Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net (loss) income $ (2,462) $ 170,609
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 157,566 126,598
Impairments 69,929 13,231
Amortization of deferred financing costs 4,048 5,155
Amortization of debt discounts 3,504 5,805
Amortization of deferred losses on interest rate swaps 2,106 156
Termination of interest rate swaps   12,461
Payment for termination of interest rate swaps   (24,843)
Stock-based compensation expense 9,726 10,995
Loss on debt extinguishment 7,252 11,473
Gain on dispositions of real estate and other assets (11,809) (70,760)
Non-cash revenue (6,800) (13,581)
Bad debt expense and other 210 184
Changes in operating assets and liabilities:    
Deferred costs and other assets, net (19,414) 4,560
Accounts payable, accrued expenses and other liabilities (7,332) 7,310
Net cash provided by operating activities 206,524 259,353
Investing activities    
Acquisitions of real estate (433,354) (719,081)
Capitalized real estate expenditures (9,917) (32,902)
Proceeds from redemption of preferred equity investment   150,000
Collections from investment in Master Trust 2014   33,535
Collections of principal on loans receivable 31,771 9,303
Proceeds from dispositions of real estate and other assets, net 58,734 230,529
Net cash used in investing activities (352,766) (328,616)
Financing activities    
Borrowings under revolving credit facilities 1,123,000 744,700
Repayments under revolving credit facilities (1,239,500) (891,000)
Repayments under mortgages and notes payable (3,039) (198,645)
Borrowings under term loans 400,000 820,000
Repayments under term loans (222,000) (1,240,000)
Repayments under Convertible Notes (154,574) (402,500)
Borrowings under Senior Unsecured Notes 445,509 1,198,264
Debt extinguishment costs (4,057) (12,590)
Deferred financing costs (6,509) (20,230)
Proceeds from issuance of common stock, net of offering costs 117,331 538,003
Repurchase of shares of common stock, including tax withholdings related to net stock settlements (4,380) (2,540)
Common stock dividends paid (194,310) (164,191)
Preferred stock dividends paid (7,763) (7,763)
Net cash provided by financing activities 249,708 361,508
Net increase in cash, cash equivalents and restricted cash 103,466 292,245
Cash, cash equivalents and restricted cash, beginning of period 26,023 77,421
Cash, cash equivalents and restricted cash, end of period 129,489 369,666
Cash paid for interest 75,208 61,755
Cash paid for income taxes 967 1,121
Supplemental Disclosures of Non-Cash Activities:    
Dividends / Distributions declared and unpaid 66,178 62,322
Relief of debt through sale or foreclosure of real estate properties   10,368
Net real estate and other collateral assets sold or surrendered to lender   654
Cash flow hedge changes in fair value   18,593
Accrued interest capitalized to principal [1]   251
Accrued market-based award dividend rights 715 847
Accrued capitalized costs 1,383 2,065
Accrued deferred financing costs 138 2,048
Right-of-use lease assets   6,143
Lease liabilities   6,143
Reclass of residual value from direct financing lease to operating lease 6,831 5,841
Receivable for disposal of real estate property 2,000  
Spirit Realty, L.P.    
Operating activities    
Net (loss) income (2,462) 170,609
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 157,566 126,598
Impairments 69,929 13,231
Amortization of deferred financing costs 4,048 5,155
Amortization of debt discounts 3,504 5,805
Amortization of deferred losses on interest rate swaps 2,106 156
Termination of interest rate swaps   12,461
Payment for termination of interest rate swaps   (24,843)
Stock-based compensation expense 9,726 10,995
Loss on debt extinguishment 7,252 11,473
Gain on dispositions of real estate and other assets (11,809) (70,760)
Non-cash revenue (6,800) (13,581)
Bad debt expense and other 210 184
Changes in operating assets and liabilities:    
Deferred costs and other assets, net (19,414) 4,560
Accounts payable, accrued expenses and other liabilities (7,332) 7,310
Net cash provided by operating activities 206,524 259,353
Investing activities    
Acquisitions of real estate (433,354) (719,081)
Capitalized real estate expenditures (9,917) (32,902)
Proceeds from redemption of preferred equity investment   150,000
Collections from investment in Master Trust 2014   33,535
Collections of principal on loans receivable 31,771 9,303
Proceeds from dispositions of real estate and other assets, net 58,734 230,529
Net cash used in investing activities (352,766) (328,616)
Financing activities    
Borrowings under revolving credit facilities 1,123,000 744,700
Repayments under revolving credit facilities (1,239,500) (891,000)
Repayments under mortgages and notes payable (3,039) (198,645)
Borrowings under term loans 400,000 820,000
Repayments under term loans (222,000) (1,240,000)
Repayments under Convertible Notes (154,574) (402,500)
Borrowings under Senior Unsecured Notes 445,509 1,198,264
Debt extinguishment costs (4,057) (12,590)
Deferred financing costs (6,509) (20,230)
Proceeds from issuance of common stock, net of offering costs 117,331 538,003
Repurchase of shares of common stock, including tax withholdings related to net stock settlements (4,380) (2,540)
Common stock dividends paid (194,310) (164,191)
Preferred stock dividends paid (7,763) (7,763)
Net cash provided by financing activities 249,708 361,508
Net increase in cash, cash equivalents and restricted cash 103,466 292,245
Cash, cash equivalents and restricted cash, beginning of period 26,023 77,421
Cash, cash equivalents and restricted cash, end of period 129,489 369,666
Cash paid for interest 75,208 61,755
Cash paid for income taxes 967 1,121
Supplemental Disclosures of Non-Cash Activities:    
Dividends / Distributions declared and unpaid 66,178 62,322
Relief of debt through sale or foreclosure of real estate properties   10,368
Net real estate and other collateral assets sold or surrendered to lender   654
Cash flow hedge changes in fair value   18,593
Accrued interest capitalized to principal [1]   251
Accrued market-based award dividend rights 715 847
Accrued capitalized costs 1,383 2,065
Accrued deferred financing costs 138 2,048
Right-of-use lease assets   6,143
Lease liabilities   6,143
Reclass of residual value from direct financing lease to operating lease 6,831 $ 5,841
Receivable for disposal of real estate property $ 2,000  
[1] Accrued and overdue interest on certain CMBS notes that were intentionally placed in default.