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Real Estate (Tables)
 12 Months Ended
Dec. 31, 2017
Real Estate [Abstract]  
Classification of Investment Property Leases
The following outlines key information for NNN’s leases at December 31, 2017:
 
Lease classification:
 
Operating
2,791

Direct financing
7

Building portion – direct financing / and portion – operating
2

Weighted average remaining lease term (years)
11.5
Summary of Real Estate Subject to Operating Leases
Real estate subject to operating leases consisted of the following as of December 31 (dollars in thousands):
 
2017
 
2016
Land and improvements (1)
$
2,289,749

 
$
2,101,923

Buildings and improvements
4,972,233

 
4,487,509

Leasehold interests
5,261

 
4,565

 
7,267,243

 
6,593,997

Less accumulated depreciation and amortization
(880,235
)
 
(739,008
)
 
6,387,008

 
5,854,989

Work in progress - improvements
41,920

 
24,057

 
$
6,428,928

 
$
5,879,046


(1) Includes $25,799 and $30,725 in land for Properties under construction at December 31, 2017 and 2016,
respectively.
Schedule of Future Minimum Lease Payments for Capital Leases
The following is a schedule of future minimum lease payments to be received on noncancellable operating leases at December 31, 2017 (dollars in thousands):
 
2018
$
574,030

2019
561,799

2020
545,134

2021
524,730

2022
494,183

Thereafter
3,989,805

 
$
6,689,681
Net Investment in Direct Financing Leases
The following lists the components of net investment in direct financing leases at December 31 (dollars in thousands):
 
 
2017
 
2016
Minimum lease payments to be received
$
9,339

 
$
11,200

Estimated unguaranteed residual values
4,967

 
5,664

Less unearned income
(4,656
)
 
(5,634
)
Net investment in direct financing leases
$
9,650

 
$
11,230
Schedule of Future Minimum Lease Receivables for Financing Leases
The following is a schedule of future minimum lease payments to be received on direct financing leases held for investment at December 31, 2017 (dollars in thousands):
 
2018
$
1,834

2019
1,512

2020
1,043

2021
720

2022
726

Thereafter
3,504

 
$
9,339
Disclosure of Long Lived Assets Held-for-sale
Real estate held for sale consisted of the following as of December 31 (dollars in thousands):
 
2017
 
2016
Land and improvements
$
2,581

 
$
15,106

Building and improvements
3,252

 
17,185

 
5,833

 
32,291

Less accumulated depreciation and amortization
(886
)
 
(3,459
)
Less impairment
(864
)
 
(2,748
)
 
$
4,083

 
$
26,084
Disclosure of Long Lived Assets Held-for-sale, Gains Recognized
The following table summarizes the Properties sold and the corresponding gain recognized on the disposition of Properties for the years ended December 31 (dollars in thousands):
 
2017
 
2016
 
2015
 
# of Sold
Properties
 
Gain
 
# of Sold
Properties
 
Gain
 
# of Sold
Properties
 
Gain
 
Gain on disposition of real estate
48
 
$
36,655

 
38
 
$
27,182

 
19
 
$
10,807

 
Income tax expense
 
 
—

 
 
 
—

 
 
 
(357
)
 
 
 
 
$
36,655

 
 
 
$
27,182

 
 
 
$
10,450

 
Remaining Funding Commitments
These construction commitments, at December 31, 2017, are outlined in the table below (dollars in thousands):
Total commitment(1)
 
$
129,925

Amount funded
 
67,719

Remaining commitment
 
62,206

(1)
Includes land, construction costs, tenant improvements, lease costs and capitalized interest.