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Organization and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2016
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, 2016
Property Portfolio:
 
Total properties
2,485

Gross leasable area (square feet)
26,640,000

States
48

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, 2016
 
December 31, 2015
Intangible lease assets (included in Other assets):
 
 
 
Value of above-market in-place leases, net
$
9,979

 
$
10,883

Value of in-place leases, net
58,659

 
61,359

Intangible lease liabilities (included in Other liabilities):
 
 
 
Value of below-market in-place leases, net
23,151

 
25,767
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,
 
2016
 
2015
 
2016
 
2015
Basic and Diluted Earnings:
 
 
 
 
 
 
 
Net earnings attributable to NNN
$
50,784

 
$
55,198

 
$
173,409

 
$
155,365

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
41,925

 
46,339

 
146,833

 
128,789

Less: Earnings allocated to unvested restricted shares
(184
)
 
(183
)
 
(510
)
 
(523
)
Net earnings used in basic and diluted earnings per share
$
41,741

 
$
46,156

 
$
146,323

 
$
128,266

 
 
 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
Weighted average number of shares outstanding
146,982,759

 
134,789,572

 
144,301,606

 
133,810,946

Less: Unvested restricted stock
(406,170
)
 
(420,417
)
 
(385,267
)
 
(409,839
)
Less: Unvested contingent shares
(465,548
)
 
(476,250
)
 
(441,675
)
 
(451,129
)
Weighted average number of shares outstanding used in basic earnings per share
146,111,041

 
133,892,905

 
143,474,664

 
132,949,978

Other dilutive securities
570,551

 
353,193

 
561,501

 
356,290

Weighted average number of shares outstanding used in diluted earnings per share
146,681,592

 
134,246,098

 
144,036,165

 
133,306,268
Schedule of AOCI
The following table outlines the changes in accumulated other comprehensive income (loss) (dollars in thousands):
 
Gains or Losses on Cash Flow Hedges (1)
 
Gains and Losses on Commercial Mortgage Residual Interests (2)
 
Gains on Available-for-Sale Securities
 
Total
Beginning balance, December 31, 2015
$
(25,046
)
 
$
4,454

 
$
240

 
$
(20,352
)
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
2,122

 
(182
)
 
600

 
2,540

Reclassifications from accumulated other comprehensive income to net earnings
1,013

(3) 
(4,272
)
(4) 
—

 
(3,259
)
Net current period other comprehensive income (loss)
3,135

 
(4,454
)
 
600

 
(719
)
Ending balance, September 30, 2016
$
(21,911
)
 
$
—

 
$
840

 
$
(21,071
)
(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 (loss) are recorded in Interest Expense on the Condensed 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 Condensed Consolidated Statements of Income and Comprehensive Income. There is no income tax expense (benefit) resulting from these reclassifications.