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Leases
 12 Months Ended
Oct. 31, 2025
Leases [Abstract]  
Leases Leases
Lessor Arrangements
The Company enters into leasing transactions in which it rents certain of its assets and the Company is the lessor. These lease contracts are typically classified as operating leases with remaining terms ranging from one month to 17 years with various renewal terms available. All of the residential rentals have month-to-month lease terms.
The following table presents the components of the Company’s operating lease portfolio included in property, plant and equipment, net as of October 31 (in thousands):
20252024
Land and land improvements$12,200 $12,219 
Buildings, equipment and building improvements20,932 20,671 
Orchards8,410 8,410 
Less: accumulated depreciation(10,723)(9,765)
Property, plant and equipment, net under operating leases$30,819 $31,535 
Depreciation expense for assets under operating leases was $1,020,000 and $962,000 for fiscal years 2025 and 2024, respectively.
12. Leases (continued)
Lessor Arrangements (continued)
The Company's rental operations revenue consists of the following for the fiscal years ended October 31 (in thousands):
20252024
Operating lease revenue$5,738 $5,255 
Variable lease revenue300 325 
Total lease revenue$6,038 $5,580 
The future minimum lease payments to be received by the Company related to these operating lease agreements as of October 31, 2025 are as follows (in thousands):
2026$489 
2027164 
2028106 
202949 
203049 
Thereafter592 
Total$1,449 
Lessee Arrangements
The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are classified as either operating or finance leases. The Company’s lease contracts are generally for agricultural land, packinghouse facilities, equipment and vehicles with remaining lease terms ranging from one to four years, with various term extensions available. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Lease costs are primarily included in agribusiness costs and expenses in the Company’s consolidated statements of operations.
Lease costs consist of the following for the fiscal years ended October 31 (in thousands):
20252024
Operating lease costs$2,085 $2,050 
Finance lease costs:
Amortization of lease assets468 223 
Interest on lease liabilities79 43 
Variable lease costs53 319 
Short-term lease costs336 208 
Total lease costs$3,021 $2,843 
Supplemental balance sheet information related to leases consists of the following as of October 31 (in thousands):
Classification20252024
Assets
Operating lease ROU assetsOther assets$640 $2,416 
Finance lease assetsOther assets1,617 772 
$2,257 $3,188 
Liabilities
Current operating lease liabilitiesAccrued liabilities$426 $2,075 
Current finance lease liabilitiesAccrued liabilities445 220 
Non-current operating lease liabilitiesOther long-term liabilities219 400 
Non-current finance lease liabilitiesOther long-term liabilities926 418 
$2,016 $3,113 
Weighted-average remaining lease term (in years):
Operating leases1.51.5
Finance leases3.03.3
Weighted-average discount rate:
Operating leases6.8 %6.8 %
Finance leases6.4 %7.1 %
Supplemental cash flow information related to leases consists of the following for the fiscal years ended October 31 (in thousands):
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$2,137 $2,037 
Operating cash outflows from finance leases$79 $43 
Financing cash outflows from finance leases$581 $360 
ROU assets obtained in exchange for new operating lease liabilities$186 $766 
Leased assets obtained in exchange for new finance lease liabilities$1,313 $677 
Future minimum lease payments under non-cancellable leases are as follows (in thousands), which excludes $1,324,000 of operating and finance lease payments for leases that have been signed but not commenced:
OperatingFinanceTotal
2026$445 $518 $963 
2027213 494 707 
202824 374 398 
20293 121 124 
Total lease payments685 1,507 2,192 
Less: Imputed interest(40)(136)(176)
Present value of lease liabilities$645 $1,371 $2,016 
12. Leases (continued)
In addition to operating and finance lease commitments, the Company also has financing transactions which do not meet the definition of a lease, with minimum future payments of $452,000 for fiscal year 2026 and $37,000 for fiscal year 2027.
Leases Leases
Lessor Arrangements
The Company enters into leasing transactions in which it rents certain of its assets and the Company is the lessor. These lease contracts are typically classified as operating leases with remaining terms ranging from one month to 17 years with various renewal terms available. All of the residential rentals have month-to-month lease terms.
The following table presents the components of the Company’s operating lease portfolio included in property, plant and equipment, net as of October 31 (in thousands):
20252024
Land and land improvements$12,200 $12,219 
Buildings, equipment and building improvements20,932 20,671 
Orchards8,410 8,410 
Less: accumulated depreciation(10,723)(9,765)
Property, plant and equipment, net under operating leases$30,819 $31,535 
Depreciation expense for assets under operating leases was $1,020,000 and $962,000 for fiscal years 2025 and 2024, respectively.
12. Leases (continued)
Lessor Arrangements (continued)
The Company's rental operations revenue consists of the following for the fiscal years ended October 31 (in thousands):
20252024
Operating lease revenue$5,738 $5,255 
Variable lease revenue300 325 
Total lease revenue$6,038 $5,580 
The future minimum lease payments to be received by the Company related to these operating lease agreements as of October 31, 2025 are as follows (in thousands):
2026$489 
2027164 
2028106 
202949 
203049 
Thereafter592 
Total$1,449 
Lessee Arrangements
The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are classified as either operating or finance leases. The Company’s lease contracts are generally for agricultural land, packinghouse facilities, equipment and vehicles with remaining lease terms ranging from one to four years, with various term extensions available. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Lease costs are primarily included in agribusiness costs and expenses in the Company’s consolidated statements of operations.
Lease costs consist of the following for the fiscal years ended October 31 (in thousands):
20252024
Operating lease costs$2,085 $2,050 
Finance lease costs:
Amortization of lease assets468 223 
Interest on lease liabilities79 43 
Variable lease costs53 319 
Short-term lease costs336 208 
Total lease costs$3,021 $2,843 
Supplemental balance sheet information related to leases consists of the following as of October 31 (in thousands):
Classification20252024
Assets
Operating lease ROU assetsOther assets$640 $2,416 
Finance lease assetsOther assets1,617 772 
$2,257 $3,188 
Liabilities
Current operating lease liabilitiesAccrued liabilities$426 $2,075 
Current finance lease liabilitiesAccrued liabilities445 220 
Non-current operating lease liabilitiesOther long-term liabilities219 400 
Non-current finance lease liabilitiesOther long-term liabilities926 418 
$2,016 $3,113 
Weighted-average remaining lease term (in years):
Operating leases1.51.5
Finance leases3.03.3
Weighted-average discount rate:
Operating leases6.8 %6.8 %
Finance leases6.4 %7.1 %
Supplemental cash flow information related to leases consists of the following for the fiscal years ended October 31 (in thousands):
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$2,137 $2,037 
Operating cash outflows from finance leases$79 $43 
Financing cash outflows from finance leases$581 $360 
ROU assets obtained in exchange for new operating lease liabilities$186 $766 
Leased assets obtained in exchange for new finance lease liabilities$1,313 $677 
Future minimum lease payments under non-cancellable leases are as follows (in thousands), which excludes $1,324,000 of operating and finance lease payments for leases that have been signed but not commenced:
OperatingFinanceTotal
2026$445 $518 $963 
2027213 494 707 
202824 374 398 
20293 121 124 
Total lease payments685 1,507 2,192 
Less: Imputed interest(40)(136)(176)
Present value of lease liabilities$645 $1,371 $2,016 
12. Leases (continued)
In addition to operating and finance lease commitments, the Company also has financing transactions which do not meet the definition of a lease, with minimum future payments of $452,000 for fiscal year 2026 and $37,000 for fiscal year 2027.