Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.20.1
Consolidated Statements of Operations - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenue    
Lease revenue $ 15,746,504 $ 16,717,710
Deferred rent receivable write-off (30,105,820) 0
Total Revenue (Loss) (9,132,509) 21,622,832
Expenses    
Transportation and distribution expenses 1,375,229 1,503,143
General and administrative 3,076,143 2,870,407
Depreciation, amortization and ARO accretion expense 5,647,067 5,645,096
Loss on impairment of leased property 140,268,379 0
Total Expenses 150,366,818 10,018,646
Operating Income (Loss) (159,499,327) 11,604,186
Other Income (Expense)    
Net distributions and other income 317,820 256,615
Interest expense (2,885,583) (2,507,294)
Loss on extinguishment of debt 0 (5,039,731)
Total Other Expense (2,567,763) (7,290,410)
Income (Loss) before income taxes (162,067,090) 4,313,776
Taxes    
Current tax expense (benefit) (394,643) 353,744
Deferred tax expense 369,921 93,591
Income tax expense (benefit), net (24,722) 447,335
Net Income (Loss) attributable to CorEnergy Stockholders (162,042,368) 3,866,441
Preferred dividend requirements 2,260,793 2,314,128
Net Income (Loss) attributable to Common Stockholders $ (164,303,161) $ 1,552,313
Earnings (Loss) Per Common Share:    
Basic (in dollars per share) $ (12.04) $ 0.12
Diluted (in dollars per share) $ (12.04) $ 0.12
Weighted Average Shares of Common Stock Outstanding:    
Basic (in shares) 13,648,293 12,604,943
Diluted (in shares) 13,648,293 12,604,943
Dividends declared per share (in dollars per share) $ 0.750 $ 0.750
Transportation and distribution revenue    
Revenue    
Revenue from contracts with customers $ 5,200,500 $ 4,871,582
Financing revenue    
Revenue    
Revenue from contracts with customers $ 26,307 $ 33,540