Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Sep. 30, 2016
Current assets:    
Cash and cash equivalents $ 3,395 $ 6,625
Accounts receivable, net 4,286 4,740
Inventories 36,204 58,469
Income tax receivable 0 1,013
Assets held for sale 20,983 0
Prepaid expenses and other current assets 1,621 1,024
Total current assets 66,489 71,871
Property and equipment, net 349,337 379,247
Goodwill 2,246 2,246
Deferred financing costs, net of accumulated amortization 262 389
Other non-current assets 848 1,692
Total assets 419,182 455,445
Current liabilities:    
Accounts payable 3,192 5,975
Accrued liabilities 6,781 6,920
Long-term debt, current portion 4,550 4,493
Other current liabilities 1,460 1,290
Total current liabilities 15,983 18,678
Long-term debt:    
Principal Amount 181,926 192,726
Less: deferred financing costs, net (1,767) (1,980)
Long-term debt less deferred financing costs, net 180,159 190,746
Lines of credit 0 5,000
Deferred tax liability 27,108 31,056
Deferred gain on sale 26,440 27,204
Deferred retirement obligations 4,123 4,198
Obligations under capital leases 0 300
Total liabilities 253,813 277,182
Commitments and Contingencies (Note 17)
Stockholders' equity:    
Preferred stock, no par value, 1,000,000 shares authorized; none issued 0 0
Common stock, $1.00 par value, 15,000,000 shares authorized; 8,416,145 and 8,416,145 shares issued and 8,238,830 and 8,315,535 shares outstanding at September 30, 2017 and 2016, respectively 8,416 8,416
Additional paid in capital 18,694 18,155
Treasury stock, at cost, 177,315 and 100,610 shares held at September 30, 2017 and 2016, respectively (6,502) (4,585)
Retained earnings 140,033 151,504
Total Alico stockholders' equity 160,641 173,490
Noncontrolling interest 4,728 4,773
Total stockholders' equity 165,369 178,263
Total liabilities and stockholders' equity $ 419,182 $ 455,445