Annual report pursuant to Section 13 and 15(d)

Assets Held For Sale

v3.8.0.1
Assets Held For Sale
12 Months Ended
Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Assets Held For Sale
Assets Held For Sale

During fiscal 2017, 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, 2017:

(in thousands)
 
 
 
Description
Carrying Value

Office Building
$
3,214

Nursery - Gainsville
6,500

Chancey Bay
4,179

Gal Hog
70

Breeding Herd
5,858

Trailers
1,162

     Total Assets Held For Sale
$
20,983



Negotiations with interested parties for some of these assets have already taken place and during October 2017 the Company has sold its corporate office building in Ft. Myers (see Note 19. “Subsequent Event”). The only classes of assets and liabilities comprising the balance of the assets held for sale relate to Property & Equipment.

No assets were held for sale as of September 30, 2016.

The Company recorded an impairment loss of approximately $4,131,000 during fiscal year 2017 on these assets classified as assets held for sale as of September 30, 2017. For the year ended September 30, 2015, the Company recorded an impairment of approximately $541,000 on property classified as assets held for sale. These impairments are included in operating expenses on the Consolidated Statements of Operations.