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Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended
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Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] |
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE | NATIONAL RETAIL PROPERTIES, INC. AND SUBSIDIARIES SCHEDU LE IV - MORTGAGE LOANS ON REAL ESTATE December 31, 2021 (dollars in thousands)
Description |  | Interest Rate |  | Maturity Date |  | Periodic Payment Terms |  | Prior Liens |  |  | Face Amount of Mortgages |  |  | Carrying Amount of Mortgages(c) |  |  | Principal Amount of Loans Subject to Delinquent Principal or Interest |
First mortgages on properties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2 properties in VA |  | 7.000% |  | 3/1/2025 |  | (b) |  |  | — |  |  | $ | 3,000 |  |  | $ | 2,011 |  |  | $ | — |
|  |  |  |  |  |  |  |  |  |  | $ | 3,000 |  |  | $ | 2,011 |  | (a) | $ | — |
(a) The following shows the changes in the carrying amounts of mortgage loans during the years ended December 31:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Beginning balance, January 1 |  | $ | 2,468 |  |  | $ | — |  |  | $ | — |
New mortgage loans(d) |  |  | — |  |  |  | 3,000 |  |  |  | 3,100 |
Deductions during the year: |  |  |  |  |  |  |  |  |
Collections of principal |  |  | (486 | ) |  |  | (374 | ) |  |  | (3,100 | )
Other: credit (losses) recoveries(e) |  |  | 29 |  |  |  | (158 | ) |  |  | — |
Foreclosures |  |  | — |  |  |  | — |  |  |  | — |
Ending balance, December 31 |  | $ | 2,011 |  |  | $ | 2,468 |  |  | $ | — |
(b) Principal and interest is payable at varying amounts over the life of the loan. (c) Mortgages held by NNN and its subsidiaries for federal income tax purposes for the year ended December 31, 2021 and 2020 were $2,011 and $2,468, respectively. There were no mortgages outstanding at December 31, 2019. (d) Mortgages totaling $3,000 and $3,100, were accepted in connection with real estate transactions for the year ended December 31, 2020 and 2019, respectively. (e) In accordance with FASB ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326),” NNN recorded an allowance for an estimated expected lifetime credit loss on its mortgage receivables based on the fair value of the collateral and the historical collectability trend analysis over 15 years.

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- Definition The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding three percent of carrying amount of mortgage. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 29 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 948 -SubTopic 310 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -URI http://asc.fasb.org/extlink&oid=120402547&loc=d3e617274-123014 + Details
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