Consolidated Statements of Operations - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
| Revenue | ||||
| Lease | $ 111,725 | $ 32,915 | $ 176,775 | $ 1,208,915 |
| Total Revenue | 32,961,686 | 37,028,882 | 97,355,473 | 92,365,958 |
| Expenses | ||||
| General and administrative expense | 5,743,342 | 5,156,087 | 16,162,570 | 20,374,534 |
| Depreciation, amortization and ARO accretion | 4,028,800 | 3,690,856 | 11,997,781 | 10,337,639 |
| Loss on impairment of goodwill | 16,210,020 | 0 | 16,210,020 | 0 |
| Loss on impairment and disposal of leased property | 0 | 0 | 0 | 5,811,779 |
| Loss on termination of lease | 0 | 0 | 0 | 165,644 |
| Total Expenses | 45,014,863 | 27,654,395 | 96,244,228 | 84,375,557 |
| Operating Income (loss) | (12,053,177) | 9,374,487 | 1,111,245 | 7,990,401 |
| Other Income (expense) | ||||
| Other income | 76,050 | 4,040 | 332,615 | 366,859 |
| Interest expense | (3,483,208) | (3,351,967) | (9,972,969) | (9,578,677) |
| Loss on extinguishment of debt | 0 | 0 | 0 | (861,814) |
| Total Other Expense | (3,407,158) | (3,347,927) | (9,640,354) | (10,073,632) |
| Income (Loss) before income taxes | (15,460,335) | 6,026,560 | (8,529,109) | (2,083,231) |
| Taxes | ||||
| Current tax expense (benefit) | 35,187 | (6,927) | 343,108 | 41,313 |
| Deferred tax expense | 6,182 | 113,516 | 94,604 | 222,339 |
| Total income tax expense, net | 41,369 | 106,589 | 437,712 | 263,652 |
| Net Income (Loss) | (15,501,704) | 5,919,971 | (8,966,821) | (2,346,883) |
| Less: Net income attributable to non-controlling interest | 601,048 | 3,155,685 | 3,628,013 | 6,775,863 |
| Net Income (Loss) attributable to CorEnergy | (16,102,752) | 2,764,286 | (12,594,834) | (9,122,746) |
| Preferred stock dividends | 2,388,130 | 2,388,130 | 7,164,390 | 7,007,474 |
| Net Income (Loss) attributable to Common Stockholders - basic | $ (18,490,882) | $ 376,156 | $ (19,759,224) | $ (16,130,220) |
| Net Income (Loss) Per Common Share: | ||||
| Basic (in dollars per share) | $ (1.17) | $ 0.02 | $ (1.26) | $ (1.13) |
| Diluted (in dollars per share) | $ (1.17) | $ 0.02 | $ (1.26) | $ (1.13) |
| Weighted Average Shares of Common Stock Outstanding: | ||||
| Basic (in shares) | 15,773,469 | 15,426,226 | 15,683,331 | 14,252,305 |
| Diluted (in shares) | 15,773,469 | 15,426,226 | 15,683,331 | 14,252,305 |
| Dividends declared per share (in dollars per share) | $ 0.050 | $ 0.050 | $ 0.150 | $ 0.150 |
| Transportation and distribution | ||||
| Revenue | ||||
| Revenue from contracts with customers | $ 31,305,546 | $ 34,286,394 | $ 89,179,734 | $ 83,681,876 |
| Expenses | ||||
| Cost of revenue | 17,647,673 | 16,089,414 | 45,857,193 | 41,795,421 |
| Pipeline loss allowance subsequent sales | ||||
| Revenue | ||||
| Revenue from contracts with customers | 1,477,251 | 2,124,581 | 7,283,450 | 6,115,836 |
| Expenses | ||||
| Cost of revenue | 1,385,028 | 2,718,038 | 6,016,664 | 5,890,540 |
| Other | ||||
| Revenue | ||||
| Revenue from contracts with customers | $ 67,164 | $ 584,992 | $ 715,514 | $ 1,359,331 |
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of gain (loss) on termination of lease before expiration of lease term. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of write-downs for impairments recognized during the period for long-lived assets held for abandonment, exchange or sale. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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