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Segment Information
3 Months Ended
Jan. 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 year's 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, gain or loss on disposal of assets, 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 January 31, 2024 is as follows (in thousands):
 Fresh
Lemons
Lemon
Packing
Eliminations
Avocados
Other
Agribusiness
Total
Agribusiness
Corporate
and Other
Total
Revenues from external customers$27,384 $5,592 $— $— $5,363 $38,339 $1,392 $39,731 
Intersegment revenue— 6,716 (6,716)— — — — — 
Total net revenues27,384 12,308 (6,716)— 5,363 38,339 1,392 39,731 
Costs and expenses 28,841 10,718 (6,716)— 4,527 37,370 8,048 45,418 
Depreciation and amortization— — — — — 1,744 314 2,058 
Operating (loss) income$(1,457)$1,590 $— $— $836 $(775)$(6,970)$(7,745)
Segment information for the three months ended January 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$27,321 $5,648 $— $— $3,559 $36,528 $1,373 $37,901 
Intersegment revenue— 7,363 (7,363)— — — — — 
Total net revenues27,321 13,011 (7,363)— 3,559 36,528 1,373 37,901 
Costs and expenses32,314 11,353 (7,363)— 2,802 39,106 (29,536)9,570 
Depreciation and amortization— — — — — 2,135 312 2,447 
Operating (loss) income $(4,993)$1,658 $— $— $757 $(4,713)$30,597 $25,884 
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
January 31,
 20242023
Oranges$1,141 $1,152 
Specialty citrus and other crops1,086 1,247 
Farm management2,048 — 
Other1,088 1,160 
Other agribusiness revenues$5,363 $3,559