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Income Taxes (Tables)

12 Months Ended

Oct. 31, 2012

Income Taxes [Abstract]

Summary of income tax provision

The income tax provision consists of the following for the years ended October 31 (in thousands):

		2012				2011				2010
Current:
Federal		$	8,212			$	4,405			$	7,988
State			1,233				1,107				1,868
Foreign			2,428				(170	)			153
Total current			11,873				5,342				10,009
Deferred:
Federal			(214	)			1,277				1,157
State			(559	)			208				277
Foreign			(45	)			422				(104	)
Total deferred			(818	)			1,907				1,332
Total income tax provision		$	11,055			$	7,249			$	11,341

Significant components of deferred taxes assets (liabilities)

Significant components of our deferred taxes assets (liabilities) as of October 31, are as follows (in thousands):

		2012				2011
Allowances for accounts receivable		$	714			$	564
Inventories			483				435
State taxes			350				276
Accrued liabilities			675				861
Current deferred income taxes		$	2,222			$	2,136
Property, plant, and equipment			(5,604	)			(5,258	)
Intangible assets			105				(312	)
Unrealized gain, Limoneira investment			(6,008	)			(2,614	)
Stock-based compensation			286				183
State taxes			546				—
Other			10				(1	)
Long-term deferred income taxes		$	(10,665	)		$	(8,002	)

Reconciliation of significant differences between federal statutory income tax rate and effective income tax rate

A reconciliation of the significant differences between the federal statutory income tax rate and the effective income tax rate on pretax income for the years ended October 31, is as follows:

		2012				2011				2010
Federal statutory tax rate			35.0	%			35.0	%			35.0	%
State taxes, net of federal effects			1.7				4.8				4.8
Foreign income taxes greater (less) than U.S.			(2.7	)			(0.9	)			(0.9	)
Hacienda assessment			6.3				—				—
Other			(0.8	)			0.9				0.2
			39.5	%			39.8	%			39.1	%

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

Balance at November 1, 2010		$	103
Reductions of tax positions from prior years			(62	)
Balance at October 31, 2011			41
Reductions of tax positions from prior years			(41	)
Balance at October 31, 2012		$	—

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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