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v3.25.4

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2025 | Dec. 31, 2024
OPERATING REVENUES: |  |
Rental income | $ 35,929 | $ 47,119
Total operating revenues | 52,178 | 58,226
OPERATING EXPENSES |  |
Depreciation, depletion and amortization | 4,168 | 5,588
Property operating expenses | 5,641 | 7,368
Cost of goods sold | 4,622 | 3,937
Acquisition and due diligence costs | 2 | 28
General and administrative expenses | 11,724 | 14,071
Legal and accounting | 2,928 | 1,654
Impairment of assets | 17,821 | 790
Other operating expenses | 39 | 103
Total operating expenses | 46,945 | 33,539
OTHER (INCOME) EXPENSE: |  |
Other (income) | (493) | (123)
(Income) from equity method investment | (194) | (125)
(Gain) on disposition of assets, net | (35,864) | (54,148)
(Income) from forfeited deposits |  | (1,205)
Interest expense | 9,627 | 18,854
Total other (income) | (26,924) | (36,747)
Net income before income tax benefit | 32,157 | 61,434
Income tax benefit | (15) | (16)
NET INCOME | 32,172 | 61,450
Net (income) attributable to non-controlling interests in operating partnership | (627) | (1,539)
Net income attributable to the Company | 31,545 | 59,911
Distributions on Series A Preferred Units | (2,583) | (2,970)
Net income available to common stockholders of Farmland Partners Inc. | $ 28,797 | $ 56,428
Basic and diluted per common share data: |  |
Basic net income available to common stockholders | $ 0.65 | $ 1.19
Diluted net income available to common stockholders | $ 0.61 | $ 1.06
Basic weighted average common shares outstanding | 44,196 | 47,546
Diluted weighted average common shares outstanding | 51,255 | 55,987
Dividends declared per common share - regular and special | $ 0.44 | $ 1.39
Performance-based unvested restricted shares |  |
OTHER (INCOME) EXPENSE: |  |
Dividend equivalent rights or nonforfeitable distributions allocated to unvested restricted shares | $ (29) | $ (53)
Time-based unvested restricted shares |  |
OTHER (INCOME) EXPENSE: |  |
Dividend equivalent rights or nonforfeitable distributions allocated to unvested restricted shares | (136) | (460)
Crop sales |  |
OPERATING REVENUES: |  |
Revenue | 5,521 | 5,027
Other revenue |  |
OPERATING REVENUES: |  |
Revenue | $ 10,728 | $ 6,080

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