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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue        
Sales of systems $ 0 $ 0 $ 24,296,220 $ 18,861,570
Contingent rental income 1,240 244,916 274,676 674,651
Total revenue 1,240 244,916 24,570,896 19,536,221
Cost of sales        
Cost of systems and contingent rental income 2,719 0 21,323,089 14,573,699
Total cost of sales 2,719 0 21,323,089 14,573,699
Gross profit (loss) (1,479) 244,916 3,247,807 4,962,522
Interest income on sales-type leases 5,167,974 7,068,142 17,989,599 19,489,142
Total operating income 5,166,495 7,313,058 21,237,406 24,451,664
Operating expenses        
General and administrative 543,078 855,490 1,776,101 2,463,693
Total operating expenses 543,078 855,490 1,776,101 2,463,693
Income from operations 4,623,417 6,457,568 19,461,305 21,987,971
Non-operating income (expenses)        
Interest income 53,082 23,269 106,898 80,069
Interest expense (590,740) (610,140) (2,393,424) (2,471,733)
Gain on systems repurchase from Jitie and Datong 0 0 4,561,430 0
Other income (expenses) (29,412) 458,806 18,399 (359,417)
Total non-operating income (expenses), net (567,070) (128,065) 2,293,303 (2,751,081)
Income before income tax 4,056,347 6,329,503 21,754,608 19,236,890
Income tax expense 796,663 1,583,868 3,096,126 4,823,037
Income before noncontrolling interest 3,259,684 4,745,635 18,658,482 14,413,853
Less: loss attributable to noncontrolling interest (6,907) (21,457) (23,024) (65,321)
Net income attributable to China Recycling Energy Corporation 3,266,591 4,767,092 18,681,506 14,479,174
Other comprehensive items        
Foreign currency translation gain (loss) attributable to China Recycling Energy Corporation (8,713,755) 121,422 (8,494,720) (1,352,851)
Foreign currency translation loss attributable to noncontrolling interest (9,290) (156) (9,103) (3,044)
Comprehensive income (loss) attributable to China Recycling Energy Corporation (5,447,164) 4,888,514 10,186,786 13,126,323
Comprehensive loss attributable to noncontrolling interest $ (16,196) $ (21,613) $ (32,127) $ (68,365)
Basic weighted average shares outstanding (in shares) 83,084,035 73,088,178 83,080,189 65,117,458
Diluted weighted average shares outstanding (in shares) 83,084,035 73,088,178 83,080,189 65,156,367
Basic earnings per share (in dollars per share) $ 0.04 $ 0.07 $ 0.22 $ 0.22
Diluted earnings per share (in dollars per share) $ 0.04 $ 0.07 $ 0.22 $ 0.22