XML 14 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
OPERATING REVENUES:        
Rental income (See Note 2) $ 10,471 $ 5,881 $ 17,274 $ 10,298
Tenant reimbursements 652 95 756 164
Other revenue 337 55 579 261
Total operating revenues 11,460 6,031 18,609 10,723
OPERATING EXPENSES        
Depreciation, depletion and amortization 2,056 365 3,544 683
Property operating expenses 1,196 541 2,999 981
Acquisition and due diligence costs 183 48 698 105
General and administrative expenses 2,052 1,657 4,133 3,183
Legal and accounting 302 186 701 552
Other operating expenses 120   276 89
Total operating expenses 5,909 2,797 12,351 5,593
OPERATING INCOME 5,551 3,234 6,258 5,130
OTHER (INCOME) EXPENSE:        
Other income (16) (33) (22) (62)
Loss on disposition of assets 92   92  
Interest expense 3,454 1,950 6,169 5,804
Total other expense 3,530 1,917 6,239 5,742
NET INCOME (LOSS) 2,021 1,317 19 (612)
Net (income) loss attributable to non-controlling interests in operating partnership (334) (408) 41 67
Net (income) loss income attributable to redeemable non-controlling interests in operating partnership   (37)   64
Net income (loss) attributable to the Company 1,687 872 60 (481)
Nonforfeitable distributions allocated to unvested restricted shares (37) (23) (80) (53)
Net income (loss) available to common stockholders of Farmland Partners Inc. $ 772 $ (38) $ (1,775) $ (1,817)
Basic and diluted per common share data:        
Basic net income (loss) available to common stockholders $ 0.02 $ 0.00 $ (0.06) $ (0.15)
Diluted net income (loss) available to common stockholders $ 0.02 $ 0.00 $ (0.06) $ (0.15)
Basic weighted average common shares outstanding (in shares) 32,457 12,452 29,594 12,146
Diluted weighted average common shares outstanding (in shares) 32,457 12,452 29,594 12,146
Dividends declared per common share $ 0.1275 $ 0.1275 $ 0.2550 $ 0.2550
Redeemable OP units        
OTHER (INCOME) EXPENSE:        
Distributions on redeemable non-controlling interests in operating partnership       $ (113)
Redeemable Preferred OP Units        
OTHER (INCOME) EXPENSE:        
Distributions on redeemable non-controlling interests in operating partnership $ (878) $ (887) $ (1,755) $ (1,170)