Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Net cash provided by operating activities:    
Net income $ 21,173 $ 12,300
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred gain on sale of sugarcane land 0 (767)
Depreciation, depletion and amortization 10,441 10,327
Deferred income tax provision 454 649
Gain on sale of real estate, property and equipment and assets held for sale (137) (8,315)
Change in fair value of derivatives 989 0
Impairment of long-lived assets 244 1,855
Non-cash interest expense on deferred gain on sugarcane land 0 1,021
Stock-based compensation expense 537 1,337
Other (160) (285)
Changes in operating assets and liabilities:    
Accounts receivable (3,741) (4,510)
Inventories 10,327 6,478
Prepaid expenses and other assets (480) (892)
Accounts payable and accrued liabilities (2,587) (594)
Income tax payable 4,250 0
Other liabilities 376 (2,485)
Net cash provided by operating activities 41,686 16,119
Cash flows from investing activities:    
Purchases of property and equipment (14,567) (12,129)
Net proceeds from sale of property and equipment and assets held for sale 419 31,671
Change in deposits on purchase of citrus trees (256) 0
Notes receivables 56 (379)
Net cash (used in) provided by investing activities (14,348) 19,163
Cash flows from financing activities:    
Repayments on revolving lines of credit (86,123) (21,424)
Borrowings on revolving lines of credit 83,438 21,424
Principal payments on term loans (8,169) (9,421)
Treasury stock purchases (25,576) (2,215)
Payment on termination of Global Ag agreement (11,300) 0
Dividends paid (1,343) (1,480)
Capital contribution received from noncontrolling interest 0 1,000
Capital lease obligation payments 0 (8)
Net cash used in financing activities (49,073) (12,124)
Net (decrease) increase in cash and cash equivalents and restricted cash (21,735) 23,158
Cash and cash equivalents and restricted cash at beginning of the period 32,260 3,395
Cash and cash equivalents and restricted cash at end of the period $ 10,525 $ 26,553