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

Annual report pursuant to Section 13 and 15(d)

Segment Information

Segment Information

12 Months Ended

Sep. 30, 2017

Segments

Operating segments are defined in the criteria established under the Financial Accounting Standards Board - Accounting Standards Codification (“FASB ASC”) Topic 280 as components of public entities that engage in business activities from which they may earn revenues and incur expenses for which separate financial information is available and which is evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to assess performance and allocate resources. The Company’s CODM assesses performance and allocates resources based on three operating segments: Alico Citrus (formerly Orange Co.), Conservation and Environmental Resources and Other Operations.

Total revenues represent sales to unaffiliated customers, as reported in the Consolidated Statements of Operations. Goods and services produced by these segments are sold to wholesalers and processors in the United States who prepare the products for consumption. The Company evaluates the segments’ performance based on direct margins (gross profit) from operations before general and administrative expenses, interest expense, other income (expense) and income taxes, not including nonrecurring gains and losses.

Information by operating segment is as follows:



(in thousands)	Fiscal Year Ended September 30,
	2017			2016			2015
Revenues:
Alico Citrus	$	123,441		$	137,282		$	146,147
Conservation and Environmental Resources	4,793			5,669			5,394
Other Operations	1,595			1,245			1,585
Total revenues	129,829			144,196			153,126

Operating expenses:
Alico Citrus	111,947			102,347			110,777
Conservation and Environmental Resources	8,814			6,393			4,808
Other Operations	138			397			2,083
Total operating expenses	120,899			109,137			117,668

Gross profit (loss):
Alico Citrus	11,494			34,935			35,370
Conservation and Environmental Resources	(4,021		)	(724		)	586
Other Operations	1,457			848			(498		)
Total gross profit (loss)	$	8,930		$	35,059		$	35,458

Capital expenditures:
Alico Citrus	$	11,738		$	10,393		$	9,403
Conservation and Environmental Resources	646			1,664			1,461
Other Operations	—			629			162
Other Capital Expenditures	969			1,619			497
Total capital expenditures	$	13,353		$	14,305		$	11,523

Depreciation, depletion and amortization:
Alico Citrus	$	14,054		$	13,982		$	12,297
Conservation and Environmental Resources	585			456			1,275
Other Operations	67			476			471
Other Depreciation, Depletion and Amortization	520			468			689
Total depreciation, depletion and amortization	$	15,226		$	15,382		$	14,732



(in thousands)	September 30,
	2017		2016
Assets:
Alico Citrus	$	387,972	$	410,663
Conservation and Environmental Resources	13,845		13,073
Other Operations	10,974		22,050
Other Corporate Assets	6,391		9,659
Total Assets	$	419,182	$	455,445