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Information regarding our operations in different segments | 6 Months Ended
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Apr. 30, 2021
Information regarding our operations in different segments |
Information regarding our operations in different segments | 2. Information regarding our operations in different segments ​ We report our operations in three different business segments: (1) Fresh products, (2) RFG, and (3) Calavo Foods. These three business segments are presented based on how information is used by our Chief Executive Officer to measure performance and allocate resources. The Fresh products segment includes operations that involve the distribution of avocados and other fresh produce products. The RFG segment represents operations related to the manufacturing and distribution of fresh-cut fruit, fresh-cut vegetables, and prepared foods. The Calavo Foods segment represents operations related to the purchase, manufacturing, and distribution of prepared avocado products, including guacamole, and salsa. Selling, general and administrative expenses, as well as other non-operating income/expense items, are evaluated by our Chief Executive Officer in the aggregate. We do not allocate assets, or specifically identify them to, our operating segments. The Sales Data in the following tables is presented in thousands: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended April 30, 2021 | ​ | Three months ended April 30, 2020 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fresh |  | ​ |  | Calavo |  | ​ | ​ |  | Fresh |  | ​ |  | Calavo |  | ​ | ​ | ​
​ | ​ | products | ​ | RFG | ​ | Foods | ​ | Total | ​ | products | ​ | RFG | ​ | Foods | ​ | Total | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Avocados | ​ | $ | 146,359 | ​ | $ | — | ​ | $ | — | ​ | $ | 146,359 | ​ | $ | 149,865 | ​ | $ | — | ​ | $ | — | ​ | $ | 149,865 | ​
Tomatoes | ​ |  | 13,433 | ​ |  | — | ​ |  | — | ​ |  | 13,433 | ​ |  | 19,331 | ​ |  | — | ​ |  | — | ​ |  | 19,331 | ​
Papayas | ​ |  | 2,647 | ​ |  | — | ​ |  | — | ​ |  | 2,647 | ​ |  | 2,363 | ​ |  | — | ​ |  | — | ​ |  | 2,363 | ​
Other fresh income | ​ |  | 126 | ​ |  | — | ​ |  | — | ​ |  | 126 | ​ |  | 112 | ​ |  | — | ​ |  | — | ​ |  | 112 | ​
Prepared avocado products | ​ |  | — | ​ |  | — | ​ |  | 20,915 | ​ |  | 20,915 | ​ |  | — | ​ |  | — | ​ |  | 19,118 | ​ |  | 19,118 | ​
Salsa | ​ |  | — | ​ |  | — | ​ |  | 696 | ​ |  | 696 | ​ |  | — | ​ |  | — | ​ |  | 609 | ​ |  | 609 | ​
Fresh-cut fruit & veg. and prepared foods | ​ | ​ | — | ​ | ​ | 97,011 | ​ | ​ | — | ​ | ​ | 97,011 | ​ | ​ | — | ​ | ​ | 94,186 | ​ | ​ | — | ​ | ​ | 94,186 | ​
Total gross sales | ​ |  | 162,565 | ​ |  | 97,011 | ​ |  | 21,611 | ​ |  | 281,187 | ​ |  | 171,671 | ​ |  | 94,186 | ​ |  | 19,727 | ​ |  | 285,584 | ​
Less sales incentives | ​ |  | (879) | ​ |  | (722) | ​ |  | (875) | ​ |  | (2,476) | ​ |  | (803) | ​ |  | (657) | ​ |  | (1,874) | ​ |  | (3,334) | ​
Less inter-company eliminations | ​ | ​ | (717) | ​ | ​ | — | ​ | ​ | (1,173) | ​ | ​ | (1,890) | ​ | ​ | (234) | ​ | ​ | — | ​ | ​ | (850) | ​ | ​ | (1,084) | ​
Net sales | ​ | $ | 160,969 | ​ | $ | 96,289 | ​ | $ | 19,563 | ​ | $ | 276,821 | ​ | $ | 170,634 | ​ | $ | 93,529 | ​ | $ | 17,003 | ​ | $ | 281,166 | ​
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended April 30, 2021 | ​ | Six months ended April 30, 2020 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fresh |  | ​ |  | Calavo |  | ​ | ​ |  | Fresh |  | ​ |  | Calavo |  | ​ | ​ | ​
​ | ​ | products | ​ | RFG | ​ | Foods | ​ | Total | ​ | products | ​ | RFG | ​ | Foods | ​ | Total | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Avocados | ​ | $ | 250,130 | ​ | $ | — | ​ | $ | — | ​ | $ | 250,130 | ​ | $ | 267,749 | ​ | $ | — | ​ | $ | — | ​ | $ | 267,749 | ​
Tomatoes | ​ |  | 22,619 | ​ |  | — | ​ |  | — | ​ |  | 22,619 | ​ |  | 32,324 | ​ |  | — | ​ |  | — | ​ |  | 32,324 | ​
Papayas | ​ |  | 5,397 | ​ |  | — | ​ |  | — | ​ |  | 5,397 | ​ |  | 5,007 | ​ |  | — | ​ |  | — | ​ |  | 5,007 | ​
Other fresh income | ​ |  | 454 | ​ |  | — | ​ |  | — | ​ |  | 454 | ​ |  | 237 | ​ |  | — | ​ |  | — | ​ |  | 237 | ​
Prepared avocado products | ​ |  | — | ​ |  | — | ​ |  | 37,753 | ​ |  | 37,753 | ​ |  | — | ​ |  | — | ​ |  | 40,919 | ​ |  | 40,919 | ​
Salsa | ​ |  | — | ​ |  | — | ​ |  | 1,408 | ​ |  | 1,408 | ​ |  | — | ​ |  | — | ​ |  | 1,328 | ​ |  | 1,328 | ​
Fresh-cut fruit & veg. and prepared foods | ​ | ​ | — | ​ | ​ | 188,262 | ​ | ​ | — | ​ | ​ | 188,262 | ​ | ​ | — | ​ | ​ | 215,653 | ​ | ​ | — | ​ | ​ | 215,653 | ​
Total gross sales | ​ |  | 278,600 | ​ |  | 188,262 | ​ |  | 39,161 | ​ |  | 506,023 | ​ |  | 305,317 | ​ |  | 215,653 | ​ |  | 42,247 | ​ |  | 563,217 | ​
Less sales incentives | ​ |  | (1,455) | ​ |  | (1,667) | ​ |  | (1,967) | ​ |  | (5,089) | ​ |  | (1,259) | ​ |  | (1,190) | ​ |  | (3,910) | ​ |  | (6,359) | ​
Less inter-company eliminations | ​ | ​ | (1,243) | ​ | ​ | — | ​ | ​ | (2,292) | ​ | ​ | (3,535) | ​ | ​ | (700) | ​ | ​ | — | ​ | ​ | (1,642) | ​ | ​ | (2,342) | ​
Net sales | ​ | $ | 275,902 | ​ | $ | 186,595 | ​ | $ | 34,902 | ​ | $ | 497,399 | ​ | $ | 303,358 | ​ | $ | 214,463 | ​ | $ | 36,695 | ​ | $ | 554,516 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fresh |  | ​ |  | Calavo |  | Interco. |  | ​ | ​ | ​
​ | ​ | products | ​ | RFG | ​ | Foods | ​ | Elimins. | ​ | Total | ​
​ | ​ | (All amounts are presented in thousands) | ​
Three months ended April 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 161,686 | ​ | $ | 96,289 | ​ | $ | 20,736 | ​ | $ | (1,890) | ​ | $ | 276,821 | ​
Cost of sales | ​ | ​ | 146,678 | ​ | ​ | 94,001 | ​ | ​ | 15,432 | ​ | ​ | (1,890) | ​ | ​ | 254,221 | ​
Gross profit | ​ | $ | 15,008 | ​ | $ | 2,288 | ​ | $ | 5,304 | ​ | $ | — | ​ | $ | 22,600 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three months ended April 30, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 170,868 | ​ | $ | 93,529 | ​ | $ | 17,853 | ​ | $ | (1,084) | ​ | $ | 281,166 | ​
Cost of sales | ​ | ​ | 156,463 | ​ | ​ | 90,793 | ​ | ​ | 12,919 | ​ | ​ | (1,084) | ​ | ​ | 259,091 | ​
Gross profit | ​ | $ | 14,405 | ​ | $ | 2,736 | ​ | $ | 4,934 | ​ | $ | — | ​ | $ | 22,075 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six months ended April 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 277,145 | ​ | $ | 186,595 | ​ | $ | 37,194 | ​ | $ | (3,535) | ​ | $ | 497,399 | ​
Cost of sales | ​ | ​ | 248,992 | ​ | ​ | 184,329 | ​ | ​ | 27,174 | ​ | ​ | (3,535) | ​ |  | 456,960 | ​
Gross profit | ​ | $ | 28,153 | ​ | $ | 2,266 | ​ | $ | 10,020 | ​ | $ | — | ​ | $ | 40,439 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six months ended April 30, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 304,058 | ​ | $ | 214,463 | ​ | $ | 38,337 | ​ | $ | (2,342) | ​ | $ | 554,516 | ​
Cost of sales | ​ | ​ | 283,071 | ​ | ​ | 208,853 | ​ | ​ | 27,051 | ​ | ​ | (2,342) | ​ | ​ | 516,633 | ​
Gross profit | ​ | $ | 20,987 | ​ | $ | 5,610 | ​ | $ | 11,286 | ​ | $ | — | ​ | $ | 37,883 | ​
​ For the three months ended April 30, 2021 and 2020, intercompany sales and cost of sales of $0.7 million and $0.2 million between Fresh products and RFG were eliminated. For the six months ended April 30, 2021 and 2020, intercompany sales and cost of sales of $1.2 million and $0.7 million between Fresh products and RFG were eliminated. For the three months ended April 30, 2021 and 2020, intercompany sales and cost of sales of $1.2 million and $0.8 million between Calavo Foods and RFG were eliminated. For the six months ended April 30, 2021 and 2020, intercompany sales and cost of sales of $2.3 million and $1.6 million between Calavo Foods and RFG were eliminated. ​ Sales to customers outside the U.S. were approximately $8.8 million, and $5.8 million for the three months ended April 30, 2021 and 2020. Sales to customers outside the U.S. were approximately $16.9 million, and $15.4 million for the six months ended April 30, 2021 and 2020. ​ Our foreign operations in Mexico are subject to exchange rate fluctuations and foreign currency transaction costs. The functional currency of our foreign subsidiaries in Mexico is the United States dollar (U.S. dollar). As a result, monetary assets and liabilities are translated into U.S. dollars at exchange rates as of the balance sheet date and non-monetary assets, liabilities and equity are translated at historical rates. Sales and expenses are translated using a weighted-average exchange rate for the period. Gains and losses resulting from those remeasurements and foreign currency transactions are recognized within cost of sales. We recognized foreign currency remeasurement losses in the current quarter. These losses were due primarily to certain long-term net peso receivables. The Mexican peso strengthened compared to the U.S. dollar from 20.22 (MX peso to U.S. dollar) at January 31, 2021 to 20.18 (MX peso to U.S. dollar) at April 30, 2021. Foreign currency remeasurement losses, net of gains, for the three months ended April 30, 2021 and 2020 was $0.5 million and $3.4 million. Foreign currency remeasurement gains, net of losses, for the six months ended April 30, 2021 was $0.6 million. Foreign currency remeasurement losses, net of gains, for the six months ended April 30, 2020 was $3.3 million. ​ Long-lived assets attributed to geographic areas as of April 30, 2021 and October 31, 2020, are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | United States |  | Mexico |  | Consolidated
April 30, 2021 | ​ | $ | 92,668 | ​ | $ | 38,119 | ​ | $ | 130,787
October 31, 2020 | ​ | $ | 95,110 | ​ | $ | 35,160 | ​ | $ | 130,270
​

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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