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Organization and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2015
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", "Property Portfolio", or individually a "Property").
 
March 31, 2015
Property Portfolio:
 
Total properties
2,104

Gross leasable area (square feet)
23,146,000

States
47

Weighted average remaining lease term (years)
11.5
Intangible Assets and Liabilities
Intangible assets and liabilities consisted of the following as of (dollars in thousands):
 
March 31, 2015
 
December 31, 2014
Intangible lease assets (included in Other assets):
 
 
 
Value of above market in-place leases, net
$
11,937

 
$
11,751

Value of in-place leases, net
68,118

 
65,770

Intangible lease liabilities (included in Other liabilities):
 
 
 
Value of below market in-place leases, net
28,522

 
29,162
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 March 31,
 
2015
 
2014
Basic and Diluted Earnings:
 
 
 
Net earnings attributable to NNN
$
53,978

 
$
43,333

Less: Series D preferred stock dividends
(4,762
)
 
(4,762
)
Less: Series E preferred stock dividends
(4,097
)
 
(4,097
)
Net earnings available to NNN’s common stockholders
45,119

 
34,474

Less: Earnings allocated to unvested restricted shares
(163
)
 
(163
)
Net earnings used in basic and diluted earnings per share
$
44,956

 
$
34,311

 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
Weighted average number of shares outstanding
132,453,638

 
122,412,739

Less: Unvested restricted stock
(388,331
)
 
(403,309
)
Less: Unvested contingent shares
(400,049
)
 
(433,447
)
Weighted average number of shares outstanding used in basic
   earnings per share
131,665,258

 
121,575,983

Other dilutive securities
444,707

 
290,968

Weighted average number of shares outstanding used in
  diluted earnings per share
132,109,965

 
121,866,951
Schedule of AOCI
The following table outlines the changes in accumulated other comprehensive income (dollars in thousands):
 
Gains or Losses on Cash Flow Hedges (1)
 
Gains and Losses on Commercial Mortgage Residual Interests (2)
 
Gains and Losses on Available-for-Sale Securities
 
Total
Beginning balance, December 31, 2014
$
(13,579
)
 
$
4,793

 
$
128

 
$
(8,658
)
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
—

 
(346
)
 
73

 
(273
)
Reclassifications from accumulated other comprehensive income to net earnings
414

(3) 
—

 
—

 
414

Net current period other comprehensive income (loss)
414

 
(346
)
 
73

 
141

Ending balance, March 31, 2015
$
(13,165
)
 
$
4,447

 
$
201

 
$
(8,517
)
(1) Additional disclosure is included in Note 7 – Derivatives.
(2) Additional disclosure is included in Note 8 – Fair Value Measurements.
(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.