XML 38 R27.htm IDEA: XBRL DOCUMENT v3.20.4
Segment Information
3 Months Ended
Jan. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in four reportable operating segments: fresh lemons, lemon packing, avocados and other agribusiness. The reportable operating segments of the Company are strategic business units with different products and services, distribution processes and customer bases. The fresh lemons segment includes sales, farming and harvesting expenses and third-party grower costs relative to fresh lemons. The lemon packing segment includes packing revenues and shipping and handling revenues relative to lemon packing. The lemon packing segment expenses are comprised of lemon packing costs. The lemon packing segment revenues include intersegment revenues between fresh lemons and lemon packing. The intersegment revenues are included gross in the segment note and a separate line item is shown as an elimination. The avocados segment includes sales, farming and harvest costs. The other agribusiness segment includes sales, farming and harvest costs of oranges, specialty citrus and other crops.

Revenues related to rental operations are included in “Corporate and Other.” Other agribusiness revenues consist of oranges of $1,091,000 and specialty citrus and other crops of $1,849,000 for the three months ended January 31, 2021 and oranges of $2,272,000 and specialty citrus and other crops of $1,892,000 for the three months ended January 31, 2020.

The Company does not separately allocate depreciation and amortization to its fresh lemons, lemon packing, avocados and other agribusiness segments. No asset information is provided for reportable operating segments, as these specified amounts are not included in the measure of segment profit or loss reviewed by the Company’s chief operating decision maker. The Company measures operating performance, including revenues and operating income, of its operating segments and allocates resources based on its evaluation. The Company does not allocate selling, general and administrative expense, total other income (expense) and income taxes, or specifically identify them to its operating segments. The Company earns packing revenue for packing lemons grown on its orchards and lemons procured from third-party growers. Intersegment revenues represent packing revenues related to lemons grown on the Company’s orchards.

Segment information for the three months ended January 31, 2021 (in thousands):
 Fresh
Lemons
Lemon
Packing
Eliminations 
Avocados
Other
Agribusiness
Total
Agribusiness
Corporate
and Other
Total
Revenues from external customers$29,300 $4,897 $— $— $2,940 $37,137 $1,138 $38,275 
Intersegment revenue— 6,685 (6,685)— — — — — 
Total net revenues29,300 11,582 (6,685)— 2,940 37,137 1,138 38,275 
Costs and expenses29,507 9,531 (6,685)— 2,373 34,726 6,688 41,414 
Depreciation and amortization— — — — — 2,212 289 2,501 
Operating (loss) income$(207)$2,051 $— $— $567 $199 $(5,839)$(5,640)

Segment information for the three months ended January 31, 2020 (in thousands):
 Fresh
Lemons
Lemon
Packing
Eliminations 
Avocados
Other
Agribusiness
Total
Agribusiness
Corporate
and Other
Total
Revenues from external customers$32,057 $4,094 $— $168 $4,164 $40,483 $1,173 $41,656 
Intersegment revenue— 7,105 (7,105)— — — — — 
Total net revenues32,057 11,199 (7,105)168 4,164 40,483 1,173 41,656 
Costs and expenses34,351 8,609 (7,105)473 3,931 40,259 7,298 47,557 
Depreciation and amortization— — — — — 2,284 281 2,565 
Operating (loss) income$(2,294)$2,590 $— $(305)$233 $(2,060)$(6,406)$(8,466)