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Organization And Summary Of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2013
Accounting Policies [Abstract]  
Summary Of NNN's Investment Portfolio
NNN's assets include: real estate, mortgages and notes receivable, and commercial mortgage residual interests. 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” or “Property Portfolio”). 
 
March 31, 2013
Property Portfolio:
 
Total properties
1,636

Gross leasable area (square feet)
19,267,000

States
47
Intangible Assets and Liabilities
Intangible assets and liabilities consisted of the following as of (in thousands):
 
 
March 31, 2013
 
December 31, 2012
Intangible lease assets (included in Other assets):
 
 
 
 
Value of above market in-place leases, net
 
$
6,447

 
$
6,679

Value of in-place leases, net
 
36,735

 
37,889

Intangible lease liabilities (included in Other liabilities):
 
 
 
 
Value of below market in-place leases, net
 
22,851

 
23,708
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,
 
2013
 
2012
Basic and Diluted Earnings:
 
 
 
Net earnings attributable to NNN
$
34,066

 
$
29,832

Less: Series C preferred stock dividends
—

 
(1,979
)
Less: Series D preferred stock dividends
(4,762
)
 
—

Less: Excess of redemption value over carrying value of preferred shares redeemed
—

 
(3,098
)
Net earnings available to NNN’s common stockholders
29,304

 
24,755

Less: Earnings attributable to unvested restricted shares
(102
)
 
(566
)
Net earnings used in basic earnings per share
29,202

 
24,189

Reallocated undistributed loss
—

 
—

Net earnings used in diluted earnings per share
$
29,202

 
$
24,189

 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
Weighted average number of shares outstanding
114,126,832

 
105,635,630

Less: Unvested restricted stock
(385,258
)
 
(568,163
)
Less: Contingent shares
(250,473
)
 
(226,600
)
Weighted average number of shares outstanding used in basic
   earnings per share
113,491,101

 
104,840,867

Effects of dilutive securities:
 
 
 
Contingent shares
—

 
25,471

Convertible notes payable
2,191,512

 
1,192,706

Common stock options
—

 
2,286

Directors’ deferred fee plan
167,640

 
150,036

Weighted average number of shares outstanding used in diluted
   earnings per share
115,850,253

 
106,211,366
Schedule of AOCI
The following outlines the changes in accumulated other comprehensive income (dollars in thousands):
 
Gain or Loss on Cash Flow Hedges (1)
 
Unrealized Gains and Losses on Commercial Mortgage Residual Interests (2)
 
Unrealized Gains and Losses on Available-for-Sale Securities
 
Total
 
Beginning balance, December 31, 2012
$
(5,693
)
 
$
3,244

 
$
67

 
$
(2,382
)
 
 
 
 
 
 
 
 
 
 
Other comprehensive income
(1,144
)
 
1,818

 
81

 
755

 
Reclassifications from accumulated other
  comprehensive income to net earnings
60

 
—

 
—

 
60

(3) 
Net current period other comprehensive income
(1,084
)
 
1,818

 
81

 
815

 
 
 
 
 
 
 
 
 
 
Ending balance, March 31, 2013
$
(6,777
)
 
$
5,062

 
$
148

 
$
(1,567
)
 
1) Additional disclosure is included in Note 12 - Derivatives.
2) Additional disclosure is included in Note 6 - Commercial Mortgage Residual Interests.
3) Reclassifications out of other comprehensive income are recorded in Interest Expense on the Condensed Consolidated Statements of Comprehensive Income. There is no income tax expense (benefit) resulting from this reclassification.