LEASES (Tables)

6 Months Ended

Apr. 30, 2020

Leases [Abstract]

Lease, Cost

The following table presents the components of our lease costs (in thousands) paid during the three and six months ended April 30, 2020:

Description	Three Months Ended April 30, 2020		Six Months Ended April 30, 2020
Operating lease cost	$	3,871	$	8,268
Short-term lease cost	922		1,787
Variable lease cost (1)	102,298		203,940
Total lease cost	$	107,091	$	213,995

(1) Variable lease costs are attributable to payments made to independent contract poultry producers and are based on or influenced by output received from contract producers, birds placed, poultry house size and relative performance.

Other information regarding our operating leases includes the following:

Description	Amount
Cash outflows for operating leases included in the measurement of lease liabilities during the six months ended April 30, 2020 (in thousands)	$	8,733
Non-cash amount of right of use assets and lease liabilities recorded upon adoption (in thousands) (1)	$	54,665
Weighted-average remaining lease term as of April 30, 2020 (years)	4.0
Weighted-average discount rate as of April 30, 2020	2.45		%

(1) There were no new right of use assets obtained in exchange for lease liabilities during the six months ended April 30, 2020.

Schedule of Future Minimum Rental Payments for Operating Leases

The future maturities of obligations under non-cancelable operating leases at April 30, 2020 were as follows (in thousands):

Fiscal Year	Amount
2020 (remainder)	$	7,299
2021	14,398
2022	11,969
2023	8,327
2024	4,744
Thereafter	2,430
Total undiscounted operating lease payments	49,167
Less: imputed interest	(3,254)
Present value of lease liabilities	$	45,913