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Consolidated Statements of Comprehensive Income (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:      
Rental income from operating leases $ 371,948,000 $ 311,753,000 $ 239,758,000
Earned income from direct financing leases 1,955,000 2,119,000 2,367,000
Percentage rent 1,557,000 1,165,000 1,093,000
Real estate expense reimbursement from tenants 13,110,000 11,587,000 10,080,000
Interest and other income from real estate transactions 1,467,000 2,239,000 2,287,000
Interest income on commercial mortgage residual interests 2,290,000 2,673,000 3,105,000
Total revenues 392,327,000 331,536,000 258,690,000
Retail operations:      
Revenues 0 19,008,000 45,139,000
Operating expenses 0 (18,542,000) (43,088,000)
Net 0 466,000 2,051,000
Operating expenses:      
General and administrative 32,576,000 32,187,000 28,796,000
Real estate 18,100,000 17,041,000 16,997,000
Depreciation and amortization 99,246,000 73,707,000 56,466,000
Impairment – commercial mortgage residual interests valuation 1,185,000 2,812,000 1,024,000
Impairment losses and other charges, net of recoveries 1,972,000 3,088,000 (1,349,000)
Total operating expenses 153,079,000 128,835,000 101,934,000
Earnings from operations 239,248,000 203,167,000 158,807,000
Other expenses (revenues):      
Interest and other income (1,493,000) (2,232,000) (1,593,000)
Interest expense 85,283,000 83,192,000 75,532,000
Total other expenses (revenues) 83,790,000 80,960,000 73,939,000
Earnings from continuing operations before gain on disposition of real estate, income tax benefit (expense) and equity in earnings of unconsolidated affiliate 155,458,000 122,207,000 84,868,000
Gain on disposition of real estate 173,000 0 297,000
Income tax benefit (expense) (618,000) 6,947,000 (899,000)
Equity in earnings of unconsolidated affiliate 0 4,074,000 474,000
Earnings from continuing operations 155,013,000 133,228,000 84,740,000
Earnings from discontinued operations, net of income tax expense 5,072,000 8,709,000 7,676,000
Earnings including noncontrolling interests 160,085,000 141,937,000 92,416,000
Loss (earnings) attributable to noncontrolling interests:      
Continuing operations 286,000 107,000 9,000
Discontinued operations (226,000) (29,000) (100,000)
Net loss (income) attributable to noncontrolling interest 60,000 78,000 (91,000)
Net earnings attributable to NNN 160,145,000 142,015,000 92,325,000
Excess of redemption value over carrying value of Series C preferred shares redeemed 0 (3,098,000) 0
Net earnings attributable to common stockholders 132,222,000 121,489,000 85,540,000
Basic:      
Continuing operations (in dollars per share) $ 1.07 $ 1.05 $ 0.88
Discontinued operations (in dollars per share) $ 0.04 $ 0.08 $ 0.08
Net earnings (in dollars per share) $ 1.11 $ 1.13 $ 0.96
Diluted:      
Continuing operations (in dollars per share) $ 1.06 $ 1.03 $ 0.87
Discontinued operations (in dollars per share) $ 0.04 $ 0.08 $ 0.09
Net earnings (in dollars per share) $ 1.10 $ 1.11 $ 0.96
Weighted average number of common shares outstanding:      
Basic (in shares) 118,204,148 106,965,156 88,100,076
Diluted (in shares) 119,864,824 109,117,515 88,837,057
Other comprehensive income:      
Net earnings attributable to NNN 160,145,000 142,015,000 92,325,000
Amortization of interest rate hedges 438,000 231,000 9,000
Fair value treasury locks (3,141,000) 0 (5,218,000)
Unrealized gains (losses) – commercial mortgage residual interests (438,000) 1,132,000 (246,000)
Stock value adjustments 69,000 85,000 (36,000)
Noncontrolling interests 949,000 0 0
Comprehensive income attributable to NNN 158,022,000 143,463,000 86,834,000
Series C Depositary Share
     
Loss (earnings) attributable to noncontrolling interests:      
Preferred stock dividends 0 [1] (1,979,000) [1] (6,785,000) [1]
Series D Depositary Share
     
Loss (earnings) attributable to noncontrolling interests:      
Preferred stock dividends (19,047,000) [2] (15,449,000) [2] 0 [2]
Series E Depositary Share
     
Loss (earnings) attributable to noncontrolling interests:      
Preferred stock dividends $ (8,876,000) [3] $ 0 [3] $ 0 [3]
[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.
[3] The Series E Preferred Stock dividends paid during the quarter ended September 30, 2013 include accumulated and unpaid dividends from the issuance date through the declaration date.