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 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue        
Lease revenue $ 17,050,092 $ 16,996,072 $ 34,116,618 $ 33,992,144
Transportation and distribution revenue 4,775,780 5,064,680 9,786,370 10,164,131
Financing revenue 0 0 0 162,344
Total Revenue 21,825,872 22,060,752 43,902,988 44,318,619
Expenses        
Transportation and distribution expenses 1,362,980 1,378,306 2,698,550 2,740,631
General and administrative 2,558,339 2,773,240 5,619,579 6,063,092
Depreciation, amortization and ARO accretion expense 6,005,995 5,737,025 12,011,903 11,033,843
Provision for loan loss and disposition 0 369,278 0 5,014,466
Total Expenses 9,927,314 10,257,849 20,330,032 24,852,032
Operating Income 11,898,558 11,802,903 23,572,956 19,466,587
Other Income (Expense)        
Net distributions and dividend income 221,440 214,169 264,902 589,742
Net realized and unrealized gain (loss) on other equity securities 614,634 1,199,665 70,426 (429,087)
Interest expense (3,202,837) (3,540,812) (6,657,234) (7,466,821)
Total Other Expense (2,366,763) (2,126,978) (6,321,906) (7,306,166)
Income before income taxes 9,531,795 9,675,925 17,251,050 12,160,421
Taxes        
Current tax expense (benefit) 57,651 203,652 23,891 (474,079)
Deferred tax expense (benefit) 38,084 206,786 (260,762) (370,609)
Income tax expense (benefit), net 95,735 410,438 (236,871) (844,688)
Net income 9,436,060 9,265,487 17,487,921 13,005,109
Less: Net Income attributable to non-controlling interest 435,888 310,960 818,271 659,461
Net Income attributable to CorEnergy Stockholders 9,000,172 8,954,527 16,669,650 12,345,648
Preferred dividend requirements 2,123,129 1,037,109 3,160,238 2,074,218
Net Income attributable to Common Stockholders 6,877,043 7,917,418 13,509,412 10,271,430
Net Income 9,436,060 9,265,487 17,487,921 13,005,109
Other comprehensive income (loss):        
Changes in fair value of qualifying hedges / AOCI attributable to CorEnergy stockholders 3,006 3,005 5,978 (208,071)
Changes in fair value of qualifying hedges / AOCI attributable to non-controlling interest 702 703 1,396 (48,647)
Net Change in Other Comprehensive Income (Loss) 3,708 3,708 7,374 (256,718)
Total Comprehensive Income 9,439,768 9,269,195 17,495,295 12,748,391
Less: Comprehensive income attributable to non-controlling interest 436,590 311,663 819,667 610,814
Comprehensive Income attributable to CorEnergy Stockholders $ 9,003,178 $ 8,957,532 $ 16,675,628 $ 12,137,577
Earnings Per Common Share:        
Basic (in dollars per share) $ 0.58 $ 0.66 $ 1.14 $ 0.86
Diluted (in dollars per share) $ 0.58 $ 0.66 $ 1.14 $ 0.86
Weighted Average Shares of Common Stock Outstanding:        
Basic (in shares) 11,896,616 11,912,030 11,892,670 11,927,984
Diluted (in shares) 11,896,616 15,383,892 11,892,670 11,927,984
Dividends declared per share (in dollars per share) $ 0.750 $ 0.750 $ 1.500 $ 1.500