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Related-Party Transactions
 12 Months Ended
Oct. 31, 2024
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 - Real Estate Development, Note 7 - Equity in Investments and in the tables below (in thousands):
October 31, 2024October 31, 2023
Balance SheetBalance Sheet
RefRelated-PartyReceivables/Other from Related PartiesOther AssetsPayables to Related PartiesReceivables/Other from Related PartiesOther AssetsPayables to Related Parties
2 Mutual water companies$— $526 $105 $— $523 $48 
5 Cadiz / Fenner / WAM$— $— $— $— $— $206 
6 YMIDD$206 $— $— $571 $— $— 
7 FGF$2,184 $2,383 $837 $2,681 $2,519 $837 
8 LLCB$— $— $3,444 $66 $— $3,444 
10 Rosales$— $— $629 $896 $— $270 
11 Del Mar$— $— $527 $— $— $— 
Year Ended October 31, 2024
Year Ended October 31, 2023
Consolidated Statement of OperationsConsolidated Statement of Operations
RefRelated-PartyNet Revenue AgribusinessNet Revenue Other OperationsAgribusiness Expense and OtherDividends PaidNet Revenue AgribusinessNet Revenue Other OperationsAgribusiness Expense and OtherDividends Paid
1 Employees$— $920 $— $— $— $888 $— $— 
2 Mutual water companies$— $— $1,032 $— $— $— $1,306 $— 
3 Cooperative association$— $— $576 $— $— $— $1,689 $— 
5 Cadiz / Fenner / WAM$— $— $— $372 $— $— $2,074 $— 
6 YMIDD$1,273 $— $139 $— $1,080 $— $134 $— 
7 FGF$330 $200 $— $— $330 $224 $— $— 
9 Principal Owner$— $— $— $938 $— $— $— $867 
10 Rosales$4,541 $— $5,387 $— $4,581 $— $5,826 $— 
11 Del Mar$128 $— $1,182 $— $206 $— $1,161 $— 
Year Ended October 31, 2022
 Consolidated Statement of Operations
RefRelated-PartyNet Revenue AgribusinessNet Revenue Other OperationsAgribusiness Expense and OtherDividends Paid
1 Employees$— $869 $— $— 
2 Mutual water companies$— $— $1,454 $— 
3 Cooperative association$— $— $1,834 $— 
4 Calavo$— $80 $2 $126 
5 Cadiz / Fenner / WAM$— $— $1,467 $— 
6 YMIDD$225 $— $142 $— 
7 FGF$673 $343 $25 $— 
9 Principal Owner$— $— $— $593 
10 Rosales$3,615 $— $3,821 $— 
11 Del Mar$202 $— $1,568 $— 
(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.
(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 9 - 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.
(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 immaterial payments due to the cooperative association.
(4) Calavo - Through January 2022, the Company had representation on the board of directors of Calavo. Calavo owned common stock of the Company, and the Company paid 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 served as the CEO, President and a member of the board of directors of Cadiz, Inc. through December 31, 2023. As of January 1, 2024, Cadiz, Inc. is no longer a related-party. 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 leased 670 acres located in eastern San Bernardino County, California. In 2016, Cadiz assigned this lease to Fenner Valley Farms, LLC (“Fenner”), a subsidiary of Water Asset Management, LLC (“WAM”). As of the date of the lease assignment, the Company no longer had any related-party transactions with Cadiz. An affiliate of WAM is the holder of 9,300 shares of the Company’s Series B-2 convertible preferred stock and the Company paid dividends to such affiliate. The annual base rent was 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. Upon the adoption of ASC 842, the Company recorded a ROU asset and corresponding lease liability, which were written off in fiscal year 2023 upon cessation of farming operations.
(6) 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 no amounts payable to them for such purchases. Additionally, the Company received fallowing revenue from YMIDD and has a receivable outstanding.
(7) FGF - The Company has 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. The Company leases the Santa Clara ranch to FGF and records rental revenue related to the leased land.
(8) LLCB - Refer to Note 6 - Real Estate Development.
(9) Principal owner - The Company has one principal owner with ownership shares over 10% and paid dividends to such owner.
(10) Rosales - The Company has an equity interest in Rosales as further described in Note 7 - Equity in Investments. The Company recognizes lemon and orange sales to Rosales, procures lemons and oranges from Rosales and has amounts due to and due from Rosales for such sales and purchases.
(11) Del Mar - The Company has an interest in Del Mar as a general partner and as a limited partner as further described in Note 7 - Equity in Investments. The Company provides Del Mar with farm management services and Del Mar markets lemons through the Company. The Company has a payable due to Del Mar for such lemon procurement.