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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
OPERATING REVENUES:        
Rental income $ 9,753 $ 10,137 $ 29,499 $ 31,084
Total operating revenues 13,317 11,617 36,752 35,874
OPERATING EXPENSES        
Depreciation, depletion and amortization 1,414 1,904 4,325 5,905
Property operating expenses 1,956 2,099 5,624 6,709
Cost of goods sold 1,577 703 2,879 2,629
Acquisition and due diligence costs   3 27 17
General and administrative expenses 2,634 2,651 8,998 8,161
Legal and accounting 502 398 1,242 924
Impairment of assets   3,840   3,840
Other operating expenses 11 4 47 81
Total operating expenses 8,094 11,602 23,142 28,266
OTHER (INCOME) EXPENSE:        
Other (income) expense (134) (41) (202) 23
(Income) loss from equity method investment (8) (5) (103) 17
(Gain) on disposition of assets, net (1,980) (10,293) (1,884) (23,179)
(Income) from forfeited deposits     (1,205)  
Interest expense 5,496 6,230 15,781 16,998
Total other (income) expense 3,374 (4,109) 12,387 (6,141)
Net income before income tax (benefit) expense 1,849 4,124 1,223 13,749
Income tax (benefit) expense 11 (191) 29 (178)
NET INCOME 1,838 4,315 1,194 13,927
Net (income) attributable to non-controlling interests in operating partnership (45) (105) (29) (331)
Net income attributable to the Company 1,793 4,210 1,165 13,596
Distributions on Series A Preferred Units (743) (743) (2,229) (2,228)
Net income (loss) available to common stockholders of Farmland Partners Inc. $ 1,028 $ 3,446 $ (1,134) $ 11,304
Basic and diluted per common share data:        
Basic net income (loss) available to common stockholders $ 0.02 $ 0.07 $ (0.02) $ 0.22
Diluted net income (loss) available to common stockholders $ 0.02 $ 0.07 $ (0.02) $ 0.22
Basic weighted average common shares outstanding (in shares) 47,839 48,432 47,780 51,079
Diluted weighted average common shares outstanding (in shares) 47,839 48,432 47,780 51,079
Dividends declared per common share $ 0.06 $ 0.06 $ 0.1800 $ 0.1800
Performance Based Unvested Restricted Shares        
OTHER (INCOME) EXPENSE:        
Dividend equivalent rights or nonforfeitable distributions allocated to restricted shares $ (2)   $ (6)  
Time Based Unvested Restricted Shares        
OTHER (INCOME) EXPENSE:        
Dividend equivalent rights or nonforfeitable distributions allocated to restricted shares (20) $ (21) (64) $ (64)
Crop sales        
OPERATING REVENUES:        
Revenue 2,616 814 4,211 1,689
Other revenue        
OPERATING REVENUES:        
Revenue $ 948 $ 666 $ 3,042 $ 3,101