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Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Oct. 31, 2019

Basis of Presentation and Significant Accounting Policies

Financial Statements of Consignment Arrangements

​

​	​	​	​	​	​	​	​	​	​	​
​		2019			2018			2017
​	​	​	​	​	​	​	​	​	​	​
Sales	​	$	64,510	​	$	43,490	​	$	25,891	​
Cost of Sales	​		57,061	​		38,186	​		22,784	​
Gross Profit	​	$	7,449	​	$	5,304	​	$	3,107	​

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,
​		2019			2018			2017
Numerator:	​	​	​	​	​	​	​	​	​
Net Income attributable to Calavo Growers, Inc.	​	$	36,646	​	$	32,281	​	$	37,270
Denominator:	​	​	​	​	​	​	​	​	​
Weighted average shares - Basic	​		17,519	​		17,477	​		17,416
Effect on dilutive securities – Restricted stock/options	​		74	​		91	​		98
Weighted average shares - Diluted	​		17,593	​		17,568	​		17,514
Net income per share attributable to Calavo Growers, Inc:	​	​	​	​	​	​	​	​	​
Basic	​	$	2.09	​	$	1.85	​	$	2.14
Diluted	​	$	2.08	​	$	1.84	​	$	2.13

Reconciles Shareholders' Equity Attributable to Noncontrolling Interest

The following tables reconcile shareholders’ equity attributable to noncontrolling interest related to Avocados de Jalisco (in thousands).

​

​	​	​	​	​	​	​	​	​
​			Year ended			Year ended
Avocados de Jalisco noncontrolling interest		​	October 31, 2019		​	October 31, 2018
​	​	​	​	​		​	​	​
Noncontrolling interest, beginning	​	​	$	1,748	​	$	1,016	​
Noncash transfer of noncontrolling interest	​	​		—	​		1,001	​
Net loss attributable to noncontrolling interest of Avocados de Jalisco	​	​		(60)	​		(269)	​
Noncontrolling interest, ending	​	​	$	1,688	​	$	1,748	​

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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