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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Rental income from operating leases $ 150,969 $ 141,298 $ 298,798 $ 277,791
Earned income from direct financing leases 225 246 455 502
Percentage rent 189 198 734 746
Real estate expense reimbursement from tenants 3,770 3,700 7,928 7,560
Interest and other income from real estate transactions 365 108 438 382
Total revenues 155,518 145,550 308,353 286,981
Operating expenses:        
General and administrative 8,741 8,820 17,437 17,739
Real estate 5,828 5,424 11,690 11,087
Depreciation and amortization 43,304 41,326 87,802 81,469
Impairment losses – real estate and other charges, net of recoveries 3,835 (39) 6,083 1,167
Retirement severance costs 260 7,428 521 7,428
Total operating expenses 61,968 62,959 123,533 118,890
Earnings from operations 93,550 82,591 184,820 168,091
Other expenses (revenues):        
Interest and other income (37) (37) (63) (175)
Interest expense 27,110 27,274 53,712 53,888
Total other expenses (revenues) 27,073 27,237 53,649 53,713
Earnings before gain on disposition of real estate 66,477 55,354 131,171 114,378
Gain on disposition of real estate 4,106 3,055 42,702 17,679
Net earnings 70,583 58,409 173,873 132,057
Earnings attributable to noncontrolling interests (10) (381) (19) (372)
Net earnings attributable to NNN 70,573 58,028 173,854 131,685
Net earnings attributable to common stockholders $ 61,992 $ 49,447 $ 156,690 $ 101,068
Net earnings per share of common stock:        
Basic (in dollars per share) $ 0.40 $ 0.33 $ 1.02 $ 0.68
Diluted (in dollars per share) $ 0.40 $ 0.33 $ 1.02 $ 0.68
Weighted average number of common shares outstanding:        
Basic (in shares) 153,810,692 148,372,501 153,428,365 147,655,076
Diluted (in shares) 154,203,938 148,719,470 153,840,219 148,023,668
Other comprehensive income:        
Net earnings attributable to NNN $ 70,573 $ 58,028 $ 173,854 $ 131,685
Amortization of interest rate hedges 531 455 1,056 903
Fair value of forward starting swaps 3,259 (1,140) 1,095 (1,694)
Net gain (loss) – available-for-sale securities 184 (81) 52 (7)
Comprehensive income attributable to NNN 74,547 57,262 176,057 130,887
Series D Preferred Stock        
Other expenses (revenues):        
Dividends 0 0 0 (3,598)
Excess of redemption value over carrying value of Series D preferred shares redeemed 0 0 0 (9,855)
Series E Preferred Stock        
Other expenses (revenues):        
Dividends (4,096) (4,096) (8,194) (8,194)
Series F Preferred Stock        
Other expenses (revenues):        
Dividends $ (4,485) $ (4,485) $ (8,970) $ (8,970)