Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.22.2.2
Segment Information
 12 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Information

Note 13. 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 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 Land Management and Other Operations.

Total revenues represent sales to unaffiliated customers, as reported in the 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)

 

Fiscal Year Ended September 30,

 

 

 

2022

 

 

2021

 

 

2020

 

Revenues:

 

 

 

 

 

 

 

 

 

Alico Citrus

 

$

89,681

 

 

$

105,796

 

 

$

89,369

 

Land Management and Other Operations

 

 

2,266

 

 

 

2,768

 

 

 

3,138

 

Total revenues

 

 

91,947

 

 

 

108,564

 

 

 

92,507

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Alico Citrus

 

 

106,192

 

 

 

83,893

 

 

 

72,281

 

Land Management and Other Operations

 

 

520

 

 

 

778

 

 

 

2,307

 

Total operating expenses

 

 

106,712

 

 

 

84,671

 

 

 

74,588

 

 

 

 

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

 

 

 

Alico Citrus

 

 

(16,511

)

 

 

21,903

 

 

 

17,088

 

Land Management and Other Operations

 

 

1,746

 

 

 

1,990

 

 

 

831

 

Total gross profit

 

 

(14,765

)

 

 

23,893

 

 

 

17,919

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

Alico Citrus

 

 

20,867

 

 

 

41,785

 

 

 

21,705

 

Total capital expenditures

 

 

20,867

 

 

 

41,785

 

 

 

21,705

 

 

 

 

 

 

 

 

 

 

 

Depreciation, depletion and amortization:

 

 

 

 

 

 

 

 

 

Alico Citrus

 

 

14,697

 

 

 

14,523

 

 

 

13,584

 

Land Management and Other Operations

 

 

98

 

 

 

147

 

 

 

185

 

Other Depreciation, Depletion and Amortization

 

 

434

 

 

 

452

 

 

 

513

 

Total depreciation, depletion and amortization

 

$

15,229

 

 

$

15,122

 

 

$

14,282

 

 

(in thousands)

 

September 30,

 

 

 

2022

 

 

2021

 

Assets:

 

 

 

 

 

 

Alico Citrus

 

$

396,266

 

 

$

418,633

 

Land Management and Other Operations

 

 

11,326

 

 

 

13,230

 

Other Corporate Assets

 

 

1,663

 

 

 

1,354

 

Total Assets

 

$

409,255

 

 

$

433,217