Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Oct. 31, 2016

Financial Statements of Consignment Arrangements

Amounts recorded for each of the fiscal years ended October 31, 2016, 2015 and 2014 in the financial statements pursuant to consignment arrangements are as follows (in thousands):


	2016		2015		2014

Sales	$	34,919	$	28,139	$	30,721
Cost of Sales		30,729		25,177		27,759
Gross Margin	$	4,190	$	2,962	$	2,962

Schedule of basic and diluted net income per share

Basic and diluted net income per share is calculated as follows (U.S. dollars in thousands, except share and per share data):



	Year ended October 31,
	2016		2015		2014
Numerator:
Net Income attributable to Calavo Growers, Inc.	$	38,022	$	27,199	$	97
Denominator:
Weighted average shares - Basic		17,347,121		17,295,305		15,765,102
Effect on dilutive securities – Restricted stock/options		83,560		67,731		1,455,000
Weighted average shares - Diluted		17,430,681		17,363,036		17,220,102
Net income per share attributable to Calavo Growers, Inc:
Basic	$	2.19	$	1.57	$	0.01
Diluted	$	2.18	$	1.57	$	0.01

Reconciles Shareholders' Equity Attributable to Noncontrolling Interest

The following tables reconcile shareholders’ equity attributable to noncontrolling interest related to the Salsa Lisa acquisition, and Avocados de Jalisco (in thousands).



	Year ended		Year ended
Salsa Lisa noncontrolling interest	October 31, 2016		October 31, 2015

Noncontrolling interest, beginning	$	285	$	270
Accretion attributable to noncontrolling interest of Salsa Lisa		486		15
Noncontrolling interest, ending	$	771	$	285

The noncontrolling interest for Salsa Lisa is recorded at the greater of the noncontrolling interest balance adjusted for the attribution of loss or the amount redeemable pursuant to the acquisition agreement. For fiscal 2016, we recorded an adjustment of $486,000 to increase the noncontrolling interest balance to the expected redeemable amount of $771,000. This adjustment has been included in net (income) loss attributed to noncontrolling interest.


	Year ended		Year ended
Avocados de Jalisco noncontrolling interest	October 31, 2016		October 31, 2015

Noncontrolling interest, beginning	$	1,011	$	—
Noncontrolling interest contribution		—		1,011
Net loss attributable to noncontrolling interest of Avocados de Jalisco		(49)		—
Noncontrolling interest, ending	$	962	$	1,011