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Organization and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2018
Accounting Policies [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 primarily held for investment ("Properties", "Property Portfolio", or individually a "Property").
 
June 30, 2018
Property Portfolio:
 
Total properties
2,846

Gross leasable area (square feet)
29,389,000

States
48

Weighted average remaining lease term (years)
11.5
Intangible Assets and Liabilities Intangible assets and liabilities consisted of the following as of (dollars in thousands):
 
 
June 30, 2018
 
December 31, 2017
Intangible lease assets (included in Other assets):
 
 
 
 
Above-market in-place leases
 
$
15,329

 
$
16,583

Less: accumulated amortization
 
(9,197
)
 
(9,299
)
Above-market in-place leases, net
 
$
6,132

 
$
7,284

 
 
 
 
 
In-place leases
 
$
101,887

 
$
104,592

Less: accumulated amortization
 
(60,070
)
 
(61,004
)
In-place leases, net
 
$
41,817

 
$
43,588

 
 
 
 
 
Intangible lease liabilities (included in Other liabilities):
 
 
 
 
Below-market in-place leases
 
$
41,912

 
$
44,468

Less: accumulated amortization
 
(25,151
)
 
(26,055
)
Below-market in-place leases, net
 
$
16,761

 
$
18,413
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 June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Basic and Diluted Earnings:
 
 
 
 
 
 
 
Net earnings attributable to NNN
$
70,573

 
$
58,028

 
$
173,854

 
$
131,685

Less: Series D preferred stock dividends
—

 
—

 
—

 
(3,598
)
Less: Series E preferred stock dividends
(4,096
)
 
(4,096
)
 
(8,194
)
 
(8,194
)
Less: Series F preferred stock dividends
(4,485
)
 
(4,485
)
 
(8,970
)
 
(8,970
)
Less: Excess of redemption value over carrying value of Series D preferred shares redeemed
—

 
—

 
—

 
(9,855
)
Net earnings available to NNN’s common stockholders
61,992

 
49,447

 
156,690

 
101,068

Less: Earnings allocated to unvested restricted shares
(141
)
 
(137
)
 
(273
)
 
(267
)
Net earnings used in basic and diluted earnings per share
$
61,851

 
$
49,310

 
$
156,417

 
$
100,801

 
 
 
 
 
 
 
 
Basic and Diluted Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
Weighted average number of shares outstanding
154,593,456

 
149,119,191

 
154,138,711

 
148,354,604

Less: Unvested restricted stock
(295,444
)
 
(301,206
)
 
(266,690
)
 
(293,588
)
Less: Unvested contingent restricted shares
(487,320
)
 
(445,484
)
 
(443,656
)
 
(405,940
)
Weighted average number of shares outstanding used in basic earnings per share
153,810,692

 
148,372,501

 
153,428,365

 
147,655,076

Other dilutive securities
393,246

 
346,969

 
411,854

 
368,592

Weighted average number of shares outstanding used in diluted earnings per share
154,203,938

 
148,719,470

 
153,840,219

 
148,023,668
Schedule of AOCI The following table outlines the changes in accumulated other comprehensive income (loss) (dollars in thousands):
 
Gains or (Losses) on Cash Flow Hedges (1)
 
Gains on Available-for-Sale Securities
 
Total
Beginning balance, December 31, 2017
$
(14,655
)
 
$
917

 
$
(13,738
)
 
 
 
 
 
 
Other comprehensive income
1,095

 
52

 
1,147

Reclassifications from accumulated other comprehensive income to net earnings
1,056

(2) 
—

 
1,056

Net current period other comprehensive income
2,151

 
52

 
2,203

Ending balance, June 30, 2018
$
(12,504
)
 
$
969

 
$
(11,535
)
(1) Additional disclosure is included in Note 5 – Derivatives.
(2) Reclassifications out of other comprehensive income (loss) are recorded in Interest expense on the Condensed Consolidated Statements of Income and Comprehensive Income.