XML 56 R47.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Income Taxes [Line Items] |
Summary of Differences Between Total Income Tax Expense Statutory Federal Income Tax Rate | The differences between total income tax expense or benefit and the amount computed by applying the statutory income tax rate to income before taxes with respect to its TRS activity and its Puerto Rico activity were as follows (in thousands):
|  | For the Year Ended December 31, |
TRS |  | 2014 |  |  | 2013 |  |  | 2012 |
Statutory rate of 34% applied to pre-tax income (loss) |  | $ | 4,115 |  |  | $ | 2,280 |  |  | $ | (5,757 | )
Effect of state and local income taxes, net of federal tax benefit |  |  | 605 |  |  |  | 335 |  |  |  | (847 | )
Valuation allowance (decrease) increase |  |  | (6,144 | ) |  |  | (1,725 | ) |  |  | 16,808 |
Other |  |  | 1,424 |  |  |  | (890 | ) |  |  | (10,204 | )
Total expense |  | $ | — |  |  | $ | — |  |  | $ | — |
Effective tax rate |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
Summary of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities of the Company’s TRS and Puerto Rico were as follows (in thousands):
| For the Year Ended December 31, |
| 2014 |  |  | 2013 |  |  | 2012 |
Deferred tax assets – TRS | $ | 67,085 |  |  | $ | 73,182 |  |  | $ | 75,450 |
Deferred tax assets – Puerto Rico |  | 53,394 |  |  |  | 50,061 |  |  |  | 34,041 |
Deferred tax liabilities – TRS |  | (539 | ) |  |  | (492 | ) |  |  | (1,035 | )
Deferred tax liabilities – Puerto Rico |  | (35,437 | ) |  |  | (36,298 | ) |  |  | (26,992 | )
Valuation allowance – TRS |  | (66,546 | ) |  |  | (72,690 | ) |  |  | (74,415 | )
Valuation allowance – Puerto Rico |  | (17,957 | ) |  |  | (13,763 | ) |  |  | (7,049 | )
Net deferred tax asset(A) | $ | — |  |  | $ | — |  |  | $ | — |
(A) | The components of the net deferred tax assets are primarily attributable to net operating losses, Puerto Rico special partnership losses and interest expense, subject to limitations and basis differentials in assets due to purchase price accounting.
Reconciliation of GAAP Net income (Loss) Attributable to Taxable Income | Reconciliation of GAAP net income (loss) attributable to DDR to taxable income is as follows (in thousands):
| For the Year Ended December 31, |
| 2014 |  |  | 2013 |  |  | 2012 |
GAAP net income (loss) attributable to DDR | $ | 117,282 |  |  | $ | (10,175 | ) |  | $ | (25,822 | )
Plus: Book depreciation and amortization(A) |  | 341,391 |  |  |  | 296,008 |  |  |  | 247,084 |
Less: Tax depreciation and amortization(A) |  | (210,850 | ) |  |  | (194,889 | ) |  |  | (185,230 | )
Book/tax differences on losses from capital transactions |  | (313,855 | ) |  |  | (148,066 | ) |  |  | (122,101 | )
Joint venture equity in earnings (loss), net(A) |  | 96,860 |  |  |  | 15,156 |  |  |  | (23,885 | )
Dividends from subsidiary REIT investments |  | 463 |  |  |  | 503 |  |  |  | 480 |
Deferred income |  | (12,545 | ) |  |  | 4,910 |  |  |  | 8,471 |
Compensation expense |  | (6,103 | ) |  |  | (5,626 | ) |  |  | (11,325 | )
Impairment charges |  | 68,703 |  |  |  | 73,577 |  |  |  | 153,142 |
Senior convertible notes - accretion adjustment |  | 11,377 |  |  |  | 10,789 |  |  |  | 10,884 |
Miscellaneous book/tax differences, net |  | (14,745 | ) |  |  | (9,268 | ) |  |  | (2,755 | )
Taxable income before adjustments |  | 77,978 |  |  |  | 32,919 |  |  |  | 48,943 |
Less: Capital gains |  | (48,015 | ) |  |  | — |  |  |  | (48,943 | )
Taxable income subject to the 90% dividend requirement | $ | 29,963 |  |  | $ | 32,919 |  |  | $ | — |
(A) | Depreciation expense from majority-owned subsidiaries and affiliates, which is consolidated for financial reporting purposes but not for tax reporting purposes, is included in the reconciliation item “Joint venture equity in earnings (loss), net.”
Reconciliation Between Cash Dividends Paid and Dividends Paid Deduction | Reconciliation between cash dividends paid and the dividends paid deduction is as follows (in thousands):
| For the Year Ended December 31, |
| 2014 |  |  | 2013 |  |  | 2012 |
Dividends paid | $ | 239,294 |  |  | $ | 193,101 |  |  | $ | 153,617 |
Plus: Deemed dividends on convertible debt |  | 12,026 |  |  |  | 9,987 |  |  |  | 7,875 |
Less: Dividends designated to prior year |  | (6,608 | ) |  |  | (7,030 | ) |  |  | (6,967 | )
Plus: Dividends designated from the following year |  | 5,594 |  |  |  | 6,608 |  |  |  | 7,030 |
Less: Return of capital |  | (172,328 | ) |  |  | (169,747 | ) |  |  | (112,612 | )
Dividends paid deduction | $ | 77,978 |  |  | $ | 32,919 |  |  | $ | 48,943 |
Summary of Tax Characterization of Common Share Dividends Per Share as Reported to Shareholders | The dividends declared in the fourth quarter with respect to the Company’s common shares for the years ended December 31, 2014, 2013 and 2012, have been allocated and reported to shareholders in the subsequent year. The tax characterization of common share dividends per share as reported to shareholders for the three years ended December 31, 2014, is summarized as follows:
2014 Dividends |  | Date Paid |  | Gross Ordinary Income |  |  | Capital Gain Distributions |  |  | Return of Capital |  |  | Total Dividends |
4th quarter 2013 |  | 1/7/2014 |  | $ | 0.012391 |  |  | $ | 0.019856 |  |  | $ | 0.102753 |  |  | $ | 0.135000 |
1st quarter |  | 4/8/2014 |  |  | 0.014227 |  |  |  | 0.022798 |  |  |  | 0.117975 |  |  |  | 0.155000 |
2nd quarter |  | 7/8/2014 |  |  | 0.014227 |  |  |  | 0.022798 |  |  |  | 0.117975 |  |  |  | 0.155000 |
3rd quarter |  | 10/10/2014 |  |  | 0.014227 |  |  |  | 0.022798 |  |  |  | 0.117975 |  |  |  | 0.155000 |
4th quarter |  | 1/6/2015 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  |  | $ | 0.055072 |  |  | $ | 0.088250 |  |  | $ | 0.456678 |  |  | $ | 0.600000 |
2013 Dividends |  | Date Paid |  | Gross Ordinary Income |  |  | Capital Gain Distributions |  |  | Return of Capital |  |  | Total Dividends |
4th quarter 2012 |  | 1/4/2013 |  | $ | 0.003589 |  |  | $ | — |  |  | $ | 0.116411 |  |  | $ | 0.120000 |
1st quarter |  | 4/2/2013 |  |  | 0.004038 |  |  |  | — |  |  |  | 0.130962 |  |  |  | 0.135000 |
2nd quarter |  | 7/2/2013 |  |  | 0.004038 |  |  |  | — |  |  |  | 0.130962 |  |  |  | 0.135000 |
3rd quarter |  | 10/8/2013 |  |  | 0.004038 |  |  |  | — |  |  |  | 0.130962 |  |  |  | 0.135000 |
4th quarter |  | 1/7/2014 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  |  | $ | 0.015703 |  |  | $ | — |  |  | $ | 0.509297 |  |  | $ | 0.525000 |
2012 Dividends |  | Date Paid |  | Gross Ordinary Income |  |  | Capital Gain Distributions |  |  | Return of Capital |  |  | Total Dividends |
4th quarter 2011 |  | 1/6/2012 |  | $ | — |  |  | $ | 0.012200 |  |  | $ | 0.067800 |  |  | $ | 0.080000 |
1st quarter |  | 4/3/2012 |  |  | — |  |  |  | 0.018300 |  |  |  | 0.101700 |  |  |  | 0.120000 |
2nd quarter |  | 7/6/2012 |  |  | — |  |  |  | 0.018300 |  |  |  | 0.101700 |  |  |  | 0.120000 |
3rd quarter |  | 10/2/2012 |  |  | — |  |  |  | 0.018300 |  |  |  | 0.101700 |  |  |  | 0.120000 |
4th quarter |  | 1/4/2013 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  |  | $ | — |  |  | $ | 0.067100 |  |  | $ | 0.372900 |  |  | $ | 0.440000 |
Puerto Rico [Member] |
Income Taxes [Line Items] |
Summary of Combined Activity and Taxable Activity |
|  | For the Year Ended December 31, |
Puerto Rico |  | 2014 |  |  | 2013 |  |  | 2012 |
Book loss before income taxes |  | $ | (11,040 | ) |  | $ | (9,919 | ) |  | $ | (19,738 | )
Current |  | $ | — |  |  | $ | 673 |  |  | $ | — |
Deferred |  |  | — |  |  |  | — |  |  |  | — |
Total expense |  | $ | — |  |  | $ | 673 |  |  | $ | — |
Summary of Differences Between Total Income Tax Expense Statutory Federal Income Tax Rate | The differences between total income tax expense or benefit and the amount computed by applying the statutory income tax rate to income before taxes with respect to its TRS activity and its Puerto Rico activity were as follows (in thousands):
|  | For the Year Ended December 31, |
Puerto Rico |  | 2014 |  |  | 2013 |  |  | 2012 |
Statutory rate of 39%(A) applied to pre-tax loss |  | $ | (4,306 | ) |  | $ | (3,869 | ) |  | $ | (5,921 | )
Valuation allowance increase |  |  | 4,194 |  |  |  | 6,714 |  |  |  | 7,049 |
Statutory rate increase |  |  | — |  |  |  | (2,189 | ) |  |  | — |
Other |  |  | 112 |  |  |  | 17 |  |  |  | (1,128 | )
Total expense |  | $ | — |  |  | $ | 673 |  |  | $ | — |
Effective tax rate |  |  | 0.00 | % |  |  | (6.79 | )% |  |  | 0.00 | %
(A) | Act No. 40-2013, the “Tax Burden Redistribution and Adjustment Act,” was passed on June 30, 2013, which increased the corporate statutory rate in Puerto Rico from 30% to 39% retroactive to January 1, 2013.
TRS [Member] |
Income Taxes [Line Items] |
Summary of Combined Activity and Taxable Activity | The following represents the combined activity of the Company’s TRS and its taxable activity in Puerto Rico (in thousands):
|  | For the Year Ended December 31, |
TRS |  | 2014 |  |  | 2013 |  |  | 2012 |
Book income (loss) before income taxes |  | $ | 12,104 |  |  | $ | 6,705 |  |  | $ | (16,934 | )
Current |  | $ | — |  |  | $ | — |  |  | $ | — |
Deferred |  |  | — |  |  |  | — |  |  |  | — |
Total expense |  | $ | — |  |  | $ | — |  |  | $ | — |

X
- Details
Name: | ddr_IncomeTaxesLineItems
Namespace Prefix: | ddr_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of reconciliation of dividends paid and deductible dividends. + References No definition available. + Details
Name: | ddr_ScheduleOfReconciliationOfDividendsPaidAndDeductibleDividendsTableTextBlock
Namespace Prefix: | ddr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of taxable income reconciliation. + References No definition available. + Details
Name: | ddr_ScheduleOfTaxableIncomeReconciliationTableTextBlock
Namespace Prefix: | ddr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of tax characterization of common share dividends per share as reported to shareholders. + References No definition available. + Details
Name: | ddr_SummaryOfTaxCharacterizationOfCommonShareDividendsPerShareAsReportedToShareholdersTableTextBlock
Namespace Prefix: | ddr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=us-gaap_SubsidiariesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementGeographicalAxis=country_PR
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |