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Organization and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 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").
 
September 30, 2015
Property Portfolio:
 
Total properties
2,231

Gross leasable area (square feet)
24,451,000

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):
 
September 30, 2015
 
December 31, 2014
Intangible lease assets (included in Other assets):
 
 
 
Value of above market in-place leases, net
$
11,268

 
$
11,751

Value of in-place leases, net
64,067

 
65,770

Intangible lease liabilities (included in Other liabilities):
 
 
 
Value of below market in-place leases, net
26,813

 
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 September 30,
 
Nine Months Ended September 30,
 
2015
 
2014
 
2015
 
2014
Basic and Diluted Earnings:
 
 
 
 
 
 
 
Net earnings attributable to NNN
$
55,198

 
$
47,940

 
$
155,365

 
$
136,844

Less: Series D preferred stock dividends
(4,762
)
 
(4,762
)
 
(14,285
)
 
(14,285
)
Less: Series E preferred stock dividends
(4,097
)
 
(4,097
)
 
(12,291
)
 
(12,291
)
Net earnings available to NNN’s common stockholders
46,339

 
39,081

 
128,789

 
110,268

Less: Earnings allocated to unvested restricted shares
(183
)
 
(205
)
 
(523
)
 
(567
)
Net earnings used in basic and diluted earnings per share
$
46,156

 
$
38,876

 
$
128,266

 
$
109,701

 
 
 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
Weighted average number of shares outstanding
134,789,572

 
125,559,410

 
133,810,946

 
123,834,126

Less: Unvested restricted stock
(420,417
)
 
(489,095
)
 
(409,839
)
 
(460,814
)
Less: Unvested contingent shares
(476,250
)
 
(516,249
)
 
(451,129
)
 
(488,952
)
Weighted average number of shares outstanding used in basic
   earnings per share
133,892,905

 
124,554,066

 
132,949,978

 
122,884,360

Other dilutive securities
353,193

 
491,031

 
356,290

 
481,704

Weighted average number of shares outstanding used in
  diluted earnings per share
134,246,098

 
125,045,097

 
133,306,268

 
123,366,064
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)
(10,297
)
 
(514
)
 
(48
)
 
(10,859
)
Reclassifications from accumulated other comprehensive income to net earnings
1,256

(3) 
246

(4) 
—

 
1,502

Net current period other comprehensive income (loss)
(9,041
)
 
(268
)
 
(48
)
 
(9,357
)
Ending balance, September 30, 2015
$
(22,620
)
 
$
4,525

 
$
80

 
$
(18,015
)
(1) Additional disclosure is included in Note 6 – Derivatives.
(2) Additional disclosure is included in Note 7 – 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.