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Organization and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

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, 2025		​ ​ ​	December 31, 2024
Harvested crop	​	$	83	​	$	414
Growing crop	​	​	2,233	​	​	2,245
​	​	$	2,316	​	$	2,659

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)	​ ​ ​	2025		​ ​ ​	2024
Net income	​	$	32,172	​	$	61,450
(Gain) on disposition of assets, net	​	​	(35,864)	​	​	(54,148)
Depreciation, depletion and amortization	​		4,168	​	​	5,588
Impairment of assets	​		17,821	​	​	790
FFO (1)	​	$	18,297	​	$	13,680
​	​	​	​	​	​	​
Stock-based compensation	​		2,156	​	​	1,963
Real estate related acquisition and due diligence costs	​	​	2	​	​	28
Distributions on Series A Preferred Units	​	​	(2,583)	​	​	(2,970)
Severance expense	​	​	—	​	​	1,373
AFFO (1)	​	$	17,872	​	$	14,074
​	​	​	​	​	​	​
AFFO per diluted weighted average share data:	​	​	​	​	​	​
​	​	​	​	​	​	​
AFFO weighted average common shares	​		45,537	​		49,127
​	​	​	​	​	​	​
Net income available to common stockholders of Farmland Partners Inc.	​	$	0.65	​	$	1.19
Income available to redeemable non-controlling interest and non-controlling interest in operating partnership	​	​	0.06			0.07
Depreciation, depletion and amortization	​		0.09	​		0.11
Impairment of assets	​		0.39	​		0.02
Stock-based compensation	​		0.05	​		0.04
(Gain) on disposition of assets, net	​	​	(0.79)	​	​	(1.10)
Distributions on Series A Preferred Units	​		(0.06)	​	​	(0.07)
Severance expense	​	​	0.00	​	​	0.03
AFFO per diluted weighted average share (1)	​	$	0.39	​	$	0.29

(1) The year ended December 31, 2025 included approximately $1.0 million of income as a result of a solar lease arrangement with a tenant. The year ended December 31, 2024 includes approximately $1.2 million of income from forfeited deposits due to the termination of a repurchase agreement.

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