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Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net Income from Continuing Operations and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table calculates the Company’s earnings per share (“EPS”) and provides a reconciliation of net income from continuing operations and the number of common shares used in the computations of “basic” EPS, which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts):

 

 

Three-Month Periods

Ended September 30,

 

 

Nine-Month Periods

Ended September 30,

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

Numerators – Basic and Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

$

6,313

 

 

$

1,124

 

 

$

53,655

 

 

$

10,696

 

Plus: Gain on disposition of real estate

 

2,262

 

 

 

1,929

 

 

 

2,645

 

 

 

347

 

Plus: Income (loss) attributable to non-controlling interests

 

2,125

 

 

 

(136

)

 

 

1,623

 

 

 

(443

)

Write-off of preferred share original issuance costs

 

—

 

 

 

—

 

 

 

(1,943

)

 

 

(5,246

)

Preferred dividends

 

(5,594

)

 

 

(6,608

)

 

 

(18,460

)

 

 

(21,113

)

Less: Earnings attributable to unvested shares and operating

   partnership units

 

(463

)

 

 

(330

)

 

 

(1,238

)

 

 

(1,052

)

Income (loss) from continuing operations

 

4,643

 

 

 

(4,021

)

 

 

36,282

 

 

 

(16,811

)

Discontinued Operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from discontinued operations

 

57,906

 

 

 

(3,258

)

 

 

68,697

 

 

 

(27,872

)

Plus: (Loss) income attributable to non-controlling interests

 

—

 

 

 

(34

)

 

 

1,362

 

 

 

(113

)

Net income (loss) attributable to DDR common shareholders

   after allocation to participating securities

$

62,549

 

 

$

(7,313

)

 

$

106,341

 

 

$

(44,796

)

Denominators – Number of Shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic—Average shares outstanding

 

358,025

 

 

 

318,184

 

 

 

357,824

 

 

 

316,146

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

487

 

 

 

—

 

 

 

468

 

 

 

—

 

Diluted—Average shares outstanding

 

358,512

 

 

 

318,184

 

 

 

358,292

 

 

 

316,146

 

Basic Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to DDR

   common shareholders

$

0.01

 

 

$

(0.01

)

 

$

0.10

 

 

$

(0.05

)

Income (loss) from discontinued operations attributable to DDR

   common shareholders

 

0.16

 

 

 

(0.01

)

 

 

0.20

 

 

 

(0.09

)

Net income (loss) attributable to DDR common shareholders

$

0.17

 

 

$

(0.02

)

 

$

0.30

 

 

$

(0.14

)

Diluted Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to DDR

   common shareholders

$

0.01

 

 

$

(0.01

)

 

$

0.10

 

 

$

(0.05

)

Income (loss) from discontinued operations attributable to DDR

   common shareholders

 

0.16

 

 

 

(0.01

)

 

 

0.20

 

 

 

(0.09

)

Net income (loss) attributable to DDR common shareholders

$

0.17

 

 

$

(0.02

)

 

$

0.30

 

 

$

(0.14

)