Property and Equipment, Net

3 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

Property and equipment, net consists of the following at December 31, 2023 and September 30, 2023:

(in thousands)	December 31, 2023		September 30, 2023
Citrus trees	$	330,957	$	328,421
Equipment and other facilities	57,796		57,779
Buildings and improvements	7,081		7,081
Total depreciable properties	395,834		393,281
Less: accumulated depreciation and depletion	(147,204)		(144,150)
Net depreciable properties	248,630		249,131
Land and land improvements	112,973		112,718
Property and equipment, net	$	361,603	$	361,849

For the three months ended December 31, 2023 and December 31, 2022, the Company recognized a loss on the disposal of property and equipment of $225 and $1,915, respectively, due to tree clippings.