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

Description of Business and Basis of Presentation (Tables)

9 Months Ended

Jun. 30, 2020

Revenues disaggregated by significant products and services for the three and nine months ended June 30, 2020 and 2019 are as follows:

(in thousands)
	Three Months Ended June 30,				Nine Months Ended June 30,
	2020		2019		2020		2019
Alico Citrus
Early and Mid-Season	$	—	$	—	$	31,303	$	39,574
Valencias		24,250		54,734		50,060		73,480
Fresh Fruit	478			1,052		2,015		3,629
Other	632			1,033		1,958		1,856
Total	$	25,360	$	56,819	$	85,336	$	118,539

Water Resources and Other Operations
Land and other leasing	$	711	$	706	$	2,053	$	2,098
Other		51		40		253		228
Total	$	762	$	746	$	2,306	$	2,326

Total Revenues	$	26,122	$	57,565	$	87,642	$	120,865

Our operating leases are reported in our Condensed Consolidated Balance Sheets as follows:

(in thousands)

Operating lease components	Classification	June 30, 2020
Right-of-use assets	Other non-current assets	$	290
Current lease liabilities	Other current liabilities	$	168
Non-current lease liabilities	Other liabilities	$	214

Our operating leases cost components are reported in our Condensed Consolidated Statements of Operations as follows:

(in thousands)

		Three Months Ended		Nine Months Ended
Operating lease components	Classification	June 30, 2020		June 30, 2020
Operating lease costs	General and administrative expenses	$	42	$	146
Operating lease right-of-use asset impairment	Other expense	$	—	$	87

The weighted-average remaining lease term and weighted-average discount rate for our operating leases are as follows:

	June 30, 2020
Weighted-average remaining lease term	2.33 years
Weighted-average discount rate		3.89	%

(in thousands)	Nine Months Ended
	June 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	142

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	511

Future maturities of our operating lease obligations as of June 30, 2020 by fiscal year are as follows:

(in thousands)
2020	$	41
2021	169
2022	175
2023	15
Total noncancelable future lease obligations	$	400
Less: Interest		(18	)
Present value of lease obligations	$	382