Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income (Unaudited)

v3.4.0.3
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenue    
Lease revenue $ 16,996,072 $ 7,336,101
Transportation and distribution revenue 5,099,451 3,649,735
Financing revenue 162,344 660,392
Sales revenue 0 2,341,655
Total Revenue 22,257,867 13,987,883
Expenses    
Transportation and distribution expenses 1,362,325 1,197,968
Cost of Sales 0 1,248,330
General and administrative 3,289,852 2,568,519
Depreciation, amortization and accretion expense 5,296,818 4,048,832
Provision for loan losses 4,645,188 0
Total Expenses 14,594,183 9,063,649
Operating Income 7,663,684 4,924,234
Other Income (Expense)    
Net distributions and dividend income 375,573 590,408
Net realized and unrealized gain (loss) on other equity securities (1,628,752) 449,798
Interest expense (3,926,009) (1,147,272)
Total Other Income (Expense) (5,179,188) (107,066)
Income before income taxes 2,484,496 4,817,168
Taxes    
Current tax expense (677,731) 435,756
Deferred tax expense (benefit) (577,395) (115,391)
Income tax expense (benefit), net (1,255,126) 320,365
Net Income 3,739,622 4,496,803
Less: Net Income attributable to non-controlling interest 348,501 410,175
Net Income attributable to CorEnergy Stockholders 3,391,121 4,086,628
Preferred dividend requirements 1,037,109 737,500
Net Income attributable to Common Stockholders 2,354,012 3,349,128
Other comprehensive income (loss):    
Changes in fair value of qualifying hedges attributable to CorEnergy stockholders (211,076) (276,107)
Changes in fair value of qualifying hedges attributable to non-controlling interest (49,350) (64,555)
Net Change in Other Comprehensive Income (Loss) (260,426) (340,662)
Total Comprehensive Income 3,479,196 4,156,141
Less: Comprehensive income attributable to non-controlling interest 299,151 345,620
Comprehensive Income attributable to CorEnergy Stockholders $ 3,180,045 $ 3,810,521
Earnings Per Common Share:    
Basic (in dollars per share) $ 0.20 $ 0.36
Diluted (in dollars per share) $ 0.20 $ 0.36
Weighted Average Shares of Common Stock Outstanding:    
Basic (in shares) 11,943,938 9,322,652
Diluted (in shares) 11,943,938 9,322,652
Dividends declared per share (in dollars per share) $ 0.75 $ 0.65