| EARNINGS PER SHARE |
EARNINGS PER SHARE
Basic earnings per share data is computed based on the weighted average number of shares of common stock outstanding during the periods. Diluted EPS data is computed based on the weighted average number of shares of common stock outstanding, including all potentially issuable shares of common stock. Diluted EPS for the six months ended June 30, 2016 excludes the impact to income and the number of shares outstanding from the conversion of the 7.00% Convertible Senior Notes, because such impact would be antidilutive.
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Earnings Per Share |
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2016 |
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June 30, 2015 |
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June 30, 2016 |
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June 30, 2015 |
Net income attributable to CorEnergy stockholders |
$ |
8,954,527 |
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$ |
4,185,138 |
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$ |
12,345,648 |
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$ |
8,271,766 |
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Less: preferred dividend requirements |
1,037,109 |
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1,037,109 |
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2,074,218 |
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1,774,609 |
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Net income attributable to common stockholders |
$ |
7,917,418 |
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$ |
3,148,029 |
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$ |
10,271,430 |
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$ |
6,497,157 |
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Weighted average shares - basic |
11,912,030 |
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9,523,753 |
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11,927,984 |
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9,423,758 |
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Basic earnings per share |
$ |
0.66 |
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$ |
0.33 |
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$ |
0.86 |
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$ |
0.69 |
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Net income attributable to common stockholders (from above) |
$ |
7,917,418 |
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$ |
3,148,029 |
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$ |
10,271,430 |
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$ |
6,497,157 |
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Add: After tax effect of convertible interest (1)
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2,181,958 |
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44,722 |
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— |
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44,722 |
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Income attributable for dilutive securities |
$ |
10,099,376 |
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$ |
3,192,751 |
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$ |
10,271,430 |
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$ |
6,541,879 |
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Weighted average shares - diluted |
15,383,892 |
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9,863,413 |
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11,927,984 |
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9,594,526 |
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Diluted earnings per share |
$ |
0.66 |
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$ |
0.32 |
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$ |
0.86 |
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$ |
0.68 |
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(1) The amounts in this line included with interest are the amortization of deferred costs and the amortization of the discount on the Convertible Notes. There is no income tax effect due to the fact that CorEnergy is a REIT. |
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