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v3.22.2.2

Related Party Transactions | 9 Months Ended
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Jul. 31, 2022
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions The Company has transactions with equity method investments and various related parties summarized in Note 6 - Equity in Investments and in the tables below (in thousands):
|  |  |  | July 31, 2022 |  | October 31, 2021
|  |  |  | Balance Sheet |  | Balance Sheet
Ref |  | Related Party |  | Receivable/Other from Related Parties |  | Other Assets |  | Payables to Related Parties |  | Other Long-Term Liabilities |  | Receivable/Other from Related Parties |  | Other Assets |  | Payables to Related Parties |  | Other Long-Term Liabilities
2 |  |  | Mutual water companies |  | $ | — |  |  | $ | 494 |  |  | $ | 54 |  |  | $ | — |  |  | $ | — |  |  | $ | 432 |  |  | $ | 40 |  |  | $ | — |
3 |  |  | Cooperative association |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 19 |  |  | $ | — |
5 |  |  | Cadiz / Fenner / WAM |  | $ | — |  |  | $ | 1,308 |  |  | $ | 572 |  |  | $ | 1,219 |  |  | $ | — |  |  | $ | 1,386 |  |  | $ | 273 |  |  | $ | 1,297 |
8 |  |  | FGF |  | $ | 3,380 |  |  | $ | 2,653 |  |  | $ | 832 |  |  | $ | — |  |  | $ | 4,598 |  |  | $ | 980 |  |  | $ | 832 |  |  | $ | — |
9 |  |  | LLCB |  | $ | — |  |  | $ | — |  |  | $ | 5,771 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,771 |  |  | $ | — |
11 |  |  | Third-party growers |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 41 |  |  | $ | — |
|  |  |  | Three Months Ended July 31, 2022 |  | Three Months Ended July 31, 2021
|  |  |  | Consolidated Statement of Operations |  |  |  | Consolidated Statement of Operations |  |
Ref |  | Related Party |  | Net Revenue Agribusiness |  | Net Revenue Rental Operations |  | Agribusiness Expense and Other |  |  |  | Dividends Paid |  | Net Revenue Agribusiness |  | Net Revenue Rental Operations |  | Agribusiness Expense and Other |  |  |  | Dividends Paid
1 |  |  | Employees |  | $ | — |  |  | $ | 220 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 204 |  |  | $ | — |  |  |  |  | $ | — |
2 |  |  | Mutual water companies |  | $ | — |  |  | $ | — |  |  | $ | 481 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 274 |  |  |  |  | $ | — |
3 |  |  | Cooperative association |  | $ | — |  |  | $ | — |  |  | $ | 585 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 652 |  |  |  |  | $ | — |
4 |  |  | Calavo |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 4,036 |  |  | $ | 80 |  |  | $ | 408 |  |  |  |  | $ | 126 |
5 |  |  | Cadiz / Fenner / WAM |  | $ | — |  |  | $ | — |  |  | $ | 895 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 36 |  |  |  |  | $ | — |
8 |  |  | FGF |  | $ | 83 |  |  | $ | 86 |  |  | $ | 2 |  |  |  |  | $ | — |  |  | $ | 710 |  |  | $ | — |  |  | $ | 1,761 |  |  |  |  | $ | — |
10 |  |  | Freska |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 23 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |
11 |  |  | Third-party growers |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 16 |  |  |  |  | $ | — |
|  |  |  | Nine Months Ended July 31, 2022 |  | Nine Months Ended July 31, 2021
|  |  |  | Consolidated Statement of Operations |  |  |  | Consolidated Statement of Operations |  |
Ref |  | Related Party |  | Net Revenue Agribusiness |  | Net Revenue Rental Operations |  | Agribusiness Expense and Other |  |  |  | Dividends Paid |  | Net Revenue Agribusiness |  | Net Revenue Rental Operations |  | Agribusiness Expense and Other |  |  |  | Dividends Paid
1 |  |  | Employees |  | $ | — |  |  | $ | 650 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 608 |  |  | $ | — |  |  |  |  | $ | — |
2 |  |  | Mutual water companies |  | $ | — |  |  | $ | — |  |  | $ | 975 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 879 |  |  |  |  | $ | — |
3 |  |  | Cooperative association |  | $ | — |  |  | $ | — |  |  | $ | 1,369 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,178 |  |  |  |  | $ | — |
4 |  |  | Calavo |  | $ | — |  |  | $ | 80 |  |  | $ | 2 |  |  |  |  | $ | 126 |  |  | $ | 6,589 |  |  | $ | 237 |  |  | $ | 688 |  |  |  |  | $ | 377 |
5 |  |  | Cadiz / Fenner / WAM |  | $ | — |  |  | $ | — |  |  | $ | 2,084 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 271 |  |  |  |  | $ | — |
6 |  |  | Colorado River Growers |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 157 |  |  | $ | — |  |  | $ | 2,772 |  |  |  |  | $ | — |
7 |  |  | YMIDD |  | $ | — |  |  | $ | — |  |  | $ | 76 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 62 |  |  |  |  | $ | — |
8 |  |  | FGF |  | $ | 248 |  |  | $ | 257 |  |  | $ | 2 |  |  |  |  | $ | — |  |  | $ | 3,265 |  |  | $ | — |  |  | $ | 2,989 |  |  |  |  | $ | — |
10 |  |  | Freska |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 119 |  |  | $ | — |  |  | $ | 142 |  |  |  |  | $ | — |
11 |  |  | Third-party growers |  | $ | 104 |  |  | $ | — |  |  | $ | 12 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 132 |  |  |  |  | $ | — |
(1) Employees - The Company rents certain of its residential housing assets to employees on a month-to-month basis and recorded rental income from employees. There were no material rental payments due from employees at July 31, 2022 or October 31, 2021. (2) Mutual water companies - The Company has representation on the boards of directors of the mutual water companies in which the Company has investments, as well as other water districts. Refer to Note 8 - Other Assets. The Company recorded capital contributions, purchased water and water delivery services and had water payments due to the mutual water companies and districts. 13. Related Party Transactions (continued) (3) Cooperative association - The Company has representation on the board of directors of a non-profit cooperative association that provides pest control services for the agricultural industry. The Company purchased services and supplies from and had payments due to the cooperative association. (4) Calavo - Through January 2022, the Company had representation on the board of directors of Calavo. Calavo owns common stock of the Company and the Company pays dividends on such common stock to Calavo. Additionally, the Company leases office space to Calavo. As of February 2022, Calavo is no longer a related party. (5) Cadiz / Fenner / WAM - A member of the Company’s board of directors serves as the CEO, President and a member of the board of directors of Cadiz, Inc. In 2013, the Company entered a long-term lease agreement (the “Lease”) with Cadiz Real Estate, LLC (“Cadiz”), a wholly owned subsidiary of Cadiz, Inc., and currently leases 670 acres located in eastern San Bernardino County, California. The annual base rental is equal to the sum of $200 per planted acre and 20% of gross revenues from the sale of harvested lemons (less operating expenses), not to exceed $1,200 per acre per year. In 2016, Cadiz assigned this lease to Fenner Valley Farms, LLC (“Fenner”), a subsidiary of Water Asset Management, LLC (“WAM”). An affiliate of WAM is the holder of 9,300 shares of the Company's Series B-2 convertible preferred stock. Upon the adoption of ASC 842, the Company recorded a right-of-use, or ROU, asset and corresponding lease liability. (6) Colorado River Growers, Inc. (“CRG”) - The Company had representation on the board of directors of CRG, a non-profit cooperative association of fruit growers engaged in the agricultural harvesting business in Yuma County, Arizona. CRG was dissolved in August 2021. The Company paid harvest expense to CRG and provided harvest management and administrative services to CRG. (7) Yuma Mesa Irrigation and Drainage District (“YMIDD”) - The Company has representation on the board of directors of YMIDD. The Company purchased water from YMIDD and had immaterial amounts payable to them for such purchases. (8) FGF - The Company advances funds to FGF for fruit purchases, which are recorded as an asset until the sales occur and the remaining proceeds become due to FGF. Additionally, FGF provided farming, packing, by-product processing and administrative services to Trapani Fresh. The Company had a receivable from FGF for lemon sales and the sale of packing supplies and a payable due to FGF for fruit purchases and services. The Company records revenue related to the licensing of intangible assets to FGF. Effective November 1, 2021, the Company leases Finca Santa Clara to FGF and records rental revenue related to the leased land. (9) LLCB - Refer to Note 5 - Real Estate Development. (10) Freska - A former member of the Company's board of directors is a majority shareholder of Freska Produce International, LLC ("Freska"). The Company had avocado sales to Freska and corresponding receivables for such sales. The former board member resigned effective June 14, 2022 and Freska is no longer a related party. (11) Third-party growers - A former member of the Company's board of directors markets lemons through the Company. The Company had payments due to the member for such lemon procurement. The former board member resigned effective June 14, 2022.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI https://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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