Farmland Partners Inc

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

FPI$8.80-0.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Balance Sheets as of December 31, 2023 and 2022

(in thousands, except par value and share data)


· · December 31, · · December 31,
	2023		2022
ASSETS
Land, at cost		$869,848		$980,521
Grain facilities		12,222		11,349
Groundwater		11,472		17,682
Irrigation improvements		41,988		50,097
Drainage improvements		10,315		12,543
Permanent plantings		39,620		50,394
Other		4,696		6,967
Construction in progress		4,453		14,810
Real estate, at cost		994,614		1,144,363
Less accumulated depreciation		(33,083)		(38,447)
Total real estate, net		961,531		1,105,916
Deposits		426		148
Cash and cash equivalents		5,489		7,654
Assets held for sale		28		33
Loans and financing receivables, net		31,020		21,921
Right of use asset		399		325
Deferred offering costs		—		63
Accounts receivable, net		7,743		7,055
Derivative asset		1,707		2,084
Inventory		2,335		2,808
Equity method investments		4,136		4,185
Intangible assets, net		2,035		2,055
Goodwill		2,706		2,706
Prepaid and other assets		2,447		3,196
TOTAL ASSETS		$1,022,002		$1,160,149

LIABILITIES AND EQUITY
LIABILITIES
Mortgage notes and bonds payable, net		$360,859		$436,875
Lease liability		399		325
Dividends payable		13,286		3,333
Accrued interest		4,747		4,135
Accrued property taxes		1,898		2,008
Deferred revenue		2,149		44
Accrued expenses		7,854		9,215
Total liabilities		391,192		455,935

Commitments and contingencies (See Note 8)

Redeemable non-controlling interest in operating partnership, Series A preferred units		101,970		110,210

EQUITY
Common stock, $0.01 par value, 500,000,000 shares authorized; 48,002,716 shares issued and outstanding at December 31, 2023, and 54,318,312 shares issued and outstanding at December 31, 2022		466		531
Additional paid in capital		577,253		647,346
Retained earnings		31,411		3,567
Cumulative dividends		(95,939)		(73,964)
Other comprehensive income		2,691		3,306
Non-controlling interests in operating partnership		12,958		13,218
Total equity		528,840		594,004

TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS IN OPERATING PARTNERSHIP AND EQUITY		$1,022,002		$1,160,149

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.