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Income Taxes (Tables) | 12 Months Ended
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Oct. 31, 2021
Income Taxes |
Summary of Income Tax Provision (Benefit) | The income tax provision (benefit) consists of the following for the years ended October 31, (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019 |
​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | (3,449) | ​ | $ | (5,684) | ​ | $ | 9,146 | ​
State | ​ |  | 323 | ​ |  | (214) | ​ |  | 2,516 | ​
Foreign | ​ |  | 16,703 | ​ |  | 645 | ​ |  | 290 | ​
Total current | ​ |  | 13,577 | ​ |  | (5,253) | ​ |  | 11,952 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | 790 | ​ |  | 576 | ​ |  | 516 | ​
State | ​ |  | (343) | ​ |  | (505) | ​ |  | 209 | ​
Foreign | ​ |  | (3,934) | ​ |  | 260 | ​ |  | 205 | ​
Total deferred | ​ |  | (3,487) | ​ |  | 331 | ​ |  | 930 | ​
Change in valuation allowance | ​ | ​ | 657 | ​ | ​ | 630 | ​ | ​ | — | ​
Total income tax provision (benefit) | ​ | $ | 10,747 | ​ | $ | (4,292) | ​ | $ | 12,882 | ​
​
Significant Components of Deferred Taxes Assets (Liabilities) | Significant components of our deferred taxes assets (liabilities) as of October 31, are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Property, plant, and equipment | ​ |  | (4,764) | ​ |  | (11,552) | ​
Intangible assets | ​ |  | 5,051 | ​ |  | 6,861 | ​
Unrealized gain, Limoneira investment | ​ |  | (1,138) | ​ |  | (116) | ​
Investment in FreshRealm | ​ |  | — | ​ |  | 1,096 | ​
Stock-based compensation | ​ |  | 511 | ​ |  | 812 | ​
State taxes | ​ |  | (498) | ​ |  | (592) | ​
Credits and incentives | ​ |  | 1,808 | ​ |  | 1,345 | ​
Allowance for accounts receivable | ​ | ​ | 1,259 | ​ | ​ | 1,165 | ​
Inventories | ​ | ​ | 507 | ​ | ​ | 864 | ​
Accrued liabilities | ​ | ​ | 2,067 | ​ | ​ | 2,119 | ​
Operating lease - Right of use assets | ​ | ​ | (15,839) | ​ | ​ | (15,732) | ​
Operating lease liabilities | ​ | ​ | 17,040 | ​ | ​ | 16,895 | ​
Net operating loss | ​ | ​ | 1,093 | ​ | ​ | 369 | ​
Valuation allowance | ​ | ​ | (1,291) | ​ | ​ | (631) | ​
Other | ​ |  | (490) | ​ |  | (417) | ​
Long-term deferred income taxes | ​ | $ | 5,316 | ​ | $ | 2,486 | ​
Reconciliation of effective tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal statutory tax rate |  | 21.0 | % | 21.0 | % | 21.0 | %
State taxes, net of federal effects |  | 11.6 | ​ | 4.4 | ​ | 3.7 | ​
Rate differential on NOL carryback | ​ | 125.8 | ​ | 6.2 | ​ | — | ​
Foreign income tax rate differential |  | 16.1 | ​ | (2.3) | ​ | 0.4 | ​
Mexican tax assessments |  | (1,059.9) | ​ | — | ​ | — | ​
Stock based compensation |  | (16.7) | ​ | — | ​ | — | ​
Provision to return | ​ | 39.2 | ​ | (2.5) | ​ | 0.7 | ​
State rate change |  | 9.2 | ​ | (0.1) | ​ | (0.2) | ​
Valuation allowance | ​ | (44.1) | ​ | (2.7) | ​ | — | ​
Other |  | (15.5) | ​ | (0.3) | ​ | 0.4 | ​
​ |  | (913.3) | % | 23.7 | % | 26.0 | %
Reconciliation of unrecognized taxes | A reconciliation of the beginning and ending amount of gross unrecognized taxes (exclusive of interest and penalties) was as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended October 31,
​ | ​ | 2021 | ​ | 2020
Beginning balance | ​ | $ | 72 | ​ | $ | 72
Gross increase - Tax positions in prior periods | ​ |  | 131 | ​ |  | —
Gross increase - Tax positions in current period | ​ |  | 11,100 | ​ |  | —
Ending balance | ​ | $ | 11,303 | ​ | $ | 72

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