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Organization and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
Summary of NNN's Investment Portfolio
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").
 
June 30, 2015
Property Portfolio:
 
Total properties
2,138

Gross leasable area (square feet)
23,747,000

States
47

Weighted average remaining lease term (years)
11.4
Intangible Assets and Liabilities
Intangible assets and liabilities consisted of the following as of (dollars in thousands):
 
June 30, 2015
 
December 31, 2014
Intangible lease assets (included in Other assets):
 
 
 
Value of above market in-place leases, net
$
11,582

 
$
11,751

Value of in-place leases, net
66,155

 
65,770

Intangible lease liabilities (included in Other liabilities):
 
 
 
Value of below market in-place leases, net
27,740

 
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 June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Basic and Diluted Earnings:
 
 
 
 
 
 
 
Net earnings attributable to NNN
$
46,188

 
$
45,571

 
$
100,167

 
$
88,904

Less: Series D preferred stock dividends
(4,762
)
 
(4,762
)
 
(9,523
)
 
(9,523
)
Less: Series E preferred stock dividends
(4,096
)
 
(4,096
)
 
(8,194
)
 
(8,194
)
Net earnings available to NNN’s common stockholders
37,330

 
36,713

 
82,450

 
71,187

Less: Earnings allocated to unvested restricted shares
(176
)
 
(198
)
 
(340
)
 
(361
)
Net earnings used in basic and diluted earnings per share
$
37,154

 
$
36,515

 
$
82,110

 
$
70,826

 
 
 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
Weighted average number of shares outstanding
134,163,959

 
123,495,650

 
133,313,523

 
122,957,186

Less: Unvested restricted stock
(420,417
)
 
(489,095
)
 
(404,463
)
 
(446,439
)
Less: Unvested contingent shares
(476,250
)
 
(516,249
)
 
(438,360
)
 
(475,077
)
Weighted average number of shares outstanding used in basic
   earnings per share
133,267,292

 
122,490,306

 
132,470,700

 
122,035,670

Other dilutive securities
333,364

 
342,218

 
354,100

 
357,061

Weighted average number of shares outstanding used in
  diluted earnings per share
133,600,656

 
122,832,524

 
132,824,800

 
122,392,731
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)
—

 
(630
)
 
(74
)
 
(704
)
Reclassifications from accumulated other comprehensive income to net earnings
832

(3) 
246

(4) 
—

 
1,078

Net current period other comprehensive income (loss)
832

 
(384
)
 
(74
)
 
374

Ending balance, June 30, 2015
$
(12,747
)
 
$
4,409

 
$
54

 
$
(8,284
)
(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.
(4) Reclassifications out of other comprehensive income are recorded in Impairment on the Condensed Consolidated Statements of Comprehensive Income. There is no income tax expense (benefit) resulting from this reclassification.