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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net earnings $ 212,540 $ 167,509
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 151,831 147,528
Impairment losses – real estate, net of recoveries 14,647 33,062
Loss on early extinguishment of debt 21,328 16,679
Amortization of notes payable discount 1,718 2,654
Amortization of debt costs 4,022 3,924
Amortization of mortgages payable premium (65) (64)
Amortization of interest rate hedges 2,494 1,663
Settlement of forward starting swaps (1,584) (13,141)
Gain on disposition of real estate (17,935) (13,637)
Performance incentive plan expense 12,371 9,669
Performance incentive plan payment (721) (846)
Change in operating assets and liabilities, net of assets acquired and liabilities assumed:    
Decrease (increase) in receivables 2,210 1,252
Decrease (increase) in accrued rental income 19,091 (33,464)
Decrease (increase) in other assets (167) 1,054
Increase in accrued interest payable 33,402 33,077
Decrease in other liabilities (1,782) (5,534)
Other (250) (57)
Net cash provided by operating activities 453,150 348,824
Cash flows from investing activities:    
Proceeds from the disposition of real estate 71,805 40,942
Additions to real estate accounted for using the operating method (454,743) (89,419)
Principal payments received on mortgages and notes receivable 386 283
Other (1,604) (375)
Net cash used in investing activities (384,156) (48,569)
Cash flows from financing activities:    
Proceeds from line of credit payable 311,000
Repayment of line of credit payable (444,600)
Repayment of mortgages payable (469) (443)
Proceeds from notes payable 881,172 692,646
Repayment of notes payable (350,000) (325,000)
Payment for early extinguishment of debt (21,328) (16,679)
Payment of debt issuance costs (17,125) (7,810)
Proceeds from issuance of common stock 3,325 65,440
Stock issuance costs (274) (1,241)
Payment of Series F preferred stock dividends (13,455) (13,455)
Payment of common stock dividends (274,550) (266,365)
Net cash provided by (used in) financing activities 207,296 (6,507)
Net increase (decrease) in cash, cash equivalents and restricted cash 276,290 293,748
Cash, cash equivalents and restricted cash at beginning of period [1] 267,236 1,112
Cash, cash equivalents and restricted cash at end of period [1] 543,526 294,860
Supplemental disclosure of cash flow information:    
Interest paid, net of amount capitalized 59,834 57,311
Supplemental disclosure of noncash investing and financing activities:    
Change in other comprehensive income (loss) 910 (5,954)
Work in progress accrual balance 6,264 10,131
Mortgage receivable issued in connection with real estate disposition 3,000
Restricted cash and cash held in escrow $ 0 $ 0
[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, 2021 and 2020.