XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.23.1

Segment Information | 6 Months Ended
--- | ---
Apr. 30, 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, farm management, 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 $1,383,000 and $2,535,000 and specialty citrus and other of $2,420,000 and $3,667,000 for the three and six months ended April 30, 2023. Other agribusiness revenues consisted of oranges of $2,617,000 and $3,490,000 and specialty citrus and other of $1,441,000 and $2,317,000 for the three and six months ended April 30, 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, gain on legal settlement, total other income (expense) and income taxes, or specifically identify them to its operating segments. The lemon packing segment 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 April 30, 2023 (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 32,847 |  | $ | 6,423 |  | $ | — |  | $ | 3,603 |  | $ | 3,803 |  | $ | 46,676 |  | $ | 1,394 |  | $ | 48,070 |
Intersegment revenue | — |  | 10,309 |  | (10,309) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 32,847 |  | 16,732 |  | (10,309) |  | 3,603 |  | 3,803 |  | 46,676 |  | 1,394 |  | 48,070 |
Costs and expenses | 29,977 |  | 12,075 |  | (10,309) |  | 1,023 |  | 3,683 |  | 36,449 |  | 13,439 |  | 49,888 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 1,740 |  | 304 |  | 2,044 |
Operating income (loss) | $ | 2,870 |  | $ | 4,657 |  | $ | — |  | $ | 2,580 |  | $ | 120 |  | $ | 8,487 |  | $ | (12,349) |  | $ | (3,862) |
Segment information for the three months ended April 30, 2022 (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 30,992 |  | $ | 6,743 |  | $ | — |  | $ | 3,576 |  | $ | 4,058 |  | $ | 45,369 |  | $ | 1,381 |  | $ | 46,750 |
Intersegment revenue | — |  | 9,373 |  | (9,373) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 30,992 |  | 16,116 |  | (9,373) |  | 3,576 |  | 4,058 |  | 45,369 |  | 1,381 |  | 46,750 |
Costs and expenses | 27,222 |  | 11,662 |  | (9,373) |  | 2,073 |  | 3,828 |  | 35,412 |  | 6,269 |  | 41,681 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 2,187 |  | 296 |  | 2,483 |
Operating income (loss) | $ | 3,770 |  | $ | 4,454 |  | $ | — |  | $ | 1,503 |  | $ | 230 |  | $ | 7,770 |  | $ | (5,184) |  | $ | 2,586 |
Segment information for the six months ended April 30, 2023 (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 61,328 |  | $ | 12,071 |  | $ | — |  | $ | 3,603 |  | $ | 6,202 |  | $ | 83,204 |  | $ | 2,767 |  | $ | 85,971 |
Intersegment revenue | — |  | 17,672 |  | (17,672) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 61,328 |  | 29,743 |  | (17,672) |  | 3,603 |  | 6,202 |  | 83,204 |  | 2,767 |  | 85,971 |
Costs and expenses (gains) | 63,277 |  | 23,428 |  | (17,672) |  | 1,023 |  | 5,499 |  | 75,555 |  | (16,097) |  | 59,458 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 3,875 |  | 616 |  | 4,491 |
Operating income (loss) | $ | (1,949) |  | $ | 6,315 |  | $ | — |  | $ | 2,580 |  | $ | 703 |  | $ | 3,774 |  | $ | 18,248 |  | $ | 22,022 |
Segment information for the six months ended April 30, 2022 (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 60,592 |  | $ | 12,711 |  | $ | — |  | $ | 4,342 |  | $ | 5,807 |  | $ | 83,452 |  | $ | 2,572 |  | $ | 86,024 |
Intersegment revenue | — |  | 15,962 |  | (15,962) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 60,592 |  | 28,673 |  | (15,962) |  | 4,342 |  | 5,807 |  | 83,452 |  | 2,572 |  | 86,024 |
Costs and expenses | 59,383 |  | 22,218 |  | (15,962) |  | 2,394 |  | 6,438 |  | 74,471 |  | 13,562 |  | 88,033 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 4,372 |  | 591 |  | 4,963 |
Operating income (loss) | $ | 1,209 |  | $ | 6,455 |  | $ | — |  | $ | 1,948 |  | $ | (631) |  | $ | 4,609 |  | $ | (11,581) |  | $ | (6,972) |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration