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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Rental income $ 669,009    
Rental income   $ 621,399 $ 583,595
Interest and other income from real estate transactions 1,478 1,262 1,338
Total revenues 670,487 622,661 584,933
Operating expenses:      
General and administrative 37,651 34,248 33,805
Real estate 27,656    
Real estate   25,099 23,105
Depreciation and amortization 188,871 174,398 173,720
Impairment losses – real estate and other charges, net of recoveries 31,992 28,211 8,955
Retirement severance costs 0 1,013 7,845
Total operating expenses 286,170 262,969 247,430
Gain on disposition of real estate 32,463 65,070 36,655
Earnings from operations 416,780 424,762 374,158
Other expenses (revenues):      
Interest and other income (3,112) (1,810) (322)
Interest expense 120,023 115,847 109,109
Leasing transaction costs 261 0 0
Loss on early extinguishment of debt 0 18,240 0
Total other expenses (revenues) 117,172 132,277 108,787
Net earnings 299,608 292,485 265,371
Earnings attributable to noncontrolling interests (428) (38) (398)
Net earnings attributable to NNN 299,180 292,447 264,973
Net earnings attributable to common stockholders $ 258,183 $ 258,120 $ 217,193
Net earnings per share of common stock:      
Basic (in dollars per share) $ 1.56 $ 1.65 $ 1.45
Diluted (in dollars per share) $ 1.56 $ 1.65 $ 1.45
Weighted average number of common shares outstanding:      
Basic (in shares) 164,688,498 155,744,601 149,111,188
Diluted (in shares) 165,083,679 156,295,619 149,432,641
Other comprehensive income:      
Net earnings attributable to NNN $ 299,180 $ 292,447 $ 264,973
Amortization of interest rate hedges 1,307 3,664 1,932
Fair value of forward starting swaps (5,524) 4,080 (7,688)
Realized gain – available-for-sale securities 116 298 209
Realized gain – available-for-sale securities (1,331) 0 0
Comprehensive income attributable to NNN 293,748 300,489 259,426
Series D Preferred Stock      
Other expenses (revenues):      
Preferred stock dividends 0 0 (3,598)
Excess of redemption value over carrying value of preferred shares redeemed (9,856) 0 (9,855)
Series E Preferred Stock      
Other expenses (revenues):      
Preferred stock dividends (13,201) (16,387) (16,387)
Series F Preferred Stock      
Other expenses (revenues):      
Preferred stock dividends $ (17,940) $ (17,940) $ (17,940)