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Condensed Consolidated Statements Of Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:        
Rental income from operating leases $ 91,295 $ 76,525 $ 178,869 $ 148,772
Earned income from direct financing leases 556 594 1,122 1,198
Percentage rent 162 221 533 332
Real estate expense reimbursement from tenants 3,149 2,556 6,126 5,366
Interest and other income from real estate transactions 371 594 754 1,300
Interest income on commercial mortgage residual interests 588 716 1,195 1,471
Total revenues 96,121 81,206 188,599 158,439
Retail operations:        
Revenues 0 7,784 0 19,008
Operating expenses 0 (7,480) 0 (18,542)
Net 0 304 0 466
Operating expenses:        
General and administrative 9,412 7,025 17,676 14,630
Real estate 4,301 4,040 8,218 8,549
Depreciation and amortization 22,552 18,678 46,270 36,388
Impairment losses and other charges, net of recoveries 160 2,548 1,972 2,583
Total operating expenses 36,425 32,291 74,136 62,150
Earnings from operations 59,696 49,219 114,463 96,755
Other expenses (revenues):        
Interest and other income (377) (361) (711) (720)
Interest expense 23,394 19,569 45,221 39,387
Total other expenses (revenues) 23,017 19,208 44,510 38,667
Earnings from continuing operations before income tax expense and equity in earnings of unconsolidated affiliate 36,679 30,011 69,953 58,088
Income tax benefit (expense) (432) (156) 2 (271)
Equity in earnings of unconsolidated affiliate 0 155 0 305
Earnings from continuing operations 36,247 30,010 69,955 58,122
Earnings from discontinued operations, net of income tax expense 1,359 3,466 1,554 5,177
Earnings including noncontrolling interests 37,606 33,476 71,509 63,299
Loss (earnings) attributable to noncontrolling interests:        
Continuing operations 40 32 259 46
Discontinued operations (160) (3) (216) (8)
Net loss (income) attributable to noncontrolling interest (120) 29 43 38
Net earnings attributable to NNN 37,486 33,505 71,552 63,337
Excess of redemption value over carrying value of Series C preferred shares redeemed 0 0 0 (3,098)
Net earnings attributable to common stockholders 32,724 27,579 62,029 52,334
Basic:        
Continuing operations (in dollars per share) $ 0.27 $ 0.23 $ 0.52 $ 0.44
Discontinued operations (in dollars per share) $ 0.01 $ 0.03 $ 0.01 $ 0.05
Net earnings (in dollars per share) $ 0.28 $ 0.26 $ 0.53 $ 0.49
Diluted:        
Continuing operations (in dollars per share) $ 0.26 $ 0.23 $ 0.51 $ 0.44
Discontinued operations (in dollars per share) $ 0.01 $ 0.03 $ 0.01 $ 0.05
Net earnings (in dollars per share) $ 0.27 $ 0.26 $ 0.52 $ 0.49
Weighted average number of common shares outstanding:        
Basic (in shares) 117,812,651 105,992,014 115,663,895 105,417,595
Diluted (in shares) 120,865,525 107,458,993 118,403,689 106,844,080
Other comprehensive income:        
Net earnings attributable to NNN 37,486 33,505 71,552 63,337
Amortization of interest rate hedges 118 58 178 114
Fair value forward starting swaps (1,997) 0 (3,141) 0
Unrealized gain – commercial mortgage residual interests 350 213 1,219 213
Stock value adjustments 8 0 89 (1)
Reclassification of noncontrolling interests 0 0 949 0
Comprehensive income attributable to NNN 35,965 33,776 70,846 63,663
Series C Depositary Share [Member]
       
Loss (earnings) attributable to noncontrolling interests:        
Series C preferred stock dividends and Series D preferred stock dividends 0 0 0 [1] (1,979) [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) $ (5,926) $ (9,523) [2] $ (5,926) [2]
[1] The Series C preferred stock was redeemed in March 2012. The dividends paid during the six months ended June 30, 2012 include accumulated and unpaid dividends through the redemption date.
[2] The Series D preferred stock has no maturity date and will remain outstanding unless redeemed.