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Organization and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [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 are primarily held for investment ("Properties" or "Property Portfolio," or individually a "Property"). 
 
December 31, 2018
Property Portfolio:
 
Total properties
2,969

Gross leasable area (square feet)
30,487,000

States
48

Weighted average remaining lease term (years)
11.5
Schedule of Intangible Assets and Related Amortization
Intangible assets and liabilities consisted of the following as of December 31 (dollars in thousands):
 
 
2018
 
2017
Intangible lease assets (included in other assets):
 
 
 
 
Above-market in-place leases
 
$
15,175

 
$
16,583

Less: accumulated amortization
 
(9,239
)
 
(9,299
)
Above-market in-place leases, net
 
$
5,936

 
$
7,284

 
 
 
 
 
In-place leases
 
$
104,871

 
$
104,592

Less: accumulated amortization
 
(60,797
)
 
(61,004
)
In-place leases, net
 
$
44,074

 
$
43,588

 
 
 
 
 
Intangible lease liabilities (included in other liabilities):
 
 
 
 
Below-market in-place leases
 
$
41,554

 
$
44,468

Less: accumulated amortization
 
(25,258
)
 
(26,055
)
Below-market in-place leases, net
 
$
16,296

 
$
18,413
Schedule of Amortization for Finite-lived Intangible Assets
The following is a schedule of the amortization of acquired above-market and below-market in-place lease intangibles and the amortization of the in-place lease intangibles at December 31, 2018 (dollars in thousands):
 
Net Increase to Rental Income
 
Increase To Amortization Expense
2019
$
730

 
$
6,716

2020
676

 
6,000

2021
562

 
5,285

2022
440

 
4,817

2023
358

 
4,309

Thereafter
7,594

 
16,947

 
 
 
 
Weighted average amortization period (years)
18.7

 
9.8
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 for the years ended December 31 (dollars in thousands):
 
 
2018
 
2017
 
2016
Basic and Diluted Earnings:
 
 
 
 
 
Net earnings attributable to NNN
$
292,447

 
$
264,973

 
$
239,500

Less: Series D preferred stock dividends
—

 
(3,598
)
 
(19,047
)
Less: Series E preferred stock dividends
(16,387
)
 
(16,387
)
 
(16,387
)
Less: Series F preferred stock dividends
(17,940
)
 
(17,940
)
 
(3,189
)
Less: Excess of redemption value over carrying value of Series D preferred shares redeemed
—

 
(9,855
)
 
—

Net earnings available to common stockholders
258,120

 
217,193

 
200,877

Less: Earnings attributable to unvested restricted shares
(548
)
 
(531
)
 
(695
)
Net earnings used in basic and diluted earnings per share
$
257,572

 
$
216,662

 
$
200,182

 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
Weighted average number of shares outstanding
156,490,901

 
149,840,116

 
145,014,422

Less: Unvested restricted shares
(280,633
)
 
(285,585
)
 
(390,522
)
Less: Unvested contingent restricted shares
(465,667
)
 
(443,343
)
 
(447,676
)
Weighted average number of shares outstanding used in basic earnings per share
155,744,601

 
149,111,188

 
144,176,224

Effects of dilutive securities:
 
 
 
 
 
Other
551,018

 
321,453

 
484,409

Weighted average number of shares outstanding used in diluted earnings per share
156,295,619

 
149,432,641

 
144,660,633
Changes in Accumulated Other Comprehensive Income (Loss)
The following table outlines the changes in accumulated other comprehensive income (loss) (dollars in thousands):
 
Gain or Loss on Cash Flow Hedges(1)
 
Gains and Losses on Available-for-Sale Securities
 
Total
 
Beginning balance, December 31, 2016
$
(8,899
)
 
$
708

 
$
(8,191
)
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
(7,688
)
 
209

 
(7,479
)
 
Reclassifications from accumulated other comprehensive income to net earnings
1,932

(2) 
—

 
1,932

 
Net current period other comprehensive income (loss)
(5,756
)
 
209

 
(5,547
)
 
Ending balance, December 31, 2017
(14,655
)
 
917

 
(13,738
)
 
 
 
 
 
 
 
 
Other comprehensive income (loss)
4,080

 
298

 
4,378

 
Reclassifications from accumulated other comprehensive income to net earnings
3,664

(2) 
—

 
3,664

 
Net current period other comprehensive income (loss)
7,744

 
298

 
8,042

 
Ending balance, December 31, 2018
$
(6,911
)
 
$
1,215

 
$
(5,696
)
 
(1) Additional disclosure is included in Note 12 – Derivatives.
(2) Reclassifications out of other comprehensive income (loss) are recorded in interest expense on the Consolidated Statements of Income and Comprehensive Income. There is no income tax expense (benefit) resulting from this reclassification.