Annual report pursuant to Section 13 and 15(d)

QUARTERLY FINANCIAL DATA (Unaudited) QUARTERLY FINANCIAL DATA (Unaudited)

v3.3.1.900
QUARTERLY FINANCIAL DATA (Unaudited) QUARTERLY FINANCIAL DATA (Unaudited)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL DATA (Unaudited)
QUARTERLY FINANCIAL DATA (Unaudited)
 
 
For the Fiscal 2015 Quarters Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
Revenue
 
 
 
 
 
 
 
 
Lease revenue
 
$
7,336,101

 
$
6,799,879

 
$
16,966,056

 
$
16,984,036

Sales revenue
 
2,341,655

 
1,665,908

 
1,434,694

 
1,717,787

Financing revenue
 
660,392

 
668,904

 
182,604

 
185,650

Transportation revenue
 
3,649,735

 
3,546,979

 
3,557,096

 
3,591,459

Total Revenue
 
13,987,883

 
12,681,670

 
22,140,450

 
22,478,932

Expenses
 
 
 
 
 
 
 
 
Cost of sales (excluding depreciation expense)
 
1,248,330

 
569,958

 
382,851

 
618,073

Depreciation, amortization and ARO accretion expense
 
4,048,832

 
3,495,986

 
5,836,665

 
5,385,068

Provision for loan losses
 

 

 
7,951,137

 
5,833,000

Transportation, maintenance and general and administrative
 
991,608

 
1,076,352

 
856,050

 
935,775

Operating expenses
 
206,360

 
195,673

 
264,812

 
83,095

General and administrative
 
2,568,519

 
1,905,329

 
2,837,762

 
2,434,094

Total Expenses
 
9,063,649

 
7,243,298

 
18,129,277

 
15,289,105

Income (Loss) from Operations, before income taxes
 
$
4,924,234

 
$
5,438,372

 
$
4,011,173

 
$
7,189,827

Other Income (Expense)
 
 
 
 
 
 
 
 
Net distributions and dividend income
 
$
590,408

 
$
193,410

 
$
241,563

 
$
245,374

Net realized and unrealized gain (loss) on other equity securities
 
449,798

 
43,385

 
(1,408,751
)
 
(148,045
)
Interest expense
 
(1,147,272
)
 
(1,126,888
)
 
(3,854,913
)
 
(3,652,111
)
Total Other Income (Expense)
 
(107,066
)
 
(890,093
)
 
(5,022,101
)
 
(3,554,782
)
Income (Loss) before income taxes
 
4,817,168

 
4,548,279

 
(1,010,928
)
 
3,635,045

Taxes
 
 
 
 
 
 
 
 
Current tax expense
 
435,756

 
104,479

 
105,020

 
276,755

Deferred tax expense (benefit)
 
(115,391
)
 
(153,342
)
 
(1,953,973
)
 
(646,857
)
Income tax expense (benefit), net
 
320,365

 
(48,863
)
 
(1,848,953
)
 
(370,102
)
Net Income
 
4,496,803

 
4,597,142

 
838,025

 
4,005,147

Less: Net Income attributable to non-controlling interest
 
410,175

 
412,004

 
410,806

 
384,221

Net Income attributable to CorEnergy Stockholders
 
$
4,086,628

 
$
4,185,138

 
$
427,219

 
$
3,620,926

Preferred dividend requirements
 
737,500

 
1,037,109

 
1,037,109

 
1,037,110

Net Income (Loss) attributable to Common Stockholders
 
$
3,349,128

 
$
3,148,029

 
$
(609,890
)
 
$
2,583,816

 
 
 
 
 
 
 
 
 
Net Income
 
$
4,496,803

 
$
4,597,142

 
$
838,025

 
$
4,005,147

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
Changes in fair value of qualifying hedges attributable to CorEnergy stockholders
 
(276,107
)
 
18,202

 
(223,176
)
 
218,576

Changes in fair value of qualifying hedges attributable to non-controlling interest
 
(64,555
)
 
4,256

 
(52,180
)
 
51,104

Net Change in Other Comprehensive Income (Loss)
 
$
(340,662
)
 
$
22,458

 
$
(275,356
)
 
$
269,680

Total Comprehensive Income
 
4,156,141

 
4,619,600

 
562,669

 
4,274,827

Less: Comprehensive income attributable to non-controlling interest
 
345,620

 
416,260

 
358,626

 
435,325

Comprehensive Income attributable to CorEnergy Stockholders
 
$
3,810,521

 
$
4,203,340

 
$
204,043

 
$
3,839,502

Earnings (Loss) Per Common Share:
 
 
 
 
 
 
 
 
Basic
 
$
0.36

 
$
0.33

 
$
(0.05
)
 
$
0.22

Diluted
 
$
0.36

 
$
0.33

 
$
(0.05
)
 
$
0.22


 
 
For the Fiscal 2014 Quarters Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
Revenue
 
 
 
 
 
 
 
 
Lease revenue
 
$
6,762,408

 
$
7,065,677

 
$
7,191,187

 
$
7,204,493

Sales revenue
 
3,259,530

 
1,813,607

 
1,741,209

 
2,894,556

Financing revenue
 
25,619

 
139,728

 
413,482

 
498,984

Transportation revenue
 

 

 

 
1,298,093

Total Revenue
 
10,047,557

 
9,019,012

 
9,345,878

 
11,896,126

Expenses
 
 
 
 
 
 
 
 
Cost of sales (excluding depreciation expense)
 
2,707,358

 
1,384,998

 
1,284,711

 
1,914,901

Depreciation, amortization and ARO accretion expense
 
3,146,978

 
3,220,253

 
3,252,604

 
3,575,420

Provision for loan losses
 

 

 

 

Transportation, maintenance and general and administrative
 

 

 

 
458,872

Operating expenses
 
222,741

 
213,533

 
210,009

 
194,627

General and administrative
 
1,432,955

 
1,334,960

 
1,841,493

 
3,263,345

Total Expenses
 
7,510,032

 
6,153,744

 
6,588,817

 
9,407,165

Operating Income
 
$
2,537,525

 
$
2,865,268

 
$
2,757,061

 
$
2,488,961

Other Income (Expense)
 
 
 
 
 
 
 
 
Net distributions and dividend income
 
$
5,056

 
$
5,988

 
$
1,688,830

 
$
136,909

Net realized and unrealized gain (loss) on other equity securities
 
1,294,182

 
2,084,026

 
(865,470
)
 
(2,978,764
)
Interest expense
 
(826,976
)
 
(819,360
)
 
(977,635
)
 
(1,051,151
)
Total Other Income (Expense)
 
472,262

 
1,270,654

 
(154,275
)
 
(3,893,006
)
Income (Loss) before income taxes
 
3,009,787

 
4,135,922

 
2,602,786

 
(1,404,045
)
Taxes
 
 
 
 
 
 
 
 
Current tax expense
 
854,075

 

 
486,054

 
2,503,808

Deferred tax expense (benefit)
 
(340,562
)
 
742,879

 
(161,171
)
 
(4,310,646
)
Income tax expense (benefit), net
 
513,513

 
742,879

 
324,883

 
(1,806,838
)
Net Income
 
2,496,274

 
3,393,043

 
2,277,903

 
402,793

Less: Net Income attributable to non-controlling interest
 
391,114

 
387,135

 
389,485

 
388,423

Net Income attributable to CorEnergy Stockholders
 
$
2,105,160

 
$
3,005,908

 
$
1,888,418

 
$
14,370

Preferred dividend requirements
 

 

 

 

Net Income (Loss) attributable to Common Stockholders
 
$
2,105,160

 
$
3,005,908

 
$
1,888,418

 
$
14,370

 
 
 
 
 
 
 
 
 
Net Income
 
$
2,496,274

 
$
3,393,043

 
$
2,277,903

 
$
402,793

Other comprehensive income (loss):
 


 


 


 


Changes in fair value of qualifying hedges attributable to CorEnergy stockholders
 
(70,620
)
 
(270,838
)
 
214,602

 
(197,245
)
Changes in fair value of qualifying hedges attributable to non-controlling interest
 
(16,511
)
 
(63,324
)
 
50,175

 
(46,120
)
Net Change in Other Comprehensive Income (Loss)
 
$
(87,131
)
 
$
(334,162
)
 
$
264,777

 
$
(243,365
)
Total Comprehensive Income
 
2,409,143

 
3,058,881

 
2,542,680

 
159,428

Less: Comprehensive income attributable to non-controlling interest
 
374,603

 
323,811

 
439,660

 
342,303

Comprehensive Income attributable to CorEnergy Stockholders
 
$
2,034,540

 
$
2,735,070

 
$
2,103,020

 
$
(182,875
)
Earnings (Loss) Per Common Share:
 


 


 


 


Basic
 
$
0.35

 
$
0.48

 
$
0.30

 
$
0.00

Diluted
 
$
0.35

 
$
0.48

 
$
0.30

 
$
0.00