Quarterly report pursuant to sections 13 or 15(d)

Property, Buildings and Equipment, Net

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Property, Buildings and Equipment, Net
 6 Months Ended
Mar. 31, 2014
Property, Buildings and Equipment, Net [Abstract]  
Property, Buildings and Equipment, Net

Note 3. Property, Buildings and Equipment, Net

Property, buildings and equipment consisted of the following at March 31, 2014 and September 30, 2013:

         
(in thousands)   March 31,
2014		   September 30,
2013
 
Breeding herd   $ 11,659     $ 12,234  
Buildings     13,670       11,587  
Citrus trees     29,164       34,188  
Sugarcane     18,846       16,199  
Equipment and other facilities     57,762       47,278  
                 
 
Total depreciable properties     131,101       121,486  
Less accumulated depreciation and depletion     (75,728 )     (71,857 )
                 
 
Net depreciable properties     55,373       49,629  
Land and land improvements     75,494       81,442  
                 
 
Net property, buildings and equipment   $ 130,867     $ 131,071  

 


Assets held for sale

In December 2013, the Company's Board of Directors approved listing certain parcels of real estate for sale in Polk and Hendry counties totaling approximately 3,200 acres, including approximately 80 acres of active citrus groves. As a result, the Company reclassified the net book value of the properties to assets held for sale as of December 31, 2013. The estimated fair value of the properties exceeds their net book value, and no impairment was recognized as a result of the reclassification.