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Segment Information | 9 Months Ended
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Jul. 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, farm management, farming and harvest costs and brokered fruit costs of oranges, specialty citrus and other crops. 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 (continued) Segment information for the three months ended July 31, 2023 is as follows (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 33,585 |  | $ | 5,472 |  | $ | — |  | $ | 3,462 |  | $ | 8,573 |  | $ | 51,092 |  | $ | 1,405 |  | $ | 52,497 |
Intersegment revenue | — |  | 9,684 |  | (9,684) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 33,585 |  | 15,156 |  | (9,684) |  | 3,462 |  | 8,573 |  | 51,092 |  | 1,405 |  | 52,497 |
Costs and expenses | 30,758 |  | 13,140 |  | (9,684) |  | 3,030 |  | 7,866 |  | 45,110 |  | 6,917 |  | 52,027 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 1,735 |  | 284 |  | 2,019 |
Operating (loss) income | $ | 2,827 |  | $ | 2,016 |  | $ | — |  | $ | 432 |  | $ | 707 |  | $ | 4,247 |  | $ | (5,796) |  | $ | (1,549) |
Segment information for the three months ended July 31, 2022 is as follows (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 33,823 |  | $ | 6,337 |  | $ | — |  | $ | 12,578 |  | $ | 4,856 |  | $ | 57,594 |  | $ | 1,329 |  | $ | 58,923 |
Intersegment revenue | — |  | 9,696 |  | (9,696) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 33,823 |  | 16,033 |  | (9,696) |  | 12,578 |  | 4,856 |  | 57,594 |  | 1,329 |  | 58,923 |
Costs and expenses | 32,600 |  | 11,953 |  | (9,696) |  | 3,154 |  | 1,280 |  | 39,291 |  | 6,103 |  | 45,394 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 2,172 |  | 297 |  | 2,469 |
Operating income (loss) | $ | 1,223 |  | $ | 4,080 |  | $ | — |  | $ | 9,424 |  | $ | 3,576 |  | $ | 16,131 |  | $ | (5,071) |  | $ | 11,060 |
Segment information for the nine months ended July 31, 2023 is as follows (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 94,913 |  | $ | 17,543 |  | $ | — |  | $ | 7,065 |  | $ | 14,775 |  | $ | 134,296 |  | $ | 4,172 |  | $ | 138,468 |
Intersegment revenue | — |  | 27,356 |  | (27,356) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 94,913 |  | 44,899 |  | (27,356) |  | 7,065 |  | 14,775 |  | 134,296 |  | 4,172 |  | 138,468 |
Costs and expenses (gains) | 94,035 |  | 36,568 |  | (27,356) |  | 4,053 |  | 13,365 |  | 120,665 |  | (9,180) |  | 111,485 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 5,610 |  | 900 |  | 6,510 |
Operating income | $ | 878 |  | $ | 8,331 |  | $ | — |  | $ | 3,012 |  | $ | 1,410 |  | $ | 8,021 |  | $ | 12,452 |  | $ | 20,473 |
Segment information for the nine months ended July 31, 2022 is as follows (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 94,415 |  | $ | 19,048 |  | $ | — |  | $ | 16,920 |  | $ | 10,663 |  | $ | 141,046 |  | $ | 3,901 |  | $ | 144,947 |
Intersegment revenue | — |  | 25,658 |  | (25,658) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 94,415 |  | 44,706 |  | (25,658) |  | 16,920 |  | 10,663 |  | 141,046 |  | 3,901 |  | 144,947 |
Costs and expenses | 91,983 |  | 34,171 |  | (25,658) |  | 5,548 |  | 7,718 |  | 113,762 |  | 19,665 |  | 133,427 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 6,544 |  | 888 |  | 7,432 |
Operating income (loss) | $ | 2,432 |  | $ | 10,535 |  | $ | — |  | $ | 11,372 |  | $ | 2,945 |  | $ | 20,740 |  | $ | (16,652) |  | $ | 4,088 |
Revenues related to rental operations are included in “Corporate and Other.” The detail of other agribusiness revenues is as follows (in thousands):
| Three Months Ended July 31, |  | Nine Months Ended July 31, |  |
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Oranges | $ | 1,290 |  |  | $ | 3,736 |  |  | $ | 3,825 |  |  | $ | 7,226 |  |  |
Specialty citrus and other | 1,900 |  |  | 1,120 |  |  | 4,163 |  |  | 3,437 |  |  |
Farm management | 5,383 |  |  | — |  |  | 6,787 |  |  | — |  |  |
Other agribusiness revenues | $ | 8,573 |  |  | $ | 4,856 |  |  | $ | 14,775 |  |  | $ | 10,663 |  |  |

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- 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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