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Leases (Tables)
12 Months Ended
Oct. 31, 2020
Leases [Abstract]  
Components of Lease Cost The following table presents the components of our lease costs (in thousands) paid during fiscal year 2020.
DescriptionFiscal Year 2020
Operating lease cost$15,673 
Short-term lease cost3,342 
Variable lease cost (1)
421,900 
Total lease cost$440,915 
(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:
DescriptionAmount
Cash outflows for operating leases included in the measurement of lease liabilities during fiscal year 2020 (in thousands)$13,860
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 October 31, 2020 (years)3.8
Weighted-average discount rate as of October 31, 20202.49%
(1) There were no material right-of-use assets obtained in exchange for lease liabilities during fiscal year 2020.
Schedule of Maturities of Operating Leases
The future maturities of obligations under non-cancelable operating leases at October 31, 2020 were as follows (in thousands):
Fiscal YearAmount
2021$14,944 
202212,546 
20238,915 
20244,842 
Thereafter2,396 
Total undiscounted operating lease payments43,643 
Less: imputed interest(2,858)
Present value of lease liabilities$40,785