Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information (unaudited)

Quarterly Financial Information (unaudited)

Note 10—Quarterly Financial Information (unaudited)

The following table reflects the quarterly results of operations for the years ended December 31, 2019 and 2018. 

	Quarter Ended
($ in thousands except per share data)	March 31, 2019		June 30, 2019		September 30, 2019		December 31, 2019
Operating revenues	$	10,889		10,948		9,848		21,879
Operating expenses		6,366		6,994		6,622		7,245
Other expenses		4,514		(2,571)		4,689		4,855
Net (loss) income before income tax		9		6,525		(1,463)		9,779
Income tax expense		—		—		—		—
Net (loss) income	$	9	$	6,525	$	(1,463)	$	9,779
Net (loss) available to common stockholders of Farmland Partners Inc.	$	(3,140)	$	2,906	$	(4,499)	$	6,057
Basic net (loss) per share available to common stockholders(1)	$	(0.10)	$	0.09	$	(0.15)	$	0.20
Diluted net (loss) per share available to common stockholders(1)	$	(0.10)	$	0.08	$	(0.15)	$	0.09
Basic weighted average common shares outstanding		30,791		30,637		29,497		29,723
Diluted weighted average common shares outstanding		30,791		48,370		29,497		69,874

(1) The basic and diluted net (loss) income for the quarters do not equal full year results due to issuance of common stock throughout the year and rounding.

	Quarter Ended
($ in thousands)	March 31, 2018		June 30, 2018		September 30, 2018		December 31, 2018
Operating revenues	$	11,207		11,419		12,549		20,894
Operating expenses		6,386		6,231		6,394		7,365
Other expenses		4,318		4,207		1,998		5,130
Net (loss) income before income tax		503		981		4,157		8,399
State income tax expense		—		—		—		—
Net (loss) income	$	503	$	981	$	4,157	$	8,399
Net (loss) income available to common stockholders of Farmland Partners Inc.	$	(2,744)	$	(2,323)	$	484	$	4,163