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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Line Items]

Summary of Differences Between Total Income Tax Expense Statutory Federal Income Tax Rate

The differences between total income tax expense 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		2015				2014				2013
Statutory rate of 34% applied to pre-tax (loss) income		$	(492	)		$	4,115			$	2,280
Effect of state and local income taxes, net of federal tax benefit			(72	)			605				335
Valuation allowance decrease			(1,169	)			(6,144	)			(1,725	)
Other			1,733				1,424				(890	)
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,
	2015				2014				2013
Deferred tax assets – TRS	$	65,891			$	67,085			$	73,182
Deferred tax assets – Puerto Rico	N/A					53,394				50,061
Deferred tax liabilities – TRS		(514	)			(539	)			(492	)
Deferred tax liabilities – Puerto Rico	N/A					(35,437	)			(36,298	)
Valuation allowance – TRS		(65,377	)			(66,546	)			(72,690	)
Valuation allowance – Puerto Rico	N/A					(17,957	)			(13,763	)
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 (loss) income attributable to DDR to taxable income is as follows (in thousands):

	For the Year Ended December 31,
	2015				2014				2013
GAAP net (loss) income attributable to DDR	$	(72,168	)		$	117,282			$	(10,175	)
Plus: Book depreciation and amortization(A)		385,696				341,391				296,008
Less: Tax depreciation and amortization(A)		(228,882	)			(210,850	)			(194,889	)
Book/tax differences on losses from capital transactions		(149,507	)			(313,855	)			(148,066	)
Joint venture equity in earnings, net(A)		8,491				97,323				15,659
Deferred income		(4,293	)			(12,545	)			4,910
Compensation expense		(18,879	)			(6,103	)			(5,626	)
Impairment charges		280,930				68,703				73,577
Senior convertible notes – accretion adjustment		9,954				11,377				10,789
Senior convertible notes – repurchase premium		(52,390	)			—				—
Puerto Rico tax prepayment		(16,812	)			—				—
Miscellaneous book/tax differences, net		(10,204	)			(14,745	)			(9,268	)
Taxable income before adjustments		131,936				77,978				32,919
Less: Capital gains		—				(48,015	)			—
Taxable income subject to the 90% dividend requirement	$	131,936			$	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, 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,
	2015				2014				2013
Dividends paid	$	264,243			$	239,294			$	193,101
Plus: Deemed dividends on convertible debt		14,159				12,026				9,987
Less: Dividends designated to prior year		(5,594	)			(6,608	)			(7,030	)
Plus: Dividends designated from the following year		5,594				5,594				6,608
Less: Return of capital		(146,466	)			(172,328	)			(169,747	)
Dividends paid deduction	$	131,936			$	77,978			$	32,919

Puerto Rico [Member]

Income Taxes [Line Items]

Summary of Combined Activity and Taxable Activity

				For the Year Ended December 31,
Puerto Rico				2014				2013
Book loss before income taxes				$	(11,040	)		$	(9,919	)
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 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
Statutory rate of 39% applied to pre-tax loss				$	(4,306	)		$	(3,869	)
Valuation allowance increase					4,194				6,714
Statutory rate decrease (increase)					—				(2,189	)
Other					112				17
Total expense				$	—			$	673
Effective tax rate					0.00	%			(6.79	)%

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		2015				2014				2013
Book (loss) income before income taxes		$	(1,446	)		$	12,104			$	6,705
Current		$	—			$	—			$	—
Deferred			—				—				—
Total expense		$	—			$	—			$	—

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