Alico, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Assets Held for Sale

Assets Held for Sale

9 Months Ended

Jun. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Note 4. Assets Held for Sale

In accordance with its strategy to dispose of non-core and under-performing assets, the following assets have been classified as assets held for sale at June 30, 2025 and September 30, 2024:


(in thousands)	Carrying Value
	June 30, 2025		September 30, 2024
Ranch	$	—	$	69
Alico Citrus	6,659		3,037
Total assets held for sale	$	6,659	$	3,106

On March 7, 2025, the Company entered into an agreement to sell 2,930 acres of citrus land for $26,663 ($9,100 per acre).

As of June 30, 2025, as a result of the Strategic Transformation, the Company had vehicles and equipment with a net book value of $658 as Held for Sale and recognized an accrued loss of $297.

During the nine months ended June 30, 2025, the Company sold approximately 2,794 acres of land for $23,502.

During the nine months ended June 30, 2024, the Company consummated the sale of approximately 18,354 acres of land for $86,217 and recognized a gain of $81,246, including 17,229 acres of the Alico Ranch to the State of Florida for $77,631 in gross proceeds. A portion of the proceeds from these sales was used to repay the outstanding balance on the Company’s working capital line of credit (“WCLC”) with Rabo Agrifinance, Inc. (“Rabo”), the $19,094 Met Life Variable-Rate Term Loans, plus accrued interest and for general corporate purposes.