Segment Reporting

3 Months Ended

Nov. 30, 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 three months ended November 30, 2012 and 2011 is shown below:

	For the Three Months Ended November 30, 2012
(In Thousands)	Sugar		Leasing			Consolidated
Net Revenue from External Customers	$	402,512	$	6,425		$	408,937
Gross Proceeds	$	436,751	$	3,576		$	440,327
Depreciation and Amortization	$	14,238	$	2,849		$	17,087
Interest Income	$	2	$	—		$	2
Interest Expense	$	1,867	$	—		$	1,867
Income from Equity Method Investees	$	—	$	—		$	—
Other Income/(Expense), Net	$	17	$	(18	)	$	(1	)
Consolidated Net Proceeds	$	287,677	$	3,534		$	291,211
Capital Additions	$	5,107	$	950		$	6,057

	For the Three Months Ended November 30, 2011
(In Thousands)	Sugar			Leasing		Consolidated
Net Revenue from External Customers	$	357,224		$	6,048	$	363,272
Gross Proceeds	$	278,899		$	3,191	$	282,090
Depreciation and Amortization	$	14,658		$	2,857	$	17,515
Interest Income	$	17		$	—	$	17
Interest Expense	$	1,681		$	—	$	1,681
Income from Equity Method Investees	$	19		$	—	$	19
Other Expense, Net	$	(5	)	$	—	$	(5	)
Consolidated Net Proceeds	$	185,105		$	3,168	$	188,273
Capital Additions	$	5,322		$	573	$	5,895

	As of November 30, 2012
(In Thousands)	Sugar		Leasing		Consolidated
Property and Equipment, Net	$	397,016	$	—	$	397,016
Assets Held for Lease, Net	$	—	$	82,179	$	82,179
Segment Assets	$	1,417,378	$	84,667	$	1,502,045

	As of November 30, 2011
(In Thousands)	Sugar		Leasing		Consolidated
Property and Equipment, Net	$	389,260	$	—	$	389,260
Assets Held for Lease, Net	$	—	$	90,540	$	90,540
Segment Assets	$	1,217,554	$	93,779	$	1,311,333

	As of August 31, 2012
(In Thousands)	Sugar		Leasing		Consolidated
Property and Equipment, Net	$	405,951	$	—	$	405,951
Assets Held for Lease, Net	$	—	$	84,095	$	84,095
Segment Assets	$	812,880	$	86,600	$	899,480