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Related-Party Transactions
 6 Months Ended
Apr. 30, 2024
Related Party Transactions [Abstract]  
Related-Party Transactions Related-Party Transactions
The Company has transactions with equity method investments and various related parties summarized in Note 6 - Equity in Investments and in the tables below (in thousands):
April 30, 2024October 31, 2023
Balance SheetBalance Sheet
RefRelated-PartyReceivables/Other from Related PartiesOther AssetsPayables to Related PartiesReceivables/Other from Related PartiesOther AssetsPayables to Related Parties
2 Mutual water companies$— $497 $652 $— $523 $48 
5 Cadiz / Fenner / WAM$— $— $206 $— $— $206 
6 YMIDD$230 $— $— $571 $— $— 
7 FGF$2,263 $2,519 $837 $2,681 $2,519 $837 
8 LLCB$— $— $3,444 $66 $— $3,444 
10 Rosales$450 $— $— $896 $— $270 
Three Months Ended April 30, 2024Three Months Ended April 30, 2023
Consolidated Statement of OperationsConsolidated Statement of Operations
RefRelated-PartyNet Revenue AgribusinessNet Revenue Other OperationsAgribusiness Expense and OtherDividends PaidNet Revenue AgribusinessNet Revenue Other OperationsAgribusiness Expense and OtherDividends Paid
1 Employees$— $234 $— $— $— $221 $— $— 
2 Mutual water companies$— $— $25 $— $— $— $406 $— 
3 Cooperative association$— $— $70 $— $— $— $473 $— 
5 Cadiz / Fenner / WAM$— $— $— $93 $— $— $417 $— 
6 YMIDD$311 $— $62 $— $135 $— $62 $— 
7 FGF$82 $50 $— $— $33 $50 $— $— 
9 Principal Owner$— $— $— $226 $— $— $— $222 
10 Rosales$1,861 $— $— $— $— $— $— $— 
Six Months Ended April 30, 2024Six Months Ended April 30, 2023
Consolidated Statement of OperationsConsolidated Statement of Operations
RefRelated-PartyNet Revenue AgribusinessNet Revenue Other OperationsAgribusiness Expense and OtherDividends PaidNet Revenue AgribusinessNet Revenue Other OperationsAgribusiness Expense and OtherDividends Paid
1 Employees$— $455 $— $— $— $444 $— $— 
2 Mutual water companies$— $— $574 $— $— $— $778 $— 
3 Cooperative association$— $— $559 $— $— $— $866 $— 
5 Cadiz / Fenner / WAM$— $— $— $186 $— $— $1,555 $— 
6 YMIDD$629 $— $62 $— $270 $— $72 $— 
7 FGF$165 $100 $— $— $116 $124 $— $— 
9 Principal Owner$— $— $— $450 $— $— $— $431 
10 Rosales$3,184 $— $49 $— $— $— $— $— 
(1) Employees - The Company rents certain of its residential housing assets to employees on a month-to-month basis and recorded rental income from employees.
(2) Mutual water companies - The Company has representation on the boards of directors of the mutual water companies in which the Company has investments, as well as other water districts. Refer to Note 8 - Other Assets. The Company recorded capital contributions, purchased water and water delivery services and had water payments due to the mutual water companies and districts.
(3) Cooperative association - The Company has representation on the board of directors of a non-profit cooperative association that provides pest control services for the agricultural industry. The Company purchased services and supplies from and had immaterial payments due to the cooperative association.
(5) Cadiz / Fenner / WAM - A member of the Company’s board of directors served as the CEO, President and a member of the board of directors of Cadiz, Inc. through December 31, 2023. As of January 1, 2024, Cadiz, Inc. is no longer a related-party. In 2013, the Company entered a long-term lease agreement (the “Lease”) with Cadiz Real Estate, LLC (“Cadiz”), a wholly owned subsidiary of Cadiz, Inc., and leased 670 acres located in eastern San Bernardino County, California. In 2016, Cadiz assigned this lease to Fenner Valley Farms, LLC (“Fenner”), a subsidiary of Water Asset Management, LLC (“WAM”). As of the date of the lease assignment, the Company no longer had any related-party transactions with Cadiz. An affiliate of WAM is the holder of 9,300 shares of the Company's Series B-2 convertible preferred stock and the Company paid dividends to such affiliate. The annual base rent was equal to the sum of $200 per planted acre and 20% of gross revenues from the sale of harvested lemons (less operating expenses), not to exceed $1,200 per acre per year. Upon the adoption of ASC 842, the Company recorded a ROU asset and corresponding lease liability, which were written off in fiscal year 2023 upon cessation of farming operations.
(6) Yuma Mesa Irrigation and Drainage District (“YMIDD”) - The Company has representation on the board of directors of YMIDD. The Company purchased water from YMIDD and had no amounts payable to them for such purchases. Additionally, the Company received fallowing revenue from YMIDD and has a receivable outstanding.
(7) FGF - The Company advances funds to FGF for fruit purchases, which are recorded as an asset until the sales occur and the remaining proceeds become due to FGF. The Company has a receivable from FGF for lemon sales and the sale of packing supplies and a payable due to FGF for fruit purchases and services. The Company records revenue related to the licensing of intangible assets to FGF. The Company leases the Santa Clara ranch to FGF and records rental revenue related to the leased land.
(8) LLCB - Refer to Note 5 - Real Estate Development.
(9) Principal owner - The Company has one principal owner with ownership shares over 10% and paid dividends to such owner.
(10) Rosales - The Company has an equity interest in Rosales as further described in Note 6 - Equity in Investments. The Company recognizes lemon sales to Rosales, procures lemons and oranges from Rosales and has amounts due to and due from Rosales for such sales and consignments.