$NNN
NNN REIT, INC.

2013 Q1 Form 10-Q Financial Statement

#000075136413000013 Filed on May 02, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $92.47M $77.39M
YoY Change 19.49% 25.77%
Cost Of Revenue $4.000M $15.60M
YoY Change -74.36% 24.8%
Gross Profit $88.50M $72.90M
YoY Change 21.4% 26.12%
Gross Profit Margin 95.71% 94.2%
Selling, General & Admin $8.300M $7.600M
YoY Change 9.21% 13.43%
% of Gross Profit 9.38% 10.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.81M $18.26M
YoY Change 30.35% 33.6%
% of Gross Profit 26.9% 25.05%
Operating Expenses $38.80M $29.98M
YoY Change 29.4% 25.62%
Operating Profit $53.67M $47.57M
YoY Change 12.83% 26.3%
Interest Expense $21.96M $19.82M
YoY Change 10.81% 12.21%
% of Operating Profit 40.92% 41.66%
Other Income/Expense, Net -$21.63M -$19.46M
YoY Change 11.13% 12.36%
Pretax Income $32.04M $28.11M
YoY Change 14.0% 38.18%
Income Tax -$830.0K $115.0K
% Of Pretax Income -2.59% 0.41%
Net Earnings $34.07M $29.83M
YoY Change 14.19% 43.29%
Net Earnings / Revenue 36.84% 38.55%
Basic Earnings Per Share $0.26 $0.23
Diluted Earnings Per Share $0.25 $0.23
COMMON SHARES
Basic Shares Outstanding 113.5M shares 104.8M shares
Diluted Shares Outstanding 115.9M shares 106.2M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.400M $3.000M
YoY Change 13.33% 15.38%
Cash & Equivalents $3.442M $3.033M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $3.300M $1.600M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.700M $4.600M
YoY Change 45.65% -87.43%
LONG-TERM ASSETS
Property, Plant & Equipment $3.824B $3.419B
YoY Change 11.84% 31.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $13.70M $19.30M
YoY Change -29.02% -7.66%
Other Assets $35.40M $53.00M
YoY Change -33.21% 546.34%
Total Long-Term Assets $3.995B $3.608B
YoY Change 10.73% 32.79%
TOTAL ASSETS
Total Short-Term Assets $6.700M $4.600M
Total Long-Term Assets $3.995B $3.608B
Total Assets $4.002B $3.613B
YoY Change 10.78% 31.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $28.10M $21.90M
YoY Change 28.31% 15.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $28.10M $21.90M
YoY Change 28.31% 15.26%
LONG-TERM LIABILITIES
Long-Term Debt $1.458B $1.301B
YoY Change 12.08% 12.29%
Other Long-Term Liabilities $73.20M $73.90M
YoY Change -0.95% 87.09%
Total Long-Term Liabilities $1.531B $1.375B
YoY Change 11.38% 14.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.10M $21.90M
Total Long-Term Liabilities $1.531B $1.375B
Total Liabilities $1.559B $1.396B
YoY Change 11.65% 14.63%
SHAREHOLDERS EQUITY
Retained Earnings -$106.0M -$60.62M
YoY Change 74.8%
Common Stock $1.171M $1.067M
YoY Change 9.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.442B $2.215B
YoY Change
Total Liabilities & Shareholders Equity $4.002B $3.613B
YoY Change 10.78% 31.19%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $34.07M $29.83M
YoY Change 14.19% 43.29%
Depreciation, Depletion And Amortization $23.81M $18.26M
YoY Change 30.35% 33.6%
Cash From Operating Activities $68.82M $50.60M
YoY Change 36.01% 3.55%
INVESTING ACTIVITIES
Capital Expenditures -$51.40M -$191.7M
YoY Change -73.19% 223.27%
Acquisitions
YoY Change
Other Investing Activities $93.00K $139.0K
YoY Change -33.09% -130.02%
Cash From Investing Activities -$46.55M -$190.7M
YoY Change -75.59% 229.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $166.1M $37.55M
YoY Change 342.26% 87.52%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$20.91M $141.0M
YoY Change -114.82% 1371.04%
NET CHANGE
Cash From Operating Activities $68.82M $50.60M
Cash From Investing Activities -$46.55M -$190.7M
Cash From Financing Activities -$20.91M $141.0M
Net Change In Cash $1.366M $951.0K
YoY Change 43.64% 86.84%
FREE CASH FLOW
Cash From Operating Activities $68.82M $50.60M
Capital Expenditures -$51.40M -$191.7M
Free Cash Flow $120.2M $242.3M
YoY Change -50.38% 124.01%

Facts In Submission

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CY2013Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
440600000 USD
CY2013Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
26884000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
27770000 USD
CY2013Q1 us-gaap Minority Interest
MinorityInterest
1137000 USD
CY2012Q4 us-gaap Minority Interest
MinorityInterest
1300000 USD
CY2012Q1 us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
0 USD
CY2013Q1 us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
14000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-20905000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
141029000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46552000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-190678000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
68823000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
50600000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
34066000 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
29832000 USD
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-163000 USD
CY2012Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-8000 USD
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
29304000 USD
CY2012Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24755000 USD
CY2012Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
24189000 USD
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
29202000 USD
CY2012Q4 us-gaap Net Investment In Direct Financing And Sales Type Leases
NetInvestmentInDirectFinancingAndSalesTypeLeases
23217000 USD
CY2013Q1 us-gaap Net Investment In Direct Financing And Sales Type Leases
NetInvestmentInDirectFinancingAndSalesTypeLeases
22817000 USD
CY2013Q1 us-gaap Notes Payable
NotesPayable
1165897000 USD
CY2012Q4 us-gaap Notes Payable
NotesPayable
1165662000 USD
CY2013Q1 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
1614028000 USD
CY2012Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
1585756000 USD
CY2013Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
47 states
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
29980000 USD
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
37785000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
54780000 USD
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
47567000 USD
CY2013Q1 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
87661000 USD
CY2012Q1 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
72335000 USD
CY2013Q1 us-gaap Other Assets
OtherAssets
68624000 USD
CY2012Q4 us-gaap Other Assets
OtherAssets
68926000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
815000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-949000 USD
CY2012Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2012Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
0 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1144000 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
869000 USD
CY2012Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2013Q1 us-gaap Other Income
OtherIncome
606000 USD
CY2012Q1 us-gaap Other Income
OtherIncome
755000 USD
CY2012Q4 us-gaap Other Liabilities
OtherLiabilities
85950000 USD
CY2013Q1 us-gaap Other Liabilities
OtherLiabilities
73191000 USD
CY2012Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-19460000 USD
CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-21493000 USD
CY2012Q1 us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
615000 USD
CY2013Q1 us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
255000 USD
CY2012Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
139000 USD
CY2013Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
93000 USD
CY2012Q1 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
92000000 USD
CY2013Q1 us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
0 USD
CY2012Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
40432000 USD
CY2013Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
44321000 USD
CY2013Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2264000 USD
CY2012Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
9922000 USD
CY2013Q1 us-gaap Payments To Acquire Held For Sale Real Estate
PaymentsToAcquireHeldForSaleRealEstate
1029000 USD
CY2012Q1 us-gaap Payments To Acquire Held For Sale Real Estate
PaymentsToAcquireHeldForSaleRealEstate
4385000 USD
CY2012Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
3935000 USD
CY2013Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
739000 USD
CY2012Q1 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
191745000 USD
CY2013Q1 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
51431000 USD
CY2013Q1 us-gaap Percentage Rent
PercentageRent
371000 USD
CY2012Q1 us-gaap Percentage Rent
PercentageRent
111000 USD
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000 shares
CY2013Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
15000000 shares
CY2013Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Reclassification</font><font style="font-family:inherit;font-size:10pt;"> &#8211; Certain items in the prior year&#8217;s consolidated financial statements and notes to consolidated financial statements have been reclassified to conform to the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;"> presentation.</font></div></div>
CY2013Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1339000 USD
CY2012Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
563000 USD
CY2013Q1 us-gaap Proceeds From Collection Of Retained Interest In Securitized Receivables Categorized As Available For Sale
ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivablesCategorizedAsAvailableForSale
852000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
166067000 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37550000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
287500000 USD
CY2013Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
186500000 USD
CY2012Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
242400000 USD
CY2012Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
5193000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
4627000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
33903000 USD
CY2012Q1 us-gaap Profit Loss
ProfitLoss
29824000 USD
CY2013Q1 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation
350868000 USD
CY2012Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation
332172000 USD
CY2013Q1 us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
0 USD
CY2012Q1 us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
490000 USD
CY2013Q1 nnn Accumulated Impairment Real Estate Held For Sale
AccumulatedImpairmentRealEstateHeldForSale
5163000 USD
CY2012Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
29267000 USD
CY2013Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
30274000 USD
CY2013Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3801517000 USD
CY2012Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3788053000 USD
CY2012Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
CY2013Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
20565000 USD
CY2013Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
301300000 USD
CY2012Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
281800000 USD
CY2012Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
288000 USD
CY2013Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
260000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-90952000 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-105969000 USD
CY2013Q1 us-gaap Revenues
Revenues
92565000 USD
CY2012Q1 us-gaap Revenues
Revenues
77385000 USD
CY2013Q1 nnn Allowance Rental Income
AllowanceRentalIncome
3154000 USD
CY2012Q4 nnn Allowance Rental Income
AllowanceRentalIncome
3270000 USD
CY2012Q1 nnn Amortization Of Interest Rate Hedges
AmortizationOfInterestRateHedges
56000 USD
CY2013Q1 nnn Amortization Of Interest Rate Hedges
AmortizationOfInterestRateHedges
60000 USD
CY2013Q1 nnn Change In Lease Classification
ChangeInLeaseClassification
0 USD
CY2012Q1 nnn Change In Lease Classification
ChangeInLeaseClassification
757000 USD
CY2013Q1 nnn Convertible Notes Payable Unamortized Discount
ConvertibleNotesPayableUnamortizedDiscount
951000 USD
CY2012Q4 us-gaap Secured Debt
SecuredDebt
10602000 USD
CY2013Q1 us-gaap Secured Debt
SecuredDebt
10328000 USD
CY2013Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
0 USD
CY2012Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
3098000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
2296285000 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
2441623000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2442760000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2297585000 USD
CY2012Q1 us-gaap Straight Line Rent
StraightLineRent
537000 USD
CY2013Q1 us-gaap Straight Line Rent
StraightLineRent
727000 USD
CY2012Q1 us-gaap Tenant Reimbursements
TenantReimbursements
2849000 USD
CY2013Q1 us-gaap Tenant Reimbursements
TenantReimbursements
2977000 USD
CY2013Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of Estimates</font><font style="font-family:inherit;font-size:10pt;"> &#8211; Management of NNN has made a number of estimates and assumptions relating to the reporting of assets and liabilities, revenues and expenses and the disclosure of contingent assets and liabilities to prepare these consolidated financial statements in conformity with GAAP. Significant estimates include provisions for impairment and allowances for certain assets, accruals, useful lives of assets and purchase price allocation. Actual results could differ from those estimates.</font></div></div>
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106211366 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115850253 shares
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
114126832 shares
CY2012Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
105635630 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113491101 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104840867 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
568163 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
385258 shares
CY2012Q4 nnn Accumulated Impairment Real Estate Held For Sale
AccumulatedImpairmentRealEstateHeldForSale
4124000 USD
CY2012Q4 nnn Convertible Notes Payable Unamortized Discount
ConvertibleNotesPayableUnamortizedDiscount
2072000 USD
CY2013Q1 nnn Debt Instrument Maturity Date Option To Extend
DebtInstrumentMaturityDateOptionToExtend
2017-10-01
CY2013Q1 nnn Discount Rate Valuation Adjustment
DiscountRateValuationAdjustment
0.25
CY2012 nnn Discount Rate Valuation Adjustment
DiscountRateValuationAdjustment
0.25
CY2012Q1 nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
566000 USD
CY2013Q1 nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
102000 USD
CY2012Q1 nnn Effects Of Dilutive Securities Directors Deferred Fee Plan
EffectsOfDilutiveSecuritiesDirectorsDeferredFeePlan
150036 shares
CY2013Q1 nnn Effects Of Dilutive Securities Directors Deferred Fee Plan
EffectsOfDilutiveSecuritiesDirectorsDeferredFeePlan
167640 shares
CY2013Q1 nnn Excess Stock
ExcessStock
0 USD
CY2012Q4 nnn Excess Stock
ExcessStock
0 USD
CY2013Q1 nnn Excess Stock Par Or Stated Value Per Share
ExcessStockParOrStatedValuePerShare
0.01
CY2012Q4 nnn Excess Stock Par Or Stated Value Per Share
ExcessStockParOrStatedValuePerShare
0.01
CY2012Q1 nnn Impairment Losses And Other Charges
ImpairmentLossesAndOtherCharges
7000 USD
CY2013Q1 nnn Impairment Losses And Other Charges
ImpairmentLossesAndOtherCharges
2851000 USD
CY2013Q1 nnn Impairment Losses And Other Charges Continuing Operations
ImpairmentLossesAndOtherChargesContinuingOperations
1812000 USD
CY2012Q1 nnn Impairment Losses And Other Charges Continuing Operations
ImpairmentLossesAndOtherChargesContinuingOperations
35000 USD
CY2012Q1 nnn Increase Decrease In Development In Process
IncreaseDecreaseInDevelopmentInProcess
430000 USD
CY2013Q1 nnn Increase Decrease In Development In Process
IncreaseDecreaseInDevelopmentInProcess
340000 USD
CY2013Q1 nnn Increase Decrease In Direct Financing And Sales Type Leases
IncreaseDecreaseInDirectFinancingAndSalesTypeLeases
-400000 USD
CY2012Q1 nnn Increase Decrease In Direct Financing And Sales Type Leases
IncreaseDecreaseInDirectFinancingAndSalesTypeLeases
-402000 USD
CY2013Q1 nnn Incremental Common Shares Attributable To Contingently Issuable Shares Diluted
IncrementalCommonSharesAttributableToContingentlyIssuableSharesDiluted
0 shares
CY2012Q1 nnn Incremental Common Shares Attributable To Contingently Issuable Shares Diluted
IncrementalCommonSharesAttributableToContingentlyIssuableSharesDiluted
25471 shares
CY2013Q1 nnn Inventory Building Held For Sale
InventoryBuildingHeldForSale
17853000 USD
CY2012Q4 nnn Inventory Building Held For Sale
InventoryBuildingHeldForSale
17776000 USD
CY2013Q1 nnn Investment Properties Total
InvestmentPropertiesTotal
1636 properties
CY2013Q1 nnn Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Shares
IssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanShares
3227 shares
CY2012Q1 nnn Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Shares
IssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanShares
5317 shares
CY2012Q1 nnn Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Shares
IssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanShares
4122 shares
CY2013Q1 nnn Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Shares
IssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanShares
4292 shares
CY2012Q1 nnn Issued Shares Of Restricted And Unrestricted Common Stock Shares
IssuedSharesOfRestrictedAndUnrestrictedCommonStockShares
396577 shares
CY2013Q1 nnn Issued Shares Of Restricted And Unrestricted Common Stock Shares
IssuedSharesOfRestrictedAndUnrestrictedCommonStockShares
298896 shares
CY2013Q1 nnn Libor Yield
LiborYield
Forward 3-month curve
CY2012 nnn Libor Yield
LiborYield
Forward 3-month curve
CY2013Q1 nnn Line Of Credit Facilities Table Block
LineOfCreditFacilitiesTableBlock
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Line of Credit Payable</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">:</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NNN's </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$500,000,000</font><font style="font-family:inherit;font-size:10pt;"> revolving credit facility (the &#8220;Credit Facility&#8221;) had a weighted average outstanding balance of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$127,198,000</font><font style="font-family:inherit;font-size:10pt;"> and a weighted average interest rate of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.4%</font><font style="font-family:inherit;font-size:10pt;"> during the quarter ended March 31, 2013. The Credit Facility matures </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">October 2016</font><font style="font-family:inherit;font-size:10pt;">, unless the Company exercises its option to extend maturity to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">October 2017</font><font style="font-family:inherit;font-size:10pt;">. The Credit Facility bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">117.5</font><font style="font-family:inherit;font-size:10pt;"> basis points; however, such interest rate may change pursuant to a tiered interest rate structure based on NNN's debt rating. The Credit Facility also includes an accordion feature to increase the facility size up to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1,000,000,000</font><font style="font-family:inherit;font-size:10pt;">, subject to lender approval. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$59,400,000</font><font style="font-family:inherit;font-size:10pt;"> was outstanding and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$440,600,000</font><font style="font-family:inherit;font-size:10pt;"> was available for future borrowings under the Credit Facility.</font></div></div>
CY2013Q1 nnn Line Of Credit Facility Option To Increase Facility Size Through Accordion Feature
LineOfCreditFacilityOptionToIncreaseFacilitySizeThroughAccordionFeature
1000000000 USD
CY2013Q1 nnn Loss Severity Of Loans In Foreclosure
LossSeverityOfLoansInForeclosure
0.2
CY2012 nnn Loss Severity Of Loans In Foreclosure
LossSeverityOfLoansInForeclosure
0.2
CY2012Q4 nnn Net Carrying Amount Of Convertible Debt
NetCarryingAmountOfConvertibleDebt
214307000 USD
CY2013Q1 nnn Net Carrying Amount Of Convertible Debt
NetCarryingAmountOfConvertibleDebt
201364000 USD
CY2012Q1 nnn Net Earnings Used In Basic Earnings Per Share
NetEarningsUsedInBasicEarningsPerShare
24189000 USD
CY2013Q1 nnn Net Earnings Used In Basic Earnings Per Share
NetEarningsUsedInBasicEarningsPerShare
29202000 USD
CY2012Q1 nnn Number Of Disposed Properties Discontinued Operations
NumberOfDisposedPropertiesDiscontinuedOperations
3 properties
CY2013Q1 nnn Number Of Disposed Properties Discontinued Operations
NumberOfDisposedPropertiesDiscontinuedOperations
2 properties
CY2012Q4 nnn Number Of Improved Properties Held For Sale
NumberOfImprovedPropertiesHeldForSale
16 properties
CY2013Q1 nnn Number Of Improved Properties Held For Sale
NumberOfImprovedPropertiesHeldForSale
10 properties
CY2012Q4 nnn Number Of Land Parcels Held For Sale
NumberOfLandParcelsHeldForSale
7 properties
CY2013Q1 nnn Number Of Land Parcels Held For Sale
NumberOfLandParcelsHeldForSale
3 properties
CY2012Q4 nnn Number Of Properties Classified As Held For Sale
NumberOfPropertiesClassifiedAsHeldForSale
23 properties
CY2013Q1 nnn Number Of Properties Classified As Held For Sale
NumberOfPropertiesClassifiedAsHeldForSale
13 properties
CY2013Q1 nnn Number Of Real Estate Held For Sale Reclassified To Held For Investment
NumberOfRealEstateHeldForSaleReclassifiedToHeldForInvestment
15 properties
CY2013Q1 nnn Number Of Securitizations
NumberOfSecuritizations
7 securitizations
CY2013Q1 nnn Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
755000 USD
CY2013Q1 nnn Other Comprehensive Income Unrealized Holding Gain Loss On Residual Interest Of Securitization Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnResidualInterestOfSecuritizationArisingDuringPeriodNetOfTax
869000 USD
CY2012Q1 nnn Other Comprehensive Income Unrealized Holding Gain Loss On Residual Interest Of Securitization Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnResidualInterestOfSecuritizationArisingDuringPeriodNetOfTax
0 USD
CY2013Q1 nnn Performance Incentive Plan Expense
PerformanceIncentivePlanExpense
2310000 USD
CY2012Q1 nnn Performance Incentive Plan Expense
PerformanceIncentivePlanExpense
2257000 USD
CY2013Q1 nnn Performance Incentive Plan Payment
PerformanceIncentivePlanPayment
2139000 USD
CY2012Q1 nnn Performance Incentive Plan Payment
PerformanceIncentivePlanPayment
0 USD
CY2013Q1 nnn Real Estate Funding Commitments
RealEstateFundingCommitments
150324000 USD
CY2013Q1 nnn Real Estate Funding Commitments Amount Funded
RealEstateFundingCommitmentsAmountFunded
113334000 USD
CY2013Q1 nnn Real Estate Funding Commitments Number Of Properties
RealEstateFundingCommitmentsNumberOfProperties
49 properties
CY2013Q1 nnn Real Estate Funding Commitments Remaining Commitment
RealEstateFundingCommitmentsRemainingCommitment
36990000 USD
CY2013Q1 nnn Real Estate Held For Sale Funding Commitments
RealEstateHeldForSaleFundingCommitments
1662000 USD
CY2013Q1 nnn Real Estate Held For Sale Funding Commitments Amount Funded
RealEstateHeldForSaleFundingCommitmentsAmountFunded
947000 USD
CY2013Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q1 nnn Real Estate Held For Sale Funding Commitments Number Of Properties
RealEstateHeldForSaleFundingCommitmentsNumberOfProperties
2 properties
CY2013Q1 nnn Real Estate Held For Sale Funding Commitments Remaining Commitment
RealEstateHeldForSaleFundingCommitmentsRemainingCommitment
715000 USD
CY2013Q1 nnn Real Estate Investment Funding Commitments
RealEstateInvestmentFundingCommitments
148662000 USD
CY2013Q1 nnn Real Estate Investment Funding Commitments Amount Funded
RealEstateInvestmentFundingCommitmentsAmountFunded
112387000 USD
CY2013Q1 nnn Real Estate Investment Funding Commitments Number Of Properties
RealEstateInvestmentFundingCommitmentsNumberOfProperties
47 properties
CY2013Q1 nnn Real Estate Investment Funding Commitments Remaining Commitment
RealEstateInvestmentFundingCommitmentsRemainingCommitment
36275000 USD
CY2013Q1 nnn Real Estate Subject To Operating Leases Before Work In Process
RealEstateSubjectToOperatingLeasesBeforeWorkInProcess
3724627000 USD
CY2012Q4 nnn Real Estate Subject To Operating Leases Before Work In Process
RealEstateSubjectToOperatingLeasesBeforeWorkInProcess
3701546000 USD
CY2012Q4 nnn Real Estate Subject To Operating Leases Gross
RealEstateSubjectToOperatingLeasesGross
4033718000 USD
CY2013Q1 nnn Real Estate Subject To Operating Leases Gross
RealEstateSubjectToOperatingLeasesGross
4075495000 USD
CY2013Q1 nnn Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-60000 USD
CY2013Q1 nnn Retail Operations Operating Expenses
RetailOperationsOperatingExpenses
0 USD
CY2012Q1 nnn Retail Operations Operating Expenses
RetailOperationsOperatingExpenses
11062000 USD
CY2013Q1 nnn Retail Operations Operating Income Loss
RetailOperationsOperatingIncomeLoss
0 USD
CY2012Q1 nnn Retail Operations Operating Income Loss
RetailOperationsOperatingIncomeLoss
162000 USD
CY2012Q1 nnn Retail Operations Revenues
RetailOperationsRevenues
11224000 USD
CY2013Q1 nnn Retail Operations Revenues
RetailOperationsRevenues
0 USD
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000751364
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
NATIONAL RETAIL PROPERTIES, INC.
CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
118364858 shares
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 nnn Stock Authorized Shares Employee Dividend Reinvestment And Stock Purchase Plan
StockAuthorizedSharesEmployeeDividendReinvestmentAndStockPurchasePlan
16000000 shares
CY2012Q1 nnn Stock Value Adjustment
StockValueAdjustment
1000 USD
CY2013Q1 nnn Stock Value Adjustment
StockValueAdjustment
-81000 USD
CY2013Q1 nnn Supplemental Change In Other Comprehensive Income
SupplementalChangeInOtherComprehensiveIncome
815000 USD
CY2012Q1 nnn Supplemental Change In Other Comprehensive Income
SupplementalChangeInOtherComprehensiveIncome
55000 USD
CY2012Q1 nnn Supplemental Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Value
SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue
74000 USD
CY2013Q1 nnn Supplemental Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Value
SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue
38000 USD
CY2012Q1 nnn Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan For Directors Value
SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue
112000 USD
CY2013Q1 nnn Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan For Directors Value
SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue
137000 USD
CY2013Q1 nnn Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Value
SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue
7904000 USD
CY2012Q1 nnn Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Value
SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue
8576000 USD
CY2013Q1 nnn Weighted Average Remaining Lease Term Years
WeightedAverageRemainingLeaseTermYears
P12Y
CY2013Q1 nnn Yield Prime
YieldPrime
Forward curve
CY2012 nnn Yield Prime
YieldPrime
Forward curve
CY2013Q1 dei Amendment Flag
AmendmentFlag
false

Files In Submission

Name View Source Status
0000751364-13-000013-index-headers.html Edgar Link pending
0000751364-13-000013-index.html Edgar Link pending
0000751364-13-000013.txt Edgar Link pending
0000751364-13-000013-xbrl.zip Edgar Link pending
a20130331form10-q.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
nnn-20130331.xml Edgar Link completed
nnn-20130331.xsd Edgar Link pending
nnn-20130331xexhibit311.htm Edgar Link pending
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nnn-20130331xexhibit321.htm Edgar Link pending
nnn-20130331xexhibit322.htm Edgar Link pending
nnn-20130331_cal.xml Edgar Link unprocessable
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nnn-20130331_pre.xml Edgar Link unprocessable
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