Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income (Unaudited)

v3.7.0.1
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenue    
Lease revenue $ 17,066,526 $ 16,996,072
Transportation and distribution revenue 5,010,590 5,099,451
Financing revenue 0 162,344
Total Revenue 22,077,116 22,257,867
Expenses    
Transportation and distribution expenses 1,335,570 1,362,325
General and administrative 3,061,240 3,289,852
Depreciation, amortization and ARO accretion expense 6,005,908 5,296,818
Provision for loan loss and disposition 0 4,645,188
Total Expenses 10,402,718 14,594,183
Operating Income 11,674,398 7,663,684
Other Income (Expense)    
Net distributions and dividend income 43,462 375,573
Net realized and unrealized loss on other equity securities (544,208) (1,628,752)
Interest expense (3,454,397) (3,926,009)
Total Other Expense (3,955,143) (5,179,188)
Income before income taxes 7,719,255 2,484,496
Taxes    
Current tax benefit (33,760) (677,731)
Deferred tax benefit (298,846) (577,395)
Income tax benefit (332,606) (1,255,126)
Net Income 8,051,861 3,739,622
Less: Net Income attributable to non-controlling interest 382,383 348,501
Net Income attributable to CorEnergy Stockholders 7,669,478 3,391,121
Preferred dividend requirements 1,037,109 1,037,109
Net Income attributable to Common Stockholders 6,632,369 2,354,012
Other comprehensive income (loss):    
Changes in fair value of qualifying hedges / AOCI attributable to CorEnergy stockholders 2,972 (211,076)
Changes in fair value of qualifying hedges / AOCI attributable to non-controlling interest 694 (49,350)
Net Change in Other Comprehensive Income (Loss) 3,666 (260,426)
Total Comprehensive Income 8,055,527 3,479,196
Less: Comprehensive income attributable to non-controlling interest 383,077 299,151
Comprehensive Income attributable to CorEnergy Stockholders $ 7,672,450 $ 3,180,045
Earnings Per Common Share:    
Basic (in dollars per share) $ 0.56 $ 0.20
Diluted (in dollars per share) $ 0.56 $ 0.20
Weighted Average Shares of Common Stock Outstanding:    
Basic (in shares) 11,888,681 11,943,938
Diluted (in shares) 11,888,681 11,943,938
Dividends declared per share (in dollars per share) $ 0.75 $ 0.75