Alico, Inc. (ALCO), a citrus farming and land management company, has been miscalculating its deferred tax liabilities (DTLs) for seven years. The calculation errors— which spanned fiscal years 2015-2019— weren’t discovered, Alico says, until an audit of its financial statements for the period ending September 30, 2022.

The company restated its balance sheet which resulted in a cumulative increase in Alico’s Retained Earnings of approximately $2,512,000.

The error was first disclosed in the company’s latest annual report.