XML 26 R12.htm IDEA: XBRL DOCUMENT v3.21.2
Investments In and Receivables From Affiliates
 12 Months Ended
Oct. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Investments In and Receivables From Affiliates
Investments In and Receivables From Affiliates
The Company accounts for its majority-owned operations under the consolidation method. Investments in which the Company owns a minority interest and for which there are no other indicators of control, are accounted for under the equity or cost method. These investments, along with any related receivables from affiliates, are included in the Consolidated Statements of Financial Position as Investments In and Receivables From Affiliates.

Investments In and Receivables from Affiliates consists of:
(in thousands)SegmentPercent OwnedOctober 31, 2021October 25, 2020
MegaMex Foods, LLCGrocery Products
50%
$205,413 $220,907 
Other Joint VenturesInternational & Other
Various (20 – 40%)
93,606 87,466 
Total$299,019 $308,372 
 
Equity in Earnings of Affiliates consists of: 
(in thousands)Segment202120202019
MegaMex Foods, LLCGrocery Products$38,178 $31,919 $38,676 
Other Joint VenturesInternational & Other9,585 3,653 525 
Total$47,763 $35,572 $39,201 
 
Dividends received from affiliates for the fiscal years ended October 31, 2021, October 25, 2020, and October 27, 2019, were $45.0 million, $37.5 million, and $22.5 million, respectively.

The Company recognized a basis difference of $21.3 million associated with the formation of MegaMex Foods, LLC, of which $11.0 million is remaining as of October 31, 2021. This difference is being amortized through Equity in Earnings of Affiliates.