Alico (ALCO) 10-Q 8 May 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 31, 2017	May 05, 2017
Document and Entity Information:
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	ALICO INC
Entity Central Index Key	3,545
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding (in shares)		8,289,610

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Operating revenues:
Total operating revenues	$ 56,200	$ 71,889	$ 73,645	$ 92,493
Operating expenses:
Total operating expenses	41,684	52,374	56,376	71,612
Gross profit	14,516	19,515	17,269	20,881
General and administrative expenses	3,399	2,849	7,187	6,774
Income from operations	11,117	16,666	10,082	14,107
Other (expense) income:
Investment and interest income, net	47	0	47	0
Interest expense	(2,374)	(2,475)	(4,701)	(4,978)
Gain on sale of real estate	1,396	760	1,832	902
Other income (expense), net	19	(125)	(71)	(300)
Total other expense, net	(912)	(1,840)	(2,893)	(4,376)
Income before income taxes	10,205	14,826	7,189	9,731
Provision for income taxes	4,321	6,102	3,048	4,027
Net income attributable to Alico, Inc. common stockholders	5,884	8,724	4,141	5,704
Net (income) loss attributable to noncontrolling interests	(51)	10	(43)	18
Net income attributable to Alico, Inc. common stockholders	$ 5,833	$ 8,734	$ 4,098	$ 5,722
Earnings per common share:
Basic (in dollars per share)	$ 0.70	$ 1.05	$ 0.49	$ 0.69
Diluted (in dollars per share)	$ 0.70	$ 1.05	$ 0.49	$ 0.69
Weighted-average number of common shares outstanding:
Basic (in shares)	8,327	8,286	8,326	8,294
Diluted (in shares)	8,327	8,303	8,326	8,309
Cash dividends declared per common share (in dollars per share)	$ 0.06	$ 0.06	$ 0.12	$ 0.12
Alico Citrus
Operating revenues:
Total operating revenues	$ 55,667	$ 70,982	$ 72,544	$ 90,277
Operating expenses:
Total operating expenses	40,923	51,716	55,008	69,324
Conservation and Environmental Resources
Operating revenues:
Total operating revenues	487	644	788	1,651
Operating expenses:
Total operating expenses	761	581	1,275	2,141
Other Operations
Operating revenues:
Total operating revenues	46	263	313	565
Operating expenses:
Total operating expenses	$ 0	$ 77	$ 93	$ 147

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Current assets:
Cash and cash equivalents	$ 1,041	$ 6,625
Accounts receivable, net	22,648	4,740
Inventories	53,069	58,469
Income tax receivable	1,013	1,013
Assets held for sale	3,137	0
Prepaid expenses and other current assets	2,629	1,024
Total current assets	83,537	71,871
Property and equipment, net	372,512	379,247
Goodwill	2,246	2,246
Deferred financing costs, net of accumulated amortization	264	389
Other non-current assets	1,400	1,692
Total assets	459,959	455,445
Current liabilities:
Accounts payable	5,919	5,975
Accrued liabilities	4,238	6,920
Long-term debt, current portion	4,500	4,493
Obligations under capital leases, current portion	288	288
Other current liabilities	339	1,002
Total current liabilities	15,284	18,678
Long-term debt:
Principal amount	187,338	192,726
Less: deferred financing costs, net	(1,872)	(1,980)
Long-term debt less deferred financing costs, net	185,466	190,746
Lines of credit	11,417	5,000
Deferred tax liability	34,119	31,056
Deferred gain on sale	27,587	27,204
Deferred retirement obligations	4,185	4,198
Obligations under capital leases	300	300
Total liabilities	278,358	277,182
Commitments and Contingencies (Note 8)
Stockholders' equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued	0	0
Common stock, $1.00 par value, 15,000,000 shares authorized; 8,416,145 shares issued and 8,306,319 and 8,315,535 shares outstanding at March 31, 2017 and September 30, 2016, respectively	8,416	8,416
Additional paid in capital	18,351	18,155
Treasury stock, at cost, 109,826 and 100,610 shares held at March 31, 2017 and September 30, 2016, respectively	(4,586)	(4,585)
Retained earnings	154,604	151,504
Total Alico stockholders' equity	176,785	173,490
Noncontrolling interest	4,816	4,773
Total stockholders' equity	181,601	178,263
Total liabilities and stockholders' equity	$ 459,959	$ 455,445

CONDENSED CONSOLIDATED BALANCE4

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (PARENTHETICAL) - $ / shares	Mar. 31, 2017	Sep. 30, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value per share (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value per share (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	15,000,000	15,000,000
Common stock, shares issued (in shares)	8,416,145	8,416,145
Common stock, shares outstanding (in shares)	8,306,319	8,315,535
Treasury stock at cost, shares (in shares)	109,826	100,610

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net cash (used in) provided by operating activities:
Net cash used in by operating activities	$ (2,749)	$ 12,138
Cash flows from investing activities:
Purchases of property and equipment	(5,040)	(5,931)
Proceeds from disposals of property and equipment	2,651	0
Other	156	141
Net cash used in investing activities	(2,233)	(5,790)
Cash flows from financing activities:
Repayments on revolving lines of credit	(47,082)	(45,132)
Borrowings on revolving lines of credit	53,499	50,132
Principal payments on term loans	(5,381)	(5,381)
Contingent consideration paid	0	(3,750)
Treasury stock purchases	(641)	(3,141)
Dividends paid	(997)	(998)
Net cash used in financing activities	(602)	(8,270)
Net decrease in cash and cash equivalents	(5,584)	(1,922)
Cash and cash equivalents at end of the period	$ 1,041	$ 3,552

Basis of Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Description of Business Alico, Inc. (“Alico”), together with its subsidiaries (collectively, the “Company", "we", "us" or "our”), is a Florida agribusiness and land management company owning approximately 122,000 acres of land throughout Florida, including approximately 90,000 acres of mineral rights. The Company manages its land based upon its primary usage, and reviews its performance based upon two primary classifications - Alico Citrus (formerly called "Orange Co.") and Conservation and Environmental Resources . Financial results are presented based upon its three business segments: Alico Citrus , Conservation and Environmental Resources and Other Operations. Basis of Presentation The Company has prepared the accompanying financial statements on a condensed consolidated basis. These accompanying unaudited condensed consolidated interim financial statements, which are referred to herein as the “Financial Statements", have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to Article 10-01 of Regulation S-X of the U.S. Securities and Exchange Commission ("SEC") for interim financial information. These Financial Statements do not include all of the disclosures required for complete annual financial statements and, accordingly, certain information, footnotes and disclosures normally included in annual financial statements, prepared in accordance with U.S. GAAP, have been condensed or omitted in accordance with SEC rules and regulations. Accordingly, the Financial Statements should be read in conjunction with the Company's audited Consolidated and Combined Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2016 , as filed with the SEC on December 6, 2016 . The Financial Statements presented in this Form 10-Q are unaudited. However, in the opinion of management, such Financial Statements include all adjustments, consisting solely of normal recurring adjustments necessary to present fairly the financial position, results of operations and cash flows for the periods presented in conformity with U.S. GAAP applicable to interim periods. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the current fiscal year ending September 30, 2017 . All intercompany transactions and account balances between the consolidated businesses have been eliminated. Segments Operating segments are defined in the criteria established under the Financial Accounting Standards Board - Accounting Standards Codification (“FASB ASC”) Topic 280, "Segment Reporting", 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 three operating segments: Alico Citrus , Conservation and Environmental Resources and Other Operations. Principles of Consolidation The Financial Statements include the accounts of Alico, Inc. and the accounts of all the subsidiaries in which a controlling interest is held by the Company. The Financial Statements represent the Condensed Consolidated Balance Sheets, Statements of Operations and Statements of Cash Flows of Alico, Inc. and its subsidiaries. Under U.S. GAAP, consolidation is generally required for investments of more than 50% of the outstanding voting stock of an investee, except when control is not held by the majority owner. The Company’s subsidiaries include: Alico Land Development, Inc., Alico-Agri, Ltd., Alico Plant World, LLC, Alico Fruit Company, LLC, Alico Citrus Nursery, LLC, Alico Chemical Sales, LLC, 734 Citrus Holdings LLC and subsidiaries, Alico Fresh Fruit LLC, Alico Skink Mitigation, LLC and Citree Holdings 1, LLC. The Company considers the criteria established under FASB ASC 810, “Consolidations” in its consolidation process. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities as of the date of the accompanying Financial Statements, the disclosure of contingent assets and liabilities in the Financial Statements and the accompanying Notes, and the reported amounts of revenues and expenses and cash flows during the periods presented. Actual results could differ from those estimates based upon future events. The Company evaluates estimates on an ongoing basis. The estimates are based on current and expected economic conditions, historical experience, the experience and judgment of the Company’s management and various other specific assumptions that the Company believes to be reasonable. The Company evaluates its assumptions and estimates on an ongoing basis and may employ outside experts to assist in the Company’s evaluations. Noncontrolling Interest in Consolidated Affiliate The Financial Statements include all assets and liabilities of the less-than- 100% -owned affiliate the Company controls, Citree Holdings I, LLC (“Citree”). Accordingly, the Company has recorded a noncontrolling interest in the equity of such entity. Citree had a net income of approximately $88,000 and a net loss of $37,000 for the six months ended March 31, 2017 and 2016 , respectively, of which 51% is attributable to the Company. Business Combinations The Company accounts for its business acquisitions under the acquisition method of accounting as indicated in FASB ASC 805, “Business Combinations”, which requires the acquiring entity in a business combination to recognize the fair value of all assets acquired, liabilities assumed and any noncontrolling interest in the acquiree and establishes the acquisition date as the fair value measurement date. Accordingly, the Company recognizes assets acquired and liabilities assumed in business combinations, including contingent assets and liabilities and noncontrolling interest in the acquiree, based on fair value estimates as of the date of acquisition. In accordance with FASB ASC 805, the Company recognizes and measures goodwill, if any, as of the acquisition date, as the excess of the fair value of the consideration paid over the fair value of the identified net assets acquired. When the Company acquires a business from an entity under common control, whereby the companies are ultimately controlled by the same party, or parties, both before and after the transaction, it is treated similarly to the pooling of interest method of accounting. The assets and liabilities are recorded at the transferring entity’s historical cost instead of reflecting the fair market value of assets and liabilities. Recent Accounting Pronouncements Clarifying the Definition of a Business In January 2017, the FASB issued ASU 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business" that provides guidance to assist entities with evaluating when a set of transferred assets and activities (set) is a business. Under the new guidance, an entity first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the set is not a business. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years. The ASU will be applied prospectively to any transactions occurring within the period of adoption. Early adoption is permitted. Derecognition and Partial Sales of Nonfinancial Assets Guidance Issued In February 2017, the FASB issued ASU 2017-05, “Other Income - Gains and Losses From the Derecognition of Nonfinancial Assets (Subtopic 610-20): The ASU clarifies that ASC 610-20 applies to the derecognition of nonfinancial assets and in substance nonfinancial assets unless other specific guidance applies. As a result, it will not apply to the derecognition of businesses, nonprofit activities, or financial assets (including equity method investments), or to contracts with customers. The ASU also clarifies that an in substance nonfinancial asset is an asset or group of assets for which substantially all of the fair value consists of nonfinancial assets and the group or subsidiary is not a business. In addition, transfers of nonfinancial assets to another entity in exchange for a noncontrolling ownership interest in that entity will be accounted for under ASC 610-20, removing specific guidance on such partial exchanges from ASC 845, Nonmonetary Transactions . As a result, guidance specific to real estate sales in ASC 360-20 will be eliminated. As such, sales and partial sales of real estate assets will now be subject to the same derecognition model as all other nonfinancial assets. The ASU will also impact the accounting for partial sales of nonfinancial assets (including in substance real estate). When an entity transfers its controlling interest in a nonfinancial asset, but retains a noncontrolling ownership interest, the entity will measure the retained interest at fair value. This will result in full gain/loss recognition upon the sale of a controlling interest in a nonfinancial asset. Current guidance generally prohibits gain recognition on the retained interest. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years and early adoption is permitted. The ASU will be applied prospectively to any transaction occurring from the date of adoption. Reclassifications Certain prior year amounts have been reclassified in the accompanying Financial Statements for consistent presentation to the current period. These reclassifications had no impact on net income, equity or cash flows as previously reported; however, working capital decreased by approximately $1,184,000 at September 30, 2016 . Seasonality The Company is primarily engaged in the production of fruit for sale to citrus markets, which is of a seasonal nature, and subject to the influence of natural phenomena and wide price fluctuations. Historically, the second and third quarters of our fiscal year generally produce the majority of our annual revenue, and working capital requirements are typically greater in the first and fourth quarters of the fiscal year. The results of the reported periods herein are not necessarily indicative of the results for any other interim periods or the entire fiscal year.

Inventories

Inventories	6 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following at March 31, 2017 and September 30, 2016 : (in thousands) March 31, 2017 September 30, 2016 Unharvested fruit crop on the trees $ 43,179 $ 52,204 Beef cattle 3,550 783 Citrus tree nursery 4,068 3,090 Other 2,272 2,392 Total inventories $ 53,069 $ 58,469 The Company records its inventory at the lower of cost or net realizable value. For the three and six months ended March 31, 2017 and 2016 the Company did not record any adjustments to reduce inventory to net realizable value.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consists of the following at March 31, 2017 and September 30, 2016 : (in thousands) March 31, 2017 September 30, 2016 Citrus trees $ 255,948 $ 253,665 Equipment and other facilities 60,514 59,355 Buildings and improvements 16,035 21,780 Breeding herd 10,789 10,921 Total depreciable properties 343,286 345,721 Less: accumulated depreciation and depletion (86,303 ) (83,122 ) Net depreciable properties 256,983 262,599 Land and land improvements 115,529 116,648 Net property and equipment $ 372,512 $ 379,247 On February 2, 2017, the Company sold 49 acres of land and facilities in Hendry County, Florida, to its former tenant for $2,200,000 , resulting in a gain of approximately $1,400,000 which is included in gain on sale of real estate on the Condensed Consolidated Statements of Operations for the three and six months ended March 31, 2017 . Asset held for sale In March 2017, the Company's Board of Directors approved listing its office building in Fort Myers, Florida, for sale for approximately $6,000,000 . As a result, the Company reclassified the net book value of the property to assets held for sale as of March 31, 2017 . The estimated fair value of the property exceeds the net book value, and no impairment was recognized as a result of the reclassification.

Long-Term Debt and Lines of Cre

Long-Term Debt and Lines of Credit	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Long-Term Debt and Lines of Credit	Long-Term Debt and Lines of Credit Debt Refinancing The Company refinanced its outstanding debt obligations on December 3, 2014 in connection with the Orange-Co acquisition. These credit facilities initially included $125,000,000 in fixed interest rate term loans (“Met Fixed-Rate Term Loans”), $57,500,000 in variable interest rate term loans (“Met Variable-Rate Term Loans”), and a $25,000,000 revolving line of credit (“RLOC”) with Metropolitan Life Insurance Company and New England Life Insurance Company (collectively “Met”), and a $70,000,000 working capital line of credit (“WCLC”) with Rabo Agrifinance, Inc. (“Rabo”). The term loans and RLOC are secured by real property. The security for the term loans and RLOC consists of approximately 38,200 gross acres of citrus groves and 5,762 gross acres of ranch land. The WCLC is collateralized by the Company’s current assets and certain other personal property owned by the Company. The term loans, collectively, are subject to quarterly principal payments of $2,281,250 , and mature November 1, 2029 . The Met Fixed-Rate Term Loans bear interest at 4.15% per annum, and the Met Variable-Rate Term Loans bear interest at a rate equal to 90 day LIBOR plus 150 basis points (the “LIBOR spread”). The LIBOR spread is subject to adjustment by the lender on May 1, 2017 and every two years thereafter until maturity. Interest on the term loans is payable quarterly. The interest rates on the Met Variable-Rate Term Loans were 2.54% per annum and 2.25% per annum as of March 31, 2017 and September 30, 2016 , respectively. The Company may prepay up to $8,750,000 of the Met Fixed-Rate Term Loan principal annually without penalty, and any such prepayments may be applied to reduce subsequent mandatory principal payments. The maximum annual prepayment was made for calendar year 2015 and remains available to reduce future mandatory principal payments if the Company elects to do so. There have been no additional optional prepayments after calendar year 2015. The Met Variable-Rate Term Loans may be prepaid without penalty. The RLOC bears interest at a floating rate equal to 90 day LIBOR plus 150 basis points, payable quarterly. The LIBOR spread is subject to adjustment by the lender on May 1, 2017 and every two years thereafter. Outstanding principal, if any, is due at maturity on November 1, 2019. The RLOC is subject to an annual commitment fee of 25 basis points on the unused portion of the line of credit. The RLOC is available for funding general corporate needs. The variable interest rate was 2.54% per annum and 2.25% per annum as of March 31, 2017 and September 30, 2016 , respectively. Availability under the RLOC was $25,000,000 as of March 31, 2017 . The WCLC is a revolving credit facility and is available for funding working capital and general corporate requirements. The interest rate on the WCLC is based on the one month LIBOR, plus a spread, which is adjusted quarterly, based on the Company's debt service coverage ratio for the preceding quarter and can vary from 175 to 250 basis points. The rate is currently at LIBOR plus 175 basis points. The variable interest rate was 2.53% per annum and 2.27% per annum as of March 31, 2017 and September 30, 2016 , respectively. The WCLC agreement was amended on September 30, 2016 , and the primary terms of the amendment were (1) an extension of the maturity to November 1, 2018, (2) the amendment permits the Company to provide a limited $8,000,000 guaranty of the Silver Nip Citrus debt (see below) and (3) the amendment makes debt service coverage a quarterly rather than annual covenant. There were no changes to the commitment amount or interest rate. Availability under the WCLC was approximately $48,300,000 as of March 31, 2017 . The WCLC is subject to a quarterly commitment fee on the daily unused availability under the line computed as the commitment amount less the aggregate of the outstanding loans and outstanding letters of credit. The commitment fee is adjusted quarterly based on Alico's debt service coverage ratio for the preceding quarter and can vary from a minimum of 20 basis points to a maximum of 30 basis points. The outstanding balance on the WCLC was approximately $11,417,000 at March 31, 2017 . The WCLC agreement provides for Rabo to issue up to $20,000,000 in letters of credit on the Company’s behalf. As of March 31, 2017 , there was approximately $10,300,000 in outstanding letters of credit, which correspondingly reduced the Company's availability under the line of credit. These credit facilities noted above are subject to various covenants including the following financial covenants: (i) minimum debt service coverage ratio of 1.10 to 1.00, (ii) tangible net worth of at least $160,000,000 increased annually by 10% of consolidated net income for the preceding year, or approximately $162,300,000 for the year ending September 30, 2017, (iii) minimum current ratio of 1.50 to 1.00, (iv) debt to total assets ratio not greater than .625 to 1.00, and, solely in the case of the WCLC, (v) a limit on capital expenditures of $30,000,000 per fiscal year. As of March 31, 2017 , the Company was in compliance with all of the financial covenants. The credit facilities also include a Met Life term loan collateralized by real estate owned by Citree (“Met Citree Loan”). This is a $5,000,000 credit facility that bears interest at a fixed rate of 5.28% per annum. The loan matures February 5, 2029. Silver Nip Citrus Debt Silver Nip Citrus has various loans payable to Prudential Mortgage Capital Company, LLC (“Prudential”) as described below. There are two fixed-rate term loans, with an original combined balance of $27,550,000 , bearing interest at 5.35% per annum (“Pru Loans A & B”). Principal of $290,000 is payable quarterly, together with accrued interest. The Company may prepay up to $5,000,000 of principal without penalty. On February 15, 2015, Silver Nip Citrus made a prepayment of $750,000 . The loans are collateralized by real estate in Collier, Hardee, Highlands, Martin, Osceola and Polk Counties, Florida and mature June 1, 2033. Silver Nip Citrus entered into two fixed-rate term loans with Prudential to finance the acquisition of a 1,500 acre citrus grove on September 4, 2014. Each loan was in the original amount of $5,500,000 . Principal of $55,000 per loan is payable quarterly, together with accrued interest. One loan bears interest at 3.85% per annum (“Pru Loan E”), while the other bears interest at 3.45% per annum (“Pru Loan F”). The interest rate on Pru Loan E is subject to adjustment on September 1, 2019 and every year thereafter until maturity. Both loans are collateralized by real estate in Charlotte County, Florida. Pru Note E matures September 1, 2021, and Pru Note F matures September 1, 2039. The Silver Nip Citrus credit agreements were amended on December 1, 2016. The primary terms of the amendments were (1) the Company provided a limited $8,000,000 guaranty of the Silver Nip debt, (2) the limited personal guarantees provided by George Brokaw, Remy Trafelet and Clayton Wilson prior to the Company’s merger with Silver Nip Citrus, and also totaling $8,000,000 , were released and (3) the consolidated current ratio covenant requirement was reduced from 1.50 to 1.00 to 1:00 to 1:00. Silver Nip Citrus was in compliance with the current ratio covenant as of September 30, 2016 , the most recent measurement date. Other Modifications of Rabo and Prudential Credit Agreements During the six months ended March 31, 2016 , Rabo agreed, subject to certain conditions, that the Company may loan Silver Nip Citrus up to $7,000,000 on a revolving basis for cash management purposes. These advances would be funded from either cash on hand or draws on the Company’s WCLC. Silver Nip Citrus has provided a $7,000,000 limited guaranty and security agreement granting Rabo a security interest in crops, accounts receivable, inventory and certain other assets. This modification required the amendment of various Prudential and Rabo loan documents and mortgages. The following table summarizes long-term debt and related deferred financing costs net of accumulated amortization at March 31, 2017 and September 30, 2016 : March 31, 2017 September 30, 2016 Principal Deferred Financing Costs, Net Principal Deferred Financing Costs, Net (in thousands) Long-term debt, net of current portion: Met Fixed-Rate Term Loans $ 102,188 $ 1,016 $ 105,312 $ 1,080 Met Variable-Rate Term Loans 51,030 467 52,469 497 Met Citree Term Loan 5,000 51 5,000 53 Pru Loans A & B 23,610 266 24,190 274 Pru Loan E 5,005 29 5,115 32 Pru Loan F 5,005 43 5,115 44 John Deere equipment loan — — 18 — 191,838 1,872 197,219 1,980 Less current portion 4,500 — 4,493 — Long-term debt $ 187,338 $ 1,872 $ 192,726 $ 1,980 The following table summarizes lines of credit and related deferred financing costs net of accumulated amortization at March 31, 2017 and September 30, 2016 : March 31, 2017 September 30, 2016 Principal Deferred Financing Costs, Net Principal Deferred Financing Costs, Net (in thousands) Lines of Credit: RLOC $ 11,417 $ 134 $ 5,000 $ 159 WCLC — 130 — 230 Lines of Credit $ 11,417 $ 264 $ 5,000 $ 389 Future maturities of debt and lines of credit as of March 31, 2017 are as follows: (in thousands) Due within one year $ 4,500 Due between one and two years 19,767 Due between two and three years 10,938 Due between three and four years 10,975 Due between four and five years 10,975 Due beyond five years 146,100 Total future maturities $ 203,255 Interest costs expensed and capitalized were as follows: (in thousands) Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Interest expense $ 2,374 $ 2,475 $ 4,701 $ 4,978 Interest capitalized 64 38 127 81 Total $ 2,438 $ 2,513 $ 4,828 $ 5,059

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic earnings per share for Alico's common stock is calculated by dividing net income attributable to Alico, Inc. common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per common share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of common shares issuable under equity-based compensation plans in accordance with the treasury stock method, except where the inclusion of such common shares would have an anti-dilutive impact. For the three and six months ended March 31, 2017 and 2016 , basic and diluted earnings per common share were as follows: (in thousands except per share amounts) Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Net income attributable to Alico, Inc. common stockholders $ 5,833 $ 8,734 $ 4,098 $ 5,722 Weighted average number of common shares outstanding - basic 8,327 8,286 8,326 8,294 Dilutive effect of equity-based awards — 17 — 15 Weighted average number of common shares outstanding - diluted 8,327 8,303 8,326 8,309 Net income per common share attributable to Alico, Inc. common stockholders: Basic $ 0.70 $ 1.05 $ 0.49 $ 0.69 Diluted $ 0.70 $ 1.05 $ 0.49 $ 0.69 The computation of diluted earnings per common share for the three and six months ended March 31, 2017 and 2016 excludes the impact of certain equity awards because they are anti-dilutive. Such awards are comprised of 750,000 stock options granted to Executive Officers (see Note 7. "Stockholders' Equity") during the six months ended March 31, 2017 and 12,500 shares awarded to the Chief Executive Officer and Chief Financial Officer during the fiscal year ended September 30, 2015.

Segment Information

Segment Information	6 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information Segments Operating segments are defined in ASC Topic 280, "Segment Reporting" 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 are evaluated regularly by the Company’s CODM in deciding how to assess performance and allocate resources. The Company’s CODM assesses performance and allocates resources based on three operating segments: Alico Citrus , Conservation and Environmental Resources and Other Operations. The Company manages its land based upon its primary usage, and reviews its performance based upon two primary classifications: Alico Citrus and Conservation and Environmental Resources . In addition, Other Operations include leasing mines and oil extraction rights to third parties, as well as leasing improved farmland to third parties. Total revenues represent sales to unaffiliated customers, as reported in the Condensed 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. All intercompany transactions between the segments have been eliminated. Information by operating segment is as follows: (in thousands) Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Revenues: Alico Citrus $ 55,667 $ 70,982 $ 72,544 $ 90,277 Conservation and Environmental Resources 487 644 788 1,651 Other Operations 46 263 313 565 Total revenues 56,200 71,889 73,645 92,493 Operating expenses: Alico Citrus 40,923 51,716 55,008 69,324 Conservation and Environmental Resources 761 581 1,275 2,141 Other Operations — 77 93 147 Total operating expenses 41,684 52,374 56,376 71,612 Gross profit (loss): Alico Citrus 14,744 19,266 17,536 20,953 Conservation and Environmental Resources (274 ) 63 (487 ) (490 ) Other Operations 46 186 220 418 Total gross profit $ 14,516 $ 19,515 $ 17,269 $ 20,881 Depreciation, depletion and amortization: Alico Citrus $ 3,505 $ 3,391 $ 7,021 $ 6,748 Conservation and Environmental Resources 150 297 319 529 Other Operations 31 94 63 200 Other Depreciation, Depletion and Amortization 194 254 393 567 Total depreciation, depletion and amortization $ 3,880 $ 4,036 $ 7,796 $ 8,044 (in thousands) March 31, 2017 September 30, 2016 Assets: Alico Citrus $ 412,717 $ 410,663 Conservation and Environmental Resources 15,136 13,073 Other Operations 32,093 22,050 Other Corporate Assets 13 9,659 Total Assets $ 459,959 $ 455,445

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Stock-Based Compensation The Company recognizes stock-based compensation expense for (i) Board of Directors fees (paid in treasury stock) and (ii) the Stock Incentive Plan of 2015 (paid in restricted stock). Stock-based compensation expense for the Board of Director fees and Named Executive Officers was approximately $190,000 and $629,000 for the three and six months ended March 31, 2017 , respectively, and approximately $251,000 and $446,000 for the three and six months ended March 31, 2016 , respectively. Stock-based compensation expense is recognized in general and administrative expenses in the Condensed Consolidated Statements of Operations. Stock Option Grant On December 31, 2016, the Company entered into new employment agreements (collectively, the “Employment Agreements”) with each of Remy W. Trafelet, Henry R. Slack, and George R. Brokaw (collectively, the “Executives”). Mr. Trafelet serves as the President and Chief Executive Officer of the Company, Mr. Slack serves as the Executive Chairman of the Company, and Mr. Brokaw serves as the Executive Vice Chairman of the Company, and each of them continues to serve on the Company’s Board of Directors. A stock option grant of 300,000 options in the case of Mr. Trafelet and 225,000 options in the case of each of Messrs. Slack and Brokaw (collectively, the “Option Grants”) were granted on December 31, 2016. The option price was set at $27.15 , the closing price on December 31, 2016. The Option Grants will vest as follows: (i) 25% of the options will vest if the price of the Company’s common stock during a consecutive 20 -trading day period exceeds $60.00 ; (ii) 25% of the options will vest if such price exceeds $75.00 ; (iii) 25% of the options will vest if such price exceeds $90.00 ; and (iv) 25% of the options will vest if such price exceeds $105.00 . If the applicable stock price hurdles have not been achieved by (A) the second anniversary of the Executive’s termination of employment, if the Executive’s employment is terminated due to death or disability, (B) the date that is 18 months following the Executive’s termination of employment, if the Executive’s employment is terminated by the Company without cause, by the Executive with good reason, or due to the Executive’s retirement, or (C) the date of the termination of the Executive’s employment for any other reason, then any unvested options will be forfeited. In addition, if the applicable stock price hurdles have not been achieved by the fifth anniversary of the grant date (or the fourth anniversary of the grant date, in the case of the tranche described in clause (i) above), then any unvested options will be forfeited. The Option Grants will also become vested to the extent that the applicable stock price hurdles are satisfied in connection with a change in control of the Company. The fair value of the Option Grants was estimated on the date of grant using a Monte Carlo valuation model that uses the assumptions noted in the following table. The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding; the range given below results from different time-frames for the various market conditions being met. Expected Volatility 32.19 % Expected Term (in years) 2.6 - 4.0 Risk Free Rate 2.45 % The weighted-average grant-date fair value of the Option Grants was $3.53 . There were no additional stock options granted, exercised or forfeited for the three and six months ended March 31, 2017 . Compensation expense related to the options totaled approximately $205,000 for the three months ended March 31, 2017 , and as of March 31, 2017, there was approximately $2,441,000 of total unrecognized compensation cost related to nonvested share-based compensation for the Option Grants. That cost is expected to be recognized over a weighted-average period of 3.1 years . Stock Repurchase Authorizations In fiscal year 2015, the Board of Directors authorized the repurchase of up to 170,000 shares of the Company’s common stock beginning March 26, 2015 , and continuing through December 31, 2016 (the "2015 Authorization"). The 2015 Authorization was completed on January 7, 2016. These stock repurchases were made through open market transactions at times and in such amounts as the Company’s broker determined subject to the provisions of SEC Rule 10b-18. The Company also adopted Rule 10b5-1 share repurchase plans under the Securities Exchange Act of 1934 (the “Plans”) in connection with the 2015 Authorization. The Plans allow the Company to repurchase its shares at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. In fiscal year 2016, the Board of Directors authorized the repurchase of up to 50,000 shares of the Company’s common stock beginning February 18, 2016 and continuing through February 17, 2017 (the "2016 Authorization"). No shares were repurchased under the 2016 Authorization prior to its expiration on February 17, 2017. In fiscal year 2017, the Board of Directors authorized the repurchase of up to $5,000,000 of the Company’s common stock beginning March 9, 2017 and continuing through March 9, 2019 (the “2017 Authorization”). The repurchases will be made from time to time by the Company in the open market or in privately negotiated transactions. The Company adopted a Rule 10b5-1 share repurchase plan under the Securities Exchange Act of 1934 (the “Plan”). The Plan allows the Company to repurchase its shares at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. For the three and six months ended March 31, 2017 , the Company purchased 24,502 shares at a cost of $641,000 under the 2017 Authorization. The following table illustrates the Company’s treasury stock purchases and issuances for the six months ended March 31, 2017 : (in thousands, except share amounts) Shares Cost Balance as of September 30, 2016 100,610 $ 4,585 Purchased 24,502 641 Issued to Directors (15,286 ) (640 ) Balance as of March 31, 2017 109,826 $ 4,586

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Letters of Credit The Company had outstanding standby letters of credit in the total amount of approximately $10,300,000 at March 31, 2017 to secure its various contractual obligations. Legal Proceedings From time to time, Alico may be involved in litigation relating to claims arising out of its operations in the normal course of business. There are no other current legal proceedings to which the Company is a party or of which any of its property is subject that it believes will have a material adverse effect on its financial position, results of operations or cash flows.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Clayton G. Wilson The Company entered into a Separation and Consulting Agreement with Clayton G. Wilson (the “Separation and Consulting Agreement”), the Company’s Chief Executive Officer, pursuant to which Mr. Wilson stepped down as Chief Executive Officer of the Company effective as of December 31, 2016. Under the Separation and Consulting Agreement, Mr. Wilson also acknowledged and agreed that he will continue to be bound by the restrictive covenants set forth in his Employment Agreement with the Company. The Separation and Consulting Agreement provides that, subject to his execution, delivery, and non-revocation of a general release of claims in favor of the Company, Mr. Wilson will be entitled to vesting of any unvested portion of the restricted stock award granted to him under his Employment Agreement. In addition, the Separation and Consulting Agreement provides that Mr. Wilson will serve as a consultant to the Company during 2017 and will receive an aggregate consulting fee of $750,000 for such services (payable $200,000 in an initial lump sum, $275,000 in a lump sum on July 1, 2017, and $275,000 in six equal monthly installments commencing July 31, 2017 and ending December 31, 2017). If the Company terminates the consulting period for any reason, it will continue to pay the consulting fees described in the immediately preceding sentence, subject to Mr. Wilson’s continued compliance with the restrictive covenants set forth in his employment agreement. The Company expensed $187,500 for the three and six months ended March 31, 2017 . Mr. Wilson resigned as a member of the Company’s Board of Directors effective February 27, 2017. Remy W. Trafelet, Henry R. Slack, and George R. Brokaw On December 31, 2016, the Company entered into new employment agreements (collectively, the “Employment Agreements”) with each of Remy W. Trafelet, Henry R. Slack, and George R. Brokaw (collectively, the “Executives”). Mr. Trafelet serves as the President and Chief Executive Officer of the Company, Mr. Slack serves as the Executive Chairman of the Company, and Mr. Brokaw serves as the Executive Vice Chairman of the Company, and each of them continues to serve on the Company’s Board of Directors. The Employment Agreements provide for an annual base salary of $400,000 in the case of Mr. Trafelet and $250,000 in the case of each of Messrs. Slack and Brokaw and, additionally, provided for payment to the Executives an amount in cash equal to $400,000 to Mr. Trafelet and $250,000 to each of Messrs. Slack and Brokaw within five business days of December 31, 2016. The Employment Agreements also provided stock option grants as described in Note 7. "Stockholders' Equity". The Employment Agreements also provide that, if the applicable Executive’s employment is terminated by the Company without “cause” or the applicable Executive resigns with “good reason” (as each such term is defined in the Employment Agreements), then, subject to his execution, delivery, and non-revocation of a general release of claims in favor of the Company, the Executive will be entitled to cash severance in an amount equal to 24 months (in the case of Mr. Trafelet) or 18 months (in the case of Messrs. Slack and Brokaw) of the Executive’s annual base salary. The Employment Agreement includes various restrictive covenants in favor of the Company, including a confidentiality covenant, a nondisparagement covenant, and 12 -month post-termination noncompetition and customer and employee nonsolicitation covenants. Silver Nip Citrus Merger Agreement Effective February 28, 2015, the Company completed the merger (“Merger”) with 734 Citrus Holdings, LLC (“Silver Nip Citrus”) pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) with 734 Sub, LLC, a wholly owned subsidiary of the Company (“Merger Sub”), Silver Nip Citrus and, solely with respect to certain sections thereof, the equity holders of Silver Nip Citrus. The ownership of Silver Nip Citrus was held by 734 Agriculture, 74.89% , Mr. Clay Wilson, former Chief Executive Officer of the Company, 5% and an entity controlled by Mr. Clay Wilson owned, 20.11% . 734 Agriculture has control over both Silver Nip Citrus and the Company, and therefore, the Merger was treated as a common control acquisition. At closing of the Merger, Merger Sub merged with and into Silver Nip Citrus, with Silver Nip Citrus and its affiliates surviving the Merger as wholly owned subsidiaries of the Company. Pursuant to the Merger Agreement, at closing, the Company issued 923,257 shares of the Company’s common stock, par value $1.00 per share, to the holders of membership interests in Silver Nip Citrus. Silver Nip Citrus’ outstanding net indebtedness at the closing of the Merger was approximately $40,278,000 , and other liabilities totaled approximately $8,446,000 . The Company acquired assets with a book value of approximately $65,739,000 , and total net assets of approximately $17,015,000 . The shares issued were recorded at the carrying amount of the net assets transferred. The closing price of the Company's common stock on February 27, 2015 was $45.67 . Through September 30, 2016, the former holders of membership interests (the "Members") in Silver Nip Citrus earned and were issued an additional 148,705 shares of the Company’s common stock pursuant to the Merger Agreement. The additional purchase consideration was based on the final value of the proceeds received by the Company from the sale of citrus fruit harvested on Silver Nip Citrus’s citrus groves for 2014-2015 citrus harvest season. No additional consideration of Company common shares is due in connection with the Merger. JD Alexander On November 6, 2013, JD Alexander tendered his resignation as Chief Executive Officer, and as an employee of the Company, subject to and effective immediately after the Closing of the Share Purchase transaction on November 19, 2013. Mr. Alexander’s resignation included a waiver of any rights to any payments under his Change-in-Control Agreement with the Company. On November 6, 2013, the Company and Mr. Alexander also entered into a Consulting and Non-Competition Agreement under which (i) Mr. Alexander will provide consulting services to the Company during the two -year period after the Closing, (ii) Mr. Alexander agreed to be bound by certain non-competition covenants relating to the Company’s citrus operations and non-solicitation and non-interference covenants for a period of two years after the Closing, and (iii) the Company paid Mr. Alexander $2,000,000 for such services and covenants in twenty-four monthly installments. The Company expensed approximately $0 and $167,000 for each of the six months ended March 31, 2017 and 2016 , respectively, under the Consulting and Non-Competition Agreement which concluded in November 2015. Ken Smith On March 20, 2015, Ken Smith tendered his resignation as Chief Operating Officer, and as an employee of the Company. Mr. Smith’s resignation included a waiver of any rights to any payments under his Change-in-Control Agreement with the Company. On March 20, 2015, the Company and Mr. Smith also entered into a Consulting and Non-Competition Agreement under which (i) Mr. Smith will provide consulting services to the Company during the three -year period after the resignation date, (ii) Mr. Smith agreed to be bound by certain non-competition covenants relating to the Company’s citrus operations and non-solicitation and non-interference covenants for a period of two years after the resignation date, and (iii) the Company will pay Mr. Smith up to $1,225,000 for such services and covenants. The Company expensed approximately $50,000 under the Consulting and Non-Competition Agreement for each of the three months ended March 31, 2017 and 2016 , respectively, and expensed approximately $100,000 for each of the six months ended March 31, 2017 and 2016 , respectively. W. Mark Humphrey On June 1, 2015, W. Mark Humphrey tendered his resignation as Senior Vice President and Chief Financial Officer, and as an employee of the Company. On June 1, 2015, the Company and Mr. Humphrey entered into a Separation and Consulting Agreement under which (i) Mr. Humphrey was to provide consulting services to the Company for a one -year period after his resignation, and (ii) Mr. Humphrey was entitled to the following benefits: (a) $100,000 in cash in a lump sum and (b) a consulting fee of $350,000 payable monthly during the period commencing on his resignation date and ending on the first anniversary of his resignation date. The Company expensed approximately $0 and $92,000 under the Separation and Consulting Agreement for each of the three months ended March 31, 2017 and 2016 , respectively, and approximately $0 and $180,000 for each of the six months ended March 31, 2017 and 2016 , respectively. On June 1, 2015 the Company appointed John E. Kiernan to serve as Senior Vice President and Chief Financial Officer. Effective September 1, 2015, Mr. Humphrey was appointed to serve as Senior Vice President and Chief Accounting Officer and continued to receive monthly payments under the Separation and Consulting Agreement through the first anniversary of his resignation date. Mr. Humphrey resigned as Senior Vice President and Chief Accounting Officer and as an employee of the Company effective April 3, 2017. Shared Services Agreement The Company has a shared services agreement with Trafelet Brokaw & Co., LLC (“TBCO”), whereby the Company reimburses TBCO for use of office space and various administrative and support services. The annual cost of the office and services is approximately $465,000 . The agreement will expire in June 2017. The Company expensed approximately $147,000 and $99,000 under the Shared Services Agreement for each of the three months ended March 31, 2017 and 2016 , respectively, and approximately $220,000 and $198,000 for each of the six months ended March 31, 2017 and 2016 , respectively.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consist of the following at March 31, 2017 and September 30, 2016 : (in thousands) March 31, 2017 September 30, 2016 Ad valorem taxes $ 988 $ 2,736 Accrued interest 1,191 1,135 Accrued employee wages and benefits 289 964 Current portion of deferred retirement obligations 342 342 Accrued dividends 498 498 Other accrued liabilities 930 1,245 Total accrued liabilities $ 4,238 $ 6,920

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company has prepared the accompanying financial statements on a condensed consolidated basis. These accompanying unaudited condensed consolidated interim financial statements, which are referred to herein as the “Financial Statements", have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to Article 10-01 of Regulation S-X of the U.S. Securities and Exchange Commission ("SEC") for interim financial information. These Financial Statements do not include all of the disclosures required for complete annual financial statements and, accordingly, certain information, footnotes and disclosures normally included in annual financial statements, prepared in accordance with U.S. GAAP, have been condensed or omitted in accordance with SEC rules and regulations. Accordingly, the Financial Statements should be read in conjunction with the Company's audited Consolidated and Combined Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2016 , as filed with the SEC on December 6, 2016 .
Segments	Segments Operating segments are defined in the criteria established under the Financial Accounting Standards Board - Accounting Standards Codification (“FASB ASC”) Topic 280, "Segment Reporting", 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 three operating segments: Alico Citrus , Conservation and Environmental Resources and Other Operations.
Principles of Consolidation and Noncontrolling Interest in Consolidated Affiliate	Noncontrolling Interest in Consolidated Affiliate The Financial Statements include all assets and liabilities of the less-than- 100% -owned affiliate the Company controls, Citree Holdings I, LLC (“Citree”). Accordingly, the Company has recorded a noncontrolling interest in the equity of such entity. Principles of Consolidation The Financial Statements include the accounts of Alico, Inc. and the accounts of all the subsidiaries in which a controlling interest is held by the Company. The Financial Statements represent the Condensed Consolidated Balance Sheets, Statements of Operations and Statements of Cash Flows of Alico, Inc. and its subsidiaries. Under U.S. GAAP, consolidation is generally required for investments of more than 50% of the outstanding voting stock of an investee, except when control is not held by the majority owner. The Company’s subsidiaries include: Alico Land Development, Inc., Alico-Agri, Ltd., Alico Plant World, LLC, Alico Fruit Company, LLC, Alico Citrus Nursery, LLC, Alico Chemical Sales, LLC, 734 Citrus Holdings LLC and subsidiaries, Alico Fresh Fruit LLC, Alico Skink Mitigation, LLC and Citree Holdings 1, LLC. The Company considers the criteria established under FASB ASC 810, “Consolidations” in its consolidation process. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities as of the date of the accompanying Financial Statements, the disclosure of contingent assets and liabilities in the Financial Statements and the accompanying Notes, and the reported amounts of revenues and expenses and cash flows during the periods presented. Actual results could differ from those estimates based upon future events. The Company evaluates estimates on an ongoing basis. The estimates are based on current and expected economic conditions, historical experience, the experience and judgment of the Company’s management and various other specific assumptions that the Company believes to be reasonable. The Company evaluates its assumptions and estimates on an ongoing basis and may employ outside experts to assist in the Company’s evaluations.
Business Combinations	Business Combinations The Company accounts for its business acquisitions under the acquisition method of accounting as indicated in FASB ASC 805, “Business Combinations”, which requires the acquiring entity in a business combination to recognize the fair value of all assets acquired, liabilities assumed and any noncontrolling interest in the acquiree and establishes the acquisition date as the fair value measurement date. Accordingly, the Company recognizes assets acquired and liabilities assumed in business combinations, including contingent assets and liabilities and noncontrolling interest in the acquiree, based on fair value estimates as of the date of acquisition. In accordance with FASB ASC 805, the Company recognizes and measures goodwill, if any, as of the acquisition date, as the excess of the fair value of the consideration paid over the fair value of the identified net assets acquired. When the Company acquires a business from an entity under common control, whereby the companies are ultimately controlled by the same party, or parties, both before and after the transaction, it is treated similarly to the pooling of interest method of accounting. The assets and liabilities are recorded at the transferring entity’s historical cost instead of reflecting the fair market value of assets and liabilities.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Clarifying the Definition of a Business In January 2017, the FASB issued ASU 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business" that provides guidance to assist entities with evaluating when a set of transferred assets and activities (set) is a business. Under the new guidance, an entity first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the set is not a business. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years. The ASU will be applied prospectively to any transactions occurring within the period of adoption. Early adoption is permitted. Derecognition and Partial Sales of Nonfinancial Assets Guidance Issued In February 2017, the FASB issued ASU 2017-05, “Other Income - Gains and Losses From the Derecognition of Nonfinancial Assets (Subtopic 610-20): The ASU clarifies that ASC 610-20 applies to the derecognition of nonfinancial assets and in substance nonfinancial assets unless other specific guidance applies. As a result, it will not apply to the derecognition of businesses, nonprofit activities, or financial assets (including equity method investments), or to contracts with customers. The ASU also clarifies that an in substance nonfinancial asset is an asset or group of assets for which substantially all of the fair value consists of nonfinancial assets and the group or subsidiary is not a business. In addition, transfers of nonfinancial assets to another entity in exchange for a noncontrolling ownership interest in that entity will be accounted for under ASC 610-20, removing specific guidance on such partial exchanges from ASC 845, Nonmonetary Transactions . As a result, guidance specific to real estate sales in ASC 360-20 will be eliminated. As such, sales and partial sales of real estate assets will now be subject to the same derecognition model as all other nonfinancial assets. The ASU will also impact the accounting for partial sales of nonfinancial assets (including in substance real estate). When an entity transfers its controlling interest in a nonfinancial asset, but retains a noncontrolling ownership interest, the entity will measure the retained interest at fair value. This will result in full gain/loss recognition upon the sale of a controlling interest in a nonfinancial asset. Current guidance generally prohibits gain recognition on the retained interest. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years and early adoption is permitted. The ASU will be applied prospectively to any transaction occurring from the date of adoption.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified in the accompanying Financial Statements for consistent presentation to the current period. These reclassifications had no impact on net income, equity or cash flows as previously reported;
Seasonality	Seasonality The Company is primarily engaged in the production of fruit for sale to citrus markets, which is of a seasonal nature, and subject to the influence of natural phenomena and wide price fluctuations. Historically, the second and third quarters of our fiscal year generally produce the majority of our annual revenue, and working capital requirements are typically greater in the first and fourth quarters of the fiscal year. The results of the reported periods herein are not necessarily indicative of the results for any other interim periods or the entire fiscal year.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consist of the following at March 31, 2017 and September 30, 2016 : (in thousands) March 31, 2017 September 30, 2016 Unharvested fruit crop on the trees $ 43,179 $ 52,204 Beef cattle 3,550 783 Citrus tree nursery 4,068 3,090 Other 2,272 2,392 Total inventories $ 53,069 $ 58,469

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	Property and equipment, net consists of the following at March 31, 2017 and September 30, 2016 : (in thousands) March 31, 2017 September 30, 2016 Citrus trees $ 255,948 $ 253,665 Equipment and other facilities 60,514 59,355 Buildings and improvements 16,035 21,780 Breeding herd 10,789 10,921 Total depreciable properties 343,286 345,721 Less: accumulated depreciation and depletion (86,303 ) (83,122 ) Net depreciable properties 256,983 262,599 Land and land improvements 115,529 116,648 Net property and equipment $ 372,512 $ 379,247

Long-Term Debt and Lines of C19

Long-Term Debt and Lines of Credit (Tables)	6 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt, net of current portion	The following table summarizes long-term debt and related deferred financing costs net of accumulated amortization at March 31, 2017 and September 30, 2016 : March 31, 2017 September 30, 2016 Principal Deferred Financing Costs, Net Principal Deferred Financing Costs, Net (in thousands) Long-term debt, net of current portion: Met Fixed-Rate Term Loans $ 102,188 $ 1,016 $ 105,312 $ 1,080 Met Variable-Rate Term Loans 51,030 467 52,469 497 Met Citree Term Loan 5,000 51 5,000 53 Pru Loans A & B 23,610 266 24,190 274 Pru Loan E 5,005 29 5,115 32 Pru Loan F 5,005 43 5,115 44 John Deere equipment loan — — 18 — 191,838 1,872 197,219 1,980 Less current portion 4,500 — 4,493 — Long-term debt $ 187,338 $ 1,872 $ 192,726 $ 1,980
Schedule of lines of credit	The following table summarizes lines of credit and related deferred financing costs net of accumulated amortization at March 31, 2017 and September 30, 2016 : March 31, 2017 September 30, 2016 Principal Deferred Financing Costs, Net Principal Deferred Financing Costs, Net (in thousands) Lines of Credit: RLOC $ 11,417 $ 134 $ 5,000 $ 159 WCLC — 130 — 230 Lines of Credit $ 11,417 $ 264 $ 5,000 $ 389
Schedule of future maturities of debt and lines of credit	Future maturities of debt and lines of credit as of March 31, 2017 are as follows: (in thousands) Due within one year $ 4,500 Due between one and two years 19,767 Due between two and three years 10,938 Due between three and four years 10,975 Due between four and five years 10,975 Due beyond five years 146,100 Total future maturities $ 203,255
Schedule of interest costs expensed and capitalized	Interest costs expensed and capitalized were as follows: (in thousands) Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Interest expense $ 2,374 $ 2,475 $ 4,701 $ 4,978 Interest capitalized 64 38 127 81 Total $ 2,438 $ 2,513 $ 4,828 $ 5,059

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per common share	For the three and six months ended March 31, 2017 and 2016 , basic and diluted earnings per common share were as follows: (in thousands except per share amounts) Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Net income attributable to Alico, Inc. common stockholders $ 5,833 $ 8,734 $ 4,098 $ 5,722 Weighted average number of common shares outstanding - basic 8,327 8,286 8,326 8,294 Dilutive effect of equity-based awards — 17 — 15 Weighted average number of common shares outstanding - diluted 8,327 8,303 8,326 8,309 Net income per common share attributable to Alico, Inc. common stockholders: Basic $ 0.70 $ 1.05 $ 0.49 $ 0.69 Diluted $ 0.70 $ 1.05 $ 0.49 $ 0.69

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of information by business segment	Information by operating segment is as follows: (in thousands) Three Months Ended March 31, Six Months Ended March 31, 2017 2016 2017 2016 Revenues: Alico Citrus $ 55,667 $ 70,982 $ 72,544 $ 90,277 Conservation and Environmental Resources 487 644 788 1,651 Other Operations 46 263 313 565 Total revenues 56,200 71,889 73,645 92,493 Operating expenses: Alico Citrus 40,923 51,716 55,008 69,324 Conservation and Environmental Resources 761 581 1,275 2,141 Other Operations — 77 93 147 Total operating expenses 41,684 52,374 56,376 71,612 Gross profit (loss): Alico Citrus 14,744 19,266 17,536 20,953 Conservation and Environmental Resources (274 ) 63 (487 ) (490 ) Other Operations 46 186 220 418 Total gross profit $ 14,516 $ 19,515 $ 17,269 $ 20,881 Depreciation, depletion and amortization: Alico Citrus $ 3,505 $ 3,391 $ 7,021 $ 6,748 Conservation and Environmental Resources 150 297 319 529 Other Operations 31 94 63 200 Other Depreciation, Depletion and Amortization 194 254 393 567 Total depreciation, depletion and amortization $ 3,880 $ 4,036 $ 7,796 $ 8,044 (in thousands) March 31, 2017 September 30, 2016 Assets: Alico Citrus $ 412,717 $ 410,663 Conservation and Environmental Resources 15,136 13,073 Other Operations 32,093 22,050 Other Corporate Assets 13 9,659 Total Assets $ 459,959 $ 455,445

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of treasury stock purchases and issuances	The following table illustrates the Company’s treasury stock purchases and issuances for the six months ended March 31, 2017 : (in thousands, except share amounts) Shares Cost Balance as of September 30, 2016 100,610 $ 4,585 Purchased 24,502 641 Issued to Directors (15,286 ) (640 ) Balance as of March 31, 2017 109,826 $ 4,586
Schedule of stock options using valuation assumptions	The fair value of the Option Grants was estimated on the date of grant using a Monte Carlo valuation model that uses the assumptions noted in the following table. The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding; the range given below results from different time-frames for the various market conditions being met. Expected Volatility 32.19 % Expected Term (in years) 2.6 - 4.0 Risk Free Rate 2.45 %

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Schedule of accrued liabilities	Accrued liabilities consist of the following at March 31, 2017 and September 30, 2016 : (in thousands) March 31, 2017 September 30, 2016 Ad valorem taxes $ 988 $ 2,736 Accrued interest 1,191 1,135 Accrued employee wages and benefits 289 964 Current portion of deferred retirement obligations 342 342 Accrued dividends 498 498 Other accrued liabilities 930 1,245 Total accrued liabilities $ 4,238 $ 6,920

Basis of Presentation (Details)

Basis of Presentation (Details) a in Thousands, $ in Thousands	Oct. 01, 2015segment	Mar. 31, 2017USD ($)aclassificationsegment	Mar. 31, 2016USD ($)	Sep. 30, 2016USD ($)
Property, Plant and Equipment [Line Items]
Number of business segments | segment	3	3
Ownership interest (as a percent)		51.00%	51.00%
Decrease in working capital | $				$ 1,184
Citree
Property, Plant and Equipment [Line Items]
Net income (loss) attributable to noncontrolling interest | $		$ 88	$ (37)
Land
Property, Plant and Equipment [Line Items]
Area of land owned (in acres) | a		122
Number of primary classifications | classification		2
Mineral Rights
Property, Plant and Equipment [Line Items]
Area of land owned (in acres) | a		90

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Inventory [Line Items]
Total inventories	$ 53,069	$ 58,469
Unharvested fruit crop on the trees
Inventory [Line Items]
Unharvested fruit crop on the trees and Beef cattle	43,179	52,204
Beef cattle
Inventory [Line Items]
Unharvested fruit crop on the trees and Beef cattle	3,550	783
Citrus tree nursery
Inventory [Line Items]
Citrus tree nursery and Other	4,068	3,090
Other
Inventory [Line Items]
Citrus tree nursery and Other	$ 2,272	$ 2,392

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of PP&E (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Property, Plant and Equipment [Line Items]
Net property and equipment	$ 372,512	$ 379,247
Citrus trees
Property, Plant and Equipment [Line Items]
Property and equipment, gross	255,948	253,665
Equipment and other facilities
Property, Plant and Equipment [Line Items]
Property and equipment, gross	60,514	59,355
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	16,035	21,780
Breeding herd
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,789	10,921
Depreciable properties
Property, Plant and Equipment [Line Items]
Property and equipment, gross	343,286	345,721
Less: accumulated depreciation and depletion	(86,303)	(83,122)
Net property and equipment	256,983	262,599
Land and land improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 115,529	$ 116,648

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Feb. 02, 2017USD ($)a
Property, Plant and Equipment [Line Items]
Gain on sale of real estate	$ 1,396,000	$ 760,000	$ 1,832,000	$ 902,000
Hendry County, Florida
Property, Plant and Equipment [Line Items]
Area of land used (in acres) | a					49
Proceeds from sale of land					$ 2,200,000
Gain on sale of real estate	1,400,000		1,400,000
Fort Myers Property, Florida
Property, Plant and Equipment [Line Items]
Proceeds from sale of land	$ 6,000,000		$ 6,000,000

Long-Term Debt and Lines of C28

Long-Term Debt and Lines of Credit - Debt Refinancing (Details)	Dec. 03, 2014USD ($)	Mar. 31, 2017USD ($)a	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)a	Sep. 30, 2017USD ($)	Dec. 01, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)
Debt Instrument [Line Items]
Interest rate term loans		$ 191,838,000		$ 191,838,000			$ 197,219,000
Minimum debt service coverage ratio	1.10
Tangible net worth	$ 160,000,000
Percentage of consolidated net income	10.00%
Minimum current ratio	1.50
Debt to total assets ratio	0.625
Limit on capital expenditures	$ 30,000,000
Advances		$ 53,499,000	$ 50,132,000
Silver Nip Citrus
Debt Instrument [Line Items]
Minimum current ratio		1.5		1.5
Farm and Ranch Land
Debt Instrument [Line Items]
Area of land (in acres) | a		5,762		5,762
Citrus Groves
Debt Instrument [Line Items]
Area of land (in acres) | a		38,200		38,200
Loans Payable | Silver Nip Citrus
Debt Instrument [Line Items]
Interest rate term loans			7,000,000
Limited guaranty and security agreement			$ 7,000,000			$ 8,000,000	$ 8,000,000
RLOC
Debt Instrument [Line Items]
Revolving line of credit	$ 25,000,000
Availability under line of credit		$ 25,000,000		$ 25,000,000
RLOC | 90 Day LIBOR
Debt Instrument [Line Items]
LIBOR spread	1.50%
RLOC | LIBOR
Debt Instrument [Line Items]
Annual commitment fee (as a percent)	0.25%
WCLC
Debt Instrument [Line Items]
Revolving line of credit	$ 70,000,000
Variable interest rate (as a percentage)		2.53%		2.53%			2.27%
Availability under line of credit		$ 48,300,000		$ 48,300,000
WCLC | Letter of Credit
Debt Instrument [Line Items]
Revolving line of credit	$ 20,000,000
Outstanding balance		11,417,000		11,417,000
Outstanding letters of credit		10,300,000		$ 10,300,000
WCLC | One Month LIBOR
Debt Instrument [Line Items]
LIBOR spread				1.75%
WCLC | One Month LIBOR | Minimum
Debt Instrument [Line Items]
LIBOR spread	1.75%
Annual commitment fee (as a percent)	0.20%
WCLC | One Month LIBOR | Maximum
Debt Instrument [Line Items]
LIBOR spread	2.50%
Annual commitment fee (as a percent)	0.30%
Metlife Term Loan | Citree
Debt Instrument [Line Items]
Revolving line of credit		5,000,000		$ 5,000,000
Interest rate				5.28%
Fixed Interest Rate Term Loans
Debt Instrument [Line Items]
Interest rate term loans	$ 125,000,000	102,188,000		$ 102,188,000			$ 105,312,000
Quarterly principal payments	$ 2,281,250
Fixed interest rate (as a percentage)	4.15%
Prepayment amount of the fixed term loan	$ 8,750,000							$ 0
Fixed Interest Rate Term Loans | Silver Nip Citrus
Debt Instrument [Line Items]
Interest rate term loans		$ 27,550,000		27,550,000
Quarterly principal payments				$ 290,000
Fixed interest rate (as a percentage)		5.35%		5.35%
Prepayment amount of the fixed term loan		$ 5,000,000		$ 5,000,000
Variable Interest Rate Term Loans
Debt Instrument [Line Items]
Interest rate term loans	$ 57,500,000	$ 51,030,000		$ 51,030,000			$ 52,469,000
LIBOR spread subject to adjustment period	2 years
Variable interest rate (as a percentage)		2.54%		2.54%			2.25%
Variable Interest Rate Term Loans | 90 Day LIBOR
Debt Instrument [Line Items]
LIBOR spread	1.50%
Scenario, Forecast
Debt Instrument [Line Items]
Annual increase of tangible net worth					$ 162,300,000

Long-Term Debt and Lines of C29

Long-Term Debt and Lines of Credit - Silver Nip Citrus Debt (Details)	Dec. 03, 2014USD ($)	Sep. 04, 2014USD ($)aloan	Mar. 31, 2017USD ($)loan	Dec. 01, 2016USD ($)	Sep. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Sep. 30, 2015USD ($)	Feb. 15, 2015USD ($)
Debt Instrument [Line Items]
Interest rate term loans			$ 191,838,000		$ 197,219,000
Minimum current ratio	1.50
Fixed Interest Rate Term Loans
Debt Instrument [Line Items]
Interest rate term loans	$ 125,000,000		$ 102,188,000		105,312,000
Fixed interest rate (as a percentage)	4.15%
Quarterly principal payments	$ 2,281,250
Prepayment amount of the fixed term loan (up to)	$ 8,750,000						$ 0
Silver Nip Citrus
Debt Instrument [Line Items]
Number of fixed rate term loans | loan		2
Minimum current ratio			1.5
Silver Nip Citrus | Citrus Grove
Debt Instrument [Line Items]
Area of land acquired (in acres) | a		1,500
Silver Nip Citrus | Fixed Interest Rate Term Loans
Debt Instrument [Line Items]
Number of fixed rate term loans | loan			2
Interest rate term loans			$ 27,550,000
Fixed interest rate (as a percentage)			5.35%
Quarterly principal payments			$ 290,000
Prepayment amount of the fixed term loan (up to)			$ 5,000,000
Amount of prepayment								$ 750,000
Silver Nip Citrus | Fixed Interest Rate Term Loans | Prudential
Debt Instrument [Line Items]
Interest rate term loans		$ 5,500,000
Quarterly principal payments		$ 55,000
Silver Nip Citrus | Fixed Rate Term Loan1
Debt Instrument [Line Items]
Fixed interest rate (as a percentage)		3.85%
Silver Nip Citrus | Fixed Rate Term Loan 2
Debt Instrument [Line Items]
Fixed interest rate (as a percentage)		3.45%
Loans Payable | Silver Nip Citrus
Debt Instrument [Line Items]
Interest rate term loans						$ 7,000,000
Limited guaranty and security agreement				$ 8,000,000	$ 8,000,000	$ 7,000,000

Long-Term Debt and Lines of C30

Long-Term Debt and Lines of Credit - Modification of Credit Agreements (Details) - USD ($)	Mar. 31, 2017	Dec. 01, 2016	Sep. 30, 2016	Mar. 31, 2016
Debt Instrument [Line Items]
Interest rate term loans (up to)	$ 191,838,000		$ 197,219,000
Silver Nip Citrus | Loans Payable
Debt Instrument [Line Items]
Interest rate term loans (up to)				$ 7,000,000
Limited guaranty and security agreement		$ 8,000,000	$ 8,000,000	$ 7,000,000

Long-Term Debt and Lines of C31

Long-Term Debt and Lines of Credit - Schedule of Long-term Debt, Net of Current Portion (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2016	Dec. 03, 2014
Debt Instrument [Line Items]
Long-term debt, net of current portion	$ 191,838,000	$ 197,219,000
Less current portion	4,500,000	4,493,000
Deferred Financing Costs, Net	1,872,000	1,980,000
Less current portion	0	0
Long-term debt	187,338,000	192,726,000
Deferred financing costs	1,872,000	1,980,000
Met Fixed-Rate Term Loans
Debt Instrument [Line Items]
Long-term debt, net of current portion	102,188,000	105,312,000	$ 125,000,000
Deferred Financing Costs, Net	1,016,000	1,080,000
Met Variable-Rate Term Loans
Debt Instrument [Line Items]
Long-term debt, net of current portion	51,030,000	52,469,000	$ 57,500,000
Deferred Financing Costs, Net	467,000	497,000
Met Citree Term Loan
Debt Instrument [Line Items]
Long-term debt, net of current portion	5,000,000	5,000,000
Deferred Financing Costs, Net	51,000	53,000
Pru Loans A & B
Debt Instrument [Line Items]
Long-term debt, net of current portion	23,610,000	24,190,000
Deferred Financing Costs, Net	266,000	274,000
Pru Loan E
Debt Instrument [Line Items]
Long-term debt, net of current portion	5,005,000	5,115,000
Deferred Financing Costs, Net	29,000	32,000
Pru Loan F
Debt Instrument [Line Items]
Long-term debt, net of current portion	5,005,000	5,115,000
Deferred Financing Costs, Net	43,000	44,000
John Deere equipment loan
Debt Instrument [Line Items]
Long-term debt, net of current portion	0	18,000
Deferred Financing Costs, Net	$ 0	$ 0

Long-Term Debt and Lines of C32

Long-Term Debt and Lines of Credit - Schedule of Lines of Credit (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Line of Credit Facility [Line Items]
Deferred Financing Costs, Net	$ 1,872	$ 1,980
Line of Credit
Line of Credit Facility [Line Items]
Lines of Credit	11,417	5,000
Deferred Financing Costs, Net	264	389
Line of Credit | RLOC
Line of Credit Facility [Line Items]
Lines of Credit	11,417	5,000
Deferred Financing Costs, Net	134	159
Line of Credit | WCLC
Line of Credit Facility [Line Items]
Lines of Credit	0	0
Deferred Financing Costs, Net	$ 130	$ 230

Long-Term Debt and Lines of C33

Long-Term Debt and Lines of Credit - Schedule of Future Maturities of Debt and Lines of Credit (Details) $ in Thousands	Mar. 31, 2017USD ($)
Debt Disclosure [Abstract]
Due within one year	$ 4,500
Due between one and two years	19,767
Due between two and three years	10,938
Due between three and four years	10,975
Due between four and five years	10,975
Due beyond five years	146,100
Total future maturities	$ 203,255

Long-Term Debt and Lines of C34

Long-Term Debt and Lines of Credit - Schedule of Interest Costs Expensed and Capitalized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Debt Disclosure [Abstract]
Interest expense	$ 2,374	$ 2,475	$ 4,701	$ 4,978
Interest capitalized	64	38	127	81
Total	$ 2,438	$ 2,513	$ 4,828	$ 5,059

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income attributable to Alico, Inc. common stockholders	$ 5,833	$ 8,734	$ 4,098	$ 5,722
Weighted average number of common shares outstanding - basic (in shares)	8,327	8,286	8,326	8,294
Dilutive effect of equity-based awards (in shares)	0	17	0	15
Weighted average number of common shares outstanding - diluted (in shares)	8,327	8,303	8,326	8,309
Net income per common share attributable to Alico, Inc. common stockholders:
Basic (in dollars per share)	$ 0.70	$ 1.05	$ 0.49	$ 0.69
Diluted (in dollars per share)	$ 0.70	$ 1.05	$ 0.49	$ 0.69

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares	6 Months Ended	12 Months Ended
	Mar. 31, 2017	Sep. 30, 2015
Officer
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	750,000
Chief executive Officer and Chief Financial Officer
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		12,500

Segment Information - Narrative

Segment Information - Narrative (Details)	Oct. 01, 2015segment	Mar. 31, 2017classificationsegment
Segment Reporting [Abstract]
Number of operating segments | segment	3	3
Land
Property, Plant and Equipment [Line Items]
Number of primary classifications | classification		2

Segment Information - Schedule

Segment Information - Schedule of Information by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2016
Revenues:
Total revenues	$ 56,200	$ 71,889	$ 73,645	$ 92,493
Operating expenses:
Total operating expenses	41,684	52,374	56,376	71,612
Gross profit (loss):
Total gross profit	14,516	19,515	17,269	20,881
Depreciation, depletion and amortization:
Total depreciation, depletion and amortization	3,880	4,036	7,796	8,044
Assets:
Total Assets	459,959		459,959		$ 455,445
Operating Segments
Revenues:
Total revenues	56,200	71,889	73,645	92,493
Operating expenses:
Total operating expenses	41,684	52,374	56,376	71,612
Other Depreciation, Depletion and Amortization
Depreciation, depletion and amortization:
Total depreciation, depletion and amortization	194	254	393	567
Other Corporate Assets
Assets:
Total Assets	13		13		9,659
Alico Citrus
Revenues:
Total revenues	55,667	70,982	72,544	90,277
Operating expenses:
Total operating expenses	40,923	51,716	55,008	69,324
Alico Citrus | Operating Segments
Gross profit (loss):
Total gross profit	14,744	19,266	17,536	20,953
Depreciation, depletion and amortization:
Total depreciation, depletion and amortization	3,505	3,391	7,021	6,748
Assets:
Total Assets	412,717		412,717		410,663
Conservation and Environmental Resources
Revenues:
Total revenues	487	644	788	1,651
Operating expenses:
Total operating expenses	761	581	1,275	2,141
Conservation and Environmental Resources | Operating Segments
Gross profit (loss):
Total gross profit	(274)	63	(487)	(490)
Depreciation, depletion and amortization:
Total depreciation, depletion and amortization	150	297	319	529
Assets:
Total Assets	15,136		15,136		13,073
Other Operations
Revenues:
Total revenues	46	263	313	565
Operating expenses:
Total operating expenses	0	77	93	147
Other Operations | Operating Segments
Gross profit (loss):
Total gross profit	46	186	220	418
Depreciation, depletion and amortization:
Total depreciation, depletion and amortization	31	$ 94	63	$ 200
Assets:
Total Assets	$ 32,093		$ 32,093		$ 22,050

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Class of Stock [Line Items]
Option price (in dollars per share)	$ 27.15
Period of consecutive trading days	20 days
Period following an executive's termination of employment for a number of reasons	18 months
Shares of common stock authorized to be repurchased (up to) (in shares)							50,000	170,000
Shares available to purchase (in shares)							0
Value of treasury stock shares purchased		$ 4,586		$ 4,586			$ 4,585
Corporate, General and Administrative Expense
Class of Stock [Line Items]
Stock-based compensation expense		$ 190	$ 251	$ 629	$ 446
Remy W. Trafelet
Class of Stock [Line Items]
Options granted in period (in shares)	300,000
George R. Brokaw
Class of Stock [Line Items]
Options granted in period (in shares)	225,000
Henry R. Slack
Class of Stock [Line Items]
Options granted in period (in shares)	225,000
Tranche One
Class of Stock [Line Items]
Percentage of options	25.00%
Amount per share (in dollars per share)	$ 60
Tranche Two
Class of Stock [Line Items]
Percentage of options	25.00%
Amount per share (in dollars per share)	$ 75
Tranche Three
Class of Stock [Line Items]
Percentage of options	25.00%
Amount per share (in dollars per share)	$ 90
Tranche Four
Class of Stock [Line Items]
Percentage of options	25.00%
Amount per share (in dollars per share)	$ 105
Stock Option
Class of Stock [Line Items]
Options granted in period (in shares)				0
Weighted average grant date fair value of option grant (in dollars per share)		$ 3.53		$ 3.53
Stock options exercised (in shares)				0
Stock options forfeited (in shares)				0
Unrecognized compensation cost		$ 2,441		$ 2,441
Weighted average period of cost expected to be recognized				3 years 1 month 12 days
Stock-based compensation expense		$ 205
2017 Authorization Program
Class of Stock [Line Items]
Treasury stock shares purchased (in shares)		24,502		24,502
Value of treasury stock shares purchased		$ 641,000		$ 641,000
2017 Authorization Program | Scenario, Forecast
Class of Stock [Line Items]
Shares of common stock authorized to be repurchased (up to) (in shares)						5,000,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Valuation Assumptions (Details) - Stock Option	6 Months Ended
	Mar. 31, 2017
Class of Stock [Line Items]
Expected Volatility (as a percent)	32.19%
Risk Free Rate (as a percent)	2.45%
Minimum
Class of Stock [Line Items]
Expected Term (in years)	2 years 7 months 6 days
Maximum
Class of Stock [Line Items]
Expected Term (in years)	4 years

Stockholders' Equity - Schedu41

Stockholders' Equity - Schedule of Treasury Stock Purchases and Issuance (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2017USD ($)shares
Shares
Beginning Balance (in shares) | shares	100,610
Ending Balance (in shares) | shares	109,826
Cost
Beginning Balance | $	$ 4,585
Ending Balance | $	$ 4,586
Treasury Stock
Shares
Beginning Balance (in shares) | shares	100,610
Purchased (in shares) | shares	24,502
Ending Balance (in shares) | shares	109,826
Cost
Beginning Balance | $	$ 4,585
Purchased | $	641
Ending Balance | $	$ 4,586
Treasury Stock | Director
Shares
Issued to Directors (in shares) | shares	(15,286)
Cost
Issued to Directors | $	$ (640)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2017USD ($)
Financial Standby Letter of Credit
Loss Contingencies [Line Items]
Outstanding standby letters of credit	$ 10.3

Related Party Transaction - Cla

Related Party Transaction - Clayton G. Wilson (Details) - Clayton G. Wilson - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Dec. 31, 2017	Jul. 01, 2017
Related Party Transaction [Line Items]
Payments for services and covenants		$ 750,000
Lump sum payments	$ 200,000	200,000
Expense under separation and consulting agreement	$ 187,500	$ 187,500
Scenario, Forecast
Related Party Transaction [Line Items]
Lump sum payments			$ 275,000	$ 275,000

Related Party Transactions - Re

Related Party Transactions - Remy W. Trafelet, Henry R. Slack and George R. Brokaw (Details) $ in Thousands	Dec. 31, 2016USD ($)shares
Related Party Transaction [Line Items]
Period equivalent to severance cost payment	18 months
Period of post-termination noncompetition and customer and employee nonsolicitation covenants	12 months
Remy W. Trafelet
Related Party Transaction [Line Items]
Annual base salary	$ 400
Payment to executives in cash	$ 400
Options granted in period (in shares) | shares	300,000
Period equivalent to severance cost payment	24 months
Henry R. Slack
Related Party Transaction [Line Items]
Annual base salary	$ 250
Payment to executives in cash	$ 250
Options granted in period (in shares) | shares	225,000
George R. Brokaw
Related Party Transaction [Line Items]
Annual base salary	$ 250
Payment to executives in cash	$ 250
Options granted in period (in shares) | shares	225,000
Period equivalent to severance cost payment	18 months

Related Party Transactions - Si

Related Party Transactions - Silver Nip Citrus Merger Agreement (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 28, 2015	Sep. 30, 2016	Mar. 31, 2017	Mar. 31, 2016	Feb. 27, 2015
Related Party Transaction [Line Items]
Ownership interest (as a percent)			51.00%	51.00%
Common stock, par value per share (in dollars per share)	$ 1	$ 1	$ 1
Closing price of common stock (in dollars per share)					$ 45.67
Merger Agreement
Related Party Transaction [Line Items]
Shares of common stock issued (in shares)	923,257	148,705
Outstanding net indebtedness	$ 40,278
Other liabilities	8,446
Book value of assets	65,739
Total net assets	$ 17,015
734 Agriculture | Silver Nip Citrus
Related Party Transaction [Line Items]
Ownership interest (as a percent)	74.89%
Mr. Clay Wilson | Silver Nip Citrus
Related Party Transaction [Line Items]
Ownership interest (as a percent)	5.00%
Entity Controlled by Mr. Clay Wilson | Silver Nip Citrus
Related Party Transaction [Line Items]
Ownership interest (as a percent)	20.11%

Related Party Transactions - JD

Related Party Transactions - JD Alexander (Details) - JD Alexander	Nov. 06, 2013USD ($)installment	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Related Party Transaction [Line Items]
Consulting services and covenant period	2 years
Payments for services and covenants	$ 2,000,000
Number of monthly installments | installment	24
Expense under consulting and non-compete agreement		$ 0	$ 0	$ 167,000

Related Party Transactions - Ke

Related Party Transactions - Ken Smith (Details) - Ken Smith - USD ($)	Mar. 20, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Payments for services and covenants (up to)	$ 1,225,000
Expense under consulting and non-compete agreement		$ 50,000	$ 50,000	$ 100,000	$ 100,000
Consulting Services
Related Party Transaction [Line Items]
Consulting services and covenant period	3 years
Covenants
Related Party Transaction [Line Items]
Consulting services and covenant period	2 years

Related Party Transactions - W.

Related Party Transactions - W. Mark Humphrey (Details) - W. Mark Humphrey - USD ($)	Jun. 01, 2015	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Consulting services and covenant period	1 year
Cash in a lump sum	$ 100,000
Payments for services and covenants	$ 350,000
Expense under separation and consulting agreement		$ 0	$ 92,000	$ 0	$ 180,000

Related Party Transactions - Sh

Related Party Transactions - Shared Services Agreement (Details) - TBCO - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Payments for services and covenants			$ 465
Expense under shared services agreement	$ 147	$ 99	$ 220	$ 198

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Sep. 30, 2016
Payables and Accruals [Abstract]
Ad valorem taxes	$ 988	$ 2,736
Accrued interest	1,191	1,135
Accrued employee wages and benefits	289	964
Current portion of deferred retirement obligations	342	342
Accrued dividends	498	498
Other accrued liabilities	930	1,245
Total accrued liabilities	$ 4,238	$ 6,920