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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net earnings $ 298,941 $ 295,658
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 186,487 178,546
Impairment losses – real estate, net of recoveries 2,908 3,675
Amortization of notes payable discount 2,149 1,416
Amortization of debt costs 4,538 3,648
Amortization of mortgages payable premium 0 (21)
Amortization of interest rate hedges 1,692 1,843
Gain on disposition of real estate (30,207) (40,222)
Performance incentive plan expense 9,976 8,997
Performance incentive plan payment (1,274) (916)
Change in operating assets and liabilities, net of assets acquired and liabilities assumed:    
Decrease in receivables 1,425 654
Decrease (increase) in accrued rental income 8 (1,496)
Increase in other assets (1,057) (500)
Increase in accrued interest payable 41,025 36,939
Increase in other liabilities 1,353 2,478
Other (138) 114
Net cash provided by operating activities 517,826 490,813
Cash flows from investing activities:    
Proceeds from the disposition of real estate 106,764 89,542
Additions to real estate (351,149) (524,719)
Principal payments received on mortgages and notes receivable 470 440
Other (1,099) (1,534)
Net cash used in investing activities (245,014) (436,271)
Cash flows from financing activities:    
Proceeds from line of credit payable 449,000 646,000
Repayment of line of credit payable (581,000) (812,200)
Repayment of mortgages payable 0 (9,947)
Proceeds from notes payable 493,840 488,380
Repayment of notes payable (350,000) 0
Payment of debt issuance costs (13,103) (4,248)
Proceeds from issuance of common stock 216,934 31,528
Stock issuance costs (3,206) (777)
Payment of common stock dividends (311,920) (301,793)
Net cash provided by (used in) financing activities (99,455) 36,943
Net increase in cash, cash equivalents and restricted cash [1] 173,357 91,485
Cash, cash equivalents and restricted cash at beginning of period [1] 5,155 6,778
Cash, cash equivalents and restricted cash at end of period [1] 178,512 98,263
Supplemental disclosure of cash flow information:    
Interest paid, net of amount capitalized 92,477 79,058
Supplemental disclosure of noncash investing and financing activities:    
Change in other comprehensive income 1,692 1,843
Right-of-use asset recorded in connection with lease liability 0 6,401
Change in work in progress accrual $ (2,539) $ 24,498
[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, 2024, December 31, 2023 and September 30, 2023, NNN had restricted cash of $4,986, $3,966 and $21,126, respectively.