Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net income $ 170,609 $ 77,938
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 126,598 156,476
Impairments 13,231 17,197
Amortization of deferred financing costs 5,155 7,442
Amortization of debt discounts 5,805 10,888
Amortization of deferred losses on interest rate swaps 156  
Loss on termination of interest rate swaps 12,461  
Payment for termination of interest rate swaps (24,843)  
Stock-based compensation expense 10,995 12,189
Loss (gain) on debt extinguishment 11,473 (26,729)
Gain on dispositions of real estate and other assets (70,760) (553)
Non-cash revenue (13,581) (14,239)
Bad debt expense and other 184 1,596
Changes in operating assets and liabilities:    
Deferred costs and other assets, net 4,560 (5,681)
Accounts payable, accrued expenses and other liabilities 7,310 (2,712)
Net cash provided by operating activities 259,353 233,812
Investing activities    
Acquisitions of real estate (719,081) (242,491)
Capitalized real estate expenditures (32,902) (26,769)
Investments in loans receivable 0 (35,450)
Proceeds from redemption of preferred equity investment 150,000  
Collections from investment in Master Trust 2014 33,535  
Collections of principal on loans receivable and real estate assets under direct financing leases 9,303 25,858
Proceeds from dispositions of real estate and other assets, net 230,529 41,461
Net cash used in investing activities (328,616) (237,391)
Financing activities    
Borrowings under revolving credit facilities 744,700 737,800
Repayments under revolving credit facilities (891,000) (692,800)
Borrowings under mortgages and notes payable 0 104,247
Repayments under mortgages and notes payable (198,645) (167,671)
Borrowings under term loans 820,000 420,000
Repayments under term loans (1,240,000) 0
Repayments under Convertible Notes (402,500) 0
Borrowings under Senior Unsecured Notes 1,198,264 0
Debt extinguishment costs (12,590) (2,968)
Deferred financing costs (20,230) (1,417)
Cash, cash equivalents and restricted cash held by SMTA at Spin-Off 0 (73,081)
Sale of SubREIT preferred shares   5,000
Proceeds from issuance of common stock, net of offering costs 538,003 0
Repurchase of shares of common stock, including tax withholdings related to net stock settlements (2,540) (170,512)
Common stock dividends paid (164,191) (236,663)
Preferred stock dividends paid (7,763) (7,764)
Net cash provided by (used in) financing activities 361,508 (85,829)
Net increase (decrease) in cash, cash equivalents and restricted cash 292,245 (89,408)
Cash, cash equivalents and restricted cash, beginning of period 77,421 114,707
Cash, cash equivalents and restricted cash, end of period 369,666 25,299
Cash paid for interest 61,755 94,050
Cash paid for income taxes 1,121 1,133
Supplemental Disclosures of Non-Cash Activities:    
Distributions declared and unpaid 62,322 54,217
Relief of debt through sale or foreclosure of real estate properties 10,368 56,119
Net real estate and other collateral assets sold or surrendered to lender 654 28,271
Cash flow hedge changes in fair value 18,593 0
Accrued interest capitalized to principal [1] 251 1,719
Accrued market-based award dividend rights 847 811
Accrued capitalized costs 2,065 0
Accrued deferred financing costs 2,048  
Financing provided in connection with disposition of assets 0 2,888
Right-of-use lease assets 6,143 0
Lease liabilities 6,143 0
Reclass of residual value from direct financing lease to operating lease 5,841  
Investment in preferred shares 0 150,000
Non-cash distribution to SMTA, net 0 142,924
Spirit Realty, L.P.    
Operating activities    
Net income 170,609 77,938
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 126,598 156,476
Impairments 13,231 17,197
Amortization of deferred financing costs 5,155 7,442
Amortization of debt discounts 5,805 10,888
Amortization of deferred losses on interest rate swaps 156  
Loss on termination of interest rate swaps 12,461  
Payment for termination of interest rate swaps (24,843)  
Stock-based compensation expense 10,995 12,189
Loss (gain) on debt extinguishment 11,473 (26,729)
Gain on dispositions of real estate and other assets (70,760) (553)
Non-cash revenue (13,581) (14,239)
Bad debt expense and other 184 1,596
Changes in operating assets and liabilities:    
Deferred costs and other assets, net 4,560 (5,681)
Accounts payable, accrued expenses and other liabilities 7,310 (2,712)
Net cash provided by operating activities 259,353 233,812
Investing activities    
Acquisitions of real estate (719,081) (242,491)
Capitalized real estate expenditures (32,902) (26,769)
Investments in loans receivable 0 (35,450)
Proceeds from redemption of preferred equity investment 150,000  
Collections from investment in Master Trust 2014 33,535  
Collections of principal on loans receivable and real estate assets under direct financing leases 9,303 25,858
Proceeds from dispositions of real estate and other assets, net 230,529 41,461
Net cash used in investing activities (328,616) (237,391)
Financing activities    
Borrowings under revolving credit facilities 744,700 737,800
Repayments under revolving credit facilities (891,000) (692,800)
Borrowings under mortgages and notes payable 0 104,247
Repayments under mortgages and notes payable (198,645) (167,671)
Borrowings under term loans 820,000 420,000
Repayments under term loans (1,240,000) 0
Repayments under Convertible Notes (402,500) 0
Borrowings under Senior Unsecured Notes 1,198,264 0
Debt extinguishment costs (12,590) (2,968)
Deferred financing costs (20,230) (1,417)
Cash, cash equivalents and restricted cash held by SMTA at Spin-Off 0 (73,081)
Sale of SubREIT preferred shares   5,000
Proceeds from issuance of common stock, net of offering costs 538,003 0
Repurchase of shares of common stock, including tax withholdings related to net stock settlements (2,540) (170,512)
Common stock dividends paid (164,191) (236,663)
Preferred stock dividends paid (7,763) (7,764)
Net cash provided by (used in) financing activities 361,508 (85,829)
Net increase (decrease) in cash, cash equivalents and restricted cash 292,245 (89,408)
Cash, cash equivalents and restricted cash, beginning of period 77,421 114,707
Cash, cash equivalents and restricted cash, end of period 369,666 25,299
Cash paid for interest 61,755 94,050
Cash paid for income taxes 1,121 1,133
Supplemental Disclosures of Non-Cash Activities:    
Distributions declared and unpaid 62,322 54,217
Relief of debt through sale or foreclosure of real estate properties 10,368 56,119
Net real estate and other collateral assets sold or surrendered to lender 654 28,271
Cash flow hedge changes in fair value 18,593 0
Accrued interest capitalized to principal [1] 251 1,719
Accrued market-based award dividend rights 847 811
Accrued capitalized costs 2,065 0
Accrued deferred financing costs 2,048  
Financing provided in connection with disposition of assets 0 2,888
Right-of-use lease assets 6,143 0
Lease liabilities 6,143 0
Reclass of residual value from direct financing lease to operating lease 5,841  
Investment in preferred shares 0 150,000
Non-cash distribution to SMTA, net $ 0 $ 142,924
[1] Accrued and overdue interest on certain CMBS notes that were intentionally placed in default.