The following table calculates the Company’s earnings per share (“EPS”) and provides a reconciliation of net (loss) income from continuing operations and the number of common shares used in the computations of “basic” EPS, which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts):


	Three-Month Periods Ended March 31,
	2013			2012
Basic Earnings:
Continuing Operations:
Income from continuing operations	$	6,241		$	184
Plus: (Loss) gain on disposition of real estate		(57	)		665
Plus: Loss attributable to non-controlling interests		(191	)		(176	)

Income from continuing operations attributable to DDR		5,993			673
Preferred dividends		(7,030	)		(6,967	)

Basic—Loss from continuing operations attributable to DDR common shareholders		(1,037	)		(6,294	)
Less: Earnings attributable to unvested shares and operating partnership units		(364	)		(292	)

Basic—Loss from continuing operations	$	(1,401	)	$	(6,586	)

Discontinued Operations:
Basic—Income (loss) from discontinued operations		310			(15,730	)

Basic—Net loss attributable to DDR common shareholders after allocation to participating securities	$	(1,091	)	$	(22,316	)


Diluted Earnings:
Continuing Operations:
Basic—Loss from continuing operations	$	(1,037	)	$	(6,294	)
Less: Earnings attributable to unvested shares and operating partnership units		(364	)		(292	)

Diluted—Loss from continuing operations		(1,401	)		(6,586	)

Discontinued Operations:
Basic—Income (loss) from discontinued operations		310			(15,730	)

Diluted—Net loss attributable to DDR common shareholders after allocation to participating securities	$	(1,091	)	$	(22,316	)


Number of Shares:
Basic and Diluted—Average shares outstanding		313,231			275,214


Basic Earnings Per Share:
Loss from continuing operations attributable to DDR common shareholders	$	0.00		$	(0.02	)
Income (loss) from discontinued operations attributable to DDR common shareholders		0.00			(0.06	)

Net loss attributable to DDR common shareholders	$	0.00		$	(0.08	)


Dilutive Earnings Per Share:
Loss from continuing operations attributable to DDR common shareholders	$	0.00		$	(0.02	)
Income (loss) from discontinued operations attributable to DDR common shareholders		0.00			(0.06	)

Net loss attributable to DDR common shareholders	$	0.00		$	(0.08	)