Alico, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2016

The following table presents accounts receivable, net for fiscal years ended September 30, 2016 and 2015:



(in thousands)	September 30,
	2016			2015
Accounts receivable	$	4,753		$	3,145
Allowance for doubtful accounts	(13		)	(8		)
Accounts receivable, net	$	4,740		$	3,137

Schedule of Revenues and Accounts Receivable From Major Customers

Concentrations

Revenues and accounts receivable from the Company’s major customers as of September 30, 2016 and 2015 and for the fiscal years ended September 30, 2016, 2015 and 2014, are as follows:



(in thousands)	Accounts Receivable				Revenue						% of Total Revenue
	2016		2015		2016		2015		2014		2016		2015		2014
USSC	$	—	$	—	$	—	$	—	$	19,633	—	%	—	%	18.9	%
Florida Orange Marketers, Inc.	$	—	$	—	$	—	$	—	$	23,826	—	%	—	%	22.9	%
Citrosuco North America, Inc.	$	—	$	—	$	1,296	$	3,870	$	804	0.9	%	2.5	%	0.8	%
Louis Dreyfus	$	—	$	—	$	—	$	22,460	$	24,135	—	%	14.7	%	23.2	%
Cutrale Citrus Juice	$	—	$	—	$	22,735	$	23,556	$	3,984	15.8	%	15.4	%	3.8	%
Minute Maid	$	—	$	—	$	49,271	$	57,484	$	—	34.2	%	37.5	%	—	%
Tropicana	$	1,710	$	1,019	$	46,898	$	21,925	$	16,433	32.5	%	14.3	%	15.8	%

Schedule of Estimated Useful Lives For Property and Equipment

The estimated useful lives for property and equipment are primarily as follows:



Citrus trees	25 years
Equipment and other facilities	3-20 years
Buildings and improvements	25-39 years
Breeding herd	5-7 years

Schedule of Reconciliation of Basic to Diluted Weighted Average Shares Outstanding

The following table presents a reconciliation of basic to diluted weighted average common shares outstanding for fiscal years ended September 30, 2016, 2015 and 2014:



(in thousands)	Fiscal Year Ended September 30,
	2016	2015	2014
Weighted Average Common Shares Outstanding - Basic	8,303	8,056	7,336
Unvested Restricted Stock Awards	8	5	18
Weighted Average Common Shares Outstanding - Diluted	8,311	8,061	7,354

Schedule of Stock-based Compensation Expense

Total stock-based compensation expense for the three years ended September 30, 2016 in general and administrative expense was as follows:



(in thousands)	Fiscal Year Ended September 30,
	2016		2015		2014
Stock compensation expense:
Executives	$	150	$	55	$	195
Board of Directors	774		762		1,061
Members	—		135		579
Total stock compensation expense	$	924	$	952	$	1,835

- Definition

Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

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