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Organization and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2018
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, 2018
Property Portfolio:
 
Total properties
2,800

Gross leasable area (square feet)
29,116,000

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, 2018
 
December 31, 2017
Intangible lease assets (included in Other assets):
 
 
 
 
Above-market in-place leases
 
$
16,467

 
$
16,583

Less: accumulated amortization
 
(9,601
)
 
(9,299
)
Above market in-place leases, net
 
$
6,866

 
$
7,284

 
 
 
 
 
In-place leases
 
$
106,831

 
$
104,592

Less: accumulated amortization
 
(63,497
)
 
(61,004
)
In-place leases, net
 
$
43,334

 
$
43,588

 
 
 
 
 
Intangible lease liabilities (included in Other liabilities):
 
 
 
 
Below-market in-place leases
 
$
44,552

 
$
44,468

Less: accumulated amortization
 
(25,990
)
 
(26,055
)
Below-market in-place leases, net
 
$
18,562

 
$
18,413
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,
 
2018
 
2017
Basic and Diluted Earnings:
 
 
 
Net earnings attributable to NNN
$
103,280

 
$
73,657

Less: Series D preferred stock dividends
—

 
(3,598
)
Less: Series E preferred stock dividends
(4,097
)
 
(4,097
)
Less: Series F preferred stock dividends
(4,485
)
 
(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
94,698

 
51,622

Less: Earnings allocated to unvested restricted shares
(147
)
 
(130
)
Net earnings used in basic and diluted earnings per share
$
94,551

 
$
51,492

 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
Weighted average number of shares outstanding
153,678,913

 
147,581,522

Less: Unvested restricted stock
(237,617
)
 
(285,887
)
Less: Unvested contingent restricted shares
(400,240
)
 
(365,957
)
Weighted average number of shares outstanding used in basic earnings per share
153,041,056

 
146,929,678

Other dilutive securities
352,327

 
349,859

Weighted average number of shares outstanding used in diluted earnings per share
153,393,383

 
147,279,537
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 or (Losses) on Available-for-Sale Securities
 
Total
Beginning balance, December 31, 2017
$
(14,655
)
 
$
917

 
$
(13,738
)
 
 
 
 
 
 
Other comprehensive income (loss)
(2,164
)
 
(132
)
 
(2,296
)
Reclassifications from accumulated other comprehensive income to net earnings
525

(2) 
—

 
525

Net current period other comprehensive income (loss)
(1,639
)
 
(132
)
 
(1,771
)
Ending balance, March 31, 2018
$
(16,294
)
 
$
785

 
$
(15,509
)
(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.