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Condensed Consolidated Statements Of Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Rental income from operating leases $ 105,013 $ 95,921 $ 304,798 $ 275,009
Earned income from direct financing leases 427 489 1,306 1,495
Percentage rent 177 267 489 800
Real estate expense reimbursement from tenants 3,323 3,162 9,783 9,343
Interest and other income from real estate transactions 452 342 1,786 1,098
Interest income on commercial mortgage residual interests 464 594 1,370 1,789
Total revenues 109,856 100,775 319,532 289,534
Operating expenses:        
General and administrative 9,007 7,536 25,995 25,213
Real estate 4,583 4,543 13,669 12,870
Depreciation and amortization 29,768 25,831 85,787 72,092
Impairment – commercial mortgage residual interests valuation 21 16 256 16
Impairment losses and other charges 77 435 562 3,550
Total operating expenses 43,456 38,361 126,269 113,741
Earnings from operations 66,400 62,414 193,263 175,793
Other expenses (revenues):        
Interest and other income (87) (722) (245) (1,433)
Interest expense 21,641 20,125 63,681 65,613
Total other expenses (revenues) 21,554 19,403 63,436 64,180
Earnings from continuing operations before income tax benefit (expense) 44,846 43,011 129,827 111,613
Income tax benefit (expense) (372) (219) (721) 152
Earnings from continuing operations 44,474 42,792 129,106 111,765
Earnings from discontinued operations, net of income tax expense 142 1,550 124 4,086
Earnings before gain on disposition of real estate, net of income tax expense 44,616 44,342 129,230 115,851
Gain on disposition of real estate, net of income tax expense 3,356 0 8,166 0
Earnings including noncontrolling interests 47,972 44,342 137,396 115,851
Loss (earnings) attributable to noncontrolling interests:        
Continuing operations (32) 10 (552) 216
Discontinued operations 0 0 0 (163)
Net loss (income) attributable to noncontrolling interest (32) 10 (552) 53
Net earnings attributable to NNN 47,940 44,352 136,844 115,904
Net earnings attributable to common stockholders 39,081 34,810 110,268 96,839
Basic:        
Continuing operations (in dollars per share) $ 0.31 $ 0.28 $ 0.89 $ 0.79
Discontinued operations (in dollars per share) $ 0.00 $ 0.01 $ 0.00 $ 0.03
Net earnings (in dollars per share) $ 0.31 $ 0.29 $ 0.89 $ 0.82
Diluted:        
Continuing operations (in dollars per share) $ 0.31 $ 0.28 $ 0.89 $ 0.77
Discontinued operations (in dollars per share) $ 0.00 $ 0.01 $ 0.00 $ 0.04
Net earnings (in dollars per share) $ 0.31 $ 0.29 $ 0.89 $ 0.81
Weighted average number of common shares outstanding:        
Basic (in shares) 124,554,066 120,287,890 122,884,360 117,222,163
Diluted (in shares) 125,045,097 121,230,232 123,366,064 119,356,194
Other comprehensive income:        
Net earnings attributable to NNN 47,940 44,352 136,844 115,904
Amortization of interest rate hedges 385 128 736 306
Fair value forward starting swaps 0 0 (6,312) (3,141)
Net gain (loss) – commercial mortgage residual interests (224) 376 701 1,595
Valuation adjustments on available-for-sale securities (202) 36 (111) 125
Reclassification of noncontrolling interests 0 0 0 949
Comprehensive income attributable to NNN 47,899 44,892 131,858 115,738
Series D Depositary Share
       
Loss (earnings) attributable to noncontrolling interests:        
Preferred stock dividends (4,762) (4,762) (14,285) [1] (14,285) [1]
Series E Depositary Share
       
Loss (earnings) attributable to noncontrolling interests:        
Preferred stock dividends $ (4,097) $ (4,780) $ (12,291) [1] $ (4,780) [1]
[1] The Series D and E preferred stock have no maturity date and will remain outstanding unless redeemed.