Gladstone Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Borrowings - Additional Information (Details)

v3.19.2

Borrowings - Additional Information (Details)	3 Months Ended		6 Months Ended
Borrowings - Additional Information (Details)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) farm	Jun. 30, 2018 USD ($) farm	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Number of farms \| farm			90	75
Net Cost Basis	$ 590,271,000		$ 590,271,000
Weighted average interest rate			3.93%
Other income	48,000	$ 9,000	$ 874,000	$ 323,000
Borrowings under lines of credit	100,000		$ 100,000		$ 100,000
Borrowings
Debt Instrument [Line Items]
Number of farms \| farm			87
Net Cost Basis	$ 573,200,000		$ 573,200,000
Weighted average interest rate	3.93%	3.60%		3.56%
Farm Credit Notes Payable
Debt Instrument [Line Items]
Basis spread on variable rate, increase (decrease)			(0.95%)
Farm Credit Central Florida Notes Payable
Debt Instrument [Line Items]
Interest rate, increase (decrease)			(21.20%)
Other income			$ 700,000
MetLife Facility
Debt Instrument [Line Items]
Face amount of debt	$ 200,000,000		200,000,000
Maximum borrowing capacity	75,000,000		75,000,000
MetLife Facility \| Notes and bonds payables
Debt Instrument [Line Items]
Face amount of debt	200,000,000		200,000,000
Mortgage notes and bonds payable \| Notes and bonds payables
Debt Instrument [Line Items]
Fair value amount	355,600,000		355,600,000
Secured debt	352,500,000		352,500,000
Short Term Mortgage Notes And Bonds Payable \| Notes and bonds payables
Debt Instrument [Line Items]
Borrowings under lines of credit	$ 100,000		$ 100,000

- Definition

Debt Instrument, Basis Spread on Variable Rate, Increase (Decrease)

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Debt instrument weighted average interest rate.

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Number of real estate farms.

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Amount after accumulated depreciation of real estate and intangible assets held for investment for entities with a substantial portion of business acquiring and holding investment real estate.

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Face (par) amount of debt instrument at time of issuance.

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Incremental percentage increase (decrease) in the stated rate on a debt instrument.

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The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

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Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.

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The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.

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Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower.

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