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Fair Value Measurements (Tables) | 12 Months Ended
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Oct. 31, 2012
Fair Value Measurements [Abstract] |
Financial assets and liabilities measured on a recurring basis | The following table sets forth our financial assets and liabilities as of October 31, 2012 that are measured on a recurring basis during the period, segregated by level within the fair value hierarchy:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (All amounts are presented in thousands) |
Assets at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in Limoneira Company (1) |  | $ | 38,841 |  |  |  | — |  |  |  | — |  |  | $ | 38,841 |
Total assets at fair value |  | $ | 38,841 |  |  | $ | — |  |  | $ | — |  |  | $ | 38,841 |
(1) | The investment in Limoneira Company consists of marketable securities in the Limoneira Company stock. We currently own approximately 15% of Limoneira’s outstanding common stock. These securities are measured at fair value by quoted market prices. Limoneira’s stock price at October 31, 2012 and October 31, 2011 equaled $22.47 per share and $17.35 per share. Unrealized gains and losses are recognized through other comprehensive income. Unrealized investment holding gains arising during the year ended October 31, 2012 was $8.9 million. Unrealized investment holding losses arising during the year ended October 31, 2011 was $5.0 million. Unrealized investment holding gains arising during the year ended October 31, 2010 was $10.8 million.
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (All amounts are presented in thousands) |
Liabilities at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salsa Lisa contingent consideration (2) |  |  | — |  |  |  | — |  |  | $ | 857 |  |  | $ | 857 |
RFG contingent consideration (2) |  |  | — |  |  |  | — |  |  |  | 2,322 |  |  |  | 2,322 |
Total liabilities at fair value |  | $ | — |  |  | $ | — |  |  | $ | 3,179 |  |  | $ | 3,179 |
(2) | Each period, we revalue our contingent consideration obligations to their fair value and record increases or decreases in the fair value into selling, general and administrative expense. Increases or decreases in the fair value of the contingent consideration obligations can result from changes in the assumed timing and amount of revenue and expense estimates, changes in the probability of payment scenarios, as well as changes in capital market conditions, which impact the discount rate used in the Fair Valuation. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date and for each subsequent period. Accordingly, future business and economic conditions, as well as changes in any of the assumptions described above, can materially impact the amount of contingent consideration expense we record in any given period. Total net increase to the contingent considerations in fiscal year 2012 totaled $0.4 million. Total net decrease to the contingent considerations in fiscal year 2011 totaled $0.5 million. See Note 16 for further discussion.
Reconciliation of the contingent consideration | The following is a reconciliation of the beginning and ending amounts of the contingent consideration for Salsa Lisa and RFG:
|  | Balance at 10/31/11 |  |  | Acquisition |  |  | Interest |  |  | Revalue Adjustment |  |  | Balance at 10/31/12 |
|  | (All amounts are presented in thousands) |
Salsa Lisa contingent consideration |  | $ | 978 |  |  | $ | — |  |  | $ | 56 |  |  | $ | (177 | ) |  | $ | 857 |
RFG contingent consideration |  |  | 1,652 |  |  |  | — |  |  |  | 73 |  |  |  | 597 |  |  |  | 2,322 |
Total |  | $ | 2,630 |  |  | $ | — |  |  | $ | 129 |  |  | $ | 420 |  |  | $ | 3,179 |
|  | Balance at 10/31/10 |  |  | Acquisition |  |  | Interest |  |  | Revalue Adjustment |  |  | Balance at 10/31/11 |
|  | (All amounts are presented in thousands) |
Salsa Lisa contingent consideration |  | $ | 1,521 |  |  | $ | — |  |  | $ | 70 |  |  | $ | (613 | ) |  | $ | 978 |
RFG contingent consideration |  |  | — |  |  |  | 1,543 |  |  |  | 31 |  |  |  | 78 |  |  |  | 1,652 |
Total |  | $ | 1,521 |  |  | $ | 1,543 |  |  | $ | 101 |  |  | $ | (535 | ) |  | $ | 2,630 |

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- Definition Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a,b,bb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=7578670&loc=SL7498348-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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