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Equity in Investments
 9 Months Ended
Jul. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Equity in Investments Equity in Investments
Equity in investments consist of the following (in thousands):
 July 31, 2024October 31, 2023
Limoneira Lewis Community Builders, LLC$67,279 $66,288 
LLCB II, LLC9,399 8,869 
Limco Del Mar, Ltd. ("Del Mar")1,737 1,832 
Rosales1,459 1,325 
Romney Property Partnership501 502 
 $80,375 $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 nine months ended July 31, 2024, this threshold was met for LLCB and thus summarized income statement information for LLCB 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):
 Nine Months Ended
July 31,
 20242023
Revenues$91,402 $1,086 
Cost of land sold50,246 — 
Operating expenses276 414 
Net income$40,880 $672 
Net income attributable to Limoneira Company$19,765 $477 
July 31, 2024October 31, 2023
Cash and cash equivalents$69,856 $12,863