Long-Term Debt (Tables)

12 Months Ended

Oct. 31, 2022

Schedule of Composition of Long-Term Debt

Long-term debt is comprised of the following at October 31 (in thousands):


	2022		2021
Farm Credit West revolving and non-revolving lines of credit: The interest rate of the revolving line of credit is variable based on the one-month London Interbank Offered Rate (“LIBOR”), which was 3.12% at October 31, 2022, plus 1.85%. The interest rate for the $40.0 million outstanding balance of the non-revolving line of credit was fixed at 4.77% through July 1, 2022, is 3.57% through July 1, 2025 and variable thereafter. Interest is payable monthly and the principal is due in full on July 1, 2026.	$	88,521	$	111,293
Farm Credit West term loan: The loan was repaid in September 2022.	—		809
Farm Credit West term loan: The interest rate is fixed at 3.24%. The loan is payable in monthly installments through October 2035.	919		974
Farm Credit West term loan: The interest rate is fixed at 3.24%. The loan is payable in monthly installments through March 2036.	7,562		8,004
Farm Credit West term loan: The interest rate is fixed at 2.77% until July 1, 2025, becoming variable for the remainder of the loan. The loan is payable in monthly installments through March 2036.	5,555		5,892
Farm Credit West term loan: The interest rate is fixed at 3.19%. The loan is payable in monthly installments through September 2026.	2,003		2,475
Banco de Chile term loan: The interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	675		1,011
Note Payable: The Note Payable was repaid in October 2022.	—		1,435
Banco de Chile COVID-19 loans: The interest rates are fixed at 3.48%. The loans are payable in monthly installments through September 2024.	233		411
Banco de Chile COVID-19 loans: The interest rates are fixed at 3.48% and 4.26%. The loans are payable in monthly installments through September 2026.	434		652
Subtotal	105,902		132,956
Less deferred financing costs, net of accumulated amortization	94		131
Total long-term debt, net	105,808		132,825
Less current portion	1,732		2,472
Long-term debt, less current portion	$	104,076	$	130,353

Schedule of Principal Payments on Long-Term Debt

Principal payments on the Company’s long-term debt are due as follows (in thousands):


2023	$	1,732
2024	1,758
2025	90,523
2026	1,452
2027	961
Thereafter	9,476
	$	105,902

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details