Investor Presentaiton
Reconciliation to Non-GAAP Measures
FARMLAND
PARTNERS
For the three months
ended December 31,
For the years ended
December 31,
2022
2021
2022
2021
(in thousands except per share amounts)
Net income
(Gain) on disposition of assets
Depreciation, depletion and amortization
FFO
Stock-based compensation and incentive
$
6,709 $
13,313
$
11,960 $
10,259
1,306
(5,935)
(2,641)
(9,290)
1,884
1,898
6,960
7,629
$
9,899 $
9,276 $
16,279
8,598
405
344
1,999
1,263
Deferred impact of interest rate swap terminations
469
109
582
546
Real estate related acquisition and due diligence costs
Distributions on Preferred units and stock
24
50
ווו
55
(766)
(878)
(3,210)
(10,052)
AFFO
$
10,031 $
8,901
$
15,761
$
410
AFFO per diluted weighted average share data:
AFFO weighted average common shares
55,556
46,037
52,531
36,410
Net income (loss) available to common stockholders of Farmland Partners Inc.
Income available to redeemable non-controlling interest and non-controlling
interest in operating partnership
Depreciation, depletion and amortization
$
0.11 $
0.14
$
0.16
$
(0.17)
0.02
0.15
0.08
0.48
0.03
0.04
0.13
0.21
Stock-based compensation and incentive
(Gain) on disposition of assets
0.01
0.01
0.04
0.03
0.02
(0.13)
(0.05)
(0.26)
Distributions on Preferred units and stock
AFFO per diluted weighted average share
(0.01)
(0.02)
(0.06)
(0.28)
0.18 $
0.19
$
0.30
0.01
For the three months ended
For the years ended
December 31,
December 31,
(in thousands)
Net income
Interest expense
2022
2021
2022
2021
$
6,709 $
13,313
$
11,960 $
10,259
4,682
3,955
16,143
15,929
Income tax expense
98
227
Depreciation, depletion and amortization
1,884
1,898
6,960
7,629
(Gain) on disposition of assets
1,306
(5,935)
(2,641)
(9,290)
EBITDAre
$
14,678
$
13,231 $
32,649 $
24,527
Stock-based compensation and incentive
405
344
1,999
1,263
Real estate related acquisition and due diligence costs
24
50
Adjusted EBITDAre
$
15,107
$
13,625
$
111
34,759
55
FPI
$
25,845
25
LISTED
NYSEView entire presentation