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Organization And Summary Of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2012
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”).
| September 30, 2012
Property Portfolio: |
Total properties | 1,530 |
Gross leasable area (square feet) | 18,331,000 |
States | 47 |
Intangible Assets and Liabilities | Intangible assets and liabilities consisted of the following as of (in thousands):
|  | September 30, 2012 |  | December 31, 2011
Intangible lease assets (included in Other assets): |  |  |  |
Value of above market in-place leases, net |  | $ | 6,910 |  |  | $ | 5,907 |
Value of in-place leases, net |  | 38,525 |  |  | 31,970 |
Intangible lease liabilities (included in Other liabilities): |  |  |  |
Value of below market in-place leases, net |  | 24,515 |  |  | 23,367 |
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 September 30, |  | Nine Months Ended September 30,
| 2012 |  | 2011 |  | 2012 |  | 2011
Basic and Diluted Earnings: |  |  |  |  |  |  |
Net earnings attributable to NNN | $ | 38,015 |  |  | $ | 22,632 |  |  | $ | 101,353 |  |  | $ | 64,755 |
Less: Series C preferred stock dividends | — |  |  | (1,696 | ) |  | (1,979 | ) |  | (5,089 | )
Less: Series D preferred stock dividends | (4,762 | ) |  | — |  |  | (10,688 | ) |  | — |
Less: Excess of redemption value over carrying value of preferred shares redeemed | — |  |  | — |  |  | (3,098 | ) |  | — |
Net earnings available to NNN’s common stockholders | 33,253 |  |  | 20,936 |  |  | 85,588 |  |  | 59,666 |
Less: Earnings attributable to unvested restricted shares | (215 | ) |  | (160 | ) |  | (525 | ) |  | (442 | )
Net earnings used in basic earnings per share | 33,038 |  |  | 20,776 |  |  | 85,063 |  |  | 59,224 |
Reallocated undistributed loss | (1 | ) |  | (1 | ) |  | (4 | ) |  | (2 | )
Net earnings used in diluted earnings per share | $ | 33,037 |  |  | $ | 20,775 |  |  | $ | 85,059 |  |  | $ | 59,222 |
Basic and Diluted Weighted Average Shares Outstanding: |  |  |  |  |  |  |
Weighted average number of shares outstanding | 108,461,120 |  |  | 88,008,849 |  |  | 107,039,590 |  |  | 85,772,590 |
Less: Unvested restricted stock | (696,270 | ) |  | (647,617 | ) |  | (652,890 | ) |  | (623,818 | )
Less: Contingent shares | (276,915 | ) |  | (251,826 | ) |  | (246,698 | ) |  | (251,826 | )
Weighted average number of shares outstanding used in basic earnings per share | 107,487,935 |  |  | 87,109,406 |  |  | 106,140,002 |  |  | 84,896,946 |
Effects of dilutive securities: |  |  |  |  |  |  |
Contingent shares | — |  |  | — |  |  | 8,459 |  |  | — |
Convertible notes payable | 2,692,153 |  |  | 516,775 |  |  | 1,787,275 |  |  | 385,942 |
Common stock options | — |  |  | 2,669 |  |  | 1,287 |  |  | 3,093 |
Directors’ deferred fee plan | 159,617 |  |  | 159,400 |  |  | 154,886 |  |  | 152,889 |
Weighted average number of shares outstanding used in diluted earnings per share | 110,339,705 |  |  | 87,788,250 |  |  | 108,091,909 |  |  | 85,438,870 |

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