v3.25.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
OPERATING REVENUES:        
Rental income $ 6,024 $ 9,539 $ 12,994 $ 19,746
Total operating revenues 9,960 11,445 20,212 23,435
OPERATING EXPENSES        
Depreciation, depletion and amortization 1,130 1,430 2,303 2,911
Property operating expenses 1,606 1,870 3,086 3,668
Cost of goods sold 1,464 761 2,128 1,302
Acquisition and due diligence costs (3)   2 27
General and administrative expenses 2,413 3,737 5,034 6,364
Legal and accounting 657 407 1,101 740
Impairment of assets 16,821   16,821  
Other operating expenses 5   17 36
Total operating expenses 24,093 8,205 30,492 15,048
OTHER (INCOME) EXPENSE:        
Other (income) expense (123) 52 (256) (68)
(Income) from equity method investment (3) (18) (2) (95)
(Gain) loss on disposition of assets, net (24,228) 10 (24,991) 96
(Income) from forfeited deposits       (1,205)
Interest expense 2,437 5,249 5,075 10,285
Total other (income) expense (21,917) 5,293 (20,174) 9,013
Net income (loss) before income tax (benefit) expense 7,784 (2,053) 9,894 (626)
Income tax (benefit) expense (8) (1) 9 18
NET INCOME (LOSS) 7,792 (2,052) 9,885 (644)
Net (income) loss attributable to non-controlling interests in operating partnership (190) 50 (244) 15
Net income (loss) attributable to the Company 7,602 (2,002) 9,641 (629)
Distributions on Series A Preferred Units (743) (743) (1,486) (1,486)
Net income (loss) available to common stockholders of Farmland Partners Inc. $ 6,836 $ (2,769) $ 8,108 $ (2,163)
Basic and diluted per common share data:        
Basic net income (loss) available to common stockholders $ 0.15 $ (0.06) $ 0.18 $ (0.05)
Diluted net income (loss) available to common stockholders $ 0.14 $ (0.06) $ 0.18 $ (0.05)
Basic weighted average common shares outstanding (in shares) 45,248 47,798 45,418 47,751
Diluted weighted average common shares outstanding (in shares) 53,984 47,798 54,184 47,751
Dividends declared per common share $ 0.06 $ 0.06 $ 0.12 $ 0.12
Performance-based unvested restricted shares        
OTHER (INCOME) EXPENSE:        
Dividend equivalent rights or nonforfeitable distributions allocated to unvested restricted shares $ (4) $ (2) $ (8) $ (4)
Time-based unvested restricted shares        
OTHER (INCOME) EXPENSE:        
Dividend equivalent rights or nonforfeitable distributions allocated to unvested restricted shares (19) (22) (39) (44)
Crop sales        
OPERATING REVENUES:        
Revenue 1,439 935 2,286 1,595
Other revenue        
OPERATING REVENUES:        
Revenue $ 2,497 $ 971 $ 4,932 $ 2,094