EFTA01385015

American Farmland Company Notes to Consolidated Financial Statements (Continued) 10. SEGMENT INFORMATION (Continued) Below is a summary of operating income by segment for the years ended December 31, 2014 and 2013, respectively. Your Eadtd Decvenber 31.2014 TOW Commodity Row Row Perout000t Desclopment Corporate OPERATING REVENUES: Fixed rent $3,289,130 $1.593.738 $785,904 S 546,638 $ 362,850 $ Participating rent 3,608,309 3,476.103 132,206 Recovery of real estate taxes 310,643 96,394 201,469 12,780 Other income 52,981 13,371 10 39,600 lbtal operating revenues 7,261,063 1,607,109 8n,298 4,224,220 547,436 OPERATING EXPENSES: Depreciation 1.530.911 3,071 90,213 1.217,095 220,532 Management and performance fees-related Party 2.528.255 2,528,255 Property operating expenses . 1,351,655 266,559 164,877 457,886 462,333 Acquisition-related expenses 44,712 220 44,492 Professional fees 406.008 2,166 14,182 3,424 386,236 General and administrative 273,321 - - 273,321 Total operating expenses 6,134,862 /69.67O ic729", 1,689,383 730,781 3,187,812 Operating income 1.126.201 $1337.47') S625.042 $7.534.837 S(183345) S(3.I87,812) Total other expense 1 17,1 14 Net income before gain on sale of land 1.009.087 Gain on sale of land 47,701 Net income 1,056,788 Less net income attributable to non-controlling interests 346,071 Net income attributable to the Company $ 710,717 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. R 6(e) DB-SDNY-0085850 CONFIDENTIAL SDNY_GM_00232034 EFTA01385015