XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
OPERATING REVENUES:        
Rental income $ 9,081 $ 8,850 $ 27,823 $ 27,400
Total operating revenues 13,140 10,105 39,387 31,693
OPERATING EXPENSES        
Depreciation, depletion and amortization 1,665 1,911 5,076 5,731
Property operating expenses 2,115 1,993 6,128 5,632
Cost of goods sold 1,673 417 4,444 1,334
Acquisition and due diligence costs 24 5 86 5
General and administrative expenses 2,505 1,746 8,613 5,258
Legal and accounting 407 2,599 2,479 8,241
Other operating expenses 26   65 2
Total operating expenses 8,415 8,671 26,891 26,203
OPERATING INCOME 4,725 1,434 12,496 5,490
OTHER (INCOME) EXPENSE:        
Other (income) (366) (8) (380) (59)
(Income) from equity method investment   (15) (16) (15)
(Gain) loss on disposition of assets 48 112 (3,948) (3,355)
Interest expense 3,891 4,014 11,461 11,974
Total other expense 3,573 4,103 7,117 8,545
Net income (loss) before income tax expense 1,152 (2,669) 5,379 (3,055)
Income tax expense 33   129  
NET INCOME (LOSS) 1,119 (2,669) 5,250 (3,055)
Net (income) loss attributable to non-controlling interests in operating partnership (25) 115 (135) 127
Net income (loss) attributable to the Company 1,094 (2,554) 5,115 (2,928)
Nonforfeitable distributions allocated to unvested restricted shares (16) (14) (47) (42)
Distributions on Series A Preferred Units and Series B Preferred Stock (728) (3,055) (2,408) (9,175)
Net income (loss) available to common stockholders of Farmland Partners Inc. $ 350 $ (5,623) $ 2,660 $ (12,145)
Basic and diluted per common share data:        
Basic net income (loss) available to common stockholders $ 0.01 $ (0.17) $ 0.05 $ (0.39)
Diluted net income (loss) available to common stockholders $ 0.01 $ (0.17) $ 0.05 $ (0.39)
Basic weighted average common shares outstanding (in shares) 53,495 32,551 49,908 31,355
Diluted weighted average common shares outstanding (in shares) 53,495 32,551 49,908 31,355
Dividends declared per common share $ 0.06 $ 0.05 $ 0.17 $ 0.15
Tenant reimbursements        
OPERATING REVENUES:        
Revenue $ 883 $ 861 $ 2,470 $ 2,638
Crop sales        
OPERATING REVENUES:        
Revenue 2,471 262 4,316 715
Other revenue        
OPERATING REVENUES:        
Revenue $ 705 $ 132 $ 4,778 $ 940