XML 41 R28.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Information
 3 Months Ended
Jan. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in four reportable operating segments: fresh lemons, lemon packing, avocados and other agribusiness. The reportable operating segments of the Company are strategic business units with different products and services, distribution processes and customer bases. The fresh lemons segment includes sales, farming and harvest costs and third-party grower and supplier costs relative to fresh lemons. The lemon packing segment includes packing revenues and shipping and handling revenues relative to lemon packing. The lemon packing segment expenses are comprised of lemon packing costs. The lemon packing segment revenues include intersegment revenues between fresh lemons and lemon packing. The intersegment revenues are included gross in the segment note and a separate line item is shown as an elimination. The avocados segment includes sales, farming and harvest costs. The other agribusiness segment includes sales, farming and harvest costs and brokered fruit costs of oranges, specialty citrus and other crops.
Revenues related to rental operations are included in “Corporate and Other.” Other agribusiness revenues consisted of oranges of $1,152,000 and specialty citrus and other crops of $1,247,000 for the three months ended January 31, 2023. Other agribusiness revenues consisted of oranges of $873,000 and specialty citrus and other crops of $876,000 for the three months ended January 31, 2022.
The Company does not separately allocate depreciation and amortization to its fresh lemons, lemon packing, avocados and other agribusiness segments. No asset information is provided for reportable operating segments, as these specified amounts are not included in the measure of segment profit or loss reviewed by the Company’s chief operating decision maker. The Company measures operating performance, including revenues and operating income, of its operating segments and allocates resources based on its evaluation. The Company does not allocate selling, general and administrative expense, gain on disposal of assets, total other income (expense) and income taxes, or specifically identify them to its operating segments. The Company earns packing revenue for packing lemons grown on its orchards and lemons procured from third-party growers. Intersegment revenues represent packing revenues related to lemons grown on the Company’s orchards.
Segment information for the three months ended January 31, 2023 (in thousands):
 Fresh
Lemons		Lemon
Packing		Eliminations 
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$28,481 $5,648 $— $— $2,399 $36,528 $1,373 $37,901 
Intersegment revenue— 7,363 (7,363)— — — — — 
Total net revenues28,481 13,011 (7,363)— 2,399 36,528 1,373 37,901 
Costs and expenses (gain)33,300 11,353 (7,363)— 1,816 39,106 (29,536)9,570 
Depreciation and amortization— — — — — 2,135 312 2,447 
Operating income (loss)$(4,819)$1,658 $— $— $583 $(4,713)$30,597 $25,884 
Segment information for the three months ended January 31, 2022 (in thousands):
 Fresh
Lemons		Lemon
Packing		Eliminations 
Avocados		Other
Agribusiness		Total
Agribusiness		Corporate
and Other		Total
Revenues from external customers$29,600 $5,968 $— $766 $1,749 $38,083 $1,191 $39,274 
Intersegment revenue— 6,589 (6,589)— — — — — 
Total net revenues29,600 12,557 (6,589)766 1,749 38,083 1,191 39,274 
Costs and expenses32,161 10,556 (6,589)321 2,610 39,059 7,293 46,352 
Depreciation and amortization— — — — — 2,185 295 2,480 
Operating (loss) income $(2,561)$2,001 $— $445 $(861)$(3,161)$(6,397)$(9,558)