XML 58 R38.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2016
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Tax | The provision for income tax for the years ended September 30, 2016, 2015 and 2014 consists of the following:
(in thousands) | Fiscal Year Ended September 30,
| 2016 |  | 2015 |  | 2014
Current: |  |  |  |  |  |  |  |
Federal income tax | $ | 244 |  |  | $ | (1,348 | ) |  | $ | 4,035 |
State income tax | — |  |  | (98 | ) |  | 543 |
Total current | 244 |  |  | (1,446 | ) |  | 4,578 |
Deferred: |  |  |  |  |  |  |  |
Federal income tax | 4,538 |  |  | 10,432 |  |  | 6,160 |
State income tax | 739 |  |  | 1,919 |  |  | 645 |
Total deferred | 5,277 |  |  | 12,351 |  |  | 6,805 |
Total provision for income taxes | $ | 5,521 |  |  | $ | 10,905 |  |  | $ | 11,383 |
Schedule of Income Tax Provision Attributable to Income from Continuing Operations | Income tax provision (benefit) attributable to income from continuing operations differed from the amount computed by applying the statutory federal income tax rate of 35% to pre-tax income as a result of the following:
(in thousands) | Fiscal Year Ended September 30,
| 2016 |  | 2015 |  | 2014
Tax at the statutory federal rate | $ | 4,382 |  |  | $ | 9,335 |  |  | $ | 8,117 |
Increase (decrease) resulting from: |  |  |  |  |  |  |  |
State income taxes, net of federal benefit | 457 |  |  | 1,279 |  |  | 183 |
Permanent and other reconciling items, net | 773 |  |  | 280 |  |  | 3,083 |
Other | (91 | ) |  | 11 |  |  | — |
Total provision for income taxes | $ | 5,521 |  |  | $ | 10,905 |  |  | $ | 11,383 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of September 30, 2016, and 2015 are presented below:
(in thousands) | September 30,
| 2016 |  | 2015
Deferred tax assets: |  |  |  |  |
Deferred retirement benefits | $ | 1,620 |  |  | $ | 1,595 |
Inventories | 912 |  |  | 230 |
Alico-Agri, Ltd. outside basis differences | 474 |  |  | 467 |
Goodwill | 36,217 |  |  | 39,081 |
Deferred gain recognition | 10,964 |  |  | 11,234 |
Capital loss carry forward | 9,702 |  |  | 12,804 |
Alternative minimum tax credits | 197 |  |  | — |
Net operating loss | 5,844 |  |  | 7,141 |
Other | 765 |  |  | 200 |
Total deferred tax assets | 66,695 |  |  | 72,752 |
Deferred tax liabilities: |  |  |
Revenue recognized from citrus and sugarcane | 282 |  |  | 223 |
Property and equipment | 95,149 |  |  | 93,849 |
Accrual-to-cash method | 1,908 |  |  | 3,905 |
Prepaid insurance | 331 |  |  | 256 |
Investment in Magnolia | 82 |  |  | 299 |
Total deferred tax liabilities | 97,752 |  |  | 98,532 |
Net deferred income tax liability | $ | (31,057 | ) |  | $ | (25,780 | )
Schedule of Deferred Tax Liabilities, Current and Non-current | Deferred taxes are included in the accompanying Consolidated and Combined Balance Sheets are as follows:
(in thousands) | September 30,
| 2016 |  | 2015
Deferred tax liabilities, current | $ | 53 |  |  | $ | 151 |
Deferred tax liabilities, non-current | 31,004 |  |  | 25,629 |
Total deferred tax liabilities | $ | 31,057 |  |  | $ | 25,780 |

X
- Definition Schedule of Deferred Tax Liabilities, Current and Non-current [Table Text Block] + References No definition available. + Details
Name: | alco_ScheduleofDeferredTaxLiabilitiesCurrentandNoncurrentTableTextBlock
Namespace Prefix: | alco_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration