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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Rental income $ 658,793 $ 669,009  
Rental income     $ 621,399
Interest and other income from real estate transactions 1,888 1,478 1,262
Total revenues 660,681 670,487 622,661
Operating expenses:      
General and administrative 38,161 37,651 34,248
Real estate 28,362 27,656 25,099
Depreciation and amortization 196,623 188,871 174,398
Leasing transaction costs 76 261 0
Impairment losses – real estate, net of recoveries 37,442 31,992 28,211
Retirement severance costs 1,766 0 1,013
Total operating expenses 302,430 286,431 262,969
Gain on disposition of real estate 16,238 32,463 65,070
Earnings from operations 374,489 416,519 424,762
Other expenses (revenues):      
Interest and other income (417) (3,112) (1,810)
Interest expense 129,431 120,023 115,847
Loss on early extinguishment of debt 16,679 0 18,240
Total other expenses (revenues) 145,693 116,911 132,277
Net earnings 228,796 299,608 292,485
Loss (earnings) attributable to noncontrolling interests 3 (428) (38)
Net earnings attributable to NNN 228,799 299,180 292,447
Excess of redemption value over carrying value of preferred shares redeemed 0 (9,856) 0
Net earnings attributable to common stockholders $ 210,859 $ 258,183 $ 258,120
Net earnings per share of common stock:      
Basic (in dollars per share) $ 1.22 $ 1.56 $ 1.65
Diluted (in dollars per share) $ 1.22 $ 1.56 $ 1.65
Weighted average number of common shares outstanding:      
Basic (in shares) 172,109,713 164,688,498 155,744,601
Diluted (in shares) 172,217,077 165,083,679 156,295,619
Other comprehensive income:      
Net earnings attributable to NNN $ 228,799 $ 299,180 $ 292,447
Amortization of interest rate hedges 2,300 1,307 3,664
Fair value of forward starting swaps (7,617) (5,524) 4,080
Realized gain – available-for-sale securities 0 116 298
Realized gain – available-for-sale securities 0 (1,331) 0
Comprehensive income attributable to NNN 223,482 293,748 300,489
Comprehensive income attributable to non-controlling interests 3 (428) (38)
Total comprehensive income 223,485 293,320 300,451
Series E Preferred Stock      
Other expenses (revenues):      
Preferred stock dividends 0 (13,201) (16,387)
Series F Preferred Stock      
Other expenses (revenues):      
Preferred stock dividends $ (17,940) $ (17,940) $ (17,940)