Alico, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segment Information

Segment Information

3 Months Ended

Dec. 31, 2019

Segments

Operating segments are defined in the criteria established under the FASB ASC Topic 280 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 is evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to assess performance and allocate resources. The Company’s CODM assesses performance and allocates resources based on two operating segments: Alico Citrus and Water Resources and Other Operations.

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.

Information by operating segment is as follows:



(in thousands)	Three Months Ended December 31,
	2019		2018
Revenues:
Alico Citrus	$	10,175	$	13,897
Water Resources and Other Operations	830		882
Total revenues	11,005		14,779

Operating expenses:
Alico Citrus	4,840		10,874
Water Resources and Other Operations	551		723
Total operating expenses	5,391		11,597

Gross profit:
Alico Citrus	5,335		3,023
Water Resources and Other Operations	279		159
Total gross profit	5,614		3,182

Depreciation, depletion and amortization:
Alico Citrus	3,437		3,287
Water Resources and Other Operations	46		50
Other Depreciation, Depletion and Amortization	126		121
Total depreciation, depletion and amortization	$	3,609	$	3,458



(in thousands)	December 31,		September 30,
	2019		2019
Assets:
Alico Citrus	$	388,396	$	401,212
Water Resources and Other Operations	15,267		15,332
Other Corporate Assets	1,406		844
Total Assets	$	405,069	$	417,388