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Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Items Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s financial assets and liabilities, which consist of interest rate swap agreements (included in Other Liabilities) and marketable securities (included in Other Assets), which include investments in the Company’s elective deferred compensation plan and investments in securities at September 30, 2013 and December 31, 2012, measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions):

		Fair Value Measurements
		Level 1				Level 2				Level 3				Total
Assets (liabilities):
September 30, 2013
Derivative financial instruments		$	—			$	(6.0	)		$	—			$	(6.0	)
Marketable securities		$	7.5			$	—			$	—			$	7.5
December 31, 2012
Derivative financial instruments		$	—			$	(17.1	)		$	—			$	(17.1	)
Marketable securities		$	2.9			$	—			$	—			$	2.9

Debt Instruments with Carrying Values Different than Estimated Fair Values

Debt instruments at September 30, 2013 and December 31, 2012, with carrying values that are different than estimated fair values, are summarized as follows (in thousands):

		September 30, 2013								December 31, 2012
		Carrying Amount				Fair Value				Carrying Amount				Fair Value
Senior notes		$	2,453,336			$	2,702,949			$	2,147,097			$	2,503,127
Revolving Credit Facilities and term loans			792,869				794,912				897,905				903,210
Mortgage indebtedness			1,349,852				1,371,949				1,274,141				1,324,969
		$	4,596,057			$	4,869,810			$	4,319,143			$	4,731,306

Information Regarding Swaps

The following table discloses certain information regarding the Company’s 10 outstanding interest rate swaps (not including the specified spreads), as well as their classification on the condensed consolidated balance sheets, as of September 30, 2013 and December 31, 2012 (in millions):

Maturity Date		Aggregate Notional Amount				Counterparty Pays Variable Rate				DDR Pays Fixed Rate				Fair Value
														September 30, 2013								December 31, 2012
														Asset				Liability				Asset				Liability
June 2014		$	100.0				1 Month LIBOR				1.0	%		$	—			$	(0.6	)		$	—			$	(1.2	)
June 2015		$	50.0				1 Month LIBOR				0.6	%			—				(0.2	)			—				(0.3	)
July 2015		$	100.0				1 Month LIBOR				0.5	%			—				(0.4	)			—				(0.5	)
September 2017		$	81.8				1 Month LIBOR				2.8	%			—				(5.6	)			—				(7.8	)
January 2018		$	100.0				1 Month LIBOR				0.9	%			1.0				—				—				(0.7	)
February 2019		$	100.0				1 Month LIBOR				1.6	%			—				(0.3	)			—				(3.5	)
February 2019		$	100.0				1 Month LIBOR				1.5	%			0.1				—				—				(3.1	)
Other Assets														$	1.1				N/A			$	—				N/A
Accounts Payable															N/A			$	(7.1	)			N/A			$	(17.1	)

Effect of Company's Derivative Instruments on Net Income (Loss)

The effect of the Company’s cash flow hedges and net investment hedge instruments on net income (loss) and OCI is as follows (in millions):

		Amount of Gain (Loss) Recognized in OCI (Effective Portion)																Location of Gain (Loss) Reclassified from Accumulated OCI (Effective Portion)				Amount of Gain (Loss) Reclassified from Accumulated OCI (Effective Portion)
		Three-Month Periods Ended September 30								Nine-Month Periods Ended September 30												Three-Month Periods Ended September 30								Nine-Month Periods Ended September 30
		2013				2012				2013				2012								2013				2012				2013				2012
Cash flow hedges:
Interest rate contracts		$	(1.5	)		$	(4.0	)		$	11.1			$	(10.3	)			Interest expense			$	(0.1	)		$	0.4			$	(0.3	)		$	0.2

Net Investment Hedge Derivative Instruments on OCI

		Amount of Gain (Loss) Recognized in OCI (Effective Portion)																Location of Gain (Loss) Reclassified from Accumulated OCI (Effective Portion)				Amount of Gain (Loss) Reclassified from Accumulated OCI (Effective Portion)
		Three-Month Periods Ended September 30								Nine-Month Periods Ended September 30												Three-Month Periods Ended September 30								Nine-Month Periods Ended September 30
		2013				2012				2013				2012								2013				2012				2013				2012
Cash flow hedges:
Interest rate contracts		$	(1.5	)		$	(4.0	)		$	11.1			$	(10.3	)			Interest expense			$	(0.1	)		$	0.4			$	(0.3	)		$	0.2
Net investment hedges:
Euro-denominated		$	(0.2	)		$	(0.2	)		$	(0.1	)		$	0.1							$	—			$	—			$	—			$	—
Canadian dollar-denominated			(0.5	)			(1.3	)			0.8				(0.9	)							—				—				—				—
Total:		$	(0.7	)		$	(1.5	)		$	0.7			$	(0.8	)						$	—			$	—			$	—			$	—

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Effects of net investment hedges on OCI.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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