0001342423-20-000027 | 10-Q | XBRL Viewer

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Cover - shares	9 Months Ended
Cover - shares	Jul. 31, 2020	Aug. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2020
Document Transition Report	false
Entity File Number	001-34755
Entity Registrant Name	LIMONEIRA COMPANY
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0260692
Entity Address, Address Line One	1141 Cummings Road
Entity Address, City or Town	Santa Paula
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	93060
City Area Code	805
Local Phone Number	525-5541
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	LMNR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,815,607
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001342423
Current Fiscal Year End Date	--10-31

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Current assets:
Cash	$ 878	$ 616
Accounts receivable, net	21,478	15,114
Cultural costs	6,090	7,223
Prepaid expenses and other current assets	18,309	8,153
Receivables/other from related parties	3,444	2,985
Income taxes receivable	5,827	979
Total current assets	56,026	35,070
Property, plant and equipment, net	242,501	248,114
Real estate development	20,142	17,602
Equity in investments	61,245	58,223
Investment in Calavo Growers, Inc.	0	17,346
Goodwill	1,538	1,839
Intangible assets, net	11,609	12,407
Other assets	8,837	9,266
Total assets	401,898	399,867
Current liabilities:
Accounts payable	10,350	4,974
Growers payable	6,366	14,500
Accrued liabilities	6,171	8,261
Payables to related parties	5,235	906
Current portion of long-term debt	3,426	3,023
Total current liabilities	31,548	31,664
Long-term liabilities:
Long-term debt, less current portion	122,159	105,892
Deferred income taxes	23,765	24,346
Other long-term liabilities	6,064	5,467
Total liabilities	183,536	167,369
Commitments and contingencies (See Note 18)	0	0
Stockholders’ equity:
Common Stock – 0.01 par value (39,000,000 shares authorized: 17,857,707 and 17,756,180 shares issued and 17,815,607 and 17,756,180 shares outstanding at July 31, 2020 and October 31, 2019, respectively)	179	178
Additional paid-in capital	161,655	160,254
Retained earnings	39,695	53,089
Accumulated other comprehensive loss	(7,261)	(7,255)
Treasury stock, at cost, 42,100 shares at July 31, 2020	(562)	0
Noncontrolling interest	13,846	15,422
Total stockholders’ equity	207,552	221,688
Total liabilities and stockholders’ equity	401,898	399,867
Series B Convertible Preferred Stock
Long-term liabilities:
Convertible Preferred Stock	1,479	1,479
Series B-2 Convertible Preferred Stock
Long-term liabilities:
Convertible Preferred Stock	9,331	9,331
Series A Junior Participating Preferred Stock
Stockholders’ equity:
Series A Junior Participating Preferred Stock – $0.01 par value (20,000 shares authorized: zero issued or outstanding at July 31, 2020 and October 31, 2019)	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Jul. 31, 2020	Oct. 31, 2019
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	39,000,000	39,000,000
Common stock, shares issued (in shares)	17,857,707	17,756,180
Common stock, outstanding (in shares)	17,815,607	17,756,180
Common stock in treasury (in shares)	42,100
Series B Convertible Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100.00	$ 100.00
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)		14,790
Preferred stock, shares outstanding (in shares)		14,790
Coupon rate	8.75%	8.75%
Series B-2 Convertible Preferred Stock
Preferred stock, par value (in dollars per share)	$ 100.00	$ 100.00
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	9,300	9,300
Preferred stock, shares outstanding (in shares)	9,300	9,300
Coupon rate	4.00%	4.00%
Liquidation preference per share (in dollars per share)	$ 1,000	$ 1,000
Series A Junior Participating Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Net revenues:
Agribusiness	$ 52,387	$ 49,631	$ 131,309	$ 131,254
Other operations	1,172	1,238	3,477	3,668
Total net revenues	53,559	50,869	134,786	134,922
Costs and expenses:
Agribusiness	46,826	42,747	125,318	118,741
Other operations	1,010	1,043	3,396	3,269
Selling, general and administrative	3,909	4,961	15,557	14,819
Total costs and expenses	51,745	48,751	144,271	136,829
Operating income (loss)	1,814	2,118	(9,485)	(1,907)
Other income (expense):
Interest expense, net	(92)	(774)	(1,089)	(1,313)
Equity in earnings of investments, net	832	480	341	2,449
Loss on stock in Calavo Growers, Inc.	0	(1,775)	(6,299)	(2,073)
Other income, net	11	15	246	375
Total other income (expense)	751	(2,054)	(6,801)	(562)
Income (loss) before income tax (provision) benefit	2,565	64	(16,286)	(2,469)
Income tax (provision) benefit	(765)	(461)	5,876	216
Net income (loss)	1,800	(397)	(10,410)	(2,253)
Net loss (income) attributable to noncontrolling interest	509	(593)	1,409	(615)
Net income (loss) attributable to Limoneira Company	2,309	(990)	(9,001)	(2,868)
Preferred dividends	(125)	(125)	(376)	(376)
Net income (loss) attributable to common stock	$ 2,184	$ (1,115)	$ (9,377)	$ (3,244)
Basic net (loss) income per common share (in dollars per share)	$ 0.12	$ (0.06)	$ (0.54)	$ (0.19)
Diluted net (loss) income per common share (in dollars per share)	$ 0.12	$ (0.06)	$ (0.54)	$ (0.19)
Weighted-average common shares outstanding-basic (in shares)	17,623,000	17,554,000	17,607,000	17,527,000
Weighted-average common shares outstanding-diluted (in shares)	18,497,000	17,554,000	17,607,000	17,527,000
Revenue, Product and Service [Extensible List]	lmnr:AgribusinessMember	lmnr:AgribusinessMember	lmnr:AgribusinessMember	lmnr:AgribusinessMember
Cost, Product and Service [Extensible List]	lmnr:AgribusinessMember	lmnr:AgribusinessMember	lmnr:AgribusinessMember	lmnr:AgribusinessMember

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,800	$ (397)	$ (10,410)	$ (2,253)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	1,410	(559)	(476)	(116)
Minimum pension liability adjustment, net of tax of $50, $28, $150 and $83 for the three and nine months ended July 31, 2020 and 2019, respectively.	135	72	330	218
Residual state tax effects on sale of equity securities	0	0	140	0
Total other comprehensive income (loss), net of tax	1,545	(487)	(6)	102
Comprehensive income (loss)	3,345	(884)	(10,416)	(2,151)
Comprehensive loss attributable to noncontrolling interest	544	575	1,431	576
Comprehensive income (loss) attributable to Limoneira Company	$ 3,889	$ (309)	$ (8,985)	$ (1,575)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Statement of Other Comprehensive Income [Abstract]
Minimum pension liability adjustment, tax	$ 50	$ 28	$ 150	$ 83

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND TEMPORARY EQUITY - USD ($) $ in Thousands	Total	Series B Preferred Stock	Series B2 Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings Series B Preferred Stock	Retained Earnings Series B2 Preferred Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Noncontrolling Interest
Beginning balance (in shares) at Oct. 31, 2018				17,647,135
Beginning balance at Oct. 31, 2018	$ 219,140			$ 176	$ 159,071	$ 50,354				$ 8,965			$ 574
Beginning balance (ASU 2016-01) at Oct. 31, 2018							$ 15,921				$ (15,921)
Beginning balance (ASU 2018-02) at Oct. 31, 2018							(1,724)				1,724
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends Common	(1,332)					(1,332)
Dividends Preferred		$ (32)	$ (93)					$ (32)	$ (93)
Stock compensation (in shares)				145,737
Stock compensation	791			$ 2	789
Exchange of common stock (in shares)				(20,119)
Exchange of common stock	(305)				(305)
Net income (loss)	(4,676)					(4,693)							17
Other comprehensive income (loss), net of tax	957									969			(12)
Ending balance (in shares) at Jan. 31, 2019				17,772,753
Ending balance at Jan. 31, 2019	214,450			$ 178	159,555	58,401				(4,263)			579
Beginning balance, temporary equity at Oct. 31, 2018		1,479	9,331
Ending balance, temporary equity at Jan. 31, 2019		1,479	9,331
Beginning balance (in shares) at Oct. 31, 2018				17,647,135
Beginning balance at Oct. 31, 2018	219,140			$ 176	159,071	50,354				8,965			574
Beginning balance (ASU 2016-01) at Oct. 31, 2018							15,921				(15,921)
Beginning balance (ASU 2018-02) at Oct. 31, 2018							$ (1,724)				$ 1,724
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,253)
Ending balance (in shares) at Jul. 31, 2019				17,772,753
Ending balance at Jul. 31, 2019	228,117			$ 178	160,200	57,309				(5,130)			15,560
Beginning balance, temporary equity at Oct. 31, 2018		1,479	9,331
Ending balance, temporary equity at Jul. 31, 2019		1,479	9,331
Beginning balance (in shares) at Jan. 31, 2019				17,772,753
Beginning balance at Jan. 31, 2019	214,450			$ 178	159,555	58,401				(4,263)			579
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends Common	(1,333)					(1,333)
Dividends Preferred		(33)	(93)					(33)	(93)
Stock compensation (in shares)				0
Stock compensation	437			$ 0	437
Net income (loss)	2,820					2,815							5
Other comprehensive income (loss), net of tax	(389)									(380)			(9)
Ending balance (in shares) at Apr. 30, 2019				17,772,753
Ending balance at Apr. 30, 2019	215,859			$ 178	159,992	59,757				(4,643)			575
Beginning balance, temporary equity at Jan. 31, 2019		1,479	9,331
Ending balance, temporary equity at Apr. 30, 2019		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends Common	(1,333)					(1,333)
Dividends Preferred		(32)	(93)					(32)	(93)
Stock compensation (in shares)				0
Stock compensation	208			$ 0	208
Acquired noncontrolling interest	14,410												14,410
Net income (loss)	(397)					(990)							593
Other comprehensive income (loss), net of tax	(505)									(487)			(18)
Ending balance (in shares) at Jul. 31, 2019				17,772,753
Ending balance at Jul. 31, 2019	228,117			$ 178	160,200	57,309				(5,130)			15,560
Ending balance, temporary equity at Jul. 31, 2019		1,479	9,331
Beginning balance (in shares) at Oct. 31, 2019				17,756,180
Beginning balance at Oct. 31, 2019	221,688			$ 178	160,254	53,089				(7,255)		$ 0	15,422
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends Common	(1,338)					(1,338)
Dividends Preferred		(32)	(93)					(32)	(93)
Stock compensation (in shares)				112,841
Stock compensation	829			$ 1	828
Exchange of common stock (in shares)				(11,314)
Exchange of common stock	(213)				(213)
Net income (loss)	(6,904)					(6,427)							(477)
Other comprehensive income (loss), net of tax	(1,120)									(1,132)			12
Ending balance (in shares) at Jan. 31, 2020				17,857,707
Ending balance at Jan. 31, 2020	212,817			$ 179	160,869	45,199				(8,387)		0	14,957
Beginning balance, temporary equity at Oct. 31, 2019		1,479	9,331
Ending balance, temporary equity at Jan. 31, 2020		1,479	9,331
Beginning balance (in shares) at Oct. 31, 2019				17,756,180
Beginning balance at Oct. 31, 2019	221,688			$ 178	160,254	53,089				(7,255)		0	15,422
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(10,410)
Ending balance (in shares) at Jul. 31, 2020				17,857,707
Ending balance at Jul. 31, 2020	207,552			$ 179	161,655	39,695				(7,261)		(562)	13,846
Beginning balance, temporary equity at Oct. 31, 2019		1,479	9,331
Ending balance, temporary equity at Jul. 31, 2020		1,479	9,331
Beginning balance (in shares) at Jan. 31, 2020				17,857,707
Beginning balance at Jan. 31, 2020	212,817			$ 179	160,869	45,199				(8,387)		0	14,957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends Common	(1,341)					(1,341)
Dividends Preferred		(32)	(93)					(32)	(93)
Stock compensation (in shares)				0
Stock compensation	358			$ 0	358
Noncontrolling interest adjustment	(145)												(145)
Net income (loss)	(5,306)					(4,883)							(423)
Other comprehensive income (loss), net of tax	(418)									(419)			1
Ending balance (in shares) at Apr. 30, 2020				17,857,707
Ending balance at Apr. 30, 2020	205,840			$ 179	161,227	38,850				(8,806)		0	14,390
Beginning balance, temporary equity at Jan. 31, 2020		1,479	9,331
Ending balance, temporary equity at Apr. 30, 2020		1,479	9,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends Common	(1,338)					(1,338)
Dividends Preferred		(33)	(93)					$ (33)	$ (93)
Stock compensation (in shares)				0
Stock compensation	428			$ 0	428
Treasury shares (42,100)	(562)											(562)
Net income (loss)	1,800					2,309							(509)
Other comprehensive income (loss), net of tax	1,510									1,545			(35)
Ending balance (in shares) at Jul. 31, 2020				17,857,707
Ending balance at Jul. 31, 2020	$ 207,552			$ 179	$ 161,655	$ 39,695				$ (7,261)		$ (562)	$ 13,846
Ending balance, temporary equity at Jul. 31, 2020		$ 1,479	$ 9,331

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND TEMPORARY EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019
Dividends - Common (in dollars per share)	$ 0.075	$ 0.075	$ 0.075	$ 0.075	$ 0.075	$ 0.075
Treasury stock (in shares)	42,100
Series B Preferred Stock
Dividends - Preferred (in dollars per share)	$ 2.19	2.19	2.19	2.19	2.19	2.19
Series B2 Preferred Stock
Dividends - Preferred (in dollars per share)	$ 10	$ 10	$ 10	$ 10	$ 10	$ 10

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Operating activities
Net income (loss)	$ (10,410)	$ (2,253)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	7,555	6,327
Loss (gain) on disposals of assets	519	(11)
Stock compensation expense	1,615	1,436
Non-cash lease expense	349	0
Equity in earnings of investments	(341)	(2,449)
Cash distributions from equity investments	0	458
Deferred income taxes	(581)	(216)
Accrued interest on notes receivable	(19)	(146)
Loss on stock in Calavo Growers, Inc.	6,299	2,073
Changes in operating assets and liabilities:
Accounts receivable	(6,367)	(10,014)
Cultural costs	1,118	1,644
Prepaid expenses and other current assets	(1,811)	(4,692)
Income taxes receivable	(4,848)	0
Other assets	108	(39)
Accounts payable and growers payable	(2,969)	15,505
Accrued liabilities	(1,472)	(3,206)
Other long-term liabilities	(139)	(143)
Net cash (used in) provided by operating activities	(11,394)	4,274
Investing activities
Capital expenditures	(8,189)	(12,613)
Agriculture property acquisition	0	(397)
Business combination	0	(15,000)
Net proceeds from sale of stock in Calavo Growers, Inc.	11,048	952
Loan to Limoneira Lewis Community Builders, LLC	(1,800)	0
Collections on loan and note receivable	1,800	150
Equity investment contributions	(2,800)	(4,000)
Investments in mutual water companies	(55)	(472)
Insurance proceeds received	250	0
Net cash provided by (used in) investing activities	254	(31,380)
Financing activities
Borrowings of long-term debt	94,080	95,321
Repayments of long-term debt	(77,363)	(63,163)
Dividends paid – common	(4,017)	(3,998)
Dividends paid – preferred	(376)	(376)
Exchange of common stock	(213)	(305)
Purchase of treasury stock	(562)	0
Payments of deferred financing costs	(70)	0
Net cash provided by financing activities	11,479	27,479
Effect of exchange rate changes on cash	(77)	(39)
Net increase in cash	262	334
Cash at beginning of period	616	609
Cash at end of period	878	943
Supplemental disclosures of cash flow information
Cash paid during the period for interest, net of amounts capitalized	1,666	2,018
Cash paid during the period for income taxes, net of (refunds received)	(361)	130
Non-cash investing and financing activities:
Decrease in real estate development and sale-leaseback deferral	0	(58,330)
Reclassification from real estate development to equity in investments	0	(33,353)
Capital expenditures accrued but not paid at period-end	$ 2,806	$ 199

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	1 Months Ended
	Aug. 31, 2020	Feb. 29, 2020	Dec. 31, 2018
Decrease in real estate development and sale lease-back deferral			$ 58,330
Reclassification from joint venture to equity in investments			$ 33,353
Farm Credit West
Annual dividend patronage received		$ 966
Reduction in interest expense		667
Reduction in real estate development assets		$ 299
Farm Credit West \| Subsequent Event
Annual dividend patronage received	$ 600
Reduction in interest expense	400
Reduction in real estate development assets	$ 200

Organization and Basis of Presentation	9 Months Ended
Organization and Basis of Presentation	Jul. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Business Limoneira Company (together with its consolidated subsidiaries, the “Company”) engages primarily in growing citrus and avocados, picking and hauling citrus, and packing, marketing and selling lemons. The Company is also engaged in residential rentals and other rental operations and real estate development activities. The Company markets and sells lemons directly to food service, wholesale and retail customers throughout the United States, Canada, Asia, Europe and other international markets. The Company is a member of Sunkist Growers, Inc. (“Sunkist”), an agricultural marketing cooperative, and sells its oranges, specialty citrus and other crops to Sunkist-licensed and other third-party packinghouses. The Company sells the majority of its avocado production to Calavo Growers, Inc. (“Calavo”), a packing and marketing company listed on the NASDAQ Global Select Market under the symbol CVGW. Calavo’s customers include many of the largest retail and food service companies in the United States and Canada. Calavo packs the Company’s avocados, which are then sold and distributed under Calavo brands to its customers. Basis of Presentation and Preparation The accompanying unaudited interim consolidated financial statements include the accounts of the Company and the accounts of all the subsidiaries and investments in which the Company holds a controlling interest. Intercompany accounts and transactions have been eliminated. In the opinion of the Company, the unaudited interim consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these unaudited interim consolidated financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain information and footnote disclosures normally included in the annual consolidated financial statements have been condensed or omitted pursuant to the rules and regulations of the SEC. Because the consolidated financial statements do not include all of the information and notes required by GAAP for a complete set of consolidated financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K.

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Jul. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Changes in Accounting Policies On November 1, 2019, the Company adopted Financial Accounting Standards Board ("FASB") - Accounting Standards Update ("ASU") 2016-02, Leases (as amended, "ASU 2016-02" or the "New Lease Standard"). A lease is defined as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company enters into contracts that are, or contain, leases as both a lessee and a lessor. The following accounting policies have been updated as part of the adoption of the New Lease Standard. Leases Accounting for Operating Leases as a Lessee - In its ordinary course of business, the Company enters into leases as a lessee generally for agricultural land and packinghouse equipment. The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in other assets, accrued liabilities and other long-term liabilities on its consolidated balance sheets. Operating lease right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease, measured on a discounted basis. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As none of the Company’s leases provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet as the Company has elected to recognize lease expense for these leases on a straight-line basis over the lease term. The Company has material leases with related parties which are further described in Note 15 - Related-Party Transactions. 2. Summary of Significant Accounting Policies (continued) Leases (continued) Certain of the Company’s agricultural land agreements contain variable costs based on a percentage of the operating results of the leased property. Such variable lease costs are expensed as incurred. These land agreements also contain costs for non-lease components, such as water usage, which the Company accounts for separately from the lease components. For all other agreements, the Company generally combines lease and non-lease components in calculating the ROU assets and lease liabilities. See Note 13 - Leases for additional information. Accounting for Leases as a Lessor - Leases in which the Company acts as the lessor include land, residential and commercial units and are all classified as operating leases. Certain of the Company’s contracts contain variable income based on a percentage of the operating results of the leased asset. Certain of the Company’s contracts contain non-lease components such as water, utilities and common area services. The Company has elected to not separate lease and non-lease components for its lessor arrangements and the combined component is accounted for entirely under Accounting Standards Codification ("ASC") 842, Leases. The underlying asset in an operating lease arrangement is carried at depreciated cost within property, plant, and equipment, net on the consolidated balance sheets. Depreciation is calculated using the straight-line method over the useful life of the underlying asset. The Company recognizes operating lease revenue on a straight-line basis over the lease term. Comprehensive Income (Loss) Comprehensive income (loss) represents all changes in a company’s net assets, except changes resulting from transactions with shareholders, and is reported as a component of the Company’s stockholders’ equity. As of July 31, 2020, the components of accumulated other comprehensive loss, net of tax, consist of accumulated foreign currency translation losses of $2,838,000 and accumulated pension losses of $4,423,000. As of October 31, 2019, accumulated other comprehensive loss consisted of accumulated foreign currency translation losses of $2,362,000, accumulated pension losses of $4,753,000 and accumulated losses related to available for sale securities of $140,000. Reclassifications and Adjustments Certain reclassifications have been made to the prior years’ consolidated financial statements to conform to the July 31, 2020 presentation. The Company reclassified receivables/other from related parties and payables to related parties of $2,985,000 and $906,000, respectively, as of October 31, 2019, from accounts receivable, net, and accrued liabilities, respectively. Recent Accounting Pronouncements FASB ASU 2016-02, Leases (Topic 842) and related ASUs, including ASU 2018-11, Leases (Topic 842): Targeted Improvements In February 2016, the FASB issued ASU 2016-02, which requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. In July 2018, the FASB issued ASU 2018-11 which, among other things, provides administrative relief by allowing entities to implement the lease standard on a modified retrospective basis (the "Optional Transition Method"). Effectively, the Optional Transition Method permits companies to adopt the lease standard through a cumulative effect adjustment to their opening balance sheet on the date of adoption and report under the New Lease Standard on a post-adoption basis. The Company adopted ASU 2016-02 effective November 1, 2019 using the Optional Transition Method. The Company elected the package of practical expedients permitted under the transition guidance, which allows the Company to carry forward its historical lease classification, its assessment of whether a contract is or contains a lease, and its initial direct costs for any leases that existed prior to adoption of the New Lease Standard. The Company elected the hindsight practical expedient, which permits the use of hindsight when determining lease term and impairment of ROU assets. The Company did not elect to combine lease and non-lease components for land leases but elected to combine lease and non-lease components for all other asset classes. The Company also elected to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in 2. Summary of Significant Accounting Policies (continued) Recent Accounting Pronouncements (continued) the consolidated statements of operations on a straight-line basis over the lease term. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company updated its accounting policies, processes and internal controls in order to meet the New Lease Standard's reporting and disclosure requirements. The adoption of ASU 2016-02 had a material impact on the Company's consolidated balance sheets, but did not have a material impact on its consolidated statements of operations or its consolidated statements of cash flows. Upon adoption as of November 1, 2019, the Company recorded ROU assets of $2,400,000 and lease liabilities of $2,500,000 for operating leases in which the Company is a lessee. The adoption also included an immaterial reclassification of accrued rent liabilities against the ROU asset balance. As of November 1, 2019, there were no material finance leases for which the Company was a lessee. The adoption of ASU 2016-02 did not change the Company’s accounting for its operating leases in which it acts as the lessor. See Note 13 - Leases for additional information. FASB ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and related ASUs This amendment requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. ASU 2016-13 is effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early application is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company does not expect this ASU to have a material impact on its consolidated financial statements. FASB ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans This amendment adds, removes and clarifies the disclosure requirements for employers that sponsor defined benefit pension or other post retirement plans. For public business entities, the amendments are effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company is evaluating the effect this ASU may have on its consolidated financial statements. FASB ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This amendment removes specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether certain exceptions apply in a given period. The amendment also improves financial statement preparers’ application of income tax-related guidance and simplifies GAAP under certain situations. ASU 2019-12 is effective for public business entities, for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. An entity that elects early adoption in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption should adopt all the amendments in the same period. The Company early adopted this ASU as of November 1, 2019 and the adoption did not have a material impact on its consolidated financial statements. FASB ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity This amendment simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument and more convertible preferred stock as a single equity instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted earnings per share (EPS) calculation in certain areas. 2. Summary of Significant Accounting Policies (continued) Recent Accounting Pronouncements (continued) ASU 2020-06 is effective for public business entities that meet the definition of a SEC filer for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2020. The Company is evaluating the effect this ASU may have on its consolidated financial statements. Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") On March 27, 2020, the CARES Act was signed into law. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, the creation of certain refundable employee retention credits, and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company has evaluated the impact on its consolidated financial statements at July 31, 2020 and has recorded a discrete tax benefit of $1,950,000 and an income tax refund of $5,801,000 due to our ability to carryback and obtain federal tax refund by utilizing net operating losses under the provisions of the CARES Act. The Company anticipates it will benefit from the utilization of net operating losses, the technical correction for qualified leasehold improvements eligible for 100% tax bonus depreciation and potentially other provisions within the CARES Act. SEC Final Rule Release No. 33-10786, Amendments to Financial Disclosures About Acquired and Disposed Businesses On May 20, 2020, the SEC issued a final rule that amends the financial statement requirements for acquisitions and dispositions of businesses, including real estate operations, and related pro forma financial information. As noted in the final rule, the amendments “are intended to improve for investors the financial information about acquired or disposed businesses, facilitate more timely access to capital, and reduce the complexity and costs to prepare the disclosure.” Among other changes, the final rule modifies the significance tests and improves the disclosure requirements for (1) acquired or to be acquired businesses, (2) real estate operations, and (3) pro forma financial information. The final rule is applicable for a registrant’s fiscal year beginning after December 31, 2020 with early application permitted. The Company early adopted the final rule effective July 31, 2020 and the adoption did not have a material impact on its consolidated financial statements.

Acquisitions

9 Months Ended

Jul. 31, 2020

Business Combinations [Abstract]

Acquisitions

Business Combination

Trapani Fresh

On May 30, 2019, the Company acquired a 51% interest in a joint venture, Trapani Fresh, formed with FGF Trapani (“FGF”), a multi-generational, family-owned citrus operation in Argentina. To consummate the transaction, the Company formed a subsidiary under the name Limoneira Argentina S.A.U. (“Limoneira Argentina”) as the managing partner and acquired a 51% interest in an Argentine Trust that holds a 75% interest in Finca Santa Clara (“Santa Clara”), a ranch with approximately 1,200 acres of planted lemons. Trapani Fresh controls the trust and grows, packs, markets and sells fresh citrus. Total consideration paid for the Company’s interest in Trapani Fresh was $15,000,000 and transaction costs of approximately $654,000 were included in selling, general and administrative expense during the fiscal year ended October 31, 2019.

In February 2020, FGF agreed to a decrease in the purchase consideration of $152,000 to reflect profits that Limoneira Argentina would have received had the transaction been consummated at the beginning of the 2019 lemon export season. The Company has recorded a receivable from FGF, a decrease in non-controlling interest and a decrease in goodwill.

Below is a summary of the fair value of the net assets acquired on the acquisition date based on a third-party valuation, which was finalized during the second quarter of fiscal year 2020 (in thousands):

3. Acquisitions

Business Combination (continued)


Cultural costs	$	3,270
Land and land improvements	9,520
Buildings and improvements	870
Orchards	8,410
Customer relationships, trademarks and non-competition agreement (10-year useful life)	6,920
Goodwill	123
Total assets acquired	29,113
Noncontrolling interest	(14,265)
Net cash paid	$	14,848

Goodwill of $123,000 relates to synergies of the operations, has been allocated to the fresh lemons segment and is not deductible for tax purposes. Revenue of $14,651,000 and net income of $999,000 of Trapani Fresh were included in the Company’s consolidated statement of operations from the acquisition date to the period ended October 31, 2019. The unaudited, pro forma consolidated statement of operations as if Trapani Fresh had been included in the consolidated results of the Company for the years ended October 31, 2019 and 2018 would have resulted in revenues of $177,625,000 and $153,033,000, respectively, and net (loss) income of $(6,092,000) and $21,942,000, respectively.

Fair Value Measurements

9 Months Ended

Jul. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Under the FASB ASC 820, Fair Value Measurement and Disclosures, a fair value measurement is determined based on the assumptions that a market participant would use in pricing an asset or liability. A three-tiered hierarchy draws distinctions between market participant assumptions based on (i) observable inputs such as quoted prices in active markets (Level 1), (ii) inputs other than quoted prices in active markets that are observable either directly or indirectly (Level 2) and (iii) unobservable inputs that require the Company to use present value and other valuation techniques in the determination of fair value (Level 3).

The following table sets forth the Company’s financial assets as of October 31, 2019, which were measured on a recurring basis during the period, segregated by level within the fair value hierarchy (in thousands):


October 31, 2019	Level 1		Level 2		Level 3		Total
Assets at fair value:
Equity securities	$	17,346	$	—	$	—	$	17,346

Equity securities consisted of marketable securities in Calavo common stock. At October 31, 2019, the Company owned 200,000 shares which represented approximately 1.1% of Calavo’s outstanding common stock at a stock price of $97.00 per share. These securities were measured at fair value by quoted market prices and changes in fair value were included in the statement of operations.

In March 2020, the Company sold all 200,000 shares of Calavo common stock for a total of $11,048,000, recognizing a loss of $6,299,000 for the nine months ended July 31, 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Concentrations and Geographic Information	9 Months Ended
Concentrations and Geographic Information	Jul. 31, 2020
Risks and Uncertainties [Abstract]
Concentrations and Geographic Information	Concentrations and Geographic Information Lemons procured from third-party growers were 64% and 59% of the Company's lemon supply in the three months ended July 31, 2020 and 2019, respectively. Lemons procured from third-party growers were 60% and 59% of the Company's lemon supply in the nine months ended July 31, 2020 and 2019, respectively. The Company sells the majority of its avocado production to Calavo and the majority of its oranges and specialty citrus to a third-party packinghouse. One individual customer represented 11% of accounts receivable, net as of July 31, 2020. Concentrations of credit risk with respect to trade receivables are limited due to a large, diverse customer base. 5. Concentrations and Geographic Information (continued) During the three and nine months ended July 31, 2020, the Company had approximately $643,000 and $2,103,000, respectively, of lemon and orange sales in Chile by PDA and San Pablo and $9,626,000 and $12,105,000, respectively, of lemon and orange sales in Argentina by Trapani Fresh. During the three and nine months ended July 31, 2019, the Company had approximately $1,053,000 and $2,598,000, respectively, of lemon and orange sales in Chile by PDA and San Pablo. In addition, during the three and nine months ended July 31, 2019, the Company had approximately $11,685,000 of lemon sales in Argentina by Trapani Fresh.

Prepaid Expenses and Other Current Assets

9 Months Ended

Jul. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	July 31, 2020		October 31, 2019
Prepaid supplies and insurance	$	2,554	$	3,199

Note receivable and related interest	2,490		181
Real estate development held for sale	2,543		2,543
Property held for sale	5,982		—
Lemon supplier advances and other	4,740		2,230
	$	18,309	$	8,153

In June 2020, the Company entered into an agreement to sell a property, located in Lindsay, California, for $6,000,000. The transaction closed on August 26, 2020 with the Company receiving net proceeds of $6,011,000. After transaction and other costs, the Company recorded a loss of approximately $300,000 and classified the $5,982,000 carrying value of the property as held for sale as of July 31, 2020.

Real Estate Development

9 Months Ended

Jul. 31, 2020

Real Estate [Abstract]

Real Estate Development

Real estate development assets are comprised primarily of land and land development costs and consist of the following (in thousands):


	July 31, 2020		October 31, 2019

Retained Property - East Area I	$	13,251	$	11,943
East Area II	6,891		5,659

	$	20,142	$	17,602

East Area I, Retained Property and East Area II

In fiscal year 2005, the Company began capitalizing the costs of two real estate development projects east of Santa Paula, California, for the development of 550 acres of land into residential units, commercial buildings and civic facilities. On November 10, 2015 (the “Transaction Date”), the Company entered into a joint venture with The Lewis Group of Companies (“Lewis”) for the residential development of its East Area I real estate development project. To consummate the transaction, the Company formed Limoneira Lewis Community Builders, LLC (“LLCB” or “Joint Venture”) as the development entity, contributed its East Area I property to LLCB and sold a 50% interest in LLCB to Lewis for $20,000,000.

The Company and the Joint Venture also entered into a Retained Property Development Agreement on the Transaction Date (the "Retained Property Agreement"). Under the terms of the Retained Property Agreement, the Joint Venture transferred certain contributed East Area I property, which is entitled for commercial development, back to the Company (the "Retained Property") and arranged for the design and construction of certain improvements to the Retained Property, subject to certain reimbursements by the Company. The balance includes estimated costs incurred by and reimbursable to LLCB of $3,675,000 at July 31, 2020, which is included in payables to related parties and $1,200,000 at October 31, 2019, which was included in other long-term liabilities.

In January 2018, the Joint Venture entered into a $45,000,000 unsecured Line of Credit Loan Agreement and Promissory Note (the “Loan”) with Bank of America, N.A. to fund early development activities. The Loan originally was scheduled to mature in January

7. Real Estate Development (continued)

East Area I, Retained Property and East Area II (continued)

2020 and was extended to February 22, 2021 per the terms thereof. The interest rate on the Loan is LIBOR plus 2.85% and is payable monthly. The Loan contains certain customary default provisions and the Joint Venture may prepay any amounts outstanding under the Loan without penalty. The extension had no impact on the Company's Loan guarantee $1,080,000 value as of July 31, 2020.

In February 2018, certain principals from Lewis and by the Company guaranteed the obligations under the Loan. The guarantee shall continue in effect until all of the Loan obligations are fully paid and the guarantors are jointly and severally liable for all Loan obligations in the event of default by the Joint Venture. The Joint Venture recorded the Loan balance of $39,404,000 as of July 31, 2020.

The Company made contributions to the Joint Venture of $2,800,000 and $4,000,000 in the nine months ended July 31, 2020 and 2019, respectively. Additionally, in February 2020 the Company and Lewis each loaned $1,800,000 to the Joint Venture at an interest rate of 4.6% originally due May 31, 2020 and extended to August 31, 2020, which was repaid in June 2020.

Other Real Estate Development Projects

The remaining real estate development parcel within the Templeton Santa Barbara, LLC project is described as Sevilla. In the first quarter of fiscal year 2020, the Company entered into an agreement to sell its Sevilla property for $2,700,000, which is expected to close in the first quarter of fiscal year 2021. After transaction and other costs, the Company expects to receive cash proceeds of approximately $2,550,000 and recognize an immaterial gain upon closing. At July 31, 2020, the $2,543,000 carrying value of the property was classified as held for sale and included in prepaid expenses and other current assets.

During December 2017, the Company sold its Centennial property with a net book value of $2,983,000 for $3,250,000. The Company received cash and a $3,000,000 promissory note secured by the property for the balance of the purchase. The promissory note was originally scheduled to mature in December 2019 but was extended to December 15, 2020 and the interest rate was reset to equal to the 6-month LIBOR plus 2.75% on the outstanding principal balance of the note, interest only paid monthly on the first day of each month beginning January 1, 2020. At July 31, 2020, the net carrying value of the note was $2,490,000 and classified in prepaid expenses and other current assets.

Equity in Investments

9 Months Ended

Jul. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity in Investments

Equity in investments consist of the following (in thousands):


	July 31, 2020		October 31, 2019
Limoneira Lewis Community Builders, LLC	$	57,424	$	54,016
Limco Del Mar, Ltd.	1,968		1,950
Rosales	1,344		1,745
Romney Property Partnership	509		512
	$	61,245	$	58,223

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, 2019, this threshold was met for LLCB and thus summarized income statement information is presented in this Quarterly Report on Form 10-Q.

8. Equity in Investments (continued)

The following is unaudited summarized financial information for LLCB (in thousands):


	Nine Months Ended July 31,
	2020		2019
Revenues	$	25,716	$	36,551
Cost of land sold	21,614		26,770
Operating expenses	848		445
Net income	$	3,254	$	9,336
Net income attributable to Limoneira Company	$	1,659	$	4,021

Goodwill and Intangible Assets

9 Months Ended

Jul. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

A summary of the change in the carrying amount of goodwill is as follows (in thousands):


	Goodwill Net Carrying Amount
October 31, 2019	$	1,839
Trapani Fresh purchase price adjustment	(297)
Foreign currency translation adjustment	(4)
July 31, 2020	$	1,538

See Note 3 - Acquisitions for additional information regarding the acquisition of Trapani Fresh.

Goodwill is tested for impairment on an annual basis or when an event or changes in circumstances indicate that its carrying value may not be recoverable. There have been no impairment charges recorded against goodwill as of July 31, 2020.

Intangible assets consisted of the following as of July 31, 2020 and October 31, 2019 (in thousands):


	July 31, 2020													October 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years

Trade names and trademarks	$	3,786	$	(801)	$	2,985	10	$	3,786	$	(542)	$	3,244	10
Customer relationships	5,010		(914)		4,096		9	5,010		(500)		4,510		9
Non-competition agreement	1,040		(121)		919		10	1,040		(42)		998		10
Acquired water and mineral rights	3,609		—		3,609		Indefinite	3,655		—		3,655		Indefinite
	$	13,445	$	(1,836)	$	11,609		$	13,491	$	(1,084)	$	12,407

Amortization expense totaled $262,000 and $205,000 for the three months ended July 31, 2020 and 2019, respectively. Amortization expense totaled $752,000 and $383,000 for the nine months ended July 31, 2020 and 2019, respectively.

9. Goodwill and Intangible Assets (continued)

Estimated future amortization expense of intangible assets as of July 31, 2020 are as follows (in thousands):


2020 (excluding the nine months ended July 31, 2020)	$	285
2021	1,027
2022	976
2023	976
2024	976
Thereafter	3,760
	$	8,000

Other Assets	9 Months Ended
Other Assets	Jul. 31, 2020
Other Assets [Abstract]
Other Assets	Other AssetsInvestments in Mutual Water CompaniesThe Company’s investments in various not-for-profit mutual water companies provide the Company with the right to receive a proportionate share of water from each of the not-for-profit mutual water companies that have been invested in and do not constitute voting shares and/or rights. Amounts included in other assets in the consolidated balance sheets as of July 31, 2020 and October 31, 2019 were $5,554,000 and $5,499,000, respectively.

Accrued Liabilities

9 Months Ended

Jul. 31, 2020

Accounts Payable and Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	July 31, 2020		October 31, 2019
Compensation	$	1,787	$	1,973
Property taxes	442		652
Lemon and orange supplier payables	—		899
Operating expenses	2,178		3,191
Other	1,764		1,546

	$	6,171	$	8,261

Long-Term Debt

9 Months Ended

Jul. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt is comprised of the following (in thousands):


	July 31, 2020		October 31, 2019
Farm Credit West revolving and non-revolving lines of credit: the interest rate of the revolving line of credit is variable based on the one-month London Interbank Offered Rate (“LIBOR”), which was 0.18% at July 31, 2020, plus 1.60%. The interest rate for the $40.0 million outstanding balance of the non-revolving line of credit was fixed at 4.77%. Interest is payable monthly and the principal is due in full on July 1, 2022.	$	101,527	$	82,843
Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 2.48%. The loan is payable in quarterly installments through November 2022.	1,590		2,035
Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 3.24%. The loan is payable in monthly installments through October 2035.	1,042		1,078
Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 3.24%. The loan is payable in monthly installments through March 2036.	8,538		8,823
Farm Credit West term loan: Effective July 1, 2020 the interest rate was fixed at 2.77% until July 1, 2025, becoming variable for the remainder of the loan. The loan is payable in monthly installments through March 2036.	6,301		6,522
Wells Fargo term loan: the interest rate is fixed at 3.58%. The loan is payable in monthly installments through January 2023.	3,862		4,955
Banco de Chile term loan: the interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	1,478		1,386
Note Payable: the interest rate ranges from 5.00% to 7.00% and was 6.00% at July 31, 2020. The loan includes interest only monthly payments and principal is due in February 2023.	1,435		1,435
Subtotal	125,773		109,077
Less deferred financing costs, net of accumulated amortization	188		162
Total long-term debt, net	125,585		108,915
Less current portion	3,426		3,023
Long-term debt, less current portion	$	122,159	$	105,892

The Company and Farm Credit West, FLCA (“Farm Credit West”) are parties to that certain Master Loan Agreement (the “Loan Agreement”), dated June 20, 2017, which includes a Revolving Credit Supplement and a Non-Revolving Credit Supplement (together, the “Supplements”).

On June 30, 2020, the Company and Farm Credit West entered into a Conversion Agreement to convert the term loans noted above to fixed interest rates effective July 1, 2020. No changes were made to the outstanding principal balances on the term loans and no cash repayments of principal were made by the Company. The rates are subject to a prepayment restriction period for a portion of the fixed rate term that will expire on January 1, 2021, after which the Company may prepay any amounts without penalty.

In March 2020, the Company entered into a revolving equity line of credit promissory note and loan agreement with Farm Credit West for a $15,000,000 Revolving Equity Line of Credit (the "RELOC") secured by a first lien on the Windfall Investors, LLC property. The RELOC matures in 2043 and features a 3-year draw period followed by 20 years of fully amortized loan payments. The interest rate is variable with monthly interest-only payments during the 3-year draw period and monthly principal and interest payments thereafter.

The Supplements and RELOC provide aggregate borrowing capacity of $130,000,000 comprised of $75,000,000 under the Revolving Credit Supplement, $40,000,000 under the Non-Revolving Credit Supplement and $15,000,000 under the RELOC. The borrowing capacity based on collateral value was $130,000,000 at July 31, 2020.

All indebtedness under the Loan Agreement and RELOC with Farm Credit West, including any indebtedness under the Supplements, is secured by a first lien on certain of its agricultural properties in Tulare, Ventura and San Luis Obispo counties in California and certain of the Company's building fixtures and improvements and investments in mutual water companies associated with the pledged agricultural properties. The Loan Agreement includes customary default provisions that provide should an event of default occur, Farm Credit West, at its option, may declare all or any portion of the indebtedness under the Loan Agreement to be immediately due and payable without demand, notice of non-payment, protest or prior recourse to collateral, and terminate or suspend the Company's right to draw or request funds on any loan or line of credit.

12. Long-Term Debt (continued)

In December 2019, Farm Credit West declared an annual cash patronage dividend of 1.00% of average eligible loan balances. The Company received $966,000 in February 2020. In July 2020, Farm Credit West declared an additional annual cash patronage dividend of $600,000, which the Company received in August 2020.

Under the Loan Agreement the Company is required to comply with a minimum debt service coverage ratio (as calculated in accordance with the Loan Agreement) of 1.25:1.0 measured as of October 31 each year. On May 29, 2020, the Loan Agreement was amended to adjust the debt service ratio to 1.00:1.0 for October 31, 2020. In August 2020, Farm Credit West modified the covenant to defer measurement at October 31, 2020 and revert to a debt service coverage ratio of 1.25:1.0 measured as of October 31, 2021.

Capitalized interest is included in property, plant and equipment and real estate development assets in the Company’s consolidated balance sheets. The Company capitalized interest of $353,000 and $366,000 during the three months ended July 31, 2020 and 2019, respectively, and $797,000 and $977,000 during the nine months ended July 31, 2020 and 2019, respectively.

Leases

9 Months Ended

Jul. 31, 2020

Leases [Abstract]

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 23 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 the dates indicated (in thousands):


	July 31, 2020		October 31, 2019
Land	$	1,234	$	1,279
Buildings, equipment and building improvements	18,478		22,841
Less accumulated depreciation	(5,512)		(7,551)
Property, plant and equipment, net under operating leases	$	14,200	$	16,569

Depreciation expense for assets under operating leases was approximately $159,000 and $485,000 for the three and nine months ended July 31, 2020.

The Company’s rental operations revenue consists of the following (in thousands):


	Three Months Ended July 31, 2020		Nine Months Ended July 31, 2020
Operating lease revenue	$	1,078	$	3,235
Variable lease revenue	94		242
Total lease revenue	$	1,172	$	3,477

The future minimum lease payments to be received by the Company related to these operating lease agreements as of July 31, 2020 are as follows (in thousands):


2020 (excluding the nine months ended July 31, 2020)	$	309
2021	701
2022	508
2023	379
2024	42
Thereafter	758
Total	$	2,697

13. Leases (continued)

Lessee Arrangements

The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are typically classified as operating leases. The Company’s lease contracts are generally for agricultural land and packinghouse equipment with remaining lease terms ranging from one to 18 years, with various term extensions available. The Company’s lease agreements do not contain any residual value guarantees or material restrictive covenants. 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. As of July 31, 2020, there were no material finance leases for which the Company was a lessee.

Operating lease costs were $143,000 and $417,000 for the three and nine months ended July 31, 2020, respectively, which are primarily included in agribusiness costs and expenses in the Company’s consolidated statements of operations. Variable and short term lease costs were immaterial.

Supplemental balance sheet information related to leases consists of the following (in thousands):


	Classification	July 31, 2020
Assets
Operating lease ROU assets	Other assets	$	2,174

Liabilities and Stockholders' Equity
Current operating lease liabilities	Accrued liabilities	600
Non-current operating lease liabilities	Other long-term liabilities	1,637
Total operating lease liabilities		$	2,237

Weighted-average remaining lease term (in years)		10.8
Weighted-average discount rate		3.8		%

Supplemental cash flow information related to leases consists of the following (in thousands):


	Three Months Ended July 31, 2020		Nine Months Ended July 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	126	$	432

ROU assets obtained in exchange for new operating lease liabilities	$	108	$	108

Future minimum lease payments under non-cancellable leases for the remainder of fiscal year 2020, each of the subsequent four fiscal years and thereafter are as follows (in thousands):


2020 (excluding the nine months ended July 31, 2020)	$	128
2021	509
2022	358
2023	182
2024	151
Thereafter	1,449
Total lease payments	2,777
Less: Imputed interest	(540)
Total	$	2,237

13. Leases (continued)

In addition to operating lease commitments, the Company also has a contract for pollination services which does not meet the definition of a lease, with minimum future payments of $77,000 for the remainder of fiscal year 2020, $307,000 for each of the fiscal years 2021 and 2022 and $51,000 in fiscal year 2023.

A summary of the Company’s future minimum payments for obligations under non-cancellable operating leases as of October 31, 2019 was as follows (in thousands):


2020	$	688
2021	492
2022	291
2023	154
2024	134
Thereafter	1,382
	$	3,141

Leases

Lessor Arrangements

The following table presents the components of the Company’s operating lease portfolio included in property, plant and equipment, net as of the dates indicated (in thousands):


	July 31, 2020		October 31, 2019
Land	$	1,234	$	1,279
Buildings, equipment and building improvements	18,478		22,841
Less accumulated depreciation	(5,512)		(7,551)
Property, plant and equipment, net under operating leases	$	14,200	$	16,569

Depreciation expense for assets under operating leases was approximately $159,000 and $485,000 for the three and nine months ended July 31, 2020.

The Company’s rental operations revenue consists of the following (in thousands):


	Three Months Ended July 31, 2020		Nine Months Ended July 31, 2020
Operating lease revenue	$	1,078	$	3,235
Variable lease revenue	94		242
Total lease revenue	$	1,172	$	3,477

The future minimum lease payments to be received by the Company related to these operating lease agreements as of July 31, 2020 are as follows (in thousands):


2020 (excluding the nine months ended July 31, 2020)	$	309
2021	701
2022	508
2023	379
2024	42
Thereafter	758
Total	$	2,697

13. Leases (continued)

Lessee Arrangements

Supplemental balance sheet information related to leases consists of the following (in thousands):


	Classification	July 31, 2020
Assets
Operating lease ROU assets	Other assets	$	2,174

Liabilities and Stockholders' Equity
Current operating lease liabilities	Accrued liabilities	600
Non-current operating lease liabilities	Other long-term liabilities	1,637
Total operating lease liabilities		$	2,237

Weighted-average remaining lease term (in years)		10.8
Weighted-average discount rate		3.8		%

Supplemental cash flow information related to leases consists of the following (in thousands):


	Three Months Ended July 31, 2020		Nine Months Ended July 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	126	$	432

ROU assets obtained in exchange for new operating lease liabilities	$	108	$	108

Future minimum lease payments under non-cancellable leases for the remainder of fiscal year 2020, each of the subsequent four fiscal years and thereafter are as follows (in thousands):


2020 (excluding the nine months ended July 31, 2020)	$	128
2021	509
2022	358
2023	182
2024	151
Thereafter	1,449
Total lease payments	2,777
Less: Imputed interest	(540)
Total	$	2,237

13. Leases (continued)

A summary of the Company’s future minimum payments for obligations under non-cancellable operating leases as of October 31, 2019 was as follows (in thousands):


2020	$	688
2021	492
2022	291
2023	154
2024	134
Thereafter	1,382
	$	3,141

Basic and Diluted Net Income (Loss) per Share

9 Months Ended

Jul. 31, 2020

Earnings Per Share [Abstract]

Basic and Diluted Net Income (Loss) per Share

Basic net income (loss) per common share is calculated using the weighted-average number of common shares outstanding during the period without consideration of the dilutive effect of conversion of preferred stock. Diluted net income (loss) per common share is calculated using the weighted-average number of common shares outstanding during the period plus the dilutive effect of conversion of unvested, restricted stock and preferred stock. The computations for basic and diluted net income (loss) per common share are as follows (in thousands, except per share amounts):


	Three Months Ended July 31,						Nine Months Ended July 31,
	2020		2019		2020		2019
Basic net income (loss) per common share:
Net income (loss) applicable to common stock	$	2,184	$	(1,115)	$	(9,377)	$	(3,244)
Effect of unvested, restricted stock	(17)		(16)		(50)		(49)
Numerator: Net income (loss) for basic EPS	2,167		(1,131)		(9,427)		(3,293)
Denominator: Weighted average common shares-basic	17,623		17,554		17,607		17,527
Basic net income (loss) per common share	$	0.12	$	(0.06)	$	(0.54)	$	(0.19)


Diluted net income (loss) per common share:
Numerator: Net income (loss) for diluted EPS	$	2,309	$	(1,131)	$	(9,427)	$	(3,293)
Weighted average common shares–basic	17,623		17,554		17,607		17,527
Effect of dilutive unvested, restricted stock and preferred stock	874		—		—		—
Denominator: Weighted average common shares–diluted	18,497		17,554		17,607		17,527
Diluted net income (loss) per common share	$	0.12	$	(0.06)	$	(0.54)	$	(0.19)

Diluted earnings (losses) per common share are computed using the more dilutive method of either the two-class method or the treasury stock method. Unvested stock-based compensation awards that contain non-forfeitable rights to dividends as participating shares are included in computing earnings per share. The Company’s unvested, restricted stock awards qualify as participating shares. The Company excluded 225,000 and 149,000, unvested, restricted shares, as calculated under the treasury stock method, from its computation of diluted earnings (losses) per share for the three months ended July 31, 2020 and 2019, respectively, and 187,000 and 135,000 for the nine months ended July 31, 2020 and 2019, respectively.

Related-Party Transactions

9 Months Ended

Jul. 31, 2020

Related-Party Transactions

The Company has transactions with various related-parties as summarized in the tables below (in thousands):


		July 31, 2020																		October 31, 2019
		Balance Sheet																		Balance Sheet
Ref	Related Party	Receivable/Other from Related Parties		Other Assets		Accounts Payable		Payables to Related Parties		Other Long-Term Liabilities		Receivable/Other from Related Parties		Other Assets		Accounts Payable		Payables to Related Parties			Other Long-Term Liabilities
1	Employees	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—
2	Mutual water companies	$	—	$	—	$	79	$	—	$	—	$	—	$	473	$	11	$	—		$	—
3	Cooperative association	$	—	$	—	$	48	$	—	$	—	$	—	$	—	$	35	$	—		$	—
4	Calavo	$	2,701	$	—	$	1	$	—	$	—	$	—	$	—	$	—	$	—		$	—
5	Third-party growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—
6	Cadiz / Fenner / WAM	$	—	$	1,461	$	—	$	190	$	1,372	$	—	$	—	$	—	$	—		$	—
7	Colorado River Growers	$	297	$	—	$	—	$	—	$	—	$	376	$	—	$	—	$	—		$	—
8	YMIDD	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—
9	FGF	$	446	$	—	$	—	$	1,370	$	—	$	2,609	$	—	$	—	$	906		$	—
10	LLCB	$	—	$	—	$	—	$	3,675	$	—	$	—	$	—	$	—	$	—		$	1,200


		Three Months Ended July 31, 2020																		Three Months Ended July 31, 2019
		Consolidated Statement of Operations																Consolidated Statement of Operations
Ref	Related Party	Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid		Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
1	Employees	$	—	$	195	$	—	$	—	$	—	$	—	$	190	$	—	$	—	$	—
2	Mutual water companies	$	—	$	—	$	211	$	—	$	—	$	—	$	—	$	195	$	—	$	—
3	Cooperative association	$	—	$	—	$	353	$	—	$	—	$	—	$	—	$	302	$	—	$	—
4	Calavo	$	4,724	$	84	$	23	$	—	$	126	$	2,519	$	81	$	261	$	—	$	126
5	Third-party growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	6	$	—	$	—
6	Cadiz / Fenner / WAM	$	—	$	—	$	1	$	—	$	—	$	—	$	—	$	42	$	—	$	—
7	Colorado River Growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
8	YMIDD	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
9	FGF	$	9,626	$	—	$	10,508	$	—	$	—	$	11,685	$	—	$	8,798	$	—	$	—


		Nine Months Ended July 31, 2020																		Nine Months Ended July 31, 2019
		Consolidated Statement of Operations																Consolidated Statement of Operations
Ref	Related Party	Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid		Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
1	Employees	$	—	$	585	$	—	$	—	$	—	$	—	$	550	$	—	$	—	$	—
2	Mutual water companies	$	—	$	—	$	675	$	—	$	—	$	—	$	—	$	593	$	—	$	—
3	Cooperative association	$	—	$	—	$	1,246	$	—	$	—	$	—	$	—	$	1,158	$	—	$	—
4	Calavo	$	6,296	$	249	$	200	$	220	$	377	$	3,062	$	240	$	262	$	250	$	381
5	Third-party growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	386	$	—	$	—
6	Cadiz / Fenner / WAM	$	—	$	—	$	173	$	—	$	—	$	—	$	—	$	130	$	—	$	—
7	Colorado River Growers	$	522	$	—	$	5,337	$	—	$	—	$	306	$	—	$	3,841	$	—	$	—
8	YMIDD	$	—	$	—	$	86	$	—	$	—	$	—	$	—	$	85	$	—	$	—
9	FGF	$	12,105	$	—	$	12,941	$	—	$	—	$	11,685	$	—	$	8,798	$	—	$	—

15. Related-Party Transactions (continued)

⁽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. There were no rental payments due from employees at July 31, 2020 and October 31, 2019.

⁽²⁾ Mutual water companies - The Company has representation on the boards of directors of the mutual water companies in which the Company has investments, refer to Note 10 - Other Assets. The Company recorded capital contributions, purchased water and water delivery services and had water payments due to the mutual water companies.

⁽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 payments due to the cooperative association.

⁽⁴⁾ Calavo - The Company had an investment in Calavo through March 2020 and has representation on the board of directors and Calavo has an investment in the Company. Calavo had representation on the board of directors of the Company through December 2018. The Company recorded dividend income on its investment in Calavo, paid dividends to Calavo and had avocado sales to Calavo. Additionally, the Company leases office space to Calavo, purchased storage services from Calavo and had amounts due to Calavo for those services.

⁽⁵⁾ Third party growers - A member of the Company’s board of directors markets lemons through the Company.

⁽⁶⁾ Cadiz / Fenner / WAM - A member of the Company’s board of directors serves as the CEO, President and a member of the board of directors of Cadiz, Inc. 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 currently leases 670 acres located in eastern San Bernardino County, California. The annual base rental is 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. In 2016, Cadiz assigned this lease to Fenner Valley Farms, LLC (“Fenner”), a subsidiary of Water Asset Management, LLC (“WAM”). An entity affiliated with WAM is the holder of 9,300 shares of the Company's Series B-2 convertible preferred stock. Upon the adoption of ASC 842, the Company recorded a ROU asset and corresponding lease liability.

⁽⁷⁾ Colorado River Growers, Inc. (“CRG”) - The Company has representation on the board of directors of CRG, a non-profit cooperative association of fruit growers engaged in the agricultural harvesting business in Yuma County, Arizona. The Company paid harvest expense to CRG, provided harvest management and administrative services to CRG and had a receivable due from CRG for such services.

⁽⁸⁾ 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 amounts payable to them for such purchases.

⁽⁹⁾ 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. Additionally, FGF provided farming, packing, by-product processing and administrative services to Trapani Fresh. The Company had a payable due to FGF for such fruit purchases and services.

⁽¹⁰⁾ LLCB - Refer to Note 7 - Real Estate Development.

Income Taxes	9 Months Ended
Income Taxes	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe effective tax rate for the nine months ended July 31, 2020 was higher than the federal statutory tax rate of 21% mainly due to a $1,950,000 discrete benefit recorded as a result of the carryback of federal net operating losses to previous years when the federal income tax rate was 34%. The effective tax rate for the nine months ended July 31, 2019 was lower than the federal statutory tax rate of 21.0% primarily due to income attributable to foreign jurisdictions which is taxed at different rates, state taxes, and nondeductible tax items.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Retirement Plans

9 Months Ended

Jul. 31, 2020

Retirement Benefits [Abstract]

Retirement Plans

The Limoneira Company Retirement Plan (the “Plan”) is a noncontributory, defined benefit, single employer pension plan, which provides retirement benefits for all eligible employees. Benefits paid by the Plan are calculated based on years of service, highest five-year average earnings, primary Social Security benefit and retirement age. Effective June 2004, the Company froze the Plan and no additional benefits accrued to participants subsequent to that date.

The Plan is funded consistent with the funding requirements of federal law and regulations. There were funding contributions of zero and $150,000 during the three months ended July 31, 2020 and 2019, respectively. There were funding contributions of zero and $450,000 during the nine months ended July 31, 2020 and 2019, respectively.

The components of net periodic pension cost for the Plan for the three and nine months ended July 31, 2020 and 2019 were as follows (in thousands):


	Three Months Ended July 31,						Nine Months Ended July 31,
	2020		2019		2020		2019
Administrative expenses	$	70	$	47	$	209	$	141
Interest cost	160		207		481		621
Expected return on plan assets	(248)		(272)		(743)		(816)
Prior service cost	11		11		33		33
Recognized actuarial loss	184		101		554		302
Net periodic benefit cost	$	177	$	94	$	534	$	281

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company is from time to time involved in various lawsuits and legal proceedings that arise in the ordinary course of business. At this time, the Company is not aware of any pending or threatened litigation against it that it expects will have a material adverse effect on its business, financial condition, liquidity, or operating results. Legal claims are inherently uncertain, however, and it is possible that the Company’s business, financial condition, liquidity and/or operating results could be adversely affected in the future by legal proceedings.

Stock-based Compensation and Treasury Stock	9 Months Ended
Stock-based Compensation and Treasury Stock	Jul. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation and Treasury Stock	Stock-based Compensation and Treasury Stock Stock-based Compensation The Company has a stock-based compensation plan (the “Stock Plan”) that allows for the grant of common stock of the Company to members of management, key executives and non-employee directors. The fair value of such awards is based on the fair value of the Company’s stock on the date of grant and all are classified as equity awards. Performance Awards Certain restricted stock grants are made to management each December under the Stock Plan based on the achievement of certain annual financial performance and other criteria achieved during the previous fiscal year (“Performance Awards”). The performance grants are based on a percentage of the employee’s base salary divided by the stock price on the grant date once the performance criteria has been met, and generally vest over a two-year period as service is provided. There were no shares of common stock granted to management under the Stock Plan for fiscal year 2019 performance because the financial performance and other criteria were not met. Executive Awards Certain restricted stock grants are made to key executives under the Stock Plan (“Executive Awards”). These grants generally vest over a three to five-year period as service is provided. During December 2019, the Company granted 95,000 shares of common stock with a per share price of $18.87 to key executives under the Stock Plan. The related compensation expense of approximately $1,793,000 will be recognized equally over the next three years as the shares vest. 19. Stock-based Compensation and Treasury Stock (continued) Director Awards The Company issues shares of common stock to non-employee directors under the Stock Plan on an annual basis that vest upon grant (“Director Awards”). During January 2020 and 2019, 17,841 and 15,642 shares, respectively, of common stock were granted as Director Awards. The Company recognized $358,000 and $339,000 of stock-based compensation to non-employee directors during the nine months ended July 31, 2020 and 2019, respectively. During the three months ended January 31, 2020 and 2019, members of management exchanged 11,314 and 20,119 shares, respectively, of common stock with fair values of $213,000 and $305,000, respectively, at the date of the exchanges, for the payment of payroll taxes associated with the vesting of shares under the Company’s stock-based compensation programs. Treasury Stock Share Repurchase Program On March 12, 2020, the Board of Directors of the Company approved a share repurchase program authorizing the Company to repurchase up to $10,000,000 of its outstanding shares of common stock through March 2021. Under the share repurchase program, purchases of shares of common stock may be made from time to time in the open market or in privately negotiated transactions. The share repurchase program may be modified, suspended or discontinued at any time and does not commit the Company to repurchase shares of its common stock. See Part II, Item 2, “Unregistered Sales of Equity Securities and Use of Proceeds” in this Quarterly Report on Form 10-Q for additional information on the share repurchase program.

Segment Information

9 Months Ended

Jul. 31, 2020

Segment Reporting [Abstract]

Segment Information

The Company operates in four reportable operating segments: fresh lemons, lemon packing, avocados and other agribusiness. The Company’s operating segments of rental operations and real estate development are no longer disclosed as separate reportable operating segments and are included in the “Corporate and Other” category in the tables below as they do not meet the quantitative threshold and from a qualitative perspective are not a core focus of the Company's main agribusiness activities. Prior years’ information has been restated to conform to the current year’s presentation. The reportable operating segments of the Company are strategic business units with different products and services, distribution processes and customer bases. The fresh lemons segment includes sales, farming and harvesting expenses and third-party grower costs relative to fresh lemons. The lemon packing segment includes packing revenues and shipping and handling revenues relative to lemon packing. The lemon packing segment expenses are comprised of lemon packing costs. The lemon packing segment revenues include intersegment revenues between fresh lemons and lemon packing. The intersegment revenues are included gross in the segment note and a separate line item is shown as an elimination. The avocados segment includes sales, farming and harvest costs. The other agribusiness segment includes sales, farming and harvest costs of oranges, specialty citrus and other crops. Revenues related to rental operations are included in “Corporate and Other.” Other agribusiness revenues for the three and nine months ended July 31, 2020, consists of oranges of $2,232,000 and $7,171,000, respectively, and specialty citrus and other crops of $788,000 and $3,832,000, respectively. Other agribusiness revenues for the three and nine months ended July 31, 2019, consists of oranges of $711,000 and $3,794,000, respectively, and specialty citrus and other crops of zero and $3,019,000, respectively.

The Company does not separately allocate depreciation and amortization to its fresh lemons, lemon packing, avocados and other agribusiness segments. No asset information is provided for reportable operating segments, as these specified amounts are not included in the measure of segment profit or loss reviewed by the Company’s chief operating decision maker. The Company measures operating performance, including revenues and operating income, of its operating segments and allocates resources based on its evaluation. The Company does not allocate selling, general and administrative expense, other income, interest expense and income taxes, or specifically identify them to its operating segments. The Company earns packing revenue for packing lemons grown on its orchards and lemons procured from third-party growers. Intersegment revenues represent packing revenues related to lemons grown on the Company’s orchards.

20. Segment Information (continued)

Segment information for the three months ended July 31, 2020 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	39,459	$	3,775	$	—	$	6,133	$	3,020	$	52,387	$	1,172	$	53,559
Intersegment revenue	—		16,330		(16,330)		—		—		—		—		—
Total net revenues	39,459		20,105		(16,330)		6,133		3,020		52,387		1,172		53,559
Costs and expenses	39,694		15,988		(16,330)		2,537		2,666		44,555		4,633		49,188
Depreciation and amortization	—		—		—		—		—		2,271		286		2,557
Operating (loss) income	$	(235)	$	4,117	$	—	$	3,596	$	354	$	5,561	$	(3,747)	$	1,814

Segment information for the three months ended July 31, 2019 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	41,169	$	5,232	$	—	$	2,519	$	711	$	49,631	$	1,238	$	50,869
Intersegment revenue	—		10,263		(10,263)		—		—		—		—		—
Total net revenues	41,169		15,495		(10,263)		2,519		711		49,631		1,238		50,869
Costs and expenses	35,653		13,524		(10,263)		1,185		825		40,924		5,747		46,671
Depreciation and amortization	—		—		—		—		—		1,823		257		2,080
Operating income (loss)	$	5,516	$	1,971	$	—	$	1,334	$	(114)	$	6,884	$	(4,766)	$	2,118

Segment information for the nine months ended July 31, 2020 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	100,231	$	11,752	$	—	$	8,323	$	11,003	$	131,309	$	3,477	$	134,786
Intersegment revenue	—		31,889		(31,889)		—		—		—		—		—
Total net revenues	100,231		43,641		(31,889)		8,323		11,003		131,309		3,477		134,786
Costs and expenses	101,006		34,925		(31,889)		4,571		9,990		118,603		18,113		136,716
Depreciation and amortization	—		—		—		—		—		6,715		840		7,555
Operating (loss) income	$	(775)	$	8,716	$	—	$	3,752	$	1,013	$	5,991	$	(15,476)	$	(9,485)

Segment information for the nine months ended July 31, 2019 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	108,090	$	13,289	$	—	$	3,062	$	6,813	$	131,254	$	3,668	$	134,922
Intersegment revenue	—		25,464		(25,464)		—		—		—		—		—
Total net revenues	108,090		38,753		(25,464)		3,062		6,813		131,254		3,668		134,922
Costs and expenses	95,650		32,972		(25,464)		2,822		7,210		113,190		17,312		130,502
Depreciation and amortization	—		—		—		—		—		5,551		776		6,327
Operating income (loss)	$	12,440	$	5,781	$	—	$	240	$	(397)	$	12,513	$	(14,420)	$	(1,907)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Jul. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated events subsequent to July 31, 2020 through the date of this filing, to assess the need for potential recognition or disclosure in this Quarterly Report on Form 10-Q. Based upon this evaluation, except as described in the notes to the interim consolidated financial statements, it was determined that no other subsequent events occurred that require recognition or disclosure in the unaudited consolidated financial statements.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Jul. 31, 2020
Accounting Policies [Abstract]
Leases	Leases Accounting for Operating Leases as a Lessee - In its ordinary course of business, the Company enters into leases as a lessee generally for agricultural land and packinghouse equipment. The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in other assets, accrued liabilities and other long-term liabilities on its consolidated balance sheets. Operating lease right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease, measured on a discounted basis. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As none of the Company’s leases provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet as the Company has elected to recognize lease expense for these leases on a straight-line basis over the lease term. The Company has material leases with related parties which are further described in Note 15 - Related-Party Transactions. 2. Summary of Significant Accounting Policies (continued) Leases (continued) Certain of the Company’s agricultural land agreements contain variable costs based on a percentage of the operating results of the leased property. Such variable lease costs are expensed as incurred. These land agreements also contain costs for non-lease components, such as water usage, which the Company accounts for separately from the lease components. For all other agreements, the Company generally combines lease and non-lease components in calculating the ROU assets and lease liabilities. See Note 13 - Leases for additional information. Accounting for Leases as a Lessor - Leases in which the Company acts as the lessor include land, residential and commercial units and are all classified as operating leases. Certain of the Company’s contracts contain variable income based on a percentage of the operating results of the leased asset. Certain of the Company’s contracts contain non-lease components such as water, utilities and common area services. The Company has elected to not separate lease and non-lease components for its lessor arrangements and the combined component is accounted for entirely under Accounting Standards Codification ("ASC") 842, Leases. The underlying asset in an operating lease arrangement is carried at depreciated cost within property, plant, and equipment, net on the consolidated balance sheets. Depreciation is calculated using the straight-line method over the useful life of the underlying asset. The Company recognizes operating lease revenue on a straight-line basis over the lease term.
Leases	Leases Accounting for Operating Leases as a Lessee - In its ordinary course of business, the Company enters into leases as a lessee generally for agricultural land and packinghouse equipment. The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in other assets, accrued liabilities and other long-term liabilities on its consolidated balance sheets. Operating lease right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease, measured on a discounted basis. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As none of the Company’s leases provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet as the Company has elected to recognize lease expense for these leases on a straight-line basis over the lease term. The Company has material leases with related parties which are further described in Note 15 - Related-Party Transactions. 2. Summary of Significant Accounting Policies (continued) Leases (continued) Certain of the Company’s agricultural land agreements contain variable costs based on a percentage of the operating results of the leased property. Such variable lease costs are expensed as incurred. These land agreements also contain costs for non-lease components, such as water usage, which the Company accounts for separately from the lease components. For all other agreements, the Company generally combines lease and non-lease components in calculating the ROU assets and lease liabilities. See Note 13 - Leases for additional information. Accounting for Leases as a Lessor - Leases in which the Company acts as the lessor include land, residential and commercial units and are all classified as operating leases. Certain of the Company’s contracts contain variable income based on a percentage of the operating results of the leased asset. Certain of the Company’s contracts contain non-lease components such as water, utilities and common area services. The Company has elected to not separate lease and non-lease components for its lessor arrangements and the combined component is accounted for entirely under Accounting Standards Codification ("ASC") 842, Leases. The underlying asset in an operating lease arrangement is carried at depreciated cost within property, plant, and equipment, net on the consolidated balance sheets. Depreciation is calculated using the straight-line method over the useful life of the underlying asset. The Company recognizes operating lease revenue on a straight-line basis over the lease term.
Comprehensive Income (Loss)	Comprehensive Income (Loss)Comprehensive income (loss) represents all changes in a company’s net assets, except changes resulting from transactions with shareholders, and is reported as a component of the Company’s stockholders’ equity.
Reclassifications and Adjustments	Reclassifications and AdjustmentsCertain reclassifications have been made to the prior years’ consolidated financial statements to conform to the July 31, 2020 presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements FASB ASU 2016-02, Leases (Topic 842) and related ASUs, including ASU 2018-11, Leases (Topic 842): Targeted Improvements In February 2016, the FASB issued ASU 2016-02, which requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. In July 2018, the FASB issued ASU 2018-11 which, among other things, provides administrative relief by allowing entities to implement the lease standard on a modified retrospective basis (the "Optional Transition Method"). Effectively, the Optional Transition Method permits companies to adopt the lease standard through a cumulative effect adjustment to their opening balance sheet on the date of adoption and report under the New Lease Standard on a post-adoption basis. The Company adopted ASU 2016-02 effective November 1, 2019 using the Optional Transition Method. The Company elected the package of practical expedients permitted under the transition guidance, which allows the Company to carry forward its historical lease classification, its assessment of whether a contract is or contains a lease, and its initial direct costs for any leases that existed prior to adoption of the New Lease Standard. The Company elected the hindsight practical expedient, which permits the use of hindsight when determining lease term and impairment of ROU assets. The Company did not elect to combine lease and non-lease components for land leases but elected to combine lease and non-lease components for all other asset classes. The Company also elected to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in 2. Summary of Significant Accounting Policies (continued) Recent Accounting Pronouncements (continued) the consolidated statements of operations on a straight-line basis over the lease term. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company updated its accounting policies, processes and internal controls in order to meet the New Lease Standard's reporting and disclosure requirements. The adoption of ASU 2016-02 had a material impact on the Company's consolidated balance sheets, but did not have a material impact on its consolidated statements of operations or its consolidated statements of cash flows. Upon adoption as of November 1, 2019, the Company recorded ROU assets of $2,400,000 and lease liabilities of $2,500,000 for operating leases in which the Company is a lessee. The adoption also included an immaterial reclassification of accrued rent liabilities against the ROU asset balance. As of November 1, 2019, there were no material finance leases for which the Company was a lessee. The adoption of ASU 2016-02 did not change the Company’s accounting for its operating leases in which it acts as the lessor. See Note 13 - Leases for additional information. FASB ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and related ASUs This amendment requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. ASU 2016-13 is effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early application is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company does not expect this ASU to have a material impact on its consolidated financial statements. FASB ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans This amendment adds, removes and clarifies the disclosure requirements for employers that sponsor defined benefit pension or other post retirement plans. For public business entities, the amendments are effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The Company is evaluating the effect this ASU may have on its consolidated financial statements. FASB ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes This amendment removes specific exceptions to the general principles in Topic 740 in GAAP. It eliminates the need for an organization to analyze whether certain exceptions apply in a given period. The amendment also improves financial statement preparers’ application of income tax-related guidance and simplifies GAAP under certain situations. ASU 2019-12 is effective for public business entities, for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. An entity that elects early adoption in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption should adopt all the amendments in the same period. The Company early adopted this ASU as of November 1, 2019 and the adoption did not have a material impact on its consolidated financial statements. FASB ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity This amendment simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument and more convertible preferred stock as a single equity instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted earnings per share (EPS) calculation in certain areas. 2. Summary of Significant Accounting Policies (continued) Recent Accounting Pronouncements (continued) ASU 2020-06 is effective for public business entities that meet the definition of a SEC filer for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2020. The Company is evaluating the effect this ASU may have on its consolidated financial statements. Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") On March 27, 2020, the CARES Act was signed into law. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, the creation of certain refundable employee retention credits, and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property. The Company has evaluated the impact on its consolidated financial statements at July 31, 2020 and has recorded a discrete tax benefit of $1,950,000 and an income tax refund of $5,801,000 due to our ability to carryback and obtain federal tax refund by utilizing net operating losses under the provisions of the CARES Act. The Company anticipates it will benefit from the utilization of net operating losses, the technical correction for qualified leasehold improvements eligible for 100% tax bonus depreciation and potentially other provisions within the CARES Act. SEC Final Rule Release No. 33-10786, Amendments to Financial Disclosures About Acquired and Disposed Businesses On May 20, 2020, the SEC issued a final rule that amends the financial statement requirements for acquisitions and dispositions of businesses, including real estate operations, and related pro forma financial information. As noted in the final rule, the amendments “are intended to improve for investors the financial information about acquired or disposed businesses, facilitate more timely access to capital, and reduce the complexity and costs to prepare the disclosure.” Among other changes, the final rule modifies the significance tests and improves the disclosure requirements for (1) acquired or to be acquired businesses, (2) real estate operations, and (3) pro forma financial information. The final rule is applicable for a registrant’s fiscal year beginning after December 31, 2020 with early application permitted. The Company early adopted the final rule effective July 31, 2020 and the adoption did not have a material impact on its consolidated financial statements.

Acquisitions (Tables)

9 Months Ended

Jul. 31, 2020

Business Combinations [Abstract]

Schedule of the Fair Value of Net Assets Acquired

3. Acquisitions

Business Combination (continued)


Cultural costs	$	3,270
Land and land improvements	9,520
Buildings and improvements	870
Orchards	8,410
Customer relationships, trademarks and non-competition agreement (10-year useful life)	6,920
Goodwill	123
Total assets acquired	29,113
Noncontrolling interest	(14,265)
Net cash paid	$	14,848

Fair Value Measurements (Tables)

9 Months Ended

Jul. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


October 31, 2019	Level 1		Level 2		Level 3		Total
Assets at fair value:
Equity securities	$	17,346	$	—	$	—	$	17,346

Prepaid Expenses and Other Current Assets (Tables)

9 Months Ended

Jul. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	July 31, 2020		October 31, 2019
Prepaid supplies and insurance	$	2,554	$	3,199

Note receivable and related interest	2,490		181
Real estate development held for sale	2,543		2,543
Property held for sale	5,982		—
Lemon supplier advances and other	4,740		2,230
	$	18,309	$	8,153

Real Estate Development (Tables)

9 Months Ended

Jul. 31, 2020

Real Estate [Abstract]

Schedule of Real Estate Properties

Real estate development assets are comprised primarily of land and land development costs and consist of the following (in thousands):


	July 31, 2020		October 31, 2019

Retained Property - East Area I	$	13,251	$	11,943
East Area II	6,891		5,659

	$	20,142	$	17,602

Equity in Investments (Tables)

9 Months Ended

Jul. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity in Investments

Equity in investments consist of the following (in thousands):


	July 31, 2020		October 31, 2019
Limoneira Lewis Community Builders, LLC	$	57,424	$	54,016
Limco Del Mar, Ltd.	1,968		1,950
Rosales	1,344		1,745
Romney Property Partnership	509		512
	$	61,245	$	58,223

The following is unaudited summarized financial information for LLCB (in thousands):


	Nine Months Ended July 31,
	2020		2019
Revenues	$	25,716	$	36,551
Cost of land sold	21,614		26,770
Operating expenses	848		445
Net income	$	3,254	$	9,336
Net income attributable to Limoneira Company	$	1,659	$	4,021

Goodwill and Intangible Assets (Tables)

9 Months Ended

Jul. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Change in the Carrying Amount of Goodwill

A summary of the change in the carrying amount of goodwill is as follows (in thousands):


	Goodwill Net Carrying Amount
October 31, 2019	$	1,839
Trapani Fresh purchase price adjustment	(297)
Foreign currency translation adjustment	(4)
July 31, 2020	$	1,538

Indefinite-Lived Intangible Assets

Intangible assets consisted of the following as of July 31, 2020 and October 31, 2019 (in thousands):


	July 31, 2020													October 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years

Trade names and trademarks	$	3,786	$	(801)	$	2,985	10	$	3,786	$	(542)	$	3,244	10
Customer relationships	5,010		(914)		4,096		9	5,010		(500)		4,510		9
Non-competition agreement	1,040		(121)		919		10	1,040		(42)		998		10
Acquired water and mineral rights	3,609		—		3,609		Indefinite	3,655		—		3,655		Indefinite
	$	13,445	$	(1,836)	$	11,609		$	13,491	$	(1,084)	$	12,407

Finite-Lived Intangible Assets

Intangible assets consisted of the following as of July 31, 2020 and October 31, 2019 (in thousands):


	July 31, 2020													October 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Useful Life in Years

Trade names and trademarks	$	3,786	$	(801)	$	2,985	10	$	3,786	$	(542)	$	3,244	10
Customer relationships	5,010		(914)		4,096		9	5,010		(500)		4,510		9
Non-competition agreement	1,040		(121)		919		10	1,040		(42)		998		10
Acquired water and mineral rights	3,609		—		3,609		Indefinite	3,655		—		3,655		Indefinite
	$	13,445	$	(1,836)	$	11,609		$	13,491	$	(1,084)	$	12,407

Estimated Future Amortization Expense of Intangible Assets

Estimated future amortization expense of intangible assets as of July 31, 2020 are as follows (in thousands):


2020 (excluding the nine months ended July 31, 2020)	$	285
2021	1,027
2022	976
2023	976
2024	976
Thereafter	3,760
	$	8,000

Accrued Liabilities (Tables)

9 Months Ended

Jul. 31, 2020

Accounts Payable and Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	July 31, 2020		October 31, 2019
Compensation	$	1,787	$	1,973
Property taxes	442		652
Lemon and orange supplier payables	—		899
Operating expenses	2,178		3,191
Other	1,764		1,546

	$	6,171	$	8,261

Long-Term Debt (Tables)

9 Months Ended

Jul. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt is comprised of the following (in thousands):


	July 31, 2020		October 31, 2019
Farm Credit West revolving and non-revolving lines of credit: the interest rate of the revolving line of credit is variable based on the one-month London Interbank Offered Rate (“LIBOR”), which was 0.18% at July 31, 2020, plus 1.60%. The interest rate for the $40.0 million outstanding balance of the non-revolving line of credit was fixed at 4.77%. Interest is payable monthly and the principal is due in full on July 1, 2022.	$	101,527	$	82,843
Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 2.48%. The loan is payable in quarterly installments through November 2022.	1,590		2,035
Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 3.24%. The loan is payable in monthly installments through October 2035.	1,042		1,078
Farm Credit West term loan: Effective July 1, 2020, the interest rate was fixed at 3.24%. The loan is payable in monthly installments through March 2036.	8,538		8,823
Farm Credit West term loan: Effective July 1, 2020 the interest rate was fixed at 2.77% until July 1, 2025, becoming variable for the remainder of the loan. The loan is payable in monthly installments through March 2036.	6,301		6,522
Wells Fargo term loan: the interest rate is fixed at 3.58%. The loan is payable in monthly installments through January 2023.	3,862		4,955
Banco de Chile term loan: the interest rate is fixed at 6.48%. The loan is payable in annual installments through January 2025.	1,478		1,386
Note Payable: the interest rate ranges from 5.00% to 7.00% and was 6.00% at July 31, 2020. The loan includes interest only monthly payments and principal is due in February 2023.	1,435		1,435
Subtotal	125,773		109,077
Less deferred financing costs, net of accumulated amortization	188		162
Total long-term debt, net	125,585		108,915
Less current portion	3,426		3,023
Long-term debt, less current portion	$	122,159	$	105,892

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Leases (Tables)

9 Months Ended

Jul. 31, 2020

Leases [Abstract]

Components of the Company's Operating Lease Portfolio Included in Property, Plant and Equipment

The following table presents the components of the Company’s operating lease portfolio included in property, plant and equipment, net as of the dates indicated (in thousands):


	July 31, 2020		October 31, 2019
Land	$	1,234	$	1,279
Buildings, equipment and building improvements	18,478		22,841
Less accumulated depreciation	(5,512)		(7,551)
Property, plant and equipment, net under operating leases	$	14,200	$	16,569

Composition of Rental Operations Revenue

The Company’s rental operations revenue consists of the following (in thousands):


	Three Months Ended July 31, 2020		Nine Months Ended July 31, 2020
Operating lease revenue	$	1,078	$	3,235
Variable lease revenue	94		242
Total lease revenue	$	1,172	$	3,477

Future Minimum Lease Payments to be Received Related to Net Operating Lease Agreements

The future minimum lease payments to be received by the Company related to these operating lease agreements as of July 31, 2020 are as follows (in thousands):


2020 (excluding the nine months ended July 31, 2020)	$	309
2021	701
2022	508
2023	379
2024	42
Thereafter	758
Total	$	2,697

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases consists of the following (in thousands):


	Classification	July 31, 2020
Assets
Operating lease ROU assets	Other assets	$	2,174

Liabilities and Stockholders' Equity
Current operating lease liabilities	Accrued liabilities	600
Non-current operating lease liabilities	Other long-term liabilities	1,637
Total operating lease liabilities		$	2,237

Weighted-average remaining lease term (in years)		10.8
Weighted-average discount rate		3.8		%

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases consists of the following (in thousands):


	Three Months Ended July 31, 2020		Nine Months Ended July 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	126	$	432

ROU assets obtained in exchange for new operating lease liabilities	$	108	$	108

Future Minimum Lease Payments under Non-Cancellable Leases

Future minimum lease payments under non-cancellable leases for the remainder of fiscal year 2020, each of the subsequent four fiscal years and thereafter are as follows (in thousands):


2020 (excluding the nine months ended July 31, 2020)	$	128
2021	509
2022	358
2023	182
2024	151
Thereafter	1,449
Total lease payments	2,777
Less: Imputed interest	(540)
Total	$	2,237

A summary of the Company’s future minimum payments for obligations under non-cancellable operating leases as of October 31, 2019 was as follows (in thousands):


2020	$	688
2021	492
2022	291
2023	154
2024	134
Thereafter	1,382
	$	3,141

Basic and Diluted Net Income (Loss) per Share (Tables)

9 Months Ended

Jul. 31, 2020

Earnings Per Share [Abstract]

Schedule of Net Income (Loss) per Share

The computations for basic and diluted net income (loss) per common share are as follows (in thousands, except per share amounts):


	Three Months Ended July 31,						Nine Months Ended July 31,
	2020		2019		2020		2019
Basic net income (loss) per common share:
Net income (loss) applicable to common stock	$	2,184	$	(1,115)	$	(9,377)	$	(3,244)
Effect of unvested, restricted stock	(17)		(16)		(50)		(49)
Numerator: Net income (loss) for basic EPS	2,167		(1,131)		(9,427)		(3,293)
Denominator: Weighted average common shares-basic	17,623		17,554		17,607		17,527
Basic net income (loss) per common share	$	0.12	$	(0.06)	$	(0.54)	$	(0.19)


Diluted net income (loss) per common share:
Numerator: Net income (loss) for diluted EPS	$	2,309	$	(1,131)	$	(9,427)	$	(3,293)
Weighted average common shares–basic	17,623		17,554		17,607		17,527
Effect of dilutive unvested, restricted stock and preferred stock	874		—		—		—
Denominator: Weighted average common shares–diluted	18,497		17,554		17,607		17,527
Diluted net income (loss) per common share	$	0.12	$	(0.06)	$	(0.54)	$	(0.19)

Related-Party Transactions (Tables)

9 Months Ended

Jul. 31, 2020

Summary of Transactions with Related-Parties

The Company has transactions with various related-parties as summarized in the tables below (in thousands):


		July 31, 2020																		October 31, 2019
		Balance Sheet																		Balance Sheet
Ref	Related Party	Receivable/Other from Related Parties		Other Assets		Accounts Payable		Payables to Related Parties		Other Long-Term Liabilities		Receivable/Other from Related Parties		Other Assets		Accounts Payable		Payables to Related Parties			Other Long-Term Liabilities
1	Employees	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—
2	Mutual water companies	$	—	$	—	$	79	$	—	$	—	$	—	$	473	$	11	$	—		$	—
3	Cooperative association	$	—	$	—	$	48	$	—	$	—	$	—	$	—	$	35	$	—		$	—
4	Calavo	$	2,701	$	—	$	1	$	—	$	—	$	—	$	—	$	—	$	—		$	—
5	Third-party growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—
6	Cadiz / Fenner / WAM	$	—	$	1,461	$	—	$	190	$	1,372	$	—	$	—	$	—	$	—		$	—
7	Colorado River Growers	$	297	$	—	$	—	$	—	$	—	$	376	$	—	$	—	$	—		$	—
8	YMIDD	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—		$	—
9	FGF	$	446	$	—	$	—	$	1,370	$	—	$	2,609	$	—	$	—	$	906		$	—
10	LLCB	$	—	$	—	$	—	$	3,675	$	—	$	—	$	—	$	—	$	—		$	1,200


		Three Months Ended July 31, 2020																		Three Months Ended July 31, 2019
		Consolidated Statement of Operations																Consolidated Statement of Operations
Ref	Related Party	Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid		Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
1	Employees	$	—	$	195	$	—	$	—	$	—	$	—	$	190	$	—	$	—	$	—
2	Mutual water companies	$	—	$	—	$	211	$	—	$	—	$	—	$	—	$	195	$	—	$	—
3	Cooperative association	$	—	$	—	$	353	$	—	$	—	$	—	$	—	$	302	$	—	$	—
4	Calavo	$	4,724	$	84	$	23	$	—	$	126	$	2,519	$	81	$	261	$	—	$	126
5	Third-party growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	6	$	—	$	—
6	Cadiz / Fenner / WAM	$	—	$	—	$	1	$	—	$	—	$	—	$	—	$	42	$	—	$	—
7	Colorado River Growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
8	YMIDD	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
9	FGF	$	9,626	$	—	$	10,508	$	—	$	—	$	11,685	$	—	$	8,798	$	—	$	—


		Nine Months Ended July 31, 2020																		Nine Months Ended July 31, 2019
		Consolidated Statement of Operations																Consolidated Statement of Operations
Ref	Related Party	Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid		Net Revenue Agribusiness		Net Revenue Rental Operations		Agribusiness Expense and Other		Other Income, Net		Dividends Paid
1	Employees	$	—	$	585	$	—	$	—	$	—	$	—	$	550	$	—	$	—	$	—
2	Mutual water companies	$	—	$	—	$	675	$	—	$	—	$	—	$	—	$	593	$	—	$	—
3	Cooperative association	$	—	$	—	$	1,246	$	—	$	—	$	—	$	—	$	1,158	$	—	$	—
4	Calavo	$	6,296	$	249	$	200	$	220	$	377	$	3,062	$	240	$	262	$	250	$	381
5	Third-party growers	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	386	$	—	$	—
6	Cadiz / Fenner / WAM	$	—	$	—	$	173	$	—	$	—	$	—	$	—	$	130	$	—	$	—
7	Colorado River Growers	$	522	$	—	$	5,337	$	—	$	—	$	306	$	—	$	3,841	$	—	$	—
8	YMIDD	$	—	$	—	$	86	$	—	$	—	$	—	$	—	$	85	$	—	$	—
9	FGF	$	12,105	$	—	$	12,941	$	—	$	—	$	11,685	$	—	$	8,798	$	—	$	—

15. Related-Party Transactions (continued)

⁽⁵⁾ Third party growers - A member of the Company’s board of directors markets lemons through the Company.

⁽¹⁰⁾ LLCB - Refer to Note 7 - Real Estate Development.

Retirement Plans (Tables)

9 Months Ended

Jul. 31, 2020

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The components of net periodic pension cost for the Plan for the three and nine months ended July 31, 2020 and 2019 were as follows (in thousands):


	Three Months Ended July 31,						Nine Months Ended July 31,
	2020		2019		2020		2019
Administrative expenses	$	70	$	47	$	209	$	141
Interest cost	160		207		481		621
Expected return on plan assets	(248)		(272)		(743)		(816)
Prior service cost	11		11		33		33
Recognized actuarial loss	184		101		554		302
Net periodic benefit cost	$	177	$	94	$	534	$	281

Segment Information (Tables)

9 Months Ended

Jul. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Information by Segment

Segment information for the three months ended July 31, 2020 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	39,459	$	3,775	$	—	$	6,133	$	3,020	$	52,387	$	1,172	$	53,559
Intersegment revenue	—		16,330		(16,330)		—		—		—		—		—
Total net revenues	39,459		20,105		(16,330)		6,133		3,020		52,387		1,172		53,559
Costs and expenses	39,694		15,988		(16,330)		2,537		2,666		44,555		4,633		49,188
Depreciation and amortization	—		—		—		—		—		2,271		286		2,557
Operating (loss) income	$	(235)	$	4,117	$	—	$	3,596	$	354	$	5,561	$	(3,747)	$	1,814

Segment information for the three months ended July 31, 2019 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	41,169	$	5,232	$	—	$	2,519	$	711	$	49,631	$	1,238	$	50,869
Intersegment revenue	—		10,263		(10,263)		—		—		—		—		—
Total net revenues	41,169		15,495		(10,263)		2,519		711		49,631		1,238		50,869
Costs and expenses	35,653		13,524		(10,263)		1,185		825		40,924		5,747		46,671
Depreciation and amortization	—		—		—		—		—		1,823		257		2,080
Operating income (loss)	$	5,516	$	1,971	$	—	$	1,334	$	(114)	$	6,884	$	(4,766)	$	2,118

Segment information for the nine months ended July 31, 2020 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	100,231	$	11,752	$	—	$	8,323	$	11,003	$	131,309	$	3,477	$	134,786
Intersegment revenue	—		31,889		(31,889)		—		—		—		—		—
Total net revenues	100,231		43,641		(31,889)		8,323		11,003		131,309		3,477		134,786
Costs and expenses	101,006		34,925		(31,889)		4,571		9,990		118,603		18,113		136,716
Depreciation and amortization	—		—		—		—		—		6,715		840		7,555
Operating (loss) income	$	(775)	$	8,716	$	—	$	3,752	$	1,013	$	5,991	$	(15,476)	$	(9,485)

Segment information for the nine months ended July 31, 2019 (in thousands):


	Fresh Lemons		Lemon Packing		Eliminations		Avocados		Other Agribusiness		Total Agribusiness		Corporate and Other		Total
Revenues from external customers	$	108,090	$	13,289	$	—	$	3,062	$	6,813	$	131,254	$	3,668	$	134,922
Intersegment revenue	—		25,464		(25,464)		—		—		—		—		—
Total net revenues	108,090		38,753		(25,464)		3,062		6,813		131,254		3,668		134,922
Costs and expenses	95,650		32,972		(25,464)		2,822		7,210		113,190		17,312		130,502
Depreciation and amortization	—		—		—		—		—		5,551		776		6,327
Operating income (loss)	$	12,440	$	5,781	$	—	$	240	$	(397)	$	12,513	$	(14,420)	$	(1,907)

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Jul. 31, 2020	Nov. 01, 2019	Oct. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Foreign currency translation items included in accumulated other comprehensive income (loss)		$ (2,838)		$ (2,362)
Pension liability items included in accumulated other comprehensive loss (income)		4,423		4,753
Available for sale items included in accumulated other comprehensive income (loss)				(140)
Receivables/other from related parties		3,444		2,985
Accounts receivable, net		(21,478)		(15,114)
Payables to related parties		5,235		906
Accrued liabilities		(6,171)		(8,261)
Operating lease ROU assets		2,174
Operating lease liabilities		$ 2,237
COVID-19
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Income tax expense (benefit)	$ (1,950)
Federal refund	$ 5,801
Reclassification Adjustment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Receivables/other from related parties				2,985
Accounts receivable, net				2,985
Payables to related parties				906
Accrued liabilities				$ 906
ASU 2016-02
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Operating lease ROU assets			$ 2,400
Operating lease liabilities			$ 2,500

Acquisitions - Business Combinations, Narrative (Details) $ in Thousands		1 Months Ended	12 Months Ended
	May 30, 2019 USD ($) a	Feb. 29, 2020 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)	Jul. 31, 2020 USD ($)
Business Acquisition [Line Items]
Goodwill			$ 1,839		$ 1,538
Argentine Trust \| Finca Santa Clara
Business Acquisition [Line Items]
Ownership interest	75.00%
Finca Santa Clara
Business Acquisition [Line Items]
Area of land (in acres) \| a	1,200
Trapani Fresh
Business Acquisition [Line Items]
Ownership interest acquired	51.00%
Total consideration paid	$ 15,000
Transaction costs			654
Change in purchase consideration		$ 152
Goodwill	$ 123
Revenue included in the statement of operations			14,651
Net income (loss) included in the statement of operations			999
Pro forma revenues			177,625	$ 153,033
Pro forma net income (loss)			$ (6,092)	$ 21,942
Argentine Trust
Business Acquisition [Line Items]
Ownership interest acquired	51.00%

Acquisitions - Schedule of the Fair Value of Net Assets Acquired (Details) - USD ($) $ in Thousands	May 30, 2019	Jul. 31, 2020	Oct. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 1,538	$ 1,839
Trapani Fresh
Business Acquisition [Line Items]
Cultural costs	$ 3,270
Customer relationships, trademarks and non-competition agreement (10-year useful life)	6,920
Goodwill	123
Total assets acquired	29,113
Noncontrolling interest	(14,265)
Net cash paid	$ 14,848
Useful life of acquired intangibles	10 years
Trapani Fresh \| Land and land improvements
Business Acquisition [Line Items]
Land, buildings and orchards	$ 9,520
Trapani Fresh \| Buildings and improvements
Business Acquisition [Line Items]
Land, buildings and orchards	870
Trapani Fresh \| Orchards
Business Acquisition [Line Items]
Land, buildings and orchards	$ 8,410

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Measured on a Recurring Basis $ in Thousands	Oct. 31, 2019 USD ($)
Assets at fair value:
Equity securities	$ 17,346
Level 1
Assets at fair value:
Equity securities	17,346
Level 2
Assets at fair value:
Equity securities	0
Level 3
Assets at fair value:
Equity securities	$ 0

Fair Value Measurements - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	Mar. 31, 2020	Jul. 31, 2020	Jul. 31, 2019	Oct. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sale of stock in Calavo Growers, Inc.		$ 11,048	$ 952
Realized (loss) gain on stock in Calavo Growers, Inc.		$ (6,299)
Calavo Growers, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment owned (in shares)				200,000
Ownership percentage				1.10%
Equity method investment investee, price per share (in dollars per share)				$ 97.00
Shares sold (in shares)	200,000
Proceeds from sale of stock in Calavo Growers, Inc.	$ 11,048

Concentrations and Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Concentration Risk [Line Items]
Revenues	$ 52,387	$ 49,631	$ 131,309	$ 131,254
Customer Concentration Risk \| Accounts Receivable \| One Customer
Concentration Risk [Line Items]
Concentration risk percentage			11.00%
Lemon \| Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	64.00%	59.00%	60.00%	59.00%
Chile \| Lemons and Oranges
Concentration Risk [Line Items]
Revenues	$ 643	$ 1,053	$ 2,103	$ 2,598
Argentina \| Lemons and Oranges
Concentration Risk [Line Items]
Revenues	$ 9,626	$ 11,685	$ 12,105	$ 11,685

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid supplies and insurance	$ 2,554	$ 3,199
Note receivable and related interest	2,490	181
Real estate development held for sale	2,543	2,543
Property held for sale	5,982	0
Lemon supplier advances and other	4,740	2,230
Prepaid expenses and other current assets	$ 18,309	$ 8,153

Prepaid Expenses and Other Current Assets - Narrative (Details) - USD ($) $ in Thousands	Aug. 26, 2020	Jul. 31, 2020	Jun. 30, 2020	Oct. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Carrying value of property held for sale		$ 5,982		$ 0
Property Located in Lindsay, California
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property held for sale		$ 5,982
Property Located in Lindsay, California \| Held-for-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price			$ 6,000
Property Located in Lindsay, California \| Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from the sale of property	$ 6,011
Property Located in Lindsay, California \| Subsequent Event \| Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of real estate property	$ 300

Real Estate Development - Schedule of Real Estate Development (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Real Estate Properties [Line Items]
Real estate development assets	$ 20,142	$ 17,602
Retained Property - East Area I
Real Estate Properties [Line Items]
Real estate development assets	13,251	11,943
East Area II
Real Estate Properties [Line Items]
Real estate development assets	$ 6,891	$ 5,659

Real Estate Development - Narrative (Details)	1 Months Ended		3 Months Ended	9 Months Ended
Real Estate Development - Narrative (Details)	Jan. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jan. 31, 2021 USD ($)	Jul. 31, 2020 USD ($)	Jul. 31, 2019 USD ($)	Feb. 29, 2020 USD ($)	Jan. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Nov. 10, 2015 USD ($)	Oct. 31, 2005 a property
Real Estate Properties [Line Items]
Loan balance				$ 125,585,000				$ 108,915,000
Real estate, gross				2,543,000				2,543,000
Sevilla
Real Estate Properties [Line Items]
Real estate, gross				2,543,000
Sevilla \| Disposal Group, Not Discontinued Operations
Real Estate Properties [Line Items]
Sales price							$ 2,700,000
Sevilla \| Disposal Group, Not Discontinued Operations \| Forecast
Real Estate Properties [Line Items]
Net proceeds from sale of real estate			$ 2,550,000
East Areas I and II
Real Estate Properties [Line Items]
Number of properties \| property										2
Number of acres \| a										550
Limoneira Lewis Community Builders, LLC Agreement
Real Estate Properties [Line Items]
Proceeds from sale of real estate held-for-investment				2,800,000	$ 4,000,000
Centennial Property
Real Estate Properties [Line Items]
Proceeds from sale of real estate held-for-investment		$ 3,250,000
Real estate, gross		2,983,000
Proceeds from issuance of debt		$ 3,000,000
Carrying value of note				$ 2,490,000
LLCB
Real Estate Properties [Line Items]
Payable to related parties								$ 1,200,000
Amount loaned to joint venture						$ 1,800,000
Interest rate						4.60%
LLCB \| Lewis Group of Companies
Real Estate Properties [Line Items]
Amount loaned to joint venture						$ 1,800,000
Lewis Group of Companies \| East Area I
Real Estate Properties [Line Items]
Ownership percentage									50.00%
Equity method investment, aggregate cost									$ 20,000,000
LIBOR \| Centennial Property
Real Estate Properties [Line Items]
Interest rate spread on variable rate				2.75%
Unsecured Line of Credit Loan Agreement and Promissory Note
Real Estate Properties [Line Items]
Estimated value of the guarantee obligation				$ 1,080,000
Unsecured Line of Credit Loan Agreement and Promissory Note \| LLCB
Real Estate Properties [Line Items]
Face amount of loan	$ 45,000,000
Loan balance				$ 39,404,000
Unsecured Line of Credit Loan Agreement and Promissory Note \| LIBOR \| LLCB
Real Estate Properties [Line Items]
Basis spread on variable rate	2.85%

Equity in Investments (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Schedule of Equity Method Investments [Line Items]
Equity in investments	$ 61,245	$ 58,223
Limoneira Lewis Community Builders, LLC
Schedule of Equity Method Investments [Line Items]
Equity in investments	57,424	54,016
Limco Del Mar, Ltd.
Schedule of Equity Method Investments [Line Items]
Equity in investments	1,968	1,950
Rosales
Schedule of Equity Method Investments [Line Items]
Equity in investments	1,344	1,745
Romney Property Partnership
Schedule of Equity Method Investments [Line Items]
Equity in investments	$ 509	$ 512

Equity in Investments - Financial Information for Equity in Investments (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Schedule of Equity Method Investments [Line Items]
Revenues	$ 53,559			$ 50,869			$ 134,786	$ 134,922
Cost of land sold	46,826			42,747			125,318	118,741
Net income (loss)	1,800	$ (5,306)	$ (6,904)	(397)	$ 2,820	$ (4,676)	(10,410)	(2,253)
Net income attributable to Limoneira Company	$ 2,309			$ (990)			(9,001)	(2,868)
Limoneira Lewis Community Builders
Schedule of Equity Method Investments [Line Items]
Revenues							25,716	36,551
Cost of land sold							21,614	26,770
Operating expenses							848	445
Net income (loss)							3,254	9,336
Net income attributable to Limoneira Company							$ 1,659	$ 4,021

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-Paragraph 22
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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+ Details

Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Jul. 31, 2020 USD ($)
Goodwill [Roll Forward]
Balance	$ 1,839
Trapani Fresh purchase price adjustment	(297)
Foreign currency translation adjustment	(4)
Balance	$ 1,538

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss	$ 0		$ 0
Amortization expense	$ 262,000	$ 205,000	$ 752,000	$ 383,000

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jan. 31, 2020	Jul. 31, 2020	Oct. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization		$ (1,836)	$ (1,084)
Net Carrying Amount		8,000
Gross Carrying Amount		13,445	13,491
Net Carrying Amount		11,609	12,407
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		3,786	3,786
Accumulated Amortization		(801)	(542)
Net Carrying Amount		$ 2,985	3,244
Weighted Average Useful Life in Years	10 years	10 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 5,010	5,010
Accumulated Amortization		(914)	(500)
Net Carrying Amount		$ 4,096	4,510
Weighted Average Useful Life in Years	9 years	9 years
Non-competition agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 1,040	1,040
Accumulated Amortization		(121)	(42)
Net Carrying Amount		$ 919	998
Weighted Average Useful Life in Years	10 years	10 years
Acquired water and mineral rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount of Indefinite Lived Assets		$ 3,609	$ 3,655

Goodwill and Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) $ in Thousands	Jul. 31, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020 (excluding the nine months ended July 31, 2020)	$ 285
2021	1,027
2022	976
2023	976
2024	976
Thereafter	3,760
Net Carrying Amount	$ 8,000

Other Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Other Assets [Abstract]
Investments in mutual water companies	$ 5,554	$ 5,499

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Compensation	$ 1,787	$ 1,973
Property taxes	442	652
Lemon and orange supplier payables	0	899
Operating expenses	2,178	3,191
Other	1,764	1,546
Accrued liabilities	$ 6,171	$ 8,261

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($)	9 Months Ended
	Jul. 31, 2020	Oct. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 125,773,000	$ 109,077,000
Less deferred financing costs, net of accumulated amortization	188,000	162,000
Total long-term debt, net	125,585,000	108,915,000
Less current portion	3,426,000	3,023,000
Long-term debt, less current portion	122,159,000	105,892,000
Notes Payable
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,435,000	1,435,000
Variable interest rate	6.00%
Notes Payable \| Minimum
Debt Instrument [Line Items]
Variable interest rate	5.00%
Notes Payable \| Maximum
Debt Instrument [Line Items]
Variable interest rate	7.00%
Farm Credit West Revolving and Non-Revolving Lines of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 101,527,000	82,843,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Base rate	0.18%
Basis spread on variable rate	1.60%
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 40,000,000.0
Fixed interest rate	4.77%
Farm Credit West Term Loan due November 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,590,000	2,035,000
Variable interest rate	2.48%
Farm Credit West Term Loan due October 2035
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,042,000	1,078,000
Variable interest rate	3.24%
Farm Credit West Term Loan due March 2036
Debt Instrument [Line Items]
Long-term debt, gross	$ 8,538,000	8,823,000
Fixed interest rate	3.24%
Farm Credit West Term Loan due March 2036
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,301,000	6,522,000
Fixed interest rate	2.77%
Wells Fargo Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,862,000	4,955,000
Fixed interest rate	3.58%
Banco de Chile Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,478,000	$ 1,386,000
Fixed interest rate	6.48%

Long-Term Debt - Narrative (Details)	1 Months Ended			3 Months Ended		9 Months Ended
Long-Term Debt - Narrative (Details)	Aug. 31, 2020 USD ($)	Mar. 31, 2020	Feb. 29, 2020 USD ($)	Jul. 31, 2020 USD ($)	Jul. 31, 2019 USD ($)	Jul. 31, 2020 USD ($)	Jul. 31, 2019 USD ($)	May 29, 2020	Dec. 31, 2019	Oct. 31, 2019
Debt Instrument [Line Items]
Interest costs capitalized				$ 353,000	$ 366,000	$ 797,000	$ 977,000
Farm Credit West
Debt Instrument [Line Items]
Annual patronage dividend rate									1.00%
Dividends receivable			$ 966,000
Farm Credit West \| Subsequent Event
Debt Instrument [Line Items]
Dividends receivable	$ 600,000
Farm Credit West Revolving and Non-Revolving Lines of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				130,000,000		130,000,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				75,000,000		75,000,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Revolving Equity Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				15,000,000		15,000,000
Farm Credit West Revolving and Non-Revolving Lines of Credit \| Non-Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 40,000,000		$ 40,000,000
Farm Credit West Loan Agreement Secured by Windfall Investors, LLC Property
Debt Instrument [Line Items]
Minimum debt service coverage ratio								1.00		1.25
Farm Credit West Loan Agreement Secured by Windfall Investors, LLC Property \| Subsequent Event
Debt Instrument [Line Items]
Minimum debt service coverage ratio	1.25
Farm Credit West Loan Agreement Secured by Windfall Investors, LLC Property \| Revolving Credit Facility
Debt Instrument [Line Items]
Draw period		3 years
Payment period		20 years

Leases - Lessor Arrangements, Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 31, 2020 USD ($)	Jul. 31, 2020 USD ($)
Minimum
Lessor, Lease, Description [Line Items]
Remaining terms of operating leases	1 month	1 month
Maximum
Lessor, Lease, Description [Line Items]
Remaining terms of operating leases	23 years	23 years
Assets under Operating Leases
Lessor, Lease, Description [Line Items]
Depreciation expense	$ 159	$ 485

Leases - Components of the Company's Operating Lease Portfolio Included in Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net under operating leases	$ 242,501	$ 248,114
Assets under Operating Leases
Property, Plant and Equipment [Line Items]
Less accumulated depreciation	(5,512)	(7,551)
Property, plant and equipment, net under operating leases	14,200	16,569
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross under operating leases	1,234	1,279
Buildings, equipment and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross under operating leases	$ 18,478	$ 22,841

Leases - Composition of Rental Operations Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 31, 2020	Jul. 31, 2020
Leases [Abstract]
Operating lease revenue	$ 1,078	$ 3,235
Variable lease revenue	94	242
Total lease revenue	$ 1,172	$ 3,477

Leases - Future Minimum Lease Payments to be Received by the Company Related to Lessor Operating Lease Arrangements (Details) $ in Thousands	Jul. 31, 2020 USD ($)
Leases [Abstract]
2020 (excluding the nine months ended July 31, 2020)	$ 309
2021	701
2022	508
2023	379
2024	42
Thereafter	758
Total	$ 2,697

Leases - Lessee Arrangements, Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 31, 2020 USD ($)	Jul. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 143	$ 417
Pollination service contract obligations due in the remainder of fiscal year 2020	77	77
Pollination service contract obligations due in 2021	307	307
Pollination service contract obligations due in 2022	307	307
Pollination service contract obligations due in 2023	$ 51	$ 51
Minimum
Lessee, Lease, Description [Line Items]
Remaining terms of operating leases	1 year	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining terms of operating leases	18 years	18 years

Leases - Supplemental Balance Sheet Information Related to Leases (Details) $ in Thousands	Jul. 31, 2020 USD ($)
Assets
Operating lease ROU assets	$ 2,174
Liabilities and Stockholders' Equity
Current operating lease liabilities	600
Non-current operating lease liabilities	1,637
Total operating lease liabilities	$ 2,237
Weighted-average remaining lease term (in years)	10 years 9 months 18 days
Weighted-average discount rate	3.80%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent

Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 31, 2020	Jul. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 126	$ 432
ROU assets obtained in exchange for new operating lease liabilities	$ 108	$ 108

Leases - Future Minimum Lease Payments to be Received by the Company Related to Lessee Operating Lease Arrangements (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Leases [Abstract]
2020 (excluding the nine months ended July 31, 2020)	$ 128
2021	509	$ 688
2022	358	492
2023	182	291
2024	151	154
Thereafter	1,449
Total lease payments	2,777	$ 3,141
Less: Imputed interest	(540)
Total operating lease liabilities	$ 2,237

Leases - Future Minimum Lease Payments under Non-Cancellable Leases (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Oct. 31, 2019
Leases [Abstract]
2020	$ 509	$ 688
2021	358	492
2021	182	291
2023	151	154
2024		134
Thereafter		1,382
Total lease payments	$ 2,777	$ 3,141

Basic and Diluted Net Income (Loss) per Share - Schedule of Net (Loss) Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Basic net income (loss) per common share:
Net income (loss) applicable to common stock	$ 2,184	$ (1,115)	$ (9,377)	$ (3,244)
Effect of unvested, restricted stock	(17)	(16)	(50)	(49)
Numerator: Net income (loss) for basic EPS	$ 2,167	$ (1,131)	$ (9,427)	$ (3,293)
Denominator: Weighted average common shares–basic (in shares)	17,623,000	17,554,000	17,607,000	17,527,000
Basic net (loss) income per common share (in dollars per share)	$ 0.12	$ (0.06)	$ (0.54)	$ (0.19)
Diluted net income (loss) per common share:
Numerator: Net income (loss) for diluted EPS	$ 2,309	$ (1,131)	$ (9,427)	$ (3,293)
Denominator: Weighted average common shares–basic (in shares)	17,623,000	17,554,000	17,607,000	17,527,000
Effect of dilutive unvested, restricted stock and preferred stock (in shares)	874,000	0	0	0
Denominator: Weighted average common shares–diluted (in shares)	18,497,000	17,554,000	17,607,000	17,527,000
Diluted net (loss) income per common share (in dollars per share)	$ 0.12	$ (0.06)	$ (0.54)	$ (0.19)

Basic and Diluted Net Income (Loss) per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Restricted Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	225	149	187	135

Related-Party Transactions (Details)	3 Months Ended		9 Months Ended		12 Months Ended
Related-Party Transactions (Details)	Jul. 31, 2020 USD ($) shares	Jul. 31, 2019 USD ($)	Jul. 31, 2020 USD ($) shares	Jul. 31, 2019 USD ($)	Oct. 31, 2013 USD ($) a	Oct. 31, 2019 USD ($)
Affiliate of WAM \| Limoneira Company Series B-2 Convertible Preferred Stock
Consolidated Statement of Operations
Shares of Series B-2 convertible preferred stock held (in shares) \| shares	9,300		9,300
Employees \| Affiliated Entity
Balance Sheet
Receivable/Other from Related Parties	$ 0		$ 0			$ 0
Other Assets	0		0			0
Accounts Payable	0		0			0
Payables to Related Parties	0		0			0
Other Long-Term Liabilities	0		0			0
Consolidated Statement of Operations
Net Revenue Rental Operations	195,000	$ 190,000	585,000	$ 550,000
Other Income, Net	0	0	0	0
Dividends Paid	0	0	0	0
Rental payments due from employees	0		0			0
Employees \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	0	0	0	0
Agribusiness Expense and Other	0	0	0	0
Mutual water companies \| Affiliated Entity
Balance Sheet
Receivable/Other from Related Parties	0		0			0
Other Assets	0		0			473,000
Accounts Payable	79,000		79,000			11,000
Payables to Related Parties	0		0			0
Other Long-Term Liabilities	0		0			0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0	0
Other Income, Net	0	0	0	0
Dividends Paid	0	0	0	0
Mutual water companies \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	0	0	0	0
Agribusiness Expense and Other	211,000	195,000	675,000	593,000
Cooperative association \| Affiliated Entity
Balance Sheet
Receivable/Other from Related Parties	0		0			0
Other Assets	0		0			0
Accounts Payable	48,000		48,000			35,000
Payables to Related Parties	0		0			0
Other Long-Term Liabilities	0		0			0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0	0
Other Income, Net	0	0	0	0
Dividends Paid	0	0	0	0
Cooperative association \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	0	0	0	0
Agribusiness Expense and Other	353,000	302,000	1,246,000	1,158,000
Calavo \| Beneficial Owner
Balance Sheet
Receivable/Other from Related Parties	2,701,000		2,701,000			0
Other Assets	0		0			0
Accounts Payable	1,000		1,000			0
Payables to Related Parties	0		0			0
Other Long-Term Liabilities	0		0			0
Consolidated Statement of Operations
Net Revenue Rental Operations	84,000	81,000	249,000	240,000
Other Income, Net	0	0	220,000	250,000
Dividends Paid	126,000	126,000	377,000	381,000
Calavo \| Beneficial Owner \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	4,724,000	2,519,000	6,296,000	3,062,000
Agribusiness Expense and Other	23,000	261,000	200,000	262,000
Third-party growers \| Affiliated Entity
Balance Sheet
Receivable/Other from Related Parties	0		0			0
Other Assets	0		0			0
Accounts Payable	0		0			0
Payables to Related Parties	0		0			0
Other Long-Term Liabilities	0		0			0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0	0
Other Income, Net	0	0	0	0
Dividends Paid	0	0	0	0
Third-party growers \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	0	0	0	0
Agribusiness Expense and Other	0	6,000	0	386,000
Cadiz / Fenner / WAM \| Affiliated Entity
Balance Sheet
Receivable/Other from Related Parties	0		0			0
Other Assets	1,461,000		1,461,000			0
Accounts Payable	0		0			0
Payables to Related Parties	190,000		190,000			0
Other Long-Term Liabilities	1,372,000		1,372,000			0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0	0
Other Income, Net	0	0	0	0
Dividends Paid	0	0	0	0
Area of land (in acres) \| a					670
Annual base rental per planted acre					$ 200
Percent of gross revenues paid as annual base rental					20.00%
Maximum annual base rental per planted acre					$ 1,200
Cadiz / Fenner / WAM \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	0	0	0	0
Agribusiness Expense and Other	1,000	42,000	173,000	130,000
Colorado River Growers \| Affiliated Entity
Balance Sheet
Receivable/Other from Related Parties	297,000		297,000			376,000
Other Assets	0		0			0
Accounts Payable	0		0			0
Payables to Related Parties	0		0			0
Other Long-Term Liabilities	0		0			0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0	0
Other Income, Net	0	0	0	0
Dividends Paid	0	0	0	0
Colorado River Growers \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	0	0	522,000	306,000
Agribusiness Expense and Other	0	0	5,337,000	3,841,000
YMIDD \| Affiliated Entity
Balance Sheet
Receivable/Other from Related Parties	0		0			0
Other Assets	0		0			0
Accounts Payable	0		0			0
Payables to Related Parties	0		0			0
Other Long-Term Liabilities	0		0			0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0	0
Other Income, Net	0	0	0	0
Dividends Paid	0	0	0	0
YMIDD \| Affiliated Entity \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	0	0	0	0
Agribusiness Expense and Other	0	0	86,000	85,000
FGF \| Co-venturer
Balance Sheet
Receivable/Other from Related Parties	446,000		446,000			2,609,000
Other Assets	0		0			0
Accounts Payable	0		0			0
Payables to Related Parties	1,370,000		1,370,000			906,000
Other Long-Term Liabilities	0		0			0
Consolidated Statement of Operations
Net Revenue Rental Operations	0	0	0	0
Other Income, Net	0	0	0	0
Dividends Paid	0	0	0	0
FGF \| Co-venturer \| Agribusiness
Consolidated Statement of Operations
Net Revenue Agribusiness	9,626,000	11,685,000	12,105,000	11,685,000
Agribusiness Expense and Other	10,508,000	$ 8,798,000	12,941,000	$ 8,798,000
LLCB
Balance Sheet
Accounts Payable						1,200,000
Payables to Related Parties	3,675,000		3,675,000
LLCB \| Affiliated Entity
Balance Sheet
Receivable/Other from Related Parties	0		0			0
Other Assets	0		0			0
Accounts Payable	0		0			0
Payables to Related Parties						0
Other Long-Term Liabilities	$ 0		$ 0			$ 1,200,000

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Jul. 31, 2020
Income Taxes [Line Items]
Discrete benefit recorded as a result of carryback of federal net operating losses to previous years under the CARES Act		$ 1,950
Federal statutory rate	34.00%

Retirement Plans - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Retirement Plans - Narrative (Details) - USD ($)	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Retirement Benefits [Abstract]
Average earnings			5 years
Contributions	$ 0	$ 150,000	$ 0	$ 450,000

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Retirement Plans - Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Retirement Benefits [Abstract]
Administrative expenses	$ 70	$ 47	$ 209	$ 141
Interest cost	160	207	481	621
Expected return on plan assets	(248)	(272)	(743)	(816)
Prior service cost	11	11	33	33
Recognized actuarial loss	184	101	554	302
Net periodic benefit cost	$ 177	$ 94	$ 534	$ 281

Stock-based Compensation and Treasury Stock (Details) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended
	Jan. 31, 2020	Dec. 31, 2019	Jan. 31, 2019	Jan. 31, 2020	Jan. 31, 2019	Jul. 31, 2020	Jul. 31, 2019	Mar. 12, 2020
Class of Stock [Line Items]
Authorized amount under share repurchase program								$ 10,000,000
Management
Class of Stock [Line Items]
Shares exchanged (in shares)				11,314	20,119
Fair value of common stock for the payment of payroll taxes associated with the vesting of shares under stock-based compensation programs				$ 213,000	$ 305,000
Stock-Based Compensation \| Minimum
Class of Stock [Line Items]
Vesting period						2 years
Stock-Based Compensation \| Management
Class of Stock [Line Items]
Shares granted (in shares)				0
Stock-Based Compensation \| Key Executives
Class of Stock [Line Items]
Vesting period				3 years
Shares granted (in shares)		95,000
Common stock per share (in dollars per share)		$ 18.87
Cost from stock compensation				$ 1,793,000
Stock-Based Compensation \| Key Executives \| Minimum
Class of Stock [Line Items]
Vesting period						3 years
Stock-Based Compensation \| Key Executives \| Maximum
Class of Stock [Line Items]
Vesting period						5 years
Stock-Based Compensation \| Non-Employee Directors
Class of Stock [Line Items]
Shares granted (in shares)	17,841		15,642
Share-based compensation expense						$ 358,000	$ 339,000

Segment Information - Narrative (Details)	3 Months Ended		9 Months Ended
Segment Information - Narrative (Details)	Jul. 31, 2020 USD ($)	Jul. 31, 2019 USD ($)	Jul. 31, 2020 USD ($) segment	Jul. 31, 2019 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			4
Revenues	$ 53,559,000	$ 50,869,000	$ 134,786,000	$ 134,922,000
Other Agribusiness
Segment Reporting Information [Line Items]
Revenues	3,020,000	711,000	11,003,000	6,813,000
Other Agribusiness \| Oranges
Segment Reporting Information [Line Items]
Revenues	2,232,000	711,000	7,171,000	3,794,000
Other Agribusiness \| Specialty Citrus and Other Crops [Member]
Segment Reporting Information [Line Items]
Revenues	$ 788,000	$ 0	$ 3,832,000	$ 3,019,000

- Definition

+ References

+ Details

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Segment Reporting Information [Line Items]
Net revenues	$ (53,559)	$ (50,869)	$ (134,786)	$ (134,922)
Costs and expenses	49,188	46,671	136,716	130,502
Depreciation and amortization	2,557	2,080	7,555	6,327
Operating (loss) income	1,814	2,118	(9,485)	(1,907)
Eliminations
Segment Reporting Information [Line Items]
Net revenues	(16,330)	(10,263)	(31,889)	(25,464)
Costs and expenses	(16,330)	(10,263)	(31,889)	(25,464)
Depreciation and amortization	0	0	0	0
Operating (loss) income	0	0	0	0
Operating Segments
Segment Reporting Information [Line Items]
Net revenues	(53,559)	(50,869)	(134,786)	(134,922)
Corporate and Other
Segment Reporting Information [Line Items]
Net revenues	(1,172)	(1,238)	(3,477)	(3,668)
Costs and expenses	4,633	5,747	18,113	17,312
Depreciation and amortization	286	257	840	776
Operating (loss) income	(3,747)	(4,766)	(15,476)	(14,420)
Total Agribusiness
Segment Reporting Information [Line Items]
Net revenues	(52,387)	(49,631)	(131,309)	(131,254)
Costs and expenses	44,555	40,924	118,603	113,190
Depreciation and amortization	2,271	1,823	6,715	5,551
Operating (loss) income	5,561	6,884	5,991	12,513
Total Agribusiness \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Total Agribusiness \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	(52,387)	(49,631)	(131,309)	(131,254)
Fresh Lemons
Segment Reporting Information [Line Items]
Net revenues	(39,459)	(41,169)	(100,231)	(108,090)
Costs and expenses	39,694	35,653	101,006	95,650
Depreciation and amortization	0	0	0	0
Operating (loss) income	(235)	5,516	(775)	12,440
Fresh Lemons \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Fresh Lemons \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	(39,459)	(41,169)	(100,231)	(108,090)
Lemon Packing
Segment Reporting Information [Line Items]
Net revenues	(3,775)	(5,232)	(11,752)	(13,289)
Costs and expenses	15,988	13,524	34,925	32,972
Depreciation and amortization	0	0	0	0
Operating (loss) income	4,117	1,971	8,716	5,781
Lemon Packing \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	16,330	10,263	31,889	25,464
Lemon Packing \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	(20,105)	(15,495)	(43,641)	(38,753)
Avocados
Segment Reporting Information [Line Items]
Net revenues	(6,133)	(2,519)	(8,323)	(3,062)
Costs and expenses	2,537	1,185	4,571	2,822
Depreciation and amortization	0	0	0	0
Operating (loss) income	3,596	1,334	3,752	240
Avocados \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Avocados \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	(6,133)	(2,519)	(8,323)	(3,062)
Other Agribusiness
Segment Reporting Information [Line Items]
Net revenues	(3,020)	(711)	(11,003)	(6,813)
Costs and expenses	2,666	825	9,990	7,210
Depreciation and amortization	0	0	0	0
Operating (loss) income	354	(114)	1,013	(397)
Other Agribusiness \| Eliminations
Segment Reporting Information [Line Items]
Net revenues	0	0	0	0
Other Agribusiness \| Operating Segments
Segment Reporting Information [Line Items]
Net revenues	$ (3,020)	$ (711)	$ (11,003)	$ (6,813)