This is where the documentation is:
http://msdn.microsoft.com/en-us/library/dwhawy9k.aspx
The numeric ("N") format specifier converts a number to a string of the form "-d,ddd,ddd.ddd…", where "-" indicates a negative number symbol if required, "d" indicates a digit (0-9) ...
And this is where they talk about the default (2):
// Displays a negative value with the default number of decimal digits (2).
Int64 myInt = -1234;
Console.WriteLine( myInt.ToString( "N", nfi ) );