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Information regarding our operations in different segments
 3 Months Ended
Jan. 31, 2022
Information regarding our operations in different segments  
Information regarding our operations in different segments

2. Information regarding our operations in different segments

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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:

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Three months ended January 31, 2022

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Three months ended January 31, 2021

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Fresh

    

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Calavo

    

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Fresh

    

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Calavo

    

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products

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RFG

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Foods

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Total

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products

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RFG

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Foods

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Total

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Avocados

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$

150,505

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$

—

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$

—

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$

150,505

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$

103,858

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$

—

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$

—

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$

103,858

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Tomatoes

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9,987

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—

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—

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9,987

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9,187

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—

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—

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9,187

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Papayas

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3,040

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—

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—

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3,040

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2,751

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—

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—

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2,751

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Other fresh income

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25

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—

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—

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25

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326

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—

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—

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326

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Fresh-cut fruit

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—

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43,373

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—

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43,373

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—

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42,944

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—

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42,944

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Fresh-cut vegetables

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—

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28,086

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—

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28,086

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—

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29,589

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—

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29,589

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Prepared products

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—

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24,818

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18,409

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43,227

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—

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18,718

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16,838

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35,556

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Salsa

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—

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—

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421

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421

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—

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—

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712

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712

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Total gross sales

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163,557

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96,277

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18,830

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278,664

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116,122

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91,251

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17,550

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224,923

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Less sales allowances

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(972)

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(513)

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(1,702)

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(3,187)

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(663)

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(945)

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(1,092)

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(2,700)

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Less inter-company eliminations

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(603)

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—

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(782)

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(1,385)

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(526)

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—

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(1,119)

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(1,645)

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Net sales

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$

161,982

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$

95,764

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$

16,346

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$

274,092

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$

114,933

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$

90,306

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$

15,339

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$

220,578

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Fresh

    

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Calavo

    

Interco.

    

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products

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RFG

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Foods

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Elimins.

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Total

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(All amounts are presented in thousands)

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Three months ended January 31, 2022

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Net sales

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$

162,585

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$

95,764

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$

17,128

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$

(1,385)

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$

274,092

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Cost of sales

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150,919

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96,416

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14,914

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(1,385)

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260,864

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Gross profit (loss)

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$

11,666

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$

(652)

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$

2,214

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$

—

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$

13,228

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Three months ended January 31, 2021

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Net sales

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$

115,459

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$

90,306

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$

16,458

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$

(1,645)

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$

220,578

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Cost of sales

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102,314

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90,329

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11,741

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(1,645)

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202,739

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Gross profit (loss)

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$

13,145

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$

(23)

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$

4,717

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$

—

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$

17,839

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For the three months ended January 31, 2022 and 2021, intercompany sales and cost of sales of $0.6 million and $0.5 million between Fresh products and RFG were eliminated. For the three months ended January 31, 2022 and 2021, intercompany sales and cost of sales of $0.8 million and $1.1 million between Calavo Foods and RFG were eliminated.

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Sales to customers outside the U.S. were approximately $7.1 million, and $8.1 million for the three months ended January 31, 2022 and 2021.

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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. Foreign currency remeasurement losses, net of gains, for the three months ended January 31, 2022 was $0.6 million. Foreign currency remeasurement gains, net of losses, for the three months ended January 31, 2021 was $1.0 million.

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Long-lived assets attributed to geographic areas as of January 31, 2022 and October 31, 2021, are as follows (in thousands):

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United States

    

Mexico

    

Consolidated

January 31, 2022

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$

79,245

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$

36,789

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$

116,034

October 31, 2021

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$

81,059

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$

37,221

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$

118,280

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