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Organization And Summary Of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2013
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”). 
 
June 30, 2013
Property Portfolio:
 
Total properties
1,838

Gross leasable area (square feet)
20,218,000

States
47
Intangible Assets and Liabilities
Intangible assets and liabilities consisted of the following as of (in thousands):
 
 
June 30, 2013
 
December 31, 2012
Intangible lease assets (included in Other assets):
 
 
 
 
Value of above market in-place leases, net
 
$
13,344

 
$
6,679

Value of in-place leases, net
 
62,620

 
37,889

Intangible lease liabilities (included in Other liabilities):
 
 
 
 
Value of below market in-place leases, net
 
31,616

 
23,708
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 June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Basic and Diluted Earnings:
 
 
 
 
 
 
 
Net earnings attributable to NNN
$
37,486

 
$
33,505

 
$
71,552

 
$
63,337

Less: Series C preferred stock dividends
—

 
—

 
—

 
(1,979
)
Less: Series D preferred stock dividends
(4,762
)
 
(5,926
)
 
(9,523
)
 
(5,926
)
Less: Excess of redemption value over carrying value of Series C preferred shares redeemed
—

 
—

 
—

 
(3,098
)
Net earnings available to NNN’s common stockholders
32,724

 
27,579

 
62,029

 
52,334

Less: Earnings attributable to unvested restricted shares
(130
)
 
(180
)
 
(231
)
 
(312
)
Net earnings used in basic earnings per share
32,594

 
27,399

 
61,798

 
52,022

Reallocated undistributed loss
—

 
—

 
—

 
—

Net earnings used in diluted earnings per share
$
32,594

 
$
27,399

 
$
61,798

 
$
52,022

 
 
 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
Weighted average number of shares outstanding
118,620,837

 
107,006,399

 
116,386,249

 
106,321,014

Less: Unvested restricted stock
(469,370
)
 
(696,804
)
 
(427,465
)
 
(631,329
)
Less: Contingent shares
(338,816
)
 
(317,581
)
 
(294,889
)
 
(272,090
)
Weighted average number of shares outstanding used in basic
   earnings per share
117,812,651

 
105,992,014

 
115,663,895

 
105,417,595

Effects of dilutive securities:
 
 
 
 
 
 
 
Contingent shares
—

 
—

 
—

 
12,735

Convertible notes payable
2,882,355

 
1,310,445

 
2,570,706

 
1,259,319

Common stock options
—

 
1,419

 
—

 
1,855

Directors’ deferred fee plan
170,519

 
155,115

 
169,088

 
152,576

Weighted average number of shares outstanding used in
  diluted earnings per share
120,865,525

 
107,458,993

 
118,403,689

 
106,844,080
Schedule of AOCI
The following table outlines the changes in accumulated other comprehensive income (dollars in thousands):
 
Gain or Loss on Cash Flow Hedges (1)
 
Unrealized Gains and Losses on Commercial Mortgage Residual Interests (2)
 
Unrealized Gains and Losses on Available-for-Sale Securities
 
Total
 
Beginning balance, December 31, 2012
$
(5,693
)
 
$
3,244

 
$
67

 
$
(2,382
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
(3,141
)
 
2,168

 
89

 
(884
)
 
Reclassifications from accumulated other comprehensive income to net earnings
178

 
—

 
—

 
178

(3) 
Net current period other comprehensive income (loss)
(2,963
)
 
2,168

 
89

 
(706
)
 
 
 
 
 
 
 
 
 
 
Ending balance, June 30, 2013
$
(8,656
)
 
$
5,412

 
$
156

 
$
(3,088
)
 
1) Additional disclosure is included in Note 12 - Derivatives.
2) Additional disclosure is included in Note 6 - Commercial Mortgage Residual Interests.
3) Reclassifications out of other comprehensive income are recorded in Interest Expense on the Condensed Consolidated Statements of Comprehensive Income. There is no income tax expense (benefit) resulting from this reclassification.