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Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [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 are primarily held for investment ("Properties" or "Property Portfolio," or individually a "Property").
| December 31, 2017
Property Portfolio: |
Total properties | 2,764 |
Gross leasable area (square feet) | 29,093,000 |
States | 48 |
Weighted average remaining lease term (years) | 11.5 |
Schedule of Intangible Assets and Related Amortization | Intangible assets and liabilities consisted of the following as of December 31 (dollars in thousands):
|  | 2017 |  | 2016
Intangible lease assets (included in Other assets): |  |  |  |
Above-market in-place leases |  | $ | 16,583 |  |  | $ | 18,352 |
Less: accumulated amortization |  | (9,299 | ) |  | (8,761 | )
Above market in-place leases, net |  | $ | 7,284 |  |  | $ | 9,591 |
In-place leases |  | $ | 104,592 |  |  | $ | 112,951 |
Less: accumulated amortization |  | (61,004 | ) |  | (57,661 | )
In-place leases, net |  | $ | 43,588 |  |  | $ | 55,290 |
Intangible lease liabilities (included in Other liabilities): |  |  |  |
Below-market in-place leases |  | $ | 44,468 |  |  | $ | 46,151 |
Less: accumulated amortization |  | (26,055 | ) |  | (24,051 | )
Below market in-place leases, net |  | $ | 18,413 |  |  | $ | 22,100 |
Schedule of Amortization for Finite-lived Intangible Assets | The following is a schedule of the amortization of acquired above-market and below-market in-place lease intangibles and the amortization of the in-place lease intangibles at December 31, 2017 (dollars in thousands):
| Net Increase to Rental Income |  | Increase To Amortization Expense
2018 | $ | 1,412 |  |  | $ | 8,249 |
2019 | 684 |  |  | 5,976 |
2020 | 609 |  |  | 5,220 |
2021 | 489 |  |  | 4,494 |
2022 | 363 |  |  | 4,024 |
Thereafter | 7,572 |  |  | 15,625 |
Weighted average amortization period (years) | 17.9 |  |  | 9.6 |
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 for the years ended December 31 (dollars in thousands):
| 2017 |  | 2016 |  | 2015
Basic and Diluted Earnings: |  |  |  |  |
Net earnings attributable to NNN | $ | 264,973 |  |  | $ | 239,500 |  |  | $ | 197,836 |
Less: Series D preferred stock dividends | (3,598 | ) |  | (19,047 | ) |  | (19,047 | )
Less: Series E preferred stock dividends | (16,387 | ) |  | (16,387 | ) |  | (16,387 | )
Less: Series F preferred stock dividends | (17,940 | ) |  | (3,189 | ) |  | — |
Less: Excess of redemption value over carrying value of Series D preferred shares redeemed | (9,855 | ) |  | — |  |  | — |
Net earnings attributable to common stockholders | 217,193 |  |  | 200,877 |  |  | 162,402 |
Less: Earnings attributable to unvested restricted shares | (531 | ) |  | (695 | ) |  | (706 | )
Net earnings used in basic and diluted earnings per share | $ | 216,662 |  |  | $ | 200,182 |  |  | $ | 161,696 |
Basic and Diluted Weighted Average Shares Outstanding: |  |  |  |  |
Weighted average number of shares outstanding | 149,840,116 |  |  | 145,014,422 |  |  | 134,868,640 |
Less: Unvested restricted shares | (285,585 | ) |  | (390,522 | ) |  | (412,505 | )
Less: Unvested contingent restricted shares | (443,343 | ) |  | (447,676 | ) |  | (457,461 | )
Weighted average number of shares outstanding used in basic earnings per share | 149,111,188 |  |  | 144,176,224 |  |  | 133,998,674 |
Effects of dilutive securities: |  |  |  |  |
Other | 321,453 |  |  | 484,409 |  |  | 490,742 |
Weighted average number of shares outstanding used in diluted earnings per share | 149,432,641 |  |  | 144,660,633 |  |  | 134,489,416 |
Changes in accumulated other comprehensive income | The following table outlines the changes in accumulated other comprehensive income (loss) (dollars in thousands):
| Gain or Loss on Cash Flow Hedges(1) |  | Gains and Losses on Commercial Mortgage Residual Interests |  | Gains and Losses on Available-for-Sale Securities |  | Total |
Beginning balance, December 31, 2015 | $ | (25,046 | ) |  | $ | 4,454 |  |  | $ | 240 |  |  | $ | (20,352 | ) |
Other comprehensive income (loss) | 13,345 |  |  | (182 | ) |  | 468 |  |  | 13,631 |  |
Reclassifications from accumulated other comprehensive income to net earnings | 2,802 |  | (2) | (4,272 | ) | (3) | — |  |  | (1,470 | ) |
Net current period other comprehensive income (loss) | 16,147 |  |  | (4,454 | ) |  | 468 |  |  | 12,161 |  |
Ending balance, December 31, 2016 | (8,899 | ) |  | — |  |  | 708 |  |  | (8,191 | ) |
Other comprehensive income (loss) | (7,688 | ) |  | — |  |  | 209 |  |  | (7,479 | ) |
Reclassifications from accumulated other comprehensive income to net earnings | 1,932 |  | (2) | — |  |  | — |  |  | 1,932 |  |
Net current period other comprehensive income (loss) | (5,756 | ) |  | — |  |  | 209 |  |  | (5,547 | ) |
Ending balance, December 31, 2017 | $ | (14,655 | ) |  | $ | — |  |  | $ | 917 |  |  | $ | (13,738 | ) |
(1) Additional disclosure is included in Note 12 – Derivatives. (2) Reclassifications out of other comprehensive income (loss) are recorded in Interest Expense on the Consolidated Statements of Income and Comprehensive Income. There is no income tax expense (benefit) resulting from this reclassification. (3) Reclassifications out of other comprehensive income (loss) are recorded in Impairment on the Consolidated Statements of Income and Comprehensive Income. There is no income tax expense (benefit) resulting from this reclassification.

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