Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.7.0.1
Segment Information
 6 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Segment Information
Segment Information
Segments
Operating segments are defined in ASC Topic 280, "Segment Reporting" as components of public entities that engage in business activities from which they may earn revenues and incur expenses for which separate financial information is available, and which are evaluated regularly by the Company’s CODM in deciding how to assess performance and allocate resources. The Company’s CODM assesses performance and allocates resources based on three operating segments: Alico Citrus, Conservation and Environmental Resources and Other Operations.

The Company manages its land based upon its primary usage, and reviews its performance based upon two primary classifications: Alico Citrus and Conservation and Environmental Resources.  In addition, Other Operations include leasing mines and oil extraction rights to third parties, as well as leasing improved farmland to third parties.  

Total revenues represent sales to unaffiliated customers, as reported in the Condensed Consolidated Statements of Operations. 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 (gross profit) from operations before general and administrative expenses, interest expense, other income (expense) and income taxes, not including nonrecurring gains and losses.  All intercompany transactions between the segments have been eliminated.

Information by operating segment is as follows:
(in thousands)
Three Months Ended March 31,
 
Six Months Ended March 31,
 
2017
 
2016
 
2017
 
2016
Revenues:
 
 
 
 
 
 
 
Alico Citrus
$
55,667

 
$
70,982

 
$
72,544

 
$
90,277

Conservation and Environmental Resources
487

 
644

 
788

 
1,651

Other Operations
46

 
263

 
313

 
565

Total revenues
56,200

 
71,889

 
73,645

 
92,493

 
 
 
 
 
 
 
 
Operating expenses:
 
 
 
 
 
 
 
Alico Citrus
40,923

 
51,716

 
55,008

 
69,324

Conservation and Environmental Resources
761

 
581

 
1,275

 
2,141

Other Operations
—

 
77

 
93

 
147

Total operating expenses
41,684

 
52,374

 
56,376

 
71,612

 
 
 
 
 
 
 
 
Gross profit (loss):
 
 
 
 
 
 
 
Alico Citrus
14,744

 
19,266

 
17,536

 
20,953

Conservation and Environmental Resources
(274
)
 
63

 
(487
)
 
(490
)
Other Operations
46

 
186

 
220

 
418

Total gross profit
$
14,516

 
$
19,515

 
$
17,269

 
$
20,881

 
 
 
 
 
 
 
 
Depreciation, depletion and amortization:
 
 
 
 
 
 
 
Alico Citrus
$
3,505

 
$
3,391

 
$
7,021

 
$
6,748

Conservation and Environmental Resources
150

 
297

 
319

 
529

Other Operations
31

 
94

 
63

 
200

Other Depreciation, Depletion and Amortization
194

 
254

 
393

 
567

Total depreciation, depletion and amortization
$
3,880

 
$
4,036

 
$
7,796

 
$
8,044

(in thousands)
March 31, 2017
 
September 30, 2016
 
 
 
 
Assets:
 
 
 
Alico Citrus
$
412,717

 
$
410,663

Conservation and Environmental Resources
15,136

 
13,073

Other Operations
32,093

 
22,050

Other Corporate Assets
13

 
9,659

Total Assets
$
459,959

 
$
455,445