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Property and Equipment, Net | 9 Months Ended
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Jun. 30, 2022
Property Plant And Equipment [Abstract] |
Property and Equipment, Net | Note 4. Property and Equipment, Net Property and equipment, net consists of the following at June 30, 2022 and September 30, 2021:
(in thousands) |  | June 30, |  |  | September 30, |
|  | 2022 |  |  | 2021 |
Citrus trees |  | $ | 327,743 |  |  | $ | 320,245 |
Equipment and other facilities |  |  | 58,625 |  |  |  | 57,584 |
Buildings and improvements |  |  | 7,374 |  |  |  | 8,494 |
Total depreciable properties |  |  | 393,742 |  |  |  | 386,323 |
Less: accumulated depreciation and depletion |  |  | (134,084 | ) |  |  | (127,046 | )
Net depreciable properties |  |  | 259,658 |  |  |  | 259,277 |
Land and land improvements |  |  | 113,459 |  |  |  | 113,954 |
Property and equipment, net |  | $ | 373,117 |  |  | $ | 373,231 |
For the nine months ended June 30, 2022 and fiscal year ended September 30, 2021, the Company did no t record any impairments. In connection with the State of Florida’s condemnation of a certain portion of Alico’s property in October 2021, the Company received approximately $1,450,000, all of which was recognized as a gain. On October 30, 2020, the Company purchased approximately 3,280 gross citrus acres located in Hendry County for a purchase price of approximately $18,230,000. This acquisition complements the Company’s existing citrus acres as these acres are located adjacent to existing groves in Hendry County. This purchase was part of a like-kind exchange transaction, which allowed the Company to defer taxes relating to the sale of certain sections of the Alico Ranch.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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