Company: GTY
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019976
Chunk: 98

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 98
---
,216

    46,838

    Net earnings

    71,064

    60,151

    90,043

    Other comprehensive loss:

    Unrealized gain (loss) on cash flow hedges

    2,688

    (3,938
    )

    —

    Cash flow hedge income reclassified to interest expense

    (531
    )

    (83
    )

    —

    Total other comprehensive income (loss)

    2,157

    (4,021
    )

    —

    Comprehensive income
     
    $
    73,221

    $
    56,130

    $
    90,043

The accompanying notes are an integral part of these consolidated financial statements.

48

GETTY REALTY CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

    Year ended December 31,

    2024

    2023

    2022

    CASH FLOWS FROM OPERATING ACTIVITIES:

    Net earnings
     
    $
    71,064

    $
    60,151

    $
    90,043

    Adjustments to reconcile net earnings to net cash flow provided by   operating activities:

    Depreciation and amortization expense

    54,984

    45,296

    39,902

    Impairment charges

    3,966

    5,243

    3,545

    Gains on dispositions of real estate

    (6,038
    )

    (4,625
    )

    (16,423
    )

    Loss on extinguishment of debt

    —

    43

    —

    Deferred rent receivable

    (7,129
    )

    (4,033
    )

    (3,458
    )

    (Recovery) allowance for credit loss on notes and mortgages receivable   and direct financing leases

    (177
    )

    (189
    )

    50

    Amortization of intangible market lease assets and liabilities

    (143
    )

    41

    14

    Amortization of investment in direct financing leases

    5,580

    6,004

    5,392

    Amortization of debt issuance costs

    2,253