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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net earnings $ 111,441,000 $ 159,124,000
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 98,124,000 92,421,000
Impairment losses – real estate, net of recoveries 27,367,000 10,432,000
Loss on early extinguishment of debt 16,679,000 0
Amortization of notes payable discount 2,275,000 859,000
Amortization of debt costs 2,842,000 1,851,000
Amortization of mortgages payable premium (43,000) (43,000)
Amortization of interest rate hedges 1,021,000 648,000
Settlement of forward starting swaps (13,141,000) 0
Gain on disposition of real estate (13,489,000) (23,447,000)
Performance incentive plan expense 6,275,000 5,580,000
Performance incentive plan payment (846,000) (775,000)
Change in operating assets and liabilities, net of assets acquired and liabilities assumed:    
Decrease in real estate leased to others using the direct financing method 83,000 338,000
Decrease (increase) in receivables (15,771,000) 1,290,000
Increase in accrued rental income (31,045,000) (1,160,000)
Increase in other assets (204,000) (1,227,000)
Increase (decrease) in accrued interest payable 3,402,000 (1,535,000)
Decrease in other liabilities (7,356,000) (8,847,000)
Other 103,000 (168,000)
Net cash provided by operating activities 187,717,000 235,341,000
Cash flows from investing activities:    
Proceeds from the disposition of real estate 37,257,000 59,026,000
Additions to real estate:    
Accounted for using the operating method (78,880,000) (378,713,000)
Principal payments received on mortgages and notes receivable 194,000 0
Other (43,000) 1,851,000
Net cash used in investing activities (41,472,000) (317,836,000)
Cash flows from financing activities:    
Proceeds from line of credit payable 311,000,000 202,000,000
Repayment of line of credit payable (444,600,000) (138,800,000)
Repayment of mortgages payable (294,000) (281,000)
Proceeds from notes payable 692,646,000 0
Repayment of notes payable (325,000,000) 0
Payment for early extinguishment of debt (16,679,000) 0
Payment of debt issuance costs (7,809,000) (115,000)
Proceeds from issuance of common stock 54,084,000 87,978,000
Stock issuance costs (757,000) (766,000)
Payment of common stock dividends (176,418,000) (161,639,000)
Noncontrolling interest distributions 0 (776,000)
Net cash provided by (used in) financing activities 77,203,000 (29,563,000)
Net increase (decrease) in cash, cash equivalents and restricted cash 223,448,000 (112,058,000)
Cash, cash equivalents and restricted cash at beginning of period [1] 1,112,000 114,267,000
Cash, cash equivalents and restricted cash at end of period [1] 224,560,000 2,209,000
Supplemental disclosure of cash flow information:    
Interest paid, net of amount capitalized 56,811,000 58,459,000
Supplemental disclosure of noncash investing and financing activities:    
Decrease in other comprehensive income 6,596,000 4,487,000
Right-of-use assets recorded in connection with lease liabilities 0 8,224,000
Work in progress accrual balance 16,789,000 30,060,000
Mortgage receivable issued in connection with real estate transactions 3,000,000 3,100,000
General and administrative 0 0
Series E Preferred Stock    
Cash flows from financing activities:    
Payment of preferred stock dividends 0 (8,194,000)
Series F Preferred Stock    
Cash flows from financing activities:    
Payment of preferred stock dividends $ (8,970,000) $ (8,970,000)
[1] Cash, cash equivalents and restricted cash is the aggregate of cash and cash equivalents and restricted cash and cash held in escrow from the Condensed Consolidated Balance Sheets. NNN had no restricted cash and cash held in escrow at June 30, 2020 and 2019.