Fair Value Measurements (Tables)

9 Months Ended

Jul. 31, 2020

Financial Assets Measured on a Recurring Basis


	Level 1		Level 2		Level 3		Total

	(All amounts are presented in thousands)
Assets at Fair Value at July 31, 2020:
Investment in Limoneira Company⁽¹⁾	$	22,610		-		-	$	22,610
Total assets at fair value	$	22,610		-		-	$	22,610

Assets at Fair Value at October 31, 2019:
Investment in Limoneira Company⁽¹⁾	$	31,734		-		-	$	31,734
Total assets at fair value	$	31,734		-		-	$	31,734

(1) The investment in Limoneira Company consists of marketable securities in the Limoneira Company common stock. We currently own less than 10% of Limoneira’s outstanding common stock. These securities are measured at fair value using quoted market prices. For the three months ended July 31, 2020 and 2019, we recognized gains of $0.2 million and losses of $5.1 million on the consolidated condensed statement of income. For the nine months ended July 31, 2020 and 2019, we recognized losses of $9.1 million and $8.2 million on the consolidated condensed statement of income.