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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues from operations:        
Minimum rents $ 138,973 $ 124,491 $ 402,476 $ 373,452
Percentage and overage rents 360 1,042 2,471 3,530
Recoveries from tenants 43,170 40,566 128,142 125,726
Fee and other income 22,480 20,992 58,986 60,408
Total revenue from operations 204,983 187,091 592,075 563,116
Rental operation expenses:        
Operating and maintenance 32,389 32,051 96,765 100,278
Real estate taxes 25,795 25,039 76,525 74,938
Impairment charges 8,258 46,168 90,161 50,835
General and administrative 18,547 17,954 56,691 65,310
Depreciation and amortization 61,276 53,511 184,176 158,513
Total rental operation expenses 146,265 174,723 504,318 449,874
Other income (expense):        
Interest income 5,661 2,460 9,829 7,679
Interest expense (55,245) (55,921) (165,768) (168,471)
Loss on debt retirement 0 (134) (13,495) (134)
Gain on equity derivative instruments     0 21,926
Other (expense) income, net (1,884) 181 (7,143) (4,825)
Total other income (expense) (51,468) (53,414) (176,577) (143,825)
Income (loss) before earnings from equity method investments and other items 7,250 (41,046) (88,820) (30,583)
Equity in net income (loss) of joint ventures 5,486 (2,590) 16,966 15,951
Impairment of joint venture investments (26,111) [1] 0 [1] (26,671) [1] (1,671) [1]
Gain on change in control of interests 40,645 0 79,993 22,710
Income (loss) before tax expense of taxable REIT subsidiaries and state franchise and income taxes 27,270 (43,636) (18,532) 6,407
Tax expense of taxable REIT subsidiaries and state franchise and income taxes (264) (291) (812) (1,008)
Income (loss) from continuing operations 27,006 (43,927) (19,344) 5,399
Loss from discontinued operations (401) (9,766) (12,211) (38,431)
Income (loss) before gain on disposition of real estate 26,605 (53,693) (31,555) (33,032)
Gain on disposition of real estate, net of tax 261 7,011 6,161 8,460
Net income (loss) 26,866 (46,682) (25,394) (24,572)
Non-controlling interests (128) 3,693 (424) 3,512
Net income (loss) attributable to DDR 26,738 (42,989) (25,818) (21,060)
Write-off of preferred share original issuance costs (5,804) 0 (5,804) (6,402)
Preferred dividends (7,681) (6,967) (21,616) (24,620)
Net income (loss) attributable to DDR common shareholders $ 13,253 $ (49,956) $ (53,238) $ (52,082)
Basic earnings per share data:        
Income (loss) from continuing operations attributable to DDR common shareholders $ 0.04 $ (0.15) $ (0.15) $ (0.05)
Loss from discontinued operations attributable to DDR common shareholders $ 0.00 $ (0.03) $ (0.04) $ (0.15)
Net income (loss) attributable to DDR common shareholders $ 0.04 $ (0.18) $ (0.19) $ (0.20)
Diluted earnings per share data:        
Income (loss) from continuing operations attributable to DDR common shareholders $ 0.04 $ (0.15) $ (0.15) $ (0.14)
Loss from discontinued operations attributable to DDR common shareholders $ 0.00 $ (0.03) $ (0.04) $ (0.14)
Net income (loss) attributable to DDR common shareholders $ 0.04 $ (0.18) $ (0.19) $ (0.28)
[1] Represents "other than temporary impairment" charges on unconsolidated joint venture investments. The Company recorded a $26.1 million charge in the third quarter related to its interest in the Coventry II DDR Montgomery Farm LLC joint venture which owns a mixed-use project located in Allen, TX. The Company determined that its investment had suffered an other than temporary impairment during the quarter due to deteriorating relations between the lender and the Company's partner and the resulting impact on the asset's value. In September 2012, the Company satisfied its remaining guaranty of the construction loan. However, the joint venture remains in monetary default under the construction loan agreement. The Coventry II Fund continues to explore strategies to recapitalize the joint venture. However, the Company has no intentions to fund any of its partner's capital contributions or their share of the debt maturity of this joint venture.