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Income Taxes (Tables)

12 Months Ended

Oct. 31, 2017

Income Tax Disclosure [Abstract]

Summary of Income Tax Provision

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

		2017			2016			2015
Current:
Federal		$	14,875		$	17,244		$	10,150
State			2,561			2,040			1,650
Foreign			290			982			1,110
Total current			17,726			20,266			12,910
Deferred:
Federal			2,567			1,863			3,314
State			335			533			98
Foreign			(178)			(793)			(229)
Total deferred			2,724			1,603			3,183
Total income tax provision		$	20,450		$	21,869		$	16,093

Significant Components of Deferred Taxes Assets (Liabilities)

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

		2017			2016
Property, plant, and equipment			(7,861)			(6,901)
Intangible assets			24,647			27,686
Unrealized gain, Limoneira investment			(6,485)			(4,048)
Investment in FreshRealm			(6,808)			(6,902)
Stock-based compensation			1,154			952
State taxes			(805)			(931)
Credits and incentives			2,253			2,070
Allowance for accounts receivable			1,239			875
Inventories			322			395
Accrued liabilities			2,245			1,912
Other			(118)			(164)
Long-term deferred income taxes		$	9,783		$	14,944

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:

		2017		2016		2015
Federal statutory tax rate		35.0	%	35.0	%	35.0	%
State taxes, net of federal effects		2.9		2.9		3.0
Foreign income taxes greater than U.S.		0.1		0.7		0.7
Section 199 deduction		(2.2)		(1.7)		(0.8)
State rate change		0.3		—		—
Other		(0.7)		(0.6)		(0.7)
		35.4	%	36.3	%	37.2	%

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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