XML 85 R31.htm IDEA: XBRL DOCUMENT v3.24.4
Segment Information
12 Months Ended
Oct. 31, 2024
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 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 primarily includes sales, farm management, farming and harvest costs, brokered fruit costs of oranges and specialty citrus, other crops, fallowing revenue, shipping revenue and shipping costs. During fiscal year 2024, the Company changed its reporting of other revenue and other costs and includes these items in the other agribusiness segment instead of the fresh lemons segment. Prior years’ information has been restated to conform to the current year’s presentation.
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, impairment of intangible asset, gain or loss 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 fiscal year 2024 is as follows (in thousands):
 Fresh
Lemons
Lemon
Packing
Eliminations
Avocados
Other
Agribusiness
Total
Agribusiness
Corporate
and Other
Total
Revenues from external customers$119,044 $17,131 $— $25,114 $24,634 $185,923 $5,580 $191,503 
Intersegment revenue— 32,127 (32,127)— — — — — 
Total net revenues119,044 49,258 (32,127)25,114 24,634 185,923 5,580 191,503 
Costs and expenses116,308 42,751 (32,127)7,334 23,424 157,690 31,617 189,307 
Depreciation and amortization— — — — — 7,117 1,257 8,374 
Operating (loss) income$2,736 $6,507 $— $17,780 $1,210 $21,116 $(27,294)$(6,178)
Segment Information (continued)
Segment information for fiscal year 2023 is as follows (in thousands):
 Fresh
Lemons
Lemon
Packing
Eliminations
Avocados
Other
Agribusiness
Total
Agribusiness
Corporate
and Other
Total
Revenues from external customers$117,445 $20,573 $— $7,046 $29,317 $174,381 $5,520 $179,901 
Intersegment revenue— 31,081 (31,081)— — — — — 
Total net revenues117,445 51,654 (31,081)7,046 29,317 174,381 5,520 179,901 
Costs and expenses (gains)117,602 45,689 (31,081)4,034 25,602 161,846 (1,304)160,542 
Depreciation and amortization— — — — — 7,323 1,253 8,576 
Operating income (loss)$(157)$5,965 $— $3,012 $3,715 $5,212 $5,571 $10,783 
Segment information for fiscal year 2022 is as follows (in thousands):
 Fresh
Lemons
Lemon
Packing
EliminationsAvocadosOther
Agribusiness
Total
Agribusiness
Corporate
and Other
Total
Revenues from external customers$117,924 $22,176 $— $17,331 $21,850 $179,281 $5,324 $184,605 
Intersegment revenue— 29,817 (29,817)— — — — — 
Total net revenues117,924 51,993 (29,817)17,331 21,850 179,281 5,324 184,605 
Costs and expenses112,688 43,017 (29,817)5,524 20,635 152,047 20,559 172,606 
Depreciation and amortization— — — — — 8,604 1,194 9,798 
Operating income (loss)$5,236 $8,976 $— $11,807 $1,215 $18,630 $(16,429)$2,201 
Revenues related to rental operations are included in “Corporate and Other.” The detail of other agribusiness revenues for fiscal years ended October 31, is as follows (in thousands):
 202420232022
Oranges$5,189 $5,779 $9,911 
Specialty citrus and other crops5,089 9,515 8,978 
Farm management10,212 9,931 — 
Other4,144 4,092 2,961 
Other agribusiness revenues$24,634 $29,317 $21,850