Royal Hawaiian Orchards (NNUTU) 10-Q 16 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 13, 2015
Entity Registrant Name	ROYAL HAWAIIAN ORCHARDS, L.P.
Entity Central Index Key	792,161
Trading Symbol	nnutu
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		11,100,000
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 1,070,000	$ 786,000
Accounts receivable	1,682,000	1,821,000
Inventories	6,290,000	$ 4,713,000
Deferred farming costs	2,239,000
Other current assets	383,000	$ 537,000
Total current assets	11,664,000	7,857,000
Land, orchards and equipment, net	51,385,000	42,318,000
Other non-current assets	709,000	412,000
Total assets	63,758,000	$ 50,587,000
Liabilities and partners’ capital
Bridge loan	2,835,000
Current portion of long-term debt	2,202	$ 1,050
Accounts payable	1,354,000	1,015,000
Accrued payroll and benefits	919,000	1,001,000
Other current liabilities	567,000	164,000
Total current liabilities	7,877,000	3,230,000
Non-current pension benefits	580,000	580,000
Long-term debt	14,047,000	4,725,000
Deferred income tax liability	1,004,000	1,004,000
Total liabilities	$ 23,508,000	$ 9,539,000
Commitments and contingencies
Partners’ capital
Class A limited partners, no par or assigned value, 11,100 units authorized, issued and outstanding	$ 40,431,000	$ 41,234,000
Accumulated other comprehensive loss	(181,000)	(186,000)
Total partners’ capital	40,250,000	41,048,000
Total liabilities and partners’ capital	$ 63,758,000	$ 50,587,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Class A limited partners, par or assigned value (in dollars per share)	$ 0	$ 0
Class A limited partners, units authorized (in shares)	11,100	11,100
Class A limited partners, units issued (in shares)	11,100	11,100
Class A limited partners, units outstanding (in shares)	11,100	11,100

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Orchards [Member]
Revenues	$ 1,129,000	$ 3,918,000	$ 4,829,000	$ 6,173,000
Operating income (loss)	(27,000)	(581,000)	1,453,000	(775,000)
Branded Products [Member]
Revenues	3,557,000	994,000	8,419,000	4,616,000
Operating income (loss)	8,000	(779,000)	(705,000)	(1,909,000)
Revenues	4,686,000	4,912,000	13,248,000	10,789,000
Cost of orchards revenue	955,000	4,077,000	3,484,000	6,144,000
Cost of branded product sales	2,330,000	1,114,000	5,983,000	4,198,000
Total cost of revenues	3,285,000	5,191,000	9,467,000	10,342,000
Gross profit (loss)	1,401,000	(279,000)	3,781,000	447,000
General and administrative expenses	926,000	691,000	2,271,000	2,015,000
Selling expenses	515,000	247,000	1,487,000	796,000
Operating income (loss)	$ (40,000)	$ (1,217,000)	23,000	(2,364,000)
Net loss on sale of property			(1,000)	(1,870,000)
Net interest expense	$ (245,000)	$ (108,000)	(529,000)	(387,000)
Other income (expense)	92,000	(107,000)	(188,000)	(27,000)
Income (loss) before income taxes	(193,000)	(1,432,000)	(695,000)	(4,648,000)
Income tax (benefit) expense	23,000	(11,000)	108,000	5,000
Net (loss)	(216,000)	(1,421,000)	(803,000)	(4,653,000)
Other comprehensive income, net of tax
Amortization of prior service cost	2,000	2,000	5,000	5,000
Amortization of actuarial loss	0	0	0	0
Subtotal defined benefit pension plan	2,000	2,000	5,000	5,000
Other comprehensive income, net of tax	2,000	2,000	5,000	5,000
Comprehensive (loss)	$ (214,000)	$ (1,419,000)	$ (798,000)	$ (4,648,000)
Net (loss) per Class A Unit (in dollars per share)	$ (0.02)	$ (0.13)	$ (0.07)	$ (0.44)
Cash distributions per Class A Unit (in dollars per share)
Weighted average Class A Units outstanding (in shares)	11,100	11,100	11,100	10,625

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Partners' Capital (Unaudited) - USD ($)	General Partner [Member]	Limited Partner [Member]	AOCI Attributable to Parent [Member]	Total
Partners’ capital at Dec. 31, 2013	$ 38,547,000		$ 37,000	$ 38,584,000
Partners’ capital at beginning of period:
Allocation of net income (loss)		$ (4,653,000)		(4,653,000)
Units issued for cash:
				8,880,000
Change in pension and severance obligations			5,000	5,000
Partners’ capital at end of period at Sep. 30, 2014	42,774,000		42,000	42,816,000
Partners’ capital at Jun. 30, 2014	44,195,000		40,000	44,235,000
Partners’ capital at beginning of period:
Allocation of net income (loss)		(1,421,000)		$ (1,421,000)
Units issued for cash:
Change in pension and severance obligations			2,000	$ 2,000
Partners’ capital at end of period at Sep. 30, 2014	42,774,000		42,000	42,816,000
Partners’ capital at Dec. 31, 2014	41,234,000		(186,000)	41,048,000
Partners’ capital at beginning of period:
Allocation of net income (loss)		(803,000)		$ (803,000)
Units issued for cash:
Change in pension and severance obligations			5,000	$ 5,000
Partners’ capital at end of period at Sep. 30, 2015	40,431,000		(181,000)	40,250,000
Partners’ capital at Jun. 30, 2015	40,647,000		(183,000)	40,464,000
Partners’ capital at beginning of period:
Allocation of net income (loss)		$ (216,000)		(216,000)
Units issued for cash:
				0
Change in pension and severance obligations			2,000	2,000
Partners’ capital at end of period at Sep. 30, 2015	$ 40,431,000		$ (181,000)	$ 40,250,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Partners' Capital (Unaudited) (Parentheticals) - Limited Partner [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Class A Limited Partner Units, Units (in shares)				3,600
Class A Limited Partner Units, Fees				$ 0.3

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Cash received from goods and services	$ 13,533,000	$ 11,568,000
Cash paid to suppliers and employees	(14,725,000)	(12,462,000)
Interest paid	(405,000)	$ (352,000)
Taxes paid	(2,000)
Net cash used in operating activities	$ (1,599,000)	$ (1,246,000)
Cash flows from investing activities:
Proceeds from sale of property and equipment		1,493,000
Purchase of property and equipment	$ (11,130,000)	(2,265,000)
Net cash used in by investing activities	(11,130,000)	$ (772,000)
Cash flows from financing activities:
Debt issuance costs	(296,000)
Proceeds from long-term debt	$ 13,378,000
Proceeds from rights offering		$ 9,180,000
Payment of rights offering fees		(110,000)
Proceeds from drawings on line of credit	$ 2,810,000	2,300,000
Repayment of line of credit	(1,810,000)	(8,200,000)
Repayment on long-term debt	(1,069,000)	(700,000)
Net cash provided by financing activities	13,013,000	2,470,000
Net increase in cash and cash equivalents	284,000	452,000
Cash and cash equivalents at beginning of period	786,000	205,000
Cash and cash equivalents at end of period	1,070,000	657,000
Net loss	(803,000)	(4,653,000)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	1,478,000	1,320,000
Net loss on sale of property and equipment	1,000	1,870,000
Defined benefit pension plan expense	$ 5,000	5,000
Deferred income tax credit		(15,000)
Decrease in accounts receivable	$ 139,000	658,000
(Increase) decrease in inventories	(1,577,000)	1,755,000
Increase in deferred farming costs	(1,656,000)	(2,141,000)
Decrease in other current assets	155,000	150,000
Increase in accounts payable	339,000	367,000
Decrease in accrued payroll and benefits	(82,000)	(505,000)
(Decrease) increase in other current liabilities	402,000	(57,000)
Total adjustments	(796,000)	3,407,000
Net cash used in operating activities	$ (1,599,000)	$ (1,246,000)

Supplemental Disclosure of Non-

Supplemental Disclosure of Non-cash Activity:	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	Supplemental disclosure of non-cash activity: ● For the nine months ended September 30, 2015 and 2014, $583,000 and $556,000, respectively, of depreciation expense was included in deferred farming costs. ● During the nine months ended September 30, 2014, upon completion of the rights offering, the Partnership netted $190,000 of offering costs against offering proceeds, which were recorded on the balance sheet as of December 31, 2013. See accompanying notes to condensed consolidated financial statements.

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Basis of Accounting [Text Block]	(1) BASIS OF PRESENTATION Royal Hawaiian Orchards, L.P. (the “Partnership”) is a master limited partnership, organized under the laws of the State of Delaware in 1986. The accompanying unaudited condensed consolidated financial statements of the Partnership and its subsidiaries Royal Hawaiian Resources, Inc. (“RHR”), Royal Hawaiian Services, LLC (“RHS”) and Royal Hawaiian Macadamia Nut, Inc. (“Royal”), include all adjustments (consisting only of those of a normal recurring nature) that, in the opinion of management, are necessary to present fairly their financial position as of September 30, 2015, and December 31, 2014, and the results of operations, changes in partners’ capital and cash flows for the three and nine months ended September 30, 2015 and 2014. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results expected for the full year or for any future period. The December 31, 2014 condensed consolidated balance sheet data in this report was derived from audited consolidated financial statements contained in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2014 (the “2014 Annual Report”), but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”). The interim consolidated financial statements should be read in conjunction with the Consolidated Financial Statements and the Notes to Consolidated Financial Statements filed with the Securities and Exchange Commission (“SEC”) in the 2014 Annual Report. The Partnership’s business has historically been highly seasonal, reflecting the general pattern of peak harvest and sales of macadamia nuts during the fourth quarter. Commencing in 2015, more than 70 percent of nuts harvested will be inventoried and used in its branded products segment and sold throughout the year which will reduce seasonality.

Note 2 - Consolidation

Note 2 - Consolidation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	(2) CONSOLIDATION The consolidated financial statements include the accounts of the Partnership and its subsidiaries. All significant intercompany balances and transactions have been eliminated.

Note 3 - Reclassification of Pr

Note 3 - Reclassification of Prior Year Presentation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Reclassifications [Text Block]	(3) RECLASSIFICATION OF PRIOR YEAR PRESENTATION Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations. In the fourth quarter of 2014, the Partnership concluded that it was appropriate to classify certain promotional and reclamation costs as a reduction to revenue. Previously, these similar costs had been recorded in selling expenses. Accordingly, the Partnership has revised the classification to report these costs as a reduction to revenue. For the three and nine months ended September 30, 2014, $125,000 and $280,000, respectively, of total promotional and reclamation costs were previously included in selling expenses.

Note 4 - New Accounting Standar

Note 4 - New Accounting Standards	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	(4) NEW ACCOUNTING STANDARDS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard becomes effective for the Partnership on January 1, 2017. Early adoption is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. Recent tentative decisions by the FASB may delay the effective date of this ASU and some of its other provisions. The Partnership is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Partnership has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In April 2015, the FASB issued ASU 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for fiscal years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is not expected to have a material impact on the Partnership’s condensed consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern: Disclosures about an Entity’s Ability to Continue as a Going Concern.” The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. The new guidance is effective for annual periods ending after December 15, 2016, and interim periods thereafter. The Partnership is currently evaluating the impact of the adoption of ASU No. 2014-15 on its consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”). The amendments in ASU 2015-02 change the analysis that reporting entity must perform to determine whether it should consolidate certain types of legal entities. The amendments in ASU 2015-02 are effective for public business entities for fiscal years beginning after December 15, 2015. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. A reporting entity may apply the amendments in ASU 2015-02 using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. A reporting entity also may apply the amendments retrospectively. ASU 2015-02 is not expected to have a material impact on our consolidated financial statements.

Note 5 - Segment Information

Note 5 - Segment Information	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	(5) SEGMENT INFORMATION The Partnership’s two reportable segments, orchards and branded products, are distinct business enterprises that have different products and services, customers and regulatory environment. Both segments are organized on the basis of revenues and assets. The orchards segment derives its revenues from the sale of Wet-In-Shell macadamia nuts, sale of Dry-In-Shell macadamia nuts, sale of macadamia nut kernel to Royal, revenues from contract farming, and orchard lease income. The branded products segment derives its revenues from the sale of branded macadamia nut products and bulk macadamia nut kernel by Royal. Management evaluates the performance of each segment on the basis of operating income and topline growth. The Partnership accounts for intersegment sales and transfers at cost, and such transactions are eliminated in consolidation. The following tables summarize each reportable segment’s revenues, operating income or loss, assets and other information as of and for the three and nine months ended September 30, 2015 and 2014. Due to the seasonality of crop patterns and the timing of nut purchase contract fulfillment, interim results are not necessarily indicative of annual performance. Three Months Ended September 30, 2015 (in thousands) Orchards Branded Consolidation/ Total Revenues (1) External customers $ 1,129 $ 3,557 (2) $ — $ 4,686 Intersegment revenue 2,252 — (2,252 ) — Total revenue $ 3,381 $ 3,557 $ (2,252 ) $ 4,686 Operating income (loss) $ (27 ) $ 8 $ (21 ) $ (40 ) Depreciation and amortization $ 690 $ 9 $ — $ 699 Capital expenditures $ 1,422 $ 21 $ — $ 1,443 Segment assets $ 69,691 $ 4,642 $ (10,575 ) $ 63,758 Three Months Ended September 30, 2014 Orchards Branded Consolidation/ Total Revenues (1) External customers $ 3,918 $ 994 (2) $ — $ 4,912 Intersegment revenue 433 — (433 ) — Total revenue $ 4,351 $ 994 $ (433 ) $ 4,912 Operating income (loss) $ (581 ) $ (779 ) $ 143 $ (1,217 ) Depreciation and amortization $ 740 $ 5 $ — $ 745 Capital expenditures $ 949 $ 86 $ — $ 1,035 Segment assets $ 55,877 $ 3,881 $ (7,612 ) $ 52,146 Nine Months Ended September 30, 2015 (in thousands) Orchards Branded Consolidation/ Total Revenues (1) External customers $ 4,829 $ 8,419 (2) $ — $ 13,248 Intersegment revenue 8,428 — (8,428 ) — Total revenue $ 13,257 $ 8,419 $ (8,428 ) $ 13,248 Operating income (loss) $ 1,453 $ (705 ) $ (725 ) $ 23 Depreciation and amortization $ 1,431 $ 47 $ — $ 1,478 Capital expenditures $ 11,053 $ 77 $ — $ 11,130 Segment assets $ 69,691 $ 4,642 $ (10,575 ) $ 63,758 Nine Months Ended September 30, 2014 (in thousands) Orchards Branded Consolidation/ Total Revenues (1) External customers $ 6,173 $ 4,616 (2) $ — $ 10,789 Intersegment revenue 3,234 — (3,234 ) — Total revenue $ 9,407 $ 4,616 $ (3,234 ) $ 10,789 Operating income (loss) $ (775 ) $ (1,909 ) $ 320 $ (2,364 ) Depreciation and amortization $ 1,237 $ 13 $ — $ 1,250 Capital expenditures $ 2,136 $ 129 $ — $ 2,265 Segment assets $ 55,877 $ 3,881 $ (7,612 ) $ 52,146 (1) All revenues are from sources within the United States of America, Canada and Asia. (2) Branded products revenue is reported net of slotting fees, trade discounts and promotional allowances.

Note 6 - Inventories

Note 6 - Inventories	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	(6) INVENTORIES Inventories consisted of the following (in thousands): September 30, December 31, 2015 2014 Nut-in-Shell $ 356 $ 463 Dry-in-Shell 2,394 2,251 Macadamia nut kernel 2,311 755 Finished goods 643 740 Farming supplies 266 252 Packaging supplies and ingredients 326 327 Allowance for shrink and obsolescence (6 ) (75 ) Total $ 6,290 $ 4,713

Note 7 - Land, Orchards, and Eq

Note 7 - Land, Orchards, and Equipment	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	(7) LAND, ORCHARDS AND EQUIPMENT Land, orchards and equipment, stated at cost, consisted of the following (in thousands): September 30, December 31, 2015 2014 Land $ 10,745 $ 8,884 Improvements 2,016 2,016 Machinery and equipment 8,652 8,489 Irrigation well and equipment 2,592 2,592 Producing orchards 76,073 69,749 Construction work-in-progress 2,804 241 Land, orchards and equipment, gross 102,882 91,971 Less accumulated depreciation and amortization 51,497 49,653 Land, orchards and equipment, net $ 51,385 $ 42,318

Note 8 - Deferred Farming Costs

Note 8 - Deferred Farming Costs	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Deferred Costs Capitalized And Inventory Disclosure [Text Block]	(8) DEFERRED FARMING COSTS Orchard costs (e.g., irrigation, fertilizer and pruning) related to nuts sold under nut purchase contracts and services provided under farming contracts were expensed to cost of revenues based on management’s estimate of the costs expected to be incurred to produce macadamia nuts sold during the interim reporting period, with the difference between costs incurred-to-date and costs expensed-to-date reported on the consolidated balance sheet as deferred farming costs. Deferred farming costs historically accumulate during the first and second quarter of the year and are expensed over the remainder of the year. With the expiration of the final non-IASCO nut purchase contract in December 2014 and the Partnership’s retention of the harvested macadamia nuts in inventory, a significant portion of incurred farming costs are now captured in the inventory asset, and expensed to cost of revenues when the inventory is sold.

Note 9 - Income Taxes

Note 9 - Income Taxes	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	(9) INCOME TAXES The Partnership is subject to a gross income tax as a result of its election to continue to be taxed as a partnership rather than as a corporation, as allowed by the Taxpayer Relief Act of 1997. This tax is calculated at 3.5% on partnership gross profit. Royal is subject to taxation as a C corporation at the current federal tax rate of 34% and 8.34% blended state tax rate on the corporation’s taxable income (loss). As a result of the cumulative tax losses of Royal, the balance of the Partnership’s deferred tax asset on Royal’s net operating loss carry-forwards at September 30, 2015, was approximately $2.7 million, against which the Partnership has recorded a valuation allowance equal to 100% of the deferred tax asset due to the uncertainty regarding future realization.

Note 10 - Debt

Note 10 - Debt	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	( 10 ) DEBT As of the indicated dates, the Partnership had the following short and long-term debt outstanding (in thousands): September 30, 2015 December 31, 2014 Short-Term Debt 2015 Bridge Loan (due 2016) (1) $ 2,835 $ — Long-Term Debt Revolving Credit Facility (due 2017) $ 1,000 $ — 2010 Term Loan (due 2020) 5,075 5,775 2015 6-Year Term Loan (due 2021) 4,886 — 2015 20-Year Term Loan (due 2045) 5,265 — Other 23 — Total principal amount of long-term debt 16,249 5,775 Less: current portion of long-term debt 2,202 1,050 Total long-term debt outstanding $ 14,047 $ 4,725 _______________________ (1) Maturity date for the 2015 Bridge Loan may be earlier than 2016. See description of the 2015 Bridge Loan below. The following table summarizes the Partnership’s principal maturities of its debt (in thousands): Payments Due by Period Total 2015 (1) 2016 2017 2018 2019 Remaining Debt $ 19,084 $ 485 $ 5,037 $ 3,194 $ 2,188 $ 2,188 $ 5,992 ________________________ (1) For remainder of 2015. Credit Agreement with AgCredit PCA Pursuant to the Fourth Amended and Restated Credit Agreement, dated July 15, 2010 (as amended, the “Prior PCA Credit Agreement”), by and between the Partnership and the Partnership’s wholly owned subsidiary Royal, as the borrowers, and American AgCredit, PCA, as lender (“AgCredit PCA”), the Partnership had a revolving credit facility for $5 million (the “Revolving Credit Facility”) and an existing term loan of $10.5 million dollars (the “2010 Term Loan”). The Prior PCA Credit Agreement was amended on various dates in 2011 through February 27, 2015, to extend the maturity date of the Revolving Credit Facility. On March 27, 2015, the Partnership and each of its wholly owned subsidiaries RHR, Royal and RHS, as the borrowers (the “Borrowers”), and AgCredit PCA, as lender and as agent for such other persons who may be added as lenders from time to time, entered into an Amended and Restated Credit Agreement that amended and restated the terms of the Partnership’s outstanding borrowings with AgCredit PCA (as amended by the First PCA Credit Agreement Amendment, the Second PCA Credit Agreement Amendment and the Third PCA Credit Agreement Amendment (each defined below), the “Amended PCA Credit Agreement”) The Amended PCA Credit Agreement (i) increased the amount of the Revolving Credit Facility from $5 million to $9 million and extended its maturity from March 31, 2015, to March 27, 2017; (ii) reduced the interest rate of the 2010 Term Loan; and (iii) added a new term loan of $5.25 million that matures on March 27, 2021 (the “2015 6-Year Term Loan”). Pursuant to the Amended PCA Credit Agreement, the Revolving Credit Facility, the 2010 Term Loan, the 2015 6-Year Term Loan and the 2015 Bridge Loan (as defined below) are collateralized by all of the personal and real property assets of the Borrowers. The Amended PCA Credit Agreement contains certain restrictions associated with partner distributions, further indebtedness, sales of assets, and maintenance of certain financial covenants. In connection with the Becker Property Acquisition (defined in Note 16 below), the Partnership and its subsidiaries entered into the First Amendment to Amended and Restated Credit Agreement with AgCredit PCA, effective as of June 15, 2015 (the “First PCA Credit Agreement Amendment”). On June 29, 2015, the Partnership and its subsidiaries entered into a Second Amendment to Amended and Restated Credit Agreement with AgCredit PCA (the “Second PCA Credit Agreement Amendment”) to delete a financial covenant for the quarter ended June 30, 2015. On September 22, 2015, the Borrowers and its subsidiaries entered into a Third Amendment to Amended and Restated Credit Agreement with AgCredit PCA (the “Third PCA Credit Agreement Amendment”) to delete a financial covenant for the quarter ended September 30, 2015. As of December 31, 2014, the Partnership was not in compliance with the terms and conditions of the Prior PCA Credit Agreement, which non-compliance was waived by AgCredit PCA Revolving Credit Facility . The Wall Street Journal As of September 30, 2015, the outstanding balance on the Revolving Credit Facility was $1.000 million, compared with no balance outstanding as of December 31, 2014. 2010 Term Loan . 2015 6- Year Term Loan . 2015 Bridge Loan. The Wall Street Journal , 2015 20-Year Term Loan Also in connection with the Becker Property Acquisition, the Partnership entered into a Credit Agreement, effective June 15, 2015 (the “FLCA Credit Agreement”), with American AgCredit, FLCA (“Ag Credit FCLA”), providing for a $5.265 million, 20-year term loan (“2015 20-Year Term Loan”). The 2015 20-Year Term Loan bears interest at a fixed rate of 5.29% per annum and requires quarterly payments, with fixed principal reductions, over the term. The 2015 20-Year Term Loan matures on July 1, 2035. The Partnership used the proceeds of the 2015 20-Year Term Loan for the Becker Property Acquisition. The 2015 20-Year Term Loan is secured by a mortgage on the properties acquired in the Becker Property Acquisition. As of September 30, 2015, the outstanding balance on the 2015 20-Year Term Loan was $5.265 million.

Note 11 - Fair Value Measuremen

Note 11 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	(11) FAIR VALUE MEASUREMENTS The fair value of the Revolving Credit Facility is approximately the carrying value due to the variability of the interest rate and frequency that the interest rate resets on the line of credit. The estimated fair value of the Partnership’s fixed-rate bridge loan and term loans was determined using a discounted cash flow model using an estimated market interest rate of 4.00% in 2015 and 4.25% in 2014 with similar terms and remaining maturities to that of the current financial instruments. The Partnership has not considered lender fees in determining the estimated fair value. The estimated fair values of the Partnership’s financial instruments are as follows (in thousands): September 30, December 31, 2015 2014 Carrying Fair Carrying Fair Bridge and term loans $ 18,084 $ 18,853 $ 5,775 $ 6,110 Revolving credit facility $ 1,000 $ 1,000 $ - $ - The inputs used in determining the fair value of the bridge and term loans and Revolving Credit Facility are classified as Level 3 within the fair value measurement hierarchy.

Note 12 - Partners' Capital

Note 12 - Partners' Capital	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Partners' Capital Notes Disclosure [Text Block]	(12) PARTNERS’ CAPITAL Net income (loss) per Class A Unit is calculated by dividing 100% of Partnership net income (loss) by the weighted average number of Class A Units outstanding for the period.

Note 13 - Pension Plan

Note 13 - Pension Plan	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	( 13) PENSION PLAN The Partnership sponsors a defined benefit pension plan covering employees who are members of a union bargaining unit. The Partnership’s funding policy is to contribute an amount to the plan sufficient to meet the minimum funding requirements set forth in the Employee Retirement Income Security Act of 1974. The components of net periodic pension cost consisted of the following (in thousands): Pension Cost Three Months Ended September 30, Nine Months Ended September 30, 201 5 201 4 201 5 201 4 Service cost $ 17 $ 15 $ 51 $ 46 Interest cost 15 15 46 46 Expected return on assets (17 ) (16 ) (51 ) (49 ) Amortization of net actuarial loss and prior service cost 2 2 5 5 Net periodic pension cost $ 17 $ 16 $ 51 $ 48

Note 14 - Intermittent Severanc

Note 14 - Intermittent Severance Plan	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Postemployment Benefits Disclosure [Text Block]	(14) INTERMITTENT SEVERANCE PLAN The Partnership sponsors a defined intermittent severance benefit plan covering employees who are members of a union bargaining unit and not covered by the defined benefit pension plan. Payment of the severance benefit is made when covered employees cease employment with the Partnership under certain terms and conditions as defined in the union bargaining agreement. The components of net periodic intermittent severance cost consisted of the following (in thousands): Intermittent Severance Plan Cost Three Months Ended September 30, Nine Months Ended September 30, 201 5 201 4 201 5 201 4 Service cost $ 5 $ 4 $ 15 $ 13 Interest cost 3 4 9 12 Net periodic intermittent severance cost $ 8 $ 8 $ 24 $ 25

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 15 ) COMMITMENTS AND CONTINGENCIES The Partnership is involved in various commercial claims, litigation and other legal proceedings that arise in the ordinary course of its business. The Partnership assesses these claims in an effort to determine the degree of probability and loss for potential accrual in its financial statements. In accordance with Accounting Standards Codification 450, Contingencies, an accrual is recorded for a material loss contingency when its occurrence is probable and damages are reasonably estimable based on the anticipated most likely outcome or the minimum amount within a range of possible outcomes. Because legal proceedings are inherently unpredictable, and unfavorable resolutions can occur, assessing contingencies is highly subjective and requires judgments about uncertain future events. When evaluating contingencies, the Partnership may be unable to provide a meaningful estimate of loss or recovery due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, the ongoing discovery and/or development of information important to the matter. The Partnership’s material loss contingency is discussed below. The Partnership is unable to estimate reasonably possible losses (in excess of recorded accruals, if any) for this contingency for the reasons set forth above. Olson Trust Matter

Note 16 - Acquisition

Note 16 - Acquisition	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Business Combination Disclosure [Text Block]	(16) ACQUISITION On June 16, 2015, pursuant to an Acquisition Agreement dated as of April 13, 2015, between the Partnership and Geyser Asset Management, Inc., a Delaware corporation, as agent for the tenant in common investors (the “Acquisition Agreement”), the Partnership acquired approximately 736 acres of land located in Keaau, Hawaii, for $8.1 million (the “Becker Property Acquisition”). As part of the transaction, the Partnership acquired certain rights, easements, and benefits appurtenant to the Property, including all improvements, 641 acres of macadamia nut trees, and windbreak trees. The Partnership funded the Becker Property Acquisition with $5.265 million in proceeds from the 2015 20-Year Term Loan and $2.835 million in proceeds from the 2015 Bridge Loan. Pursuant to the Acquisition Agreement, the Partnership assumed five leases, which require the lessees of the Property to pay the Partnership rent in the amount of $272,538 for the period from July 1, through December 31, 2015, based on the annual base rent specified in the leases of $545,076 through December 31, 2015. The annual base rent increases to $601,809 effective January 1, 2016 through December 31, 2021, the expiration date of the leases. The rent is required to be paid to the Partnership in equal quarterly installments, including general excise tax.

Note 5 - Segment Information (T

Note 5 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, 2015 (in thousands) Orchards Branded Consolidation/ Total Revenues (1) External customers $ 1,129 $ 3,557 (2) $ — $ 4,686 Intersegment revenue 2,252 — (2,252 ) — Total revenue $ 3,381 $ 3,557 $ (2,252 ) $ 4,686 Operating income (loss) $ (27 ) $ 8 $ (21 ) $ (40 ) Depreciation and amortization $ 690 $ 9 $ — $ 699 Capital expenditures $ 1,422 $ 21 $ — $ 1,443 Segment assets $ 69,691 $ 4,642 $ (10,575 ) $ 63,758 Three Months Ended September 30, 2014 Orchards Branded Consolidation/ Total Revenues (1) External customers $ 3,918 $ 994 (2) $ — $ 4,912 Intersegment revenue 433 — (433 ) — Total revenue $ 4,351 $ 994 $ (433 ) $ 4,912 Operating income (loss) $ (581 ) $ (779 ) $ 143 $ (1,217 ) Depreciation and amortization $ 740 $ 5 $ — $ 745 Capital expenditures $ 949 $ 86 $ — $ 1,035 Segment assets $ 55,877 $ 3,881 $ (7,612 ) $ 52,146 Nine Months Ended September 30, 2015 (in thousands) Orchards Branded Consolidation/ Total Revenues (1) External customers $ 4,829 $ 8,419 (2) $ — $ 13,248 Intersegment revenue 8,428 — (8,428 ) — Total revenue $ 13,257 $ 8,419 $ (8,428 ) $ 13,248 Operating income (loss) $ 1,453 $ (705 ) $ (725 ) $ 23 Depreciation and amortization $ 1,431 $ 47 $ — $ 1,478 Capital expenditures $ 11,053 $ 77 $ — $ 11,130 Segment assets $ 69,691 $ 4,642 $ (10,575 ) $ 63,758 Nine Months Ended September 30, 2014 (in thousands) Orchards Branded Consolidation/ Total Revenues (1) External customers $ 6,173 $ 4,616 (2) $ — $ 10,789 Intersegment revenue 3,234 — (3,234 ) — Total revenue $ 9,407 $ 4,616 $ (3,234 ) $ 10,789 Operating income (loss) $ (775 ) $ (1,909 ) $ 320 $ (2,364 ) Depreciation and amortization $ 1,237 $ 13 $ — $ 1,250 Capital expenditures $ 2,136 $ 129 $ — $ 2,265 Segment assets $ 55,877 $ 3,881 $ (7,612 ) $ 52,146

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2015 2014 Nut-in-Shell $ 356 $ 463 Dry-in-Shell 2,394 2,251 Macadamia nut kernel 2,311 755 Finished goods 643 740 Farming supplies 266 252 Packaging supplies and ingredients 326 327 Allowance for shrink and obsolescence (6 ) (75 ) Total $ 6,290 $ 4,713

Note 7 - Land, Orchards, and 27

Note 7 - Land, Orchards, and Equipment (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2015 2014 Land $ 10,745 $ 8,884 Improvements 2,016 2,016 Machinery and equipment 8,652 8,489 Irrigation well and equipment 2,592 2,592 Producing orchards 76,073 69,749 Construction work-in-progress 2,804 241 Land, orchards and equipment, gross 102,882 91,971 Less accumulated depreciation and amortization 51,497 49,653 Land, orchards and equipment, net $ 51,385 $ 42,318

Note 10 - Debt (Tables)

Note 10 - Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Debt [Table Text Block]	September 30, 2015 December 31, 2014 Short-Term Debt 2015 Bridge Loan (due 2016) (1) $ 2,835 $ — Long-Term Debt Revolving Credit Facility (due 2017) $ 1,000 $ — 2010 Term Loan (due 2020) 5,075 5,775 2015 6-Year Term Loan (due 2021) 4,886 — 2015 20-Year Term Loan (due 2045) 5,265 — Other 23 — Total principal amount of long-term debt 16,249 5,775 Less: current portion of long-term debt 2,202 1,050 Total long-term debt outstanding $ 14,047 $ 4,725
Schedule of Maturities of Long-term Debt [Table Text Block]	Payments Due by Period Total 2015 (1) 2016 2017 2018 2019 Remaining Debt $ 19,084 $ 485 $ 5,037 $ 3,194 $ 2,188 $ 2,188 $ 5,992

Note 11 - Fair Value Measurem29

Note 11 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	September 30, December 31, 2015 2014 Carrying Fair Carrying Fair Bridge and term loans $ 18,084 $ 18,853 $ 5,775 $ 6,110 Revolving credit facility $ 1,000 $ 1,000 $ - $ -

Note 13 - Pension Plan (Tables)

Note 13 - Pension Plan (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Pension Cost Three Months Ended September 30, Nine Months Ended September 30, 201 5 201 4 201 5 201 4 Service cost $ 17 $ 15 $ 51 $ 46 Interest cost 15 15 46 46 Expected return on assets (17 ) (16 ) (51 ) (49 ) Amortization of net actuarial loss and prior service cost 2 2 5 5 Net periodic pension cost $ 17 $ 16 $ 51 $ 48

Note 14 - Intermittent Severa31

Note 14 - Intermittent Severance Plan (Tables)	9 Months Ended
	Sep. 30, 2015
Intermittent Severance Plan [Member]
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Intermittent Severance Plan Cost Three Months Ended September 30, Nine Months Ended September 30, 201 5 201 4 201 5 201 4 Service cost $ 5 $ 4 $ 15 $ 13 Interest cost 3 4 9 12 Net periodic intermittent severance cost $ 8 $ 8 $ 24 $ 25
Schedule of Net Benefit Costs [Table Text Block]	Pension Cost Three Months Ended September 30, Nine Months Ended September 30, 201 5 201 4 201 5 201 4 Service cost $ 17 $ 15 $ 51 $ 46 Interest cost 15 15 46 46 Expected return on assets (17 ) (16 ) (51 ) (49 ) Amortization of net actuarial loss and prior service cost 2 2 5 5 Net periodic pension cost $ 17 $ 16 $ 51 $ 48

Supplemental Disclosure of No32

Supplemental Disclosure of Non-cash Activity: (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Depreciation, Depletion and Amortization, Nonproduction	$ 583,000	$ 556,000
Offering Costs Netted Against Offering Proceeds		$ 190,000

Note 3 - Reclassification of 33

Note 3 - Reclassification of Prior Year Presentation (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Selling Expenses [Member]
Prior Period Reclassification Adjustment	$ 125,000	$ 280,000

Note 5 - Segment Information (D

Note 5 - Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2015
Number of Reportable Segments	2

Note 5 - Reportable Segments (D

Note 5 - Reportable Segments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Orchards [Member] | Intersegment Eliminations [Member]
Revenues1
Revenues	$ 2,252,000	$ 433,000	$ 8,428,000	$ 3,234,000
Orchards [Member] | Operating Segments [Member]
Revenues1
Revenues	3,381,000	4,351,000	13,257,000	9,407,000
Orchards [Member]
Revenues1
Revenues	1,129,000	3,918,000	4,829,000	6,173,000
Operating income (loss)	(27,000)	(581,000)	1,453,000	(775,000)
Depreciation and amortization	690,000	740,000	1,431,000	1,237,000
Capital expenditures	1,422,000	949,000	11,053,000	2,136,000
Segment assets	$ 69,691,000	$ 55,877,000	$ 69,691,000	$ 55,877,000
Branded Products [Member] | Intersegment Eliminations [Member]
Revenues1
Revenues
Branded Products [Member] | Operating Segments [Member]
Revenues1
Revenues	$ 3,557,000	$ 994,000	$ 8,419,000	$ 4,616,000
Branded Products [Member]
Revenues1
Revenues	3,557,000	994,000	8,419,000	4,616,000
Operating income (loss)	8,000	(779,000)	(705,000)	(1,909,000)
Depreciation and amortization	9,000	5,000	47,000	13,000
Capital expenditures	21,000	86,000	77,000	129,000
Segment assets	4,642,000	3,881,000	4,642,000	3,881,000
Consolidation Reconciliation [Member] | Intersegment Eliminations [Member]
Revenues1
Revenues	(2,252,000)	(433,000)	(8,428,000)	(3,234,000)
Consolidation Reconciliation [Member] | Operating Segments [Member]
Revenues1
Revenues	$ (2,252,000)	$ (433,000)	$ (8,428,000)	$ (3,234,000)
Consolidation Reconciliation [Member]
Revenues1
Revenues
Operating income (loss)	$ (21,000)	$ 143,000	$ (725,000)	$ 320,000
Depreciation and amortization
Capital expenditures
Segment assets	$ (10,575,000)	$ (7,612,000)	$ (10,575,000)	$ (7,612,000)
Intersegment Eliminations [Member]
Revenues1
Revenues
Operating Segments [Member]
Revenues1
Revenues	$ 4,686,000	$ 4,912,000	$ 13,248,000	$ 10,789,000
Revenues	4,686,000	4,912,000	13,248,000	10,789,000
Operating income (loss)	(40,000)	(1,217,000)	23,000	(2,364,000)
Depreciation and amortization	699,000	745,000	1,478,000	1,250,000
Capital expenditures	1,443,000	1,035,000	11,130,000	2,265,000
Segment assets	$ 63,758,000	$ 52,146,000	$ 63,758,000	$ 52,146,000

Note 6 - Summary of Inventories

Note 6 - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Nut In Shell [Member]
Nut-in-Shell	$ 356	$ 463
Dry In Shell [Member]
Nut-in-Shell	2,394	2,251
Macadamia nut kernel	2,311	755
Finished goods	643	740
Farming supplies	266	252
Packaging supplies and ingredients	326	327
Allowance for shrink and obsolescence	(6)	(75)
Total	$ 6,290	$ 4,713

Note 7 - Land, Orchards, and 37

Note 7 - Land, Orchards, and Equipment, Stated at Cost (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Land [Member]
Land, orchards and equipment, gross	$ 10,745	$ 8,884
Land Improvements [Member]
Land, orchards and equipment, gross	2,016	2,016
Machinery and Equipment [Member]
Land, orchards and equipment, gross	8,652	8,489
Irrigation Well And Equipment [Member]
Land, orchards and equipment, gross	2,592	2,592
Producing Orchards [Member]
Land, orchards and equipment, gross	76,073	69,749
Construction in Progress [Member]
Land, orchards and equipment, gross	2,804	241
Land, orchards and equipment, gross	102,882	91,971
Less accumulated depreciation and amortization	51,497	49,653
Land, orchards and equipment, net	$ 51,385	$ 42,318

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Royal Hawaiian Macadamia Nut Inc [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	34.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	8.34%
Deferred Tax Assets, Gross	$ 2.7
Valuation Allowance As Percentage Of Deferred Tax Asset	100.00%
Gross Income Tax Rate For Partnership	3.50%

Note 10 - Debt (Details Textual

Note 10 - Debt (Details Textual) - USD ($)	Jun. 15, 2015	Sep. 30, 2015	Jun. 29, 2015	Mar. 31, 2015	Mar. 27, 2015	Mar. 26, 2015	Dec. 31, 2014
Revolving Credit Facility [Member] | American Ag Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 9,000,000	$ 5,000,000
Debt Instrument, Interest Rate, Stated Percentage			6.00%	6.50%
Percentage In Excess Of Federal Funds Rate		0.50%
Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility, Commitment Fee Percentage		0.375%
Revolving Credit Facility [Member]
Long-term Line of Credit		$ 1,000,000					$ 0
Line of Credit Facility, Interest Rate at Period End		4.00%
American Ag Credit [Member] | The 2010 Term Loan [Member]
Long-term Debt, Gross					$ 10,500,000
American Ag Credit [Member] | The 2015 6-year Term Loan [Member] | Second Term Loan [Member]
Long-term Debt		$ 4,886,000
Debt Instrument, Interest Rate, Stated Percentage		4.01%			4.01%
Long-term Debt, Gross					$ 5,250,000
American AgCredit, FLCA [Member] | The 2015 20-Year Term Loan [Member]
Long-term Debt		$ 5,265,000
Debt Instrument, Interest Rate, Stated Percentage	5.29%
Long-term Debt, Gross	$ 5,265,000
AgCredit [Member] | Bridge Loan [Member] | Base Rate [Member]
Percentage In Excess Of Federal Funds Rate	0.50%
Debt Instrument, Basis Spread on Variable Rate	0.75%
AgCredit [Member] | Bridge Loan [Member]
Long-term Debt, Gross	$ 2,835,000
Short-term Debt		2,835,000
The 2010 Term Loan [Member]
Long-term Debt		5,075,000					$ 5,775,000
The 2015 6-year Term Loan [Member]
Long-term Debt		4,886,000
The 2015 20-Year Term Loan [Member]
Long-term Debt		5,265,000
Long-term Line of Credit		1,000,000
Long-term Debt		$ 16,249,000					$ 5,775,000

Note 10 - Short and Long-Term D

Note 10 - Short and Long-Term Debt Oustanding (Details) - USD ($)		Sep. 30, 2015	Dec. 31, 2014
Bridge Loan [Member]
Short-Term Debt
2015 Bridge Loan (due 2016) (1)	[1]	$ 2,835,000
Excluding Bridge Loan [Member]
Long-Term Debt
Less: current portion of long-term debt		2,202,000	$ 1,050,000
Line of Credit [Member]
Long-Term Debt
Revolving Credit Facility (due 2017)		1,000,000
Total principal amount of long-term debt		1,000,000
The 2010 Term Loan [Member]
Long-Term Debt
Revolving Credit Facility (due 2017)		5,075,000	$ 5,775,000
Total principal amount of long-term debt		5,075,000	$ 5,775,000
The 2015 6-year Term Loan [Member]
Long-Term Debt
Revolving Credit Facility (due 2017)		4,886,000
Total principal amount of long-term debt		4,886,000
The 2015 20-Year Term Loan [Member]
Long-Term Debt
Revolving Credit Facility (due 2017)		5,265,000
Total principal amount of long-term debt		5,265,000
BOH [Member]
Long-Term Debt
Revolving Credit Facility (due 2017)		23,000
Total principal amount of long-term debt		23,000
Revolving Credit Facility (due 2017)		16,249,000	$ 5,775,000
Total principal amount of long-term debt		16,249,000	5,775,000
Less: current portion of long-term debt		2,202	1,050
Total long-term debt outstanding		$ 14,047,000	$ 4,725,000
[1]	Maturity date for the 2015 Bridge Loan may be earlier than 2016. See description of the 2015 Bridge Loan below.

Note 10 - Maturities of Long-te

Note 10 - Maturities of Long-term Debt (Details) $ in Thousands	Sep. 30, 2015USD ($)
Debt	$ 19,084
Debt	485	[1]
Debt	5,037
Debt	3,194
Debt	2,188
Debt	2,188
Debt	$ 5,992
[1]	For remainder of year.

Note 11 - Fair Value Measurem42

Note 11 - Fair Value Measurements (Details Textual)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Inputs, Level 3 [Member]
Fair Value Inputs, Discount Rate	4.00%	4.25%

Note 11 - Estimated Fair Values

Note 11 - Estimated Fair Values of Financial Instrument (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Excludes Revolving Credit Facility [Member] | Fair Value, Inputs, Level 3 [Member]
Bridge and term loans	$ 18,853	$ 6,110
Excludes Revolving Credit Facility [Member]
Bridge and term loans	18,084	$ 5,775
Fair Value, Inputs, Level 3 [Member]
Revolving credit facility	1,000
Bridge and term loans	19,084
Long-term Line of Credit	$ 1,000

Note 12 - Partners' Capital (De

Note 12 - Partners' Capital (Details Textual)	9 Months Ended
	Sep. 30, 2015
Percentage Of Net Income Loss Used In Calculation Of Net Income Loss Per Outstanding Limited Partnership Unit	100.00%

Note 13 - Components of Net Per

Note 13 - Components of Net Periodic Benefit Cost (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pension Plan [Member]
Service cost	$ 17,000	$ 15,000	$ 51,000	$ 46,000
Interest cost	15,000	15,000	46,000	46,000
Expected return on assets	(17,000)	(16,000)	(51,000)	(49,000)
Amortization of net actuarial loss and prior service cost	2,000	2,000	5,000	5,000
Net periodic pension cost	17,000	16,000	51,000	48,000
Service cost	5,000	4,000	15,000	13,000
Interest cost	3,000	4,000	9,000	12,000
Amortization of net actuarial loss and prior service cost	(2,000)	(2,000)	(5,000)	(5,000)
Net periodic pension cost	$ 8,000	$ 8,000	$ 24,000	$ 25,000

Note 14 - Components of Net Per

Note 14 - Components of Net Periodic Intermittent Severance Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Service cost	$ 5	$ 4	$ 15	$ 13
Interest cost	3	4	9	12
Net periodic intermittent severance cost	$ 8	$ 8	$ 24	$ 25

Note 16 - Acquisition (Details

Note 16 - Acquisition (Details Textual)	Jun. 16, 2015USD ($)a	Jun. 15, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Geyser Asset Management Inc [Member] | Keaau Hawaii [Member]
Area of Land | a	736
Payments to Acquire Land	$ 8,100,000
Keaau Hawaii [Member] | Land With Macadamia Nut Trees and Windbreak Trees [Member]
Area of Land | a	641
American AgCredit, FLCA [Member] | The 2015 20-Year Term Loan [Member]
Proceeds from Issuance of Long-term Debt		$ 5,265,000
American Ag Credit [Member] | Bridge Loan [Member]
Proceeds from Secured Notes Payable		$ 2,835,000
Keaau Property [Member] | July 1 through December 31, 2015 [Member]
Lessor Leasing Arrangements, Annual Base Rent	$ 272,538
Keaau Property [Member] | Through December 31, 2015 [Member]
Lessor Leasing Arrangements, Annual Base Rent	545,076
Keaau Property [Member] | January 1, 2016 Through December 31, 2021 [Member]
Lessor Leasing Arrangements, Annual Base Rent	$ 601,809
Keaau Property [Member]
Number of Leases Assumed by Lessor	5
Proceeds from Issuance of Long-term Debt			$ 13,378,000