v3.22.4
Derivatives (Tables)
12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments

The following table outlines NNN's terminated derivatives which were hedging the risk of changes in forecasted interest payments on forecasted issuance of long-term debt (dollars in thousands):

 

Notes
Payable

 

Terminated

 

Description

 

Aggregate
Notional
Amount

 

 

Liability (Asset)
Fair Value When
Terminated

 

 

Fair Value
Deferred
In Other
Comprehensive
Income
(1)

 

 2024

 

May 2014

 

Three forward starting swaps

 

$

225,000

 

 

$

6,312

 

 

$

6,312

 

 2025

 

October 2015

 

Four forward starting swaps

 

 

300,000

 

 

 

13,369

 

 

 

13,369

 

 2026

 

December 2016

 

Two forward starting swaps

 

 

180,000

 

 

 

(13,352

)

 

 

(13,345

)

 2027

 

September 2017

 

Two forward starting swaps

 

 

250,000

 

 

 

7,690

 

 

 

7,688

 

 2028

 

September 2018

 

Two forward starting swaps

 

 

250,000

 

 

 

(4,080

)

 

 

(4,080

)

 2030

 

March 2020

 

Three forward starting swaps

 

 

200,000

 

 

 

13,141

 

 

 

13,141

 

 2052

 

September 2021

 

Two forward starting swaps

 

 

120,000

 

 

 

1,584

 

 

 

1,584

 

 

(1)
The amount reported in accumulated other comprehensive income will be reclassified to interest expense as interest payments are made on the related notes payable.