Segment Information

12 Months Ended

Dec. 31, 2011

Segment Reporting [Abstract]

Segment Information

Segment Information:

For the years ended December 31, 2009 and 2010, NNN has identified two primary financial segments: (i) Investment assets and (ii) Inventory Assets. For the year ended December 31, 2011, as a result of a continued reduction in investments in real estate acquired for the purpose of resale, the previously reported segment of inventory assets no longer meets the criteria for significance for separate segment reporting. Therefore, for 2011, NNN's operations are reported within one business segment in the financial statements. For comparability, the following tables represent the segment data and reconciliation to NNN's consolidated totals for theyears ended December 31, 2011, 2010 and 2009 (as adjusted) (dollars in thousands):

2011	Investment Assets			Inventory Assets			Eliminations (Intercompany)			Consolidated Totals
External revenues	261,099			29			—			261,128
Intersegment revenues	50			—			(50		)	—
Interest revenue	2,992			79			—			3,071
Interest revenue on Residuals	3,105			—			—			3,105
Gain on the disposition of real estate, Inventory Portfolio	—			297			—			297
Retail operations, net	2,043			—			—			2,043
Interest expense	76,223			(1,328		)	(50		)	74,845
Depreciation and amortization	58,110			5			—			58,115
Operating expenses	40,973			4,728			—			45,701
Impairment losses and other charges, net of recoveries	1,500			(2,931		)	—			(1,431		)
Impairment – commercial mortgage residual interests valuation	1,024			—			—			1,024
Equity in earnings of unconsolidated affiliate	722			—			(248		)	474
Income tax benefit (expense)	(790		)	11			—			(779		)
Earnings (loss) from continuing operations	91,391			(58		)	(248		)	91,085
Earnings from discontinued operations, net of income tax expense	934			397			—			1,331
Earnings (loss) including noncontrolling interests	92,325			339			(248		)	92,416
Earnings attributable to noncontrolling interests from continuing operations	—			(11		)	—			(11		)
Earnings attributable to noncontrolling interests from discontinued operations	—			(80		)	—			(80		)
Net earnings (loss) attributable to NNN	$	92,325		$	248		$	(248	)	$	92,325
Assets	$	3,560,485		$	35,375		$	(161,431	)	$	3,434,429
Additions to long-lived assets:
Real estate	$	758,380		$	1,025		$	—		$	759,405

2010	Investment Assets			Inventory Assets			Eliminations (Intercompany)			Consolidated Totals
External revenues	222,703			(40		)	—			222,663
Intersegment revenues	671			534			(1,205		)	—
Interest revenue	3,230			48			—			3,278
Interest revenue on Residuals	3,460			—			—			3,460
Gain on the disposition of real estate, Inventory Portfolio	—			426			215			641
Retail operations, net	1,311			—			—			1,311
Interest expense	67,834			(1,450		)	(1,205		)	65,179
Depreciation and amortization	48,039			8			—			48,047
Operating expenses	31,669			4,329			—			35,998
Impairment losses and other charges, net of recoveries	7,458			260			(260		)	7,458
Impairment – commercial mortgage residual interests valuation	3,995			—			—			3,995
Equity in earnings of unconsolidated affiliate	(372		)	—			800			428
Income tax benefit (expense)	(1,434		)	959			—			(475		)
Earnings (loss) from continuing operations	70,574			(1,220		)	1,275			70,629
Earnings from discontinued operations, net of income tax expense	2,432			292			—			2,724
Earnings (loss) including noncontrolling interests	73,006			(928		)	1,275			73,353
Earnings attributable to noncontrolling interests from continuing operations	(9		)	(358		)	—			(367		)
Loss attributable to noncontrolling interests from discontinued operations	—			11			—			11
Net earnings (loss) attributable to NNN	$	72,997		$	(1,275	)	$	1,275		$	72,997
Assets	$	2,846,036		$	38,997		$	(171,458	)	$	2,713,575
Additions to long-lived assets:
Real estate	$	230,928		$	478		$	—		$	231,406

2009	Investment Assets			Inventory Assets			Eliminations (Intercompany)			Consolidated Totals
External revenues	221,276			194			—			221,470
Intersegment revenues	3,035			1,042			(4,077		)	—
Interest revenue	4,446			30			—			4,476
Interest revenue on Residuals	4,252			—			—			4,252
Gain on the disposition of real estate, Inventory Portfolio	—			5			32			37
Retail operations, net	419			—			—			419
Interest expense	66,018			188			(4,055		)	62,151
Depreciation and amortization	46,248			10			—			46,258
Operating expenses	30,191			5,080			—			35,271
Impairment losses and other charges, net of recoveries	29,367			6,713			—			36,080
Impairment – commercial mortgage residual interests valuation	498			—			—			498
Restructuring costs	731			—			—			731
Equity in earnings of unconsolidated affiliate	(12,280		)	—			12,701			421
Gain on extinguishment of debt	3,432			—			—			3,432
Income tax benefit	462			587			—			1,049
Earnings (loss) from continuing operations	51,989			(10,133		)	12,711			54,567
Earnings (loss) from discontinued operations, net of income tax expense	3,338			(1,506		)	—			1,832
Earnings (loss) including noncontrolling interests	55,327			(11,639		)	12,711			56,399
Earnings attributable to noncontrolling interests from continuing operations	(517		)	(906		)	—			(1,423		)
Earnings attributable to noncontrolling interests from discontinued operations	—			(166		)	—			(166		)
Net earnings (loss) attributable to NNN	$	54,810		$	(12,711	)	$	12,711		$	54,810
Assets	$	2,588,408		$	237,715		$	(235,161	)	$	2,590,962
Additions to long-lived assets:
Real estate	$	44,433		$	2,457		$	—		$	46,890