Company: GTY
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019976
Chunk: 63

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 63
---
3,966

    5,243

    3,545

    Funds from operations (FFO)

    123,976

    106,065

    117,067

    Revenue recognition adjustments

    Deferred rental revenue (straight-line rent)

    (7,129
    )

    (4,033
    )

    (3,458
    )

    Amortization of above and below market leases, net

    (427
    )

    (1,057
    )

    (1,184
    )

    Amortization of investments in direct financing leases

    5,580

    6,004

    5,392

    Amortization of lease incentives

    284

    1,098

    1,198

    Total revenue recognition adjustments

    (1,692
    )

    2,012

    1,948

    Environmental Adjustments

    Accretion expense

    407

    585

    1,259

    Changes in environmental estimates

    (933
    )

    (302
    )

    (23,837
    )

    Environmental litigation accruals

    125

    —

    279

    Insurance reimbursements

    (95
    )

    (138
    )

    (85
    )

    Legal settlements and judgments

    (41
    )

    —

    —

    Total environmental adjustments

    (537
    )

    145

    (22,384
    )

    Other Adjustments

    Stock-based compensation expense

    5,934

    5,582

    4,775

    Amortization of debt issuance costs

    2,253

    1,211

    946

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

    (177
    )

    (189
    )

    50

    Loss on extinguishment of debt

    —

    43

    —

    Retirement and severance costs

    1,036

    939

    85

    Total other adjustments

    9,046

    7,586

    5,856

    Adjusted funds from operations (AFFO)
     
    $
    130,793

    $
    115,808

    $
    102,487