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Segment Information (Tables) | 6 Months Ended
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Apr. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Information by Segment | Segment information for the three months ended April 30, 2024 is as follows (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 30,841 |  | $ | 4,964 |  | $ | — |  | $ | 2,348 |  | $ | 5,104 |  | $ | 43,257 |  | $ | 1,349 |  | $ | 44,606 |
Intersegment revenue | — |  | 10,914 |  | (10,914) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 30,841 |  | 15,878 |  | (10,914) |  | 2,348 |  | 5,104 |  | 43,257 |  | 1,349 |  | 44,606 |
Costs and expenses | 28,869 |  | 13,588 |  | (10,914) |  | 1,425 |  | 5,680 |  | 38,648 |  | 8,533 |  | 47,181 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 1,788 |  | 312 |  | 2,100 |
Operating (loss) income | $ | 1,972 |  | $ | 2,290 |  | $ | — |  | $ | 923 |  | $ | (576) |  | $ | 2,821 |  | $ | (7,496) |  | $ | (4,675) |
Segment information for the three months ended April 30, 2023 is as follows (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 31,942 |  | $ | 6,423 |  | $ | — |  | $ | 3,603 |  | $ | 4,708 |  | $ | 46,676 |  | $ | 1,394 |  | $ | 48,070 |
Intersegment revenue | — |  | 10,309 |  | (10,309) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 31,942 |  | 16,732 |  | (10,309) |  | 3,603 |  | 4,708 |  | 46,676 |  | 1,394 |  | 48,070 |
Costs and expenses | 29,219 |  | 12,075 |  | (10,309) |  | 1,023 |  | 4,441 |  | 36,449 |  | 13,439 |  | 49,888 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 1,740 |  | 304 |  | 2,044 |
Operating (loss) income | $ | 2,723 |  | $ | 4,657 |  | $ | — |  | $ | 2,580 |  | $ | 267 |  | $ | 8,487 |  | $ | (12,349) |  | $ | (3,862) |
Segment information for the six months ended April 30, 2024 is as follows (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 58,225 |  | $ | 10,556 |  | $ | — |  | $ | 2,348 |  | $ | 10,467 |  | $ | 81,596 |  | $ | 2,741 |  | $ | 84,337 |
Intersegment revenue | — |  | 17,630 |  | (17,630) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 58,225 |  | 28,186 |  | (17,630) |  | 2,348 |  | 10,467 |  | 81,596 |  | 2,741 |  | 84,337 |
Costs and expenses | 57,710 |  | 24,306 |  | (17,630) |  | 1,425 |  | 10,207 |  | 76,018 |  | 16,581 |  | 92,599 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 3,532 |  | 626 |  | 4,158 |
Operating (loss) income | $ | 515 |  | $ | 3,880 |  | $ | — |  | $ | 923 |  | $ | 260 |  | $ | 2,046 |  | $ | (14,466) |  | $ | (12,420) |
Segment information for the six months ended April 30, 2023 is as follows (in thousands):
| Fresh Lemons | Lemon Packing | Eliminations | Avocados | Other Agribusiness | Total Agribusiness | Corporate and Other | Total
Revenues from external customers | $ | 59,263 |  | $ | 12,071 |  | $ | — |  | $ | 3,603 |  | $ | 8,267 |  | $ | 83,204 |  | $ | 2,767 |  | $ | 85,971 |
Intersegment revenue | — |  | 17,672 |  | (17,672) |  | — |  | — |  | — |  | — |  | — |
Total net revenues | 59,263 |  | 29,743 |  | (17,672) |  | 3,603 |  | 8,267 |  | 83,204 |  | 2,767 |  | 85,971 |
Costs and expenses (gains) | 61,533 |  | 23,428 |  | (17,672) |  | 1,023 |  | 7,243 |  | 75,555 |  | (16,097) |  | 59,458 |
Depreciation and amortization | — |  | — |  | — |  | — |  | — |  | 3,875 |  | 616 |  | 4,491 |
Operating income (loss) | $ | (2,270) |  | $ | 6,315 |  | $ | — |  | $ | 2,580 |  | $ | 1,024 |  | $ | 3,774 |  | $ | 18,248 |  | $ | 22,022 |
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 April 30, |  | Six Months Ended April 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Oranges | $ | 1,160 |  |  | $ | 1,383 |  |  | $ | 2,301 |  |  | $ | 2,535 |  |  |
Specialty citrus and other crops | 839 |  |  | 1,016 |  |  | 1,925 |  |  | 2,263 |  |  |
Farm management | 2,046 |  |  | 1,404 |  |  | 4,094 |  |  | 1,404 |  |  |
Other | 1,059 |  |  | 905 |  |  | 2,147 |  |  | 2,065 |  |  |
Other agribusiness revenues | $ | 5,104 |  |  | $ | 4,708 |  |  | $ | 10,467 |  |  | $ | 8,267 |  |  |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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