XML 62 R36.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Impairment Charges and Impairment of Joint Venture Investments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract] |
Impairment Charges on Assets or Investments | The Company recorded impairment charges during the three- and nine-month periods ended September 30, 2014 and 2013, based on the difference between the carrying value of the assets or investments and the estimated fair market value as follows (in millions):
| Three-Month Periods Ended September 30, |  |  | Nine-Month Periods Ended September 30, |
| 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Land held for development(A) | $ | — |  |  | $ | — |  |  | $ | 13.2 |  |  | $ | — |
Undeveloped land |  | 1.4 |  |  |  | — |  |  |  | 1.9 |  |  |  | 2.6 |
Assets marketed for sale(B) |  | 0.4 |  |  |  | 9.2 |  |  |  | 3.8 |  |  |  | 20.3 |
Total continuing operations | $ | 1.8 |  |  | $ | 9.2 |  |  | $ | 18.9 |  |  | $ | 22.9 |
Sold assets – discontinued operations |  | — |  |  |  | 14.9 |  |  |  | 8.1 |  |  |  | 43.9 |
Joint venture investments(C) |  | — |  |  |  | — |  |  |  | 9.1 |  |  |  | — |
Total impairment charges | $ | 1.8 |  |  | $ | 24.1 |  |  | $ | 36.1 |  |  | $ | 66.8 |
(A) | Amounts reported in the nine-month period ended September 30, 2014, primarily related to land held for development in Canada that is owned through a consolidated joint venture. The asset impairment was triggered primarily by the Company’s decision to sell the land.
(B) | The impairment charges were triggered primarily due to the Company’s marketing of these assets for sale and management’s assessment of the likelihood and timing of one or more potential transactions.
(C) | Amount recorded in 2014 represents an “other than temporary impairment” charge on a development project in Canada that is owned through an unconsolidated joint venture. The impairment was triggered by changes in the timing of the project development assumptions that occurred in the first quarter of 2014.
Impairment Charges Measured at Fair Value on Non-Recurring Basis | The following table presents information about the Company’s impairment charges on both financial and nonfinancial assets that were measured on a fair value basis for the nine-month period ended September 30, 2014, and the year ended December 31, 2013. The table also 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 |  |  | Total Losses |
September 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-lived assets held and used |  | $ | — |  |  | $ | — |  |  | $ | 111.6 |  |  | $ | 111.6 |  |  | $ | 27.0 |
Unconsolidated joint venture investments |  |  | — |  |  |  | — |  |  |  | 26.8 |  |  |  | 26.8 |  |  |  | 9.1 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-lived assets held and used and held for sale |  |  | — |  |  |  | — |  |  |  | 164.2 |  |  |  | 164.2 |  |  |  | 72.6 |
Unconsolidated joint venture investments |  |  | — |  |  |  | — |  |  |  | 35.3 |  |  |  | 35.3 |  |  |  | 1.0 |
Summary of Significant Unobservable Inputs | The following table presents quantitative information about the significant unobservable inputs used by the Company to determine the fair value of non-recurring items (in millions):
|  | Quantitative Information about Level 3 Fair Value Measurements |
|  | Fair Value at |  |  |  |  |  |  | Range |
Description |  | September 30, 2014 |  |  | December 31, 2013 |  |  | Valuation Technique |  | Unobservable Inputs |  | 2014 |  |  | 2013 |
Impairment of consolidated assets |  | $ | 44.6 |  |  | $ | 88.7 |  |  | Indicative Bid(A)/ Contracted Price |  | Indicative Bid(A)/ Contracted Price |  | N/A |  |  | N/A |
|  |  | 67.0 |  |  |  | 75.5 |  |  | Income Capitalization Approach(B) |  | Market Capitalization Rate |  |  | 8% |  |  | 8% – 10% |
|  |  |  |  |  |  |  |  |  |  |  | Price Per Square Foot |  | N/A |  |  | $12 – $117 |
Impairment of joint venture investments |  |  | 26.8 |  |  |  | 35.3 |  |  | Discounted Cash Flow |  | Discount Rate |  | 8% – 15% |  |  | 8% – 15% |
|  |  |  |  |  |  |  |  |  |  |  | Terminal Capitalization Rate |  |  | 6% |  |  |  | 6% |
(A) | Fair value measurements based upon indicative bids were developed by third-party sources (including offers and comparable sales values), subject to the Company’s determination of reasonableness. The Company does not have access to certain unobservable inputs used by these third parties to determine these estimated fair values.
(B) | Vacant space in certain assets was valued based on a price per square foot.

X
- Definition Impairment charges on consolidated assets. + References No definition available. + Details
Name: | ddr_ImpairmentChargesOnConsolidatedAssetsTableTextBlock
Namespace Prefix: | ddr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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