Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income

v3.3.0.814
Consolidated Statements of Income and Comprehensive Income - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue        
Lease revenue $ 16,966,056 $ 7,191,187 $ 31,102,036 $ 21,019,272
Sales revenue 1,434,694 1,741,209 5,442,257 6,814,346
Financing revenue 182,604 413,482 1,511,900 578,829
Transportation revenue 3,557,096 0 10,753,810 0
Total Revenue 22,140,450 9,345,878 48,810,003 28,412,447
Expenses        
Cost of sales (excluding depreciation expense) 382,851 1,284,711 2,201,139 5,377,067
Management fees 1,716,423 813,921 4,055,919 2,359,054
Acquisition expense and professional fees 792,939 725,455 2,451,485 1,427,046
Depreciation, amortization and ARO accretion expense 5,836,665 3,252,604 13,381,483 9,619,835
Provision for loan losses 7,951,137 0 7,951,137 0
Transportation, maintenance and general and administrative 856,050 0 2,924,010 0
Operating expenses 264,812 210,009 666,845 646,283
Other expenses 328,400 302,117 804,206 823,308
Total Expenses 18,129,277 6,588,817 34,436,224 20,252,593
Operating Income 4,011,173 2,757,061 14,373,779 8,159,854
Other Income (Expense)        
Net distributions and dividend income 241,563 1,688,830 1,025,381 1,699,874
Net realized and unrealized gain (loss) on other equity securities (1,408,751) (865,470) (915,568) 2,512,738
Interest expense (3,854,913) (977,635) (6,129,073) (2,623,972)
Total Other Income (Expense) (5,022,101) (154,275) (6,019,260) 1,588,640
Income (Loss) before income taxes (1,010,928) 2,602,786 8,354,519 9,748,494
Taxes        
Current tax expense 105,020 486,054 645,255 1,340,129
Deferred tax expense (benefit) (1,953,973) (161,171) (2,222,706) 241,146
Income tax expense (benefit), net (1,848,953) 324,883 (1,577,451) 1,581,275
Net Income 838,025 2,277,903 9,931,970 8,167,219
Less: Net Income attributable to non-controlling interest 410,806 389,485 1,232,985 1,167,734
Net Income attributable to CorEnergy Stockholders 427,219 1,888,418 8,698,985 6,999,485
Preferred dividend requirements 1,037,109 0 2,811,719 0
Net Income (Loss) attributable to Common Stockholders (609,890) 1,888,418 5,887,266 6,999,485
Other comprehensive income (loss):        
Changes in fair value of qualifying hedges attributable to CorEnergy stockholders (223,176) 214,602 (481,081) (126,856)
Changes in fair value of qualifying hedges attributable to non-controlling interest (52,180) 50,175 (112,479) (29,660)
Net Change in Other Comprehensive Income (Loss) (275,356) 264,777 (593,560) (156,516)
Total Comprehensive Income 562,669 2,542,680 9,338,410 8,010,703
Less: Comprehensive income attributable to non-controlling interest 358,626 439,660 1,120,506 1,138,074
Comprehensive Income attributable to CorEnergy Stockholders $ 204,043 $ 2,103,020 $ 8,217,904 $ 6,872,629
Earnings (Loss) Per Common Share:        
Basic (in dollars per share) $ (0.01) $ 0.06 $ 0.11 $ 0.23
Diluted (in dollars per share) $ (0.01) $ 0.06 $ 0.11 $ 0.23
Weighted Average Shares of Common Stock Outstanding:        
Basic (in shares) 59,620,742 31,641,851 51,331,901 31,090,370
Diluted (in shares) 59,620,742 31,641,851 51,331,901 31,090,370
Dividends declared per share (in dollars per share) $ 0.135 $ 0.13 $ 0.4 $ 0.384