Quarterly report pursuant to sections 13 or 15(d)

Disclosures about reportable segments

v2.4.0.8
Disclosures about reportable segments
 9 Months Ended
Jun. 30, 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 in order to produce fruit for sale to fresh and processed citrus markets.

 

  · Agricultural Supply Chain Management and Support includes activities related to the purchase and resale of fruit, as well as, to value-added services which include contracting for the harvesting, marketing and hauling of citrus.
  · Improved Farmland includes activities related to planting, owning, cultivating, managing and/or leasing improved farmland. Improved farmland is acreage that has been converted, or is permitted to be converted, from native pasture and which has various improvements including irrigation, drainage and roads.
  · Ranch and Conservation includes activities related to cattle grazing, sod, native plant and animal sales, leasing, management and/or conservation of unimproved native pasture land.
  · Other Operations include activities related to rock mining royalties, 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 the purchase and resale of fruit, as well as, to value-added services which include contracting for the harvesting, marketing and hauling of citrus.
  · 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 include activities related to rock mining royalties, oil exploration and other insignificant lines of business.

 

 

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 June 30, 2013
(in thousands)   Citrus Groves   Agricultural Supply Chain Management   Improved Farmland   Ranch and Conservation   Other Operations   Total
                         
Revenues:                                                
Alico Fruit   $ -     $ 10,553     $ -     $ -     $ -     $ 10,553  
Citrus Groves     19,209       -       -       -       -       19,209  
Sugarcane     -       -       4,549       -       -       4,549  
Cattle     -       -       -       105       -       105  
Land leasing and rentals     -       -       211       238       106       555  
Other operations     -       -       -       66       192       258  
Intersegment Revenues - Alico Fruit     -       4,674       -       -       -       4,674  
Eliminations     -       (4,674 )     -       -       -       (4,674 )
                                                 
Total revenue     19,209       10,553       4,760       409       298       35,229  
                                                 
Operating expenses:                                                
Alico Fruit     -       10,095       -       -       -       10,095  
Citrus Groves     12,789       -       -       -       -       12,789  
Sugarcane     -       -       2,955       -       -       2,955  
Cattle     -       -       -       61       -       61  
Land leasing and rentals     -       -       73       56       72       201  
Other operations(a)     -       -       -       3       60       63  
                                                 
Total operating expenses     12,789       10,095       3,028       120       132       26,164  
                                                 
Gross profit:                                                
Alico Fruit     -       458       -       -       -       458  
Citrus Groves     6,420       -       -       -       -       6,420  
Sugarcane     -       -       1,594       -       -       1,594  
Cattle     -       -       -       44       -       44  
Land leasing and rentals     -       -       138       182       34       354  
Other operations(a)     -       -       -       63       132       195  
                                                 
Total gross profit   $ 6,420     $ 458     $ 1,732     $ 289     $ 166     $ 9,065  
                                                 
(a) Other Operations includes the former Real Estate segment as well as other operations.

 

For the Three Months Ended June 30, 2012

(in thousands)

 

   Citrus Groves   Agricultural Supply Chain Management   Improved Farmland   Ranch and Conservation   Other Operations   Total
                         
Revenues:                                                
Alico Fruit   $ -     $ 16,753     $ -     $ -     $ -     $ 16,753  
Citrus Groves     21,829       -       -       -       -       21,829  
Sugarcane     -       -       652       -       -       652  
Cattle     -       -       -       378       -       378  
Land leasing and rentals     -       -       245       271       156       672  
Other operations     -       -       -       69       48       117  
Intersegment Revenues - Alico Fruit     -       4,907       -       -       -       4,907  
Eliminations     -       (4,907 )     -       -       -       (4,907 )
                                                 
Total revenue     21,829       16,753       897       718       204       40,401  
                                                 
Operating expenses:                                                
Alico Fruit     -       16,496       -       -       -       16,496  
Citrus Groves     12,050       -       -       -       -       12,050  
Sugarcane     -       -       539       -       -       539  
Cattle     -       -       -       240       -       240  
Land leasing and rentals     -       -       101       76       75       252  
Other operations(a)     -       -       -       1       314       315  
                                                 
Total operating expenses     12,050       16,496       640       317       389       29,892  
                                                 
Gross profit:                                                
Alico Fruit     -       257       -       -       -       257  
Citrus Groves     9,779       -       -       -       -       9,779  
Sugarcane     -       -       113       -       -       113  
Cattle     -       -       -       138       -       138  
Land leasing and rentals     -       -       144       195       81       420  
Other operations(a)     -       -       -       68       (266 )     (198 )
                                                 
Total gross profit   $ 9,779     $ 257     $ 257     $ 401     $ (185 )   $ 10,509  
                                                 
(a) Other Operations includes the former Real Estate segment as well as other operations.

 

For the Nine Months Ended June 30, 2013
(in thousands)   Citrus Groves   Agricultural Supply Chain Management   Improved Farmland   Ranch and Conservation   Other Operations   Total
                         
Revenues:                                                
Alico Fruit   $ -     $ 27,712     $ -     $ -     $ -     $ 27,712  
Citrus Groves     43,664       -       -       -       -       43,664  
Sugarcane     -       -       21,020       -       -       21,020  
Cattle     -       -       -       293       -       293  
Land leasing and rentals     -       -       659       728       336       1,723  
Other operations     -       -       -       244       339       583  
Intersegment Revenues - Alico Fruit     -       10,919       -       -       -       10,919  
Eliminations     -       (10,919 )     -       -       -       (10,919 )
                                                 
Total revenue     43,664       27,712       21,679       1,265       675       94,995  
                                                 
Operating expenses:                                                
Alico Fruit     -       26,886       -       -       -       26,886  
Citrus Groves     31,488       -       -       -       -       31,488  
Sugarcane     -       -       15,789       -       -       15,789  
Cattle     -       -       -       179       -       179  
Land leasing and rentals     -       -       255       195       219       669  
Other operations(a)     -       -       -       6       113       119  
                                                 
Total operating expenses     31,488       26,886       16,044       380       332       75,130  
                                                 
Gross profit:                                                
Alico Fruit     -       826       -       -       -       826  
Citrus Groves     12,176       -       -       -       -       12,176  
Sugarcane     -       -       5,231       -       -       5,231  
Cattle     -       -       -       114       -       114  
Land leasing and rentals     -       -       404       533       117       1,054  
Other operations(a)     -       -       -       238       226       464  
                                                 
Total gross profit   $ 12,176     $ 826     $ 5,635     $ 885     $ 343     $ 19,865  
                                                 
(a) Other Operations includes the former Real Estate segment as well as other operations.

 

For the Nine Months Ended June 30, 2012
(in thousands)   Citrus Groves   Agricultural Supply Chain Management   Improved Farmland   Ranch and Conservation   Other Operations   Total
                         
Revenues:                                                
Alico Fruit   $ -     $ 47,547     $ -     $ -     $ -     $ 47,547  
Citrus Groves     55,331       -       -       -       -       55,331  
Sugarcane     -       -       14,311       -       -       14,311  
Cattle     -       -       -       978       -       978  
Land leasing and rentals     -       -       749       813       366       1,928  
Other operations     -       -       -       334       116       450  
Intersegment Revenues - Alico Fruit     -       11,820       -       -       -       11,820  
Eliminations     -       (11,820 )     -       -       -       (11,820 )
                                                 
Total revenue     55,331       47,547       15,060       2,125       482       120,545  
                                                 
Operating expenses:                                                
Alico Fruit     -       46,223       -       -       -       46,223  
Citrus Groves     31,058       -       -       -       -       31,058  
Sugarcane     -       -       11,090       -       -       11,090  
Cattle     -       -       -       558       -       558  
Land leasing and rentals     -       -       327       215       226       768  
Other operations(a)     -       -       -       1       586       587  
                                                 
Total operating expenses     31,058       46,223       11,417       774       812       90,284  
                                                 
Gross profit:                                                
Alico Fruit     -       1,324       -       -       -       1,324  
Citrus Groves     24,273       -       -       -       -       24,273  
Sugarcane     -       -       3,221       -       -       3,221  
Cattle     -       -       -       420       -       420  
Land leasing and rentals     -       -       422       598       140       1,160  
Other operations(a)     -       -       -       333       (470 )     (137 )
                                                 
Total gross profit   $ 24,273     $ 1,324     $ 3,643     $ 1,351     $ (330 )   $ 30,261  
                                                 
(a) Other Operations includes the former Real Estate segment as well as other operations.

 

(in thousands)   Three Months Ended June 30,   Nine Months Ended June 30,
    2013   2012   2013   2012
                 
Depreciation, depletion and amortization:                                
Alico Fruit   $ 48     $ 60     $ 171     $ 161  
Citrus Groves     535       519       1,578       1,562  
Sugarcane     1,307       1,049       3,721       2,969  
Cattle     312       265       856       801  
Land Leasing and Rentals     95       104       287       321  
Other depreciation, depletion and amortization     195       150       517       440  
                                 
Total depreciation, depletion and amortization   $ 2,492     $ 2,147     $ 7,130     $ 6,254  
                                 
                                 
(in thousands)                     June 30, 2013     September 30, 2012
                                 
Assets:                                
Alico Fruit                   $ 1,742     $ 2,066  
Citrus Groves                     45,115       47,154  
Sugarcane                     69,200       63,916  
Cattle                     16,041       11,274  
Land Leasing and Rentals                     4,635       4,905  
Other Corporate Assets                     45,919       55,768  
                                 
Total Assets                   $ 182,652     $ 185,083