Farmland Partners Inc
NYSE:FPI
Income Statement
Earnings Waterfall
Farmland Partners Inc
Income Statement
Farmland Partners Inc
| Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
1
|
1
|
1
|
1
|
1
|
1
|
2
|
3
|
4
|
5
|
8
|
9
|
9
|
10
|
9
|
10
|
12
|
14
|
15
|
16
|
18
|
19
|
19
|
20
|
20
|
20
|
19
|
19
|
18
|
18
|
17
|
17
|
16
|
16
|
16
|
16
|
15
|
16
|
17
|
19
|
22
|
23
|
23
|
22
|
21
|
19
|
16
|
14
|
10
|
10
|
|
| Revenue |
2
N/A
|
2
+2%
|
2
+6%
|
3
+8%
|
3
+25%
|
4
+26%
|
6
+33%
|
8
+37%
|
11
+38%
|
14
+29%
|
16
+19%
|
19
+19%
|
22
+14%
|
31
+39%
|
33
+8%
|
39
+16%
|
44
+13%
|
46
+5%
|
50
+9%
|
50
0%
|
51
+1%
|
56
+11%
|
56
-1%
|
55
-1%
|
53
-5%
|
54
+2%
|
54
+1%
|
54
-1%
|
55
+1%
|
51
-7%
|
51
0%
|
50
-1%
|
50
-1%
|
52
+4%
|
54
+4%
|
56
+4%
|
59
+5%
|
61
+3%
|
60
-2%
|
59
-1%
|
58
-3%
|
57
0%
|
57
-1%
|
57
0%
|
58
+3%
|
58
0%
|
56
-3%
|
55
-3%
|
53
-4%
|
52
-1%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(4)
|
(4)
|
(5)
|
(6)
|
(6)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(10)
|
(11)
|
(11)
|
(10)
|
(10)
|
(9)
|
(9)
|
(10)
|
(11)
|
(12)
|
(14)
|
(14)
|
(14)
|
(13)
|
(13)
|
(13)
|
(12)
|
(13)
|
(11)
|
(11)
|
(12)
|
(11)
|
(10)
|
|
| Gross Profit |
2
N/A
|
2
+34%
|
2
+4%
|
3
+5%
|
3
+25%
|
4
+26%
|
5
+32%
|
7
+36%
|
10
+37%
|
13
+30%
|
15
+18%
|
18
+19%
|
20
+14%
|
29
+40%
|
30
+4%
|
34
+16%
|
39
+12%
|
40
+4%
|
44
+10%
|
44
-2%
|
44
+1%
|
48
+10%
|
48
-1%
|
47
-1%
|
44
-7%
|
45
+2%
|
45
+1%
|
44
-2%
|
44
-1%
|
40
-9%
|
40
+0%
|
40
-1%
|
40
+1%
|
43
+7%
|
44
+3%
|
45
+3%
|
47
+4%
|
47
+0%
|
46
-2%
|
45
-2%
|
45
-1%
|
44
-2%
|
44
+0%
|
45
+1%
|
46
+2%
|
47
+3%
|
45
-3%
|
43
-4%
|
42
-4%
|
42
+1%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(0)
|
(1)
|
(1)
|
(2)
|
(3)
|
(3)
|
(4)
|
(5)
|
(6)
|
(6)
|
(7)
|
(8)
|
(9)
|
(10)
|
(12)
|
(15)
|
(16)
|
(17)
|
(17)
|
(17)
|
(17)
|
(18)
|
(18)
|
(19)
|
(19)
|
(18)
|
(18)
|
(17)
|
(16)
|
(18)
|
(20)
|
(22)
|
(25)
|
(26)
|
(26)
|
(25)
|
(23)
|
(22)
|
(21)
|
(20)
|
(21)
|
(20)
|
(20)
|
(20)
|
(20)
|
(21)
|
(21)
|
(20)
|
(19)
|
(19)
|
|
| Selling, General & Administrative |
(0)
|
(1)
|
(1)
|
(2)
|
(2)
|
(3)
|
(4)
|
(4)
|
(5)
|
(5)
|
(6)
|
(7)
|
(7)
|
(8)
|
(9)
|
(10)
|
(10)
|
(9)
|
(9)
|
(8)
|
(9)
|
(10)
|
(9)
|
(10)
|
(9)
|
(10)
|
(10)
|
(9)
|
(9)
|
(10)
|
(12)
|
(15)
|
(17)
|
(18)
|
(18)
|
(17)
|
(16)
|
(15)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(14)
|
(14)
|
(16)
|
(16)
|
(15)
|
(15)
|
(15)
|
|
| Depreciation & Amortization |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(3)
|
(4)
|
(6)
|
(8)
|
(8)
|
(9)
|
(9)
|
(9)
|
(9)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(8)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(7)
|
(7)
|
(6)
|
(6)
|
(6)
|
(5)
|
(5)
|
(5)
|
(4)
|
|
| Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
0
|
0
|
0
|
1
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Operating Income |
2
N/A
|
1
-34%
|
1
-2%
|
1
-55%
|
0
-28%
|
1
+70%
|
1
+16%
|
2
+168%
|
4
+82%
|
6
+53%
|
8
+21%
|
10
+26%
|
11
+17%
|
18
+58%
|
17
-4%
|
20
+14%
|
22
+12%
|
23
+5%
|
27
+16%
|
27
-2%
|
27
0%
|
30
+13%
|
29
-1%
|
28
-4%
|
25
-10%
|
26
+4%
|
27
+3%
|
27
-1%
|
27
+1%
|
22
-18%
|
20
-10%
|
17
-14%
|
15
-13%
|
17
+11%
|
18
+8%
|
21
+14%
|
24
+16%
|
25
+5%
|
26
+2%
|
25
-3%
|
24
-4%
|
24
-1%
|
24
+1%
|
25
+2%
|
26
+6%
|
26
-2%
|
24
-5%
|
24
-2%
|
22
-5%
|
23
+3%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(8)
|
(9)
|
(9)
|
(10)
|
(9)
|
(10)
|
(12)
|
(14)
|
(15)
|
(16)
|
(18)
|
(19)
|
(19)
|
(20)
|
(20)
|
(20)
|
(19)
|
(19)
|
(18)
|
(18)
|
(17)
|
(17)
|
(16)
|
(16)
|
(16)
|
(16)
|
(15)
|
(16)
|
(17)
|
(19)
|
(22)
|
(23)
|
(23)
|
(22)
|
(21)
|
(19)
|
(16)
|
(14)
|
(10)
|
(9)
|
|
| Non-Reccuring Items |
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(2)
|
(3)
|
(3)
|
(3)
|
(2)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
0
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(4)
|
(6)
|
(5)
|
(5)
|
(1)
|
0
|
(1)
|
(18)
|
(19)
|
(18)
|
|
| Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
3
|
3
|
3
|
11
|
8
|
8
|
7
|
1
|
2
|
3
|
6
|
6
|
4
|
9
|
7
|
10
|
10
|
3
|
4
|
12
|
22
|
36
|
34
|
23
|
15
|
54
|
55
|
79
|
77
|
36
|
|
| Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Pre-Tax Income |
1
N/A
|
0
-96%
|
(0)
N/A
|
(1)
-7 600%
|
(1)
-18%
|
(1)
+26%
|
(1)
-51%
|
(0)
+67%
|
1
N/A
|
2
+240%
|
(0)
N/A
|
1
N/A
|
0
-58%
|
6
+1 152%
|
6
-1%
|
7
+12%
|
9
+36%
|
9
+1%
|
12
+27%
|
11
-9%
|
12
+15%
|
14
+15%
|
14
-3%
|
19
+41%
|
13
-29%
|
15
+10%
|
15
+3%
|
9
-42%
|
11
+23%
|
8
-31%
|
10
+27%
|
7
-32%
|
3
-49%
|
10
+209%
|
9
-13%
|
15
+67%
|
19
+26%
|
12
-35%
|
13
+5%
|
18
+38%
|
21
+17%
|
32
+53%
|
31
-1%
|
21
-32%
|
19
-11%
|
61
+224%
|
62
+1%
|
72
+16%
|
71
-2%
|
32
-54%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
1
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
1
|
2
|
(0)
|
1
|
0
|
6
|
6
|
7
|
9
|
9
|
12
|
11
|
12
|
14
|
14
|
19
|
13
|
15
|
15
|
9
|
11
|
8
|
10
|
7
|
3
|
10
|
9
|
15
|
19
|
12
|
13
|
17
|
21
|
32
|
31
|
21
|
19
|
61
|
62
|
72
|
71
|
32
|
|
| Income to Minority Interest |
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(2)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(0)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
|
| Net Income (Common) |
1
N/A
|
0
-96%
|
(0)
N/A
|
(1)
-429%
|
(1)
-22%
|
(1)
+29%
|
(1)
-27%
|
(0)
+44%
|
0
N/A
|
1
+2 600%
|
(1)
N/A
|
(1)
-1%
|
(2)
-166%
|
1
N/A
|
0
-65%
|
1
+195%
|
2
+88%
|
1
-60%
|
1
-22%
|
(2)
N/A
|
(2)
+11%
|
(0)
+80%
|
(1)
-95%
|
4
N/A
|
(1)
N/A
|
1
N/A
|
2
+31%
|
(4)
N/A
|
(2)
+47%
|
(5)
-143%
|
(3)
+38%
|
(6)
-88%
|
(9)
-50%
|
(6)
+36%
|
(5)
+17%
|
3
N/A
|
9
+199%
|
8
-6%
|
9
+7%
|
14
+55%
|
17
+22%
|
28
+63%
|
28
-1%
|
18
-35%
|
15
-14%
|
56
+268%
|
57
+1%
|
67
+17%
|
66
-2%
|
29
-56%
|
|
| EPS (Diluted) |
0.16
N/A
|
0.01
-94%
|
-0.05
N/A
|
-0.23
-360%
|
-0.14
+39%
|
-0.15
-7%
|
-0.1
+33%
|
-0.05
+50%
|
-0.01
+80%
|
0.08
N/A
|
-0.07
N/A
|
-0.06
+14%
|
-0.16
-167%
|
0.09
N/A
|
0.01
-89%
|
0.03
+200%
|
0.06
+100%
|
0.03
-50%
|
0.03
N/A
|
-0.06
N/A
|
-0.05
+17%
|
-0.01
+80%
|
-0.02
-100%
|
0.11
N/A
|
-0.01
N/A
|
0.04
N/A
|
0.05
+25%
|
-0.14
N/A
|
-0.08
+43%
|
-0.18
-125%
|
-0.11
+39%
|
-0.2
-82%
|
-0.28
-40%
|
-0.17
+39%
|
-0.09
+47%
|
0.05
N/A
|
0.16
+220%
|
0.16
N/A
|
0.18
+12%
|
0.23
+28%
|
0.35
+52%
|
0.48
+37%
|
0.57
+19%
|
0.37
-35%
|
0.32
-14%
|
1.01
+216%
|
1.25
+24%
|
1.23
-2%
|
1.51
+23%
|
0.56
-63%
|
|