Earnings and Dividends Per Share (Tables)

12 Months Ended

Dec. 31, 2013

Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net (Loss) Income from Continuing Operations and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net income (loss) 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):


	For the Year Ended December 31,
	2013			2012			2011
Basic Earnings:
Continuing Operations:
Income (loss) from continuing operations	$	1,887		$	21,566		$	(5,603	)
Plus: Gain on disposition of real estate		467			5,863			7,079
Plus: (Loss) income attributable to non-controlling interests		(794	)		(493	)		3,543
Write-off of preferred share original issuance costs		(5,246	)		(5,804	)		(6,402	)
Preferred dividends		(27,721	)		(28,645	)		(31,587	)
Less: Earnings attributable to unvested shares and operating partnership units		(1,367	)		(1,114	)		(488	)

Basic — Loss from continuing operations	$	(32,774	)	$	(8,627	)	$	(33,458	)
Discontinued Operations:
Basic — Loss from discontinued operations		(11,735	)		(52,758	)		(20,873	)

Basic — Net loss attributable to DDR common shareholders after allocation to participating securities	$	(44,509	)	$	(61,385	)	$	(54,331	)

Diluted Earnings:
Continuing Operations:
Basic — Loss from continuing operations attributable to DDR common shareholders	$	(31,407	)	$	(7,513	)	$	(32,970	)
Less: Earnings attributable to unvested shares and operating partnership units		(1,367	)		(1,114	)		(488	)
Less: Fair value of Otto Family warrants		—			—			(21,926	)

Diluted — Loss from continuing operations	$	(32,774	)	$	(8,627	)	$	(55,384	)
Discontinued Operations:
Basic — Loss from discontinued operations		(11,735	)		(52,758	)		(20,873	)

Diluted — Net loss attributable to DDR common shareholders after allocation to participating securities	$	(44,509	)	$	(61,385	)	$	(76,257	)

Number of Shares:
Basic — Average shares outstanding		326,426			291,726			270,278

Effect of dilutive securities — Warrants		—			—			1,194

Diluted — Average shares outstanding		326,426			291,726			271,472

Basic Earnings Per Share:
Loss from continuing operations attributable to DDR common shareholders	$	(0.10	)	$	(0.03	)	$	(0.12	)
Loss from discontinued operations attributable to DDR common shareholders		(0.04	)		(0.18	)		(0.08	)

Net loss attributable to DDR common shareholders	$	(0.14	)	$	(0.21	)	$	(0.20	)

Dilutive Earnings Per Share:
Loss from continuing operations attributable to DDR common shareholders	$	(0.10	)	$	(0.03	)	$	(0.20	)
Loss from discontinued operations attributable to DDR common shareholders		(0.04	)		(0.18	)		(0.08	)

Net loss attributable to DDR common shareholders	$	(0.14	)	$	(0.21	)	$	(0.28	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Common shares that were subject to the forward equity agreements were not included in the computation of diluted EPS using the treasury stock method prior to the date of settlement because they were anti-dilutive due to the Company’s loss from continuing operations and are as follows (shares in millions):


Contract Date	Settlement Date	Number of Common Shares
May 2013	September and October 2013		39.1
January 2012	June 2012		19.0
March 2011	April 2011		9.5