Equity in Investments

9 Months Ended

Jul. 31, 2021

Equity Method Investments and Joint Ventures [Abstract]

Equity in investments consist of the following (in thousands):


	July 31, 2021		October 31, 2020
Limoneira Lewis Community Builders, LLC	$	59,844	$	57,142
Limco Del Mar, Ltd.	2,027		1,920
Rosales	1,066		1,641
Romney Property Partnership	509		511
	$	63,446	$	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 period for the nine months ended July 31, 2021, this threshold was met for the Company's equity investment in LLCB.

The following is unaudited summarized financial information for LLCB (in thousands):


	Nine Months Ended July 31,
		2021		2020
Revenues		$	36,684	$	25,716
Cost of land sold		28,062		21,614
Operating expenses		634		848
Net income		$	7,988	$	3,254
Net income attributable to Limoneira Company		$	3,944	$	1,659