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v3.21.2

Notes Payable (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Mar. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) Instrument | Sep. 30, 2020 USD ($) | Sep. 30, 2021 USD ($) Instrument | Sep. 30, 2020 USD ($) | Mar. 31, 2020 USD ($) Instrument | Sep. 30, 2018 USD ($) Instrument | Sep. 30, 2017 USD ($) Instrument | Dec. 31, 2016 USD ($) Instrument | Oct. 31, 2015 USD ($) Instrument | May 31, 2014 USD ($) Instrument
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Loss deferred in other comprehensive income |  |  | $ (1,584,000) |  | $ (1,584,000) | $ (7,617,000) |  |  |  |  |  |
Proceeds from notes payable |  |  |  |  | 881,172,000 | 692,646,000 |  |  |  |  |  |
Payment of debt issuance costs |  |  |  |  | 17,125,000 | 7,810,000 |  |  |  |  |  |
Make-whole premium |  |  |  |  | $ 21,328,000 | $ 16,679,000 |  |  |  |  |  |
Forward Swap |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Number of interest rate derivatives terminated | Instrument |  |  | 2 |  | 2 |  | 3 | 2 | 2 | 2 | 4 | 3
Aggregate notional amount |  |  | $ 120,000,000 |  | $ 120,000,000 |  | $ 200,000,000 | $ 250,000,000 | $ 250,000,000 | $ 180,000,000 | $ 300,000,000 | $ 225,000,000
Loans Payable |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Debt costs |  |  | 10,144,000 |  | 10,144,000 |  |  |  |  |  |  |
2051 Notes | Loans Payable |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Principal amount |  | $ 450,000,000 | $ 450,000,000 |  | $ 450,000,000 |  |  |  |  |  |  |
Stated interest rate |  | 3.50% | 3.50% |  | 3.50% |  |  |  |  |  |  |
Aggregate purchase price |  | $ 441,594,000 |  |  |  |  |  |  |  |  |  |
Discount | [1] | $ 8,406,000 |  |  |  |  |  |  |  |  |  |
Effective Rate | [2] | 3.602% |  |  |  |  |  |  |  |  |  |
2052 Notes | Loans Payable |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Principal amount | [3] |  | $ 450,000,000 |  | $ 450,000,000 |  |  |  |  |  |  |
Stated interest rate | [3] |  | 3.00% |  | 3.00% |  |  |  |  |  |  |
Aggregate purchase price | [3] |  | $ 439,578,000 |  | $ 439,578,000 |  |  |  |  |  |  |
Discount | [1],[3] |  | $ 10,422,000 |  | $ 10,422,000 |  |  |  |  |  |  |
Effective Rate | [2],[3] |  | 3.118% |  | 3.118% |  |  |  |  |  |  |
2023 Notes | Loans Payable |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Stated interest rate |  | 3.30% |  |  |  |  |  |  |  |  |  |
Notes payable redeemed |  | $ 350,000,000 |  |  |  |  |  |  |  |  |  |
Redemption price, percent of principal amount |  | 100.00% |  |  |  |  |  |  |  |  |  |
Make-whole premium |  | $ (21,328,000) |  |  |  |  |  |  |  |  |  |
[1] | The note discounts are amortized to interest expense over the respective term of each debt obligation using the effective interest method.
[2] | Includes the effects of the discount at issuance.
[3] | NNN entered into forward swaps which were hedging the risk of changes in forecasted interest payments on forecasted issuance of long-term debt. Upon the issuance of the 2052 Notes, NNN terminated such derivatives, and the resulting fair value was deferred in accumulated other comprehensive income (loss) and is being amortized over the term of the respective notes using the effective interest method. Additional disclosure is included in Note 6 – Derivatives

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