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Condensed Consolidated Statements Of Income And Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Rental income $ 202,426 $ 190,536 $ 406,056 $ 380,299
Interest and other income from real estate transactions 214 247 692 763
Total revenues 202,640 190,783 406,748 381,062
Operating expenses:        
General and administrative 10,740 9,740 22,991 20,782
Real estate 6,836 6,173 13,682 13,371
Depreciation and amortization 59,875 57,444 119,023 110,124
Leasing transaction costs 52 76 127 164
Real estate impairments, net of recoveries 34 4,618 2,674 6,250
Executive retirement costs 309 2,655 732 6,249
Total operating expenses 77,846 80,706 159,229 156,940
Gain on disposition of real estate 13,930 775 20,230 4,767
Earnings from operations 138,724 110,852 267,749 228,889
Other expenses (revenues):        
Interest and other income (74) (52) (107) (87)
Interest expense 40,094 36,739 78,985 73,438
Total other expenses (revenues) (40,020) 36,687 78,878 73,351
Net earnings 98,704 74,165 188,871 155,538
Loss attributable to noncontrolling interests 0 6 0 5
Net earnings attributable to common stockholders $ 98,704 $ 74,171 $ 188,871 $ 155,543
Net earnings per share of common stock:        
Basic (in dollars per share) $ 0.54 $ 0.42 $ 1.04 $ 0.89
Diluted (in dollars per share) $ 0.54 $ 0.42 $ 1.04 $ 0.89
Weighted average number of common shares outstanding:        
Basic (in shares) 181,092,031 174,956,856 180,969,809 174,867,049
Diluted (in shares) 181,627,857 175,107,914 181,544,275 175,021,871
Other comprehensive income:        
Net earnings attributable to NNN $ 98,704 $ 74,171 $ 188,871 $ 155,543
Amortization of interest rate hedges 616 592 1,223 1,175
Comprehensive income attributable to NNN 99,320 74,763 190,094 156,718
Comprehensive loss attributable to noncontrolling interests 0 (6) 0 (5)
Total comprehensive income $ 99,320 $ 74,757 $ 190,094 $ 156,713