Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Oct. 31, 2018

Financial Statements of Consignment Arrangements

Amounts recorded for each of the fiscal years ended October 31, 2018, 2017 and 2016 in the financial statements pursuant to consignment arrangements are as follows (in thousands):


	2018		2017		2016

Sales	$	43,490	$	25,891	$	34,919
Cost of Sales		38,186		22,784		30,729
Gross Profit	$	5,304	$	3,107	$	4,190

Schedule of basic and diluted net income per share

Basic and diluted net income per share is calculated as follows (U.S. dollars in thousands, except per share data):



	Year ended October 31,
	2018		2017		2016
Numerator:
Net Income attributable to Calavo Growers, Inc.	$	32,281	$	37,270	$	38,022
Denominator:
Weighted average shares - Basic		17,477		17,416		17,347
Effect on dilutive securities – Restricted stock/options		91		98		84
Weighted average shares - Diluted		17,568		17,514		17,431
Net income per share attributable to Calavo Growers, Inc:
Basic	$	1.85	$	2.14	$	2.19
Diluted	$	1.84	$	2.13	$	2.18

Reconciles Shareholders' Equity Attributable to Noncontrolling Interest

The following tables reconcile shareholders’ equity attributable to noncontrolling interest related to the Salsa Lisa acquisition, and Avocados de Jalisco (in thousands).


	Year ended		Year ended
Salsa Lisa noncontrolling interest	October 31, 2018		October 31, 2017

Noncontrolling interest, beginning	$	—	$	771
Purchase of noncontrolling interest of Salsa Lisa		—		(771)
Noncontrolling interest, ending	$	—	$	—

In March 2017, pursuant to the Amended and Restated Limited Liability Company Agreement dated February 8, 2010 entered into by Calavo Growers, Inc., Calavo Salsa Lisa LLC, Lisa’s Salsa Company, Elizabeth Nicholson and Eric Nicholson, we purchased the 35 percent ownership of Calavo Salsa Lisa not held by us for $1.0 million.


	Year ended		Year ended
Avocados de Jalisco noncontrolling interest	October 31, 2018		October 31, 2017

Noncontrolling interest, beginning	$	1,016	$	962
Noncash transfer of noncontrolling interest		1,001		—
Net income (loss) attributable to noncontrolling interest of Avocados de Jalisco		(269)		54
Noncontrolling interest, ending	$	1,748	$	1,016