Quarterly report pursuant to sections 13 or 15(d)

Disclosures about reportable segments

v2.4.0.6
Disclosures about reportable segments
 6 Months Ended
Mar. 31, 2013
Disclosures about reportable segments [Abstract]  
Disclosures about reportable segments

Note 6. Disclosures about reportable segments

 

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 pasture land.
  · Other Operations include activities related to rock and sand mining, oil exploration and other insignificant lines of business.

 

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 for 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 which 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.

 

 

Information by business segment is as follows:

 

    For the Three Months Ended March 31, 2013
      Citrus Groves       Agricultural
Supply Chain
Management 		     

Improved

Farmland

       Ranch and Conservation       Other Operations      

Intra-Company

Eliminations

       Total  
Revenues                                                        
Alico Fruit   $ -     $ 16,134     $ -     $ -     $ -     $ (4,264 )   $ 11,870  
Citrus Groves     17,062       -       -       -       -       -       17,062  
Sugarcane     -       -       8,664       -       -       -       8,664  
Cattle     -       -       -       11       -       -       11  
Land leasing and rentals     -       -       265       247       109       -       621  
Other operations     -       -       -       80       102       -       182  
Total operating revenue     17,062       16,134       8,929       338       211       (4,264 )     38,410  
                                                         
Operating expenses:                                                        
Alico Fruit     -       15,521       -       -       -       (4,264 )     11,257  
Citrus Groves     12,839       -       -       -       -       -       12,839  
Sugarcane     -       -       7,077       -       -       -       7,077  
Cattle     -       -       -       8       -       -       8  
Land leasing and rentals     -       -       65       55       72       -       192  
Other operations(a)     -       -       -       -       23       -       23  
Total operating expenses     12,839       15,521       7,142       63       95       (4,264 )     31,396  
                                                         
Gross profit:                                                        
Alico Fruit     -       613       -       -       -       -       613  
Citrus Groves     4,223       -       -       -       -       -       4,223  
Sugarcane     -       -       1,587       -       -       -       1,587  
Cattle     -       -       -       3       -       -       3  
Land leasing and rentals     -       -       200       192       37       -       429  
Other operations(a)     -       -       -       80       79       -       159  
Gross profit   $ 4,223     $ 613     $ 1,787     $ 275     $ 116     $ -     $ 7,014  

 

  (a) Other operations include the former real estate segment, as well as other operating activities.

 

 

    For the Three Months Ended March 31, 2012
      Citrus Groves       Agricultural Supply Chain Management      

Improved

Farmland

       Ranch and Conservation       Other Operations      

Intra-Company

Eliminations

       Total  
Revenues                                                        
Alico Fruit   $ -     $ 25,368     $ -     $ -     $ -     $ (5,080 )   $ 20,288  
Citrus Groves     25,094       -       -       -       -       -       25,094  
Sugarcane     -       -       7,572       -       -       -       7,572  
Cattle     -       -       -       378       -       -       378  
Land leasing and rentals     -       -       250       267       108       -       625  
Other operations     -       -       -       106       34       -       140  
Total operating revenue     25,094       25,368       7,822       751       142       (5,080 )     54,097  
                                                         
Operating expenses:                                                        
Alico Fruit     -       24,612       -       -       -       (5,080 )     19,532  
Citrus Groves     13,851       -       -       -       -       -       13,851  
Sugarcane     -       -       5,912       -       -       -       5,912  
Cattle     -       -       -       168       -       -       168  
Land leasing and rentals     -       -       105       82       75       -       262  
Other operations(a)     -       -       -       -       134       -       134  
Total operating expenses     13,851       24,612       6,017       250       209       (5,080 )     39,859  
                                                         
Gross profit:                                                        
Alico Fruit     -       756       -       -       -       -       756  
Citrus Groves     11,243       -       -       -       -       -       11,243  
Sugarcane     -       -       1,660       -       -       -       1,660  
Cattle     -       -       -       210       -       -       210  
Land leasing and rentals     -       -       145       185       33       -       363  
Other operations(a)     -       -       -       106       (100 )     -       6  
Gross profit   $ 11,243     $ 756     $ 1,805     $ 501     $ (67 )   $ -     $ 14,238  

 

  (a) Other operations include the former real estate segment, as well as other operating activities.
    For the Six Months Ended March 31, 2013
      Citrus Groves       Agricultural Supply Chain Management      

Improved

Farmland

       Ranch and Conservation       Other Operations      

Intra-Company

Eliminations

       Total  
Revenues                                                        
Alico Fruit   $ -     $ 23,404     $ -     $ -     $ -     $ (6,245 )   $ 17,159  
Citrus Groves     24,455       -       -       -       -       -       24,455  
Sugarcane     -       -       16,471       -       -       -       16,471  
Cattle     -       -       -       188       -       -       188  
Land leasing and rentals     -       -       448       490       230       -       1,168  
Other operations     -       -       -       178       147       -       325  
Total operating revenue     24,455       23,404       16,919       856       377       (6,245 )     59,766  
                                                         
Operating expenses:                                                        
Alico Fruit     -       23,036       -       -       -       (6,245 )     16,791  
Citrus Groves     18,699       -       -       -       -       -       18,699  
Sugarcane     -       -       12,834       -       -       -       12,834  
Cattle     -       -       -       118       -       -       118  
Land leasing and rentals     -       -       182       139       147       -       468  
Other operations(a)     -       -       -       3       53       -       56  
Total operating expenses     18,699       23,036       13,016       260       200       (6,245 )     48,966  
                                                         
Gross profit:                                                        
Alico Fruit     -       368       -       -       -       -       368  
Citrus Groves     5,756       -       -       -       -       -       5,756  
Sugarcane     -       -       3,637       -       -       -       3,637  
Cattle     -       -       -       70       -       -       70  
Land leasing and rentals     -       -       266       351       83       -       700  
Other operations(a)     -       -       -       175       94       -       269  
Gross profit   $ 5,756     $ 368     $ 3,903     $ 596     $ 177     $ -     $ 10,800  

 

  (a) Other operations include the former real estate segment, as well as other operating activities.

 

    For the Six Months Ended March 31, 2012
      Citrus Groves       Agricultural Supply Chain Management      

Improved

Farmland

       Ranch and Conservation       Other Operations      

Intra-Company

Eliminations

       Total  
Revenues                                                        
Alico Fruit   $ -     $ 37,707     $ -     $ -     $ -     $ (6,913 )   $ 30,794  
Citrus Groves     33,502       -       -       -       -       -       33,502  
Sugarcane     -       -       13,659       -       -       -       13,659  
Cattle     -       -       -       600       -       -       600  
Land leasing and rentals     -       -       504       542       210       -       1,256  
Other operations     -       -       -       265       68       -       333  
Total operating revenue     33,502       37,707       14,163       1,407       278       (6,913 )     80,144  
                                                         
Operating expenses:                                                        
Alico Fruit     -       36,640       -       -       -       (6,913 )     29,727  
Citrus Groves     19,008       -       -       -       -       -       19,008  
Sugarcane     -       -       10,551       -       -       -       10,551  
Cattle     -       -       -       318       -       -       318  
Land leasing and rentals     -       -       226       139       151       -       516  
Other operations(a)     -       -       -       -       272       -       272  
Total operating expenses     19,008       36,640       10,777       457       423       (6,913 )     60,392  
                                                         
Gross profit:                                                        
Alico Fruit     -       1,067       -       -       -       -       1,067  
Citrus Groves     14,494       -       -       -       -       -       14,494  
Sugarcane     -       -       3,108       -       -       -       3,108  
Cattle     -       -       -       282       -       -       282  
Land leasing and rentals     -       -       278       403       59       -       740  
Other operations(a)     -       -       -       265       (204 )     -       61  
Gross profit   $ 14,494     $ 1,067     $ 3,386     $ 950     $ (145 )   $ -     $ 19,752  

 

  (a) Other operations include the former real estate segment, as well as other operating activities.

 

 

 

  

Three months ended

March 31,

  

Six months ended

March 31,
    2013   2012   2013   2012
Depreciation, depletion and amortization:                                
Alico Fruit   $ 61     $ 57     $ 123     $ 101  
Citrus Groves     524       522       1,043       1,043  
Sugarcane     1,334       1,109       2,414       1,920  
Cattle     329       304       544       536  
Land Leasing and Rentals     96       110       192       217  
Total segment depreciation, depletion and amortization     2,344       2,102       4,316       3,817  
Other depreciation, depletion and amortization     142       109       322       290  
Total depreciation, depletion and amortization   $ 2,486     $ 2,211     $ 4,638     $ 4,107  

 

 

 

 

 

 

 

 

 

 

 

 

 

   

March 31,

2013

September 30,

2012
Total assets:          
Alico Fruit   $ 2,172 $ 2,066
Citrus Groves     47,421   47,154
Sugarcane     67,624   63,916
Cattle     15,441   11,274
Land leasing and rentals     4,597   4,905
Segment assets     137,255   129,315
Other corporate assets     41,301   55,768
Total assets   $ 178,556 $ 185,083