v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Net cash provided by (used in) operating activities:    
Net income $ 4,957 $ 3,208
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Deferred gain on sale of sugarcane land 0 (282)
Depreciation, depletion and amortization 6,951 6,922
Deferred income tax provision (benefit) 73 (4,306)
Gain on sale of real estate, property and equipment and assets held for sale (23) (1,835)
Change in fair value of derivatives 989 0
Non-cash interest expense on deferred gain on sugarcane land 0 688
Stock-based compensation expense 223 856
Other (51) (300)
Changes in operating assets and liabilities:    
Accounts receivable (11,453) (12,229)
Inventories 4,922 9,194
Prepaid expenses and other assets 92 (620)
Accounts payable and accrued expenses 370 (533)
Income tax payable (852) 0
Other liabilities (130) (1,014)
Net cash provided by (used in) operating activities 6,068 (251)
Cash flows from investing activities:    
Purchases of property and equipment (9,524) (7,438)
Net proceeds from sale of property and equipment and assets held for sale 202 24,612
Deposits on purchase of citrus trees (515) 0
Notes receivable 50 (379)
Net cash (used in) provided by investing activities (9,787) 16,795
Cash flows from financing activities:    
Repayments on revolving lines of credit (41,360) (21,424)
Borrowings on revolving lines of credit 63,637 21,424
Principal payments on term loans (5,437) (6,715)
Treasury stock purchases (25,576) (206)
Payment on termination of Global Ag agreement (11,300) 0
Dividends paid (895) (988)
Capital lease obligation payments 0 (8)
Net cash used in financing activities (20,931) (7,917)
Net (decrease) increase in cash and cash equivalents and restricted cash (24,650) 8,627
Cash and cash equivalents and restricted cash at beginning of the period 32,260 3,395
Cash and cash equivalents and restricted cash at end of the period $ 7,610 $ 12,022

Source