Quarterly report pursuant to sections 13 or 15(d)

Disclosures about reportable segments

v2.4.0.6
Disclosures about reportable segments
 3 Months Ended
Dec. 31, 2012
Disclosures about reportable segments [Abstract]  
Disclosures about reportable segments

Note 7. Disclosures about reportable segments

 

Segments

 

The Company is organized into six operating segments which span our five lines of business. The operating segments are strategic business units that offer different products and services. They are managed separately and decisions about allocation of resources are determined by our management team based on these strategic business units. The operating segments are as follows:

  · Citrus Groves include activities related to planting, cultivating and/or managing citrus groves in order to produce fruit for delivery to fresh and processed citrus markets.
  · Alico Fruit includes activities related to agricultural value-added services which include contracting for harvesting, hauling and marketing and the purchase and resale of fruit.
  · Sugarcane includes activities related to planting, cultivating and/or managing sugarcane fields in order to produce sugarcane for sale to a sugar processor.
  · Cattle includes the production of beef cattle for sale.
  · Land Leasing and Rentals includes the leasing of land to others on a tenant-at-will basis for grazing, farming, oil and mineral exploration and recreational uses.
  · Other Operations consists of insignificant operations that do not otherwise fit within the other five defined operating segments.

 

Intersegment sales and transfers are accounted by the Company as if the sales or transfers were to third parties at current market prices. Goods and services produced by these segments are sold to wholesalers and processors in the United States who prepare the products for consumption. The Company evaluates the segments performance based on direct margins from operations before general and administrative costs, interest expense and income taxes not including nonrecurring gains and losses.

 

The accounting policies of the segments are the same as those described in Note 1, Description of the Business and Basis of Presentation. Total revenues represent sales to unaffiliated customers, as reported in the Company's Condensed Consolidated Statements of Operations. All intercompany transactions have been eliminated.

 

Lines of Business

 

The Company operates five lines of business related to our various land holdings. The lines of business are as follows:

 

  · Citrus Groves include activities related to planting, owning, cultivating and/or managing citrus groves on prepared grove land in order to produce fruit for sale to fresh and processed citrus markets.
  · Agricultural Supply Chain Management and Support includes activities related to value-added services which include contracting for harvesting, marketing and hauling and the purchase and resale of fruit.
  · Improved Farmland includes activities related to planting, owning, cultivating, managing and/or leasing improved farmland. Improved farmland is acreage that has been recovered from native pasture and which has various improvements including irrigation, drainage and roads.
  · Ranch and Conservation includes activities related to cattle grazing and management, sod, native plant and animal sales, leasing, management and/or conservation of unimproved native pastureland.
  · Other Operations include activities related to rock and sand mining, oil exploration and other insignificant lines of business.

 

Information by business segment is as follows:

 

(dollars in thousands)   For the Three Months Ended December 31, 2012
      Citrus Groves       Agricultural
Supply Chain
Management		      

Improved

Farmland

       Ranch and
Conservation		       Other Operations      

Intra-Company

Eliminations

       Total  
Revenues                                                        
Alico Fruit   $ -     $ 7,270     $ -     $ -     $ -     $ (1,981 )   $ 5,289  
Citrus Groves     7,393       -       -       -       -       -       7,393  
Sugarcane     -       -       7,807       -       -       -       7,807  
Cattle     -       -       -       177       -       -       177  
Land leasing and rentals     -       -       183       244       120       -       547  
Other operations     -       -       -       97       46       -       143  
Total operating revenue     7,393       7,270       7,990       518       166       (1,981 )     21,356  
Operating expenses:                                                        
Alico Fruit     -       7,515       -       -       -       (1,981 )     5,534  
Citrus Groves     5,860       -       -       -       -       -       5,860  
Sugarcane     -       -       5,757       -       -       -       5,757  
Cattle     -       -       -       110       -       -       110  
Land leasing and rentals     -       -       117       87       72       -       276  
Other operations(a)     -       -       -       -       33       -       33  
Total operating expenses     5,860       7,515       5,874       197       105       (1,981 )     17,570  
Gross profit:                                                        
Alico Fruit     -       (245 )     -       -       -       -       (245 )
Citrus Groves     1,533       -       -       -       -       -       1,533  
Sugarcane     -       -       2,050       -       -       -       2,050  
Cattle     -       -       -       67       -       -       67  
Land leasing and rentals     -       -       66       157       48       -       271  
Other operations(a)     -       -       -       97       13       -       110  
Gross profit   $ 1,533     $ (245 )   $ 2,116     $ 321     $ 61     $ -     $ 3,786  
  (a) Other operations include the former real estate segment.

 

(dollars in thousands)   For the Three Months Ended December 31, 2011
      Citrus Groves       Agricultural
Supply Chain
Management 		     

Improved

Farmland

       Ranch and
Conservation 		      Other Operations      

Intra-Company

Eliminations

       Total  
Revenues                                                        
Alico Fruit   $ -     $ 12,339     $ -     $ -     $ -     $ (1,833 )   $ 10,506  
Citrus Groves     8,408       -       -       -       -       -       8,408  
Sugarcane     -       -       6,087       -       -       -       6,087  
Cattle     -       -       -       222       -       -       222  
Land leasing and rentals     -       -       254       275       102       -       631  
Other operations     -       -       -       159       34       -       193  
Total operating revenue     8,408       12,339       6,341       656       136       (1,833 )     26,047  
Operating expenses:                                                        
Alico Fruit     -       12,028       -       -       -       (1,833 )     10,195  
Citrus Groves     5,157       -       -       -       -       -       5,157  
Sugarcane     -       -       4,639       -       -       -       4,639  
Cattle     -       -       -       150       -       -       150  
Land leasing and rentals     -       -       121       57       76       -       254  
Other operations(a)             -       -       -       138       -       138  
Total operating expenses     5,157       12,028       4,760       207       214       (1,833 )     20,533  
Gross profit:                                                        
Alico Fruit     -       311       -       -       -       -       311  
Citrus Groves     3,251       -       -       -       -       -       3,251  
Sugarcane     -       -       1,448       -       -       -       1,448  
Cattle     -       -       -       72       -       -       72  
Land leasing and rentals     -       -       133       218       26       -       377  
Other operations(a)     -       -       -       159       (104 )     -       55  
Gross profit   $ 3,251     $ 311     $ 1,581     $ 449     $ (78 )   $ -     $ 5,514  
  (a) Other operations include the former real estate segment.
(dollars in thousands)  

Three months ended

December 31,

  
    2012     2011  
Depreciation, depletion and amortization:                
Alico Fruit   $ 62     $ 44  
Citrus Groves     519       521  
Sugarcane     1,080       811  
Cattle     215       232  
Land leasing and rentals     96       107  
Total segment depreciation and amortization     1,972       1,715  
Other depreciation, depletion and amortization     180       181  
Total depreciation, depletion and amortization   $ 2,152     $ 1,896  

 

(dollars in thousands)  

December 31,

2012

    

September 30,

2012

  
Total assets:                
Alico Fruit   $ 3,727     $ 2,066  
Citrus Groves     49,319       47,154  
Sugarcane     66,194       63,916  
Cattle     13,391       11,274  
Land leasing and rentals     4,693       4,905  
Segment assets     137,324       129,315  
Other corporate assets     38,728       55,768  
Total assets   $ 176,052     $ 185,083