Company: NNN
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000950170-25-017472
Chunk: 78

Company: NNN REIT, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 1B
Chunk 78
---

    —

    176

    —

    —

    176

    4,652,100 shares – ATM equity program

    47

    214,814

    —

    —

    214,861

    342,675 restricted shares – net of forfeitures

    3

    (3
    )

    —

    —

    —

    Stock issuance costs

    —

    (3,328
    )

    —

    —

    (3,328
    )

    Amortization of deferred compensation

    —

    10,538

    —

    —

    10,538

    Amortization of interest rate hedges

    —

    —

    —

    2,152

    2,152

    Balances at December 31, 2024
     
    $
    1,877

    $
    5,197,644

    $
    (829,287
    )
     
    $
    (7,959
    )
     
    $
    4,362,275

See accompanying notes to consolidated financial statements.

53

NNN REIT, INC.and SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(dollars in thousands) 

    Year Ended December 31,

    2024

    2023

    2022

    Cash flows from operating activities:

    Net earnings
     
    $
    396,835

    $
    392,340

    $
    334,621

    Adjustments to reconcile net earnings to net cash provided by      operating activities:

    Depreciation and amortization

    249,681

    238,625

    223,834

    Impairment losses – real estate, net of recoveries

    6,632

    5,990

    8,309

    Amortization of notes payable discount

    2,926

    2,074

    1,691

    Amortization of debt costs

    5,993

    4,943

    4,734

    Amortization of mortgages payable premium

    —

    (21
    )

    (87
    )

    Amortization of interest rate hedges

    2,152

    2,471

    2,374

    Gain on disposition of