Company: NNN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000950170-25-017472
Chunk: 58

Company: NNN REIT, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 1B
Chunk 58
---
,504

    $
    612,410

    Used in investing activities

    (424,336
    )

    (680,660
    )

    Provided by (used in) financing activities

    (207,261
    )

    66,627

    Increase (decrease) in cash, cash equivalents and restricted cash

    3,907

    (1,623
    )

    Cash, cash equivalents and restricted cash at the beginning of the year

    5,155

    6,778

    Cash, cash equivalents and restricted cash at the end of the year
     
    $
    9,062

    $
    5,155

Cash flow activities include:

Operating Activities. Cash provided by operating activities represents cash received primarily from rental income less cash used for general and administrative and interest expenses. NNN's cash flow from operating activities has been sufficient to pay the distributions for each year presented. The change in cash provided by operations for the years ended December 31, 2024 and 2023, is primarily the result of changes in revenues and expenses as discussed in “Results of Operations.” Cash generated from operations is expected to fluctuate in the future.

Investing Activities. Changes in cash for investing activities are primarily attributable to acquisitions and dispositions of Properties as discussed in "Results of Operations - Property Analysis." NNN typically uses cash on hand, borrowings from its Credit Facility or proceeds from the sale of Properties to fund the acquisition of its Properties.

Financing Activities. NNN's financing activities for the year ended December 31, 2024, included the following significant transactions:

•$132,000,000 in net repayments of NNN's Credit Facility, 

•$489,390,000 in net proceeds from the issuance in May of the 5.500% notes payable due in June 2034,

•$350,000,000 payment in June for the redemption of the 3.900% notes payable due in June 2024,

•$211,619,000 from the issuance of 4,652,100 shares of common stock in connection with the at-the-market equity program ("ATM"), 

•$2,634,000 from the issuance of 64,654 shares of common stock in connection with the Dividend Reinvestment and Stock Purchase Plan (“DRIP”), and

•$420,239,000 in dividends paid to common stockholders.

37

Material Cash Requirements

NNN