XML 61 R22.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Earnings Per Share | 9 Months Ended
--- | ---
Sep. 30, 2014
Earnings Per Share [Abstract] |
Earnings Per Share |
14. | EARNINGS PER SHARE
The following table calculates the Company’s earnings per share (“EPS”) and provides a reconciliation of net 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 September 30, |  |  | Nine-Month Periods Ended September 30, |
| 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Numerators – Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continuing Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 6,313 |  |  | $ | 1,124 |  |  | $ | 53,655 |  |  | $ | 10,696 |
Plus: Gain on disposition of real estate |  | 2,262 |  |  |  | 1,929 |  |  |  | 2,645 |  |  |  | 347 |
Plus: Income (loss) attributable to non-controlling interests |  | 2,125 |  |  |  | (136 | ) |  |  | 1,623 |  |  |  | (443 | )
Write-off of preferred share original issuance costs |  | — |  |  |  | — |  |  |  | (1,943 | ) |  |  | (5,246 | )
Preferred dividends |  | (5,594 | ) |  |  | (6,608 | ) |  |  | (18,460 | ) |  |  | (21,113 | )
Less: Earnings attributable to unvested shares and operating partnership units |  | (463 | ) |  |  | (330 | ) |  |  | (1,238 | ) |  |  | (1,052 | )
Income (loss) from continuing operations |  | 4,643 |  |  |  | (4,021 | ) |  |  | 36,282 |  |  |  | (16,811 | )
Discontinued Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from discontinued operations |  | 57,906 |  |  |  | (3,258 | ) |  |  | 68,697 |  |  |  | (27,872 | )
Plus: (Loss) income attributable to non-controlling interests |  | — |  |  |  | (34 | ) |  |  | 1,362 |  |  |  | (113 | )
Net income (loss) attributable to DDR common shareholders after allocation to participating securities | $ | 62,549 |  |  | $ | (7,313 | ) |  | $ | 106,341 |  |  | $ | (44,796 | )
Denominators – Number of Shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic—Average shares outstanding |  | 358,025 |  |  |  | 318,184 |  |  |  | 357,824 |  |  |  | 316,146 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | 487 |  |  |  | — |  |  |  | 468 |  |  |  | — |
Diluted—Average shares outstanding |  | 358,512 |  |  |  | 318,184 |  |  |  | 358,292 |  |  |  | 316,146 |
Basic Earnings Per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to DDR common shareholders | $ | 0.01 |  |  | $ | (0.01 | ) |  | $ | 0.10 |  |  | $ | (0.05 | )
Income (loss) from discontinued operations attributable to DDR common shareholders |  | 0.16 |  |  |  | (0.01 | ) |  |  | 0.20 |  |  |  | (0.09 | )
Net income (loss) attributable to DDR common shareholders | $ | 0.17 |  |  | $ | (0.02 | ) |  | $ | 0.30 |  |  | $ | (0.14 | )
Diluted Earnings Per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to DDR common shareholders | $ | 0.01 |  |  | $ | (0.01 | ) |  | $ | 0.10 |  |  | $ | (0.05 | )
Income (loss) from discontinued operations attributable to DDR common shareholders |  | 0.16 |  |  |  | (0.01 | ) |  |  | 0.20 |  |  |  | (0.09 | )
Net income (loss) attributable to DDR common shareholders | $ | 0.17 |  |  | $ | (0.02 | ) |  | $ | 0.30 |  |  | $ | (0.14 | )
The following potentially dilutive securities are considered in the calculation of EPS as described below: Potentially Dilutive Securities:
— | The Company’s senior convertible notes due 2040, which are convertible into common shares of the Company with a conversion price of $14.96 at September 30, 2014, were not included in the computation of diluted EPS for all periods presented because the Company’s common share price did not exceed 125% of the conversion price in these periods and would therefore be anti-dilutive.
— | Shares subject to issuance under the Company’s 2013 Value Sharing Equity Program were not considered in the computation of diluted EPS for the three- and nine-month periods ended September 30, 2014, because the calculation was anti-dilutive.
— | At September 30, 2014 and 2013, the Company had 1,441,890 and 398,701 OP Units, respectively, outstanding. The exchange into common shares associated with the OP Units was not included in the computation of diluted shares outstanding for all periods presented because the effect of assuming conversion was anti-dilutive.

X
- Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration