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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Rental income $ 178,004 $ 163,479 $ 357,202 $ 338,026
Interest and other income from real estate transactions 1,007 222 1,587 738
Total revenues 179,011 163,701 358,789 338,764
Operating expenses:        
General and administrative 11,868 9,395 23,616 19,495
Real estate 6,619 6,323 14,344 13,959
Depreciation and amortization 50,875 48,936 100,855 98,124
Leasing transaction costs 22 0 60 36
Impairment losses – real estate, net of recoveries 7,735 21,854 9,866 27,367
Total operating expenses 77,119 86,508 148,741 158,981
Gain on disposition of real estate 4,181 719 8,462 13,489
Earnings from operations 106,073 77,912 218,510 193,272
Other expenses (revenues):        
Interest and other income (33) (106) (98) (271)
Interest expense 33,085 31,753 67,672 65,423
Loss on early extinguishment of debt 0 0 21,328 16,679
Total other expenses (revenues) 33,052 31,647 88,902 81,831
Net earnings 73,021 46,265 129,608 111,441
Loss attributable to noncontrolling interests 2 0 2 2
Net earnings attributable to NNN 73,023 46,265 129,610 111,443
Series F preferred stock dividends (4,485) (4,485) (8,970) (8,970)
Net earnings attributable to common stockholders $ 68,538 $ 41,780 $ 120,640 $ 102,473
Net earnings per share of common stock:        
Basic (in dollars per share) $ 0.39 $ 0.24 $ 0.69 $ 0.60
Diluted (in dollars per share) $ 0.39 $ 0.24 $ 0.69 $ 0.60
Weighted average number of common shares outstanding:        
Basic (in shares) 174,610,897 171,388,869 174,600,158 171,213,943
Diluted (in shares) 174,726,812 171,485,285 174,733,076 171,373,816
Other comprehensive income:        
Net earnings attributable to NNN $ 73,023 $ 46,265 $ 129,610 $ 111,443
Amortization of interest rate hedges 561 638 1,929 1,021
Fair value of forward starting swaps 0 0 0 (7,617)
Comprehensive income attributable to NNN 73,584 46,903 131,539 104,847
Comprehensive loss attributable to noncontrolling interests (2) 0 (2) (2)
Comprehensive income attributable to NNN $ 73,582 $ 46,903 $ 131,537 $ 104,845