Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.7.0.1
Segment Information
 9 Months Ended
Jun. 30, 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. All intercompany transactions between the segments have been eliminated.

Information by operating segment is as follows:
(in thousands)
Three Months Ended June 30,
 
Nine Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Revenues:
 
 
 
 
 
 
 
Alico Citrus
$
49,993

 
$
45,639

 
$
122,537

 
$
135,916

Conservation and Environmental Resources
1,001

 
877

 
1,789

 
2,528

Other Operations
524

 
337

 
837

 
902

Total revenues
51,518

 
46,853

 
125,163

 
139,346

 
 
 
 
 
 
 
 
Operating expenses:
 
 
 
 
 
 
 
Alico Citrus
35,059

 
31,706

 
90,067

 
101,030

Conservation and Environmental Resources
1,451

 
1,399

 
2,726

 
3,540

Other Operations
—

 
65

 
93

 
212

Total operating expenses
36,510

 
33,170

 
92,886

 
104,782

 
 
 
 
 
 
 
 
Gross profit (loss):
 
 
 
 
 
 
 
Alico Citrus
14,934

 
13,933

 
32,470

 
34,886

Conservation and Environmental Resources
(450
)
 
(522
)
 
(937
)
 
(1,012
)
Other Operations
524

 
272

 
744

 
690

Total gross profit
$
15,008

 
$
13,683

 
$
32,277

 
$
34,564

 
 
 
 
 
 
 
 
Depreciation, depletion and amortization:
 
 
 
 
 
 
 
Alico Citrus
$
3,508

 
$
3,418

 
$
10,529

 
$
10,166

Conservation and Environmental Resources
150

 
342

 
469

 
871

Other Operations
3

 
106

 
66

 
306

Other Depreciation, Depletion and Amortization
72

 
178

 
465

 
745

Total depreciation, depletion and amortization
$
3,733

 
$
4,044

 
$
11,529

 
$
12,088

(in thousands)
June 30, 2017
 
September 30, 2016
 
 
 
 
Assets:
 
 
 
Alico Citrus
$
403,249

 
$
410,663

Conservation and Environmental Resources
14,955

 
13,073

Other Operations
20,089

 
22,050

Other Corporate Assets
8,928

 
9,659

Total Assets
$
447,221

 
$
455,445