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: