Segment and Revenue Information (Tables)

3 Months Ended

Jan. 31, 2024

Net sales from each of our reportable segments were as follows.


	Marketing and Distribution		International Farming		Blueberries		Total		Marketing and Distribution		International Farming		Blueberries		Total
	Three Months Ended January 31,
(In millions)	2024								2023







Third party sales	$	224.6	$	1.6	$	32.5	$	258.7	$	181.8	$	1.9	$	29.8	$	213.5
Affiliated sales	—		4.2		—		4.2		—		3.8		—		3.8
Total segment sales	224.6		5.8		32.5		262.9		181.8		5.7		29.8		217.3
Intercompany eliminations	—		(4.2)		—		(4.2)		—		(3.8)		—		(3.8)
Total net sales	$	224.6	$	1.6	$	32.5	$	258.7	$	181.8	$	1.9	$	29.8	$	213.5

Supplemental sales information is as follows.


	Three Months Ended January 31,
(In millions)	2024		2023
By type
Avocado	$	212.3	$	174.0
Blueberry	32.5		29.8
Mango	10.9		7.3
Other	3.0		2.4
Total net sales	$	258.7	$	213.5
By customer location
United States	$	211.8	$	174.6
Rest of world	46.9		38.9
Total net sales	$	258.7	$	213.5

Reconciliation of Revenue from Segments to Consolidated

Adjusted EBITDA (as defined above) for each of our reportable segments was as follows:


	Three Months Ended January 31,
(In millions)	2024		2023
Marketing and Distribution adjusted EBITDA	$	11.0	$	4.6
International Farming adjusted EBITDA	(0.5)		(1.8)
Blueberries adjusted EBITDA	8.7		(0.5)
Total reportable segment adjusted EBITDA	19.2		2.3
Net income (loss)	2.0		(10.6)
Interest expense	3.3		2.4
Provision (benefit) for income taxes	2.1		(1.7)
Depreciation and amortization(1)	12.9		9.3
Equity method income	(0.4)		(1.0)
Stock-based compensation	1.4		0.7
Asset impairment and disposals, net of insurance recoveries	0.2		0.3
Farming costs for nonproductive orchards	0.5		0.4
ERP costs(2)	0.5		0.6
Severance	1.3		—
Legal settlement	0.2		—
Transaction costs	—		0.1
Amortization of inventory adjustment recognized from business combination	—		0.7
Other expense, net	1.0		0.8
Noncontrolling interest(3)	(5.8)		0.3
Total adjusted EBITDA	$	19.2	$	2.3

(1)Includes depreciation and amortization of purchase accounting assets of $2.9 million and $1.6 million for the three months ended January 31, 2024 and 2023, respectively. The three months ended January 31, 2024 include $4.1 million of accelerated depreciation expense for certain blueberry plants determined to have no remaining useful life.

(2)Recognition of deferred ERP implementation costs.

(3)Represents net income (loss) attributable to noncontrolling interest plus the impact of non-GAAP adjustments, allocable to the noncontrolling owner based on their percentage of ownership interest.