Company: NNN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000950170-25-017472
Chunk: 176

Company: NNN REIT, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 6
Chunk 176
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 a hedging instrument or management determines that designation of the derivative as a hedging instrument is no longer appropriate. When hedge accounting is discontinued, NNN recognizes any changes in its fair value in earnings and continues to carry the derivative on the balance sheet or may choose to settle the derivative at that time with a cash payment or receipt. NNN records a cash settlement of forward starting swaps in the statement of cash flows as an operating activity.The following table outlines NNN's terminated derivatives which were hedging the risk of changes in forecasted interest payments on forecasted issuance of long-term debt (dollars in thousands): 

        Notes
         
        Terminated
         
        Description
         
        AggregateNotionalAmount

        Liability (Asset)Fair Value WhenTerminated

        Fair ValueDeferredIn OtherComprehensiveIncome(1)

         2025
         
        October 2015
         
        Four forward starting swaps
         
        $
        300,000

        $
        13,369

        $
        13,369

         2026
         
        December 2016
         
        Two forward starting swaps

        180,000

        (13,352
        )

        (13,345
        )

         2027
         
        September 2017
         
        Two forward starting swaps

        250,000

        7,690

        7,688

         2028
         
        September 2018
         
        Two forward starting swaps

        250,000

        (4,080
        )

        (4,080
        )

         2030
         
        March 2020
         
        Three forward starting swaps

        200,000

        13,141

        13,141

         2052
         
        September 2021
         
        Two forward starting swaps

        120,000

        1,584

        1,584

       (1)The amount reported in accumulated other comprehensive income (loss) will be reclassified to interest expense as interest payments are made on the related notes payable.As of December 31, 2024, $7,959,000 remains in accumulated other comprehensive income (loss) related to NNN's previously terminated interest rate hedges. During the years ended December 31, 2024, 2023 and