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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net earnings $ 243,959 $ 212,540
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 166,512 151,831
Impairment losses – real estate, net of recoveries 7,221 14,647
Loss on early extinguishment of debt 0 21,328
Amortization of notes payable discount 1,262 1,718
Amortization of debt costs 3,533 4,022
Amortization of mortgages payable premium (65) (65)
Amortization of interest rate hedges 1,770 2,494
Settlement of forward starting swaps 0 (1,584)
Gain on disposition of real estate (10,656) (17,935)
Performance incentive plan expense 14,000 12,371
Performance incentive plan payment (103) (721)
Change in operating assets and liabilities, net of assets acquired and liabilities assumed:    
Decrease in receivables 1,264 2,210
Decrease in accrued rental income 3,298 19,091
Increase in other assets (822) (167)
Increase in accrued interest payable 33,461 33,402
Increase (decrease) in other liabilities 641 (1,782)
Other (4) (250)
Net cash provided by operating activities 465,271 453,150
Cash flows from investing activities:    
Proceeds from the disposition of real estate 50,919 71,805
Additions to real estate accounted for using the operating method (576,188) (454,743)
Principal payments received on mortgages and notes receivable 412 386
Other (1,951) (1,604)
Net cash used in investing activities (526,808) (384,156)
Cash flows from financing activities:    
Proceeds from line of credit payable 344,000 0
Repayment of line of credit payable (296,500) 0
Repayment of mortgages payable (494) (469)
Proceeds from notes payable 0 881,172
Repayment of notes payable 0 (350,000)
Payment for early extinguishment of debt 0 (21,328)
Payment of debt issuance costs (127) (17,125)
Proceeds from issuance of common stock 131,407 3,325
Stock issuance costs (1,879) (274)
Payment of Series F preferred stock dividends 0 (13,455)
Payment of common stock dividends (282,637) (274,550)
Noncontrolling interests distributions (278) 0
Net cash provided by (used in) financing activities (106,508) 207,296
Net increase (decrease) in cash, cash equivalents and restricted cash (168,045) 276,290
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] 3,277 543,526
Supplemental disclosure of cash flow information:    
Interest paid, net of amount capitalized 70,986 59,834
Supplemental disclosure of noncash investing and financing activities:    
Change in other comprehensive income 1,770 910
Work in progress accrual balance at end of period 19,102 6,264
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, 2022 and 2021.