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Equity in Investments
 6 Months Ended
Apr. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Equity in Investments Equity in Investments
Equity in investments consist of the following (in thousands):
 April 30, 2024October 31, 2023
Limoneira Lewis Community Builders, LLC$82,953 $66,288 
LLCB II, LLC9,089 8,869 
Limco Del Mar, Ltd.1,759 1,832 
Rosales1,366 1,325 
Romney Property Partnership502 502 
 $95,669 $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 period for the six months ended April 30, 2024, this threshold was met for LLCB and thus summarized income statement information is presented in this Quarterly Report on Form 10-Q. The full audited financial statements of LLCB for the years ended October 31, 2023, 2022 and 2021 were provided as exhibits to the Annual Report on Form 10-K for the fiscal year ended October 31, 2023.
6. Equity in Investments (continued)
Unconsolidated Significant Subsidiary (continued)
The following is unaudited summarized financial information for LLCB (in thousands):
 Six Months Ended
April 30,
 20242023
Revenues$94,540 $678 
Cost of land sold54,089 19 
Operating expenses135 322 
Net income$40,316 $337 
Net income attributable to Limoneira Company$19,455 $270 
April 30, 2024October 31, 2023
Cash and cash equivalents$102,078 $12,863 
Unsecured line of credit$— $—