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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Rental income $ 180,024 $ 157,865 $ 537,226 $ 495,891
Interest and other income from real estate transactions 333 768 1,920 1,506
Total revenues 180,357 158,633 539,146 497,397
Operating expenses:        
General and administrative 11,077 9,419 34,693 28,914
Real estate 6,521 6,345 20,865 20,304
Depreciation and amortization 50,976 49,404 151,831 147,528
Leasing transaction costs 86 146 36
Impairment losses – real estate, net of recoveries 4,781 5,695 14,647 33,062
Total operating expenses 73,441 70,863 222,182 229,844
Gain on disposition of real estate 9,473 148 17,935 13,637
Earnings from operations 116,389 87,918 334,899 281,190
Other expenses (revenues):        
Interest and other income (61) (74) (159) (345)
Interest expense 33,518 31,924 101,190 97,347
Loss on early extinguishment of debt 21,328 16,679
Total other expenses (revenues) 33,457 31,850 122,359 113,681
Net earnings 82,932 56,068 212,540 167,509
Loss attributable to noncontrolling interests 1 1 3 3
Net earnings attributable to NNN 82,933 56,069 212,543 167,512
Series F preferred stock dividends (4,485) (4,485) (13,455) (13,455)
Net earnings attributable to common stockholders $ 78,448 $ 51,584 $ 199,088 $ 154,057
Net earnings per share of common stock:        
Basic (in dollars per share) $ 0.45 $ 0.30 $ 1.14 $ 0.89
Diluted (in dollars per share) $ 0.45 $ 0.30 $ 1.14 $ 0.89
Weighted average number of common shares outstanding:        
Basic (in shares) 174,629,442 172,681,136 174,610,026 171,706,577
Diluted (in shares) 174,738,903 172,782,266 174,716,053 171,815,377
Other comprehensive income:        
Net earnings attributable to NNN $ 82,933 $ 56,069 $ 212,543 $ 167,512
Amortization of interest rate hedges 565 642 2,494 1,663
Fair value of forward starting swaps (1,584) (1,584) (7,617)
Comprehensive income attributable to NNN 81,914 56,711 213,453 161,558
Comprehensive loss attributable to noncontrolling interests (1) (1) (3) (3)
Total comprehensive income $ 81,913 $ 56,710 $ 213,450 $ 161,555