ACQUISITIONS (Tables)

27 Months Ended

Sep. 30, 2012

Acquisition of Shopping Centers

which was determined to be at par due to the near term of the maturity. The acquisition cost of the seven operating shopping centers was allocated as follows (in thousands):

Assets acquired and liabilities assumed:
Land	$	103,819
Buildings		347,650
Tenant improvements		11,089
Intangible assets		69,793
		532,351
Less: Mortgage debt assumed		(25,414	)
Less: Below-market leases (A)		(18,999	)
Net assets acquired	$	487,938

^(A)  Below-market leases will be amortized over a weighted-average life of 18.3 years.

Consideration

Consideration:
Cash (including debt repaid at closing)	$	444,730
Fair value of previously held equity interests (A)		43,208
Total consideration	$	487,938

Intangible Assets Recorded in Connection With Acquisitions

Intangible assets recorded in connection with the above acquisitions included the following (in thousands) (Note 5):

			Weighted Average Amortization Period (in Years)
In-place leases (including lease origination costs and fair market value of leases) (A)	$	35,718		6.0
Tenant relations		34,075		10.6
Total intangible assets acquired	$	69,793

^(A)  Includes above-market leases valued at $8.1 million.

Unaudited Supplement to Pro Forma Operating Data

The following unaudited supplemental pro forma operating data is presented for the three- and nine-month periods ended September 30, 2012 and 2011, as if the acquisition of the seven operating properties was completed on January 1, 2011 (in thousands, except per share amounts). The unaudited supplemental pro forma operating data is not necessarily indicative of what the actual results of operations of the Company would have been assuming the transactions had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods.

	Three-Month Periods Ended September 30,						Nine-Month Periods Ended September 30,
	2012			2011			2012			2011
Pro forma revenues	$	209,499		$	202,346		$	609,865		$	612,171
Pro forma (loss) income from continuing operations	$	(13,150	)	$	36,319		$	(99,704	)	$	63,158
Pro forma loss from discontinued operations	$	(401	)	$	(9,766	)	$	(12,211	)	$	(38,431	)
Pro forma net (loss) income attributable to DDR common shareholders	$	(26,903	)	$	30,290		$	(133,598	)	$	5,677
Per share data:
Basic earnings per share data:
(Loss) income from continuing operations attributable to DDR common shareholders	$	(0.09	)	$	0.14		$	(0.42	)	$	0.16
Loss from discontinued operations attributable to DDR common shareholders		—			(0.03	)		(0.04	)		(0.14	)
Net (loss) income attributable to DDR common shareholders	$	(0.09	)	$	0.11		$	(0.46	)	$	0.02
Diluted earnings per share data:
(Loss) income from continuing operations attributable to DDR common shareholders	$	(0.09	)	$	0.14		$	(0.42	)	$	0.08
Loss from discontinued operations attributable to DDR common shareholders		—			(0.03	)		(0.04	)		(0.14	)
Net (loss) income attributable to DDR common shareholders	$	(0.09	)	$	0.11		$	(0.46	)	$	(0.06	)