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Organization And Summary Of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 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”). 
 
September 30, 2013
Property Portfolio:
 
Total properties
1,850

Gross leasable area (square feet)
20,292,000

States
47
Intangible Assets and Liabilities
Intangible assets and liabilities consisted of the following as of (in thousands):
 
 
September 30, 2013
 
December 31, 2012
Intangible lease assets (included in Other assets):
 
 
 
 
Value of above market in-place leases, net
 
$
12,236

 
$
6,679

Value of in-place leases, net
 
59,365

 
37,889

Intangible lease liabilities (included in Other liabilities):
 
 
 
 
Value of below market in-place leases, net
 
29,678

 
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 September 30,
 
Nine Months Ended September 30,
 
2013
 
2012
 
2013
 
2012
Basic and Diluted Earnings:
 
 
 
 
 
 
 
Net earnings attributable to NNN
$
44,352

 
$
38,015

 
$
115,904

 
$
101,353

Less: Series C preferred stock dividends
—

 
—

 
—

 
(1,979
)
Less: Series D preferred stock dividends
(4,762
)
 
(4,762
)
 
(14,285
)
 
(10,688
)
Less: Series E preferred stock dividends
(4,780
)
 
—

 
(4,780
)
 
—

Less: Excess of redemption value over carrying value of Series C preferred shares redeemed
—

 
—

 
—

 
(3,098
)
Net earnings available to NNN’s common stockholders
34,810

 
33,253

 
96,839

 
85,588

Less: Earnings attributable to unvested restricted shares
(135
)
 
(215
)
 
(366
)
 
(525
)
Net earnings used in basic earnings per share
34,675

 
33,038

 
96,473

 
85,063

Reallocated undistributed loss
—

 
(1
)
 
(3
)
 
(4
)
Net earnings used in diluted earnings per share
$
34,675

 
$
33,037

 
$
96,470

 
$
85,059

 
 
 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
Weighted average number of shares outstanding
121,096,076

 
108,461,120

 
117,973,443

 
107,039,590

Less: Unvested restricted stock
(469,370
)
 
(696,270
)
 
(441,588
)
 
(652,890
)
Less: Contingent shares
(338,816
)
 
(276,915
)
 
(309,692
)
 
(246,698
)
Weighted average number of shares outstanding used in basic
   earnings per share
120,287,890

 
107,487,935

 
117,222,163

 
106,140,002

Effects of dilutive securities:
 
 
 
 
 
 
 
Contingent shares
—

 
—

 
—

 
8,459

Convertible notes payable
768,843

 
2,692,153

 
1,963,457

 
1,787,275

Common stock options
—

 
—

 
—

 
1,287

Directors’ deferred fee plan
173,499

 
159,617

 
170,574

 
154,886

Weighted average number of shares outstanding used in
  diluted earnings per share
121,230,232

 
110,339,705

 
119,356,194

 
108,091,909
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
)
 
2,544

 
125

 
(472
)
 
Reclassifications from accumulated other comprehensive income to net earnings
306

 
—

 
—

 
306

(3) 
Net current period other comprehensive income (loss)
(2,835
)
 
2,544

 
125

 
(166
)
 
Ending balance, September 30, 2013
$
(8,528
)
 
$
5,788

 
$
192

 
$
(2,548
)
 
1) Additional disclosure is included in Note 10 - Derivatives.
2) Additional disclosure is included in Note 3 - 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.