Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of the net income tax asset consist of the following at December 31 (dollars in thousands):

	2011			2010
Temporary differences:
Built-in gain	$	(3,537	)	$	(4,068	)
Depreciation	(1,103		)	(772		)
Cost basis	386			256
Deferred income	151			230
Other	(267		)	56
Reserves	11,035			13,160
Goodwill	3,524			3,239
Excess interest expense carryforward	5,299			5,678
Net operating loss carryforward	6,805			5,398
Net deferred income tax asset	22,293			23,177
Valuation allowance	(18,021		)	$	(18,021	)
Total deferred income tax asset	$	4,272		$	5,156

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The income tax benefit consists of the following components for the years ended December 31, (as adjusted) (dollars in thousands):

	2011			2010			2009
Net earnings before income taxes	$	93,302		$	74,097		$	53,930
Provision for income tax benefit (expense):
Current:
Federal	(79		)	(254		)	(419		)
State and local	(15		)	(48		)	(79		)
Deferred:
Federal	(801		)	(744		)	1,110
State and local	(82		)	(54		)	268
Total benefit (expense) for income taxes	(977		)	(1,100		)	880
Net earnings attributable to NNN’s stockholders	$	92,325		$	72,997		$	54,810