2021 Q4 Form 10-K Financial Statement

#000155837022002442 Filed on March 01, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021
Revenue $20.05M $10.11M $51.74M
YoY Change 11.88% -4.71% 2.07%
Cost Of Revenue $1.890M $2.410M $8.856M
YoY Change -22.86% -26.75% -17.54%
Gross Profit $18.16M $7.695M $42.88M
YoY Change 17.44% 5.27% 7.34%
Gross Profit Margin 90.57% 76.15% 82.88%
Selling, General & Admin $4.856M $4.345M $18.36M
YoY Change 28.81% 158.63% 90.4%
% of Gross Profit 26.75% 56.47% 42.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.898M $1.911M $7.629M
YoY Change -4.62% -3.44% -4.3%
% of Gross Profit 10.45% 24.83% 17.79%
Operating Expenses $8.720M $8.671M $34.93M
YoY Change 6.13% 24.67% 23.15%
Operating Profit $9.436M $1.434M $16.81M
YoY Change 30.26% -60.7% -24.7%
Interest Expense -$3.951M $4.014M $15.93M
YoY Change -4.57% -9.0% -9.89%
% of Operating Profit -41.87% 279.92% 94.74%
Other Income/Expense, Net $1.990M -$4.103M -$6.554M
YoY Change -159.87% 32.87% -55.71%
Pretax Income $13.32M -$2.669M $10.26M
YoY Change 108.81% -575.76% 36.24%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $13.32M -$2.554M $9.991M
YoY Change 108.81% -584.63% 40.34%
Net Earnings / Revenue 66.43% -25.27% 19.31%
Basic Earnings Per Share $0.14 -$0.17 -$0.17
Diluted Earnings Per Share $0.12 -$0.17 -$0.17
COMMON SHARES
Basic Shares Outstanding 44.39M 32.55M 34.64M
Diluted Shares Outstanding 54.52M 32.55M 34.64M

Balance Sheet

Concept 2021 Q4 2021 Q3 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.17M $21.37M $30.17M
YoY Change 10.92% 201.03% 10.92%
Cash & Equivalents $30.17M $21.37M
Short-Term Investments
Other Short-Term Assets $3.392M $1.919M $3.392M
YoY Change 16.97% 27.93% 16.97%
Inventory $3.059M $1.705M $3.059M
Prepaid Expenses
Receivables $4.900M $7.221M $4.900M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $41.52M $32.22M $41.52M
YoY Change 17.63% 94.08% 17.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.065B $1.052B $1.065B
YoY Change 1.14% -0.79% 1.14%
Goodwill $2.706M
YoY Change
Intangibles $1.915M
YoY Change
Long-Term Investments $3.427M $3.424M $3.485M
YoY Change
Other Assets $570.0K $616.0K $570.0K
YoY Change 470.0% 516.0% 470.0%
Total Long-Term Assets $1.080B $1.065B $1.080B
YoY Change 2.3% 0.14% 2.3%
TOTAL ASSETS
Total Short-Term Assets $41.52M $32.22M $41.52M
Total Long-Term Assets $1.080B $1.065B $1.080B
Total Assets $1.122B $1.097B $1.122B
YoY Change 2.8% 1.58% 2.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $14.44M $18.60M $14.44M
YoY Change 6.21% 37.78% 6.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.79M $20.32M $16.79M
YoY Change 10.43% 34.54% 10.43%
LONG-TERM LIABILITIES
Long-Term Debt $511.3M $499.5M $511.3M
YoY Change 0.93% -1.74% 0.93%
Other Long-Term Liabilities $830.0K $1.270M $830.0K
YoY Change -71.38% -60.31% -71.38%
Total Long-Term Liabilities $512.2M $500.8M $512.2M
YoY Change 0.52% -2.11% 0.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.79M $20.32M $16.79M
Total Long-Term Liabilities $512.2M $500.8M $512.2M
Total Liabilities $528.9M $521.1M $663.2M
YoY Change 0.79% -1.06% 0.3%
SHAREHOLDERS EQUITY
Retained Earnings -$4.739M -$11.07M
YoY Change -556.99% 472.18%
Common Stock $524.6M $375.3M
YoY Change 51.55% 12.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $458.3M $443.5M $458.3M
YoY Change
Total Liabilities & Shareholders Equity $1.122B $1.097B $1.122B
YoY Change 2.8% 1.58% 2.8%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021
OPERATING ACTIVITIES
Net Income $13.32M -$2.554M $9.991M
YoY Change 108.81% -584.63% 40.34%
Depreciation, Depletion And Amortization $1.898M $1.911M $7.629M
YoY Change -4.62% -3.44% -4.3%
Cash From Operating Activities $6.618M -$6.979M $7.856M
YoY Change -30.85% -3977.22% -60.17%
INVESTING ACTIVITIES
Capital Expenditures -$50.70M -$1.838M -$83.89M
YoY Change 7581.52% 440.59% 2249.92%
Acquisitions $856.0K
YoY Change
Other Investing Activities $41.07M -$4.601M $65.12M
YoY Change 481.71% -177.98% 192.82%
Cash From Investing Activities -$9.629M -$6.439M -$18.77M
YoY Change -250.45% -215.81% -200.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.81M -5.368M 13.87M
YoY Change 184.55% -47.58% -158.42%
NET CHANGE
Cash From Operating Activities 6.618M -6.979M 7.856M
Cash From Investing Activities -9.629M -6.439M -18.77M
Cash From Financing Activities 11.81M -5.368M 13.87M
Net Change In Cash 8.798M -18.79M 2.954M
YoY Change -56.27% 317.47% -79.84%
FREE CASH FLOW
Cash From Operating Activities $6.618M -$6.979M $7.856M
Capital Expenditures -$50.70M -$1.838M -$83.89M
Free Cash Flow $57.32M -$5.141M $91.75M
YoY Change 460.27% -1088.65% 293.84%

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29376000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34641000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29376000
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2020 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2021 us-gaap Profit Loss
ProfitLoss
10259000
CY2020 us-gaap Profit Loss
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7530000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Reclassification For Discontinuance Before Tax
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-983000
CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Reclassification For Discontinuance Before Tax
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-846000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
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1676000
CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-1582000
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
12650000
CY2020 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6383000
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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313546000
CY2020 fpi Income Loss From Continuing Operations Before Income Taxes And Redeemable Non Controlling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesAndRedeemableNonControllingInterest
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CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020 us-gaap Dividends
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CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2020 us-gaap Stock Repurchased And Retired During Period Value
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021 fpi Income Loss From Continuing Operations Before Income Taxes And Redeemable Non Controlling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesAndRedeemableNonControllingInterest
10259000
CY2021 us-gaap Stock Issued During Period Value New Issues
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CY2021 fpi Stock Issued During Period Value Business Combination
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CY2021 fpi Stock Issued During Period Value Redemption Of Preferred Stock
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1263000
CY2021 us-gaap Dividends
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CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020 us-gaap Profit Loss
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7530000
CY2021 us-gaap Depreciation Depletion And Amortization
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CY2020 us-gaap Depreciation Depletion And Amortization
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CY2021 us-gaap Amortization Of Financing Costs And Discounts
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CY2020 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
308000
CY2021 fpi Amortization Of Borrower Paid Points And Direct Costs Related To Note Receivable
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CY2021 us-gaap Share Based Compensation
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CY2020 us-gaap Share Based Compensation
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CY2021 us-gaap Provision For Doubtful Accounts
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CY2020 us-gaap Provision For Doubtful Accounts
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CY2021 us-gaap Amortization Of Deferred Hedge Gains
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874000
CY2020 us-gaap Amortization Of Deferred Hedge Gains
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846000
CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2020 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accrued Interest Receivable Net
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100000
CY2020 us-gaap Increase Decrease In Accrued Interest Receivable Net
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-61000
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-294000
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
639000
CY2021 us-gaap Increase Decrease In Inventories
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1715000
CY2020 us-gaap Increase Decrease In Inventories
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CY2021 us-gaap Increase Decrease In Interest Payable Net
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-471000
CY2020 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
204000
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
146000
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1962000
CY2021 us-gaap Increase Decrease In Deferred Revenue
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-58000
CY2020 us-gaap Increase Decrease In Deferred Revenue
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138000
CY2021 us-gaap Increase Decrease In Property And Other Taxes Payable
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4000
CY2020 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-29000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
19726000
CY2021 us-gaap Payments To Acquire Real Estate
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CY2020 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
919000
CY2021 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
2713000
CY2020 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
2655000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
856000
CY2021 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
991000
CY2021 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
37000
CY2020 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1772000
CY2021 us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
3702000
CY2020 us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
8000
CY2021 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
70635000
CY2020 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
20478000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18769000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
18668000
CY2021 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
41109000
CY2020 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
54361000
CY2021 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
35908000
CY2020 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
59027000
CY2021 fpi Proceeds From At Market Offering
ProceedsFromAtMarketOffering
27156000
CY2021 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
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CY2020 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
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CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
332000
CY2021 us-gaap Payments For Hedge Financing Activities
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CY2020 us-gaap Payments For Hedge Financing Activities
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CY2020 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6360000
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2021 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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CY2020 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13867000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23738000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2954000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
14656000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27217000
CY2021 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
107000
CY2020 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
93000
CY2021 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
107000
CY2020 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
93000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12561000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30171000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27217000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
14704000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
15477000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
424000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
163000
CY2020 us-gaap Notes Reduction
NotesReduction
487000
CY2021 fpi Swap Fees Payable Included In Accrued Interest
SwapFeesPayableIncludedInAccruedInterest
146000
CY2020 fpi Swap Fees Payable Included In Accrued Interest
SwapFeesPayableIncludedInAccruedInterest
146000
CY2021 us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
40000
CY2021 fpi Deferred Offering Costs Amortized Through Equity In Period
DeferredOfferingCostsAmortizedThroughEquityInPeriod
157000
CY2021 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
2417000
CY2021Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
160200
CY2021 fpi Area Of Real Estate Property For Which Company Serves As Property Manager
AreaOfRealEstatePropertyForWhichCompanyServesAsPropertyManager
26300
CY2021 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates, including the impacts of the ongoing coronavirus (“COVID-19”) pandemic and its effects on the domestic and global economies. We are unable to quantify the ultimate impact of the pandemic on our business.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
CY2020Q4 us-gaap Accumulated Amortization Deferred Finance Costs
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CY2021 fpi Capacity Amount Available Effective Shelf Registration
CapacityAmountAvailableEffectiveShelfRegistration
200000000
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2020Q4 fpi Number Of Financial Institutions In Whose Custody Cash Was Held
NumberOfFinancialInstitutionsInWhoseCustodyCashWasHeld
6
CY2021Q4 fpi Number Of Financial Institutions In Whose Custody Cash Was Held
NumberOfFinancialInstitutionsInWhoseCustodyCashWasHeld
6
CY2020Q4 us-gaap Deferred Finance Costs Gross
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300000
CY2021Q4 us-gaap Deferred Finance Costs Gross
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CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
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1700000
CY2021Q3 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
2400000
CY2021 fpi Deferred Offering Costs Incurred
DeferredOfferingCostsIncurred
200000
CY2020 fpi Deferred Offering Costs Incurred
DeferredOfferingCostsIncurred
0.0
CY2021Q4 us-gaap Deferred Offering Costs
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40000.00
CY2020Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0.00
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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0.0
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0.0
CY2021 fpi Agricultural Related Cost Of Harvested Crop
AgriculturalRelatedCostOfHarvestedCrop
1500000
CY2020 fpi Agricultural Related Cost Of Harvested Crop
AgriculturalRelatedCostOfHarvestedCrop
3400000
CY2021Q4 fpi Agricultural Related Inventory Harvested Crop
AgriculturalRelatedInventoryHarvestedCrop
164000
CY2020Q4 fpi Agricultural Related Inventory Harvested Crop
AgriculturalRelatedInventoryHarvestedCrop
47000
CY2021Q4 us-gaap Agricultural Related Inventory Growing Crops
AgriculturalRelatedInventoryGrowingCrops
2895000
CY2020Q4 us-gaap Agricultural Related Inventory Growing Crops
AgriculturalRelatedInventoryGrowingCrops
1070000
CY2021Q4 us-gaap Agricultural Related Inventory
AgriculturalRelatedInventory
3059000
CY2020Q4 us-gaap Agricultural Related Inventory
AgriculturalRelatedInventory
1117000
CY2020Q4 fpi Deferred Revenue Lease Assets And Lease Liabilities
DeferredRevenueLeaseAssetsAndLeaseLiabilities
40000.00
CY2021 fpi Operating Lease Lease Income Beginning Of Year
OperatingLeaseLeaseIncomeBeginningOfYear
38757000
CY2020 fpi Operating Lease Lease Income Beginning Of Year
OperatingLeaseLeaseIncomeBeginningOfYear
39138000
CY2021 fpi Operating Lease Lease Income Amended During Year
OperatingLeaseLeaseIncomeAmendedDuringYear
6494000
CY2020 fpi Operating Lease Lease Income Amended During Year
OperatingLeaseLeaseIncomeAmendedDuringYear
4555000
CY2021 us-gaap Operating Lease Lease Income
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45251000
CY2020 us-gaap Operating Lease Lease Income
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43693000
CY2021 us-gaap Finite Lived Intangible Asset Useful Life
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P12Y
CY2021 fpi Agricultural Related Revenue Of Harvested Crop
AgriculturalRelatedRevenueOfHarvestedCrop
900000
CY2020 fpi Agricultural Related Revenue Of Harvested Crop
AgriculturalRelatedRevenueOfHarvestedCrop
1900000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0.0
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0.0
CY2021 fpi Appreciated Property Built In Gains Required Holding Period
AppreciatedPropertyBuiltInGainsRequiredHoldingPeriod
P5Y
CY2021 fpi Deferred Tax Liability Built In Gain
DeferredTaxLiabilityBuiltInGain
0
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
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0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2021 us-gaap Derivatives Methods Of Accounting Hedge Effectiveness
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">Hedge Accounting</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">ASC 815 requires the Company to recognize all of its derivative instruments as either assets or liabilities in the consolidated balance sheet at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation. For derivative instruments not designated as hedging instruments, the gain or loss is recognized in the consolidated statements of operations during the year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The Company manages economic risks, including interest rate, liquidity, and credit risk, by managing the amount, sources, duration and interest rate exposure of its funding. The Company may also use interest rate derivative financial instruments, namely interest rate swaps.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The Company enters into marketing contracts to sell commodities. Derivatives and hedge accounting guidance requires a company to evaluate these contracts to determine whether the contracts are derivatives. Certain contracts that meet the definition of a derivative may be exempt from derivative accounting if designated as normal purchase or normal sales. The Company evaluates all contracts at inception to determine if they are derivatives and if they meet the normal purchase and normal sale designation requirements. All contracts entered into during the year ended December 31, 2021 met the criteria to be exempt from derivative accounting and were designated as normal purchase and sales exceptions for hedge accounting.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The Company has in place one interest rate swap agreement with Rabobank to add stability to interest expense and to manage its exposure to interest rate movements. This agreement qualifies as a cash flow hedge and is actively evaluated for its effectiveness (see Note 10 – “Hedge Accounting”). The entire change in the fair value of the Company’s designated cash flow hedges is recorded to accumulated other comprehensive income, a component of shareholders’ equity in the Company’s consolidated balance sheets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">Additionally, the Company assesses whether the derivative used in its hedging transaction is expected to be highly effective in offsetting changes in the fair value or cash flows of the hedged item. The Company discontinues hedge accounting when it is determined that a derivative has ceased to be or is not expected to be highly effective as a hedge, and then reflects changes in fair value of the derivative in earnings after termination of the hedge relationship.</p>
CY2021 fpi Noncontrolling Interest Holding Period
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CY2021Q4 fpi Deferred Revenue Lease Assets And Lease Liabilities
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CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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2959000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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1722000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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21784000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received
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89909000
CY2021 fpi Number Of Acquisitions
NumberOfAcquisitions
12
CY2021 fpi Number Of Properties Acquired
NumberOfPropertiesAcquired
12
CY2021 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
81200000
CY2021 us-gaap Other Payments To Acquire Businesses
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CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
0
CY2020 fpi Number Of Acquisitions
NumberOfAcquisitions
3
CY2020 fpi Number Of Properties Acquired
NumberOfPropertiesAcquired
3
CY2020 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
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CY2020 us-gaap Payments To Acquire Businesses Gross
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CY2020 us-gaap Other Payments To Acquire Businesses
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CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
0
CY2021 fpi Number Of Dispositions
NumberOfDispositions
12
CY2021 fpi Number Of Real Estate Property Sold
NumberOfRealEstatePropertySold
20
CY2021 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
70600000
CY2021Q4 fpi Convertible Notes Receivable
ConvertibleNotesReceivable
2400000
CY2021 us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
9300000
CY2020 fpi Number Of Dispositions
NumberOfDispositions
7
CY2020 fpi Number Of Real Estate Property Sold
NumberOfRealEstatePropertySold
11
CY2020 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
20100000
CY2020 us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
3200000
CY2021Q4 fpi Provision For Loan Receivable
ProvisionForLoanReceivable
0.00
CY2020Q4 fpi Provision For Loan Receivable
ProvisionForLoanReceivable
50000.00
CY2021Q4 us-gaap Receivable With Imputed Interest Face Amount
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6029000
CY2020Q4 us-gaap Receivable With Imputed Interest Face Amount
ReceivableWithImputedInterestFaceAmount
2364000
CY2021Q4 us-gaap Interest Receivable
InterestReceivable
83000
CY2020Q4 us-gaap Interest Receivable
InterestReceivable
277000
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