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Fair Value Measurements (Tables)
 12 Months Ended
Oct. 31, 2017
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured on Recurring and Non-Recurring Basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Level 1

    

Level 2

    

Level 3

    

Total

 

 

 

(All amounts are presented in thousands)

 

Assets at Fair Value:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment in Limoneira Company(1)

 

$

40,362

 

 

-

 

 

-

 

$

40,362

 

Total assets at fair value

 

$

40,362

 

 

-

 

 

-

 

$

40,362

 

 

(1)The investment in Limoneira Company consists of marketable securities in the Limoneira Company stock.  We currently own approximately 12% of Limoneira’s outstanding common stock.  These securities are measured at fair value by quoted market prices.  Limoneira’s stock price at October 31, 2017 and October 31, 2016 equaled $23.35 per share and $19.69 per share.  Unrealized gains and losses are recognized through other comprehensive income.  Unrealized investment holding gains arising during the years ended October 31, 2017 and 2016 were $6.3 million and $6.6 million.  Unrealized investment holding losses arising during the year ended October 31, 2015 was $16.9 million.