NATIONAL RETAIL PROPERTIES, INC. NNN Income Statement

National retail properties, inc. (NNN)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues:
Lease Income
669,009	621,399	583,595	512,883	462,346	414,043	372,913	312,629	239,758	204,627	207,734	205,334
Earned income from direct financing leases
-	-	-	1,336	1,506	1,725	1,955	2,119	2,367	2,915	3,070	3,103
Percentage rent
-	-	-	1,735	1,430	1,074	1,556	1,165	1,093	919	1,310	1,104
Real estate expense reimbursement from tenants
-	-	-	14,984	14,868	13,875	13,340	11,817	10,080	7,181	8,138	6,980
Interest and other income from real estate transactions
1,478	1,262	1,338	2,709	988	2,326	1,471	2,243	2,287	2,982	4,323	5,807
Interest income on commercial mortgage residual interests
-	-	-	-	1,778	1,834	2,290	2,673	3,105	3,460	4,252	4,636
Total revenues
670,487	622,661	584,933	533,647	482,916	434,877	393,525	332,646	258,690	222,084	228,827	226,964
Gross proceeds
-	-	-	-	-	-	-	-	-	-	-	-4,900
Costs
-	-	-	-	-	-	-	-	-	-	-	-4,879
Gain
-	-	-	-	-	-	-	-	-	-	-	21
Revenues
-	-	-	-	-	-	-	19,008	45,139	32,958	15,595	-
Operating expenses
-	-	-	-	-	-	-	18,542	43,088	31,647	15,176	-
Net
-	-	-	-	-	-	-	466	2,051	1,311	419	-
Operating expenses:
General and administrative
37,651	34,248	33,805	36,508	34,736	32,518	31,095	31,828	28,796	22,764	21,774	24,875
Real estate
27,656	25,099	23,105	20,852	19,776	18,935	18,497	17,425	16,997	13,177	13,497	10,152
Depreciation and amortization
188,871	174,398	173,720	149,101	134,798	116,162	99,274	73,806	56,466	46,887	46,258	43,668
Leasing transaction costs
261	0	0	-	-	-	-	-	-	-	-	-
Impairment – commercial mortgage residual interests valuation
-	-	-	6,830	531	256	1,185	2,812	1,024	3,995	498	758
Impairment losses – real estate and other charges, net of recoveries
31,992	28,211	8,955	11,287	4,420	760	3,580	3,899	-1,349	7,458	36,080	1,234
Retirement severance costs
0	1,013	7,845	0	0	-	-	-	-	-	-	-
Restructuring Costs
-	-	-	-	-	-	-	-	-	-	731	-
Total operating expenses
286,170	262,969	247,430	224,578	194,261	168,631	153,631	129,770	101,934	94,281	118,838	80,687
Gain on disposition of real estate
32,463	65,070	36,655	27,182	10,450	11,269	107	0	297	641	37	-
Earnings before gain on disposition of real estate
-	-	-	-	-	179,777	154,006	132,388	84,740	66,042	54,567	97,858
Real estate, Investment Portfolio, net of income tax expense
-	-	-	-	-	-	-	-	-	-	-	12,914
Real estate, Inventory Portfolio, net of income tax expense
-	-	-	-	-	-	-	-	-	-	-	9,199
Earnings from discontinued operations, net of income tax expense
-	-	-	-	-	124	5,972	9,549	7,676	7,311	1,832	22,113
Earnings before gain on disposition of real estate, net of income tax expense
-	-	-	-	187,511	179,901	159,978	141,937	-	-	-	-
Earnings from operations
416,780	424,762	374,158	336,251	288,655	266,246	239,894	203,342	158,807	129,114	110,408	146,298
Other expenses (revenues):
Interest and other income
3,112	1,810	322	170	109	357	1,493	2,232	1,593	1,513	1,371	3,748
Interest expense
120,023	115,847	109,109	96,352	90,008	85,510	85,822	83,787	75,532	65,179	62,151	63,964
Real estate acquisition costs
-	-	-	563	927	1,391	1,485	364	-	-	-	-
Earnings from operations before income tax expense
-	-	-	-	197,829	179,702	154,080	121,423	84,868	65,448	49,628	85,278
Income tax expense
-	-	-	-	10,318	-75	74	-6,891	899	475	-1,049	-7,255
Equity in earnings of unconsolidated affiliate
-	-	-	-	-	-	-	4,074	474	428	421	364
Loss on early extinguishment of debt
0	-18,240	0	0	-	-	-	-	-	-	3,432	4,961
Loss on interest rate hedge
-	-	-	-	-	-	-	-	-	-	-	-804
Total other expenses (revenues)
-117,172	-132,277	-108,787	-96,745	-90,826	-86,544	-85,814	-81,919	-73,939	-63,666	-60,780	-61,020
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
299,608	292,485	265,371	239,506	197,961	191,170	160,085	141,937	92,416	73,353	56,399	119,971
Earnings attributable to noncontrolling interests
428	38	398	6	125	569	-223	-102	-9	367	-1,423	96
Discontinued operations
-	-	-	-	-	-	163	24	100	-11	-166	2,722
Net loss (income) attributable to noncontrolling interest
-	-	-	-	-	-	-60	-78	91	356	-1,589	2,818
Net earnings attributable to NNN
299,180	292,447	264,973	239,500	197,836	190,601	160,145	142,015	92,325	72,997	54,810	117,153
Total comprehensive income
-	-	-	-	-	-	-	-	-	-	52,907	-
Dividends
-	-	-	-	-	-	-	-	-	6,785	6,785	6,785
Excess of redemption value over carrying value of Series C preferred shares redeemed
-	-	-	-	-	-	-	3,098	0	0	-	-
Net earnings attributable to common stockholders
258,183	258,120	217,193	200,877	162,402	155,167	132,222	121,489	85,540	66,212	48,025	110,368
Net earnings per share of common stock:
Discontinued operations (in dollars per share)
-	-	-	-	-	-	0.05	0.09	0.08	0.09	0.02	0.26
Basic (in dollars per share)
1.56	1.65	1.45	1.39	1.21	1.24	1.11	1.13	0.96	0.80	0.60	1.48
Discontinued operations (in dollars per share)
-	-	-	-	-	-	0.05	0.09	0.09	0.09	0.02	0.26
Diluted (in dollars per share)
1.56	1.65	1.45	1.38	1.20	1.24	1.10	1.11	0.96	0.80	0.60	1.48
Basic (in dollars per share)
-	-	-	-	-	-	1.06	1.04	0.88	0.71	0.58	1.22
Diluted (in dollars per share)
-	-	-	-	-	-	1.05	1.02	0.87	0.71	0.58	1.22
Weighted average number of common shares outstanding:
Basic (in shares)
164,688	155,744	149,111	144,176	133,998	124,257	118,204	106,965	88,100	82,715	79,846	74,249
Diluted (in shares)
165,083	156,295	149,432	144,660	134,489	124,710	119,864	109,117	88,837	82,849	79,953	74,344
Other comprehensive income:
Other comprehensive income:
Net Income (Loss) Attributable to Parent
299,180	292,447	264,973	239,500	197,836	190,601	160,145	142,015	92,325	72,997	54,810	117,153
Amortization of interest rate hedges
-1,307	-3,664	-1,932	2,802	1,902	1,129	438	231	9	-165	-	-
Fair value of forward starting swaps
-5,524	4,080	-7,688	13,345	-13,369	-6,312	-3,141	0	-5,218	0	-	-
Net loss – commercial mortgage residual interests
-	-	-	-4,454	-339	1,038	-438	1,132	-	-	-	-
Realized gain – available-for-sale securities
116	298	209	468	112	-8	69	85	-246	1,272	-	-
Realized gain – available-for-sale securities
1,331	0	0	-	-	-	-	-	-	-	-	-
Valuation adjustments on available-for-sale securities
-	-	-	-	-	-	-	-	36	-17	-	-
Reclassification of noncontrolling interests
-	-	-	-	-	-	-949	0	0	-26	-	-
Comprehensive income attributable to NNN
293,748	300,489	259,426	251,661	186,142	186,448	158,022	143,463	86,834	74,147	-1,903	118,841
Other comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	1,688
Series D Preferred Stock [Member]
Dividends, Preferred Stock
0	0	3,598	19,047	-	-	-	-	-	-	-	-
Preferred Stock Redemption Premium
9,856	0	9,855	0	-	-	-	-	-	-	-	-
Series E Preferred Stock
Dividends
13,201	16,387	16,387	16,387	-	-	-	-	-	-	-	-
Series F Preferred Stock [Member]
Dividends
17,940	17,940	17,940	3,189	-	-	-	-	-	-	-	-