2021 Q4 Form 10-Q Financial Statement

#000095017021002600 Filed on November 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $187.3M $180.4M $158.6M
YoY Change 14.67% 13.69% -5.92%
Cost Of Revenue $7.520M $6.521M $6.300M
YoY Change -7.16% 3.51% -5.97%
Gross Profit $179.7M $173.8M $152.3M
YoY Change 15.81% 14.14% -5.93%
Gross Profit Margin 95.98% 96.38% 96.01%
Selling, General & Admin $9.947M $11.08M $9.400M
YoY Change 8.12% 17.84% 8.05%
% of Gross Profit 5.53% 6.37% 6.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $53.39M $50.98M $49.40M
YoY Change 8.74% 3.19% 2.07%
% of Gross Profit 29.7% 29.32% 32.44%
Operating Expenses $63.34M $73.44M $70.86M
YoY Change 8.45% 3.64% -4.91%
Operating Profit $116.4M $116.4M $87.92M
YoY Change 20.25% 32.38% -8.56%
Interest Expense -$36.63M $33.52M $31.92M
YoY Change 14.46% 4.99% 6.6%
% of Operating Profit -31.47% 28.8% 36.31%
Other Income/Expense, Net -$57.00K $33.46M $31.85M
YoY Change 5.05% -208.16%
Pretax Income $77.57M $82.93M $56.10M
YoY Change 26.54% 47.83% -15.89%
Income Tax
% Of Pretax Income
Net Earnings $77.57M $82.93M $56.07M
YoY Change 26.54% 47.91% -15.93%
Net Earnings / Revenue 41.42% 45.98% 35.35%
Basic Earnings Per Share $0.45 $0.30
Diluted Earnings Per Share $442.9K $0.45 $0.30
COMMON SHARES
Basic Shares Outstanding 175.6M 174.6B 172.7B
Diluted Shares Outstanding 174.7B 172.8B

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $171.3M $543.5M $294.9M
YoY Change -35.88% 84.31% -16.62%
Cash & Equivalents $171.3M $543.5M $294.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $5.557M $9.709M $5.400M
Prepaid Expenses
Receivables $3.154M $2.128M $4.100M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $180.0M $555.4M $304.4M
YoY Change -35.05% 82.45% -17.86%
LONG-TERM ASSETS
Property, Plant & Equipment $7.444B $7.442B $7.172B
YoY Change 3.12% 3.77% 0.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.443M $7.960M $2.300M
YoY Change 291.74% 246.09% -25.81%
Total Long-Term Assets $7.571B $7.578B $7.330B
YoY Change 2.86% 3.37% 1.01%
TOTAL ASSETS
Total Short-Term Assets $180.0M $555.4M $304.4M
Total Long-Term Assets $7.571B $7.578B $7.330B
Total Assets $7.751B $8.133B $7.635B
YoY Change 1.48% 6.53% 0.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $23.92M $52.80M $51.30M
YoY Change -15.47% 2.93% -8.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.92M $52.80M $51.30M
YoY Change -15.47% 2.93% -8.23%
LONG-TERM LIABILITIES
Long-Term Debt $3.746B $3.746B $3.220B
YoY Change 16.32% 16.32% 12.83%
Other Long-Term Liabilities $79.00M $74.36M $76.10M
YoY Change 14.0% -2.29% -16.74%
Total Long-Term Liabilities $3.825B $3.820B $3.296B
YoY Change 16.27% 15.89% 11.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.92M $52.80M $51.30M
Total Long-Term Liabilities $3.825B $3.820B $3.296B
Total Liabilities $3.849B $3.873B $3.347B
YoY Change 16.0% 15.69% 11.54%
SHAREHOLDERS EQUITY
Retained Earnings -$747.9M -$720.2M -$611.5M
YoY Change 15.99% 17.78% 30.21%
Common Stock $1.757M $1.757M $1.739M
YoY Change 0.23% 1.04% 1.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.902B $4.260B $4.287B
YoY Change
Total Liabilities & Shareholders Equity $7.751B $8.133B $7.635B
YoY Change 1.48% 6.53% 0.09%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $77.57M $82.93M $56.07M
YoY Change 26.54% 47.91% -15.93%
Depreciation, Depletion And Amortization $53.39M $50.98M $49.40M
YoY Change 8.74% 3.19% 2.07%
Cash From Operating Activities $115.3M $172.4M $161.1M
YoY Change 13.68% 7.01% -1.59%
INVESTING ACTIVITIES
Capital Expenditures -$98.58M -$247.0M -$10.50M
YoY Change -7.44% 2251.94% -91.73%
Acquisitions
YoY Change
Other Investing Activities $50.56M $30.04M $3.500M
YoY Change 314.41% 758.17% -90.22%
Cash From Investing Activities -$48.02M -$216.9M -$7.100M
YoY Change -49.02% 2955.18% -92.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -439.5M 338.5M -83.70M
YoY Change 1162.81% -504.41% -130.0%
NET CHANGE
Cash From Operating Activities 115.3M 172.4M 161.1M
Cash From Investing Activities -48.02M -216.9M -7.100M
Cash From Financing Activities -439.5M 338.5M -83.70M
Net Change In Cash -372.2M 294.0M 70.30M
YoY Change 1248.57% 318.16% -80.0%
FREE CASH FLOW
Cash From Operating Activities $115.3M $172.4M $161.1M
Capital Expenditures -$98.58M -$247.0M -$10.50M
Free Cash Flow $213.9M $419.3M $171.6M
YoY Change 2.86% 144.38% -40.97%

Facts In Submission

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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
171706577000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174738903000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172782266000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174716053000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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NetIncomeLoss
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CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
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StockIssuanceCosts
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nnn Amortization Of Deferred Compensation
AmortizationOfDeferredCompensation
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CY2020Q3 nnn Amortization Of Deferred Compensation
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us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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StockIssuedDuringPeriodValueIssuedForServices
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StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
56710000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
213450000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
161555000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q3 us-gaap Profit Loss
ProfitLoss
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CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2021Q3 us-gaap Dividends Common Stock Cash
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CY2021Q3 us-gaap Stock Issued During Period Shares Issued For Services
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CY2021Q3 us-gaap Stock Issued During Period Value Issued For Services
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CY2021Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
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CY2021Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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StockIssuanceCosts
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CY2021Q3 nnn Amortization Of Deferred Compensation
AmortizationOfDeferredCompensation
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CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
565000
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
1584000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q3 us-gaap Profit Loss
ProfitLoss
56068000
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.5200
CY2020Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
86799000
CY2020Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
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CY2020Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2020Q3 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
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CY2020Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2020Q3 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
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CY2020Q3 us-gaap Stock Issued During Period Value Other
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CY2020Q3 nnn Stock Issuance Costs
StockIssuanceCosts
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
1584000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
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StockIssuedDuringPeriodSharesIssuedForServices
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StockIssuedDuringPeriodValueIssuedForServices
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StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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StockIssuedDuringPeriodSharesOther
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us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
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us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
263406
nnn Stock Issuance Costs
StockIssuanceCosts
1230000
nnn Amortization Of Deferred Compensation
AmortizationOfDeferredCompensation
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
1663000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
7617000
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4287209000
us-gaap Profit Loss
ProfitLoss
212540000
us-gaap Profit Loss
ProfitLoss
167509000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
151831000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
147528000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
14647000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
33062000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1718000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2654000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4022000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3924000
nnn Amortization Of Mortgages Premium
AmortizationOfMortgagesPremium
65000
nnn Amortization Of Mortgages Premium
AmortizationOfMortgagesPremium
64000
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
2494000
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
1663000
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
1584000
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
13141000
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
17935000
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
13637000
nnn Performance Incentive Plan Expense
PerformanceIncentivePlanExpense
12371000
nnn Performance Incentive Plan Expense
PerformanceIncentivePlanExpense
9669000
nnn Performance Incentive Plan Payment
PerformanceIncentivePlanPayment
721000
nnn Performance Incentive Plan Payment
PerformanceIncentivePlanPayment
846000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-2210000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-1252000
nnn Increase Decrease In Accrued Rental Income
IncreaseDecreaseInAccruedRentalIncome
-19091000
nnn Increase Decrease In Accrued Rental Income
IncreaseDecreaseInAccruedRentalIncome
33464000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
167000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1054000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
33402000
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
33077000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1782000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-5534000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
250000
CY2020Q3 nnn Restricted Cash And Investments Restricted Cash And Cash Held In Escrow Current
RestrictedCashAndInvestmentsRestrictedCashAndCashHeldInEscrowCurrent
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
348824000
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
71805000
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
40942000
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
454743000
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
89419000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
386000
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
283000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1604000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
375000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-384156000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-48569000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
311000000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
444600000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
469000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
443000
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
881172000
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
692646000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
350000000
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
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us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
21328000
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
17125000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7810000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3325000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
65440000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
274000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1241000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
13455000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
13455000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
274550000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
266365000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
207296000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6507000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
276290000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
293748000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
267236000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1112000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
543526000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
294860000
us-gaap Interest Paid Net
InterestPaidNet
59834000
us-gaap Interest Paid Net
InterestPaidNet
57311000
nnn Supplemental Change In Other Comprehensive Income
SupplementalChangeInOtherComprehensiveIncome
910000
nnn Supplemental Change In Other Comprehensive Income
SupplementalChangeInOtherComprehensiveIncome
-5954000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6264000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10131000
us-gaap Notes Issued1
NotesIssued1
3000000
CY2021Q3 nnn Restricted Cash And Investments Restricted Cash And Cash Held In Escrow Current
RestrictedCashAndInvestmentsRestrictedCashAndCashHeldInEscrowCurrent
0
CY2021Q3 nnn Investment Properties Total
InvestmentPropertiesTotal
3195
CY2021Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
33005000
CY2021Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
48
nnn Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P10Y7M6D
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
215000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1218000
CY2021Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
87000
CY2020Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
332000
CY2021Q3 nnn Lease Income Recognized On Cash Basis Percentage Of Total Properties
LeaseIncomeRecognizedOnCashBasisPercentageOfTotalProperties
0.06
CY2021Q3 nnn Lease Income Recognized On Cash Basis Percentage Of Aggregate Gross Leasable Area
LeaseIncomeRecognizedOnCashBasisPercentageOfAggregateGrossLeasableArea
0.07
CY2021Q3 nnn Lease Income Recognized On Cash Basis Number Of Tenants
LeaseIncomeRecognizedOnCashBasisNumberOfTenants
11
nnn Lease Income Recognized On Cash Basis
LeaseIncomeRecognizedOnCashBasis
37999000
nnn Lease Income Recognized On Cash Basis
LeaseIncomeRecognizedOnCashBasis
930000
CY2021Q3 nnn Lease Income Recognized On Cash Basis
LeaseIncomeRecognizedOnCashBasis
13630000
CY2020Q3 nnn Lease Income Recognized On Cash Basis
LeaseIncomeRecognizedOnCashBasis
726000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
82933000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
56069000
us-gaap Net Income Loss
NetIncomeLoss
212543000
us-gaap Net Income Loss
NetIncomeLoss
167512000
CY2021Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4485000
CY2020Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4485000
us-gaap Dividends Preferred Stock
DividendsPreferredStock
13455000
us-gaap Dividends Preferred Stock
DividendsPreferredStock
13455000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
78448000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
51584000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
199088000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
154057000
CY2021Q3 nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
180000
CY2020Q3 nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
179000
nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
509000
nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
516000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
78268000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
51405000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
198579000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
153541000
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
175607905000
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
173596374000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
175530702000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
172579042000
CY2021Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
340725000
CY2020Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
344429000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
323808000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
332730000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
637738000
CY2021Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
6331216000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
570809000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
596868000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
539735000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
174629442000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
172681136000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
174610026000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
171706577000
CY2021Q3 nnn Incremental Common Shares Attributable To Dilutive Effect Other
IncrementalCommonSharesAttributableToDilutiveEffectOther
109461000
CY2020Q3 nnn Incremental Common Shares Attributable To Dilutive Effect Other
IncrementalCommonSharesAttributableToDilutiveEffectOther
101130000
nnn Incremental Common Shares Attributable To Dilutive Effect Other
IncrementalCommonSharesAttributableToDilutiveEffectOther
106027000
nnn Incremental Common Shares Attributable To Dilutive Effect Other
IncrementalCommonSharesAttributableToDilutiveEffectOther
108800000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174738903000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172782266000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174716053000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171815377000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;text-decoration:underline;font-size:10.0pt;font-family:Times New Roman;">Use of Estimates</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> – Additional critical accounting policies of NNN include management’s estimates and assumptions relating to the reporting of assets and liabilities, revenues and expenses and the disclosure of contingent assets and liabilities and are required to prepare the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. Significant accounting policies include management’s estimates of the useful lives used in calculating depreciation expense relating to real estate asset purchase accounting for acquisition of real estate subject to a lease, the recoverability of the carrying value of long-lived assets and management's evaluation of the probability of outstanding and future lease payment collections. Actual results could differ from those estimates.</span><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
nnn Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P10Y7M6D
CY2021Q3 nnn Number Of Investment Properties Leased Under Operating Leases
NumberOfInvestmentPropertiesLeasedUnderOperatingLeases
3187
CY2021Q3 nnn Number Of Investment Properties Leased Under Direct Financing Leases
NumberOfInvestmentPropertiesLeasedUnderDirectFinancingLeases
6
CY2021Q3 nnn Lessor Lease Rent Deferral Lease Amendments Due To Covid19 Deferred Rent Originally Due Current Fiscal Year
LessorLeaseRentDeferralLeaseAmendmentsDueToCovid19DeferredRentOriginallyDueCurrentFiscalYear
4758000
CY2020Q4 nnn Lessor Lease Rent Deferral Lease Amendments Due To Covid19 Deferred Rent Originally Due Prior Fiscal Year
LessorLeaseRentDeferralLeaseAmendmentsDueToCovid19DeferredRentOriginallyDuePriorFiscalYear
52019000
CY2021Q1 nnn Lessor Lease Rent Deferral Lease Amendments Due To Covid19 Deferred Rent Repaid
LessorLeaseRentDeferralLeaseAmendmentsDueToCovid19DeferredRentRepaid
3259000
CY2021Q3 nnn Lessor Lease Rent Deferral Lease Amendments Due To Covid19 Deferred Rent Repaid
LessorLeaseRentDeferralLeaseAmendmentsDueToCovid19DeferredRentRepaid
6068000
nnn Lessor Lease Rent Deferral Lease Amendments Due To Covid19 Deferred Rent Repaid
LessorLeaseRentDeferralLeaseAmendmentsDueToCovid19DeferredRentRepaid
27087000
CY2021Q3 nnn Lessor Lease Rent Deferral Lease Amendments Due To Covid19 Deferred Rent Due Current Fiscal Year
LessorLeaseRentDeferralLeaseAmendmentsDueToCovid19DeferredRentDueCurrentFiscalYear
4689000
CY2021Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
2533379000
CY2020Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
2489243000
CY2021Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8864950000
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8499395000
CY2020Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
6009797000
CY2021Q3 us-gaap Tenant Improvements
TenantImprovements
355000
CY2021Q3 us-gaap Straight Line Rent
StraightLineRent
-4294000
CY2020Q4 us-gaap Tenant Improvements
TenantImprovements
355000
us-gaap Lease Income
LeaseIncome
495891000
nnn Lease Income Accrued During Period
LeaseIncomeAccruedDuringPeriod
-19427000
nnn Lease Income Accrued During Period
LeaseIncomeAccruedDuringPeriod
33022000
CY2021Q3 nnn Lease Income Accrued During Period
LeaseIncomeAccruedDuringPeriod
-3509000
CY2020Q3 nnn Lease Income Accrued During Period
LeaseIncomeAccruedDuringPeriod
2305000
us-gaap Straight Line Rent
StraightLineRent
-21996000
us-gaap Straight Line Rent
StraightLineRent
38938000
CY2021Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1434760000
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1317407000
CY2021Q3 nnn Real Estate Investment Property Net Before Development In Process
RealEstateInvestmentPropertyNetBeforeDevelopmentInProcess
7430190000
CY2020Q4 nnn Real Estate Investment Property Net Before Development In Process
RealEstateInvestmentPropertyNetBeforeDevelopmentInProcess
7181988000
CY2021Q3 us-gaap Development In Process
DevelopmentInProcess
8551000
CY2020Q4 us-gaap Development In Process
DevelopmentInProcess
26673000
CY2021Q3 nnn Operating Lease Net Investment In Lease
OperatingLeaseNetInvestmentInLease
7438741000
CY2020Q4 nnn Operating Lease Net Investment In Lease
OperatingLeaseNetInvestmentInLease
7208661000
CY2021Q3 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
3732000
CY2020Q4 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
3994000
CY2021Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7442473000
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7212655000
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
175833000
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
153825000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
522787000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
481858000
CY2021Q3 us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
154000
CY2020Q3 us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
161000
us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
469000
us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
487000
CY2021Q3 us-gaap Variable Lease Income
VariableLeaseIncome
195000
CY2020Q3 us-gaap Variable Lease Income
VariableLeaseIncome
160000
us-gaap Variable Lease Income
VariableLeaseIncome
530000
us-gaap Variable Lease Income
VariableLeaseIncome
728000
CY2021Q3 nnn Operating Lease Income Statement Real Estate Expense Reimbursement From Tenants
OperatingLeaseIncomeStatementRealEstateExpenseReimbursementFromTenants
3842000
CY2020Q3 nnn Operating Lease Income Statement Real Estate Expense Reimbursement From Tenants
OperatingLeaseIncomeStatementRealEstateExpenseReimbursementFromTenants
3719000
nnn Operating Lease Income Statement Real Estate Expense Reimbursement From Tenants
OperatingLeaseIncomeStatementRealEstateExpenseReimbursementFromTenants
13440000
nnn Operating Lease Income Statement Real Estate Expense Reimbursement From Tenants
OperatingLeaseIncomeStatementRealEstateExpenseReimbursementFromTenants
12818000
CY2021Q3 us-gaap Lease Income
LeaseIncome
180024000
CY2020Q3 us-gaap Lease Income
LeaseIncome
157865000
us-gaap Lease Income
LeaseIncome
537226000
CY2020Q3 us-gaap Straight Line Rent
StraightLineRent
8499000
CY2021Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
34341000
CY2020Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
53958000
CY2021Q3 nnn Deferred Rent Receivables Allowance For Credit Loss
DeferredRentReceivablesAllowanceForCreditLoss
4922000
CY2020Q4 nnn Deferred Rent Receivables Allowance For Credit Loss
DeferredRentReceivablesAllowanceForCreditLoss
6947000
CY2021Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
41932000
CY2020Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
41101000
CY2021Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
27217000
CY2020Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
26486000
CY2021Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
14715000
CY2020Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
14615000
CY2021Q3 nnn Number Of Properties Classified As Held For Sale
NumberOfPropertiesClassifiedAsHeldForSale
5
CY2020Q4 nnn Number Of Properties Classified As Held For Sale
NumberOfPropertiesClassifiedAsHeldForSale
5
CY2021Q3 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
9272000
CY2020Q4 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
3841000
CY2021Q3 nnn Inventory Building Held For Sale
InventoryBuildingHeldForSale
14463000
CY2020Q4 nnn Inventory Building Held For Sale
InventoryBuildingHeldForSale
4971000
CY2021Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
23735000
CY2020Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
8812000
CY2021Q3 nnn Inventory Real Estate Held For Sale Accumulated Depreciation
InventoryRealEstateHeldForSaleAccumulatedDepreciation
4249000
CY2020Q4 nnn Inventory Real Estate Held For Sale Accumulated Depreciation
InventoryRealEstateHeldForSaleAccumulatedDepreciation
2536000
CY2021Q3 nnn Accumulated Impairment Real Estate Held For Sale
AccumulatedImpairmentRealEstateHeldForSale
9777000
CY2020Q4 nnn Accumulated Impairment Real Estate Held For Sale
AccumulatedImpairmentRealEstateHeldForSale
605000
CY2021Q3 us-gaap Inventory Real Estate Held For Sale
InventoryRealEstateHeldForSale
9709000
CY2020Q4 us-gaap Inventory Real Estate Held For Sale
InventoryRealEstateHeldForSale
5671000
CY2021Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
9473000
CY2020Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
148000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
17935000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
13637000
CY2021Q3 nnn Real Estate Investment Funding Construction Commitments Number Of Properties
RealEstateInvestmentFundingConstructionCommitmentsNumberOfProperties
10
nnn Period For Improvements To Construction Commitments
PeriodForImprovementsToConstructionCommitments
P12M
CY2021Q3 nnn Real Estate Investment Funding Commitments
RealEstateInvestmentFundingCommitments
39122000
CY2021Q3 nnn Real Estate Investment Funding Commitments Amount Funded
RealEstateInvestmentFundingCommitmentsAmountFunded
17395000
CY2021Q3 nnn Real Estate Investment Funding Commitments Remaining Commitment
RealEstateInvestmentFundingCommitmentsRemainingCommitment
21727000
CY2021Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
4781000
CY2020Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
5695000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
14647000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
33062000
CY2021Q3 nnn Number Of Impaired Real Estate Properties Vacant
NumberOfImpairedRealEstatePropertiesVacant
5
CY2020Q3 nnn Number Of Impaired Real Estate Properties Vacant
NumberOfImpairedRealEstatePropertiesVacant
1
nnn Number Of Impaired Real Estate Properties Vacant
NumberOfImpairedRealEstatePropertiesVacant
19
nnn Number Of Impaired Real Estate Properties Vacant
NumberOfImpairedRealEstatePropertiesVacant
10
CY2021Q3 nnn Number Of Impaired Real Estate Properties Occupied
NumberOfImpairedRealEstatePropertiesOccupied
2
nnn Number Of Impaired Real Estate Properties Occupied
NumberOfImpairedRealEstatePropertiesOccupied
10
nnn Number Of Impaired Real Estate Properties Occupied
NumberOfImpairedRealEstatePropertiesOccupied
13
CY2021Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
92731000
CY2020Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
89947000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
274550000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
266365000
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.5300
CY2020Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.5200
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.5700
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.5500
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
2494000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
1663000
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
565000
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
642000
CY2021Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
2349000000
CY2021Q3 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
4026563000
CY2020Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
3532908000

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