Property, Plant and Equipment

12 Months Ended

Oct. 31, 2022

Property, Plant and Equipment [Abstract]

Property, plant and equipment consists of the following at October 31 (in thousands):


	2022		2021
Land	$	87,617	$	95,868
Land improvements	37,221		35,440
Buildings and building improvements	37,929		48,565
Equipment	61,615		62,598
Orchards and vineyards	60,657		63,454
Construction in progress	28,489		22,477
	313,528		328,402
Less accumulated depreciation	(90,900)		(85,982)
	$	222,628	$	242,420

Depreciation expense was $9,075,000, $8,883,000 and $9,098,000 for fiscal years 2022, 2021 and 2020, respectively.

In August 2020, the Company sold property located in Lindsay, California. The Company received net proceeds of $6,011,000 after transaction and other costs, and recorded a loss of approximately $424,000, which is included in (gain) loss on disposal of assets in the consolidated statements of operations.

In October 2022, the Company sold the Oxnard Lemon property and packing facility located in Ventura County, California. The Company received net proceeds of $19,144,000 and recognized a gain of approximately $846,000, which is included in (gain) loss on disposal of assets in the consolidated statements of operations. Concurrent with the closing of the sale, the

4. Property, Plant and Equipment (continued)Company entered into a lease agreement to continue use of the property as a lessee for a period of 36 months from the closing date