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Segment Information | 12 Months Ended
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Oct. 31, 2022
Segment Information |
Segment Information | 10. Segment Information ​ On April 13, 2022, the Company announced its plans to reorganize its business into two reporting segments, Grown and Prepared. The management transition to operate as Grown and Prepared began at the start of the third quarter of 2022. The Grown segment consists of fresh avocados, tomatoes and papayas. The Prepared segment comprises all other products including fresh-cut fruits and vegetables, ready-to-eat sandwiches, wraps, salads and snacks, guacamole, and salsa sold at retail and food service as well as avocado pulp sold to foodservice. ​ As a result of the Company's operating segment realignment, the composition of its reporting units for the evaluation of goodwill impairment was changed. RFG reporting unit goodwill is now included within the Prepared reporting unit. Therefore, the goodwill of $24.7 million, which was previously recorded within the RFG reporting unit, is now within Prepared and the goodwill previously reported as part of the Fresh segment remained unchanged in the amount of $4.0 million and is part of the Grown segment. Prior to the change in its reporting unit, the Company tested goodwill for impairment at the previous reporting unit, which did not result in any impairment charge. Goodwill impairment testing requires significant judgment and management estimates, including, but not limited to, the determination of (i) the number of reporting units, (ii) the goodwill and other assets and liabilities to be allocated to the reporting units and (iii) the fair values of the reporting units which includes forecasted cash flow. The fair value of the Company’s reporting units is determined using a combination of valuation techniques, including a discounted cash flow methodology. To corroborate the discounted cash flow analysis, a market approach is utilized using observable market data such as comparable companies in similar lines of business that are publicly traded. ​ These two business segments are presented based on how information is used by our Chief Executive Officer (our Chief Operating Decision Maker) to measure performance and allocate resources. 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. Prior year information has been recast to conform with the new segment disclosures. ​ The following table sets forth sales, cost of sales, and gross profit by segment (in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Interco. |  | ​ | ​ | ​
​ | ​ | Grown | ​ | Prepared | ​ | Elimins. | ​ | Total | ​
​ | ​ | (All amounts are presented in thousands) | ​
Year ended October 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 700,270 | ​ | $ | 492,868 | ​ | $ | (2,065) | ​ | $ | 1,191,073 | ​
Cost of sales | ​ | ​ | 650,105 | ​ | ​ | 469,188 | ​ | ​ | (2,065) | ​ | ​ | 1,117,228 | ​
Gross profit | ​ | $ | 50,165 | ​ | $ | 23,680 | ​ | $ | — | ​ | $ | 73,845 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended October 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 588,527 | ​ | $ | 469,800 | ​ | $ | (2,497) | ​ | $ | 1,055,830 | ​
Cost of sales | ​ | ​ | 540,740 | ​ | ​ | 460,162 | ​ | ​ | (2,497) | ​ | ​ | 998,405 | ​
Gross profit | ​ | $ | 47,787 | ​ | $ | 9,638 | ​ | $ | — | ​ | $ | 57,425 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended October 31, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 585,052 | ​ | $ | 475,970 | ​ | $ | (1,651) | ​ | $ | 1,059,371 | ​
Cost of sales | ​ | ​ | 537,489 | ​ | ​ | 433,635 | ​ | ​ | (1,651) | ​ | ​ | 969,473 | ​
Gross profit | ​ | $ | 47,563 | ​ | $ | 42,335 | ​ | $ | — | ​ | $ | 89,898 | ​
​ For fiscal year 2022, 2021 and 2020, inter-segment sales and cost of sales of $2.1 million, $2.5 million and $1.7 million between Grown and Prepared were eliminated. ​ The following table sets forth sales by product category, by segment (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended October 31, 2022 | ​ | Year ended October 31, 2021 | ​
​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​ |  | ​ | ​ | ​
​ | ​ | Grown | ​ | Prepared | ​ | Total | ​ | Grown | ​ | Prepared | ​ | Total | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Avocados | ​ | $ | 645,944 | ​ | $ | — | ​ | $ | 645,944 | ​ | $ | 536,969 | ​ | $ | — | ​ | $ | 536,969 | ​
Tomatoes | ​ |  | 47,288 | ​ |  | — | ​ |  | 47,288 | ​ |  | 43,658 | ​ |  | — | ​ |  | 43,658 | ​
Papayas | ​ |  | 11,422 | ​ |  | — | ​ |  | 11,422 | ​ |  | 10,884 | ​ |  | — | ​ |  | 10,884 | ​
Other fresh income | ​ |  | 123 | ​ |  | — | ​ |  | 123 | ​ |  | 693 | ​ |  | — | ​ |  | 693 | ​
Fresh-cut fruit | ​ | ​ | — | ​ | ​ | 204,433 | ​ | ​ | 204,433 | ​ | ​ | — | ​ | ​ | 205,087 | ​ | ​ | 205,087 | ​
Fresh-cut vegetables | ​ | ​ | — | ​ | ​ | 107,332 | ​ | ​ | 107,332 | ​ | ​ | — | ​ | ​ | 102,291 | ​ | ​ | 102,291 | ​
Prepared products | ​ |  | — | ​ |  | 114,396 | ​ |  | 114,396 | ​ |  | — | ​ |  | 95,639 | ​ |  | 95,639 | ​
Guacamole | ​ | ​ | — | ​ |  | 74,970 | ​ |  | 74,970 | ​ |  | — | ​ |  | 75,681 | ​ |  | 75,681 | ​
Salsa | ​ |  | — | ​ |  | 1,860 | ​ |  | 1,860 | ​ |  | — | ​ |  | 2,784 | ​ |  | 2,784 | ​
Total gross sales | ​ |  | 704,777 | ​ |  | 502,991 | ​ |  | 1,207,768 | ​ |  | 592,204 | ​ |  | 481,482 | ​ |  | 1,073,686 | ​
Less sales allowances | ​ |  | (4,507) | ​ |  | (10,123) | ​ |  | (14,630) | ​ |  | (3,677) | ​ |  | (11,682) | ​ |  | (15,359) | ​
Less inter-company eliminations | ​ | ​ | (2,065) | ​ | ​ | — | ​ | ​ | (2,065) | ​ | ​ | (2,497) | ​ | ​ | — | ​ | ​ | (2,497) | ​
Net sales | ​ | $ | 698,205 | ​ | $ | 492,868 | ​ | $ | 1,191,073 | ​ | $ | 586,030 | ​ | $ | 469,800 | ​ | $ | 1,055,830 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended October 31, 2021 | ​ | Year ended October 31, 2020 | ​
​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​ |  | ​ | ​ | ​
​ | ​ | Grown | ​ | Prepared | ​ | Total | ​ | Grown | ​ | Prepared | ​ | Total | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Avocados | ​ | $ | 536,969 | ​ | $ | — | ​ | $ | 536,969 | ​ | $ | 521,542 | ​ | $ | — | ​ | $ | 521,542 | ​
Tomatoes | ​ |  | 43,658 | ​ |  | — | ​ |  | 43,658 | ​ |  | 53,922 | ​ |  | — | ​ |  | 53,922 | ​
Papayas | ​ |  | 10,884 | ​ |  | — | ​ |  | 10,884 | ​ |  | 10,529 | ​ |  | — | ​ |  | 10,529 | ​
Other fresh income | ​ |  | 693 | ​ |  | — | ​ |  | 693 | ​ |  | 327 | ​ |  | — | ​ |  | 327 | ​
Fresh-cut fruit | ​ | ​ | — | ​ | ​ | 205,087 | ​ | ​ | 205,087 | ​ | ​ | — | ​ | ​ | 204,766 | ​ | ​ | 204,766 | ​
Fresh-cut vegetables | ​ |  | — | ​ |  | 102,291 | ​ |  | 102,291 | ​ |  | — | ​ |  | 113,460 | ​ |  | 113,460 | ​
Prepared products | ​ | ​ | — | ​ | ​ | 95,639 | ​ | ​ | 95,639 | ​ | ​ | — | ​ | ​ | 88,346 | ​ | ​ | 88,346 | ​
Guacamole | ​ | ​ | — | ​ | ​ | 75,681 | ​ | ​ | 75,681 | ​ | ​ | — | ​ | ​ | 75,409 | ​ | ​ | 75,409 | ​
Salsa | ​ |  | — | ​ |  | 2,784 | ​ |  | 2,784 | ​ |  | — | ​ |  | 2,783 | ​ |  | 2,783 | ​
Total gross sales | ​ |  | 592,204 | ​ |  | 481,482 | ​ |  | 1,073,686 | ​ |  | 586,320 | ​ |  | 484,764 | ​ |  | 1,071,084 | ​
Less sales allowances | ​ |  | (3,677) | ​ |  | (11,682) | ​ |  | (15,359) | ​ |  | (1,268) | ​ |  | (8,794) | ​ |  | (10,062) | ​
Less inter-company eliminations | ​ | ​ | (2,497) | ​ | ​ | — | ​ | ​ | (2,497) | ​ | ​ | (1,651) | ​ | ​ | — | ​ | ​ | (1,651) | ​
Net sales | ​ | $ | 586,030 | ​ | $ | 469,800 | ​ | $ | 1,055,830 | ​ | $ | 583,401 | ​ | $ | 475,970 | ​ | $ | 1,059,371 | ​
​ Sales to customers outside the U.S. were approximately $27.8 million, $34.8 million and $29.7 million for fiscal years 2022, 2021, and 2020. ​ Prepared segment sales included sales to one customer who represented more than 10% of total consolidated revenues for fiscal 2022, 2021 and 2020. Additionally, the Grown products segment had sales to one customer that represented more than 10% of total consolidated revenues for fiscal 2021 and 2020. ​ Our goodwill balance of $28.7 million is attributed by segment to Grown for $4.0 million and Prepared for $24.7 million as of October 31, 2022 and 2021. ​ Long-lived assets attributed to geographic areas as of October 31, are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | United States |  | Mexico |  | Consolidated
October 31, 2022 | ​ | $ | 77,208 | ​ | $ | 36,102 | ​ | $ | 113,310
October 31, 2021 | ​ | $ | 81,059 | ​ | $ | 37,221 | ​ | $ | 118,280
​

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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