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Property and Equipment, Net | 6 Months Ended
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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.

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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 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 Reference 2: 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=64827811&loc=d3e1361-107760 Reference 3: 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=64862545&loc=d3e2921-110230 Reference 4: 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 + Details
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