XML 46 R34.htm IDEA: XBRL DOCUMENT v3.22.4

Income Taxes (Tables)

12 Months Ended

Oct. 31, 2022

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):

​

​	​	​	​	​	​	​	​	​	​	​
​		2022			2021			2020
​	​	​	​		​	​	​	​	​	​
Current:	​	​	​	​	​	​	​	​	​	​
Federal	​	$	2,012	​	$	(3,449)	​	$	(5,684)	​
State	​		147	​		323	​		(214)	​
Foreign	​		1,209	​		16,703	​		645	​
Total current	​		3,368	​		13,577	​		(5,253)	​
​	​	​	​	​	​	​	​	​	​	​
Deferred:	​	​	​	​	​	​	​	​	​	​
Federal	​		(162)	​		790	​		576	​
State	​		746	​		(343)	​		(505)	​
Foreign	​		(701)	​		(3,934)	​		260	​
Total deferred	​		(117)	​		(3,487)	​		331	​
Change in valuation allowance	​	​	—	​	​	657	​	​	630	​
Total income tax provision (benefit)	​	$	3,251	​	$	10,747	​	$	(4,292)	​

​

Significant Components of Deferred Taxes Assets (Liabilities)

Significant components of our deferred taxes assets (liabilities) as of October 31, are as follows (in thousands):

​

​	​	​	​	​	​	​	​
​		2022			2021
​	​	​	​	​	​	​	​
Property, plant, and equipment	​		(2,002)	​		(4,764)	​
Intangible assets	​		2,828	​		5,051	​
Unrealized gain, Limoneira investment	​		—	​		(1,138)	​
Stock-based compensation	​		715	​		511	​
State taxes	​		6	​		(498)	​
Credits and incentives	​		1,194	​		1,808	​
Allowance for accounts receivable	​	​	936	​	​	1,259	​
Inventories	​	​	442	​	​	507	​
Accrued liabilities	​	​	1,143	​	​	2,067	​
Operating lease - Right of use assets	​	​	(13,723)	​	​	(15,839)	​
Operating lease liabilities	​	​	14,861	​	​	17,040	​
Net operating loss	​	​	549	​	​	1,093	​
Valuation allowance	​	​	(1,830)	​	​	(1,291)	​
Capital loss carryover	​	​	804	​	​	—	​
Other	​		(490)	​		(490)	​
Long-term deferred income taxes	​	$	5,433	​	$	5,316	​

Reconciliation of effective tax rate

​

​	​	​	​	​	​	​	​
​		2022		2021		2020
​	​	​	​	​	​	​	​
Federal statutory tax rate		21.0	%	21.0	%	21.0	%
State taxes, net of federal effects		(1.3)	​	11.6	​	4.4	​
Rate differential on NOL carryback	​	—	​	125.8	​	6.2	​
Foreign income taxes greater than U.S.		5.2	​	16.1	​	(2.3)	​
Uncertain tax positions		5.1	​	(1,059.9)	​	—	​
Stock based compensation		(6.1)	​	(16.7)	​	—	​
Provision to return	​	(59.9)	​	39.2	​	(2.5)	​
State rate change		(2.5)	​	9.2	​	(0.1)	​
Valuation allowance	​	(24.2)	​	(44.1)	​	(2.7)	​
Other permanent differences	​	(33.8)	​	—	​	—	​
Other		(0.5)	​	(15.5)	​	(0.3)	​
​		(97.0)	%	(913.3)	%	23.7	%

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,
​	​	2022		​	2021
Beginning balance	​	$	11,303	​	$	72
Reductions based on tax positions related to prior periods	​	​	(172)	​	​	—
Gross increase - Tax positions in prior periods	​		—	​		131
Gross increase - Tax positions in current period	​		—	​		11,100
Ending balance	​	$	11,131	​	$	11,303

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration