Quarterly report pursuant to sections 13 or 15(d)

Disclosures About Reportable Segments

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Disclosures About Reportable Segments
 9 Months Ended
Jun. 30, 2011
Disclosures About Reportable Segments  
Disclosures About Reportable Segments

Note 6. Disclosures about reportable segments:

Alico has six reportable segments: Bowen, Citrus Groves, Sugarcane, Cattle, Real Estate and Leasing. All of the Company's operations are located in Florida. Intersegment sales and transfers are accounted by the Company as if the sales or transfers were to third parties at current market prices.

Bowen's operations include harvesting, hauling and marketing citrus for both Alico and other outside growers in the State of Florida. Bowen's operations also include the purchase and resale of citrus fruit. Alico's citrus grove operations consist of cultivating citrus trees in order to produce citrus for delivery to the fresh and processed citrus markets in the State of Florida. Alico's sugarcane operations consist of cultivating sugarcane for sale to a sugar processor. Alico's cattle operation is engaged primarily in the production of beef cattle and the raising of replacement heifers. The goods and services produced by these segments are sold to wholesalers and processors in the United States who prepare the products for consumption.

The real estate segment, operated on behalf of Alico by Alico Land Development Inc., is engaged in the planning and strategic positioning of all Company owned land, which includes seeking entitlement of the land assets in order to preserve rights to develop the property in the future and negotiating and/or renegotiating sales contracts. Alico's leasing segment leases land to others on a tenant-at-will basis for grazing, farming, oil and mineral exploration and recreational uses.

 

The following table summarizes the performance of the Company's segments and the related depreciation for the three and nine month periods ended June 30, 2011 and 2010, and the related assets as of June 30, 2011 and September 30, 2010:

 

     Three months ended
June  30,		     Nine months ended
June  30,		  
     2011     2010     2011     2010  

Revenues (from external customers except as noted)

         

Bowen

    $ 16,131      $ 10,943      $ 35,044      $ 27,922   

Intersegment sales through Bowen

      4,532        3,339        9,679        8,112   

Citrus Groves

      22,049        15,066        46,685        36,114   

Sugarcane

      211        (17 )      7,672        3,921   

Cattle

      220        116        669        609   

Real estate

      —          —          —          —     

Leasing

      621        627        1,912        1,814   
                                

Revenue from segments

      43,764        30,074        101,661        78,492   

Other operations

      109        1,705        404        3,832   

Less: intersegment revenues eliminated

      (4,532 )      (3,339 )      (9,679 )      (8,112 ) 
                                

Total operating revenue

    $ 39,341      $ 28,440      $ 92,386      $ 74,212   
                                

Operating expenses

         

Bowen

    $ 15,468      $ 10,602      $ 33,798      $ 26,950   

Intersegment sales through Bowen

      4,532        3,339        9,679        8,112   

Citrus Groves

      11,407        10,048        27,378        26,053   

Sugarcane

      36        —          6,874        3,943   

Cattle

      120        72        382        434   

Real estate

      90        143        364        562   

Leasing

      292        288        908        847   
                                

Segment operating expenses

      31,945        24,492        79,383        66,901   

Other operations

      89        1,904        282        5,567   

Less: intersegment expenses eliminated

      (4,532 )      (3,339 )      (9,679 )      (8,112 ) 
                                

Total operating expenses

    $ 27,502      $ 23,057      $ 69,986      $ 64,356   
                                

Gross profit (loss):

         

Bowen

    $ 663      $ 341      $ 1,246      $ 972   

Citrus Groves

      10,642        5,018        19,307        10,061   

Sugarcane

      175        (17 )      798        (22 ) 

Cattle

      100        44        287        175   

Real estate

      (90 )      (143 )      (364 )      (562 ) 

Leasing

      329        339        1,004        967   
                                

Gross profit from segments

      11,819        5,582        22,278        11,591   

Other operations

      20        (199 )      122        (1,735 ) 
                                

Gross profit

    $ 11,839      $ 5,383      $ 22,400      $ 9,856   
                                

Depreciation, depletion and amortization:

            

Bowen

    $ 41       $ 77       $ 170       $ 238   

Citrus Groves

      488         502         1,463         1,523   

Sugarcane

      787         474         2,061         1,219   

Cattle

      258         326         781         985   

Leasing

      45         133         135         423   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total segment depreciation and amortization

      1,619         1,512         4,610         4,388   

Other depreciation, depletion and amortization

      282         170         764         713   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total depreciation, depletion and amortization

    $ 1,901       $ 1,682       $ 5,374       $ 5,101   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

     June 30,
2011		      September 30,
2010		  

Total assets:

      

Bowen

    $ 4,772       $ 3,032   

Citrus Groves

      53,080         46,244   

Sugarcane

      49,172         47,529   

Cattle

      12,607         12,314   

Real Estate

      12,730         12,374   

Leasing

      3,894         4,019   
  

 

 

     

 

 

  

Segment assets

      136,255         125,512   

Other Corporate assets

      53,573         63,305   
  

 

 

     

 

 

  

Total assets

    $ 189,828       $ 188,817