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Equity in Investments | 3 Months Ended
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Jan. 31, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Equity in Investments | Equity in Investments Equity in investments consist of the following (in thousands):
| January 31, 2024 |  | October 31, 2023
Limoneira Lewis Community Builders, LLC | $ | 66,359 |  |  | $ | 66,288 |
LLCB II, LLC | 9,066 |  |  | 8,869 |
Limco Del Mar, Ltd. | 1,801 |  |  | 1,832 |
Rosales | 1,329 |  |  | 1,325 |
Romney Property Partnership | 502 |  |  | 502 |
| $ | 79,057 |  |  | $ | 78,816 |
Unconsolidated Significant Subsidiary In accordance with Rule 10-01(b)(1) of Regulation S-X, which applies to interim reports on Form 10-Q, the Company must determine if its equity method investees are considered “significant subsidiaries.” In evaluating its investments, there are two tests utilized to determine if equity method investees are considered significant subsidiaries: the income test and the investment test. Summarized income statement information of an equity method investee is required in an interim report if either of the two tests exceed 20% in the interim periods presented. During the year-to-date interim periods for the three months ended January 31, 2024, this threshold was met for LLCB and thus summarized income statement information is presented in this Quarterly Report on Form 10-Q. The following is unaudited summarized financial information for LLCB (in thousands):
| Three Months Ended January 31,
| 2024 |  | 2023
Revenues | $ | 913 |  |  | $ | 344 |
Cost of land sold | 800 |  |  | — |
Operating expenses | 21 |  |  | 240 |
Net income | $ | 92 |  |  | $ | 104 |
Net income attributable to Limoneira Company | $ | 92 |  |  | $ | 104 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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