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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net earnings $ 155,538 $ 129,608
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 110,124 100,855
Impairment losses – real estate, net of recoveries 6,250 9,866
Loss on early extinguishment of debt 0 21,328
Amortization of notes payable discount 837 1,350
Amortization of debt costs 2,349 2,882
Amortization of mortgages payable premium (43) (43)
Amortization of interest rate hedges 1,175 1,929
Gain on disposition of real estate (4,767) (8,462)
Performance incentive plan expense 10,837 8,717
Performance incentive plan payment (103) (721)
Change in operating assets and liabilities, net of assets acquired and liabilities assumed:    
Decrease in receivables 542 725
Decrease in accrued rental income 2,643 15,692
Decrease (increase) in other assets (1,369) 124
Increase (decrease) in accrued interest payable (745) 2,415
Decrease in other liabilities (8,008) (5,204)
Other 51 (305)
Net cash provided by operating activities 275,311 280,756
Cash flows from investing activities:    
Proceeds from the disposition of real estate 29,203 41,264
Additions to real estate accounted for using the operating method (357,460) (207,789)
Principal payments received on mortgages and notes receivable 306 288
Other (1,505) (1,001)
Net cash used in investing activities (329,456) (167,238)
Cash flows from financing activities:    
Proceeds from line of credit payable 126,000 0
Repayment of line of credit payable (86,000) 0
Repayment of mortgages payable (328) (312)
Proceeds from notes payable 0 441,594
Repayment of notes payable 0 (350,000)
Payment for early extinguishment of debt 0 (21,328)
Payment of debt issuance costs (126) (12,743)
Proceeds from issuance of common stock 33,048 2,606
Stock issuance costs (575) (224)
Payment of Series F preferred stock dividends 0 (8,970)
Payment of common stock dividends (185,629) (181,819)
Noncontrolling interests distributions (278) 0
Net cash used in financing activities (113,888) (131,196)
Net increase (decrease) in cash, cash equivalents and restricted cash (168,033) (17,678)
Cash, cash equivalents and restricted cash at beginning of period [1] 171,322 267,236
Cash, cash equivalents and restricted cash at end of period [1] 3,289 249,558
Supplemental disclosure of cash flow information:    
Interest paid, net of amount capitalized 70,139 59,266
Supplemental disclosure of noncash investing and financing activities:    
Change in other comprehensive income 1,175 1,929
Work in progress accrual balance 14,707 6,376
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 June 30, 2022 and 2021.