Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.23.3
Segment Information
 12 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
Segments
Operating segments are defined in the criteria established under the 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 Land Management 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) Years Ended September 30,
2023 2022 2021
Revenues:
Alico Citrus $ 38,145  $ 89,681  $ 105,796 
Land Management and Other Operations 1,701  2,266  2,768 
Total revenues 39,846  91,947  108,564 
Operating expenses:
Alico Citrus 32,959  106,192  83,893 
Land Management and Other Operations 441  520  778 
Total operating expenses 33,400  106,712  84,671 
Gross profit (loss):
Alico Citrus 5,186  (16,511) 21,903 
Land Management and Other Operations 1,260  1,746  1,990 
Total gross profit (loss) $ 6,446  $ (14,765) $ 23,893 
Capital expenditures:
Alico Citrus $ 16,733  $ 20,867  $ 41,785 
Total capital expenditures $ 16,733  $ 20,867  $ 41,785 
Depreciation, depletion and amortization:
Alico Citrus $ 14,999  $ 14,697  $ 14,523 
Land Management and Other Operations 67  98  147 
Other Depreciation, Depletion and Amortization 421  434  452 
Total depreciation, depletion and amortization $ 15,487  $ 15,229  $ 15,122 
Assets:
Alico Citrus $ 415,030  $ 396,266 
Land Management and Other Operations 11,722  11,326 
Other Corporate Assets 1,601  1,663 
Total Assets $ 428,353  $ 409,255