XML 66 R31.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
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, 2019
Property Portfolio: |
Total properties | 3,118 |
Gross leasable area (square feet) | 32,460,000 |
States | 48 |
Weighted average remaining lease term (years) | 11.2 |
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):
| 2019 |  | 2018 |  | 2017
Basic and Diluted Earnings: |  |  |  |  |
Net earnings attributable to NNN | $ | 299,180 |  |  | $ | 292,447 |  |  | $ | 264,973 |
Less: Series D preferred stock dividends | — |  |  | — |  |  | (3,598 | )
Less: Series E preferred stock dividends | (13,201 | ) |  | (16,387 | ) |  | (16,387 | )
Less: Series F preferred stock dividends | (17,940 | ) |  | (17,940 | ) |  | (17,940 | )
Less: Excess of redemption value over carrying value of preferred shares redeemed | (9,856 | ) |  | — |  |  | (9,855 | )
Net earnings available to common stockholders | 258,183 |  |  | 258,120 |  |  | 217,193 |
Less: Earnings allocated to unvested restricted shares | (601 | ) |  | (548 | ) |  | (531 | )
Net earnings used in basic and diluted earnings per share | $ | 257,582 |  |  | $ | 257,572 |  |  | $ | 216,662 |
Basic and Diluted Weighted Average Shares Outstanding: |  |  |  |  |
Weighted average number of shares outstanding | 165,499,707 |  |  | 156,490,901 |  |  | 149,840,116 |
Less: Unvested restricted shares | (295,773 | ) |  | (280,633 | ) |  | (285,585 | )
Less: Unvested contingent restricted shares | (515,436 | ) |  | (465,667 | ) |  | (443,343 | )
Weighted average number of shares outstanding used in basic earnings per share | 164,688,498 |  |  | 155,744,601 |  |  | 149,111,188 |
Other dilutive securities | 395,181 |  |  | 551,018 |  |  | 321,453 |
Weighted average number of shares outstanding used in diluted earnings per share | 165,083,679 |  |  | 156,295,619 |  |  | 149,432,641 |
Changes in Accumulated Other Comprehensive Income (Loss) | 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 Available-for-Sale Securities |  | Total
Beginning balance, December 31, 2017 | $ | (14,655 | ) |  | $ | 917 |  |  | $ | (13,738 | )
Other comprehensive income | 4,080 |  |  | 298 |  |  | 4,378 |
Reclassifications from accumulated other comprehensive income to net earnings | 3,664 |  | (2) | — |  |  | 3,664 |
Net current period other comprehensive income | 7,744 |  |  | 298 |  |  | 8,042 |
Ending balance, December 31, 2018 | (6,911 | ) |  | 1,215 |  |  | (5,696 | )
Other comprehensive income (loss) | (5,524 | ) |  | 116 |  |  | (5,408 | )
Reclassifications from accumulated other comprehensive income to net earnings | 1,307 |  | (2) | (1,331 | ) |  | (24 | )
Net current period other comprehensive income (loss) | (4,217 | ) |  | (1,215 | ) |  | (5,432 | )
Ending balance, December 31, 2019 | $ | (11,128 | ) |  | $ | — |  |  | $ | (11,128 | )
(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.

X
- Definition Represents the calculation of the numerator and denominator used in basic and diluted earnings per share calculation. + References No definition available. + Details
Name: | nnn_ScheduleOfComputationOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | nnn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of number of Investment Property Holdings and gross leasable area and number of states located + References No definition available. + Details
Name: | nnn_ScheduleOfInvestmentPropertiesTableTextBlock
Namespace Prefix: | nnn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669686-108580 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration