Company: LANDO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001495240-25-000005
Chunk: 117

Company: GLADSTONE LAND Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 117
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, and AFFO and Diluted FFO, CFFO, and AFFO per share are useful to investors because they provide investors with a further context for evaluating our FFO, CFFO, and AFFO results in the same manner that investors use net income and EPS in evaluating net income.

The following table provides a reconciliation of our FFO, CFFO, and AFFO for the years ended December 31, 2024, 2023, and 2022 to the most directly-comparable GAAP measure, net income, and a computation of diluted FFO, CFFO, and AFFO per share, using the weighted-average number of total shares (including shares of our common stock and OP Units held by non-controlling OP Unitholders) outstanding during the respective periods (dollars in thousands, except per-share amounts):

For the Years Ended December 31, 202420232022Net income$13,290 $14,565 $4,716 Less:  Aggregate dividends declared on and gains on or charges related to extinguishment of cumulative redeemable preferred stock(1)(23,745)(24,417)(19,718)Net loss attributable to common stockholders and non-controlling OP Unitholders(10,455)(9,852)(15,002)Plus:  Real estate and intangible depreciation and amortization35,055 37,161 35,366 (Less) plus:  (Gains) losses on dispositions of real estate assets, net(5,886)(5,208)3,760 Plus:  Impairment charges2,106 — — Adjustments for unconsolidated entities(2)67 92 57 FFO available to common stockholders and non-controlling OP Unitholders20,887 22,193 24,181 Plus:  Acquisition- and disposition-related expenses, net5 149 438 Plus:  Other nonrecurring charges, net(3)349 1,418 1,023 CFFO available to common stockholders and non-controlling OP Unitholders21,241 23,760 25,642 Net rent adjustments(3,356)(4,519)(3,371)Plus:  Amortization of debt issuance costs990 1,065 1,085 (Less) plus:  Other non-cash (receipts) charges, net(4)(2,154