Company: LANDO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001495240-25-000005
Chunk: 138

Company: GLADSTONE LAND Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 138
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Distributions—OP Units and common stock—— —— —— —— — (20,095)— (20,095)— (20,095)Comprehensive income attributable to the Company—— —— —— —— — — 266 266 — 266 Balance at December 31, 20245,840,889$6 9,954,863$10 252,436$— 36,184,658$36 $854,059 $(174,561)$7,632 $687,182 $— $687,182 

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

69

GLADSTONE LAND CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

 For the Years Ended December 31, 202420232022CASH FLOWS FROM OPERATING ACTIVITIES:Net income$13,290 $14,565 $4,716 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization35,055 37,161 35,366 Impairment charge2,106 — — Amortization of debt issuance costs990 1,065 1,085 Amortization of deferred rent assets and liabilities, net2,055 534 (482)Amortization of right-of-use assets from operating leases and operating lease liabilities, net56 92 90 Loss from investments in unconsolidated entities60 59 73 Bad debt expense372 149 83 Write-off of unamortized deferred offering costs associated with cumulative redeemable preferred stock (Series C)— — 798 (Gain) loss on dispositions of real estate assets, net(5,886)(5,208)3,760 Property and casualty loss, net284 1,016 56 Changes in operating assets and liabilities:Other assets, net(11,275)(6,914)(7,487)Accounts payable and accrued expenses and Due to related parties, net(6,101)(3,400)5,678 Other liabilities, net(1,458)962 52 Net cash provided by operating activities29,548 40,081 43,788 CASH FLOWS FROM INVESTING ACTIVITIES:Acquisition of new real estate assets— — (