See accompanying notes to consolidated financial statements.  45 Series C Preferred Stock Series D Preferred Stock Series E Preferred Stock Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Income Total Stockholders’ Equity Noncontrolling Interests Total Equity Balances at December 31, 2010 $ 92,000 $ — $ — $ 838 $1,429,750 $ 3,234 $ 1,661 $ 1,527,483 $ 1,291 $1,528,774 Net earnings — — — — — 92,325 — 92,325 91 92,416 Dividends declared and paid: $1.84375 per depositary share of Series C preferred stock — — — — — (6,785) — (6,785) — (6,785) $1.53 per share of common stock — — — 5 13,652 (133,720) — (120,063) — (120,063) Issuance of common stock: 17,288,265 shares — — — 173 447,690 — — 447,863 — 447,863 3,197,127 shares – stock purchase program — — — 32 79,762 — — 79,794 — 79,794 Issuance of 133,432 shares of restricted common stock — — — 1 (57) — — (56) — (56) Stock issuance costs — — — — (19,453) — — (19,453) — (19,453) Performance incentive plan — — — — (513) — — (513) — (513) Amortization of deferred compensation — — — — 7,394 — — 7,394 — 7,394 Interest rate hedge termination Amortization of interest rate hedges — — — — — — 9 9 — 9 Fair value treasury locks — — — — — — (5,218) (5,218) — (5,218) Unrealized loss – commercial mortgage residual interests — — — — — — (246) (246) — (246) Stock value adjustment — — — — — — (36) (36) — (36) Contributions from noncontrolling interests — — — — — — — — 41 41 Distributions to noncontrolling interests — — — — — — — — (45) (45) Balances at December 31, 2011 $ 92,000 $ — $ — $ 1,049 $1,958,225 $ (44,946) $ (3,830) $ 2,002,498 $ 1,378 $2,003,876 NATIONAL RETAIL PROPERTIES, INC. and SUBSIDIARIES CONSOLIDATED STATEMENTS OF EQUITY Years Ended December 31, 2013, 2012 and 2011 (dollars in thousands, except per share data)