Annual report pursuant to section 13 and 15(d)

Basis of Presentation and Significant Accounting Policies (Tables)

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Basis of Presentation and Significant Accounting Policies (Tables)
 12 Months Ended
Sep. 30, 2013
Basis of Presentation and Significant Accounting Policies [Abstract]  
Schedule of Major Customer Data

Revenues and receivables from the Company's major customers are as follows for the years ended September 30, 2013, 2012 and 2011:

 

(in thousands)   Accounts Receivable   Revenue   % of Total Revenue
    2013   2012   2013   2012   2011   2013   2012   2011
                                 
 USSC   $ 3,004     $ 1,970     $ 21,056     $ 14,442     $ 7,796       20.7 %     11.4 %     7.9 %
 Southern Gardens   $ -     $ -     $ -     $ -     $ 19,950       0.0 %     0.0 %     20.2 %
 Florida Orange Marketers, Inc.   $ -     $ -     $ 15,689     $ 22,219     $ 17,743       15.4 %     17.5 %     18.0 %
 Citrosuco North America, Inc.   $ -     $ -     $ 11,092     $ 18,895     $ 17,416       10.9 %     14.9 %     17.7 %
 Louis Dreyfus   $ -     $ -     $ 26,246     $ 29,344     $ 12,069       25.8 %     23.1 %     12.2 %
 Cutrale Citrus Juice   $ -     $ -     $ 6,300     $ 13,156     $ 3,507       6.2 %     10.3 %     3.6 %
Schedule of Estimated Useful Life

The estimated useful life for property, buildings and equipment is as follows:

 

Breeding herd    6-7 years
Buildings    10-40 years
Citrus trees    25 years
Sugarcane plantings    3 years
Equipment and other facilities    3-20 years
Schedule of Weighted Average Shares Outstanding

The following table presents a reconciliation of basic to dilute weighted average shares outstanding for fiscal years ended September 30, 2013, 2012 and 2011:

 

(in thousands) Fiscal Year Ended September 30,
  2013   2012   2011
           
Weighted Average Shares Outstanding - Basic   7,313       7,355       7,363  
Unvested Restricted Stock Awards   44       -       -  
                       
Weighted Average Shares Outstanding - Diluted   7,357       7,355       7,363  
Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense recognized on the Consolidated Statements of Operations for the three years ended September 30, 2013 in other operations and general and administrative expense was as follows:

 

(in thousands) Fiscal Year Ended September 30,
  2013   2012   2011
           
Stock compensation expense:                      
Executives $ 81     $ (27 )   $ (19 )
Board of Directors   842       485       434  
                       
Total stock compensation expense $ 923     $ 458     $ 415  
Schedule of Recent Accounting Pronouncements
Title    Prescribed Effective Date    Alico's Status    Commentary
Update No. 2013-11-Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force)   1/1/2013
(Q2 2014) 		  Unadopted   The Company does not believe that adoption of the standard will have a material impact on its results of operations or financial position upon adoption.
              
Update 2013-02-Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income   1/1/2013
(Q2 2014) 		  Unadopted   The Company does not believe that adoption of the standard will have a material impact on its results of operations or financial position upon adoption.
              
Update 2013-01-Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities   10/1/2014
(Q1 2015) 		  Unadopted   The Company does not believe that adoption of the standard will have a material impact on its results of operations or financial position upon adoption.