XML 37 R24.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Investments in and Advances to Joint Ventures (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2018
Schedule Of Equity Method Investments [Line Items] |
Service Fees and Income Earned by Company | Service fees and income earned by the Company through management, leasing and development activities performed related to all of the Company’s unconsolidated joint ventures and interest income on its preferred interests in the BRE DDR Retail Holdings joint ventures are as follows (in millions):
| Three Months |  |  | Six Months |
| Ended June 30, |  |  | Ended June 30, |
| 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Revenue from contracts with customers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset and property management fees | $ | 4.9 |  |  | $ | 6.0 |  |  | $ | 10.5 |  |  | $ | 12.2 |
Development fees and leasing commissions |  | 1.6 |  |  |  | 1.9 |  |  |  | 3.5 |  |  |  | 4.4 |
Total revenue from contracts with customers |  | 6.5 |  |  |  | 7.9 |  |  |  | 14.0 |  |  |  | 16.6 |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | 4.8 |  |  |  | 6.3 |  |  |  | 9.8 |  |  |  | 13.8 |
Other |  | 0.7 |  |  |  | 0.7 |  |  |  | 1.2 |  |  |  | 1.4 |
Total fee and other income | $ | 12.0 |  |  | $ | 14.9 |  |  | $ | 25.0 |  |  | $ | 31.8 |
Summary of Terms For Unconsolidated Joint Ventures Investments | The Company’s two unconsolidated investments with The Blackstone Group L.P. (“Blackstone”), BRE DDR Retail Holdings III (“BRE DDR III”) and BRE DDR Retail Holdings IV (“BRE DDR IV” and, together with BRE DDR III, the “BRE DDR Joint Ventures”), have substantially similar terms and are summarized as follows (in millions, except properties owned):
|  |  | Common Equity |  |  | Preferred Investment (Principal) |  |  | Properties Owned |
| Formation |  | Initial |  |  | Initial |  |  | June 30, 2018 |  |  | Net of Reserve |  |  | Inception |  |  | June 30, 2018 |
BRE DDR III | Oct 2014 |  | $ | 19.6 |  |  | $ | 300.0 |  |  | $ | 219.9 |  |  | $ | 171.2 |  |  |  | 70 |  |  |  | 28 |
BRE DDR IV | Dec 2015 |  |  | 12.9 |  |  |  | 82.6 |  |  |  | 66.7 |  |  |  | 52.0 |  |  |  | 6 |  |  |  | 5 |
|  |  |  |  |  |  | $ | 382.6 |  |  | $ | 286.6 |  |  | $ | 223.2 |  |  |  |  |  |  |  |  |
Unconsolidated Joint Ventures [Member] |
Schedule Of Equity Method Investments [Line Items] |
Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments | At June 30, 2018 and December 31, 2017, the Company had ownership interests in various unconsolidated joint ventures that had an investment in 114 and 136 shopping center properties, respectively. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands):
| June 30, 2018 |  |  | December 31, 2017 |
Condensed Combined Balance Sheets |  |  |  |  |  |  |
Land | $ | 1,008,195 |  |  | $ | 1,126,703 |
Buildings |  | 2,748,883 |  |  |  | 3,057,072 |
Fixtures and tenant improvements |  | 208,000 |  |  |  | 213,989 |
|  | 3,965,078 |  |  |  | 4,397,764 |
Less: Accumulated depreciation |  | (947,136 | ) |  |  | (962,038 | )
|  | 3,017,942 |  |  |  | 3,435,726 |
Construction in progress and land |  | 54,151 |  |  |  | 53,928 |
Real estate, net |  | 3,072,093 |  |  |  | 3,489,654 |
Cash and restricted cash |  | 96,207 |  |  |  | 155,894 |
Receivables, net |  | 47,081 |  |  |  | 51,396 |
Other assets, net |  | 138,678 |  |  |  | 174,832 |
| $ | 3,354,059 |  |  | $ | 3,871,776 |
Mortgage debt | $ | 2,189,888 |  |  | $ | 2,501,163 |
Notes and accrued interest payable to the Company |  | 2,156 |  |  |  | 1,365 |
Other liabilities |  | 136,926 |  |  |  | 156,076 |
|  | 2,328,970 |  |  |  | 2,658,604 |
Redeemable preferred equity – DDR |  | 300,757 |  |  |  | 345,149 |
Accumulated equity |  | 724,332 |  |  |  | 868,023 |
| $ | 3,354,059 |  |  | $ | 3,871,776 |
Company's share of accumulated equity | $ | 115,644 |  |  | $ | 132,710 |
Redeemable preferred equity, net(A) |  | 228,077 |  |  |  | 277,776 |
Basis differentials |  | (21,882 | ) |  |  | (24,973 | )
Deferred development fees, net of portion related to the Company's interest |  | (2,891 | ) |  |  | (3,065 | )
Amounts payable to the Company |  | 2,156 |  |  |  | 1,365 |
Investments in and Advances to Joint Ventures, net | $ | 321,104 |  |  | $ | 383,813 |
(A) | Includes PIK that has accrued since March 2017 of $9.3 million and $6.3 million, which was fully reserved at June 30, 2018 and December 31, 2017, respectively.
Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments |
| Three Months |  |  | Six Months |
| Ended June 30, |  |  | Ended June 30, |
| 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Condensed Combined Statements of Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from operations(A) | $ | 107,759 |  |  | $ | 126,528 |  |  | $ | 222,284 |  |  | $ | 253,576 |
Expenses from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 32,314 |  |  |  | 37,691 |  |  |  | 66,695 |  |  |  | 74,359 |
Impairment charges |  | — |  |  |  | 27,850 |  |  |  | 16,910 |  |  |  | 80,507 |
Depreciation and amortization |  | 37,299 |  |  |  | 47,589 |  |  |  | 76,976 |  |  |  | 92,685 |
Interest expense |  | 24,946 |  |  |  | 29,004 |  |  |  | 49,189 |  |  |  | 59,134 |
Preferred share expense |  | 6,317 |  |  |  | 8,239 |  |  |  | 12,825 |  |  |  | 16,367 |
Other (income) expense, net |  | 6,616 |  |  |  | 9,054 |  |  |  | 14,037 |  |  |  | 15,627 |
|  | 107,492 |  |  |  | 159,427 |  |  |  | 236,632 |  |  |  | 338,679 |
Income (loss) from continuing operations |  | 267 |  |  |  | (32,899 | ) |  |  | (14,348 | ) |  |  | (85,103 | )
Gain (loss) on disposition of real estate, net |  | 12,356 |  |  |  | (803 | ) |  |  | 50,376 |  |  |  | (976 | )
Net income (loss) attributable to unconsolidated joint ventures | $ | 12,623 |  |  | $ | (33,702 | ) |  | $ | 36,028 |  |  | $ | (86,079 | )
Company's share of equity in net income (loss) of joint ventures | $ | 3,506 |  |  | $ | (1,090 | ) |  | $ | 11,979 |  |  | $ | (6,383 | )
Basis differential adjustments(B) |  | 315 |  |  |  | 373 |  |  |  | 628 |  |  |  | 4,001 |
Equity in net income (loss) of joint ventures | $ | 3,821 |  |  | $ | (717 | ) |  | $ | 12,607 |  |  | $ | (2,382 | )
(A) | Revenue from operations is subject to leasing or other standards.
(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, unrecognized preferred PIK, the recognition of deferred gains, differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges.

X
- Definition Summary of terms for unconsolidated joint venture investments. + References No definition available. + Details
Name: | ddr_SummaryOfTermsForUnconsolidatedJointVentureInvestmentsTableTextBlock
Namespace Prefix: | ddr_
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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.7) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfOtherNonoperatingIncomeByComponentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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