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, 2018

The following table presents accounts receivable, net as of September 30, 2018 and 2017:



(in thousands)	September 30,
	2018			2017
Accounts receivable	$	2,577		$	4,314
Allowance for doubtful accounts	(33		)	(28		)
Accounts receivable, net	$	2,544		$	4,286

Schedule of Revenues and Accounts Receivable From Major Customers

Accounts receivable from the Company’s major customers as of September 30, 2018 and 2017 and revenue from such customers for the fiscal years ended September 30, 2018, 2017 and 2016, are as follows:



(in thousands)	Accounts Receivable				Revenue						% of Total Revenue
	2018		2017		2018		2017		2016		2018		2017		2016
Tropicana	$	1,797	$	2,506	$	70,396	$	111,197	$	46,898	86.6	%	85.6	%	32.5	%
Cutrale Citrus Juice	$	—	$	—	$	—	$	1,364	$	22,735	—	%	1.1	%	15.8	%
Minute Maid	$	—	$	—	$	—	$	—	$	49,271	—	%	—	%	34.2	%

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

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, 2018, 2017 and 2016:



(in thousands)	Fiscal Year Ended September 30,
	2018	2017	2016
Weighted Average Common Shares Outstanding - Basic	8,232	8,300	8,303
Effect of dilutive securities - stock options and unrestricted stock	69	—	8
Weighted Average Common Shares Outstanding - Diluted	8,301	8,300	8,311

Schedule of Stock-based Compensation Expense

Total stock-based compensation expense for the three years ended September 30, 2018 in general and administrative expense was as follows:



(in thousands)	Fiscal Year Ended September 30,
	2018		2017		2016
Stock compensation expense:
Executives	$	1,754	$	880	$	150
Board of Directors	859		773		774
Total stock compensation expense	$	2,613	$	1,653	$	924

- 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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