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Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net earnings $ 295,658 $ 243,959
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 178,546 166,512
Impairment losses – real estate, net of recoveries 3,675 7,221
Amortization of notes payable discount 1,416 1,262
Amortization of debt costs 3,648 3,533
Amortization of mortgages payable premium (21) (65)
Amortization of interest rate hedges 1,843 1,770
Gain on disposition of real estate (40,222) (10,656)
Performance incentive plan expense 8,997 14,000
Performance incentive plan payment (916) (103)
Change in operating assets and liabilities, net of assets acquired and liabilities assumed:    
Decrease in receivables 654 1,264
Decrease in accrued rental income (1,496) 3,298
Increase in other assets (500) (822)
Increase (decrease) in accrued interest payable 36,939 33,461
Decrease in other liabilities 2,478 641
Other 114 (4)
Net cash provided by operating activities 490,813 465,271
Cash flows from investing activities:    
Proceeds from the disposition of real estate 89,542 50,919
Additions to real estate (524,719) (576,188)
Principal payments received on mortgages and notes receivable 440 412
Other (1,534) (1,951)
Net cash used in investing activities (436,271) (526,808)
Cash flows from financing activities:    
Proceeds from line of credit payable 646,000 344,000
Repayment of line of credit payable (812,200) (296,500)
Repayment of mortgages payable (9,947) (494)
Proceeds from notes payable 488,380 0
Payment of debt issuance costs (4,248) (127)
Proceeds from issuance of common stock 31,528 131,407
Stock issuance costs (777) (1,879)
Payment of common stock dividends (301,793) (282,637)
Noncontrolling interests distributions 0 (278)
Net cash provided by (used in) financing activities 36,943 (106,508)
Net increase (decrease) in cash, cash equivalents and restricted cash 91,485 (168,045)
Cash, cash equivalents and restricted cash at beginning of period [1] 6,778 171,322
Cash, cash equivalents and restricted cash at end of period [1] 98,263 3,277
Supplemental disclosure of cash flow information:    
Interest paid, net of amount capitalized 79,058 70,986
Supplemental disclosure of noncash investing and financing activities:    
Change in other comprehensive income 1,843 1,770
Right-of-use asset recorded in connection with lease liability 6,401 0
Work in progress accrual balance at end of period $ 36,661 $ 19,102
[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. As of September 30, 2023, NNN had restricted cash of $21,126. NNN did not have restricted cash and cash held in escrow as of September 30, 2022.