Segment Reporting

6 Months Ended

Feb. 28, 2013

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 six months and three months ended February 28, 2013 and February 29, 2012 is shown below:

	For the Six Months Ended February 28, 2013
(In Thousands)	Sugar			Leasing			Consolidated
Net Revenue from External Customers	$	792,229		$	12,114		$	804,343
Gross Proceeds	$	763,387		$	6,423		$	769,810
Depreciation and Amortization	$	28,537		$	5,691		$	34,228
Interest Income	$	47		$	—		$	47
Interest Expense	$	4,122		$	—		$	4,122
Income from Equity Method Investees	$	—		$	—		$	—
Other Income/(Expense), Net	$	(229	)	$	(186	)	$	(415	)
Consolidated Net Proceeds	$	512,323		$	6,190		$	518,513
Capital Additions	$	15,018		$	1,164		$	16,182

	For the Six Months Ended February 29, 2012
(In Thousands)	Sugar		Leasing		Consolidated
Net Revenue from External Customers	$	695,218	$	12,029	$	707,247
Gross Proceeds	$	632,308	$	6,319	$	638,627
Depreciation and Amortization	$	28,850	$	5,710	$	34,560
Interest Income	$	19	$	—	$	19
Interest Expense	$	3,881	$	—	$	3,881
Income from Equity Method Investees	$	63	$	—	$	63
Other Income/(Expense), Net	$	3	$	—	$	3
Consolidated Net Proceeds	$	395,776	$	6,277	$	402,053
Capital Additions	$	12,736	$	1,079	$	13,815

	For the Three Months Ended February 28, 2013
(In Thousands)	Sugar			Leasing			Consolidated
Net Revenue from External Customers	$	389,717		$	5,689		$	395,406
Gross Proceeds	$	326,636		$	2,847		$	329,483
Depreciation and Amortization	$	14,299		$	2,842		$	17,141
Interest Income	$	45		$	—		$	45
Interest Expense	$	2,255		$	—		$	2,255
Income from Equity Method Investees	$	—		$	—		$	—
Other Income/(Expense), Net	$	(246	)	$	(168	)	$	(414	)
Consolidated Net Proceeds	$	224,646		$	2,656		$	227,302
Capital Additions	$	9,911		$	214		$	10,125

	For the Three Months Ended February 29, 2012
(In Thousands)	Sugar		Leasing		Consolidated
Net Revenue from External Customers	$	337,994	$	5,981	$	343,975
Gross Proceeds	$	353,409	$	3,128	$	356,537
Depreciation and Amortization	$	14,192	$	2,853	$	17,045
Interest Income	$	2	$	—	$	2
Interest Expense	$	2,200	$	—	$	2,200
Income from Equity Method Investees	$	44	$	—	$	44
Other Income/(Expense), Net	$	8	$	—	$	8
Consolidated Net Proceeds	$	210,671	$	3,109	$	213,780
Capital Additions	$	7,414	$	506	$	7,920

	As of February 28, 2013
(In Thousands)	Sugar		Leasing		Consolidated
Property and Equipment, Net	$	392,551	$	—	$	392,551
Assets Held for Lease, Net	$	—	$	79,382	$	79,382
Segment Assets	$	1,240,746	$	81,901	$	1,322,647

	As of February 29, 2012
(In Thousands)	Sugar		Leasing		Consolidated
Property and Equipment, Net	$	382,662	$	—	$	382,662
Assets Held for Lease, Net	$	—	$	88,193	$	88,193
Segment Assets	$	1,167,891	$	91,416	$	1,259,307

	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