Company: NNN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000950170-25-061454
Chunk: 0

Company: NNN REIT, INC.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 0
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NNN REIT, INC. 

and SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in thousands, except per share data)

     March 31,2025

     December 31,2024

     (unaudited)

     ASSETS

     Real estate portfolio, net of accumulated depreciation and amortization
      
     $
     8,898,036

     $
     8,746,168

     Cash and cash equivalents

     5,097

     8,731

     Restricted cash and cash held in escrow

     427

     331

     Receivables, net of allowance of $679 and $617, respectively

     3,577

     2,975

     Accrued rental income, net of allowance of $3,311 and $4,156, respectively

     34,245

     34,005

     Debt costs, net of accumulated amortization of $27,725 and $27,002, respectively

     8,288

     8,958

     Other assets

     72,048

     71,560

     Total assets
      
     $
     9,021,718

     $
     8,872,728

     LIABILITIES AND EQUITY

     Liabilities:

     Line of credit payable
      
     $
     116,300

     $
     —

     Notes payable, net of unamortized discount and unamortized debt costs

     4,375,337

     4,373,803

     Accrued interest payable

     74,698

     29,699

     Other liabilities

     98,896

     106,951

     Total liabilities

     4,665,231

     4,510,453

     Equity:

     Stockholders' equity:

     Common stock, $0.01 par value. Authorized 375,000,000 shares; 187,950,480 and    187,540,929 shares issued and outstanding, respectively

     1,881

     1,877

     Capital in excess of par value

     5,203,561

     5,197,644

     Accumulated deficit

     (841,164
     )

     (829,287
     )