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INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES
3 Months Ended
Jan. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES
 
The Company accounts for its majority-owned operations under the consolidation method. Investments in which the Company owns a minority interest and for which there are no other indicators of control are accounted for under the equity or cost method. These investments, along with any related receivables from affiliates, are included in the Consolidated Condensed Statements of Financial Position as Investments In and Receivables From Affiliates.
 
Investments In and Receivables From Affiliates consist of:
in thousandsSegment% OwnedJanuary 30, 2022October 31, 2021
MegaMex Foods, LLCGrocery Products50%$197,935 $205,413 
Other Joint VenturesInternational & Other
Various (20-40%)
88,558 93,606 
Total$286,493 $299,019 

Equity in Earnings of Affiliates consists of:
  Quarter Ended
in thousands
 
Segment
January 30, 2022January 24, 2021
MegaMex Foods, LLCGrocery Products$6,995 $12,433 
Other Joint VenturesInternational & Other(97)1,794 
Total$6,898 $14,228 
 
For the quarter ended January 30, 2022, $18.0 million of dividends were received from affiliates, compared to $11.3 million of dividends received for the quarter ended January 24, 2021.

The Company recognized a basis difference of $21.3 million associated with the formation of MegaMex Foods, LLC, of which $10.8 million is remaining as of January 30, 2022. This difference is being amortized through Equity in Earnings of Affiliates.