Assets Held for Sale |
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| Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets Held for Sale |
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 as of September 30, 2025 and September 30, 2024:
As of September 30, 2025, the Company had agreements to sell 3,526 acres of land, for $34,452 ($9,771 per acre).
During the year ended September 30, 2025, the Company completed the sale of substantially all of the equipment and vehicles that it had designated as Held for Sale, as a result of the Strategic Transformation for approximately $5,290 and recognized a gain of $1,618.
During the year ended September 30, 2025, the Company sold approximately 2,796 acres of land for approximately $23,807 and recognized a gain of $20,319.
During the year ended September 30, 2024, the Company sold approximately 18,354 acres of ranch land for $86,217 and recognized a gain of $81,416 (including 17,229 acres of the Alico Ranch to the State of Florida for approximately $77,631 in gross proceeds). During the years ended September 30, 2025 and 2024, the Company used the proceeds from these various asset sales for general corporate purposes and to pay down debt (see Note 8. Long-Term Debt and Lines of Credit for further information).
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- References No definition available.
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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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