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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net earnings $ 167,509,000 $ 225,822,000
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 147,528,000 140,769,000
Impairment losses – real estate, net of recoveries 33,062,000 21,124,000
Loss on early extinguishment of debt 16,679,000 0
Amortization of notes payable discount 2,654,000 1,297,000
Amortization of debt costs 3,924,000 2,787,000
Amortization of mortgages payable premium (64,000) (64,000)
Amortization of interest rate hedges 1,663,000 975,000
Settlement of forward starting swaps (13,141,000) 0
Gain on disposition of real estate (13,637,000) (25,508,000)
Performance incentive plan expense 9,669,000 8,581,000
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 144,000 508,000
Decrease (increase) in receivables (1,252,000) 915,000
Increase in accrued rental income (33,464,000) (1,702,000)
Decrease (increase) in other assets 1,054,000 (375,000)
Increase in accrued interest payable 33,077,000 26,367,000
Decrease in other liabilities (5,534,000) (1,500,000)
Other (201,000) (189,000)
Net cash provided by operating activities 348,824,000 399,032,000
Cash flows from investing activities:    
Proceeds from the disposition of real estate 40,942,000 92,586,000
Additions to real estate:    
Accounted for using the operating method (89,419,000) (505,693,000)
Principal payments received on mortgages and notes receivable 283,000 3,100,000
Other (375,000) 985,000
Net cash used in investing activities (48,569,000) (409,022,000)
Cash flows from financing activities:    
Proceeds from line of credit payable 311,000,000 429,200,000
Repayment of line of credit payable (444,600,000) (429,200,000)
Repayment of mortgages payable (443,000) (422,000)
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 (7,810,000) (115,000)
Proceeds from issuance of common stock 65,440,000 539,318,000
Stock issuance costs (1,241,000) (17,274,000)
Payment of common stock dividends (266,365,000) (245,574,000)
Noncontrolling interest distributions 0 (776,000)
Net cash provided by (used in) financing activities (6,507,000) 249,411,000
Net increase in cash, cash equivalents and restricted cash 293,748,000 239,421,000
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] 294,860,000 353,688,000
Supplemental disclosure of cash flow information:    
Interest paid, net of amount capitalized 57,311,000 59,151,000
Supplemental disclosure of noncash investing and financing activities:    
Decrease in other comprehensive income 5,954,000 11,978,000
Right-of-use assets recorded in connection with lease liabilities 0 8,224,000
Work in progress accrual balance 10,131,000 19,624,000
Mortgage receivable issued in connection with real estate transactions 3,000,000 3,100,000
Restricted cash and cash held in escrow 0 0
Series E Preferred Stock    
Cash flows from financing activities:    
Payment of preferred stock dividends 0 (12,291,000)
Series F Preferred Stock    
Cash flows from financing activities:    
Payment of preferred stock dividends $ (13,455,000) $ (13,455,000)
[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 September 30, 2020 and 2019.