Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.2
Segment Information
 9 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Information

Note 10. Segment Information

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 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

June 30,

 

 

Nine Months Ended

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alico Citrus

 

$

25,360

 

 

$

56,819

 

 

$

85,336

 

 

$

118,539

 

Water Resources and Other Operations

 

 

762

 

 

 

746

 

 

 

2,306

 

 

 

2,326

 

Total revenues

 

 

26,122

 

 

 

57,565

 

 

 

87,642

 

 

 

120,865

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alico Citrus

 

 

19,508

 

 

 

31,141

 

 

 

67,866

 

 

 

73,597

 

Water Resources and Other Operations

 

394

 

 

 

420

 

 

 

1,325

 

 

 

1,768

 

Total operating expenses

 

 

19,902

 

 

 

31,561

 

 

 

69,191

 

 

 

75,365

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alico Citrus

 

 

5,852

 

 

 

25,678

 

 

 

17,470

 

 

 

44,942

 

Water Resources and Other Operations

 

 

368

 

 

 

326

 

 

 

981

 

 

 

558

 

Total gross profit

 

 

6,220

 

 

 

26,004

 

 

 

18,451

 

 

 

45,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation, depletion and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alico Citrus

 

 

3,468

 

 

 

3,278

 

 

 

10,321

 

 

 

9,899

 

Water Resources and Other Operations

 

 

51

 

 

 

45

 

 

 

143

 

 

 

132

 

Other Depreciation, Depletion and Amortization

 

 

129

 

 

 

167

 

 

 

383

 

 

 

410

 

Total depreciation, depletion, and amortization

 

$

3,648

 

 

$

3,490

 

 

$

10,847

 

 

$

10,441

 

 

(in thousands)

 

June 30,

 

 

September 30,

 

 

 

2020

 

 

2019

 

Assets:

 

 

 

 

 

 

 

 

Alico Citrus

 

$

452,219

 

 

$

401,212

 

Water Resources and Other Operations

 

 

16,429

 

 

 

15,332

 

Other Corporate Assets

 

 

1,284

 

 

 

844

 

Total Assets

 

$

469,932

 

 

$

417,388