite

State

21,277

10/31/2039

Chile

2,248

Indefinite

Holland

10/31/2025

Argentina

2,390

10/31/2025

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


	2021				2020				2019
	Amount		%		Amount		%		Amount		%
Provision at statutory rates	$	874	(21.0)	%	$	5,551	(21.0)	%	$	1,351	(21.0)	%
State income tax, net of federal benefit	224		(5.4)	%	1,431		(5.4)	%	316		(4.9)	%
Dividend exclusion	—		—		27		(0.1)	%	28		(0.4)	%
Meals and entertainment	—		—		(18)		0.1	%	(90)		1.4	%
Transaction costs	—		—		—		—		(137)		2.1	%

Shared-based compensation	(217)		5.2	%	—		—		—		—
Executive compensation	(45)		1.1	%	—		—	%	—		—	%
Tax law change	57		(1.4)	%	1,948		(7.4)	%	—		—
State rate adjustment	(78)		1.9	%	(82)		0.3	%	(109)		1.7	%
Valuation allowance	(831)		20.0	%	(168)		0.6	%	(393)		6.1	%
Foreign rate differential	130		(3.1)	%	—		—		—		—

Noncontrolling interest	(83)		2.0	%	(305)		1.1	%	116		(1.8)	%
Other permanent items	235		(5.7)	%	110		(0.4)	%	15		(0.3)	%
Total income tax benefit	$	266	(6.4)	%	$	8,494	(32.2)	%	$	1,097	(17.1)	%

Retirement Plans (Tables)

12 Months Ended

Oct. 31, 2021

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost for the Plan for fiscal years 2021 and 2020 were as follows (in thousands):


	2021		2020
Administrative expenses	$	277	$	278
Interest cost	550		641
Expected return on plan assets	(867)		(990)
Prior service cost	45		45
Amortization of net loss	737		739
Net periodic benefit cost	$	742	$	713

Summary of the Plan's Funded Status

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


	2021		2020
Change in benefit obligation:
Benefit obligation at beginning of year	$	22,898	$	22,267
Administrative expenses	277		278
Interest cost	550		641
Benefits paid	(1,450)		(1,524)
Actuarial (gain) loss	(858)		1,236
Benefit obligation at end of year	$	21,417	$	22,898

Change in plan assets:
Fair value of plan assets at beginning of year	$	19,352	$	19,229
Actual return on plan assets	2,668		1,647

Benefits paid	(1,450)		(1,524)
Fair value of plan assets at end of year	$	20,570	$	19,352

Reconciliation of funded status:
Fair value of plan assets	$	20,570	$	19,352
Benefit obligations	21,417		22,898
Net plan obligations	$	(847)	$	(3,546)

Amounts recognized in statements of financial position:


Noncurrent liabilities	$	(847)	$	(3,546)
Net obligation recognized in statements of financial position	$	(847)	$	(3,546)

Reconciliation of amounts recognized in statements of financial position:
Prior service cost	$	(99)	$	(144)
Net loss	(2,766)		(6,162)
Accumulated other comprehensive loss	(2,865)		(6,306)
Accumulated contributions in excess of net periodic benefit cost	2,018		2,760
Net deficit recognized in statements of financial position	$	(847)	$	(3,546)

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):


	2021		2020
Changes recognized in other comprehensive income:
Net (gain) loss arising during the year	$	(2,658)	$	579
Amortization of prior service cost	(45)		(45)
Amortization of net loss	(737)		(739)
Total recognized in other comprehensive income	$	(3,440)	$	(205)

Total recognized in net periodic benefit and other comprehensive income	$	(2,699)	$	508

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):


	2021			2020
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.58		%	2.50		%

Assumptions used to determine net periodic benefit cost:
Discount rate	2.50		%	3.00		%
Expected return on plan assets	5.05		%	5.66		%

Additional year-end information:
Projected benefit obligation	$	21,417		$	22,898
Accumulated benefit obligation	$	21,417		$	22,898
Fair value of plan assets	$	20,570		$	19,352

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):


2022	$	1,120
2023	20,835
2024 - 2026	—


Next five years	—
	$	21,955

Plan Assets Segregated by Fair Value Hierarchy Level

The following table sets forth the Plan’s assets as of October 31, 2021, 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	$	250	$	—	$	—	$	250

Pooled funds	—		20,320		—		20,320
	$	250	$	20,320	$	—	$	20,570

Stockholders' Equity (Tables)

12 Months Ended

Oct. 31, 2021

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 2021, 2020 and 2019, and the weighted average grant price is as follows:


	Year Ended October 31,
	2021			2020			2019
	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
Executive Awards	95,000	$	15.26	95,000	$	18.87	90,000	$	19.84
Director Awards	30,663	$	16.85	17,841	$	20.05	15,642	$	21.65
Total	125,663	$	15.65	112,841	$	19.06	145,737	$	19.73

Summary of Restricted Stock Activity

A summary of the status of the Company’s nonvested shares as of October 31, 2021, and changes during the year ended October 31, 2021, is presented below:


	Number of Shares	Weighted-Average Grant Price
Nonvested at October 31, 2020	148,460	$	19.85
Granted	125,663	$	15.65
Vested	(161,123)	$	18.31

Nonvested at October 31, 2021	113,000	$	17.38

Segment Information (Tables)

12 Months Ended

Oct. 31, 2021

Segment Reporting [Abstract]

Summary of Segment Information and Revenues by Category

Segment information for fiscal year 2021 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	125,448	$	17,514	$	—	$	6,784	$	11,635	$	161,381	$	4,646	$	166,027
Intersegment revenue	—		25,637		(25,637)		—		—		—		—		—
Total net revenues	125,448		43,151		(25,637)		6,784		11,635		161,381		4,646		166,027
Costs and expenses	116,117		36,018		(25,637)		4,211		9,157		139,866		22,682		162,548
Depreciation and amortization	—		—		—		—		—		8,626		1,186		9,812
Operating income (loss)	$	9,331	$	7,133	$	—	$	2,573	$	2,478	$	12,889	$	(19,222)	$	(6,333)

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)

22. Segment Information (continued)

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)

The following is a detail of other agribusiness revenues for fiscal years 2021, 2020 and 2019 (in thousands):


	Year Ended October 31,
	2021		2020		2019





Oranges	$	4,382	$	7,722	$	6,022
Specialty citrus and other crops	7,253		5,846		5,165
Other agribusiness revenues	$	11,635	$	13,568	$	11,187

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Accounting Policies [Line Items]
Allowance for accounts receivable	$ 444,000	$ 812,000
Revenues	161,381,000	159,937,000	$ 166,549,000
Capitalized costs related to real estate projects	1,192,000	4,034,000
Equity securities	0	0
Aggregate foreign exchange transaction losses	646,000
Agribusiness revenues from crop insurance proceeds	0	0	2,311,000
Advertising costs	$ 178,000	$ 239,000
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	10 years
Pension Plan
Accounting Policies [Line Items]
Assumed discount rate used to measure pension obligations	2.58%	2.50%
Decrease in pension liability	$ (858,000)	$ 1,236,000
Pension Plan \| Change in Assumptions for Defined Benefit Plans
Accounting Policies [Line Items]
Decrease in pension liability	$ 2,699,000
Customer Concentration Risk \| Revenue \| Two Customers
Accounting Policies [Line Items]
Concentration risk, percentage	10.00%
Customer Concentration Risk \| Revenue \| One Customer
Accounting Policies [Line Items]
Concentration risk, percentage	10.00%
Avocados
Accounting Policies [Line Items]
Revenues	$ 6,594,000	$ 8,806,000	$ 3,080,000
Lemon \| Supplier Concentration Risk \| Revenue
Accounting Policies [Line Items]
Concentration risk, percentage	52.00%	60.00%	60.00%
Lemon \| Supplier Concentration Risk \| Revenue \| One Third-Party Grower
Accounting Policies [Line Items]
Concentration risk, percentage	46.00%	39.00%
Chile
Accounting Policies [Line Items]
Long-lived assets, net of accumulated depreciation	$ 14,322,000	$ 15,261,000
Chile \| Lemon and Orange
Accounting Policies [Line Items]
Revenues	2,976,000	3,521,000	$ 3,204,000
Argentina
Accounting Policies [Line Items]
Long-lived assets, net of accumulated depreciation	19,700,000	18,576,000
Argentina \| Lemon
Accounting Policies [Line Items]
Revenues	$ 3,633,000	$ 14,150,000	$ 14,651,000

Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant and Equipment (Details)	12 Months Ended
	Oct. 31, 2021
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) - Accumulated Other Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Pre-tax Amount
Foreign currency translation adjustments	$ (685)	$ (707)	$ (1,103)
Minimum pension liability adjustments:
Other comprehensive gain (loss) before reclassifications	3,440	205	(859)
Available-for-sale securities:
Amounts reclassified to earnings included in "Selling, general and administrative"	0	0	0
Other comprehensive income (loss)	2,755	(502)	(1,962)
Tax (Expense) Benefit
Foreign currency translation adjustments	0	0	0
Minimum pension liability adjustments:
Other comprehensive gain (loss) before reclassifications	(940)	69	252
Available-for-sale securities:
Amounts reclassified to earnings included in "Selling, general and administrative"	0	140	0
Other comprehensive income (loss)	(940)	209	252
Net Amount
Foreign currency translation adjustments	(685)	(707)	(1,103)
Minimum pension liability adjustments:
Other comprehensive gain (loss) before reclassifications	2,500	274	(607)
Available-for-sale securities:
Amounts reclassified to earnings included in "Selling, general and administrative"	0	140	0
Other comprehensive (loss) income	$ 1,815	$ (293)	$ (1,710)

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, 2021	Oct. 31, 2020	Oct. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 195,760	$ 221,688	$ 219,140
Ending balance	188,435	195,760	221,688
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(7,548)	(7,255)	8,965
Other comprehensive (loss) income	1,815	(293)	(1,710)
Ending balance	(5,733)	(7,548)	(7,255)
Accumulated Other Comprehensive Income (Loss) \| Cumulative Effect Adjustment \| ASU 2016-01
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(15,921)
Accumulated Other Comprehensive Income (Loss) \| Cumulative Effect Adjustment \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			1,411
Accumulated Other Comprehensive Income (Loss) \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(5,545)
Foreign Currency Translation Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(3,069)	(2,362)	(1,257)
Other comprehensive (loss) income	(685)	(707)	(1,103)
Ending balance	(3,754)	(3,069)	(2,362)
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
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)
Foreign Currency Translation Loss \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(1,259)
Defined Benefit Pension Plan
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(4,479)	(4,753)	(3,238)
Other comprehensive (loss) income	2,500	274	(607)
Ending balance	(1,979)	(4,479)	(4,753)
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
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)
Defined Benefit Pension Plan \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(4,146)
Available-for-Sale Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	(140)	13,435
Other comprehensive (loss) income	0	140	0
Ending balance	0	0	(140)
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)
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
Available-for-Sale Securities \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(140)
Other
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	0	25
Other comprehensive (loss) income	0	0	0
Ending balance	$ 0	$ 0	0
Other \| Cumulative Effect Adjustment \| ASU 2016-01
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			0
Other \| Cumulative Effect Adjustment \| ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(25)
Other \| Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ 0

Acquisitions - Asset Acquisitions, Narrative (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2019 USD ($) a	Oct. 31, 2021 USD ($)	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Cash purchase price		$ 0	$ 0	$ 397
Orchard In Lindsay, California
Schedule Of Asset Acquisitions, By Acquisition [Line Items]
Cash purchase price	$ 397
Area of land (in acres) \| a	26

Acquisitions - Business Combinations, Narrative (Details) $ in Thousands		1 Months Ended		5 Months Ended	12 Months Ended
	May 30, 2019 USD ($) a	Jun. 30, 2021 USD ($) a installment	Feb. 29, 2020 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2021 USD ($)	Oct. 31, 2020 USD ($)
Business Acquisition [Line Items]
Goodwill				$ 1,839	$ 1,839	$ 1,527	$ 1,535
Trapani Fresh
Business Acquisition [Line Items]
Notes receivables		$ 1,200
Accrued royalties		$ 2,700
Finca Santa Clara \| Argentine Trust
Business Acquisition [Line Items]
Ownership interest	75.00%	100.00%
Ownership interest transferred		25.00%
Trapani Fresh \| FGF Trapani
Business Acquisition [Line Items]
Ownership interest	49.00%
Trapani Fresh
Business Acquisition [Line Items]
Total consideration to be received		$ 3,900
Trapani Fresh \| Santa Clara Ranch
Business Acquisition [Line Items]
Operational ranch acreage (in acres) \| a		1,200
Trapani Fresh \| Discontinued Operations, Disposed of by Sale
Business Acquisition [Line Items]
Payment term		8 years
Number of installments \| installment		16
Trapani Fresh
Business Acquisition [Line Items]
Ownership interest acquired	51.00%
Total consideration paid	$ 15,000
Transaction costs	654
Change in purchase consideration			$ 152
Goodwill	$ 123
Revenue since the acquisition date included in the statement of operations				14,651
Net income since the acquisition date included in the statement of operations				$ 999
Pro forma revenues					177,625
Pro forma net loss					$ (6,092)
Trapani Fresh \| Finca Santa Clara
Business Acquisition [Line Items]
Area of land (in acres) \| a	1,200
Argentine Trust
Business Acquisition [Line Items]
Ownership interest acquired	51.00%

Acquisitions - Schedule of the Fair Value of Net Assets Acquired (Details) - USD ($) $ in Thousands	May 30, 2019	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 1,527	$ 1,535	$ 1,839
Trapani Fresh
Business Acquisition [Line Items]
Cultural costs	$ 3,270
Buildings and building improvements	870
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
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

Fair Value Measurements - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net proceeds from sale of stock	$ 0	$ 11,048	$ 4,785
Loss on sale of stock	$ 0	$ (6,299)	$ (2,117)
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
Net proceeds from sale of stock		$ 11,048	$ 4,785
Loss on sale of stock		$ 6,299	$ 2,117

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid supplies and insurance	$ 2,521	$ 2,080
Note receivable and related interest	2,438	2,490
Real estate development held for sale	2,543	2,543
Sales tax receivable	909	1,867
Lemon supplier advances and other	2,298	1,708
Prepaid expenses and other current assets	$ 10,709	$ 10,688

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 328,402	$ 320,199
Less accumulated depreciation	(85,982)	(77,550)
Total property, plant and equipment	242,420	242,649
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	95,868	96,334
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	35,440	33,733
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	48,565	48,441
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	62,598	60,124
Orchards
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	63,454	61,098
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 22,477	$ 20,469

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2020	Sep. 30, 2019	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation expense			$ 8,883	$ 9,098	$ 7,944
Net proceeds from sales of assets			119	6,261	3,978
Gain on sale of property assets			$ (109)	$ (502)	$ 1,069
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
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 assets		$ 4,000
Gain on sale of property assets		$ 586

Real Estate Development - Schedule of Real Estate Development Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Real Estate Properties [Line Items]
Real estate development assets	$ 22,828	$ 21,636
East Area I - Retained property
Real Estate Properties [Line Items]
Real estate development assets	13,335	13,169
East Area II
Real Estate Properties [Line Items]
Real estate development assets	$ 9,493	$ 8,467

Real Estate Development - East Areas I and II, Narrative (Details)	1 Months Ended
	Jan. 31, 2018 USD ($)	Oct. 31, 2021 USD ($) residentialUnit	Oct. 31, 2020 USD ($)	Feb. 29, 2020 USD ($)	Feb. 28, 2018 USD ($)	Nov. 10, 2015 USD ($)	Oct. 31, 2005 a property
Real Estate Properties [Line Items]
Loan balance		$ 132,825,000	$ 125,848,000
Line of credit facility extension option period		1 year
Number of residential units sold \| residentialUnit		586
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		$ 0
Maximum borrowing capacity		35,000,000
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]
Amount loaned to joint venture				$ 1,800,000
Interest rate				4.60%
LLCB \| Affiliated Entity
Real Estate Properties [Line Items]
Payables to related parties		$ 5,771,000	$ 5,300,000
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%
Equity method investment, aggregate cost						$ 20,000,000

Real Estate Development - Other Real Estate Development Projects, Narrative (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended	12 Months Ended
	Sep. 30, 2022	Nov. 30, 2021	May 31, 2021	Dec. 31, 2017	Jan. 31, 2021	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019	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	0	$ 2,886
Collection on loan and note receivable						25	1,800	$ 150
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
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
Collection on loan and note receivable			$ 400
Carrying value of note						$ 2,600
Centennial \| Subsequent Event
Real Estate Properties [Line Items]
Interest rate		4.00%
Centennial \| Forecast
Real Estate Properties [Line Items]
Collection on loan and note receivable	$ 250	$ 250

Equity in Investments - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2017	May 31, 2007	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2007	Oct. 31, 2017	Oct. 31, 2014	Aug. 14, 2014
Schedule of Equity Method Investments [Line Items]
Payment to acquire equity method investment			$ 0	$ 2,800	$ 4,000
Goodwill			1,527	1,535	1,839
Amortization of intangible assets			929	999	689
Expected future amortization of intangible assets in 2022			724
Expected future amortization of intangible assets in 2023			724
Expected future amortization of intangible assets in 2024			716
Expected future amortization of intangible assets in 2025			711
Expected future amortization of intangible assets in 2026			711
Thereafter			$ 1,102
Limco Del Mar, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership interest			50.00%
Expense reimbursements received			$ 200	210	159
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			$ 1,681	1,037	1,674
Amounts due to related parties			$ 694	334
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	180	298
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
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			1,570	(954)
Rosales \| Rosales \| Lemons and Oranges
Schedule of Equity Method Investments [Line Items]
Purchases from related parties			5,304	3,190	4,315
Rosales \| Rosales \| Lemons
Schedule of Equity Method Investments [Line Items]
Revenue from related parties			3,405	3,975	3,741
LLCB
Schedule of Equity Method Investments [Line Items]
Difference between carrying amount and underlying equity			8,801
Historical investment in the project			51,416
Amortization of capitalized interest and certain other costs			1,434	1,060	1,498
Net income from equity method investment prior to basis amortization			$ 4,508	$ 1,386	$ 4,368

Equity in Investments - Financial Information of Equity Method Investees (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Schedule of Equity Method Investments [Line Items]
Current assets	$ 42,089	$ 42,520
Current liabilities	35,324	31,461
Revenues	166,027	164,559	$ 171,398
Net (loss) income	(3,897)	(17,941)	(5,466)
Del Mar
Schedule of Equity Method Investments [Line Items]
Current assets	492	270
Non-current assets	865	817
Current liabilities	0	0
Non-current liabilities	0	0
Revenues	2,059	930	2,290
Operating income (loss)	1,052	(109)	1,299
Net (loss) income	1,052	(109)	1,299
Romney
Schedule of Equity Method Investments [Line Items]
Current assets	0	0
Non-current assets	617	670
Current liabilities	0	0
Non-current liabilities	0	0
Revenues	17	20	15
Operating income (loss)	(4)	(2)	(5)
Net (loss) income	(4)	(2)	(5)
Rosales
Schedule of Equity Method Investments [Line Items]
Current assets	3,544	4,564
Non-current assets	2,406	2,218
Current liabilities	2,362	3,540
Non-current liabilities	2,083	1,449
Revenues	9,862	10,097	8,898
Operating income (loss)	438	1,216	403
Net (loss) income	35	476	288
LLCB
Schedule of Equity Method Investments [Line Items]
Current assets	108,964	130,171
Non-current assets	0	0
Current liabilities	4,708	35,002
Non-current liabilities	0	0
Revenues	42,853	25,906	37,788
Operating income (loss)	9,087	2,615	10,001
Net (loss) income	$ 9,087	$ 2,615	$ 10,001

Equity in Investments - Investment and Equity in Earnings (Losses) of Equity Method Investees (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Beginning investment balance	$ 61,214	$ 58,223	$ 18,698
Equity earnings (losses)	3,203	339	3,073
Cash distributions	(325)		(634)
Investment contributions		2,800	4,000
Capitalized interest adjustment			(267)
Reclassification of sale and leaseback deferral			33,353
Foreign currency adjustments	(20)	(148)
Ending investment balance	64,072	61,214	58,223
Del Mar
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Beginning investment balance	1,920	1,950	1,935
Equity earnings (losses)	296	(30)	366
Cash distributions	(219)		(351)
Investment contributions		0	0
Capitalized interest adjustment			0
Reclassification of sale and leaseback deferral			0
Foreign currency adjustments	0	0
Ending investment balance	1,997	1,920	1,950
Romney
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Beginning investment balance	511	512	512
Equity earnings (losses)	(3)	(1)	0
Cash distributions	0		0
Investment contributions		0	0
Capitalized interest adjustment			0
Reclassification of sale and leaseback deferral			0
Foreign currency adjustments	0	0
Ending investment balance	508	511	512
Rosales
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Beginning investment balance	1,641	1,745	2,191
Equity earnings (losses)	(164)	44	(163)
Cash distributions	(106)		(283)
Investment contributions		0	0
Capitalized interest adjustment			0
Reclassification of sale and leaseback deferral			0
Foreign currency adjustments	(20)	(148)
Ending investment balance	1,351	1,641	1,745
LLCB
Equity Method Investment, Financial Statement, Reported Amounts [Roll Forward]
Beginning investment balance	57,142	54,016	14,060
Equity earnings (losses)	3,074	326	2,870
Cash distributions	0		0
Investment contributions		2,800	4,000
Capitalized interest adjustment			(267)
Reclassification of sale and leaseback deferral			33,353
Foreign currency adjustments	0	0
Ending investment balance	$ 60,216	$ 57,142	$ 54,016

Goodwill and Intangible Assets, Net - Summary of the Change in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,535	$ 1,839
Acquisition		(297)
Foreign currency translation adjustment	(8)	(7)
Goodwill, ending balance	$ 1,527	$ 1,535

Goodwill and Intangible Assets, Net- Narrative (Details) - USD ($)	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Goodwill [Line Items]
Goodwill impairment losses	$ 0	$ 0	$ 0
Goodwill	1,527,000	1,535,000	1,839,000
Amortization expense	929,000	$ 999,000	$ 689,000
Acquired water and mineral rights
Goodwill [Line Items]
Acquired water rights	186,000
Fresh Lemons
Goodwill [Line Items]
Goodwill	957,000
Lemon Packing
Goodwill [Line Items]
Goodwill	$ 570,000

Goodwill and Intangible Assets, Net- Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (1,894)	$ (2,083)
Net Carrying Amount	4,688
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	10,223	13,392
Accumulated Amortization	(1,894)	(2,083)
Net Carrying Amount	8,329	11,309
Acquired water and mineral rights
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount	3,641	3,571
Net Carrying Amount	3,641	3,571
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,108	3,771
Accumulated Amortization	(663)	(947)
Net Carrying Amount	$ 1,445	$ 2,824
Weighted Average Useful Life	8 years	10 years
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (663)	$ (947)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,037	5,010
Accumulated Amortization	(1,209)	(989)
Net Carrying Amount	$ 2,828	$ 4,021
Weighted Average Useful Life	9 years	9 years
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (1,209)	$ (989)
Non-competition agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	437	1,040
Accumulated Amortization	(22)	(147)
Net Carrying Amount	$ 415	$ 893
Weighted Average Useful Life	8 years	10 years
Indefinite-lived Intangible Assets [Line Items]
Accumulated Amortization	$ (22)	$ (147)

Goodwill and Intangible Assets, Net - Estimated Future Amortization Expense of Other Intangible Assets (Details) $ in Thousands	Oct. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 724
2023	724
2024	716
2025	711
2026	711
Thereafter	1,102
Net Carrying Amount	$ 4,688

Other Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Other Assets [Abstract]
Investments in mutual water companies and acquired water rights	$ 5,994	$ 5,563

Accrued Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Accounts Payable and Accrued Liabilities, Current [Abstract]
Compensation	$ 2,112	$ 2,275
Property taxes	676	683
Lemon and orange supplier payables	0	1,346
Operating expenses	1,203	938
Leases	604	959
Other	1,947	1,746
Total accrued liabilities	$ 6,542	$ 7,947

Long-Term Debt - Composition of Long-Term Debt (Details) - USD ($)		12 Months Ended
	Jul. 01, 2021	Oct. 31, 2021	Jul. 02, 2022	Jul. 01, 2022	Aug. 31, 2021	Oct. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross		$ 132,956,000				$ 126,024,000
Less deferred financing costs, net of accumulated amortization		131,000				176,000
Total long-term debt, net		132,825,000				125,848,000
Less current portion		2,472,000				3,277,000
Long-term debt, less current portion		130,353,000				122,571,000
Notes Payable
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,435,000				1,435,000
Variable interest rate		6.50%
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		$ 111,293,000				102,251,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate	1.69%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Reference rate		0.09%
Basis spread on variable rate		1.85%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.35%
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
Interest rate		4.77%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility \| Forecast
Debt Instrument [Line Items]
Interest rate			3.57%	4.77%
3.76% Farm Credit West Term Loan due November 2022
Debt Instrument [Line Items]
Long-term debt, gross		$ 809,000				1,438,000
Interest rate		2.48%
4.14% Farm Credit West Term Loan due October 2035
Debt Instrument [Line Items]
Long-term debt, gross		$ 974,000				1,029,000
Interest rate		3.24%
4.17% Farm Credit West Term Loan due March 2036
Debt Instrument [Line Items]
Long-term debt, gross		$ 8,004,000				8,433,000
Interest rate		3.24%
3.62% Farm Credit West Term Loan due March 2036
Debt Instrument [Line Items]
Long-term debt, gross		$ 5,892,000				6,220,000
Interest rate		2.77%
Wells Fargo Term Loan
Debt Instrument [Line Items]
Long-term debt, gross		$ 0				3,491,000
3.19% Farm Credit West Term Loan due September 2026
Debt Instrument [Line Items]
Long-term debt, gross		$ 2,475,000				0
Interest rate		3.19%			3.19%
6.48% Banco de Chile Term Loan due January 2025
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,011,000				1,205,000
Interest rate		6.48%
3.48% and 2.90% Banco de Chile COVID-19 Loan due September 2024
Debt Instrument [Line Items]
Long-term debt, gross		$ 411,000				522,000
Interest rate		3.48%
3.48% and 4.26% Banco De Chile COVID-19 Loan due September 2026
Debt Instrument [Line Items]
Long-term debt, gross		$ 652,000				$ 0
Interest rate		3.48%				4.26%

Long-Term Debt - Narrative (Details)		1 Months Ended	12 Months Ended
Long-Term Debt - Narrative (Details)	Jul. 01, 2021	Mar. 31, 2020 USD ($)	Oct. 31, 2021 USD ($)	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2022	Jul. 02, 2022	Jul. 01, 2022	Aug. 31, 2021 USD ($)	Sep. 30, 2020 USD ($)	Jul. 31, 2020 USD ($)
Debt Instrument [Line Items]
Long-term debt, gross			$ 132,956,000	$ 126,024,000
Interest costs capitalized			1,110,000	921,000	$ 1,369,000
Deferred financing costs, net of amortization			131,000	176,000
Farm Credit West
Debt Instrument [Line Items]
Dividends received			$ 1,170,000	1,566,000	$ 853,000
3.19% Farm Credit West Term Loan due September 2026
Debt Instrument [Line Items]
Interest rate			3.19%						3.19%
Long-term debt, gross			$ 2,475,000	0
Farm Credit West Revolving and Non-Revolving Lines of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			130,000,000
Long-term debt, gross			111,293,000	$ 102,251,000
Amount available to borrow			18,707,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Forecast
Debt Instrument [Line Items]
Minimum debt service coverage ratio, modified						1.25
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Equity Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 15,000,000	15,000,000
Draw period		3 years
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate	1.69%
Maximum borrowing capacity			$ 75,000,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			1.85%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| Minimum \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| Maximum \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.35%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate			4.77%
Maximum borrowing capacity			$ 40,000,000
Long-term debt, gross			$ 40,000,000
Prepayment fee percent			0.50%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility \| Forecast
Debt Instrument [Line Items]
Interest rate							3.57%	4.77%
Farm Credit West Loan Agreement Secured by Windfall Investors, LLC Property \| Revolving Equity Line of Credit
Debt Instrument [Line Items]
Payment period		20 years
Unsecured Loans Maturing August 2025 And September 2026 \| Unsecured Debt \| San Pablo and PDA
Debt Instrument [Line Items]
Face amount of loan									$ 652,000
Unsecured Loans Maturing August 2025 \| Unsecured Debt \| San Pablo and PDA
Debt Instrument [Line Items]
Interest rate									3.48%
Unsecured Loans Maturing September 2026 \| Unsecured Debt \| San Pablo and PDA
Debt Instrument [Line Items]
Interest rate									4.26%
Unsecured Loans Maturing July 2024 and September 2024 \| Unsecured Debt \| San Pablo and PDA
Debt Instrument [Line Items]
Interest rate										3.48%	3.48%
Face amount of loan										$ 522,000	$ 522,000

Long-Term Debt - Principal Payments on Long-Term Debt (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Debt Disclosure [Abstract]
2022	$ 2,472
2023	3,385
2024	1,815
2025	2,092
2026	112,749
Thereafter	10,443
Total long-term debt, gross	$ 132,956	$ 126,024

Leases - Lessor Arrangements, Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Lessor, Lease, Description [Line Items]
Depreciation expense	$ 669	$ 664
Contingent rental revenue			$ 355
Minimum
Lessor, Lease, Description [Line Items]
Remaining terms of operating leases	1 month
Maximum
Lessor, Lease, Description [Line Items]
Remaining terms of operating leases	21 years

Leases - Components of the Company's Operating Lease Portfolio Included in Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Property, Plant and Equipment [Line Items]
Less accumulated depreciation	$ (6,331)	$ (5,691)
Total property, plant and equipment	15,897	16,347
Land
Property, Plant and Equipment [Line Items]
Property Subject to or Available for Operating Lease, Gross	3,516	3,522
Buildings, equipment and building improvements
Property, Plant and Equipment [Line Items]
Property Subject to or Available for Operating Lease, Gross	$ 18,712	$ 18,516

Leases - Composition of Rental Operations Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Leases [Abstract]
Operating lease revenue	$ 4,329	$ 4,287
Variable lease revenue	317	335
Total lease revenue	$ 4,646	$ 4,622

Leases - Future Minimum Lease Payments to be Received by the Company Related to Lessor Operating Lease Arrangements (Details) $ in Thousands	Oct. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 1,274
2023	1,100
2024	822
2025	823
2026	167
Thereafter	675
Total	$ 4,861

Leases - Lessee Arrangements, Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 606	$ 559
Variable lease, cost	288	$ 0
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
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	16 years

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Leases [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	us-gaap:AccruedLiabilitiesCurrent	us-gaap:AccruedLiabilitiesCurrent
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	us-gaap:AccruedLiabilitiesCurrent	us-gaap:AccruedLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Assets
Operating lease ROU assets	$ 2,041	$ 2,053
Finance lease assets	1,142	0
Total lease, right-to-use asset	3,183	2,053
Liabilities
Current operating lease liabilities	488	521
Current finance lease liabilities	249	0
Non-current operating lease liabilities	1,648	1,610
Non-current finance lease liabilities	884	0
Present value of lease liabilities	$ 3,269	$ 2,131
Weighted-average remaining lease term (in years)
Operating lease weighted-average remaining lease term (in years)	10 years 10 months 24 days	11 years
Finance lease, weighted-average remaining lease term (in years)	4 years 10 months 24 days
Weighted-average discount rate
Operating lease, weighted average discount rate, percent	3.70%	3.80%
Operating lease, weighted average discount rate, percent	3.30%	0.00%

Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 603	$ 559
Operating cash outflows from finance leases	3	0
Financing cash outflows from finance leases	18	0	$ 0
ROU assets obtained in exchange for new operating lease liabilities	271	108
Leased assets obtained in exchange for new finance lease liabilities	$ 1,151	$ 0

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Operating
Liabilities for leases that have not yet commenced	$ 448
2022	488
2023	312
2024	281
2025	210
2026	134
Thereafter	1,192
Total lease payments	2,617
Less: Imputed interest	(481)
Present value of lease liabilities	2,136
Finance
2022	249
2023	249
2024	249
2025	249
2026	229
Thereafter	0
Total lease payments	1,225
Less: Imputed interest	(92)
Present value of lease liabilities	1,133
Total
2022	737
2023	561
2024	530
2025	459
2026	363
Thereafter	1,192
Total lease payments	3,842
Less: Imputed interest	(573)
Present value of lease liabilities	$ 3,269	$ 2,131

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, 2021	Oct. 31, 2020	Oct. 31, 2019
Basic net loss per common share:
Net loss applicable to common stock	$ (3,942)	$ (16,936)	$ (6,444)
Effect of unvested, restricted stock	(35)	(44)	(51)
Numerator: Net loss for basic EPS	$ (3,977)	$ (16,980)	$ (6,495)
Denominator: Weighted-average common shares-basic (in shares)	17,555	17,666	17,580
Basic net loss per common share (in dollars per share)	$ (0.23)	$ (0.96)	$ (0.37)
Diluted net loss per common share:
Numerator: Net loss for diluted EPS	$ (3,977)	$ (16,980)	$ (6,495)
Weighted average common shares-basic (in shares)	17,555	17,666	17,580
Effect of dilutive unvested, restricted stock and preferred stock (in shares)	0	0	0
Denominator: Weighted average common shares - diluted (in shares)	17,555	17,666	17,580
Diluted net loss per common share (in dollars per share)	$ (0.23)	$ (0.96)	$ (0.37)

Earnings Per Share - Narrative (Details) - shares shares in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted losses per share (in shares)	117	164	119

Related-Party Transactions (Details)	12 Months Ended
Related-Party Transactions (Details)	Oct. 31, 2021 USD ($)	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2013 USD ($) a	Oct. 31, 2016 shares
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 Rental Operations	$ 814,000	$ 785,000	$ 744,000
Other Income, Net		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	432,000	64,000
Payables to Related Parties	40,000	64,000
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0
Other Income, Net		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	1,160,000	894,000	838,000
Cooperative association \| Affiliated Entity
Balance Sheet
Receivables/Other from Related Parties	0	0
Other Assets	0	0
Payables to Related Parties	19,000	123,000
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0
Other Income, Net		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	1,750,000	1,849,000	1,687,000
Cadiz / Fenner / WAM \| Affiliated Entity
Balance Sheet
Receivables/Other from Related Parties	0	0
Other Assets	1,386,000	1,443,000
Payables to Related Parties	273,000	182,000
Other Long-Term Liabilities	1,297,000	1,353,000
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0
Other Income, Net		0	0
Dividends Paid	0	0	0
Area of land (in acres) \| a				670
Annual base rental per planted acre (in dollars per 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	338,000	240,000	186,000
FGF \| Co-venturer
Balance Sheet
Receivables/Other from Related Parties	4,598,000	2,213,000
Other Assets	980,000	0
Payables to Related Parties	832,000	604,000
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0
Other Income, Net		0	0
Dividends Paid	0	0	0
FGF \| Co-venturer \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	4,129,000	10,338,000	14,471,000
Agribusiness Expense and Other	2,884,000	13,478,000	10,300,000
LLCB \| Affiliated Entity
Balance Sheet
Receivables/Other from Related Parties	0	0
Other Assets	0	0
Payables to Related Parties	5,771,000	5,300,000
Other Long-Term Liabilities	0	0
Third party growers \| Affiliated Entity
Balance Sheet
Receivables/Other from Related Parties	0	0
Other Assets	0	0
Payables to Related Parties	41,000	0
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0
Other Income, Net		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	147,000	0	10,000
Calavo \| Beneficial Owner
Consolidated Statement of Operations
Net Revenue Rental Operations	320,000	330,000	400,000
Other Income, Net		220,000	250,000
Dividends Paid	503,000	503,000	506,000
Calavo \| Beneficial Owner \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	6,594,000	8,806,000	3,080,000
Agribusiness Expense and Other	721,000	1,223,000	1,096,000
Colorado River Growers \| Affiliated Entity
Balance Sheet
Receivables/Other from Related Parties	0	81,000
Other Assets	0	0
Payables to Related Parties	0	0
Other Long-Term Liabilities	0	0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0
Other Income, Net		0	0
Dividends Paid	0	0	0
Colorado River Growers \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	157,000	603,000	306,000
Agribusiness Expense and Other	2,772,000	6,613,000	5,476,000
YMIDD \| Affiliated Entity
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0
Other Income, Net		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	123,000	139,000	$ 150,000
Freska \| Beneficial Owner
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0
Other Income, Net		0
Dividends Paid	0	0
Freska \| Beneficial Owner \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	128,000	0
Agribusiness Expense and Other	$ 150,000	$ 0

Income Taxes - Reconciliation of Income before Income Taxes for Domestic and Foreign Locations (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ (1,459)	$ (23,195)	$ (6,285)
Foreign	(2,704)	(3,240)	(278)
Loss before income tax benefit	$ (4,163)	$ (26,435)	$ (6,563)

- 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=123359005&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=123359005&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=123359005&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=123384075&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=123359005&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=123367319&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=123359005&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, 2021	Oct. 31, 2020	Oct. 31, 2019
Current:
Federal	$ 37	$ 5,835	$ (7)
State	40	332	563
Foreign	0	194	(232)
Total current benefit (provision)	77	6,361	324
Deferred:
Federal	(17)	640	998
State	127	1,177	(302)
Foreign	79	316	77
Total deferred benefit	189	2,133	773
Total income tax benefit	$ 266	$ 8,494	$ 1,097

Income Taxes - Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020
Deferred income tax assets:
Reserve and other accruals	$ 646	$ 643
Net operating losses	6,312	4,983
Right-of-use asset	531	578
Minimum pension liability adjustment	231	962
Amortization	0	325
Other assets	240	0
Interest expense limitation	2	306
Stock based compensation	493	549
Total deferred income tax assets	8,455	8,346
Valuation allowance	(1,324)	(540)
Total net deferred income tax assets	7,131	7,806
Deferred income tax liabilities:
Property taxes	(161)	(173)
Depreciation	(18,665)	(16,930)
Amortization	(242)	0
Land and other indefinite life assets	(6,581)	(6,905)
Investment in joint ventures and other basis adjustments	(3,510)	(4,097)
Right-of-use asset	(510)	(557)
Prepaids and receivables	(260)	0
Other	(55)	(1,241)
Total deferred income tax liabilities	(29,984)	(29,903)
Net deferred income tax liabilities	(22,853)	(22,097)
Deferred income taxes — noncurrent assets	0	333
Deferred income taxes — noncurrent liabilities	$ (22,853)	$ (22,430)

Income Taxes - Narrative (Details) - USD ($)		1 Months Ended		3 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Mar. 27, 2020	Dec. 31, 2020	Oct. 31, 2020	Jul. 31, 2021	Oct. 31, 2021
Operating Loss Carryforwards [Line Items]
Valuation allowance on deferred tax assets			$ 540,000		$ 1,324,000
Operating loss carryforwards					6,312,000
Unrecognized tax benefits			0		0
Income tax examination, penalties and interest accrued					0
COVID-19
Operating Loss Carryforwards [Line Items]
Discrete tax benefit	$ 1,948,000
Income tax refund	$ 5,801,000
Proceeds from income tax refund		$ 4,960,000	$ 841,000	$ 948,000
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards					$ 17,443,000
Net operating loss carryforward limitation as a percent of taxable income					80.00%
Disallowed interest expense carryforwards					$ 0
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards					21,277,000
Disallowed interest expense carryforwards					$ 2,065,000

Income Taxes - Summary of Net Operating Loss Carryforwards (Details) $ in Thousands	Oct. 31, 2021 USD ($)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 6,312
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	17,443
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	21,277
Foreign \| Chile
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	2,248
Foreign \| Holland
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	66
Foreign \| Argentina
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 2,390

Income Taxes - Reconciliation of Income Tax Provision from that Computed Using the Federal Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Amount
Provision at statutory rates	$ 874	$ 5,551	$ 1,351
State income tax, net of federal benefit	224	1,431	316
Dividend exclusion	0	27	28
Meals and entertainment	0	(18)	(90)
Transaction costs	0	0	(137)
Shared-based compensation	(217)	0	0
Executive compensation	45	0	0
Tax law change	57	1,948	0
State rate adjustment	(78)	(82)	(109)
Valuation allowance	(831)	(168)	(393)
Foreign rate differential	130	0	0
Noncontrolling interest	(83)	(305)	116
Other permanent items	235	110	15
Total income tax benefit	$ 266	$ 8,494	$ 1,097
%
Provision at statutory rates	(21.00%)	(21.00%)	(21.00%)
State income tax, net of federal benefit	(5.40%)	(5.40%)	(4.90%)
Dividend exclusion	0.00%	(0.10%)	(0.40%)
Meals and entertainment	0.00%	0.10%	1.40%
Transaction costs	0.00%	0.00%	2.10%
Shared-based compensation	5.20%	0.00%	0.00%
Executive compensation	1.10%	0.00%	0.00%
Tax law change	(1.40%)	(7.40%)	0.00%
State rate adjustment	1.90%	0.30%	1.70%
Valuation allowance	20.00%	0.60%	6.10%
Foreign rate differential	(3.10%)	0.00%	0.00%
Noncontrolling interest	2.00%	1.10%	(1.80%)
Other permanent items	(5.70%)	(0.40%)	(0.30%)
Total income tax benefit	(6.40%)	(32.20%)	(17.10%)

Retirement Plans - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Maximum annual earnings that may be deferred (up to)	100.00%
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Funding contributions	$ 0
Pension Plan \| Cash
Defined Benefit Plan Disclosure [Line Items]
Long-term asset allocation target percentage	1.00%
Pension Plan \| Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Long-term asset allocation target percentage	99.00%
401(k) Plan
Defined Benefit Plan Disclosure [Line Items]
Matching contribution percentage (up to)	4.00%
Annual vesting rate	20.00%
Plan contribution expense	$ 546	$ 1,107	$ 927

Retirement Plans - Components of Net Periodic Benefit Cost (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Administrative expenses	$ 277	$ 278
Interest cost	550	641
Expected return on plan assets	(867)	(990)
Prior service cost	45	45
Amortization of net loss	737	739
Net periodic benefit cost	$ 742	$ 713

Retirement Plans - Summary of the Plan's Funded Status (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Change in benefit obligation:
Benefit obligation at beginning of year	$ 22,898	$ 22,267
Administrative expenses	277	278
Interest cost	550	641
Benefits paid	(1,450)	(1,524)
Actuarial (gain) loss	(858)	1,236
Benefit obligation at end of year	21,417	22,898
Change in plan assets:
Fair value of plan assets at beginning of year	19,352	19,229
Actual return on plan assets	2,668	1,647
Benefits paid	(1,450)	(1,524)
Fair value of plan assets at end of year	20,570	19,352
Amounts recognized in statements of financial position:
Noncurrent liabilities	(847)	(3,546)
Net obligation recognized in statements of financial position	(847)	(3,546)
Reconciliation of amounts recognized in statements of financial position:
Prior service cost	(99)	(144)
Net loss	(2,766)	(6,162)
Accumulated other comprehensive loss	(2,865)	(6,306)
Accumulated contributions in excess of net periodic benefit cost	$ 2,018	$ 2,760

Retirement Plans - Changes in Accumulated Other Comprehensive Income in the Plan (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Changes recognized in other comprehensive income:
Net (gain) loss arising during the year	$ (2,658)	$ 579
Amortization of prior service cost	(45)	(45)
Amortization of net loss	(737)	(739)
Total recognized in other comprehensive income	(3,440)	(205)
Total recognized in net periodic benefit and other comprehensive income	$ (2,699)	$ 508

Retirement Plans - Assumptions Used in Determining Benefit Obligations and Net Periodic Benefit Cost (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Weighted-average assumptions used to determine benefit obligations:
Discount rate	2.58%	2.50%
Assumptions used to determine net periodic benefit cost:
Discount rate	2.50%	3.00%
Expected return on plan assets	5.05%	5.66%
Additional year-end information:
Projected benefit obligation	$ 21,417	$ 22,898	$ 22,267
Accumulated benefit obligation	21,417	22,898
Fair value of plan assets	$ 20,570	$ 19,352	$ 19,229

Retirement Plans - Benefits Expected to be Paid Over the Next 10 Fiscal Years (Details) - Pension Plan $ in Thousands	Oct. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2022	$ 1,120
2023	20,835
2024 - 2026	0
Next five years	0
Total	$ 21,955

Retirement Plans - Plan Assets Segregated by Fair Value Hierarchy Level (Details) - Pension Plan - USD ($) $ in Thousands	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 20,570	$ 19,352	$ 19,229
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	250
Pooled funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,320
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	250
Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	250
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	20,320
Level 2 \| Cash and cash equivalents
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	20,320
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 \| 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 Millions	2 Months Ended	12 Months Ended		36 Months Ended
	Apr. 30, 2014 USD ($) $ / shares shares	Oct. 31, 2021 vote $ / shares shares	Oct. 31, 2020 $ / shares shares	Oct. 31, 2017 shares	Oct. 31, 1997 $ / shares shares
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	14,790
Conversion price (in dollars per share) \| $ / shares		$ 8.00
Temporary equity, shares converted (in shares)				15,210
Common Stock
Temporary Equity [Line Items]
Convertible preferred stock, shares issued upon conversion (in shares)				190,124
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 \| $	$ 9.3
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, 2021	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019	Dec. 14, 2021
Class of Stock [Line Items]
Vesting period		2 years
Performance awards of restricted stock granted (in shares)		0	0	0
Unrecognized stock-based compensation expense		$ 1,963,000
Compensation expense recognition period		3 years
Compensation expense recognized in the period		$ 2,582,000	$ 2,044,000	$ 1,791,000
Income tax benefit recognized in the income statement for stock-based compensation arrangements		476,000	400,000	324,000
Fair value of shares vested		2,951,000	$ 2,365,000	$ 1,788,000
Authorized repurchase amount		$ 10,000,000
Shares repurchased (in shares)		0	250,977
Treasury shares repurchased			$ 3,493,000
Treasury Stock
Class of Stock [Line Items]
Treasury shares repurchased			$ 3,493,000
Subsequent Event
Class of Stock [Line Items]
Dividends declared (in dollars per share)					$ 0.075
Dividends declared					$ 1,328,000
Management
Class of Stock [Line Items]
Shares exchanged for payroll taxes associated with the vesting of shares (in shares)		46,993	11,314	36,627
Fair value of shares exchanged for payroll taxes associated with the vesting of shares		$ 701,000	$ 213,000	$ 606,000
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)	70,000
Per share value of common stock granted (in dollars per share)	$ 14.96
Unrecognized stock-based compensation expense	$ 1,047,000
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)		156,036
Series A Junior Participating Preferred Stock
Class of Stock [Line Items]
Shares of preferred stock authorized (in shares)		20,000
Par value of preferred stock (in dollars per share)		$ 0.01
Preferred stock, shares issued (in shares)		0
Preferred stock, shares outstanding (in shares)		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, 2021	Oct. 31, 2020	Oct. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares (in shares)	125,663	112,841	145,737
Weighted-Average Grant Price (in dollars per share)	$ 15.65	$ 19.06	$ 19.73
Director Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares (in shares)	30,663	17,841	15,642
Weighted-Average Grant Price (in dollars per share)	$ 16.85	$ 20.05	$ 21.65
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares (in shares)	0	0	40,095
Weighted-Average Grant Price (in dollars per share)	$ 0	$ 0	$ 18.74
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-Average Grant Price (in dollars per share)	$ 15.65
Restricted Stock \| Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares (in shares)	95,000	95,000	90,000
Weighted-Average Grant Price (in dollars per share)	$ 15.26	$ 18.87	$ 19.84

Stockholders' Equity - Summary of Restricted Stock Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Weighted-Average Grant Price
Granted (in dollars per share)	$ 15.65	$ 19.06	$ 19.73
Restricted Stock
Number of Shares
Beginning balance (in shares)	148,460
Granted (in shares)	125,663
Vested (in shares)	(161,123)
Ending balance (in shares)	113,000	148,460
Weighted-Average Grant Price
Outstanding (in dollars per share)	$ 19.85
Granted (in dollars per share)	15.65
Vested (in dollars per share)	18.31
Outstanding (in dollars per share)	$ 17.38	$ 19.85

Fruit Growers Supply Cooperative (Details) - USD ($)	12 Months Ended
Fruit Growers Supply Cooperative (Details) - USD ($)	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Fruit Growers Supply Cooperative [Abstract]
Total amount of allocated after tax earnings from cooperative supply corporation	$ 729,000
Amount of dividends received from cooperative supply corporation, recorded as reductions against agribusiness expenses	216,000	$ 513,000	$ 0
Remaining amount of allocated after tax earnings from cooperative supply corporation, outstanding	$ 0

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Oct. 31, 2021 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segment Information - Summary of Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 166,027	$ 164,559	$ 171,398
Costs and expenses	162,548	173,470	168,279
Depreciation and amortization	9,812	10,097	8,633
Operating income (loss)	(6,333)	(19,008)	(5,514)
Eliminations
Segment Reporting Information [Line Items]
Revenues	25,637	36,820	30,073
Costs and expenses	(25,637)	(36,820)	(30,073)
Depreciation and amortization	0	0	0
Operating income (loss)	0	0	0
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	4,646	4,622	4,849
Costs and expenses	22,682	25,132	23,530
Depreciation and amortization	1,186	1,154	1,010
Operating income (loss)	(19,222)	(21,664)	(19,691)
Total Agribusiness
Segment Reporting Information [Line Items]
Revenues	161,381	159,937	166,549
Costs and expenses	139,866	148,338	144,749
Depreciation and amortization	8,626	8,943	7,623
Operating income (loss)	12,889	2,656	14,177
Total Agribusiness \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	161,381	159,937	166,549
Fresh Lemons
Segment Reporting Information [Line Items]
Revenues	125,448	124,150	134,342
Costs and expenses	116,117	125,305	120,998
Depreciation and amortization	0	0	0
Operating income (loss)	9,331	(1,155)	13,344
Fresh Lemons \| Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0	0
Fresh Lemons \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	125,448	124,150	134,342
Lemon Packing
Segment Reporting Information [Line Items]
Revenues	17,514	13,413	15,629
Costs and expenses	36,018	42,563	37,639
Depreciation and amortization	0	0	0
Operating income (loss)	7,133	7,670	8,063
Lemon Packing \| Eliminations
Segment Reporting Information [Line Items]
Revenues	(25,637)	(36,820)	(30,073)
Lemon Packing \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	43,151	50,233	45,702
Avocados
Segment Reporting Information [Line Items]
Revenues	6,784	8,806	5,391
Costs and expenses	4,211	5,168	3,150
Depreciation and amortization	0	0	0
Operating income (loss)	2,573	3,638	2,241
Avocados \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	6,784	8,806	5,391
Other Agribusiness
Segment Reporting Information [Line Items]
Revenues	11,635	13,568	11,187
Costs and expenses	9,157	12,122	13,035
Depreciation and amortization	0	0	0
Operating income (loss)	2,478	1,446	(1,848)
Other Agribusiness \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 11,635	$ 13,568	$ 11,187

Segment Information - Revenues by Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 161,381	$ 159,937	$ 166,549
Other Agribusiness \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	11,635	13,568	11,187
Oranges \| Other Agribusiness \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4,382	7,722	6,022
Specialty citrus and other crops \| Other Agribusiness \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 7,253	$ 5,846	$ 5,165

- 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
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Label	Element	Value
Accounting Standards Update 2016-01 [Member]
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-01 [Member]
Accounting Standards Update 2018-02 [Member]
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2018-02 [Member]

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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