Getty Realty Corp 2026年度季度报告

GETTY REALTY CORP.FORM 10-Q INDEX PART I—FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited)Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2025Notes 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(Unaudited) GETTY REALTY CORP.CONSOLIDATED STATEMENTS OF OPERATIONS NOTES TO CONSOLIDATED FINANCIAL 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), drive-thru quick service restaurants, and certain other freestanding retail properties.Our 1,191 properties as of March 31, 2026 are located in 45 states and Washington, D.C., and our tenants operate under a variety ofnational and regional retail brands. We are internally managed by our management team, which has extensive experience acquiring, 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 normal recurringaccruals) necessary for a fair statement of the results for the periods presented. These statements should be read in conjunction with 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 associated with business combinations in the period incurred. Acquisitions of real estate whichdo not meet the definition of a business are accounted for as asset acquisitions. The accounting model for asset acquisitions issimilar to the accounting model for business combinations except that the acquisition costs are capitalized and allocated to the We capitalize direct costs, including costs such as construction costs and professional services, and indirect costs associatedwith the development and construction of real estate assets while substantive activities are ongoing to prepare the assets for their We evaluate the held for sale classification of our real estate as of the end of each quarter. Assets that are classified as held When real estate assets are sold or retired, the cost and relat