| Schedule of unaudited pro forma financial information |
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For the three months ended
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For the six months ended
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($ in thousands)
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June 30,
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June 30,
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Proforma
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2017
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2016
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2017
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2016
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Revenue
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$
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11,460
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$
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6,031
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$
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18,609
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$
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10,723
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Pro forma estimate(1)
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-
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4,305
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993
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7,098
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Total operating revenue
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$
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11,460
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$
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10,336
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$
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19,602
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$
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17,821
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Net income (loss)
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$
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2,021
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$
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1,317
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$
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19
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$
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(612)
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Pro forma estimate
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-
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2,742
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(367)
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1,710
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Total net income (loss)
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$
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2,021
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$
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4,059
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$
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(348)
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$
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1,098
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Net loss available to common stockholders of Farmland Partners Inc.
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$
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773
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$
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1,915
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$
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(2,042)
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$
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(377)
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Earnings per share basic and diluted
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Income (loss) per basic share attributable to common stockholders
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$
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0.02
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$
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0.07
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$
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(0.06)
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$
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(0.01)
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Income (loss) per diluted share attributable to common stockholders
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$
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0.02
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$
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0.07
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$
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(0.06)
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$
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(0.01)
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Weighted-average number of common shares - basic
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31,927
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26,598
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31,927
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26,598
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Weighted-average number of common shares - diluted
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31,927
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26,598
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31,927
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26,598
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(1)
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Represents a linear extrapolation of revenues over the three and six months ended June 30, 2017 and 2016 and therefore does not take into account the irregularity of certain of the Company's revenue components, such as crop share lease payments. |
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| Schedule of allocation of purchase price for farms acquired |
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($ in thousands)
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Land, at cost
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$
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180,309
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Irrigation improvements
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26,045
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Permanent plantings
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48,308
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Buildings
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1,493
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In-place leases(1)
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1,139
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Lease origination costs
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264
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Cash
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3,832
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Other
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1,250
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Inventory
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99
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Accrued expenses
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(16,595)
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Gross Total Consideration
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246,144
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Mortgage notes and bonds payable, net
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(75,000)
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Total Consideration
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$
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171,144
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(1)
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Weighted average amortization period of the in-place lease liability is 3 years. |
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