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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2014
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 calculates the Company’s earnings per share (“EPS”) and 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):

 

 

Three-Month Periods

Ended June 30,

 

 

Six-Month Periods

Ended June 30,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

Basic Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

$

68,780

 

 

$

3

 

 

$

40,854

 

 

$

11,484

 

Plus: Income (loss) on disposition of real estate

 

1,472

 

 

 

(1,525

)

 

 

383

 

 

 

(1,582

)

Plus: Loss attributable to non-controlling interests

 

(347

)

 

 

(153

)

 

 

(501

)

 

 

(308

)

Write-off of preferred share original issuance costs

 

(1,943

)

 

 

(5,246

)

 

 

(1,943

)

 

 

(5,246

)

Preferred dividends

 

(6,259

)

 

 

(7,475

)

 

 

(12,867

)

 

 

(14,505

)

Less: Earnings attributable to unvested shares and operating

   partnership units

 

(464

)

 

 

(359

)

 

 

(777

)

 

 

(722

)

Basic—Income (loss) from continuing operations

 

61,239

 

 

 

(14,755

)

 

 

25,149

 

 

 

(10,879

)

Discontinued Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic—Income (loss) from discontinued operations

 

6,643

 

 

 

(21,596

)

 

 

17,280

 

 

 

(26,526

)

Plus: (Loss) income attributable to non-controlling interests

 

(531

)

 

 

(42

)

 

 

1,361

 

 

 

(78

)

Basic—Net income (loss) attributable to DDR common shareholders

   after allocation to participating securities

$

67,351

 

 

$

(36,393

)

 

$

43,790

 

 

$

(37,483

)

Diluted Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic—Income (loss) from continuing operations

$

61,703

 

 

$

(14,396

)

 

$

25,926

 

 

$

(10,157

)

Less: Earnings attributable to unvested shares and operating

   partnership units

 

(464

)

 

 

(359

)

 

 

(777

)

 

 

(722

)

Diluted—Income (loss) from continuing operations

 

61,239

 

 

 

(14,755

)

 

 

25,149

 

 

 

(10,879

)

Discontinued Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic—Income (loss) from discontinued operations

 

6,112

 

 

 

(21,638

)

 

 

18,641

 

 

 

(26,604

)

Diluted—Net income (loss) attributable to DDR common shareholders

   after allocation to participating securities

$

67,351

 

 

$

(36,393

)

 

$

43,790

 

 

$

(37,483

)

Number of Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic—Average shares outstanding

 

357,812

 

 

 

316,967

 

 

 

357,717

 

 

 

315,110

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

483

 

 

 

—

 

 

 

459

 

 

 

—

 

Diluted—Average shares outstanding

 

358,295

 

 

 

316,967

 

 

 

358,176

 

 

 

315,110

 

Basic Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to DDR

   common shareholders

$

0.17

 

 

$

(0.04

)

 

$

0.07

 

 

$

(0.04

)

Income (loss) from discontinued operations attributable to DDR

   common shareholders

 

0.02

 

 

 

(0.07

)

 

 

0.05

 

 

 

(0.08

)

Net income (loss) attributable to DDR common shareholders

$

0.19

 

 

$

(0.11

)

 

$

0.12

 

 

$

(0.12

)

Diluted Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to DDR

   common shareholders

$

0.17

 

 

$

(0.04

)

 

$

0.07

 

 

$

(0.04

)

Income (loss) from discontinued operations attributable to DDR

   common shareholders

 

0.02

 

 

 

(0.07

)

 

 

0.05

 

 

 

(0.08

)

Net income (loss) attributable to DDR common shareholders

$

0.19

 

 

$

(0.11

)

 

$

0.12

 

 

$

(0.12

)