Company: GTY
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019976
Chunk: 4

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 16
Chunk 4
---
 earnings of $0.3 million. As of December 31, 2024, 2023 and 2022, we had recorded an allowance for credit losses of $0.3 million, $0.2 million and $0.3 million, respectively, on these notes and mortgages receivable. In addition, during the year ended December 31, 2024, we recorded an allowance of $72 thousand and for the years ended December 31, 2023 and 2022, we recorded a credit of $97 thousand and $19 thousand, respectively, on these notes and mortgages receivable due to changes in expected economic conditions.

99

The summarized changes in the carrying amount of mortgage loans are as follows: 

      2024

      2023

      2022

      Balance at January 1,
       
      $
      112,009

      $
      34,313

      $
      14,699

      Additions:

      New mortgage loans

      24,943

      122,029

      21,242

      Deductions:

      Loan repayments

      (107,040
      )

      (43,909
      )

      (1,221
      )

      Collection of principal

      (386
      )

      (521
      )

      (426
      )

      Allowance for credit losses

      (72
      )

      97

      19

      Balance as of December 31,
       
      $
      29,454

      $
      112,009

      $
      34,313

100