Segment Reporting

9 Months Ended

May 31, 2012

Segment Reporting

Segment Reporting

Note 13: Segment Reporting

The Company has identified two reportable segments: Sugar and Leasing.  The sugar segment is engaged primarily in the production and marketing of sugar from sugarbeets.  It also sells agri-products and sugarbeet seed.  The leasing segment is engaged in the leasing of a corn wet-milling plant used in the production of high-fructose corn syrup sweetener.  The segments are managed separately.  There are no inter-segment sales.  The leasing segment has a major customer that accounts for all of that segment’s revenue.

Summarized financial information concerning the Company’s reportable segments for the nine months and three months ended May 31, 2012 and 2011 is shown below:

	For the Nine Months Ended May 31, 2012
(In Thousands)	Sugar			Leasing			Consolidated
Net Revenue from External Customers	$	1,061,205		$	18,579		$	1,079,784
Gross Proceeds	$	842,150		$	10,026		$	852,176
Depreciation and Amortization	$	40,859		$	8,553		$	49,412
Interest Income	$	21		$	—		$	21
Interest Expense	$	5,867		$	1		$	5,868
Income from Equity Method Investees	$	82		$	—		$	82
Other Income/(Expense), Net	$	(13	)	$	(251	)	$	(264	)
Consolidated Net Proceeds	$	543,511		$	9,707		$	553,218
Capital Additions	$	20,506		$	2,154		$	22,660

	For the Nine Months Ended May 31, 2011
(In Thousands)	Sugar			Leasing			Consolidated
Net Revenue from External Customers	$	1,126,562		$	18,069		$	1,144,631
Gross Proceeds	$	1,078,861		$	9,541		$	1,088,402
Depreciation and Amortization	$	43,963		$	8,528		$	52,491
Interest Income	$	111		$	—		$	111
Interest Expense	$	6,657		$	1		$	6,658
Income from Equity Method Investees	$	14		$	—		$	14
Other Income/(Expense), Net	$	(100	)	$	(27	)	$	(127	)
Consolidated Net Proceeds	$	741,072		$	9,450		$	750,522
Capital Additions	$	37,325		$	1,644		$	38,969

	For the Three Months Ended May 31, 2012
(In Thousands)	Sugar			Leasing			Consolidated
Net Revenue from External Customers	$	365,987		$	6,550		$	372,537
Gross Proceeds	$	209,842		$	3,707		$	213,549
Depreciation and Amortization	$	12,009		$	2,843		$	14,852
Interest Income	$	2		$	—		$	2
Interest Expense	$	1,986		$	1		$	1,987
Income from Equity Method Investees	$	19		$	—		$	19
Other Income/(Expense), Net	$	(16	)	$	(251	)	$	(267	)
Consolidated Net Proceeds	$	147,735		$	3,430		$	151,165
Capital Additions	$	7,770		$	1,075		$	8,845

	For the Three Months Ended May 31, 2011
(In Thousands)	Sugar		Leasing		Consolidated
Net Revenue from External Customers	$	408,174	$	6,630	$	414,804
Gross Proceeds	$	286,649	$	3,784	$	290,433
Depreciation and Amortization	$	13,129	$	2,846	$	15,975
Interest Income	$	60	$	—	$	60
Interest Expense	$	2,300	$	1	$	2,301
Loss from Equity Method Investees	$	11	$	—	$	11
Other Income/(Expense), Net	$	37	$	—	$	37
Consolidated Net Proceeds	$	222,102	$	3,763	$	225,865
Capital Additions	$	11,437	$	1,155	$	12,592

	As of May 31, 2012
(In Thousands)	Sugar		Leasing		Consolidated
Property and Equipment, Net	$	378,617	$	—	$	378,617
Assets Held for Lease, Net	$	—	$	86,173	$	86,173
Segment Assets	$	985,761	$	88,689	$	1,074,450

	As of May 31, 2011
(In Thousands)	Sugar		Leasing		Consolidated
Property and Equipment, Net	$	375,342	$	—	$	375,342
Assets Held for Lease, Net	$	—	$	95,422	$	95,422
Segment Assets	$	1,023,815	$	98,694	$	1,122,509

	As of August 31, 2011
(In Thousands)	Sugar		Leasing		Consolidated
Property and Equipment, Net	$	398,415	$	—	$	398,415
Assets Held for Lease, Net	$	—	$	92,824	$	92,824
Segment Assets	$	782,028	$	96,079	$	878,107