Organization And Summary Of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2012

Accounting Policies [Abstract]

Summary Of NNN's Investment Portfolio

NNN's assets include: real estate, mortgages and notes receivable, and commercial mortgage residual interests. NNN acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and primarily held for investment (“Properties” or “Property Portfolio”).

	September 30, 2012
Property Portfolio:
Total properties	1,530
Gross leasable area (square feet)	18,331,000
States	47

Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of (in thousands):

	September 30, 2012		December 31, 2011
Intangible lease assets (included in Other assets):
Value of above market in-place leases, net	$	6,910	$	5,907
Value of in-place leases, net	38,525		31,970
Intangible lease liabilities (included in Other liabilities):
Value of below market in-place leases, net	24,515		23,367

Computation Of Basic And Diluted Earnings Per Share

The following table is a reconciliation of the numerator and denominator used in the computation of basic and diluted earnings per common share using the two-class method (dollars in thousands):

	Quarter Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Basic and Diluted Earnings:
Net earnings attributable to NNN	$	38,015		$	22,632		$	101,353		$	64,755
Less: Series C preferred stock dividends	—			(1,696		)	(1,979		)	(5,089		)
Less: Series D preferred stock dividends	(4,762		)	—			(10,688		)	—
Less: Excess of redemption value over carrying value of preferred shares redeemed	—			—			(3,098		)	—
Net earnings available to NNN’s common stockholders	33,253			20,936			85,588			59,666
Less: Earnings attributable to unvested restricted shares	(215		)	(160		)	(525		)	(442		)
Net earnings used in basic earnings per share	33,038			20,776			85,063			59,224
Reallocated undistributed loss	(1		)	(1		)	(4		)	(2		)
Net earnings used in diluted earnings per share	$	33,037		$	20,775		$	85,059		$	59,222
Basic and Diluted Weighted Average Shares Outstanding:
Weighted average number of shares outstanding	108,461,120			88,008,849			107,039,590			85,772,590
Less: Unvested restricted stock	(696,270		)	(647,617		)	(652,890		)	(623,818		)
Less: Contingent shares	(276,915		)	(251,826		)	(246,698		)	(251,826		)
Weighted average number of shares outstanding used in basic    earnings per share	107,487,935			87,109,406			106,140,002			84,896,946
Effects of dilutive securities:
Contingent shares	—			—			8,459			—
Convertible notes payable	2,692,153			516,775			1,787,275			385,942
Common stock options	—			2,669			1,287			3,093
Directors’ deferred fee plan	159,617			159,400			154,886			152,889
Weighted average number of shares outstanding used in diluted    earnings per share	110,339,705			87,788,250			108,091,909			85,438,870