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Organization and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2017
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").
 
March 31, 2017
Property Portfolio:
 
Total properties
2,543

Gross leasable area (square feet)
27,311,000

States
48

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):
 
March 31, 2017
 
December 31, 2016
Intangible lease assets (included in Other assets):
 
 
 
Value of above-market in-place leases, net
$
8,451

 
$
9,591

Value of in-place leases, net
52,234

 
55,290

Intangible lease liabilities (included in Other liabilities):
 
 
 
Value of below-market in-place leases, net
20,316

 
22,100
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,
 
2017
 
2016
Basic and Diluted Earnings:
 
 
 
Net earnings attributable to NNN
$
73,657

 
$
70,683

Less: Series D preferred stock dividends
(3,598
)
 
(4,762
)
Less: Series E preferred stock dividends
(4,097
)
 
(4,097
)
Less: Series F preferred stock dividends
(4,485
)
 
—

Less: Excess of redemption value over carrying value of Series D preferred shares redeemed
(9,855
)
 
—

Net earnings available to NNN’s common stockholders
51,622

 
61,824

Less: Earnings allocated to unvested restricted shares
(130
)
 
(151
)
Net earnings used in basic and diluted earnings per share
$
51,492

 
$
61,673

 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
Weighted average number of shares outstanding
147,581,522

 
141,577,504

Less: Unvested restricted stock
(285,887
)
 
(343,466
)
Less: Unvested contingent restricted shares
(365,957
)
 
(393,667
)
Weighted average number of shares outstanding used in basic earnings per share
146,929,678

 
140,840,371

Other dilutive securities
349,859

 
485,632

Weighted average number of shares outstanding used in diluted earnings per share
147,279,537

 
141,326,003
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 on Available-for-Sale Securities
 
Total
Beginning balance, December 31, 2016
$
(8,899
)
 
$
708

 
$
(8,191
)
 
 
 
 
 
 
Other comprehensive income (loss)
(554
)
 
74

 
(480
)
Reclassifications from accumulated other comprehensive income to net earnings
447

(2) 
—

 
447

Net current period other comprehensive income (loss)
(107
)
 
74

 
(33
)
Ending balance, March 31, 2017
$
(9,006
)
 
$
782

 
$
(8,224
)
(1) Additional disclosure is included in Note 5 – Derivatives.
(2) Reclassifications out of other comprehensive income (loss) are recorded in Interest Expense on the Condensed Consolidated Statements of Income and Comprehensive Income.