Company: NNN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000950170-25-017472
Chunk: 89

Company: NNN REIT, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 1B
Chunk 89
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 on disposition of real estate reported on the Consolidated Statements of Income and Comprehensive Income. In accordance with ASC 610-20, NNN evaluates any separate contracts or performance obligations to determine proper timing and/or amount of revenue recognition, as well as, transfer of control and transaction price allocation in determining the amount of gain or loss to record. Earnings Per Share. Earnings per share have been computed pursuant to the FASB guidance included in FASB ASC Topic 260, Earnings Per Share. The guidance requires classification of the Company's unvested restricted share units which contain rights to receive nonforfeitable dividends, as participating securities requiring the two-class method of computing earnings per share. Under the two-class method, earnings per common share are computed by dividing the sum of distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted average common shares outstanding for the period. In applying the two-class method, undistributed earnings are allocated to both common shares and participating securities based on the weighted average shares outstanding during the period. The following table is a reconciliation of the numerator and denominator used in the computation of basic and diluted earnings per share using the two-class method for the years ended December 31 (dollars in thousands):  

          2024

          2023

          2022

          Basic and Diluted Earnings:

          Net earnings available to stockholders
           
          $
          396,835

          $
          392,340

          $
          334,626

          Less: Earnings allocated to unvested restricted shares

          (686
          )

          (609
          )

          (514
          )

          Net earnings used in basic and diluted earnings per share
           
          $
          396,149

          $
          391,731

          $
          334,112

          Basic and Diluted Weighted Average Shares Outstanding:

          Weighted average shares outstanding

          184,723,988

          182,184,038

          177,332,094

          Less: Unvested restricted shares

          (299,534
          )

          (273,077
          )

          (237,918
          )

          Less: Unvested contingent restricted shares

          (735,892
          )

          (710,921
          )

          (690,520
          )

          Weighted average shares outstanding used in basic earnings per share

          183,688,562