10-K Filing

MAUI LAND & PINEAPPLE CO INC CIK: 63330 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001437749-24-009834`
Period End Date	20231231
Filing Date	20240328
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	mlp20231231c_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 32 Cash Flow Statement 52 Stockholders Equity 18

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	43.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	43.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	43.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.62M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	19.48M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.48M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.62M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.50M	USD	Point-in-time
Cash, restricted	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.00K	USD	Point-in-time
Cash, restricted	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$892.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.17M	USD	Point-in-time
Investment in bond securities, current portion	`HeldToMaturitySecuritiesCurrent`	$2.43M	USD	Point-in-time
Investment in bond securities, current portion	`HeldToMaturitySecuritiesCurrent`	$2.67M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$467.00K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$368.00K	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$3.02M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$15.22M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$10.00M	USD	Point-in-time
Land	`Land`	$5.05M	USD	Point-in-time
Land	`Land`	$5.05M	USD	Point-in-time
Land improvements	`LandImprovements`	$12.94M	USD	Point-in-time
Land improvements	`LandImprovements`	$13.85M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$22.87M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$22.87M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$10.50M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$10.36M	USD	Point-in-time
Total Property & Equipment	`PropertyPlantAndEquipmentGross`	$52.27M	USD	Point-in-time
Total Property & Equipment	`PropertyPlantAndEquipmentGross`	$51.22M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$36.22M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$35.35M	USD	Point-in-time
Property & Equipment, net	`PropertyPlantAndEquipmentNet`	$16.06M	USD	Point-in-time
Property & Equipment, net	`PropertyPlantAndEquipmentNet`	$15.88M	USD	Point-in-time
Investment in bond securities, less current portion	`HeldToMaturitySecuritiesNoncurrent`	$464.00K	USD	Point-in-time
Investment in bond securities, less current portion	`HeldToMaturitySecuritiesNoncurrent`	$551.00K	USD	Point-in-time
Investment in joint venture	`EquityMethodInvestments`	$1.61M	USD	Point-in-time
Investment in joint venture	`EquityMethodInvestments`	-	USD	Point-in-time
Deferred development costs	`DeferredCosts`	$9.57M	USD	Point-in-time
Deferred development costs	`DeferredCosts`	$12.81M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsMiscellaneousNoncurrent`	$1.27M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsMiscellaneousNoncurrent`	$1.19M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$16.16M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$11.31M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$42.22M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$42.41M	USD	Point-in-time
Accounts payable	`AccountsPayableTradeCurrent`	$589.00K	USD	Point-in-time
Accounts payable	`AccountsPayableTradeCurrent`	$1.15M	USD	Point-in-time
Payroll and employee benefits	`PayrollAndEmployeeBenefitsLiabilitiesCurrent`	$502.00K	USD	Point-in-time
Payroll and employee benefits	`PayrollAndEmployeeBenefitsLiabilitiesCurrent`	$869.00K	USD	Point-in-time
Accrued retirement benefits, current portion	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrent`	$142.00K	USD	Point-in-time
Accrued retirement benefits, current portion	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrent`	$142.00K	USD	Point-in-time
Deferred revenue, current portion	`ContractWithCustomerLiabilityCurrent`	$227.00K	USD	Point-in-time
Deferred revenue, current portion	`ContractWithCustomerLiabilityCurrent`	$217.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$465.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$480.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.48M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.31M	USD	Point-in-time
Accrued retirement benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$2.61M	USD	Point-in-time
Accrued retirement benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$1.55M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$30.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$14.00K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$5.04M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$6.33M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$7.52M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$8.63M	USD	Point-in-time
COMMITMENTS & CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS & CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock--$.0001 par value at December 31, 2023 and 2022, respectively; 43,000,000 shares authorized; 19,615,350 and 19,476,671 shares issued and outstanding at December 31, 2023 and 2022, respectively	`CommonStockValue`	$84.68M	USD	Point-in-time
Common stock--$.0001 par value at December 31, 2023 and 2022, respectively; 43,000,000 shares authorized; 19,615,350 and 19,476,671 shares issued and outstanding at December 31, 2023 and 2022, respectively	`CommonStockValue`	$83.39M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$9.18M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$10.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-50.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-53.62M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.27M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$33.77M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$34.70M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$23.59M	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$42.41M	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$42.22M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Pension, taxes	`OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent`	-	USD	Annual
Pension, taxes	`OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent`	-	USD	Annual
Leasing	`OperatingLeaseLeaseIncome`	$8.46M	USD	Annual
Leasing	`OperatingLeaseLeaseIncome`	$8.51M	USD	Annual
Total Operating Revenues	`Revenues`	$10.91M	USD	Annual
Total Operating Revenues	`Revenues`	$20.96M	USD	Annual
Leasing	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$3.60M	USD	Annual
Leasing	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$4.42M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.00M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.79M	USD	Annual
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$1.28M	USD	Annual
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$2.85M	USD	Annual
Depreciation	`Depreciation`	$1.11M	USD	Annual
Depreciation	`Depreciation`	$869.00K	USD	Annual
Total Operating Costs and Expenses	`OperatingCostsAndExpenses`	$11.35M	USD	Annual
Total Operating Costs and Expenses	`OperatingCostsAndExpenses`	$14.26M	USD	Annual
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-3.35M	USD	Annual
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$9.61M	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$71.00K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$707.00K	USD	Annual
Pension and other post-retirement expenses	`PensionAndOtherPostretirementBenefitExpense`	$7.88M	USD	Annual
Pension and other post-retirement expenses	`PensionAndOtherPostretirementBenefitExpense`	$436.00K	USD	Annual
Interest expense	`InterestIncomeExpenseNet`	$-6.00K	USD	Annual
Interest expense	`InterestIncomeExpenseNet`	$-6.00K	USD	Annual
NET INCOME (LOSS)	`NetIncomeLoss`	$1.79M	USD	Annual
NET INCOME (LOSS)	`NetIncomeLoss`	$-3.08M	USD	Annual
Pension, net of income taxes of $0	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-1.37M	USD	Annual
Pension, net of income taxes of $0	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-7.38M	USD	Annual
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$9.17M	USD	Annual
TOTAL COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-1.71M	USD	Annual
INCOME (LOSS) PER COMMON SHARE--BASIC AND DILUTED (in dollars per share)	`EarningsPerShareBasic`	$90.00	USD	Annual
INCOME (LOSS) PER COMMON SHARE--BASIC AND DILUTED (in dollars per share)	`EarningsPerShareBasic`	$-150.00	USD	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Cash receipts from customers and other receipts	`ProceedsFromCoreOperatingActivities`	$20.92M	USD	Annual
Cash receipts from customers and other receipts	`ProceedsFromCoreOperatingActivities`	$9.85M	USD	Annual
Cash paid to vendors	`PaymentsToSuppliers`	$8.79M	USD	Annual
Cash paid to vendors	`PaymentsToSuppliers`	$13.30M	USD	Annual
Cash paid for payroll and taxes	`PaymentsToEmployees`	$1.36M	USD	Annual
Cash paid for payroll and taxes	`PaymentsToEmployees`	$2.42M	USD	Annual
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-1.37M	USD	Annual
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$6.26M	USD	Annual
Purchases of bond securities	`PaymentsToAcquireHeldToMaturitySecurities`	$3.08M	USD	Annual
Purchases of bond securities	`PaymentsToAcquireHeldToMaturitySecurities`	$3.11M	USD	Annual
Maturities of bond securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$97.00K	USD	Annual
Maturities of bond securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$2.96M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$618.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	-	USD	Annual
Payments for other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$94.00K	USD	Annual
Payments for other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$33.00K	USD	Annual
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-3.02M	USD	Annual
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-864.00K	USD	Annual
Common stock issuance costs and other	`PaymentsOfStockIssuanceCosts`	$335.00K	USD	Annual
Common stock issuance costs and other	`PaymentsOfStockIssuanceCosts`	$574.00K	USD	Annual
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-574.00K	USD	Annual
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-335.00K	USD	Annual
NET INCREASE (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.81M	USD	Annual
NET INCREASE (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.91M	USD	Annual
CASH AND RESTRICTED CASH AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.51M	USD	Point-in-time
CASH AND RESTRICTED CASH AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.70M	USD	Point-in-time
CASH AND RESTRICTED CASH AT BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.60M	USD	Point-in-time
CASH AND RESTRICTED CASH AT END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.51M	USD	Point-in-time
CASH AND RESTRICTED CASH AT END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.70M	USD	Point-in-time
CASH AND RESTRICTED CASH AT END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.60M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$1.79M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-3.08M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$785.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.12M	USD	Annual
Bad debt provision	`ProvisionForDoubtfulAccounts`	$28.00K	USD	Annual
Bad debt provision	`ProvisionForDoubtfulAccounts`	$142.00K	USD	Annual
Restricted Stock or Unit Expense	`RestrictedStockExpense`	$2.60M	USD	Annual
Restricted Stock or Unit Expense	`RestrictedStockExpense`	$855.00K	USD	Annual
Gain on disposal of property	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Gain on disposal of property	`GainLossOnSaleOfPropertyPlantEquipment`	$1.61M	USD	Annual
Cost of real estate sales	`RealEstateSalesCosts`	-	USD	Annual
Cost of real estate sales	`RealEstateSalesCosts`	$167.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$416.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-183.00K	USD	Annual
Retirement liabilities	`IncreaseDecreaseInPensionAndPostretirementObligations`	$2.06M	USD	Annual
Retirement liabilities	`IncreaseDecreaseInPensionAndPostretirementObligations`	$308.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$102.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.00K	USD	Annual
Other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$200.00K	USD	Annual
Other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-62.00K	USD	Annual
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-1.37M	USD	Annual
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$6.26M	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$33.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$34.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.59M	USD	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$855.00K	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.60M	USD	Annual
Issuance of shares for incentive plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$620.00K	USD	Annual
Issuance of shares for incentive plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$494.00K	USD	Annual
Vested restricted stock issued	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Vested restricted stock issued	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Shares canceled to pay tax liability	`StockRepurchasedAndRetiredDuringPeriodValue`	$574.00K	USD	Annual
Shares canceled to pay tax liability	`StockRepurchasedAndRetiredDuringPeriodValue`	$335.00K	USD	Annual
Pension, net of income taxes of $0	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-1.37M	USD	Annual
Pension, net of income taxes of $0	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-7.38M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.79M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-3.08M	USD	Annual
Balance	`StockholdersEquity`	$33.77M	USD	Point-in-time
Balance	`StockholdersEquity`	$34.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$23.59M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.