XML 57 R33.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Investments in and Advances to Joint Ventures (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Schedule Of Equity Method Investments [Line Items] |
Summary of Company's Equity Method Joint Ventures Included in Investments in and Advances | The Company’s equity method joint ventures, which are included in Investments in and Advances to Joint Ventures in the Company’s consolidated balance sheet at December 31, 2016, are as follows:
Unconsolidated Real Estate Ventures |  | Effective Ownership Percentage |  |  | Assets Owned
BRE DDR Retail Holdings III |  |  | 5% |  |  | 50 shopping centers in several states
BRE DDR Retail Holdings IV |  | 5 |  |  | 6 shopping centers in several states
DDRTC Core Retail Fund, LLC |  | 15 |  |  | 25 shopping centers in several states
DDR Domestic Retail Fund I |  | 20 |  |  | 55 shopping centers in several states
DDR – SAU Retail Fund, LLC |  | 20 |  |  | 12 shopping centers in several states
Other Joint Venture Interests |  | 26–79 |  |  | 3 shopping centers in 2 states
Service Fees and Income Earned by Company | Service fees and income earned by the Company through management, financing, leasing and development activities performed related to all of the Company’s unconsolidated joint ventures are as follows (in millions):
| For the Year Ended December 31, |
| 2016 |  |  | 2015 |  |  | 2014 |
Management and other fees | $ | 28.6 |  |  | $ | 26.0 |  |  | $ | 24.9 |
Interest income |  | 33.4 |  |  |  | 26.0 |  |  |  | 11.0 |
Development fees and leasing commissions |  | 7.5 |  |  |  | 6.8 |  |  |  | 6.4 |
Unconsolidated Joint Ventures [Member] |
Schedule Of Equity Method Investments [Line Items] |
Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments | Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands):
| December 31, |
| 2016 |  |  | 2015 |
Condensed Combined Balance Sheets |  |  |  |  |  |  |
Land | $ | 1,287,675 |  |  | $ | 1,343,889 |
Buildings |  | 3,376,720 |  |  |  | 3,551,227 |
Fixtures and tenant improvements |  | 203,824 |  |  |  | 191,581 |
|  | 4,868,219 |  |  |  | 5,086,697 |
Less: Accumulated depreciation |  | (884,356 | ) |  |  | (817,235 | )
|  | 3,983,863 |  |  |  | 4,269,462 |
Construction in progress and land |  | 56,983 |  |  |  | 52,390 |
Real estate, net |  | 4,040,846 |  |  |  | 4,321,852 |
Cash and restricted cash |  | 50,378 |  |  |  | 58,916 |
Receivables, net |  | 50,685 |  |  |  | 52,768 |
Other assets, net |  | 248,664 |  |  |  | 318,546 |
| $ | 4,390,573 |  |  | $ | 4,752,082 |
Mortgage debt | $ | 3,034,399 |  |  | $ | 3,177,603 |
Notes and accrued interest payable to the Company |  | 1,584 |  |  |  | 1,556 |
Other liabilities |  | 206,949 |  |  |  | 219,799 |
|  | 3,242,932 |  |  |  | 3,398,958 |
Redeemable preferred equity |  | 393,338 |  |  |  | 395,156 |
Accumulated equity |  | 754,303 |  |  |  | 957,968 |
| $ | 4,390,573 |  |  | $ | 4,752,082 |
Company's share of accumulated equity | $ | 97,977 |  |  | $ | 115,871 |
Redeemable preferred equity |  | 393,338 |  |  |  | 395,156 |
Basis differentials |  | (36,117 | ) |  |  | (42,402 | )
Deferred development fees, net of portion related to the Company's interest |  | (2,651 | ) |  |  | (2,449 | )
Amounts payable to the Company |  | 1,584 |  |  |  | 1,556 |
Investments in and Advances to Joint Ventures | $ | 454,131 |  |  | $ | 467,732 |
Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments |
| For the Year Ended December 31, |
| 2016 |  |  | 2015 |  |  | 2014 |
Condensed Combined Statements of Operations |  |  |  |  |  |  |  |  |  |  |
Revenues from operations | $ | 513,365 |  |  | $ | 524,697 |  |  | $ | 485,764 |
Expenses from operations: |  |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 144,984 |  |  |  | 146,924 |  |  |  | 140,615 |
Impairment charges(A) |  | 13,598 |  |  |  | 52,700 |  |  |  | 21,583 |
Depreciation and amortization |  | 195,198 |  |  |  | 207,816 |  |  |  | 151,651 |
Interest expense |  | 132,943 |  |  |  | 140,701 |  |  |  | 171,803 |
Preferred share expense |  | 33,418 |  |  |  | 25,991 |  |  |  | 7,355 |
Other (income) expense, net |  | 23,513 |  |  |  | 30,235 |  |  |  | 37,970 |
|  | 543,654 |  |  |  | 604,367 |  |  |  | 530,977 |
Loss before tax expense and discontinued operations |  | (30,289 | ) |  |  | (79,670 | ) |  |  | (45,213 | )
Income tax expense (primarily Sonae Sierra Brasil), net |  | — |  |  |  | — |  |  |  | (6,565 | )
Loss from continuing operations |  | (30,289 | ) |  |  | (79,670 | ) |  |  | (51,778 | )
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |
Loss from discontinued operations(A) |  | — |  |  |  | — |  |  |  | (13,955 | )
Gain on disposition of real estate, net of tax |  | — |  |  |  | — |  |  |  | 55,020 |
Loss before gain on disposition of real estate, net |  | (30,289 | ) |  |  | (79,670 | ) |  |  | (10,713 | )
Gain on disposition of real estate, net |  | 57,261 |  |  |  | 17,188 |  |  |  | 10,116 |
Net income (loss) attributable to unconsolidated joint ventures | $ | 26,972 |  |  | $ | (62,482 | ) |  | $ | (597 | )
Income attributable to non-controlling interests |  | — |  |  |  | — |  |  |  | (2,022 | )
Net income (loss) attributable to unconsolidated joint ventures | $ | 26,972 |  |  | $ | (62,482 | ) |  | $ | (2,619 | )
Company's share of equity in net income (loss) of joint ventures(B) | $ | 11,650 |  |  | $ | (5,289 | ) |  | $ | 9,218 |
Basis differential adjustments(B) |  | 4,049 |  |  |  | 2,154 |  |  |  | 1,771 |
Equity in net income (loss) of joint ventures(B) | $ | 15,699 |  |  | $ | (3,135 | ) |  | $ | 10,989 |
(A) | For the years ended December 31, 2016, 2015 and 2014, the Company’s proportionate share was $2.7 million, $10.5 million and $4.4 million, respectively. Impairment charges included in discontinued operations related to asset sales were $11.1 million for the year ended December 31, 2014, of which the Company’s proportionate share was $0.8 million. The Company’s share of the impairment charges was reduced by the impact of the other than temporary impairment charges recorded on these investments, as appropriate, as discussed below. Reflected in discontinued operations are 37 properties sold in 2014.
(B) | The difference between the Company’s share of net income (loss), as reported above, and the amounts included in the Company’s consolidated statements of operations is attributable to the amortization of basis differentials, the recognition of deferred gains and differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges. The Company does not record income or loss from those investments in which its investment basis is zero. There were no such investments at December 31, 2016.

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ScheduleOfEquityMethodInvestmentsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the detailed components of other nonoperating income. May include methodology, assumptions and amounts for: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.7) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
Name: | us-gaap_ScheduleOfOtherNonoperatingIncomeByComponentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=ddr_UnconsolidatedJointVenturesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |