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, 2018

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 two operating segments: Alico Citrus and Water 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,
	2018			2017			2016
Revenues:
Alico Citrus	$	78,121		$	123,441		$	137,282
Water Resources and Other Operations	3,160			6,388			6,914
Total revenues	81,281			129,829			144,196

Operating expenses:
Alico Citrus	51,709			111,947			102,347
Water Resources and Other Operations	3,979			8,952			6,790
Total operating expenses	55,688			120,899			109,137

Gross profit (loss):
Alico Citrus	26,412			11,494			34,935
Water Resources and Other Operations	(819		)	(2,564		)	124
Total gross profit (loss)	$	25,593		$	8,930		$	35,059

Capital expenditures:
Alico Citrus	$	15,968		$	11,738		$	10,393
Water Resources and Other Operations	304			646			2,293
Other Capital Expenditures	80			969			1,619
Total capital expenditures	$	16,352		$	13,353		$	14,305

Depreciation, depletion and amortization:
Alico Citrus	$	13,467		$	14,054		$	13,982
Water Resources and Other Operations	219			652			932
Other Depreciation, Depletion and Amortization	70			520			468
Total depreciation, depletion and amortization	$	13,756		$	15,226		$	15,382



(in thousands)	September 30,
	2018		2017
Assets:
Alico Citrus	$	405,752	$	387,972
Water Resources and Other Operations	15,904		24,819
Other Corporate Assets	1,766		6,391
Total Assets	$	423,422	$	419,182