v3.22.4
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Rental income $ 771,618,000 $ 723,859,000 $ 658,793,000
Interest and other income from real estate transactions 1,435,000 2,548,000 1,888,000
Total revenues 773,053,000 726,407,000 660,681,000
Operating expenses:      
General and administrative 41,695,000 44,640,000 38,161,000
Real estate 26,281,000 28,385,000 28,362,000
Depreciation and amortization 223,834,000 205,220,000 196,623,000
Leasing transaction costs 320,000 203,000 76,000
Impairment losses - real estate, net of recoveries 8,309,000 21,957,000 37,442,000
Executive retirement costs 7,520,000 0 1,766,000
Total operating expenses 307,959,000 300,405,000 302,430,000
Gain on disposition of real estate 17,443,000 23,094,000 16,238,000
Earnings from operations 482,537,000 449,096,000 374,489,000
Other expenses (revenues):      
Interest and other income (149,000) (216,000) (417,000)
Interest expense 148,065,000 137,874,000 129,431,000
Loss on early extinguishment of debt 0 21,328,000 16,679,000
Total other expenses (revenues) 147,916,000 158,986,000 145,693,000
Net earnings 334,621,000 290,110,000 228,796,000
Loss (earnings) attributable to noncontrolling interests 5,000 3,000 3,000
Net earnings attributable to NNN 334,626,000 290,113,000 228,799,000
Preferred stock dividends 0 (14,999,000) (17,940,000)
Excess of redemption value over carrying value of preferred shares redeemed 0 (10,897,000) 0
Net earnings attributable to common stockholders $ 334,626,000 $ 264,217,000 $ 210,859,000
Net earnings per share of common stock:      
Basic (in dollars per share) $ 1.89 $ 1.51 $ 1.22
Diluted (in dollars per share) $ 1.89 $ 1.51 $ 1.22
Weighted average number of common shares outstanding:      
Basic (in shares) 176,403,656 174,710,921 172,109,713
Diluted (in shares) 177,067,865 174,818,899 172,217,077
Other comprehensive income:      
Net earnings attributable to NNN $ 334,626,000 $ 290,113,000 $ 228,799,000
Amortization of interest rate hedges 2,374,000 3,073,000 2,300,000
Fair value of forward starting swaps 0 (1,584,000) (7,617,000)
Comprehensive income attributable to NNN 337,000,000 291,602,000 223,482,000
Comprehensive income attributable to non-controlling interests (5,000) (3,000) (3,000)
Total comprehensive income 336,995,000 291,599,000 223,479,000
Series F Preferred Stock      
Other expenses (revenues):      
Preferred stock dividends $ 0 $ (14,999,000) $ (17,940,000)