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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Earnings including noncontrolling interests $ 155,485 $ 137,396
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 99,950 85,790
Impairment losses, net of recoveries 3,711 625
Impairment – commercial mortgage residual interests valuation 481 256
Amortization of notes payable discount 964 924
Amortization of debt costs 2,142 2,066
Amortization of mortgages payable premium (156) (49)
Amortization of deferred interest rate hedges 1,256 736
Interest rate hedge payment 0 (6,312)
Gain on disposition of real estate (9,231) (8,627)
Performance incentive plan expense 7,524 7,334
Performance incentive plan payment (676) (2,808)
Change in operating assets and liabilities, net of assets acquired and liabilities assumed in business combinations:    
Decrease in real estate leased to others using the direct financing method 945 1,013
Decrease in mortgages, notes and accrued interest receivable 73 60
Decrease in receivables 993 894
Decrease (increase) in accrued rental income 161 (1,414)
Decrease in other assets 5,137 1,178
Increase in accrued interest payable 12,117 13,395
Decrease in other liabilities (3,161) (1,870)
Other 267 1,166
Net cash provided by operating activities 277,982 231,753
Cash flows from investing activities:    
Proceeds from the disposition of real estate 33,064 44,748
Additions to real estate:    
Accounted for using the operating method (527,818) (525,371)
Increase in mortgages and notes receivable 0 (7,246)
Principal payments on mortgages and notes receivable 1,075 13,158
Other (1,697) (3,032)
Net cash used in investing activities (495,376) (477,743)
Cash flows from financing activities:    
Proceeds from line of credit payable 1,194,500 557,000
Repayment of line of credit payable (912,100) (468,500)
Repayment of mortgages payable (1,657) (825)
Proceeds from notes payable 0 349,293
Repayment of notes payable 0 (150,000)
Payment of debt costs (75) (3,263)
Proceeds from issuance of common stock 127,485 146,978
Stock issuance costs (2,206) (2,192)
Payment of common stock dividends (169,674) (151,274)
Noncontrolling interest distributions (292) (1,232)
Net cash provided by financing activities 209,405 249,409
Net increase (decrease) in cash and cash equivalents (7,989) 3,419
Cash and cash equivalents at beginning of period 10,604 1,485
Cash and cash equivalents at end of period 2,615 4,904
Supplemental disclosure of cash flow information:    
Interest paid, net of amount capitalized 50,770 47,927
Taxes paid 224 142
Supplemental disclosure of noncash investing and financing activities:    
Issued 279,712 and 382,645 shares of restricted and unrestricted common stock in 2015 and 2014, respectively, pursuant to NNN’s performance incentive plan 8,778 10,741
Issued 11,658 and 12,166 shares of common stock in 2015 and 2014, respectively, pursuant to NNN’s Deferred Director Fee Plan 209 197
Change in other comprehensive income 9,357 4,986
Mortgages payable assumed in connection with real estate transactions 0 2,824
Mortgage receivable accepted in connection with real estate transactions 500 62
Note receivable accepted in connection with real estate transactions 0 70
Change in lease classification (direct financing lease to operating lease) 1,179 0
Series D Depositary Share    
Cash flows from financing activities:    
Payment of Series D and Series E preferred stock dividends (14,285) (14,285)
Series E Depositary Share    
Cash flows from financing activities:    
Payment of Series D and Series E preferred stock dividends $ (12,291) $ (12,291)