Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income

v2.4.1.9
Consolidated Statements of Income and Comprehensive Income (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenue    
Lease revenue $ 7,336,101us-gaap_SaleLeasebackTransactionQuarterlyRentalPayments $ 6,762,408us-gaap_SaleLeasebackTransactionQuarterlyRentalPayments
Sales revenue 2,341,655us-gaap_SalesRevenueEnergyServices 3,259,530us-gaap_SalesRevenueEnergyServices
Financing revenue 660,392us-gaap_RevenueOtherFinancialServices 25,619us-gaap_RevenueOtherFinancialServices
Transportation revenue 3,649,735us-gaap_GasGatheringTransportationMarketingAndProcessingRevenue 0us-gaap_GasGatheringTransportationMarketingAndProcessingRevenue
Total Revenue 13,987,883us-gaap_Revenues 10,047,557us-gaap_Revenues
Expenses    
Cost of sales (excluding depreciation expense) 1,248,330us-gaap_CostOfGoodsSold 2,707,358us-gaap_CostOfGoodsSold
Management fees 1,171,974us-gaap_AssetManagementCosts 783,868us-gaap_AssetManagementCosts
Acquisition expense and professional fees 1,241,955us-gaap_BusinessCombinationAcquisitionRelatedCosts 415,345us-gaap_BusinessCombinationAcquisitionRelatedCosts
Depreciation and amortization expense 4,048,832us-gaap_DepreciationAmortizationAndAccretionNet 3,146,978us-gaap_DepreciationAmortizationAndAccretionNet
Transportation, maintenance and general and administrative 991,608us-gaap_GasGatheringTransportationMarketingAndProcessingCosts 0us-gaap_GasGatheringTransportationMarketingAndProcessingCosts
Operating expenses 206,360us-gaap_OtherCostAndExpenseOperating 222,741us-gaap_OtherCostAndExpenseOperating
Other expenses 154,590us-gaap_OtherNoninterestExpense 233,742us-gaap_OtherNoninterestExpense
Total Expenses 9,063,649us-gaap_CostsAndExpenses 7,510,032us-gaap_CostsAndExpenses
Operating Income 4,924,234us-gaap_OperatingIncomeLoss 2,537,525us-gaap_OperatingIncomeLoss
Other Income (Expense)    
Net distributions and dividend income 590,408us-gaap_OtherInterestAndDividendIncome 5,056us-gaap_OtherInterestAndDividendIncome
Net realized and unrealized gain on other equity securities 449,798us-gaap_MarketableSecuritiesUnrealizedGainLoss 1,294,182us-gaap_MarketableSecuritiesUnrealizedGainLoss
Interest income (expense) (1,147,272)us-gaap_InterestExpense (826,977)us-gaap_InterestExpense
Total Other Income (Expense) (107,066)us-gaap_NonoperatingIncomeExpense 472,261us-gaap_NonoperatingIncomeExpense
Income before income taxes 4,817,168us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 3,009,786us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Taxes    
Current tax expense 435,756us-gaap_CurrentIncomeTaxExpenseBenefit 854,075us-gaap_CurrentIncomeTaxExpenseBenefit
Deferred tax benefit (115,391)us-gaap_DeferredIncomeTaxExpenseBenefit (340,562)us-gaap_DeferredIncomeTaxExpenseBenefit
Income tax expense, net 320,365us-gaap_IncomeTaxExpenseBenefit 513,513us-gaap_IncomeTaxExpenseBenefit
Net Income 4,496,803us-gaap_ProfitLoss 2,496,273us-gaap_ProfitLoss
Less: Net Income attributable to non-controlling interest 410,175us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 391,114us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net Income attributable to CorEnergy Stockholders 4,086,628us-gaap_NetIncomeLoss 2,105,159us-gaap_NetIncomeLoss
Preferred dividend requirements 737,500us-gaap_PreferredStockDividendsAndOtherAdjustments 0us-gaap_PreferredStockDividendsAndOtherAdjustments
Net Income attributable to Common Stockholders 3,349,128us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic 2,105,159us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Other comprehensive income:    
Changes in fair value of qualifying hedges attributable to CorEnergy stockholders (276,107)us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent (70,620)us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
Changes in fair value of qualifying hedges attributable to non-controlling interest (64,555)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest (16,511)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
Net Change in Other Comprehensive Income (340,662)us-gaap_OtherComprehensiveIncomeLossNetOfTax (87,131)us-gaap_OtherComprehensiveIncomeLossNetOfTax
Total Comprehensive Income 4,156,141us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest 2,409,142us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
Less: Comprehensive income attributable to non-controlling interest 345,620us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest 374,603us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
Comprehensive Income attributable to CorEnergy Stockholders $ 3,810,521us-gaap_ComprehensiveIncomeNetOfTax $ 2,034,539us-gaap_ComprehensiveIncomeNetOfTax
Earnings Per Common Share:    
Basic and Diluted (in dollars per share) $ 0.07us-gaap_EarningsPerShareBasicAndDiluted $ 0.07us-gaap_EarningsPerShareBasicAndDiluted
Weighted Average Shares of Common Stock Outstanding:    
Basic and Diluted (in dollars per share) 46,613,258us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 29,973,357us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
Dividends declared per share (in dollars per share) $ 0.130us-gaap_CommonStockDividendsPerShareDeclared $ 0.125us-gaap_CommonStockDividendsPerShareDeclared