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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Rental income $ 163,479 $ 164,596 $ 338,026 $ 327,622
Interest and other income from real estate transactions 222 196 738 882
Total revenues 163,701 164,792 338,764 328,504
Operating expenses:        
General and administrative 9,395 9,276 19,495 18,798
Real estate 6,323 6,600 13,959 13,692
Depreciation and amortization 48,936 46,241 98,124 92,421
Leasing transaction costs 0 75 36 127
Impairment losses – real estate, net of recoveries 21,854 7,187 27,367 10,432
Total operating expenses 86,508 69,379 158,981 135,470
Gain on disposition of real estate 719 13,002 13,489 23,447
Earnings from operations 77,912 108,415 193,272 216,481
Other expenses (revenues):        
Interest and other income (106) (487) (271) (2,411)
Interest expense 31,753 29,811 65,423 59,768
Loss on early extinguishment of debt 0 0 16,679 0
Total other expenses (revenues) 31,647 29,324 81,831 57,357
Net earnings 46,265 79,091 111,441 159,124
(Loss) earnings attributable to noncontrolling interests 0 (413) 2 (423)
Net earnings attributable to NNN 46,265 78,678 111,443 158,701
Net earnings attributable to common stockholders $ 41,780 $ 70,097 $ 102,473 $ 141,537
Net earnings per share of common stock:        
Basic (in dollars per share) $ 0.24 $ 0.43 $ 0.60 $ 0.87
Diluted (in dollars per share) $ 0.24 $ 0.43 $ 0.60 $ 0.87
Weighted average number of common shares outstanding:        
Basic (in shares) 171,388,869 161,893,442 171,213,943 161,501,555
Diluted (in shares) 171,485,285 162,351,901 171,373,816 161,995,334
Other comprehensive income:        
Net earnings attributable to NNN $ 46,265 $ 78,678 $ 111,443 $ 158,701
Amortization of interest rate hedges 638 325 1,021 648
Fair value of forward starting swaps 0 (3,920) (7,617) (3,920)
Valuation adjustments – available-for-sale securities 0 0 0 116
Realized gain – available-for-sale securities 0 0 0 (1,331)
Comprehensive income attributable to NNN 46,903 75,083 104,847 154,214
Series E Preferred Stock        
Other expenses (revenues):        
Dividends 0 (4,096) 0 (8,194)
Series F Preferred Stock        
Other expenses (revenues):        
Dividends $ (4,485) $ (4,485) $ (8,970) $ (8,970)