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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, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Rental income from operating leases $ 100,730 $ 91,491 $ 199,786 $ 179,088
Earned income from direct financing leases 435 499 879 1,006
Percentage rent 223 162 312 533
Real estate expense reimbursement from tenants 3,228 3,184 6,460 6,181
Interest and other income from real estate transactions 543 371 1,334 756
Interest income on commercial mortgage residual interests 454 588 906 1,195
Total revenues 105,613 96,295 209,677 188,759
Operating expenses:        
General and administrative 8,074 9,412 16,989 17,677
Real estate 4,746 4,363 9,086 8,327
Depreciation and amortization 28,007 22,545 56,019 46,261
Impairment – commercial mortgage residual interests valuation 77 0 235 0
Impairment losses and other charges 89 263 485 3,115
Total operating expenses 40,993 36,583 82,814 75,380
Earnings from operations 64,620 59,712 126,863 113,379
Other expenses (revenues):        
Interest and other income (94) (377) (158) (711)
Interest expense 21,761 23,529 42,040 45,488
Total other expenses (revenues) 21,667 23,152 41,882 44,777
Earnings from continuing operations before income tax benefit (expense) 42,953 36,560 84,981 68,602
Income tax benefit (expense) (441) (460) (349) 370
Earnings from continuing operations 42,512 36,100 84,632 68,972
Earnings (loss) from discontinued operations, net of income tax expense 18 1,506 (18) 2,537
Earnings before gain on disposition of real estate, net of income tax expense 42,530 37,606 84,614 71,509
Gain on disposition of real estate, net of income tax expense 3,054 0 4,810 0
Earnings including noncontrolling interests 45,584 37,606 89,424 71,509
Loss (earnings) attributable to noncontrolling interests:        
Continuing operations (13) 38 (520) 206
Discontinued operations 0 (158) 0 (163)
Net loss (income) attributable to noncontrolling interest (13) (120) (520) 43
Net earnings attributable to NNN 45,571 37,486 88,904 71,552
Net earnings attributable to common stockholders 36,713 32,724 71,187 62,029
Basic:        
Continuing operations (in dollars per share) $ 0.30 $ 0.27 $ 0.58 $ 0.51
Discontinued operations (in dollars per share) $ 0.00 $ 0.01 $ 0.00 $ 0.02
Net earnings (in dollars per share) $ 0.30 $ 0.28 $ 0.58 $ 0.53
Diluted:        
Continuing operations (in dollars per share) $ 0.30 $ 0.26 $ 0.58 $ 0.50
Discontinued operations (in dollars per share) $ 0.00 $ 0.01 $ 0.00 $ 0.02
Net earnings (in dollars per share) $ 0.30 $ 0.27 $ 0.58 $ 0.52
Weighted average number of common shares outstanding:        
Basic (in shares) 122,490,306 117,812,651 122,035,670 115,663,895
Diluted (in shares) 122,832,524 120,865,525 122,392,731 118,403,689
Other comprehensive income:        
Net earnings attributable to NNN 45,571 37,486 88,904 71,552
Amortization of interest rate hedges 216 118 351 178
Fair value forward starting swaps (2,939) (1,997) (6,312) (3,141)
Net gain – commercial mortgage residual interests 240 350 925 1,219
Valuation adjustments on available-for-sale securities (23) 8 91 89
Reclassification of noncontrolling interests 0 0 0 949
Comprehensive income attributable to NNN 43,065 35,965 83,959 70,846
Series D Depositary Share
       
Loss (earnings) attributable to noncontrolling interests:        
Preferred stock dividends (4,762) (4,762) (9,523) [1] (9,523) [1]
Series E Depositary Share
       
Loss (earnings) attributable to noncontrolling interests:        
Preferred stock dividends $ (4,096) $ 0 $ (8,194) [1] $ 0 [1]
[1] The Series D and E preferred stock have no maturity date and will remain outstanding unless redeemed.