Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income (Unaudited)

v3.8.0.1
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenue    
Lease revenue $ 17,591,859 $ 17,066,526
Transportation and distribution revenue 3,952,979 5,010,590
Total Revenue 21,544,838 22,077,116
Expenses    
Transportation and distribution expenses 1,572,896 1,335,570
General and administrative 2,727,057 3,061,240
Depreciation, amortization and ARO accretion expense 6,289,330 6,005,908
Provision for loan losses 500,000 0
Total Expenses 11,089,283 10,402,718
Operating Income 10,455,555 11,674,398
Other Income (Expense)    
Net distributions and dividend income 3,951 43,462
Net realized and unrealized gain (loss) on other equity securities 13,966 (544,208)
Interest expense (3,210,590) (3,454,397)
Total Other Expense (3,192,673) (3,955,143)
Income before income taxes 7,262,882 7,719,255
Taxes    
Current tax benefit (35,549) (33,760)
Deferred tax benefit (409,277) (298,846)
Income tax benefit, net (444,826) (332,606)
Net income 7,707,708 8,051,861
Less: Net Income attributable to non-controlling interest 0 382,383
Net Income attributable to CorEnergy Stockholders 7,707,708 7,669,478
Preferred dividend requirements 2,396,875 1,037,109
Net Income attributable to Common Stockholders 5,310,833 6,632,369
Net Income 7,707,708 8,051,861
Other comprehensive income:    
Changes in fair value of qualifying hedges / AOCI attributable to CorEnergy stockholders 0 2,972
Changes in fair value of qualifying hedges / AOCI attributable to non-controlling interest 0 694
Net Change in Other Comprehensive Income 0 3,666
Total Comprehensive Income 7,707,708 8,055,527
Less: Comprehensive income attributable to non-controlling interest 0 383,077
Comprehensive Income attributable to CorEnergy Stockholders $ 7,707,708 $ 7,672,450
Earnings Per Common Share:    
Basic (in dollars per share) $ 0.45 $ 0.56
Diluted (in dollars per share) $ 0.45 $ 0.56
Weighted Average Shares of Common Stock Outstanding:    
Basic (in shares) 11,918,904 11,888,681
Diluted (in shares) 11,918,904 11,888,681
Dividends declared per share (in dollars per share) $ 0.750 $ 0.750