FFO is generally considered by industry analysts to be an appropriate measure of operating performance of real estate  companies. FFO does not necessarily represent cash provided by operating activities in accordance with GAAP and should not  be considered an alternative to net income as an indication of NNN’s operating performance or to cash flow as a measure of  liquidity or ability to make distributions. Management considers FFO an appropriate measure of operating performance of an  equity REIT because it primarily excludes the assumption that the value of the real estate assets diminishes predictably over time, and because industry analysts have accepted it as an operating performance measure. NNN’s  computation of FFO may differ from the methodology for calculating FFO used by other equity REITs, and therefore, may not  be comparable to such other REITs. All revenue generating property dispositions and revenue generating properties held for sale at December 31, 2013 from  NNN’s Property Portfolio are classified as discontinued operations. These properties have not historically been classified as  discontinued operations, therefore, prior period comparable consolidated financial statements have been restated to include  these properties in earnings from discontinued operations. These adjustments resulted in a decrease in NNN’s reported total  revenues and total and per share earnings from continuing operations and an increase in NNN’s earnings from discontinued  operations. However, NNN’s total and per share net earnings available to common stockholders is not affected. The following table reconciles FFO to the most directly comparable GAAP measure, net earnings for the years ended  December 31: For a discussion of material events affecting the comparability of the information reflected in the selected financial data, refer  to “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.” 2013 2012 2011 2010 2009 Reconciliation of funds from operations: Net earnings attributable to NNN’s stockholders $ 160,145 $ 142,015 $ 92,325 $ 72,997 $ 54,810 Series C preferred stock dividends — (1,979) (6,785) (6,785) (6,785) Series D preferred stock dividends (19,047) (15,449) — — — Series E preferred stock dividends (8,876) — — — — Excess of redemption value over carrying value of Series C preferred shares redeemed — (3,098) — — — Net earnings available to common stockholders 132,222 121,489 85,540 66,212 48,025 Real estate depreciation and amortization: Continuing operations 99,020 73,586 52,179 41,595 40,901 Discontinued operations 371 1,480 1,957 2,214 3,699 Joint venture real estate depreciation — 112 176 178 178 Joint venture gain on disposition of real estate — (2,341) — — — Gain on disposition of real estate, net of tax and noncontrolling interest (5,442) (10,956) (449) (1,574) (2,764) Impairment losses – real estate 3,347 10,312 431 — — FFO available to common stockholders $ 229,518 $ 193,682 $ 139,834 $ 108,625 $ 90,039  19