Farmland partners inc. (FPI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income

419

9,780

-1,463

6,524

9

8,398

4,158

981

503

6,528

2,611

2,020

-2,001

6,512

99

1,318

-1,930

883

858

145

-197

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization

2,000

2,026

2,087

2,092

2,115

2,134

2,154

2,126

2,130

2,141

2,107

2,057

1,487

452

419

366

317

280

237

203

173

Amortization of discounts/premiums on debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60

Amortization of deferred financing fees and discounts/premiums on debt

74

-

75

87

85

-

88

116

105

-

59

38

65

-

15

4

200

-

-

-

-

Amortization of net origination fees related to notes receivable

-

-

-

-

-1

0

0

-1

-4

-5

-6

-4

-1

0

1

-1

-3

-

-

-

-

Amortization of below market leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43

-

-

-

0

Stock based compensation, net of forfeitures

242

267

385

382

394

515

405

398

331

301

303

360

428

335

331

315

243

233

229

241

239

Loss (gain) on disposition of assets

-86

-50

-18

7,491

418

-204

2,951

143

-8

-152

44

-95

3

-

-

-

-

-

-

-

-

Bad debt expense

41

201

2

162

177

379

-59

199

357

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Increase in accounts receivable

294

-330

731

-3,396

1,735

1,714

816

-1,382

-726

3,844

-1,160

538

-2,117

2,201

179

230

1,018

-

-

-

-

(Increase) decrease in accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-157

Increase in interest receivable

49

153

158

286

209

459

-35

-43

103

-225

546

62

-52

-27

57

45

4

-

-

-

-

Increase in other assets

-759

1,498

204

-506

-1,093

1,839

-145

-306

-359

459

-59

-330

822

3

133

-22

192

-103

15

63

66

(Decrease) in inventory

69

353

488

701

-278

46

-125

50

245

32

17

-123

-183

-95

-13

166

-24

-

-

-

-

(Decrease) Increase in accrued interest

317

-576

-839

500

-327

-1,536

1,673

795

171

307

-193

1,203

338

-89

149

-61

857

-775

898

63

257

Decrease in accrued expenses

-1,306

1,803

556

245

-187

1,027

1,247

-504

369

-949

-102

-497

-13,759

614

1,006

969

9

229

166

72

-259

(Decrease) Increase in deferred revenue

10,109

-176

-5,007

-7,027

12,096

-40

-7,269

-7,156

10,584

-136

-6,536

-4,586

9,094

-4,729

-2,960

-3,374

7,234

-2,465

-2,597

3,959

4,549

(Decrease) Increase in accrued property taxes

538

-757

617

-93

460

-697

595

535

-215

65

-669

156

211

256

63

-22

78

202

178

58

37

Net cash provided by (used in) operating activities

12,867

11,017

-5,150

-1,703

13,830

6,370

-470

-973

15,076

4,330

-1,691

901

-2,611

-

-

-

-

-

-

-

-

CASH FLOWS FROM INVESTING ACTIVITIES
Net cash (used in) provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,780

-

-884

4,588

4,950

Real estate acquisitions

-

-

-

-

-

451

5,883

50

26,770

113,486

1,005

12,455

79,220

9,388

16,820

12,381

93,187

10,399

14,352

73,396

11,162

Real estate and other improvements

1,148

1,509

834

2,057

2,183

862

2,953

3,661

5,309

3,926

6,380

7,323

3,947

659

1,303

3,010

698

1,226

1,130

3,145

2,073

Principal receipts on notes receivable

441

743

303

5,326

307

908

475

0

3,469

-

-

-

801

0

0

0

50

-

-

-

-

Issuance of notes receivable

5

128

197

1,210

246

128

421

863

5,250

2,700

769

846

2,255

-

-

-

-

-

-

-

-

Casualty loss insurance recovery

-

-

-

-

-

1

-7

-23

21

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of property

167

-1

-31

29,447

4,725

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-545

-2,298

-759

31,506

2,603

-199

20,771

-2,597

-33,839

-119,907

-8,154

-21,425

-84,621

-

-

-

-

-

-

-

-

CASH FLOWS FROM FINANCING ACTIVITIES
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-93,835

-

-17,260

-76,541

-13,235

Borrowings from mortgage notes payable

-

-

-

-

-

-

-

-

-

110,400

0

48,872

52,918

6,600

5,102

36,685

159,000

-

-

-

-

Repayments on mortgage notes payable

42

43

42

9,167

2,133

42

10,248

1,100

118

-

-

-

-

0

0

28,750

56,000

3,000

0

26

6,102

Participating preferred stock repurchased

977

-1

46

687

164

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments associated with the shelf registration

-

-

-

-

-

-

-

-

29

-

-

-

-

-

-

-

-

-

-

-

-

Common stock repurchased

1,397

823

1,714

12,926

6,540

6,306

7,775

0

6,517

-

-

-

-

-

-

-

-

-

-

-

-

Payment of offering costs

-

-

-

-

-

-

-

-

-

1

298

183

91

-

-

-

-

-

-

-

-

Common stock repurchased

1,397

823

1,714

12,926

6,540

6,306

7,775

0

6,517

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

130

-

-

-

-

-32

1

157

78

476

158

114

545

179

50

220

667

15

70

112

42

Dividends on common stock

1,498

1,521

1,504

1,393

1,759

1,801

4,251

4,131

4,250

4,153

4,185

4,138

2,212

1,791

1,688

1,594

1,527

1,528

1,099

904

897

Dividends on Series A preferred units

-

-

-

-

-

-

-

-

3,510

0

0

0

2,915

-

-

-

-

-

-

-

-

Distributions to non-controlling interest in operating partnership

95

95

95

162

78

83

525

643

605

737

814

854

726

722

812

810

533

533

533

225

226

Net cash used in financing activities

-9,889

-4,721

-7,887

-26,594

-14,174

-13,088

-22,907

10,318

-15,107

39,815

109,721

43,583

46,429

-

-

-

-

-

-

-

-

NET DECREASE IN CASH

2,433

3,998

-13,796

3,209

2,259

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100,273

-

39,828

74,589

-7,267

NET INCREASE IN CASH

-

-

-

-

-

-

-

-

-33,870

-

99,876

23,059

-40,803

29,977

-15,275

-3,268

12,218

-18,990

21,684

2,636

-15,552

Cash paid during period for interest

4,352

5,186

5,616

4,634

5,157

6,204

3,072

3,624

4,137

3,336

3,779

2,251

2,461

-

-

-

-

-

-

-

-

Cash paid during period for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,804

-

467

964

456

SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Dividend payable, common stock

1,498

-

-

-

1,592

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend payable, common units

95

-

-

-

120

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to real estate improvements included in accrued expenses

-

-

148

109

155

164

-440

-36

662

220

-131

-854

2,140

822

119

-36

51

22

-70

237

240

Right of Use Asset

198

-

-

-

166

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease Liability

198

-

-

-

166

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of equity and contributions from redeemable non-controlling interests and non-controlling interest in operating partnership in conjunction with acquisitions

-

-

-

-

-

-

-

-

-

-1

0

332

181,178

766

0

0

145,826

-

-

-

-

Deposits included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40

Issuance of common stock in conjunction with acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

713

Real estate acquisition costs included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-41

42

-

-

29

6

-

-107

-122

240

Property tax liability assumed in acquisitions

-

-

-

-

-

-

-

-

5

-

-

-

-

-

-

-

-

-

-

-

-

Financing fees included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35

3

-

-50

-7

61

Property tax liability assumed in acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

47

3

Deferred financing costs included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

44

60

-

-

-

-

-

-

-

-

Offering costs included in accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-88

119

-

-

-

-

-

-

-

-

Series A Preferred Units
Dividends on Series A preferred units

3,510

-

0

10

3,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend payable, common units

900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred distributions accrued

878

-

-

-

878

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions payable, preferred units

-

-

-

-

-

-

-

877

878

-

-

-

-

-

-

-

-

-

-

-

-

Series B Participating Preferred Stock
Dividends on Series A preferred units

2,240

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred distributions accrued

-

-

-

-

2,249

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions payable, preferred units

-

-

-

-

-

-

-

-

2,264

-

-

-

-

-

-

-

-

-

-

-

-

Common Unit Holders
Distributions payable, common units

-

-

-

-

-

-

-

-

584

-

-

-

-

-

-

-

-

-

-

-

-

Common stock
Dividend payable

-

-

-

-

-

-

-

0

4,191

-

-

-

-

-

-

-

-

-

-

-

-