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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
OPERATING REVENUES:        
Rental income $ 9,539 $ 10,220 $ 19,746 $ 20,946
Total operating revenues 11,445 11,584 23,435 24,256
OPERATING EXPENSES        
Depreciation, depletion and amortization 1,430 2,207 2,911 4,001
Property operating expenses 1,870 2,428 3,668 4,610
Cost of goods sold 761 980 1,302 1,926
Acquisition and due diligence costs     27 14
General and administrative expenses 3,737 2,904 6,364 5,510
Legal and accounting 407 281 740 526
Other operating expenses   27 36 76
Total operating expenses 8,205 8,827 15,048 16,663
OTHER (INCOME) EXPENSE:        
Other (income) expense 52 75 (68) 64
(Income) loss from equity method investment (18) (5) (95) 22
(Gain) loss on disposition of assets, net 10 (11,060) 96 (12,886)
(Income) from forfeited deposits     (1,205)  
Interest expense 5,249 5,844 10,285 10,768
Total other expense 5,293 (5,146) 9,013 (2,032)
Net income (loss) before income tax (benefit) expense (2,053) 7,903 (626) 9,625
Income tax (benefit) expense (1) 4 18 13
NET INCOME (LOSS) (2,052) 7,899 (644) 9,612
Net (income) loss attributable to non-controlling interests in operating partnership 50 (188) 15 (226)
Net income (loss) attributable to the Company (2,002) 7,711 (629) 9,386
Distributions on Series A Preferred Units (743) (683) (1,486) (1,485)
Net income (loss) available to common stockholders of Farmland Partners Inc. $ (2,769) $ 7,001 $ (2,163) $ 7,858
Basic and diluted per common share data:        
Basic net income (loss) available to common stockholders $ (0.06) $ 0.14 $ (0.05) $ 0.15
Diluted net income (loss) available to common stockholders $ (0.06) $ 0.12 $ (0.05) $ 0.15
Basic weighted average common shares outstanding (in shares) 47,798 50,860 47,751 52,425
Diluted weighted average common shares outstanding (in shares) 47,798 59,112 47,751 52,425
Dividends declared per common share $ 0.06 $ 0.06 $ 0.1200 $ 0.1200
Performance Based Unvested Restricted Shares        
OTHER (INCOME) EXPENSE:        
Dividend equivalent rights or nonforfeitable distributions allocated to restricted shares $ (2)   $ (4)  
Time Based Unvested Restricted Shares        
OTHER (INCOME) EXPENSE:        
Dividend equivalent rights or nonforfeitable distributions allocated to restricted shares (22) $ (27) (44) $ (43)
Crop sales        
OPERATING REVENUES:        
Revenue 935 515 1,595 875
Other revenue        
OPERATING REVENUES:        
Revenue $ 971 $ 849 $ 2,094 $ 2,435