Organization and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Organization and Significant Accounting Policies

Schedule of estimated useful lives of assets classified as improvements

	Years
Grain facilities	10	-	40
Irrigation improvements	2	-	40
Drainage improvements	20	-	65
Groundwater	3	-	50
Permanent plantings	13	-	40
Other	5	-	40

Schedule of Inventory

(in thousands)	December 31, 2024		December 31, 2023
Harvested crop	$	414	$	246
Growing crop		2,245		2,089
	$	2,659	$	2,335

Schedule of reconciliation of net income (loss) to AFFO and AFFO per share

	For the years ended December 31,
(in thousands except per share amounts)	2024		2023
Net income	$	61,450	$	31,681
(Gain) on disposition of assets, net		(54,148)		(36,133)
Depreciation, depletion and amortization		5,588		7,499
Impairment of assets		790		5,840
FFO (1)	$	13,680	$	8,887
Stock-based compensation and incentive		1,963		2,008
Deferred impact of interest rate swap terminations		—		198
Real estate related acquisition and due diligence costs		28		17
Distributions on Preferred units and stock		(2,970)		(2,970)
Severance expense		1,373		—
AFFO (1)	$	14,074	$	8,140
AFFO per diluted weighted average share data:
AFFO weighted average common shares		49,127		51,810
Net income available to common stockholders of Farmland Partners Inc.	$	1.19	$	0.55
Income available to redeemable non-controlling interest and non-controlling interest in operating partnership		0.07		0.08
Depreciation, depletion and amortization		0.11		0.14
Impairment of assets		0.02		0.11
Stock-based compensation and incentive		0.04		0.04
(Gain) on disposition of assets, net		(1.10)		(0.70)
Distributions on Preferred units and stock		(0.07)		(0.06)
Severance expense		0.03		0.00
AFFO per diluted weighted average share (1)	$	0.29	$	0.16

(1)The year ended December 31, 2024 includes approximately $1.2 million of income from forfeited deposits due to the termination of a repurchase agreement.