$FPI
Farmland Partners Inc

2024 Q2 Form 10-Q Financial Statement

#000155837024006380 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $11.45M $11.99M
YoY Change -1.2% -5.38%
Cost Of Revenue $2.631M $2.339M
YoY Change -22.8% -25.22%
Gross Profit $8.814M $9.651M
YoY Change 7.8% 1.12%
Gross Profit Margin 77.01% 80.49%
Selling, General & Admin $4.144M $2.960M
YoY Change 30.11% 3.86%
% of Gross Profit 47.02% 30.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.430M $1.481M
YoY Change -35.21% -17.45%
% of Gross Profit 16.22% 15.35%
Operating Expenses $8.205M $4.477M
YoY Change 51.41% -42.86%
Operating Profit $609.0K $5.174M
YoY Change -77.91% 6.97%
Interest Expense -$5.231M -$4.959M
YoY Change -10.41% -200.71%
% of Operating Profit -858.95% -95.84%
Other Income/Expense, Net -$5.293M $1.325M
YoY Change 6957.33% -142.55%
Pretax Income -$2.053M $1.427M
YoY Change -125.98% -17.18%
Income Tax -$1.000K $19.00K
% Of Pretax Income 1.33%
Net Earnings -$2.002M $606.0K
YoY Change -128.6% -63.84%
Net Earnings / Revenue -17.49% 5.05%
Basic Earnings Per Share -$0.06 $0.01
Diluted Earnings Per Share -$0.06 $0.01
COMMON SHARES
Basic Shares Outstanding 48.15M 48.03M
Diluted Shares Outstanding 47.80M 47.70M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.746M $6.228M
YoY Change -48.82% -49.07%
Cash & Equivalents $5.746M $6.228M
Short-Term Investments
Other Short-Term Assets $765.0K $1.697M
YoY Change -44.61% -26.25%
Inventory $3.021M $2.699M
Prepaid Expenses
Receivables $1.128M $1.741M
Other Receivables $0.00 $0.00
Total Short-Term Assets $10.66M $12.36M
YoY Change -37.52% -41.21%
LONG-TERM ASSETS
Property, Plant & Equipment $975.8M $977.1M
YoY Change -9.22% -11.22%
Goodwill $2.706M $2.706M
YoY Change 0.0% 0.0%
Intangibles $2.025M $2.030M
YoY Change -0.98% -0.98%
Long-Term Investments $4.071M $4.053M
YoY Change -5.08% -2.53%
Other Assets $24.00K $26.00K
YoY Change -20.0% -73.47%
Total Long-Term Assets $1.018B $1.019B
YoY Change -8.16% -10.12%
TOTAL ASSETS
Total Short-Term Assets $10.66M $12.36M
Total Long-Term Assets $1.018B $1.019B
Total Assets $1.028B $1.031B
YoY Change -8.61% -10.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $11.23M $10.91M
YoY Change -22.47% -24.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.20M $13.88M
YoY Change -18.85% -21.6%
LONG-TERM LIABILITIES
Long-Term Debt $391.1M $380.9M
YoY Change -16.98% -13.64%
Other Long-Term Liabilities $1.283M $9.889M
YoY Change 12.45% -8.06%
Total Long-Term Liabilities $392.3M $390.8M
YoY Change -16.91% -13.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.20M $13.88M
Total Long-Term Liabilities $392.3M $390.8M
Total Liabilities $406.5M $517.3M
YoY Change -32.62% 10.17%
SHAREHOLDERS EQUITY
Retained Earnings $29.30M $32.04M
YoY Change 157.71% 621.64%
Common Stock $578.6M $578.1M
YoY Change -1.46% -8.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $508.7M $513.8M
YoY Change
Total Liabilities & Shareholders Equity $1.028B $1.031B
YoY Change -8.61% -10.68%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$2.002M $606.0K
YoY Change -128.6% -63.84%
Depreciation, Depletion And Amortization $1.430M $1.481M
YoY Change -35.21% -17.45%
Cash From Operating Activities -$6.089M $11.90M
YoY Change -5.52% -24.89%
INVESTING ACTIVITIES
Capital Expenditures $787.0K $16.34M
YoY Change -92.4% 1225.3%
Acquisitions
YoY Change
Other Investing Activities -$461.0K $1.844M
YoY Change -101.04% -74.19%
Cash From Investing Activities -$1.248M -$14.50M
YoY Change -103.67% -345.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.855M 3.339M
YoY Change -123.97% -119.44%
NET CHANGE
Cash From Operating Activities -6.089M 11.90M
Cash From Investing Activities -1.248M -14.50M
Cash From Financing Activities 6.855M 3.339M
Net Change In Cash -482.0K 739.0K
YoY Change -51.85% -83.85%
FREE CASH FLOW
Cash From Operating Activities -$6.089M $11.90M
Capital Expenditures $787.0K $16.34M
Free Cash Flow -$6.876M -$4.444M
YoY Change -59.09% -130.43%

Facts In Submission

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OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-215000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
526675000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
594004000
CY2023Q1 fpi Income Loss From Continuing Operations Before Income Taxes And Redeemable Non Controlling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesAndRedeemableNonControllingInterest
1714000
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
54000
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
36000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
405000
CY2023Q1 us-gaap Dividends
Dividends
4062000
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-383000
CY2023Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
14592000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
577104000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
1408000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
1714000
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1481000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1794000
CY2024Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
184000
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
158000
CY2024Q1 fpi Amortization Of Borrower Paid Points And Direct Costs Related To Note Receivable
AmortizationOfBorrowerPaidPointsAndDirectCostsRelatedToNoteReceivable
-4000
CY2023Q1 fpi Amortization Of Borrower Paid Points And Direct Costs Related To Note Receivable
AmortizationOfBorrowerPaidPointsAndDirectCostsRelatedToNoteReceivable
-6000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
491000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
405000
CY2024Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-86000
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1826000
CY2024Q1 fpi Gain Loss On Forfeited Earnest Money
GainLossOnForfeitedEarnestMoney
1205000
CY2023Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3210000
CY2024Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
325000
CY2023Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
74000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3339000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17175000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
739000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4575000
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
77000
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-27000
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
15000
CY2023Q1 us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
162000
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4389000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3246000
CY2024Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
208000
CY2023Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
39000
CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1175000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-906000
CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
364000
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-96000
CY2024Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-371000
CY2023Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-311000
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3453000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1794000
CY2024Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
7739000
CY2023Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
10712000
CY2024Q1 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
626000
CY2023Q1 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
580000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11897000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
15839000
CY2024Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
16255000
CY2023Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
141000
CY2024Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
86000
CY2023Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
1092000
CY2024Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
161000
CY2024Q1 us-gaap Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
62000
CY2023Q1 us-gaap Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
7000
CY2024Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1621000
CY2023Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
7137000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14497000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5911000
CY2024Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
30001000
CY2023Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
14001000
CY2024Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
10134000
CY2023Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
9850000
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
34000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
54000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
14591000
CY2024Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
20000
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
137000
CY2024Q1 us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
109000
CY2023Q1 us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
73000
CY2024Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
12961000
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3259000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
177000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
36000
CY2024Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2970000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5489000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7654000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6228000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12229000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
5574000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
5188000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
712000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
205000
CY2024Q1 fpi Swap Fees Payable Included In Accrued Interest
SwapFeesPayableIncludedInAccruedInterest
36000
CY2023Q1 fpi Swap Fees Payable Included In Accrued Interest
SwapFeesPayableIncludedInAccruedInterest
36000
CY2024Q1 us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
32000
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
13000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
563000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
134700
CY2024Q1 fpi Number Of Agriculture Equipment Dealerships Included In Purchase Of Land And Buildings
NumberOfAgricultureEquipmentDealershipsIncludedInPurchaseOfLandAndBuildings
4
CY2024Q1 fpi Area Of Real Estate Property For Which Company Serves As Property Manager
AreaOfRealEstatePropertyForWhichCompanyServesAsPropertyManager
42700
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<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;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 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 for a variety of reasons, including, without limitation, the impacts of public health crises, the war in Ukraine and the ongoing conflict in the Middle East, substantially higher prices for oil and gas and substantially increased interest rates, and their effects on the domestic and global economies. We are unable to quantify the ultimate impact of these factors on our business.</p>
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
10726000
CY2024Q1 us-gaap Deferred Revenue
DeferredRevenue
9900000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
2100000
CY2024Q1 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
380900000
CY2024Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
976800000
CY2023Q4 fpi Agricultural Related Inventory Harvested Crop
AgriculturalRelatedInventoryHarvestedCrop
246000
CY2024Q1 us-gaap Agricultural Related Inventory Growing Crops
AgriculturalRelatedInventoryGrowingCrops
2699000
CY2023Q4 us-gaap Agricultural Related Inventory Growing Crops
AgriculturalRelatedInventoryGrowingCrops
2089000
CY2024Q1 us-gaap Agricultural Related Inventory
AgriculturalRelatedInventory
2699000
CY2023Q4 us-gaap Agricultural Related Inventory
AgriculturalRelatedInventory
2335000
CY2024Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
10207000
CY2024Q1 fpi Operating Lease Lease Income Beginning Of Year
OperatingLeaseLeaseIncomeBeginningOfYear
9136000
CY2023Q1 fpi Operating Lease Lease Income Beginning Of Year
OperatingLeaseLeaseIncomeBeginningOfYear
10446000
CY2024Q1 fpi Operating Lease Lease Income Amended During Year
OperatingLeaseLeaseIncomeAmendedDuringYear
1071000
CY2023Q1 fpi Operating Lease Lease Income Amended During Year
OperatingLeaseLeaseIncomeAmendedDuringYear
280000
CY2024Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
10207000
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
10726000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
16351000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
24114000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
18020000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
8229000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
3885000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
49377000
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
119976000
CY2024Q1 fpi Agricultural Related Revenue Of Harvested Crop
AgriculturalRelatedRevenueOfHarvestedCrop
700000
CY2023Q1 fpi Agricultural Related Revenue Of Harvested Crop
AgriculturalRelatedRevenueOfHarvestedCrop
400000
CY2024Q1 fpi Agricultural Related Cost Of Harvested Crop
AgriculturalRelatedCostOfHarvestedCrop
500000
CY2023Q1 fpi Agricultural Related Cost Of Harvested Crop
AgriculturalRelatedCostOfHarvestedCrop
900000
CY2023Q1 us-gaap Other Operating Income
OtherOperatingIncome
100000
CY2024Q1 us-gaap Other Operating Income
OtherOperatingIncome
100000
CY2024Q1 fpi Number Of Properties Acquired
NumberOfPropertiesAcquired
3
CY2024Q1 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
16300000
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
0
CY2023Q1 fpi Number Of Acquisitions
NumberOfAcquisitions
1
CY2023Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
100000
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
0
CY2024Q1 fpi Number Of Real Estate Property Sold
NumberOfRealEstatePropertySold
0
CY2022Q4 fpi Number Of Agriculture Equipment Dealerships Included In Purchase Of Land And Buildings
NumberOfAgricultureEquipmentDealershipsIncludedInPurchaseOfLandAndBuildings
4
CY2022Q4 us-gaap Lessor Sales Type Lease Renewal Term1
LessorSalesTypeLeaseRenewalTerm1
P20Y
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0615
CY2024Q1 us-gaap Interest Receivable
InterestReceivable
266000
CY2023Q4 us-gaap Interest Receivable
InterestReceivable
60000
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
168000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
168000
CY2024Q1 fpi Notes And Interest Receivable Net
NotesAndInterestReceivableNet
31170000
CY2023Q4 fpi Notes And Interest Receivable Net
NotesAndInterestReceivableNet
31020000
CY2022Q1 fpi Number Of Loans
NumberOfLoans
2
CY2022Q4 fpi Number Of Agriculture Equipment Dealerships Included In Purchase Of Land And Buildings
NumberOfAgricultureEquipmentDealershipsIncludedInPurchaseOfLandAndBuildings
4
CY2022Q4 us-gaap Lessor Sales Type Lease Renewal Term1
LessorSalesTypeLeaseRenewalTerm1
P20Y
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0
CY2024Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
0
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
0
CY2024Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
31338000
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
168000
CY2024Q1 us-gaap Notes Receivable Net
NotesReceivableNet
31170000
CY2024Q1 fpi Percentage Of Amortized Cost On Financing Receivable Allowance For Credit Loss
PercentageOfAmortizedCostOnFinancingReceivableAllowanceForCreditLoss
0.0054
CY2023Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
31188000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
168000
CY2023Q4 us-gaap Notes Receivable Net
NotesReceivableNet
31020000
CY2023 fpi Percentage Of Amortized Cost On Financing Receivable Allowance For Credit Loss
PercentageOfAmortizedCostOnFinancingReceivableAllowanceForCreditLoss
0.0054
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
168000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
92000
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
168000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
92000
CY2024Q1 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
24300000
CY2023Q4 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
24500000
CY2024Q1 us-gaap Secured Debt
SecuredDebt
382963000
CY2023Q4 us-gaap Secured Debt
SecuredDebt
363095000
CY2024Q1 us-gaap Debt Instrument Collateral Amount
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961375000
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2073000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2236000
CY2024Q1 fpi Secured Debt Net
SecuredDebtNet
380890000
CY2023Q4 fpi Secured Debt Net
SecuredDebtNet
360859000
CY2024Q1 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
2100000
CY2023Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
1900000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
79987000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
78343000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
42339000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
62199000
CY2024Q1 fpi Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
120095000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
382963000
CY2023Q1 us-gaap Lease Cost
LeaseCost
70000.00
CY2024Q1 us-gaap Lease Cost
LeaseCost
70000.00
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
606000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
190000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
212000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
402000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
47000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
355000
CY2024Q1 fpi Net Book Value Of Assets With Unexercised Options
NetBookValueOfAssetsWithUnexercisedOptions
5100000
CY2023Q4 fpi Amount Received From Repurchase Option On Property Exercised
AmountReceivedFromRepurchaseOptionOnPropertyExercised
3500000
CY2024Q1 fpi Proceeds From Lease Termination
ProceedsFromLeaseTermination
800000
CY2024Q1 fpi Gain Loss On Forfeited Earnest Money
GainLossOnForfeitedEarnestMoney
1200000
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.0600
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.0600
CY2019Q4 fpi Stock Repurchase Program Increase In Authorized Amount
StockRepurchaseProgramIncreaseInAuthorizedAmount
50000000.0
CY2022Q2 fpi Stock Offering Authorized Amount
StockOfferingAuthorizedAmount
100000000.0
CY2023Q1 fpi Deferred Offering Costs Incurred
DeferredOfferingCostsIncurred
100000
CY2024Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0.0
CY2023Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0.0
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
606000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
857000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
857000
CY2024Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
606000
CY2023Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
857000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47704000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54007000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47704000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54007000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2024Q1 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
49358
CY2023Q4 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
49206
CY2023Q4 fpi Accumulated Derivative Instrument Gain Loss
AccumulatedDerivativeInstrumentGainLoss
2691000
CY2022Q4 fpi Accumulated Derivative Instrument Gain Loss
AccumulatedDerivativeInstrumentGainLoss
3306000
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-215000
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-813000
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Reclassification For Discontinuance Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeReclassificationForDiscontinuanceBeforeTax
-198000
CY2024Q1 fpi Accumulated Derivative Instrument Gain Loss
AccumulatedDerivativeInstrumentGainLoss
2476000
CY2023Q4 fpi Accumulated Derivative Instrument Gain Loss
AccumulatedDerivativeInstrumentGainLoss
2691000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 fpi Rule10b51 Arr Modified Flag
Rule10b51ArrModifiedFlag
false

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