ALICO, INC. 10-K

Item 2. Properties As of September 30, 2021, Alico owned approximately 83,000 acres of land located in eight counties in Florida. Acreage in each county and the primary classification with respect to the present use of these properties is shown in the following table: Total (1) Hendry Polk Collier DeSoto Glades Charlotte Hardee Highlands Alico Citrus: Citrus Groves 48,830 8,766 7,107 7,166 21,450 — 2,543 574 1,224 Citrus Nursery 22 — — — 22 — — — — Total Citrus Groves 48,852 8,766 7,107 7,166 21,472 — 2,543 574 1,224 Land Management and Other Operations 32,979 28,957 — 4,022 — — — — — Mining 526 — — — — 526 — — — Other 920 920 — — — — — — — Total 83,277 38,643 7,107 11,188 21,472 526 2,543 574 1,224 (1) Subsequent to September 30, 2021, the Company sold approximately 1,638 acres located in Hendry County (see “Recent Developments” above for further detail). Approximately 54,614 acres of the properties listed are encumbered by credit agreements totaling approximately $216,500,000, of which there was approximately $126,294,000 outstanding at September 30, 2021. For a more detailed description of the credit agreements and collateral please see Note 6. “Long-Term Debt and Lines of Credit” to the Company’s fiscal year 2021 consolidated financial statements. Although the Company has mineral rights on approximately 90,000 acres, the Company currently collects mining royalties on only approximately 526 acres of the land included in the table above located in Glades County, Florida and on none of the non-owned lands with respect to which it holds mineral rights. These royalties do not represent a significant portion of operating revenues or gross profits.