XML 20 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Oct. 31, 2015
Oct. 31, 2014
Oct. 31, 2013
Cash Flows from Operating Activities:      
Net income $ 27,199 $ (215) $ (2,684)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 8,038 6,926 6,367
Provision for losses on accounts receivable 75 154 1
Loss from unconsolidated entities 109 15 100
Interest on contingent consideration   37 146
Contingent consideration and non-cash compensation related to the acquisition of RFG   53,611 33,811
Contingent consideration related to acquisition of Salsa Lisa 15 (491) (230)
Stock compensation expense 2,108 727 376
Gain on deconsolidation of FreshRealm   (12,622)  
Loss on disposal of property, plant, and equipment 147 115 30
Intangible assets impairment on Calavo Salsa Lisa     615
Deferred income taxes 3,183 (15,076) (12,121)
Effect on cash of changes in operating assets and liabilities:      
Accounts receivable (2,063) (1,712) (16,191)
Inventories, net 4,713 (2,302) (5,725)
Prepaid expenses and other current assets (1,780) (5,614) (3,567)
Advances to suppliers 438 (45) (844)
Income taxes receivable (3,465) (648) 781
Other assets 441 48 135
Payable to growers (1,889) (6,985) 7,705
Trade accounts payable and accrued expenses 14 8,624 5,007
Net cash provided by operating activities 37,283 24,547 13,712
Cash Flows from Investing Activities:      
Acquisitions of property, plant, and equipment (18,099) (11,613) (6,746)
Investment in unconsolidated entities   (125)  
Proceeds received for repayment of San Rafael note 386    
Proceeds from liquidation of Calavo Chile 262    
Decrease in cash due to deconsolidation of FreshRealm   (6,813)  
Investment in FreshRealm (800)    
Infrastructure advance to Agricola Belher (1,000)    
Loan to Agricola Don Memo (803) (3,202)  
Investment in Agricola Don Memo (1,000)   (1,000)
Net cash used in investing activities (21,054) (21,753) (7,746)
Cash Flows from Financing Activities:      
Payment of dividend to shareholders (12,971) (11,005) (9,646)
Proceeds from revolving credit facility 255,350 242,340 200,670
Payments on revolving credit facility (254,340) (240,430) (186,850)
Payments on long-term obligations (5,098) (5,160) (5,405)
Retirement of stock purchased from Limoneira     (4,788)
Proceeds from stock option exercises 249 127 751
Tax benefit of stock option exercises 191 59 139
Net cash used in financing activities (15,802) (4,069) (5,050)
Net increase (decrease) in cash and cash equivalents 427 (1,275) 916
Cash and cash equivalents, beginning of period 6,744 8,019 7,103
Cash and cash equivalents, end of period 7,171 6,744 8,019
Cash paid during the year for:      
Interest 843 986 1,087
Income taxes 15,495 11,355 5,532
Noncash Investing and Financing Activities:      
Issuance of stock related to RFG contingent consideration   66,988 28,973
Declared dividends payable 13,907 12,971 11,004
Construction in progress included in trade accounts payable and accrued expenses 529    
Noncash assets received for issuance of noncontrolling interest 194    
Collection for Agricola Belher Infrastructure Advance 845 845 1,690
Unrealized holding losses (16,940) (1,175) 6,690
FreshRealm      
Cash Flows from Financing Activities:      
Proceeds from issuance of stock   $ 10,000 $ 79
Avocados de Jalisco      
Cash Flows from Financing Activities:      
Proceeds from issuance of stock $ 817