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Organization and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2020
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, 2020
Property Portfolio:
 
Total properties
3,125

Gross leasable area (square feet)
32,500,000

States
48

Weighted average remaining lease term (years)
11.1
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,
 
2020
 
2019
Basic and Diluted Earnings:
 
 
 
Net earnings attributable to NNN
$
65,178

 
$
80,023

Less: Series E preferred stock dividends
—

 
(4,097
)
Less: Series F preferred stock dividends
(4,485
)
 
(4,485
)
Net earnings available to NNN’s common stockholders
60,693

 
71,441

Less: Earnings allocated to unvested restricted shares
(160
)
 
(116
)
Net earnings used in basic and diluted earnings per share
$
60,533

 
$
71,325

 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
Weighted average number of shares outstanding
171,827,815

 
161,785,877

Less: Unvested restricted stock
(311,553
)
 
(232,795
)
Less: Unvested contingent restricted shares
(477,245
)
 
(447,767
)
Weighted average number of shares outstanding used in basic earnings per share
171,039,017

 
161,105,315

Other dilutive securities
192,811

 
508,759

Weighted average number of shares outstanding used in diluted earnings per share
171,231,828

 
161,614,074
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)
 
Beginning balance, December 31, 2019
$
(11,128
)
 
 
 
 
Other comprehensive income
(7,617
)
 
Reclassifications from accumulated other comprehensive income to net earnings
383

(2) 
Net current period other comprehensive income (loss)
(7,234
)
 
Ending balance, March 31, 2020
$
(18,362
)
 
(1) Additional disclosure is included in Note 6 – Derivatives.
(2) Recorded in interest expense on the Condensed Consolidated Statements of Income and Comprehensive Income.