XML 96 R9.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Apr. 30, 2020
Jan. 31, 2020
Apr. 30, 2019
Jan. 31, 2019
Apr. 30, 2020
Apr. 30, 2019
Oct. 31, 2019
Operating activities              
Net loss $ (5,306) $ (6,904) $ 2,820 $ (4,676) $ (12,210) $ (1,856)  
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:              
Depreciation and amortization 2,433   2,121   4,998 4,247  
Loss (gain) on disposals of assets         264 (11)  
Stock compensation expense         1,187 1,228  
Non-cash lease expense         228 0  
Equity in loss (earnings) of investments 371   (1,927)   491 (1,969)  
Cash distributions from equity investments         0 282  
Deferred income taxes         (6,641) (642)  
Accrued interest on notes receivable         (12) (92)  
Loss on stock in Calavo Growers, Inc. 4,275   (3,612)   6,299 298  
Changes in operating assets and liabilities:              
Accounts receivable         (2,953) (5,838)  
Cultural costs         3,001 2,608  
Prepaid expenses and other current assets         (4,620) (1,409)  
Income taxes receivable         0 378  
Other assets         80 (130)  
Accounts payable and growers payable         (3,841) 9,947  
Accrued liabilities         (2,360) (2,927)  
Other long-term liabilities         291 (96)  
Net cash (used in) provided by operating activities         (15,798) 4,018  
Investing activities              
Capital expenditures         (5,415) (8,151)  
Agriculture property acquisition         0 (397)  
Payments to FGF Trapani         0 (4,000)  
Net proceeds from sale of stock in Calavo Growers, Inc.         11,048 0  
Collections of installments on note receivable         0 150  
Equity investment contributions         (2,800) (4,000)  
Loan to Limoneira Lewis Community Builders, LLC         (1,800) 0  
Investments in mutual water companies         (51) (16)  
Insurance proceeds received         250 0  
Net cash provided by (used in) investing activities         1,232 (16,414)  
Financing activities              
Borrowings of long-term debt         71,275 58,340  
Repayments of long-term debt         (52,771) (41,844)  
Dividends paid – common         (2,679) (2,665)  
Dividends paid – preferred         (250) (251)  
Exchange of common stock         (213) (305)  
Net cash provided by financing activities         15,362 13,275  
Effect of exchange rate changes on cash         (148) 3  
Net increase in cash         648 882  
Cash at beginning of period   $ 616   $ 609 616 609 $ 609
Cash at end of period $ 1,264   $ 1,491   1,264 1,491 $ 616
Supplemental disclosures of cash flow information              
Cash paid during the period for interest, net of amounts capitalized         981 1,327  
Cash paid during the period for income taxes, net of refunds         0 130  
Non-cash investing and financing activities:              
Decrease in real estate development and sale-leaseback deferral         0 (58,330)  
Reclassification from real estate development to equity in investments         0 (33,353)  
Capital expenditures accrued but not paid at period-end         1,734 400  
Accrued contribution obligation of investment in water company         450 450  
Accrued Series B-2 Convertible Preferred Stock dividends         $ 31 $ 31