Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.20.4
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenue      
Lease revenue $ 21,351,123 $ 67,050,506 $ 72,747,362
Deferred rent receivable write-off (30,105,820) 0 0
Total Revenue 11,338,071 85,945,570 89,231,598
Expenses      
Transportation and distribution expenses $ 6,059,707 $ 5,242,244 $ 7,210,748
Cost, product and service [Extensible List] corr:TransportationAndDistributionMember corr:TransportationAndDistributionMember corr:TransportationAndDistributionMember
General and administrative $ 12,231,922 $ 10,596,848 $ 13,042,847
Depreciation, amortization and ARO accretion expense 13,654,429 22,581,942 24,947,453
Loss on impairment of leased property 140,268,379 0 0
Loss on impairment and disposal of leased property 146,537,547 0 0
Loss on termination of lease 458,297 0 0
Provision for loan gain 0 0 (36,867)
Total Expenses 319,210,281 38,421,034 45,164,181
Operating Loss (307,872,210) 47,524,536 44,067,417
Other Income (Expense)      
Net distributions and other income 471,449 1,328,853 106,795
Net realized and unrealized loss on other equity securities 0 0 (1,845,309)
Interest expense (10,301,644) (10,578,711) (12,759,010)
Gain on the sale of leased property, net 0 0 11,723,257
Gain (loss) on extinguishment of debt 11,549,968 (33,960,565) 0
Total Other Income (Expense) 1,719,773 (43,210,423) (2,774,267)
Income (loss) before income taxes (306,152,437) 4,314,113 41,293,150
Taxes      
Current tax expense (benefit) (395,843) (120,024) (585,386)
Deferred tax expense (benefit) 310,985 354,642 (1,833,340)
Income tax expense (benefit), net (84,858) 234,618 (2,418,726)
Net Income (loss) attributable to CorEnergy Stockholders (306,067,579) 4,079,495 43,711,876
Preferred dividend requirements 9,189,809 9,255,468 9,548,377
Net Income (loss) attributable to Common Stockholders $ (315,257,388) $ (5,175,973) $ 34,163,499
Earnings (Loss) Per Common Share:      
Basic (in dollars per share) $ (23.09) $ (0.40) $ 2.86
Diluted (in dollars per share) $ (23.09) $ (0.40) $ 2.79
Weighted Average Shares of Common Stock Outstanding:      
Basic (in shares) 13,650,718 13,041,613 11,935,021
Diluted (in shares) 13,650,718 13,041,613 15,389,180
Dividends declared per share (in dollars per share) $ 0.900 $ 3.000 $ 3.000
Transportation and distribution revenue      
Revenue      
Revenue $ 19,972,351 $ 18,778,237 $ 16,484,236
Financing revenue      
Revenue      
Revenue $ 120,417 $ 116,827 $ 0