0001193125-17-277330.txt : 20170906 0001193125-17-277330.hdr.sgml : 20170906 20170906091333 ACCESSION NUMBER: 0001193125-17-277330 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170906 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170906 DATE AS OF CHANGE: 20170906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL RETAIL PROPERTIES, INC. CENTRAL INDEX KEY: 0000751364 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 561431377 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11290 FILM NUMBER: 171070352 BUSINESS ADDRESS: STREET 1: 450 S ORANGE AVE STREET 2: SUITE 900 CITY: ORLANDO STATE: FL ZIP: 32801 BUSINESS PHONE: 407-666-7348 MAIL ADDRESS: STREET 1: 450 SOUTH ORANGE AVE STREET 2: SUITE 900 CITY: ORLANDO STATE: FL ZIP: 32801 FORMER COMPANY: FORMER CONFORMED NAME: COMMERCIAL NET LEASE REALTY INC DATE OF NAME CHANGE: 19930510 FORMER COMPANY: FORMER CONFORMED NAME: CNL REALTY INVESTORS INC /DE/ DATE OF NAME CHANGE: 19930429 FORMER COMPANY: FORMER CONFORMED NAME: CNL REALTY INVESTORS INC DATE OF NAME CHANGE: 19920831 8-K 1 d428824d8k.htm 8-K 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 6, 2017

 

 

NATIONAL RETAIL PROPERTIES, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Maryland   001-11290   56-1431377

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

450 South Orange Avenue

Suite 900

Orlando, Florida

   32801
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (407) 265-7348

Not applicable

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

Item 8.01. Other Events

The exhibit listed in the following index relates to the Registration Statement on Form S-3 (No. 333-202237) of the registrant and is filed herewith for incorporation by reference into such Registration Statement.

Item 9.01. Financial Statements and Exhibits

 

  (d) Exhibits.

 

  12.1 Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

NATIONAL RETAIL PROPERTIES, INC.
By:  

/s/ Kevin B. Habicht

Name:   Kevin B. Habicht
Title:   Executive Vice President,
  Chief Financial Officer,
  Assistant Secretary and Treasurer

Dated: September 6, 2017

EX-12.1 2 d428824dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

NATIONAL RETAIL PROPERTIES, INC. AND SUBSIDIARIES

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(dollars in thousands)

 

     Six Months Ended
June 30, 2017		     2016      2015      2014      2013      2012  

Pretax income from continuing operations before income from equity investees

    $ 132,057     $ 239,506      $ 208,386      $ 191,289      $ 155,631      $ 117,333  

Add:

                 

Fixed charges (excluding capitalized interest)

      53,799       96,168        89,973        85,514        85,912        83,937  

Distributed income from equity investees

      —         —          —          —          —          8,239  
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Pretax earnings from operations, as adjusted

    $ 185,856     $ 335,674      $ 298,359      $ 276,803      $ 241,543      $ 209,509  
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed Charges:

                 

Interest on indebtedness

    $ 50,343     $ 89,057      $ 84,080      $ 80,370      $ 79,175      $ 76,153  

Capitalized interest

      1,113       1,738        2,383        1,628        1,369        1,540  

Amortization of net discount relating to indebtedness

      836       1,246        1,100        1,238        3,188        4,975  

Amortization of interest rate hedges

      902       2,802        1,902        1,129        438        231  

Amortization of deferred charges

      1,718       3,063        2,891        2,777        3,111        2,578  
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges

    $ 54,912     $ 97,906      $ 92,356      $ 87,142      $ 87,281      $ 85,477  
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of net earnings to fixed charges

      3.38 (A)      3.43        3.23        3.18        2.77        2.45  
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges

    $ 54,912     $ 97,906      $ 92,356      $ 87,142      $ 87,281      $ 85,477  

Preferred stock dividends

      20,762       38,623        35,434        35,434        27,923        17,428  
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Combined fixed charges and preferred stock dividends

    $ 75,674     $ 136,529      $ 127,790      $ 122,576      $ 115,204      $ 102,905  
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to combined fixed charges and preferred stock dividends

      2.46 (A)      2.46        2.33        2.26        2.10        2.04  
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(A)  Excluding the effect of $7.4 million in retirement severance costs, ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends would have been 3.52x and 2.55x, respectively. Retirement severance costs relate primarily to Craig Macnab’s retirement as the registrant’s chief executive officer on April 28, 2017.