XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Rental income $ 157,865 $ 168,224 $ 495,891 $ 495,846
Interest and other income from real estate transactions 768 383 1,506 1,265
Total revenues 158,633 168,607 497,397 497,111
Operating expenses:        
General and administrative 9,419 8,726 28,914 27,524
Real estate 6,345 6,706 20,304 20,398
Depreciation and amortization 49,404 48,348 147,528 140,769
Leasing transaction costs 0 51 36 178
Impairment losses – real estate, net of recoveries 5,695 10,692 33,062 21,124
Total operating expenses 70,863 74,523 229,844 209,993
Gain on disposition of real estate 148 2,061 13,637 25,508
Earnings from operations 87,918 96,145 281,190 312,626
Other expenses (revenues):        
Interest and other income (74) (501) (345) (2,912)
Interest expense 31,924 29,948 97,347 89,716
Loss on early extinguishment of debt 0 0 16,679 0
Total other expenses (revenues) 31,850 29,447 113,681 86,804
Net earnings 56,068 66,698 167,509 225,822
Earnings (loss) attributable to noncontrolling interests 1 (5) 3 (428)
Net earnings attributable to NNN 56,069 66,693 167,512 225,394
Net earnings attributable to common stockholders $ 51,584 $ 58,111 $ 154,057 $ 199,648
Net earnings per share of common stock:        
Basic (in dollars per share) $ 0.30 $ 0.35 $ 0.89 $ 1.23
Diluted (in dollars per share) $ 0.30 $ 0.35 $ 0.89 $ 1.22
Weighted average number of common shares outstanding:        
Basic (in shares) 172,681,136 164,883,509 171,706,577 162,641,261
Diluted (in shares) 172,782,266 165,361,731 171,815,377 163,126,063
Other comprehensive income:        
Net earnings attributable to NNN $ 56,069 $ 66,693 $ 167,512 $ 225,394
Amortization of interest rate hedges 642 327 1,663 975
Fair value of forward starting swaps 0 (7,818) (7,617) (11,738)
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 56,711 59,202 161,558 213,416
Series E Preferred Stock        
Other expenses (revenues):        
Dividends 0 (4,097) 0 (12,291)
Series F Preferred Stock        
Other expenses (revenues):        
Dividends $ (4,485) $ (4,485) $ (13,455) $ (13,455)