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Condensed Consolidated Statements Of Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Rental income from operating leases $ 80,411 $ 62,158 $ 230,415 $ 175,463
Earned income from direct financing leases 608 639 1,854 2,072
Percentage rent 242 229 574 476
Real estate expense reimbursement from tenants 2,647 2,437 7,967 6,859
Interest and other income from real estate transactions 512 381 1,982 1,534
Interest income on commercial mortgage residual interests 593 782 2,064 2,325
Total revenues 85,013 66,626 244,856 188,729
Retail operations:        
Revenues 0 12,402 19,008 33,702
Operating expenses 0 (11,563) (18,543) (32,175)
Net 0 839 465 1,527
Operating expenses:        
General and administrative 8,652 7,036 23,278 20,261
Real estate 3,878 4,434 12,437 11,983
Depreciation and amortization 17,465 14,777 54,253 41,707
Impairment - commercial mortgage residual interests valuation 0 0 2,718 396
Impairment losses and other charges 7,261 0 7,296 0
Total operating expenses 37,256 26,247 99,982 74,347
Earnings from operations 47,757 41,218 145,339 115,909
Other expenses (revenues):        
Interest and other income (1,194) (457) (1,913) (1,083)
Interest expense 22,866 20,086 61,905 55,260
Total other expenses (revenues) 21,672 19,629 59,992 54,177
Earnings from continuing operations before income tax benefit (expense) and equity in earnings of unconsolidated affiliate 26,085 21,589 85,347 61,732
Income tax benefit (expense) 7,426 (68) 7,190 (258)
Equity in earnings of unconsolidated affiliate 3,769 109 4,074 321
Earnings from continuing operations 37,280 21,630 96,611 61,795
Earnings from discontinued operations, net of income tax expense (Note 9) 710 978 4,679 2,936
Earnings including noncontrolling interests 37,990 22,608 101,290 64,731
Loss (earnings) attributable to noncontrolling interests:        
Continuing operations 32 20 87 113
Discontinued operations (7) 4 (24) (89)
Net loss (income) attributable to noncontrolling interest 25 24 63 24
Net earnings attributable to NNN 38,015 22,632 101,353 64,755
Excess of redemption value over carrying value of preferred shares redeemed 0 0 (3,098) 0
Net earnings attributable to common stockholders 33,253 20,936 85,588 59,666
Basic:        
Continuing operations (in dollars per share) $ 0.30 $ 0.23 $ 0.76 $ 0.67
Discontinued operations (in dollars per share) $ 0.01 $ 0.01 $ 0.04 $ 0.03
Net earnings (in dollars per share) $ 0.31 $ 0.24 $ 0.80 $ 0.70
Diluted:        
Continuing operations (in dollars per share) $ 0.29 $ 0.23 $ 0.75 $ 0.66
Discontinued operations (in dollars per share) $ 0.01 $ 0.01 $ 0.04 $ 0.03
Net earnings (in dollars per share) $ 0.30 $ 0.24 $ 0.79 $ 0.69
Weighted average number of common shares outstanding:        
Basic (in shares) 107,487,935 87,109,406 106,140,002 84,896,946
Diluted (in shares) 110,339,705 87,788,250 108,091,909 85,438,870
Other comprehensive income        
Net earnings attributable to NNN 38,015 22,632 101,353 64,755
Amortization of interest rate hedges 57 38 171 (47)
Fair value treasury locks 0 0 0 (5,218)
Unrealized gains - commerical mortgage residual interests 0 0 213 599
Stock value adjustments (1) (8) (2) (34)
Comprehensive income attributable to NNN 38,071 22,662 101,735 60,055
Series C Depositary Share [Member]
       
Loss (earnings) attributable to noncontrolling interests:        
Series C preferred stock dividends and Series D preferred stock dividends 0 (1,696) (1,979) [1] (5,089) [1]
Series D Depositary Share [Member]
       
Loss (earnings) attributable to noncontrolling interests:        
Series C preferred stock dividends and Series D preferred stock dividends $ (4,762) $ 0 $ (10,688) [2] $ 0 [2]
[1] The Series C preferred stock was redeemed in March 2012. The dividends paid during the quarter ended March 31, 2012 include accumulated and unpaid dividends through the redemption date.
[2] The Series D preferred stock dividends paid during the quarter ended June 30, 2012 include accumulated and unpaid dividends from the issuance date through the declaration date. The Series D preferred stock has no maturity date and will remain outstanding unless redeemed.