Segment Information

12 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Information

Note 10. 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 reportable 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 reportable segment is as follows:

(in thousands)	Years Ended September 30,
	2024		2023
Revenues:
Alico Citrus	$	45,059	$	38,145
Land Management and Other Operations	1,584		1,701
Total operating revenues	$	46,643	$	39,846
Operating expenses:
Alico Citrus	$	102,628	$	32,959
Land Management and Other Operations	398		441
Total operating expenses	$	103,026	$	33,400
Gross profit (loss)
Alico Citrus	$	(57,569)	$	5,186
Land Management and Other Operations	1,186		1,260
Total (loss) profit	$	(56,383)	$	6,446
General and administrative expenses	11,071		10,643
Total other income, net	78,406		6,656
Income before income taxes	$	10,952	$	2,459
Capital expenditures:
Alico Citrus	$	17,871	$	16,733
Total capital expenditures	$	17,871	$	16,733
Depreciation, depletion and amortization:
Alico Citrus	$	14,742	$	14,999
Land Management and Other Operations	58		67
Other Corporate Assets	210		421
Total depreciation, depletion and amortization	$	15,010	$	15,487
Assets:
Alico Citrus	$	383,777	$	415,030
Land Management and Other Operations	13,134		11,722
Other Corporate Assets	1,808		1,601
Total Assets	$	398,719	$	428,353