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Equity in Investments | 6 Months Ended
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Apr. 30, 2021
Equity Method Investments and Joint Ventures [Abstract] |
Equity in Investments | Equity in Investments Equity in investments consist of the following (in thousands):
| April 30, 2021 |  | October 31, 2020
Limoneira Lewis Community Builders, LLC | $ | 58,475 |  |  | $ | 57,142 |
Limco Del Mar, Ltd. | 1,936 |  |  | 1,920 |
Rosales | 1,303 |  |  | 1,641 |
Romney Property Partnership | 509 |  |  | 511 |
| $ | 62,223 |  |  | $ | 61,214 |
Unconsolidated Significant Subsidiary In accordance with Rule 10-01(b)(1) of Regulation S-X, which applies to interim reports on Form 10-Q, the Company must determine if its equity method investees are considered “significant subsidiaries." In evaluating its investments, there are two tests utilized to determine if equity method investees are considered significant subsidiaries: the income test and the investment test. Summarized income statement information of an equity method investee is required in an interim report if either of the two tests exceed 20% in the interim periods presented. During the year-to-date interim periods for the six months ended April 30, 2021 and 2020, this threshold was met for the Company's equity investment in LLCB. The following is unaudited summarized financial information for LLCB (in thousands):
|  |  | Six Months Ended April 30,
|  |  |  |  | 2021 |  | 2020
Revenues |  |  |  |  | $ | 19,827 |  |  | $ | 4,768 |
Cost of land sold |  |  |  |  | 15,336 |  |  | 3,975 |
Operating expenses |  |  |  |  | 467 |  |  | 649 |
Net income |  |  |  |  | $ | 4,024 |  |  | $ | 144 |
Net income attributable to Limoneira Company |  |  |  |  | $ | 2,005 |  |  | $ | 132 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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