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Organization and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [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" or "Property Portfolio," or individually a "Property"). 
 
December 31, 2015
Property Portfolio:
 
Total properties
2,257

Gross leasable area (square feet)
24,964,000

States
47

Weighted average remaining lease term (years)
11.4
Schedule of Intangible Assets and Related Amortization
Intangible assets and liabilities consisted of the following as of December 31 (dollars in thousands):
 
 
2015
 
2014
Intangible lease assets (included in Other assets):
 
 
 
 
Value of above market in-place leases, net
 
$
10,883

 
$
11,751

Value of in-place leases, net
 
61,359

 
65,770

Intangible lease liabilities (included in Other liabilities):
 
 
 
 
Value of below market in-place leases, net
 
25,767

 
29,162
New Accounting Pronouncement, Early Adoption
As a result of the implementation of ASU 2015-03, on a retrospective basis, NNN reclassified debt costs on the Consolidated Balance Sheet for the year ended December 31, 2014, as follows (dollars in thousands):
Assets
 
Debt costs, net of accumulated amortization
$
(11,162
)
Liabilities
 
Mortgages payable
156

Notes payable
11,006
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 for the years ended December 31 (dollars in thousands):
 
 
2015
 
2014
 
2013
Basic and Diluted Earnings:
 
 
 
 
 
Net earnings attributable to NNN
$
197,836

 
$
190,601

 
$
160,145

Less: Series D preferred stock dividends
(19,047
)
 
(19,047
)
 
(19,047
)
Less: Series E preferred stock dividends
(16,387
)
 
(16,387
)
 
(8,876
)
Net earnings attributable to common stockholders
162,402

 
155,167

 
132,222

Less: Earnings attributable to unvested restricted shares
(706
)
 
(773
)
 
(718
)
Net earnings used in basic and diluted earnings per share
$
161,696

 
$
154,394

 
$
131,504

 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
Weighted average number of shares outstanding
134,868,640

 
125,221,358

 
118,969,771

Less: Unvested restricted shares
(412,505
)
 
(467,968
)
 
(448,590
)
Less: Unvested contingent shares
(457,461
)
 
(495,832
)
 
(317,033
)
Weighted average number of shares outstanding used in basic earnings per share
133,998,674

 
124,257,558

 
118,204,148

Effects of dilutive securities:
 
 
 
 
 
Convertible debt
—

 
—

 
1,468,559

Other
490,742

 
452,668

 
192,117

Weighted average number of shares outstanding used in diluted earnings per share
134,489,416

 
124,710,226

 
119,864,824
Changes in accumulated other comprehensive income
The following table outlines the changes in accumulated other comprehensive income (dollars in thousands):
 
Gain or Loss 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, 2013
$
(8,396
)
 
$
3,755

 
$
136

 
$
(4,505
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
(6,312
)
 
875

 
111

 
(5,326
)
 
Reclassifications from accumulated other comprehensive income to net earnings
1,129

(3) 
163

(4 
) 
(119
)
(5 
) 
1,173

 
Net current period other comprehensive income (loss)
(5,183
)
 
1,038

 
(8
)
 
(4,153
)
 
Ending balance, December 31, 2014
(13,579
)
 
4,793

 
128

 
(8,658
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
(13,369
)
 
(585
)
 
112

 
(13,842
)
 
Reclassifications from accumulated other comprehensive income to net earnings
1,902

(3) 
246

(4 
) 
—

 
2,148

 
Net current period other comprehensive income (loss)
(11,467
)
 
(339
)
 
112

 
(11,694
)
 
Ending balance, December 31, 2015
$
(25,046
)
 
$
4,454

 
$
240

 
$
(20,352
)
 
(1) Additional disclosure is included in Note 13 – Derivatives.
(2) Additional disclosure is included in Note 18 – Fair Value Measurements.
(3) Reclassifications out of other comprehensive income are recorded in Interest Expense on the Consolidated Statements of Income and 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 Consolidated Statements of Income and Comprehensive Income. There is no income tax expense (benefit) resulting from this reclassification.
(5) Reclassifications out of other comprehensive income are recorded in Other Income on the Consolidated Statements of Comprehensive Income. There is no income tax expense (benefit) resulting from this reclassification.