Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.4
Segment Information
 3 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information

Note 9. 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 Land Management 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,

 

 

 

2020

 

 

2019

 

Revenues:

 

 

 

 

 

 

 

 

Alico Citrus

 

$

12,926

 

 

$

10,175

 

Land Management and Other Operations

 

 

806

 

 

 

830

 

Total revenues

 

 

13,732

 

 

 

11,005

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

Alico Citrus

 

 

8,147

 

 

 

4,840

 

Land Management and Other Operations

 

 

188

 

 

 

551

 

Total operating expenses

 

 

8,335

 

 

 

5,391

 

 

 

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

 

 

Alico Citrus

 

 

4,779

 

 

 

5,335

 

Land Management and Other Operations

 

 

618

 

 

 

279

 

Total gross profit

 

$

5,397

 

 

$

5,614

 

 

 

 

 

 

 

 

 

 

Depreciation, depletion and amortization:

 

 

 

 

 

 

 

 

Alico Citrus

 

$

3,689

 

 

$

3,437

 

Land Management and Other Operations

 

 

38

 

 

 

46

 

Other Depreciation, Depletion and Amortization

 

 

124

 

 

 

126

 

Total depreciation, depletion, and amortization

 

$

3,851

 

 

$

3,609

 

 

(in thousands)

 

December 31,

 

 

September 30,

 

 

 

2020

 

 

2020

 

Assets:

 

 

 

 

 

 

 

 

Alico Citrus

 

$

413,751

 

 

$

406,763

 

Land Management and Other Operations

 

 

14,745

 

 

 

15,367

 

Other Corporate Assets

 

 

1,686

 

 

 

1,807

 

Total Assets

 

$

430,182

 

 

$

423,937