ALICO INC
For the period ended Sep 30, 2024. Filed Dec 2, 2024.
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FY2024 · Filed Dec 2, 2024
Contents
Item 2. Properties
As of September 30, 2024, we owned approximately 53,371 acres of land located in eight counties in Florida. Acreage in each county and the primary classification with respect to the present use of these properties is shown in the following table:
| Total | Hendry | Polk | Collier | DeSoto | Glades | Charlotte | Hardee | Highlands | |
|---|---|---|---|---|---|---|---|---|---|
| Alico Citrus: | |||||||||
| Citrus Groves | 48,229 | 8,497 | 6,746 | 7,057 | 21,593 | — | 2,530 | 583 | 1,223 |
| Citrus Nursery | 22 | — | — | — | 22 | — | — | — | — |
| Total Citrus Groves | 48,251 | 8,497 | 6,746 | 7,057 | 21,615 | — | 2,530 | 583 | 1,223 |
| Land Management and Other Operations | 4,594 | 1,319 | — | 3,275 | — | — | — | — | — |
| Mining | 526 | — | — | — | — | 526 | — | — | — |
| Total | 53,371 | 9,816 | 6,746 | 10,332 | 21,615 | 526 | 2,530 | 583 | 1,223 |
Approximately 36,800 acres of the properties listed are encumbered by credit agreements totaling $220,000, of which there was $92,551 outstanding at September 30, 2024. For a more detailed description of the credit agreements and collateral please see Note 7. Long-Term Debt and Lines of Credit to the Consolidated Financial Statements included in this Annual Report.
Although we have mineral rights on substantially all our owned acres, with additional mineral rights on other leased acres, we currently collect commercial mining royalties on 526 acres within Land Management and Other and agricultural mining royalties on approximately 158 acres within our Citrus operations. We do not collect mining royalties on any non-owned lands. These royalties do not represent a significant portion of operating revenues or gross profits.
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