Fair Value Measurements (Tables)

12 Months Ended

Oct. 31, 2022

Financial assets measured on recurring basis


	Level 1		Level 2		Level 3		Total

	(All amounts are presented in thousands)

Assets at Fair Value at October 31, 2021:
Investment in Limoneira Company⁽¹⁾	$	27,055		—		—	$	27,055
Total assets at fair value	$	27,055		—		—	$	27,055

(1)

The investment in Limoneira Company consists of marketable securities in the Limoneira Company stock. These securities were measured at fair value by quoted market prices. Limoneira’s stock price at October 31, 2021 equaled $16.13 per share (level 1). Our remaining shares of Limoneira stock, totaling 1,677,299, were revalued to $16.13 per share and $13.83 per share at October 31, 2021 and 2020 and, as a result, we recorded a gain of $3.9 million for the year ended October 31, 2021 in our consolidated statements of operations.