XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.20.2

Organization and Summary of Significant Accounting Policies (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
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, 2020
Property Portfolio: |
Total properties | 3,117 |
Gross leasable area (square feet) | 32,454,000 |
States | 48 |
Weighted average remaining lease term (years) | 10.9
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, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
Basic and Diluted Earnings: |  |  |  |  |  |  |
Net earnings attributable to NNN | $ | 46,265 |  |  | $ | 78,678 |  |  | $ | 111,443 |  |  | $ | 158,701 |
Less: Series E preferred stock dividends | — |  |  | (4,096) |  |  | — |  |  | (8,194) |
Less: Series F preferred stock dividends | (4,485) |  |  | (4,485) |  |  | (8,970) |  |  | (8,970) |
Net earnings available to NNN’s common stockholders | 41,780 |  |  | 70,097 |  |  | 102,473 |  |  | 141,537 |
Less: Earnings allocated to unvested restricted shares | (176) |  |  | (134) |  |  | (336) |  |  | (249) |
Net earnings used in basic and diluted earnings per share | $ | 41,604 |  |  | $ | 69,963 |  |  | $ | 102,137 |  |  | $ | 141,288 |
Basic and Diluted Weighted Average Shares Outstanding: |  |  |  |  |  |  |
Weighted average number of shares outstanding | 172,301,757 |  |  | 162,697,005 |  |  | 172,064,786 |  |  | 162,243,958 |
Less: Unvested restricted stock | (342,079) |  |  | (265,981) |  |  | (326,816) |  |  | (249,480) |
Less: Unvested contingent restricted shares | (570,809) |  |  | (537,582) |  |  | (524,027) |  |  | (492,923) |
Weighted average number of shares outstanding used in basic earnings per share | 171,388,869 |  |  | 161,893,442 |  |  | 171,213,943 |  |  | 161,501,555 |
Other dilutive securities | 96,416 |  |  | 458,459 |  |  | 159,873 |  |  | 493,779 |
Weighted average number of shares outstanding used in diluted earnings per share | 171,485,285 |  |  | 162,351,901 |  |  | 171,373,816 |  |  | 161,995,334 |
Changes in Accumulated Other Comprehensive Income (Loss) | The following table outlines the changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2020, (dollars in thousands):
| Gain (Loss) on Cash Flow Hedges (1) |  |  |  |  |  |
Beginning balance, December 31, 2019 | $ | (11,128) |  |  |  |  |  |  |
Other comprehensive income (loss) | (7,617) |  |  |  |  |  |  |
Reclassifications from accumulated other comprehensive income to net earnings | 1,021 |  | (2) |  |  |  |  |
Net other comprehensive income (loss) | (6,596) |  |  |  |  |  |  |
Ending balance, June 30, 2020 | $ | (17,724) |  |  |  |  |  |  |
(1) Additional disclosure is included in Note 6 – Derivatives. (2) Recorded in interest expense on the Condensed Consolidated Statements of Income and Comprehensive Income.

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_AccountingPoliciesAbstract
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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: 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=121641772&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration