Water Resources and Other Operations and insurance claim reimbursement relating to Hurricane Irma in fiscal year 2019, as compared to the same period in fiscal year 2018. The increase in gross profit for fiscal year 2018, as compared to fiscal year 2017, was primarily driven by a decrease in operating expenses, which was partially offset by a reduction in revenues. The decrease in operating costs is due to (i) the Company allocating a smaller amount of accumulated costs to cost of goods sold, (ii) less harvesting and hauling costs incurred due to fewer boxes being harvested, and (iii) the Company receiving approximately $9,429,000 of insurance proceeds. Partially offsetting this decrease in operating expenses, along with the reduction in revenue, was impairment charges of approximately $3,349,000 relating to net realizable adjustment on inventory and long-lived assets. The decrease in revenue is primarily a result of the impact of Hurricane Irma. The table below presents key operating measures for the fiscal years ended September 30, 2019, 2018 and 2017: (in thousands) Land and other leasing includes lease income from a lease for grazing rights, hunting leases, a lease to a third party of an aggregate mine and leases of oil extraction rights to third parties, and farm lease revenue. The slight increase in revenues from Water Resources and Other Operations for the fiscal year ended September 30, 2019 is primarily due to the Company recording a full year of grazing lease revenue in fiscal year 2019, while only recording nine months of revenue as the lease for these grazing rights was executed on January 8, 2018, at the time of the sale of the cattle herd. Partially offsetting this increase was a decrease in farm lease revenue as a result of a lease not being renewed in fiscal year 2019. The Company continues to own the property and conduct its dispersed long-term water program and wildlife management programs. The decrease in revenues from Water Resources and Other Operations for the fiscal year 2018, as compared to fiscal year 2017, was primarily due to selling of Alico's cattle herd in January 2018. All inventory costs that were accumulated at the date of sale were expensed. As part of this transaction, the Company entered into a long-term leasing arrangement with the purchaser for the grazing rights on the Ranch that provides an annual revenue stream of approximately $1,200,000. As a result of these changes, Alico renamed this division to Water Resources and Other Operations to reflect its focus on water storage and nutrient reduction. Alico believes that its dispersed water storage project is the largest and most cost-effective project of its kind in the United States, and believes, once permits from state and federal agencies have been approved, the project will store and prevent large volumes of water from entering the Caloosahatchee River, will remove substantial amounts of nitrogen from the watershed, and will help to rehydrate natural systems that eventually flow south into the Everglades. 31 Fiscal Year Ended Fiscal Year Ended September 30, Change September 30, Change 2019 2018 $ % 2018 2017 $ % Revenue From: Land and other leasing $ 2,787 $ 2,595 $ 192 7.4 % $ 2,595 $ 2,294 $ 301 13.1 % Sale of calves and culls — 57 (57 ) (100.0 )% 57 3,732 (3,675 ) (98.5 )% Other 433 508 (75) (14.8)% 508 362 146 40.3 % Total $ 3,220 $ 3,160 $ 60 1.9  % $ 3,160 $ 6,388 $ (3,228 ) (50.5 )% Operating Expenses: Land and other leasing $ 1,047 $ 1,072 $ (25 ) (2.3 )% $ 1,072 $ 466 $ 606 130.0  % Cost of calves sold — 1,075 (1,075) (100.0)% 1,075 3,527 (2,452) (69.5)% Water conservation 1,206 1,619 (413 ) (25.5 )% 1,619 1,794 (175 ) (9.8 )% Other 44 213 (169) (79.3)% 213 3,165 (2,952) (93.3)% Total $ 2,297 $ 3,979 $ (1,682 ) (42.3 )% $ 3,979 $ 8,952 $ (4,973 ) (55.6 )% Gross Profit (loss) $ 923 $ (819 ) $ 1,742 $ (819 ) $ (2,564 ) $ 1,745 NM - Not meaningful