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Property, Buildings and Equipment, Net | 6 Months Ended
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Mar. 31, 2015
Property, Buildings and Equipment, Net [Abstract] |
Property, Buildings and Equipment, Net | Note 3. Property, Buildings and Equipment, Net Property, buildings and equipment consisted of the following at March 31, 2015 and September 30, 2014:
(in thousands) | March 31, 2015 |  | September 30, 2014
Breeding herd | $ | 10,897 |  |  | $ | 11,558 |
Buildings |  | 21,010 |  |  |  | 16,052 |
Citrus trees |  | 242,278 |  |  |  | 66,886 |
Equipment and other facilities |  | 58,412 |  |  |  | 55,696 |
Total depreciable properties |  | 332,597 |  |  |  | 150,192 |
Less accumulated depreciation and depletion |  | (72,158 | ) |  |  | (63,031 | )
Net depreciable properties |  | 260,439 |  |  |  | 87,161 |
Land and land improvements |  | 123,007 |  |  |  | 39,672 |
Net property, buildings and equipment | $ | 383,446 |  |  | $ | 126,833 |
Land Purchase Silver Nip Citrus purchased approximately 1,500 acres of citrus groves that included land, trees and fruit inventory as well as irrigation and other equipment on September 4, 2014. The purchase price was approximately $17,600,000 which was funded through cash plus additional financing of $11,000,000 in term debt (see “Note 7. Long -Term Debt” in the Notes to the Condensed Combined Consolidated Financial Statements (Unaudited)). Land Sale Certain Silver Nip Citrus land with a cost of $2,832,159 was classified as held for sale as of September 30, 2014. It was sold during the six month period ended March 31, 2015 resulting in a gain on sale of assets of $2,926,553. Asset Impairment The Company recorded an impairment loss of approximately $541,000 during the quarter ended March 31, 2015 on property classified as Assets Held for Sale. The Company entered into a sales contract on February 17, 2015, which triggered the impairment of the property based on the negotiated sales price. The property was closed on April 3, 2015 and the Company received approximately $1,509,000 in net sales proceeds.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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