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Other Income
6 Months Ended
Mar. 31, 2012
Other Income [Abstract]  
Other Income

9. OTHER INCOME

Other income included the following (in thousands of dollars):

 

                                 
     Three Months Ended
March  31,
    Six Months Ended
March  31,
 
     2012     2011     2012     2011  

Equity Earnings in investment in

                                

Wholesome Sweeteners, Inc.

   $ 2,638       1,222      $ 4,019        30   

Comercializadora Santos Imperial S. de R.L. de C.V.

     —        $ 1,303        —        $ 1,480   

Louisiana Sugar Refining, LLC

     —          (1,913 )     —          (1,507 )

Other

     (39             (62        

Reduction of fair value of guarantee

     —          700        —          700   

Other

     54        (46 )     (2     (122 )
    

 

 

   

 

 

   

 

 

   

 

 

 
         

Total

   $ 2,653      $ 1,266      $ 3,955      $ 581   
    

 

 

   

 

 

   

 

 

   

 

 

 

The Company reports its share of earnings in these investees on the equity method. The Company sold its investment in Comercializadora Santos Imperial S. de R.L. de C.V. and LSR during the six months ended March 31, 2012, and sold its investment in Wholesome in April 2012. Equity earnings in Wholesome for the quarter ended December 31, 2010 included a $2.4 million adjustment to the carrying value of Imperial's investment to reflect the increased value of

 

Wholesome's management incentive shares. Summarized combined financial information for Wholesome for the quarter and six months ended March 31, 2012 and 2011 includes the following (in thousands of dollars):

 

                                     
     Quarter      Year to Date  
     2012      2011      2012      2011  

Net Sales

   $ 50,455       $ 26,321              91,483         57,052   

Gross Profit

   $ 13,067       $ 6,543              23,212         13,904   

Operating Income

   $ 8,535       $ 4,148              15,331         8,693  

Net Income

   $ 5,515       $ 2,628              9,891         5,247