Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.24.3
Segment Information
 12 Months Ended
Sep. 30, 2024
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 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 reportable 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 reportable segment is as follows:
(in thousands) Years Ended September 30,
2024 2023
Revenues:
Alico Citrus $ 45,059  $ 38,145 
Land Management and Other Operations 1,584  1,701 
Total operating revenues $ 46,643  $ 39,846 
Operating expenses:
Alico Citrus $ 102,628  $ 32,959 
Land Management and Other Operations 398  441 
Total operating expenses $ 103,026  $ 33,400 
Gross profit (loss)
Alico Citrus $ (57,569) $ 5,186 
Land Management and Other Operations 1,186  1,260 
Total (loss) profit $ (56,383) $ 6,446 
General and administrative expenses 11,071  10,643 
Total other income, net 78,406  6,656 
Income before income taxes $ 10,952  $ 2,459 
Capital expenditures:
Alico Citrus $ 17,871  $ 16,733 
Total capital expenditures $ 17,871  $ 16,733 
Depreciation, depletion and amortization:
Alico Citrus $ 14,742  $ 14,999 
Land Management and Other Operations 58  67 
Other Corporate Assets 210  421 
Total depreciation, depletion and amortization $ 15,010  $ 15,487 
Assets:
Alico Citrus $ 383,777  $ 415,030 
Land Management and Other Operations 13,134  11,722 
Other Corporate Assets 1,808  1,601 
Total Assets $ 398,719  $ 428,353