XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Income Properties $ 6,021,331 $ 5,034,090 $ 18,483,654 $ 13,426,817
Interest Income from Commercial Loan Investments 534,212 546,640 2,050,507 1,816,834
Real Estate Operations 4,643,646 1,748,398 18,979,164 3,976,340
Golf Operations 1,001,368 949,083 3,877,923 3,935,076
Agriculture and Other Income 10,388 19,504 48,070 59,181
Total Revenues 12,210,945 8,297,715 43,439,318 23,214,248
Direct Cost of Revenues        
Income Properties (1,430,642) (997,760) (3,811,389) (2,321,493)
Real Estate Operations (1,257,183) (316,613) (4,638,865) (1,221,189)
Golf Operations (1,302,920) (1,355,469) (4,154,684) (4,201,313)
Agriculture and Other Income (52,894) (51,484) (153,599) (149,830)
Total Direct Cost of Revenues (4,043,639) (2,721,326) (12,758,537) (7,893,825)
General and Administrative Expenses (1,821,827) (2,778,960) (8,518,410) (6,123,603)
Impairment Charges     (2,180,730) (510,041)
Depreciation and Amortization (1,945,460) (1,417,129) (5,818,386) (3,644,620)
Gain on Disposition of Assets 11,479,490 3,763,140 12,842,438 3,781,329
Total Operating Expenses 3,668,564 (3,154,275) (16,433,625) (14,390,760)
Operating Income 15,879,509 5,143,440 27,005,693 8,823,488
Investment Income (Loss) 2,531 170,466 (561,162) 395,743
Interest Expense (2,454,390) (1,892,145) (6,700,593) (4,847,081)
Income Before Income Tax Expense 13,427,650 3,421,761 19,743,938 4,372,150
Income Tax Expense (5,281,646) (1,349,480) (8,624,727) (1,721,896)
Net Income 8,146,004 2,072,281 11,119,211 2,650,254
Less: Net Loss (Income) Attributable to Noncontrolling Interest in Consolidated VIE 15,010 7,590 36,964 7,590
Net Income Attributable to Consolidated-Tomoka Land Co. $ 8,161,014 $ 2,079,871 $ 11,156,175 $ 2,657,844
Per Share Information- See Note 10        
Basic Net Income Attributable to Consolidated-Tomoka Land Co. $ 1.44 $ 0.36 $ 1.96 $ 0.46
Diluted Net Income Attributable to Consolidated-Tomoka Land Co. 1.44 $ 0.36 1.95 0.45
Dividends Declared and Paid $ 0.04   $ 0.08 $ 0.04