Income Taxes (Tables)

12 Months Ended

Oct. 31, 2016

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the provisions for income taxes for fiscal years 2016, 2015 and 2014 are as follows:

	2016		2015		2014
Current:
Federal	$	1,736,000	$	(3,315,000)	$	(2,820,000)
State		(749,000)		(1,007,000)		(882,000)
Foreign		(59,000)		(2,000)		-
Total current benefit (provision)		928,000		(4,324,000)		(3,702,000)

Deferred:
Federal		(5,942,000)		343,000		80,000
State		(253,000)		7,000		49,000
Total deferred (provision) benefit		(6,195,000)		350,000		129,000
Total provision	$	(5,267,000)	$	(3,974,000)	$	(3,573,000)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of deferred income tax assets (liabilities) at October 31, 2016 and 2015 are as follows:

	2016		2015
Deferred income tax assets:
Labor accruals	$	246,000	$	246,000
State income taxes		293,000		337,000
Net operating losses		1,000		18,000
Prepaid insurance and other		69,000		38,000
Impairments of real estate development assets		3,147,000		3,152,000
Derivative instruments		452,000		669,000
Minimum pension liability adjustment		2,207,000		1,715,000
Amortization		462,000		683,000
Total deferred income tax assets		6,877,000		6,858,000
Deferred income tax liabilities:
Property taxes		(184,000)		(205,000)
Depreciation		(11,644,000)		(5,518,000)
Unrealized net gain on Calavo investment		(5,792,000)		(5,864,000)
Book and tax basis difference of acquired assets		(14,471,000)		(14,482,000)
Other		(114,000)		(214,000)
Total deferred income tax liabilities		(32,205,000)		(26,283,000)
Net deferred income tax liabilities	$	(25,328,000)	$	(19,425,000)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The income tax provision differs from that computed using the federal statutory rate applied to income before taxes as follows for fiscal years 2016, 2015 and 2014:

	2016					2015					2014
	Amount		%			Amount		%			Amount		%

Provision at statutory rates	$	(4,530,000)		(34.0)	%	$	(3,757,000)		(34.0)	%	$	(3,587,000)		(34.0)	%
State income tax, net of federal benefit		(733,000)		(5.5)	%		(614,000)		(5.5)	%		(552,000)		(5.2)	%
Dividend exclusion		72,000		0.5	%		94,000		0.8	%		83,000		0.8	%
Production deduction		50,000		0.4	%		495,000		4.5	%		461,000		4.4	%
Other permanent items		(126,000)		(0.9)	%		(192,000)		(1.7)	%		22,000		0.2	%
Total income tax provision	$	(5,267,000)		(39.5)	%	$	(3,974,000)		(35.9)	%	$	(3,573,000)		(33.8)	%