Leases (Tables)
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12 Months Ended |
Oct. 31, 2022 |
Leases [Abstract] |
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Summary of 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 October 31 (in thousands): | | | | | | | | | | | | | 2022 | | 2021 | Land and land improvements | $ | 13,619 | | | $ | 3,516 | | Buildings, equipment and building improvements | 19,983 | | | 18,712 | | Orchards | 8,410 | | | — | | Less: accumulated depreciation | (7,912) | | | (6,331) | | Property, plant and equipment, net under operating leases | $ | 34,100 | | | $ | 15,897 | |
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Summary of Composition of Rental Operations Revenue |
The Company’s rental operations revenue consists of the following (in thousands): | | | | | | | | | | | | | Year ended October 31, | | 2022 | | 2021 | Operating lease revenue | $ | 4,998 | | | $ | 4,329 | | Variable lease revenue | 326 | | | 317 | | Total lease revenue | $ | 5,324 | | | $ | 4,646 | |
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Summary of 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 October 31, 2022 are as follows (in thousands): | | | | | | 2023 | $ | 1,278 | | 2024 | 964 | | 2025 | 964 | | 2026 | 222 | | 2027 | 74 | | Thereafter | 672 | | Total | $ | 4,174 | |
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Summary of Supplemental Balance Sheet Information Related to Leases |
Supplemental balance sheet information related to leases consists of the following as of October 31 (in thousands): | | | | | | | | | | | | | | | | | | | Classification | | 2022 | | 2021 | Assets | | | | | | Operating lease ROU assets | Other assets | | $ | 6,190 | | | $ | 2,041 | | Finance lease assets | Other assets | | 1,091 | | | 1,142 | | | | | $ | 7,281 | | | $ | 3,183 | | | | | | | | Liabilities | | | | | | Current operating lease liabilities | Accrued liabilities and payables to related parties | | $ | 1,892 | | | $ | 488 | | Current finance lease liabilities | Accrued liabilities | | 268 | | | 249 | | Non-current operating lease liabilities | Other long-term liabilities | | 4,347 | | | 1,648 | | Non-current finance lease liabilities | Other long-term liabilities | | 715 | | | 884 | | | | | $ | 7,222 | | | $ | 3,269 | | | | | | | | Weighted-average remaining lease term (in years): | | | | | Operating leases | | | 5.1 | | 10.9 | Finance leases | | | 3.9 | | 4.9 | Weighted-average discount rate: | | | | | | Operating leases | | | 6.1 | % | | 3.7 | % | Finance leases | | | 3.5 | % | | 3.3 | % |
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Summary of Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow information related to leases consists of the following (in thousands): | | | | | | | | | | | | | | | | | Year ended October 31, | | | 2022 | | 2021 | Cash paid for amounts included in the measurement of lease liabilities: | | | | | Operating cash outflows from operating leases | | $ | 577 | | | $ | 603 | | Operating cash outflows from finance leases | | $ | 35 | | | $ | 3 | | Financing cash outflows from finance leases | | $ | 219 | | | $ | 18 | | ROU assets obtained in exchange for new operating lease liabilities | | $ | 4,612 | | | $ | 271 | | Leased assets obtained in exchange for new finance lease liabilities | | $ | 68 | | | $ | 1,151 | |
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Summary of Future Minimum Lease Payments under Non-Cancellable Leases |
Future minimum lease payments under non-cancellable leases for each of the subsequent five fiscal years and thereafter are as follows (in thousands), which excludes $470,000 of operating lease payments for leases that have been signed but not commenced: | | | | | | | | | | | | | | | | | | | Operating | | Finance | | Total | 2023 | $ | 1,891 | | | $ | 268 | | | $ | 2,159 | | 2024 | 1,918 | | | 268 | | | 2,186 | | 2025 | 1,914 | | | 268 | | | 2,182 | | 2026 | 218 | | | 246 | | | 464 | | 2027 | 134 | | | — | | | 134 | | Thereafter | 1,046 | | | — | | | 1,046 | | Total lease payments | 7,121 | | | 1,050 | | | 8,171 | | Less: Imputed interest | (882) | | | (67) | | | (949) | | Present value of lease liabilities | $ | 6,239 | | | $ | 983 | | | $ | 7,222 | |
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Summary of Future Minimum Lease Payments under Non-Cancellable Leases |
Future minimum lease payments under non-cancellable leases for each of the subsequent five fiscal years and thereafter are as follows (in thousands), which excludes $470,000 of operating lease payments for leases that have been signed but not commenced: | | | | | | | | | | | | | | | | | | | Operating | | Finance | | Total | 2023 | $ | 1,891 | | | $ | 268 | | | $ | 2,159 | | 2024 | 1,918 | | | 268 | | | 2,186 | | 2025 | 1,914 | | | 268 | | | 2,182 | | 2026 | 218 | | | 246 | | | 464 | | 2027 | 134 | | | — | | | 134 | | Thereafter | 1,046 | | | — | | | 1,046 | | Total lease payments | 7,121 | | | 1,050 | | | 8,171 | | Less: Imputed interest | (882) | | | (67) | | | (949) | | Present value of lease liabilities | $ | 6,239 | | | $ | 983 | | | $ | 7,222 | |
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