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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Earnings including noncontrolling interests $ 239,506 $ 197,961 $ 191,170
Adjustments to reconcile earnings including noncontrolling interests to net cash provided by operating activities:      
Depreciation and amortization 149,101 134,798 116,165
Impairment losses – real estate and other charges, net of recoveries 11,294 4,420 823
Impairment – commercial mortgage residual interests valuation 6,830 531 256
Amortization of notes payable discount 1,394 1,306 1,238
Amortization of debt costs 3,086 2,915 2,782
Amortization of mortgages payable premium (147) (207) (93)
Amortization of deferred interest rate hedges 2,802 1,902 1,129
Settlement of forward starting swaps 13,345 (13,369) (6,312)
Gain on disposition of real estate (27,182) (10,807) (11,742)
Deferred income taxes 0 10,488 58
Performance incentive plan expense 11,401 10,474 9,841
Performance incentive plan payment (581) (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 1,364 1,277 1,368
Decrease in mortgages, notes and accrued interest receivable 26 74 76
Decrease (increase) in receivables (74) (335) 16
Increase in accrued rental income (252) (368) (1,731)
Decrease (increase) in other assets 1,663 4,996 (2,256)
Increase (decrease) in accrued interest payable (448) 2,717 254
Increase (decrease) in other liabilities 2,636 (6,610) (4,746)
Other (427) (392) 1,245
Net cash provided by operating activities 415,337 341,095 296,733
Cash flows from investing activities:      
Proceeds from the disposition of real estate 104,117 38,502 58,853
Additions to real estate:      
Accounted for using the operating method (885,966) (683,243) (602,780)
Increase in mortgages and notes receivable 0 0 (7,246)
Principal payments on mortgages and notes receivable 4,141 2,363 13,346
Other (2,235) (2,166) (3,731)
Net cash used in investing activities (779,943) (644,544) (541,558)
Cash flows from financing activities:      
Proceeds from line of credit payable 1,330,200 1,262,400 678,500
Repayment of line of credit payable (1,330,200) (1,262,400) (724,900)
Repayment of mortgages payable (9,962) (2,035) (1,151)
Proceeds from notes payable 346,140 399,036 349,293
Repayment of notes payable 0 (150,000) (150,000)
Payment of debt costs (3,362) (3,654) (6,321)
Proceeds from issuance of common stock 278,040 332,117 360,072
Stock issuance costs (15,204) (4,198) (10,726)
Payment of common stock dividends (257,007) (228,699) (204,157)
Noncontrolling interest contributions 0 334 0
Noncontrolling interest distributions (136) (362) (1,232)
Net cash provided by financing activities 644,886 307,105 253,944
Net increase in cash, cash equivalents and restricted cash 280,280 3,656 9,119
Cash, cash equivalents and restricted cash at beginning of year [1] 14,260 10,604 1,485
Cash, cash equivalents and restricted cash at end of year [1] 294,540 14,260 10,604
Supplemental disclosure of cash flow information:      
Interest paid, net of amount capitalized 91,403 83,758 81,829
Taxes paid (received) (155) 234 59
Supplemental disclosure of noncash investing and financing activities:      
Issued 285,573, 285,263 and 386,433 shares of restricted and unrestricted common stock in 2016, 2015 and 2014, respectively, pursuant to NNN’s performance incentive plan 11,337 8,990 10,884
Surrender of 1,520 shares of restricted common stock in 2016 59 0 0
Change in other comprehensive income 12,161 11,694 4,153
Change in lease classification (direct financing lease to operating lease) 1,924 1,179 0
Mortgages payable assumed in connection with real estate transactions 0 0 17,254
Mortgage receivable accepted in connection with real estate transactions 0 500 62
Note receivable accepted in connection with real estate transactions 0 0 70
Series D Preferred Stock      
Cash flows from financing activities:      
Payment of preferred stock dividends (19,047) (19,047) (19,047)
Series E Preferred Stock      
Cash flows from financing activities:      
Payment of preferred stock dividends (16,387) (16,387) (16,387)
Series F Preferred Stock      
Cash flows from financing activities:      
Proceeds from issuance of Series F preferred stock 345,000 0 0
Payment of preferred stock dividends $ (3,189) $ 0 $ 0
[1] Cash, cash equivalents and restricted cash at the end of the year is the aggregate of Cash and cash equivalents and Restricted cash and cash held in escrow from the Consolidated Balance Sheets. NNN had restricted cash and cash held in escrow of $601 at December 31, 2015. NNN did not have restricted cash or cash held in escrow at December 31, 2016 and 2014.