Getty Realty Corp 2025年季度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ GETTY REALTY CORP.FORM 10-Q INDEX PART I—FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited)Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024Notes to Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART II—OTHER INFORMATIONItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 5.Other InformationItem 6.ExhibitsSignatures GETTY REALTY CORP.CONSOLIDATED BALANCE SHEETS NOTES TO CONSOLIDATEDFINANCIAL STATEMENTS(Unaudited) NOTE 1. — DESCRIPTION OF BUSINESS Getty Realty Corp. (“Getty Realty,” “we,” “us,” “our’ and the “Company”), a Maryland corporation, is a publicly traded, netlease real estate investment trust (“REIT”) specializing in the acquisition, financing and development of convenience, automotiveand other single tenant retail real estate. Our predecessor was founded in 1955 and our common stock was listed on the New YorkStock Exchange (“NYSE”) in 1997. Unless otherwise expressly stated or the context otherwise requires, the “Company,” “we,” Our portfolio includes convenience stores, express tunnel car washes, automotive service centers (gasoline and repair, oil andmaintenance, tire and battery, and collision), and certain other freestanding retail properties, including drive-thru quick servicerestaurants and automotive parts retailers. Our1,119properties as of March 31, 2025are located in42states and Washington, D.C.,and our tenants operate under a variety of national and regional retail brands. We are internally managed by our management team, NOTE 2. — ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements include the accounts of Getty Realty and its wholly owned subsidiaries. Theaccompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted inthe United States of America (“GAAP”). We do not distinguish our principal business or our operations on a geographical basis for Unaudited, Interim Consolidated Financial Statements The consolidated financial statements are unaudited but, in our opinion, reflect all adjustments (consisting of normalrecurring accruals) necessary for a fair statement of the results for the periods presented. These statements should be read in Use of Estimates, Judgments and Assumptions The consolidated financial statements have been prepared in conformity with GAAP, which requires management to makeestimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assetsand liabilities at the date of the consolidated financial statements and revenues and expenses during the period reported. Estimates,judgments and assumptions underlying the accompanying consolidated financial statements include, but are not limited to, realestate, receivables, deferred rent receivable, direct financing leases, depreciation and amortization, impairment of long-lived assets, Real Estate Real estate assets are stated at cost less accumulated depreciation and amortization. For acquisitions of real estate, weestimate the fair value of acquired tangible assets (consisting of land, buildings and improvements) “as if vacant” and identifiedintangible assets and liabilities (consisting of leasehold interests, intangible market lease assets and liabilities, in-place leases andtenant relationships) and assumed debt. Based on these estimates, we allocate the estimated fair value to the applicable assets andliabilities. When we enter into sale-leaseback transactions with intangible market lease assets and liabilities, the intangibles will beaccounted for as prepaid rent receivables or prepaid rent liabilities, respectively. Fair value is determined based on an exit price We expense transaction costs associ