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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Rental income $ 723,859,000 $ 658,793,000 $ 669,009,000
Interest and other income from real estate transactions 2,548,000 1,888,000 1,478,000
Total revenues 726,407,000 660,681,000 670,487,000
Operating expenses:      
General and administrative 44,640,000 38,161,000 37,651,000
Real estate 28,385,000 28,362,000 27,656,000
Depreciation and amortization 205,220,000 196,623,000 188,871,000
Leasing transaction costs 203,000 76,000 261,000
Impairment losses - real estate, net of recoveries 21,957,000 37,442,000 31,992,000
Executive retirement costs 0 1,766,000 0
Total operating expenses 300,405,000 302,430,000 286,431,000
Gain on disposition of real estate 23,094,000 16,238,000 32,463,000
Earnings from operations 449,096,000 374,489,000 416,519,000
Other expenses (revenues):      
Interest and other income (216,000) (417,000) (3,112,000)
Interest expense 137,874,000 129,431,000 120,023,000
Loss on early extinguishment of debt 21,328,000 16,679,000 0
Total other expenses (revenues) 158,986,000 (145,693,000) 116,911,000
Net earnings 290,110,000 228,796,000 299,608,000
Loss (earnings) attributable to noncontrolling interests 3,000 3,000 (428,000)
Net earnings attributable to NNN 290,113,000 228,799,000 299,180,000
Excess of redemption value over carrying value of preferred shares redeemed (10,897,000) 0 (9,856,000)
Net earnings attributable to common stockholders $ 264,217,000 $ 210,859,000 $ 258,183,000
Net earnings per share of common stock:      
Basic (in dollars per share) $ 1.51 $ 1.22 $ 1.56
Diluted (in dollars per share) $ 1.51 $ 1.22 $ 1.56
Weighted average number of common shares outstanding:      
Basic (in shares) 174,710,921 172,109,713 164,688,498
Diluted (in shares) 174,818,899 172,217,077 165,083,679
Other comprehensive income:      
Net earnings attributable to NNN $ 290,113,000 $ 228,799,000 $ 299,180,000
Amortization of interest rate hedges 3,073,000 2,300,000 1,307,000
Fair value of forward starting swaps (1,584,000) (7,617,000) (5,524,000)
Realized gain – available-for-sale securities 0 0 116,000
Realized gain – available-for-sale securities 0 0 (1,331,000)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total 291,602,000 223,482,000 293,748,000
Comprehensive income attributable to non-controlling interests (3,000) (3,000) 428,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 291,599,000 223,479,000 294,176,000
Series E Preferred Stock      
Other expenses (revenues):      
Preferred stock dividends 0 0 (13,201,000)
Series F Preferred Stock      
Other expenses (revenues):      
Preferred stock dividends $ (14,999,000) $ (17,940,000) $ (17,940,000)