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Organization and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 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").
 
June 30, 2017
Property Portfolio:
 
Total properties
2,675

Gross leasable area (square feet)
28,102,000

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):
 
June 30, 2017
 
December 31, 2016
Intangible lease assets (included in Other assets):
 
 
 
Value of above-market in-place leases, net
$
8,091

 
$
9,591

Value of in-place leases, net
54,155

 
55,290

Intangible lease liabilities (included in Other liabilities):
 
 
 
Value of below-market in-place leases, net
20,694

 
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 June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Basic and Diluted Earnings:
 
 
 
 
 
 
 
Net earnings attributable to NNN
$
58,028

 
$
51,942

 
$
131,685

 
$
122,625

Less: Series D preferred stock dividends
—

 
(4,762
)
 
(3,598
)
 
(9,523
)
Less: Series E preferred stock dividends
(4,096
)
 
(4,096
)
 
(8,194
)
 
(8,194
)
Less: Series F preferred stock dividends
(4,485
)
 
—

 
(8,970
)
 
—

Less: Excess of redemption value over carrying value of Series D preferred shares redeemed
—

 
—

 
(9,855
)
 
—

Net earnings available to NNN’s common stockholders
49,447

 
43,084

 
101,068

 
104,908

Less: Earnings allocated to unvested restricted shares
(137
)
 
(177
)
 
(267
)
 
(326
)
Net earnings used in basic and diluted earnings per share
$
49,310

 
$
42,907

 
$
100,801

 
$
104,582

 
 
 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
Weighted average number of shares outstanding
149,119,191

 
144,315,093

 
148,354,604

 
142,946,299

Less: Unvested restricted stock
(301,206
)
 
(406,170
)
 
(293,588
)
 
(374,701
)
Less: Unvested contingent restricted shares
(445,484
)
 
(465,548
)
 
(405,940
)
 
(429,608
)
Weighted average number of shares outstanding used in basic earnings per share
148,372,501

 
143,443,375

 
147,655,076

 
142,141,990

Other dilutive securities
346,969

 
533,337

 
368,592

 
551,795

Weighted average number of shares outstanding used in diluted earnings per share
148,719,470

 
143,976,712

 
148,023,668

 
142,693,785
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)
(1,694
)
 
(7
)
 
(1,701
)
Reclassifications from accumulated other comprehensive income to net earnings
903

(2) 
—

 
903

Net current period other comprehensive income (loss)
(791
)
 
(7
)
 
(798
)
Ending balance, June 30, 2017
$
(9,690
)
 
$
701

 
$
(8,989
)
(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.