2013 Q2 Form 10-Q Financial Statement

#000075136413000022 Filed on August 01, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $96.29M $81.21M
YoY Change 18.58% 31.26%
Cost Of Revenue $4.400M $30.50M
YoY Change -85.57% 94.27%
Gross Profit $91.90M $39.70M
YoY Change 131.49% -32.25%
Gross Profit Margin 95.44% 48.89%
Selling, General & Admin $9.400M $7.000M
YoY Change 34.29% 6.06%
% of Gross Profit 10.23% 17.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.60M $19.10M
YoY Change 18.32% 36.43%
% of Gross Profit 24.59% 48.11%
Operating Expenses $36.58M $32.29M
YoY Change 13.29% 31.7%
Operating Profit $59.71M $49.22M
YoY Change 21.32% 29.4%
Interest Expense $23.53M $19.57M
YoY Change 20.24% 11.75%
% of Operating Profit 39.4% 39.76%
Other Income/Expense, Net -$23.15M -$19.21M
YoY Change 20.53% 11.49%
Pretax Income $36.56M $30.01M
YoY Change 21.82% 44.24%
Income Tax $460.0K $156.0K
% Of Pretax Income 1.26% 0.52%
Net Earnings $37.49M $33.51M
YoY Change 11.88% 57.28%
Net Earnings / Revenue 38.93% 41.26%
Basic Earnings Per Share $0.28 $0.26
Diluted Earnings Per Share $0.27 $0.26
COMMON SHARES
Basic Shares Outstanding 117.8M shares 106.0M shares
Diluted Shares Outstanding 120.9M shares 107.5M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $236.9M $2.900M
YoY Change 8068.97% -19.44%
Cash & Equivalents $236.9M $2.907M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $3.400M $1.500M
Other Receivables $0.00 $0.00
Total Short-Term Assets $240.3M $4.400M
YoY Change 5361.36% -88.24%
LONG-TERM ASSETS
Property, Plant & Equipment $4.181B $3.511B
YoY Change 19.1% 33.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.20M $16.70M
YoY Change -14.97% -19.32%
Other Assets $60.90M $49.50M
YoY Change 23.03% 410.31%
Total Long-Term Assets $4.409B $3.700B
YoY Change 19.18% 33.98%
TOTAL ASSETS
Total Short-Term Assets $240.3M $4.400M
Total Long-Term Assets $4.409B $3.700B
Total Assets $4.649B $3.704B
YoY Change 25.52% 32.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $17.30M $14.40M
YoY Change 20.14% 97.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.30M $14.40M
YoY Change 20.14% 97.26%
LONG-TERM LIABILITIES
Long-Term Debt $1.747B $1.375B
YoY Change 27.05% 15.07%
Other Long-Term Liabilities $87.90M $87.50M
YoY Change 0.46% 116.58%
Total Long-Term Liabilities $1.835B $1.462B
YoY Change 25.46% 18.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.30M $14.40M
Total Long-Term Liabilities $1.835B $1.462B
Total Liabilities $1.852B $1.477B
YoY Change 25.41% 18.73%
SHAREHOLDERS EQUITY
Retained Earnings -$119.9M -$74.12M
YoY Change 61.71%
Common Stock $1.194M $1.076M
YoY Change 10.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.796B $2.226B
YoY Change
Total Liabilities & Shareholders Equity $4.649B $3.704B
YoY Change 25.52% 32.34%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $37.49M $33.51M
YoY Change 11.88% 57.28%
Depreciation, Depletion And Amortization $22.60M $19.10M
YoY Change 18.32% 36.43%
Cash From Operating Activities $52.40M $49.70M
YoY Change 5.43% 71.38%
INVESTING ACTIVITIES
Capital Expenditures -$433.8M -$97.10M
YoY Change 346.76% 79.48%
Acquisitions
YoY Change
Other Investing Activities $13.40M $6.000M
YoY Change 123.33% -322.22%
Cash From Investing Activities -$420.3M -$91.10M
YoY Change 361.36% 59.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 601.4M 41.30M
YoY Change 1356.17% 42.91%
NET CHANGE
Cash From Operating Activities 52.40M 49.70M
Cash From Investing Activities -420.3M -91.10M
Cash From Financing Activities 601.4M 41.30M
Net Change In Cash 233.5M -100.0K
YoY Change -233600.0% -111.11%
FREE CASH FLOW
Cash From Operating Activities $52.40M $49.70M
Capital Expenditures -$433.8M -$97.10M
Free Cash Flow $486.2M $146.8M
YoY Change 231.2% 76.65%

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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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CY2013Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Interest Income Operating
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us-gaap Interest Income Operating
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CY2013Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
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557000 USD
CY2013Q2 us-gaap Interests Continued To Be Held By Transferor Fair Value
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720000 USD
us-gaap Investment Income Net
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2016-10-01
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Other Income
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us-gaap Notes Assumed1
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us-gaap Operating Expenses
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us-gaap Operating Income Loss
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CY2012Q2 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2012Q2 us-gaap Operating Leases Income Statement Minimum Lease Revenue
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CY2012Q4 us-gaap Other Assets
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CY2013Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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CY2012Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2012Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2013Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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213000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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213000 USD
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
350000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1219000 USD
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CY2013Q2 us-gaap Other Liabilities
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-44510000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
735000 USD
us-gaap Payments For Leasing Costs Commissions And Tenant Improvements
PaymentsForLeasingCostsCommissionsAndTenantImprovements
1154000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
117000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-557000 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
92000000 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3183000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Dividends Common Stock
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90943000 USD
us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
13416000 USD
us-gaap Payments Of Stock Issuance Costs
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10393000 USD
us-gaap Payments To Acquire Held For Sale Real Estate
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us-gaap Payments To Acquire Held For Sale Real Estate
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4472000 USD
us-gaap Payments To Acquire Notes Receivable
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us-gaap Payments To Acquire Notes Receivable
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us-gaap Payments To Acquire Real Estate Held For Investment
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us-gaap Payments To Acquire Real Estate Held For Investment
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us-gaap Percentage Rent
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us-gaap Percentage Rent
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332000 USD
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CY2012Q2 us-gaap Percentage Rent
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CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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PreferredStockParOrStatedValuePerShare
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CY2013Q2 us-gaap Preferred Stock Shares Authorized
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us-gaap Prior Period Reclassification Adjustment Description
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<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>
us-gaap Proceeds From Collection Of Notes Receivable
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3160000 USD
us-gaap Proceeds From Collection Of Notes Receivable
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1337000 USD
us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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258085000 USD
us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Proceeds From Notes Payable
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347406000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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17088000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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12024000 USD
us-gaap Profit Loss
ProfitLoss
71509000 USD
CY2012Q2 us-gaap Profit Loss
ProfitLoss
33476000 USD
us-gaap Profit Loss
ProfitLoss
63299000 USD
CY2013Q2 us-gaap Profit Loss
ProfitLoss
37606000 USD
CY2013Q2 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation
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CY2012Q4 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation
331432000 USD
us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
0 USD
us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
490000 USD
CY2013Q2 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
56068000 USD
CY2012Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
27575000 USD
CY2012Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2347000 USD
CY2013Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2410000 USD
CY2013Q2 us-gaap Real Estate Investment Property Net
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4158943000 USD
CY2012Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3791282000 USD
CY2013Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-178000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
20656000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
474700000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
537400000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
50000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
680000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
526000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-90952000 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-119866000 USD
CY2013Q2 us-gaap Revenues
Revenues
96121000 USD
CY2012Q2 us-gaap Revenues
Revenues
81206000 USD
us-gaap Revenues
Revenues
188599000 USD
us-gaap Revenues
Revenues
158439000 USD
nnn Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Shares
IssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanShares
7774 shares
nnn Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Shares
IssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanShares
8389 shares
nnn Issued Shares Of Restricted And Unrestricted Common Stock Shares
IssuedSharesOfRestrictedAndUnrestrictedCommonStockShares
298896 shares
nnn Issued Shares Of Restricted And Unrestricted Common Stock Shares
IssuedSharesOfRestrictedAndUnrestrictedCommonStockShares
396577 shares
nnn Libor Yield
LiborYield
Forward 3-month curve
nnn Net Earnings Used In Basic Earnings Per Share
NetEarningsUsedInBasicEarningsPerShare
52022000 USD
CY2012Q2 nnn Net Earnings Used In Basic Earnings Per Share
NetEarningsUsedInBasicEarningsPerShare
27399000 USD
CY2013Q2 nnn Net Earnings Used In Basic Earnings Per Share
NetEarningsUsedInBasicEarningsPerShare
32594000 USD
nnn Net Earnings Used In Basic Earnings Per Share
NetEarningsUsedInBasicEarningsPerShare
61798000 USD
CY2012Q4 us-gaap Secured Debt
SecuredDebt
10602000 USD
CY2013Q2 us-gaap Secured Debt
SecuredDebt
10048000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
3098000 USD
CY2013Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
0 USD
CY2012Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
0 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
0 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
2796314000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
2296285000 USD
CY2013Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2797571000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2297585000 USD
us-gaap Straight Line Rent
StraightLineRent
218000 USD
us-gaap Straight Line Rent
StraightLineRent
-128000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
5366000 USD
CY2012Q2 us-gaap Tenant Reimbursements
TenantReimbursements
2556000 USD
CY2013Q2 us-gaap Tenant Reimbursements
TenantReimbursements
3149000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
6126000 USD
CY2012 nnn Libor Yield
LiborYield
Forward 3-month curve
CY2012 nnn Loss Severity Of Loans In Foreclosure
LossSeverityOfLoansInForeclosure
0.2
CY2013Q2 nnn Net Carrying Amount Of Convertible Debt
NetCarryingAmountOfConvertibleDebt
202233000 USD
CY2012Q4 nnn Net Carrying Amount Of Convertible Debt
NetCarryingAmountOfConvertibleDebt
214307000 USD
us-gaap Use Of Estimates
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<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>
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
120865525 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106844080 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107458993 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118403689 shares
CY2012Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
107006399 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
116386249 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
106321014 shares
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
118620837 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115663895 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105992014 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117812651 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105417595 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
696804 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
427465 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
469370 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
631329 shares
CY2012Q4 nnn Accumulated Impairment Real Estate Held For Sale
AccumulatedImpairmentRealEstateHeldForSale
4920000 USD
CY2013Q2 nnn Accumulated Impairment Real Estate Held For Sale
AccumulatedImpairmentRealEstateHeldForSale
6967000 USD
CY2013Q2 nnn Allowance Rental Income
AllowanceRentalIncome
3153000 USD
CY2012Q4 nnn Allowance Rental Income
AllowanceRentalIncome
3270000 USD
nnn Amortization Of Interest Rate Hedges
AmortizationOfInterestRateHedges
114000 USD
nnn Amortization Of Interest Rate Hedges
AmortizationOfInterestRateHedges
178000 USD
CY2013Q2 nnn Amortization Of Interest Rate Hedges
AmortizationOfInterestRateHedges
118000 USD
CY2012Q2 nnn Amortization Of Interest Rate Hedges
AmortizationOfInterestRateHedges
58000 USD
nnn Assets Receivedin Note Receivable Foreclosure
AssetsReceivedinNoteReceivableForeclosure
1595000 USD
nnn Assets Receivedin Note Receivable Foreclosure
AssetsReceivedinNoteReceivableForeclosure
0 USD
nnn Average Daily Closing Price Rated Period
AverageDailyClosingPriceRatedPeriod
P20D
nnn Change In Lease Classification
ChangeInLeaseClassification
757000 USD
nnn Change In Lease Classification
ChangeInLeaseClassification
0 USD
CY2013Q2 nnn Convertible Notes Payable Unamortized Discount
ConvertibleNotesPayableUnamortizedDiscount
0 USD
CY2012Q4 nnn Convertible Notes Payable Unamortized Discount
ConvertibleNotesPayableUnamortizedDiscount
2072000 USD
nnn Debt Instrument Maturity Date Option To Extend
DebtInstrumentMaturityDateOptionToExtend
2017-10-01
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;">$72,806,000</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 six months ended June 30, 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;">June&#160;30, 2013</font><font style="font-family:inherit;font-size:10pt;">, there was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">no</font><font style="font-family:inherit;font-size:10pt;"> outstanding balance, and </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;"> was available for future borrowings under the Credit Facility.</font></div></div>
CY2013Q2 nnn Line Of Credit Facility Option To Increase Facility Size Through Accordion Feature
LineOfCreditFacilityOptionToIncreaseFacilitySizeThroughAccordionFeature
1000000000 USD
nnn Loss Severity Of Loans In Foreclosure
LossSeverityOfLoansInForeclosure
0.2
nnn Discount Rate Valuation Adjustment
DiscountRateValuationAdjustment
0.25
CY2012 nnn Discount Rate Valuation Adjustment
DiscountRateValuationAdjustment
0.25
CY2013Q2 nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
130000 USD
nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
312000 USD
nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
231000 USD
CY2012Q2 nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
180000 USD
nnn Effects Of Dilutive Securities Directors Deferred Fee Plan
EffectsOfDilutiveSecuritiesDirectorsDeferredFeePlan
169088 shares
CY2013Q2 nnn Effects Of Dilutive Securities Directors Deferred Fee Plan
EffectsOfDilutiveSecuritiesDirectorsDeferredFeePlan
170519 shares
nnn Effects Of Dilutive Securities Directors Deferred Fee Plan
EffectsOfDilutiveSecuritiesDirectorsDeferredFeePlan
152576 shares
CY2012Q2 nnn Effects Of Dilutive Securities Directors Deferred Fee Plan
EffectsOfDilutiveSecuritiesDirectorsDeferredFeePlan
155115 shares
CY2012Q4 nnn Excess Stock
ExcessStock
0 USD
CY2013Q2 nnn Excess Stock
ExcessStock
0 USD
CY2013Q2 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
nnn Gain Loss On Disposition Of Assets Noncontrolling Interest Portion Discontinued Operations
GainLossOnDispositionOfAssetsNoncontrollingInterestPortionDiscontinuedOperations
0 USD
nnn Gain Loss On Disposition Of Assets Noncontrolling Interest Portion Discontinued Operations
GainLossOnDispositionOfAssetsNoncontrollingInterestPortionDiscontinuedOperations
153000 USD
CY2013Q2 nnn Gain Loss On Disposition Of Assets Noncontrolling Interest Portion Discontinued Operations
GainLossOnDispositionOfAssetsNoncontrollingInterestPortionDiscontinuedOperations
153000 USD
CY2012Q2 nnn Gain Loss On Disposition Of Assets Noncontrolling Interest Portion Discontinued Operations
GainLossOnDispositionOfAssetsNoncontrollingInterestPortionDiscontinuedOperations
0 USD
nnn Impairment Losses And Other Charges
ImpairmentLossesAndOtherCharges
4004000 USD
nnn Impairment Losses And Other Charges
ImpairmentLossesAndOtherCharges
2900000 USD
CY2013Q2 nnn Impairment Losses And Other Charges Continuing Operations
ImpairmentLossesAndOtherChargesContinuingOperations
160000 USD
nnn Impairment Losses And Other Charges Continuing Operations
ImpairmentLossesAndOtherChargesContinuingOperations
1972000 USD
CY2012Q2 nnn Impairment Losses And Other Charges Continuing Operations
ImpairmentLossesAndOtherChargesContinuingOperations
2548000 USD
nnn Impairment Losses And Other Charges Continuing Operations
ImpairmentLossesAndOtherChargesContinuingOperations
2583000 USD
nnn Increase Decrease In Direct Financing And Sales Type Leases
IncreaseDecreaseInDirectFinancingAndSalesTypeLeases
-810000 USD
nnn Increase Decrease In Direct Financing And Sales Type Leases
IncreaseDecreaseInDirectFinancingAndSalesTypeLeases
-807000 USD
nnn Incremental Common Shares Attributable To Contingently Issuable Shares Diluted
IncrementalCommonSharesAttributableToContingentlyIssuableSharesDiluted
0 shares
CY2012Q2 nnn Incremental Common Shares Attributable To Contingently Issuable Shares Diluted
IncrementalCommonSharesAttributableToContingentlyIssuableSharesDiluted
0 shares
CY2013Q2 nnn Incremental Common Shares Attributable To Contingently Issuable Shares Diluted
IncrementalCommonSharesAttributableToContingentlyIssuableSharesDiluted
0 shares
nnn Incremental Common Shares Attributable To Contingently Issuable Shares Diluted
IncrementalCommonSharesAttributableToContingentlyIssuableSharesDiluted
12735 shares
CY2012Q4 nnn Inventory Building Held For Sale
InventoryBuildingHeldForSale
17566000 USD
CY2013Q2 nnn Inventory Building Held For Sale
InventoryBuildingHeldForSale
35437000 USD
CY2013Q2 nnn Investment Properties Total
InvestmentPropertiesTotal
1838 properties
nnn Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Shares
IssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanShares
10247 shares
nnn Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Shares
IssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanShares
5873 shares
nnn Noteand Mortgage Receivable Acceptedin Connectionwith Real Estate Transactions
NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions
750000 USD
nnn Noteand Mortgage Receivable Acceptedin Connectionwith Real Estate Transactions
NoteandMortgageReceivableAcceptedinConnectionwithRealEstateTransactions
0 USD
nnn Number Of Disposed Properties Discontinued Operations
NumberOfDisposedPropertiesDiscontinuedOperations
10 properties
CY2012Q2 nnn Number Of Disposed Properties Discontinued Operations
NumberOfDisposedPropertiesDiscontinuedOperations
7 properties
nnn Number Of Disposed Properties Discontinued Operations
NumberOfDisposedPropertiesDiscontinuedOperations
9 properties
CY2013Q2 nnn Number Of Disposed Properties Discontinued Operations
NumberOfDisposedPropertiesDiscontinuedOperations
7 properties
CY2013Q1 nnn Number Of Properties Classified As Held For Sale
NumberOfPropertiesClassifiedAsHeldForSale
15 properties
CY2012Q4 nnn Number Of Properties Classified As Held For Sale
NumberOfPropertiesClassifiedAsHeldForSale
10 properties
CY2013Q2 nnn Number Of Properties Classified As Held For Sale
NumberOfPropertiesClassifiedAsHeldForSale
29 properties
nnn Number Of Securitizations
NumberOfSecuritizations
7 securitizations
nnn Other Comprehensive Income Unrealized Holding Gain Loss On Residual Interest Of Securitization Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnResidualInterestOfSecuritizationArisingDuringPeriodNetOfTax
1219000 USD
CY2012Q2 nnn Other Comprehensive Income Unrealized Holding Gain Loss On Residual Interest Of Securitization Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnResidualInterestOfSecuritizationArisingDuringPeriodNetOfTax
213000 USD
CY2013Q2 nnn Other Comprehensive Income Unrealized Holding Gain Loss On Residual Interest Of Securitization Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnResidualInterestOfSecuritizationArisingDuringPeriodNetOfTax
350000 USD
nnn Other Comprehensive Income Unrealized Holding Gain Loss On Residual Interest Of Securitization Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnResidualInterestOfSecuritizationArisingDuringPeriodNetOfTax
213000 USD
nnn Paymentsfor Hedge Interest Rate Hedge Financing Activities
PaymentsforHedgeInterestRateHedgeFinancingActivities
0 USD
nnn Paymentsfor Hedge Interest Rate Hedge Financing Activities
PaymentsforHedgeInterestRateHedgeFinancingActivities
3141000 USD
nnn Performance Incentive Plan Expense
PerformanceIncentivePlanExpense
3889000 USD
nnn Performance Incentive Plan Expense
PerformanceIncentivePlanExpense
4843000 USD
nnn Performance Incentive Plan Payment
PerformanceIncentivePlanPayment
0 USD
nnn Performance Incentive Plan Payment
PerformanceIncentivePlanPayment
2139000 USD
nnn Proceedsfrom Comercial Mortgage Residual Interest
ProceedsfromComercialMortgageResidualInterest
142000 USD
nnn Proceedsfrom Comercial Mortgage Residual Interest
ProceedsfromComercialMortgageResidualInterest
399000 USD
CY2013Q2 nnn Real Estate Funding Commitments
RealEstateFundingCommitments
140821000 USD
CY2013Q2 nnn Real Estate Funding Commitments Amount Funded
RealEstateFundingCommitmentsAmountFunded
106566000 USD
CY2013Q2 nnn Real Estate Funding Commitments Number Of Properties
RealEstateFundingCommitmentsNumberOfProperties
50 properties
CY2013Q2 nnn Real Estate Funding Commitments Remaining Commitment
RealEstateFundingCommitmentsRemainingCommitment
34255000 USD
CY2013Q2 nnn Real Estate Held For Sale Funding Commitments
RealEstateHeldForSaleFundingCommitments
1656000 USD
CY2013Q2 nnn Real Estate Held For Sale Funding Commitments Amount Funded
RealEstateHeldForSaleFundingCommitmentsAmountFunded
1540000 USD
CY2013Q2 nnn Real Estate Held For Sale Funding Commitments Number Of Properties
RealEstateHeldForSaleFundingCommitmentsNumberOfProperties
2 properties
CY2013Q2 nnn Real Estate Held For Sale Funding Commitments Remaining Commitment
RealEstateHeldForSaleFundingCommitmentsRemainingCommitment
116000 USD
CY2013Q2 nnn Real Estate Investment Funding Commitments
RealEstateInvestmentFundingCommitments
139165000 USD
CY2013Q2 nnn Real Estate Investment Funding Commitments Amount Funded
RealEstateInvestmentFundingCommitmentsAmountFunded
105026000 USD
CY2013Q2 nnn Real Estate Investment Funding Commitments Number Of Properties
RealEstateInvestmentFundingCommitmentsNumberOfProperties
48 properties
CY2013Q2 nnn Real Estate Investment Funding Commitments Remaining Commitment
RealEstateInvestmentFundingCommitmentsRemainingCommitment
34139000 USD
CY2013Q2 nnn Real Estate Subject To Operating Leases Before Work In Process
RealEstateSubjectToOperatingLeasesBeforeWorkInProcess
4088336000 USD
CY2012Q4 nnn Real Estate Subject To Operating Leases Before Work In Process
RealEstateSubjectToOperatingLeasesBeforeWorkInProcess
3704775000 USD
CY2012Q4 nnn Real Estate Subject To Operating Leases Gross
RealEstateSubjectToOperatingLeasesGross
4036207000 USD
CY2013Q2 nnn Real Estate Subject To Operating Leases Gross
RealEstateSubjectToOperatingLeasesGross
4458614000 USD
nnn Retail Operations Operating Expenses
RetailOperationsOperatingExpenses
18542000 USD
CY2013Q2 nnn Retail Operations Operating Expenses
RetailOperationsOperatingExpenses
0 USD
CY2012Q2 nnn Retail Operations Operating Expenses
RetailOperationsOperatingExpenses
7480000 USD
nnn Retail Operations Operating Expenses
RetailOperationsOperatingExpenses
0 USD
nnn Retail Operations Operating Income Loss
RetailOperationsOperatingIncomeLoss
0 USD
CY2012Q2 nnn Retail Operations Operating Income Loss
RetailOperationsOperatingIncomeLoss
304000 USD
nnn Retail Operations Operating Income Loss
RetailOperationsOperatingIncomeLoss
466000 USD
CY2013Q2 nnn Retail Operations Operating Income Loss
RetailOperationsOperatingIncomeLoss
0 USD
nnn Retail Operations Revenues
RetailOperationsRevenues
19008000 USD
CY2012Q2 nnn Retail Operations Revenues
RetailOperationsRevenues
7784000 USD
CY2013Q2 nnn Retail Operations Revenues
RetailOperationsRevenues
0 USD
nnn Retail Operations Revenues
RetailOperationsRevenues
0 USD
CY2012Q1 nnn Stock Authorized Shares Employee Dividend Reinvestment And Stock Purchase Plan
StockAuthorizedSharesEmployeeDividendReinvestmentAndStockPurchasePlan
16000000 shares
CY2013Q2 nnn Stock Value Adjustment
StockValueAdjustment
-8000 USD
nnn Stock Value Adjustment
StockValueAdjustment
1000 USD
CY2012Q2 nnn Stock Value Adjustment
StockValueAdjustment
0 USD
nnn Stock Value Adjustment
StockValueAdjustment
-89000 USD
nnn Supplemental Change In Other Comprehensive Income
SupplementalChangeInOtherComprehensiveIncome
-326000 USD
nnn Supplemental Change In Other Comprehensive Income
SupplementalChangeInOtherComprehensiveIncome
706000 USD
nnn Supplemental Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Value
SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue
149000 USD
nnn Supplemental Issued Shares Of Common Stock Pursuant To Deferred Director Fee Plan Value
SupplementalIssuedSharesOfCommonStockPursuantToDeferredDirectorFeePlanValue
75000 USD
nnn Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan For Directors Value
SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue
274000 USD
nnn Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan For Directors Value
SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanForDirectorsValue
229000 USD
nnn Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Value
SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue
8576000 USD
nnn Supplemental Issued Shares Of Common Stock Pursuant To Performance Incentive Plan Value
SupplementalIssuedSharesOfCommonStockPursuantToPerformanceIncentivePlanValue
8218000 USD
nnn Surrender Of Restricted Stock
SurrenderOfRestrictedStock
98000 USD
nnn Surrender Of Restricted Stock
SurrenderOfRestrictedStock
7000 USD
nnn Surrenderof Restricted Stock Shares
SurrenderofRestrictedStockShares
4178 shares
nnn Surrenderof Restricted Stock Shares
SurrenderofRestrictedStockShares
241 shares
CY2013Q2 nnn Weighted Average Remaining Lease Term Years
WeightedAverageRemainingLeaseTermYears
P12Y
nnn Weighted Average Remaining Lease Term Years
WeightedAverageRemainingLeaseTermYears
P12Y
nnn Yield Prime
YieldPrime
Forward curve
CY2012 nnn Yield Prime
YieldPrime
Forward curve
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000751364
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
121190784 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
NATIONAL RETAIL PROPERTIES, INC.

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