Annual report pursuant to section 13 and 15(d)

Inventories

v2.3.0.11
Inventories
12 Months Ended
Sep. 30, 2011
Inventories [Abstract]  
Inventories

Note 5. Inventories

Inventories consist of the following at September 30, 2011 and 2010:

 

(dollars in thousands)    2011      2010  

Unharvested fruit crop on trees

   $ 14,050       $ 13,164   

Unharvested sugarcane

     7,320         4,641   

Beef cattle

     791         650   

Sod

     —           84   

Other

     212         62   
  

 

 

    

 

 

 

Total inventories

   $ 22,373       $ 18,601   
  

 

 

    

 

 

 

The Company records its inventory at the lower of cost or net realizable value. For the years ended September 30, 2011 and 2010, the Company did not record any adjustments to inventory. During the year ended September 30, 2009, the Company recorded the following net realizable value adjustments to inventory; (i) Unharvested sugarcane totaling $1,286 thousand, (ii) Beef cattle totaling $1,011 thousand; and (iii) Plants and vegetables totaling $658 thousand. All adjustments to inventory resulted from changing market conditions for the respective crops and cattle and were recognized as operating expenses.