SITE Centers (SITC) 10-Q 2 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 27, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	DDR
Entity Registrant Name	DDR CORP
Entity Central Index Key	894,315
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		365,847,291

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets
Land	$ 2,137,889	$ 2,184,145
Buildings	6,893,792	6,965,632
Fixtures and tenant improvements	756,617	743,037
Total real estate rental property	9,788,298	9,892,814
Less: Accumulated depreciation	(2,115,084)	(2,062,899)
Real estate rental property, net	7,673,214	7,829,915
Construction in progress and land	161,663	235,385
Total real estate assets, net	7,834,877	8,065,300
Investments in and advances to joint ventures	465,389	467,732
Cash and cash equivalents	17,981	22,416
Restricted cash	9,173	10,104
Accounts receivable, net	124,878	129,089
Notes receivable, net	47,294	42,534
Other assets, net	321,994	359,913
Total assets	8,821,586	9,097,088
Unsecured indebtedness:
Senior notes	2,911,277	3,149,188
Unsecured term loan	398,167	397,934
Revolving credit facilities	265,000	210,000
Total unsecured indebtedness	3,574,444	3,757,122
Secured indebtedness:
Secured term loan	199,544	199,251
Mortgage indebtedness	1,164,819	1,183,164
Total secured indebtedness	1,364,363	1,382,415
Total indebtedness	4,938,807	5,139,537
Accounts payable and other liabilities	398,909	425,478
Dividends payable	75,078	68,604
Total liabilities	5,412,794	5,633,619
Commitments and contingencies
DDR Equity
Common shares, with par value, $0.10 stated value; 600,000,000 shares authorized; 365,510,617 and 365,292,314 shares issued at June 30, 2016 and December 31, 2015, respectively	36,551	36,529
Additional paid-in capital	5,473,632	5,466,511
Accumulated distributions in excess of net income	(2,455,319)	(2,391,793)
Deferred compensation obligation	15,425	15,537
Accumulated other comprehensive loss	(5,157)	(6,283)
Less: Common shares in treasury at cost: 924,876 and 945,268 shares at June 30, 2016 and December 31, 2015, respectively	(14,919)	(15,316)
Total DDR shareholders' equity	3,400,213	3,455,185
Non-controlling interests	8,579	8,284
Total equity	3,408,792	3,463,469
Total liabilities and equity	8,821,586	9,097,088
Class J Cumulative Redeemable Preferred Shares [Member]
DDR Equity
Cumulative redeemable preferred shares	200,000	200,000
Class K Cumulative Redeemable Preferred Shares [Member]
DDR Equity
Cumulative redeemable preferred shares	$ 150,000	$ 150,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Common shares, par value	$ 0.10	$ 0.10
Common shares, shares authorized	600,000,000	600,000,000
Common shares, shares issued	365,510,617	365,292,314
Treasury at cost	924,876	945,268
Class J Cumulative Redeemable Preferred Shares [Member]
Cumulative redeemable preferred shares, liquidation value	$ 500	$ 500
Cumulative redeemable preferred shares, shares authorized	750,000	750,000
Cumulative redeemable preferred shares, shares issued	400,000	400,000
Cumulative redeemable preferred shares, shares outstanding	400,000	400,000
Preferred stock dividend rate	6.50%	6.50%
Cumulative redeemable preferred shares, par value
Class K Cumulative Redeemable Preferred Shares [Member]
Cumulative redeemable preferred shares, liquidation value	$ 500	$ 500
Cumulative redeemable preferred shares, shares authorized	750,000	750,000
Cumulative redeemable preferred shares, shares issued	300,000	300,000
Cumulative redeemable preferred shares, shares outstanding	300,000	300,000
Preferred stock dividend rate	6.25%	6.25%
Cumulative redeemable preferred shares, par value

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues from operations:
Minimum rents	$ 178,064	$ 179,363	$ 355,431	$ 360,060
Percentage and overage rents	1,654	1,372	3,590	2,757
Recoveries from tenants	61,376	62,021	122,975	126,101
Fee and other income	16,227	14,567	29,748	27,230
Total revenue from operations	257,321	257,323	511,744	516,148
Rental operation expenses:
Operating and maintenance	34,588	36,029	71,096	74,755
Real estate taxes	37,276	37,797	73,810	75,426
Impairment charges			0	279,021
General and administrative	18,499	19,271	36,375	37,866
Depreciation and amortization	97,698	99,300	194,600	202,315
Total rental operation expenses	188,061	192,397	375,881	669,383
Other income (expense):
Interest income	9,446	7,211	18,496	14,372
Interest expense	(54,012)	(61,287)	(111,909)	(124,307)
Other income (expense), net	2,081	2,368	3,854	(1,060)
Total other income (expense)	(42,485)	(51,708)	(89,559)	(110,995)
Income (loss) before earnings from equity method investments and other items	26,775	13,218	46,304	(264,230)
Equity in net income of joint ventures	1,117	1,642	15,538	1,703
Gain (loss) on sale and change in control of interests, net	0	(6,507)	0	7,772
Income (loss) before tax expense	27,892	8,353	61,842	(254,755)
Tax expense of taxable REIT subsidiaries and state franchise and income taxes	(245)	(573)	(703)	(5,473)
Income (loss) from continuing operations	27,647	7,780	61,139	(260,228)
Gain on disposition of real estate, net	13,721	11,267	26,102	36,361
Net income (loss)	41,368	19,047	87,241	(223,867)
Income attributable to non-controlling interests, net	(310)	(449)	(610)	(1,322)
Net income (loss) attributable to DDR	41,058	18,598	86,631	(225,189)
Preferred dividends	(5,594)	(5,594)	(11,188)	(11,188)
Net income (loss) attributable to common shareholders	$ 35,464	$ 13,004	$ 75,443	$ (236,377)
Per share data:
Basic	$ 0.10	$ 0.03	$ 0.21	$ (0.66)
Diluted	$ 0.10	$ 0.03	$ 0.21	$ (0.66)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 41,368	$ 19,047	$ 87,241	$ (223,867)
Other comprehensive income (loss):
Foreign currency translation	(168)	85	674	(219)
Change in fair value of interest-rate contracts	330	417	376	320
Change in cash flow hedges reclassed to earnings	172	154	344	829
Total other comprehensive income	334	656	1,394	930
Comprehensive income (loss)	41,702	19,703	88,635	(222,937)
Comprehensive (income) loss attributable to non-controlling interests:
Allocation of net income	(310)	(449)	(610)	(1,322)
Foreign currency translation	(6)	(104)	(268)	285
Total comprehensive income attributable to non-controlling interests	(316)	(553)	(878)	(1,037)
Total comprehensive income (loss) attributable to DDR	$ 41,386	$ 19,150	$ 87,757	$ (223,974)

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - 6 months ended Jun. 30, 2016 - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Additional Paid-in Capital	Accumulated Distributions in Excess of Net Income	Deferred Compensation Obligation	Accumulated Other Comprehensive Loss	Treasury Stock at Cost	Non-Controlling Interests
Balance at Dec. 31, 2015	$ 3,463,469	$ 350,000	$ 36,529	$ 5,466,511	$ (2,391,793)	$ 15,537	$ (6,283)	$ (15,316)	$ 8,284
Issuance of common shares related to stock plans	4,053	0	22	2,908	0	0	0	1,123	0
Issuance of restricted stock	0	0	0	(706)	0	714	0	(8)	0
Vesting of restricted stock	1,888	0	0	3,432	0	(826)	0	(718)	0
Stock-based compensation	1,487	0	0	1,487	0	0	0	0	0
Distributions to non-controlling interests	(583)	0	0	0	0	0	0	0	(583)
Dividends declared-common shares	(138,969)	0	0	0	(138,969)	0	0	0	0
Dividends declared-preferred shares	(11,188)	0	0	0	(11,188)	0	0	0	0
Comprehensive income	88,635	0	0	0	86,631	0	1,126	0	878
Balance at Jun. 30, 2016	$ 3,408,792	$ 350,000	$ 36,551	$ 5,473,632	$ (2,455,319)	$ 15,425	$ (5,157)	$ (14,919)	$ 8,579

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flow from operating activities:
Net income (loss)	$ 87,241	$ (223,867)
Adjustments to reconcile net income (loss) to net cash flow provided by operating activities:
Depreciation and amortization	194,600	202,315
Stock-based compensation	4,051	4,893
Amortization and write-off of deferred finance charges and fair market value of debt adjustments	1,151	(5,529)
Accretion of convertible debt discount	0	5,919
Equity in net income of joint ventures	(15,538)	(1,703)
Net gain on sale and change in control of interests	0	(7,772)
Operating cash distributions from joint ventures	3,779	4,021
Gain on disposition of real estate	(26,102)	(36,361)
Impairment charges	0	279,021
Change in notes receivable accrued interest	(5,502)	(4,175)
Change in restricted cash	1,901	1,591
Net change in accounts receivable	2,619	1,327
Net change in accounts payable and accrued expenses	(4,357)	11,763
Net change in other operating assets and liabilities	(11,127)	(22,570)
Total adjustments	145,475	432,740
Net cash flow provided by operating activities	232,716	208,873
Cash flow from investing activities:
Real estate acquired, net of liabilities and cash assumed	(59,886)	(105,846)
Real estate developed and improvements to operating real estate	(91,116)	(132,595)
Proceeds from disposition of real estate	243,220	158,122
Distributions from unconsolidated joint ventures	20,510	6,940
Equity contributions to joint ventures	(1,406)	(134)
Issuance of notes receivable	(4,611)	0
Repayment of notes receivable	305	9,275
Change in restricted cash	(905)	582
Net cash flow provided by (used for) investing activities	106,111	(63,656)
Cash flow from financing activities:
Proceeds from revolving credit facilities, net	55,000	213,513
Proceeds from issuance of senior notes, net of underwriting commissions and offering expenses	0	491,972
Repayment of senior notes	(240,000)	(152,996)
Proceeds from unsecured term loan	0	300,000
Repayment of term loans and mortgage debt	(15,750)	(857,396)
Payment of debt issuance costs	(41)	(4,540)
Issuance of common shares in conjunction with equity award plans and dividend reinvestment plan	1,785	3,321
Distributions to non-controlling interests and redeemable operating partnership units	(575)	(5,591)
Dividends paid	(143,684)	(129,333)
Net cash flow used for financing activities	(343,265)	(141,050)
Cash and cash equivalents:
(Decrease) increase in cash and cash equivalents	(4,438)	4,167
Effect of exchange rate changes on cash and cash equivalents	3	164
Cash and cash equivalents, beginning of year	22,416	20,937
Cash and cash equivalents, end of period	$ 17,981	$ 25,268

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business and Financial Statement Presentation	1. Nature of Business and Financial Statement Presentation Nature of Business DDR Corp. and its related consolidated real estate subsidiaries (collectively, the “Company” or “DDR”) and unconsolidated joint ventures are primarily engaged in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, the Company engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers. Unless otherwise provided, references herein to the Company or DDR include DDR Corp., its wholly-owned and majority-owned subsidiaries and its consolidated joint ventures. The Company’s tenant base primarily includes national and regional retail chains and local retailers. Consequently, the Company’s credit risk is concentrated in the retail industry. Use of Estimates in Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. Unaudited Interim Financial Statements These financial statements have been prepared by the Company in accordance with generally accepted accounting principles for interim financial information and the applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all information and footnotes required by generally accepted accounting principles for complete financial statements. However, in the opinion of management, the interim financial statements include all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the results of the periods presented. The results of operations for the three and six months ended June 30, 2016 and 2015, are not necessarily indicative of the results that may be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . Principles of Consolidation The condensed consolidated financial statements include the results of the Company and all entities in which the Company has a controlling interest or has been determined to be the primary beneficiary of a variable interest entity (“VIE”). All significant inter-company balances and transactions have been eliminated in consolidation. Investments in real estate joint ventures and companies in which the Company has the ability to exercise significant influence, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or loss) of these joint ventures and companies is included in consolidated net income (loss). The Company adopted Accounting Standards Update (“ASU”) No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis Statements of Cash Flows and Supplemental Disclosure of Non-Cash Investing and Financing Information Non-cash investing and financing activities are summarized as follows (in millions): Six Months Ended June 30, 2016 2015 Accounts payable related to construction in progress $ 20.8 $ 46.3 Dividends declared 75.1 67.9 Mortgages assumed from acquisitions — 33.7 Elimination of a previously held equity interest — 1.4 Fee and Other Income Fee and other income was composed of the following (in millions): Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Management and other fee income $ 11.4 $ 8.4 $ 19.6 $ 16.5 Ancillary and other property income 4.5 4.7 8.6 8.8 Lease termination fees 0.3 1.4 1.5 1.6 Other — 0.1 — 0.3 Total fee and other income $ 16.2 $ 14.6 $ 29.7 $ 27.2 New Accounting Standards To Be Adopted Accounting for Leases In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-02, Leases (Topic-842). Leases Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers Business Combinations In September 2015, the FASB issued guidance pertaining to entities that have reported provisional amounts for items in a business combination for which the accounting is incomplete by the end of the reporting period in which the combination occurs and during the measurement period have an adjustment to provisional amounts recognized. The guidance requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Any adjustments should be calculated as if the accounting had been completed at the acquisition date. The guidance is effective for public companies for fiscal years beginning after December 15, 2016, with early adoption permitted. Application of the guidance is prospective. Derivatives and Hedging In March 2016, the FASB issued ASU No. 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the Emerging Issues Task Force) Transition to Equity Method Accounting In March 2016, the FASB issued ASU No. 2016-07, Simplifying the Transition to the Equity Method of Accounting, Share-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.

Investments in and Advances to

Investments in and Advances to Joint Ventures	6 Months Ended
	Jun. 30, 2016
Equity Method Investments And Joint Ventures [Abstract]
Investments in and Advances to Joint Ventures	2. Investments in and Advances to Joint Ventures At June 30, 2016 and December 31, 2015, the Company had ownership interests in various unconsolidated joint ventures that had an investment in 157 and 168 shopping center properties, respectively. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands): June 30, 2016 December 31, 2015 Condensed Combined Balance Sheets Land $ 1,306,704 $ 1,343,889 Buildings 3,449,494 3,551,227 Fixtures and tenant improvements 192,647 191,581 4,948,845 5,086,697 Less: Accumulated depreciation (840,227 ) (817,235 ) 4,108,618 4,269,462 Land held for development and construction in progress 58,654 52,390 Real estate, net 4,167,272 4,321,852 Cash and restricted cash 69,815 58,916 Receivables, net 48,568 52,768 Other assets 286,501 318,546 $ 4,572,156 $ 4,752,082 Mortgage debt $ 3,118,908 $ 3,177,603 Notes and accrued interest payable to the Company 2,555 1,556 Other liabilities 223,109 219,799 3,344,572 3,398,958 Redeemable preferred equity – 400,203 395,156 Accumulated equity 827,381 957,968 $ 4,572,156 $ 4,752,082 Company's share of accumulated equity $ 104,500 $ 115,871 Redeemable preferred equity 400,203 395,156 Basis differentials (39,325 ) (42,402 ) Deferred development fees, net of portion related to the Company's interest (2,531 ) (2,449 ) Amounts payable to the Company 2,542 1,556 Investments in and Advances to Joint Ventures $ 465,389 $ 467,732 Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Condensed Combined Statements of Operations Revenues from operations $ 128,890 $ 133,066 $ 256,800 $ 270,666 Expenses from operations: Operating expenses 36,973 36,090 74,629 75,056 Impairment charges — — — 448 Depreciation and amortization 49,021 51,482 98,056 108,219 Interest expense 33,319 33,593 66,641 74,496 Preferred share expense 8,305 6,415 16,569 12,729 Other expense (income), net 6,319 6,126 12,130 12,195 133,937 133,706 268,025 283,143 (5,047 ) (640 ) (11,225 ) (12,477 ) Gain (loss) on disposition of real estate, net 114 (1,358 ) 53,597 (1,571 ) Net (loss) income attributable to unconsolidated joint ventures $ (4,933 ) $ (1,998 ) $ 42,372 $ (14,048 ) Company's share of equity in net income of joint ventures $ 817 $ 1,317 $ 12,091 $ 1,070 Basis differential adjustments (A) 300 325 3,447 633 Equity in net income of joint ventures $ 1,117 $ 1,642 $ 15,538 $ 1,703 ( A ) The difference between the Company’s share of net income, 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. 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 are as follows (in millions): Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Management and other fees $ 9.6 $ 6.5 $ 15.8 $ 12.8 Development fees and leasing commissions 1.8 1.6 3.7 3.2 Interest income 8.3 6.4 16.6 12.7 The Company’s joint venture agreements generally include provisions whereby each partner has the right to trigger a purchase or sale of its interest in the joint venture or to initiate a purchase or sale of the properties after a certain number of years or if either party is in default of the joint venture agreements. The Company is not obligated to purchase the interests of its outside joint venture partners under these provisions. Disposition of Shopping Centers In the first quarter of 2016, one of the Company’s joint ventures sold 11 assets for an aggregate sale price of $170.5 million and recorded a gain on sale of $53.4 million, of which the Company’s share was $13.5 million.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Acquisitions	3. Acquisitions In February 2016, the Company acquired one power center in Phoenix, Arizona, valued at $60.5 million. The fair value of the acquisition was allocated as follows (in thousands): Weighted-Average Amortization Period (in Years) Land $ 11,859 N/A Buildings 41,433 (A) Tenant improvements 1,184 (A) In-place leases (including lease origination costs and fair market value of leases) 6,125 4.5 Tenant relations 2,607 8.1 63,208 Less: Below-market leases (2,968 ) 16.7 Less: Other liabilities assumed (354 ) N/A Net assets acquired $ 59,886 (A) Depreciated in accordance with the Company’s policy. The Company’s consideration of $59.9 million was paid in cash. The costs related to the acquisition of this asset were expensed as incurred and included in Other Income (Expense), Net in the Company’s consolidated statement of operations, at June 30, 2016. Such amounts were considered immaterial. Included in the Company’s consolidated statements of operations are $2.2 million and $2.1 million in total revenues from the date of acquisition through June 30, 2016 and 2015, respectively, for the acquired properties.

Other Assets, Net

Other Assets, Net	6 Months Ended
	Jun. 30, 2016
Other Assets [Abstract]
Other Assets, Net	4. Other Assets, Net Other assets consist of the following (in thousands): June 30, 2016 December 31, 2015 Intangible assets: In-place leases, net $ 112,334 $ 130,330 Above-market leases, net 40,126 46,214 Tenant relations, net 119,022 134,504 Total intangible assets, net (A) 271,482 311,048 Other assets: Prepaid expenses 32,421 28,923 Other assets 5,766 6,293 Deposits 6,903 7,536 Deferred charges, net 5,422 6,113 Total other assets, net $ 321,994 $ 359,913 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below- market leases, of $21.3 million and $23.0 million for the three months ended June 30, 2016 and 2015, respectively, and $40.8 million and $48.6 million for the six months ended June 30, 2016 and 2015, respectively.

Revolving Credit Facilities

Revolving Credit Facilities	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Revolving Credit Facilities	5. Revolving Credit Facilities The following table discloses certain information regarding the Company’s Revolving Credit Facilities (as defined below) (in millions): Carrying Value at June 30, 2016 Weighted-Average Interest Rate (A) June 30, 2016 Maturity Date Unsecured Credit Facility $ 265.0 1.5% June 2019 PNC Facility — N/A June 2019 (A) Interest rate on variable-rate debt was calculated using the base rate and spreads in effect at June 30, 2016. The Company maintains an unsecured revolving credit facility with a syndicate of financial institutions, arranged by J.P. Morgan Securities, LLC and Wells Fargo Securities, LLC (the “Unsecured Credit Facility”). The Unsecured Credit Facility provides for borrowings of up to $750 million, if certain financial covenants are maintained, two six-month options to extend the maturity to June 2020 upon the Company’s request and an accordion feature for expansion of availability up to $1.25 billion, provided that new or existing lenders agree to the existing terms of the facility and increase their commitment level. The Unsecured Credit Facility includes a competitive bid option on periodic interest rates for up to 50% of the facility. The Unsecured Credit Facility also provides for an annual facility fee, which was 20 basis points on the entire facility at June 30, 2016. The Unsecured Credit Facility also allows for foreign currency-denominated borrowings. The Company also maintains a $50 million unsecured revolving credit facility with PNC Bank, National Association (the “PNC Facility” and, together with the Unsecured Credit Facility, the “Revolving Credit Facilities”). The PNC Facility terms are consistent with those contained in the Unsecured Credit Facility. The Company’s borrowings under the Revolving Credit Facilities bear interest at variable rates at the Company’s election, based on either (i) the prime rate plus a specified spread (0.15% at June 30, 2016), as defined in the respective facility, or (ii) LIBOR plus a specified spread (1.0% at June 30, 2016). The specified spreads vary depending on the Company’s long-term senior unsecured debt rating from Moody’s Investors Service and Standard & Poor’s. The Company is required to comply with certain covenants under the Revolving Credit Facilities relating to total outstanding indebtedness, secured indebtedness, maintenance of unencumbered real estate assets and fixed charge coverage. The Company was in compliance with these financial covenants at June 30, 2016.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements The following methods and assumptions were used by the Company in estimating fair value disclosures of financial instruments. Notes Receivable and Advances to Affiliates The fair value is estimated using a discounted cash flow analysis in which the Company uses unobservable inputs or assumptions such as market interest rates determined by the loan to value and market capitalization rates related to the underlying collateral at which management believes similar loans would be made and classified as Level 3 in the fair value hierarchy. The fair value of these notes was approximately $450.7 million and $441.5 million at June 30, 2016 and December 31, 2015, respectively, as compared to the carrying amounts of $447.5 million and $437.6 million, respectively. Debt The fair market value of senior notes is determined using the trading price of the Company’s public debt. The fair market value for all other debt is estimated using a discounted cash flow technique that incorporates future contractual interest and principal payments and a market interest yield curve with adjustments for duration, optionality and risk profile, including the Company’s non-performance risk and loan to value. The Company’s senior notes are classified as Level 2 and all other outstanding debt is classified as Level 3 in the fair value hierarchy. Considerable judgment is necessary to develop estimated fair values of financial instruments. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. Debt instruments with carrying values that are different than estimated fair values are summarized as follows (in thousands): June 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 2,911,277 $ 3,147,137 $ 3,149,188 $ 3,292,723 Revolving Credit Facilities and term loans 862,711 866,867 807,185 811,666 Mortgage Indebtedness 1,164,819 1,222,427 1,183,164 1,235,139 $ 4,938,807 $ 5,236,431 $ 5,139,537 $ 5,339,528

Share-Based Compensation Plan

Share-Based Compensation Plan	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Share-Based Compensation Plan	7 . Share-Based Compensation Plan 2016 Value Sharing Equity Program On February 9, 2016, the Company adopted the 2016 Value Sharing Equity Program (the “ 2016 VSEP RSUs Performance Period The 2016 VSEP is designed to allow DDR to reward participants for contributing to its achieving financial performance and allow such participants to share in “Value Created” (as defined below), based upon increases in DDR’s adjusted market capitalization over its initial market capitalization using a starting share price of $17.41 per share (the “ Starting Share Price Pursuant to the award terms, on five specified measurement dates (the first date occurring on February 23, 2017, with subsequent measurement dates occurring through December 31, 2018), DDR will measure the “Value Created” during the period between the start of the 2016 VSEP and the applicable measurement date. Value Created is measured for each period for the performance awards as the increase in DDR’s market capitalization on the applicable measurement date ( i.e. Each participant has been assigned a “percentage share” of the Value Created for the performance awards, and the aggregate percentage share for all participants for the performance awards is (1) 1.4909% if the ending share price for the applicable measurement period is $19.58 or lower, and (2) 1.6089% if the ending share price for the applicable measurement period is above $19.58. In addition, each participant’s aggregate total share of Value Created for the performance awards is capped at an individual maximum dollar limit. After the first measurement date, each participant may earn “performance award shares” (settled as discussed below) with an aggregate value equal to two-sixths of the participant’s percentage share of the Value Created for this award. After each of the next three measurement dates, each participant may earn performance award shares with an aggregate value equal to three-sixths, then four-sixths and then five-sixths, respectively, of the participant’s percentage share of the Value Created for this award. After the final measurement date (or, if earlier, upon a change in control, as defined in the 2016 VSEP), each participant may earn performance award shares with an aggregate value equal to the participant’s full percentage share of the Value Created. In addition, for each measurement date, the number of performance award shares earned by a participant will be reduced by the number of performance award shares previously earned by the participant for prior measurement periods. Unless otherwise determined by DDR, the DDR common shares earned under the performance awards will generally be subject to additional service-based restrictions that are expected to vest in 20% annual increments beginning on the date of grant and on each of the first four anniversaries of the date of grant. After becoming vested, RSUs will be paid in the form of one common share for each such vested RSU. The fair value of the 2016 VSEP grants was estimated on the date of grant using a Monte Carlo approach model based on the following assumptions: Range Risk-free interest rate 0.8% Weighted-average dividend yield 5.0% Expected life 3 years Expected volatility 17% – As of June 30, 2016, total unrecognized compensation related to the market metric component associated with the awards granted under the 2016 VSEP was approximately $4.8 million and is expected to be recognized over a weighted-average 6.5-year term, which includes the performance-based and time-based vesting periods.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Other Comprehensive Income (Loss)	8. Other Comprehensive Income (Loss) The changes in Accumulated Other Comprehensive Income (Loss) (“OCI”) by component are as follows (in thousands): Gains on Cash Flow Hedges Foreign Currency Items Total Balance, December 31, 2015 $ (6,109 ) $ (174 ) $ (6,283 ) Other comprehensive income before reclassifications 376 406 782 Change in cash flow hedges reclassed to earnings (A) 344 — 344 Net current-period other comprehensive income 720 406 1,126 Balance, June 30, 2016 $ (5,389 ) $ 232 $ (5,157 ) (A) Includes amortization classified in Interest Expense of $0.4 million, partially offset by amortization classified in Equity in Net Income of Joint Ventures of $0.1 million, in the Company’s consolidated statement of operations for the six months ended June 30, 2016, which was previously recognized in Accumulated OCI.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	9. Earnings Per Share The following table provides a reconciliation of net income (loss) from continuing operations and the number of common shares used in the computations of “basic” earnings per share (“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 Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Numerators – Basic and Diluted Income (loss) from continuing operations $ 27,647 $ 7,780 $ 61,139 $ (260,228 ) Plus: Gain on disposition of real estate 13,721 11,267 26,102 36,361 Plus: Income attributable to non-controlling interests (310 ) (449 ) (610 ) (1,322 ) Less: Preferred dividends (5,594 ) (5,594 ) (11,188 ) (11,188 ) Less: Earnings attributable to unvested shares and operating partnership units (204 ) (420 ) (414 ) (868 ) Net income (loss) attributable to common shareholders after allocation to participating securities $ 35,260 $ 12,584 $ 75,029 $ (237,245 ) Denominators – Number of Shares Basic — 364,976 360,073 364,834 359,914 Effect of dilutive securities: Stock options 342 443 346 — Senior convertible notes — 3,631 — — Diluted — 365,318 364,147 365,180 359,914 Earnings Per Share: Basic $ 0.10 $ 0.03 $ 0.21 $ (0.66 ) Diluted $ 0.10 $ 0.03 $ 0.21 $ (0.66 ) The following potentially dilutive securities were considered in the calculation of EPS: Potentially Dilutive Securities · At June 30, 2016 and 2015, the Company had 398,701 and 1,441,890 operating partnership units outstanding, respectively. The exchange into common shares associated with operating partnership units was not included in the computation of diluted shares outstanding for all periods presented because the effect of assuming conversion was anti-dilutive. · Shares subject to issuance under the 2016 VSEP (Note 7) were not considered in the computation of diluted EPS for the three and six months ended June 30, 2016, as the calculation was anti-dilutive. The 2016 VSEP was not in effect for the three and six months ended June 30, 2015. Common Shares Common share dividends declared per share were as follows: Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Common share dividends declared per share $ 0.19 $ 0.1725 $ 0.38 $ 0.345

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Information	10 . Segment Information The tables below present information about the Company’s reportable operating segments (in thousands): Three Months Ended June 30, 2016 Shopping Centers Loan Investments Other Total Total revenues $ 257,310 $ 11 $ 257,321 Rental operation expenses (71,747 ) (117 ) (71,864 ) Net operating income (loss) 185,563 (106 ) 185,457 Depreciation and amortization (97,698 ) (97,698 ) Interest income 9,446 9,446 Other income (expense), net $ 2,081 2,081 Unallocated expenses (A) (72,756 ) (72,756 ) Equity in net income of joint ventures 1,117 1,117 Income from continuing operations $ 27,647 Three Months Ended June 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 257,283 $ 40 $ 257,323 Rental operation expenses (73,809 ) (17 ) (73,826 ) Net operating income 183,474 23 183,497 Depreciation and amortization (99,300 ) (99,300 ) Interest income 7,211 7,211 Other income (expense), net $ 2,368 2,368 Unallocated expenses (A) (81,131 ) (81,131 ) Equity in net income of joint ventures 1,642 1,642 Loss on sale and change in control of interests, net (6,507 ) (6,507 ) Income from continuing operations $ 7,780 Six Months Ended June 30, 2016 Shopping Centers Loan Investments Other Total Total revenues $ 511,727 $ 17 $ 511,744 Rental operation expenses (144,750 ) (156 ) (144,906 ) Net operating income (loss) 366,977 (139 ) 366,838 Depreciation and amortization (194,600 ) (194,600 ) Interest income 18,496 18,496 Other income (expense), net $ 3,854 3,854 Unallocated expenses (A) (148,987 ) (148,987 ) Equity in net income of joint ventures 15,538 15,538 Income from continuing operations $ 61,139 As of June 30, 2016: Total gross real estate assets $ 9,949,961 $ 9,949,961 Notes receivable, net (B) $ 447,074 $ (399,780 ) $ 47,294 Six Months Ended June 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 516,053 $ 95 $ 516,148 Rental operation expenses (150,145 ) (36 ) (150,181 ) Net operating income 365,908 59 365,967 Impairment charges (279,021 ) (279,021 ) Depreciation and amortization (202,315 ) (202,315 ) Interest income 14,372 14,372 Other income (expense), net $ (1,060 ) (1,060 ) Unallocated expenses (A) (167,646 ) (167,646 ) Equity in net income of joint ventures 1,703 1,703 Gain on sale and change in control of interests, net 7,772 7,772 Loss from continuing operations $ (260,228 ) As of June 30, 2015: Total gross real estate assets $ 10,180,374 $ 10,180,374 Notes receivable, net (B) $ 355,911 $ (308,607 ) $ 47,304 (A) Unallocated expenses consist of General and Administrative expenses, Interest Expense and Tax Expense as listed in the Company’s consolidated statements of operations. (B) Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	11 . Subsequent Events On July 11, 2016, the Company announced that Thomas F. August, a member of the Company’s Board of Directors since May 2016, was named President and Chief Executive Officer of the Company, effective immediately. Additionally, the Executive Vice President and Chief Accounting Officer, Christa A. Vesy, was also named Interim Chief Financial Officer, effective immediately.

Nature of Business and Financ19

Nature of Business and Financial Statement Presentation (Policies)	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business	Nature of Business DDR Corp. and its related consolidated real estate subsidiaries (collectively, the “Company” or “DDR”) and unconsolidated joint ventures are primarily engaged in the business of acquiring, owning, developing, redeveloping, expanding, leasing and managing shopping centers. In addition, the Company engages in the origination and acquisition of loans and debt securities, which are generally collateralized directly or indirectly by shopping centers. Unless otherwise provided, references herein to the Company or DDR include DDR Corp., its wholly-owned and majority-owned subsidiaries and its consolidated joint ventures. The Company’s tenant base primarily includes national and regional retail chains and local retailers. Consequently, the Company’s credit risk is concentrated in the retail industry.
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates.
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements These financial statements have been prepared by the Company in accordance with generally accepted accounting principles for interim financial information and the applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all information and footnotes required by generally accepted accounting principles for complete financial statements. However, in the opinion of management, the interim financial statements include all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the results of the periods presented. The results of operations for the three and six months ended June 30, 2016 and 2015, are not necessarily indicative of the results that may be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 .
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the results of the Company and all entities in which the Company has a controlling interest or has been determined to be the primary beneficiary of a variable interest entity (“VIE”). All significant inter-company balances and transactions have been eliminated in consolidation. Investments in real estate joint ventures and companies in which the Company has the ability to exercise significant influence, but does not have financial or operating control, are accounted for using the equity method of accounting. Accordingly, the Company’s share of the earnings (or loss) of these joint ventures and companies is included in consolidated net income (loss). The Company adopted Accounting Standards Update (“ASU”) No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis Statements of Cash Flows and Supplemental Disclosure of Non-Cash Investing and Financing Information Non-cash investing and financing activities are summarized as follows (in millions): Six Months Ended June 30, 2016 2015 Accounts payable related to construction in progress $ 20.8 $ 46.3 Dividends declared 75.1 67.9 Mortgages assumed from acquisitions — 33.7 Elimination of a previously held equity interest — 1.4 Fee and Other Income Fee and other income was composed of the following (in millions): Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Management and other fee income $ 11.4 $ 8.4 $ 19.6 $ 16.5 Ancillary and other property income 4.5 4.7 8.6 8.8 Lease termination fees 0.3 1.4 1.5 1.6 Other — 0.1 — 0.3 Total fee and other income $ 16.2 $ 14.6 $ 29.7 $ 27.2
New Accounting Standards To Be Adopted	New Accounting Standards To Be Adopted Accounting for Leases In February 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2016-02, Leases (Topic-842). Leases Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers Business Combinations In September 2015, the FASB issued guidance pertaining to entities that have reported provisional amounts for items in a business combination for which the accounting is incomplete by the end of the reporting period in which the combination occurs and during the measurement period have an adjustment to provisional amounts recognized. The guidance requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. Any adjustments should be calculated as if the accounting had been completed at the acquisition date. The guidance is effective for public companies for fiscal years beginning after December 15, 2016, with early adoption permitted. Application of the guidance is prospective. Derivatives and Hedging In March 2016, the FASB issued ASU No. 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships (a consensus of the Emerging Issues Task Force) Transition to Equity Method Accounting In March 2016, the FASB issued ASU No. 2016-07, Simplifying the Transition to the Equity Method of Accounting, Share-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.

Nature of Business and Financ20

Nature of Business and Financial Statement Presentation (Tables)	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Non-cash Investing and Financing Activities	Non-cash investing and financing activities are summarized as follows (in millions): Six Months Ended June 30, 2016 2015 Accounts payable related to construction in progress $ 20.8 $ 46.3 Dividends declared 75.1 67.9 Mortgages assumed from acquisitions — 33.7 Elimination of a previously held equity interest — 1.4
Schedule of Fee and Other Income from Continuing Operations	Fee and other income was composed of the following (in millions): Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Management and other fee income $ 11.4 $ 8.4 $ 19.6 $ 16.5 Ancillary and other property income 4.5 4.7 8.6 8.8 Lease termination fees 0.3 1.4 1.5 1.6 Other — 0.1 — 0.3 Total fee and other income $ 16.2 $ 14.6 $ 29.7 $ 27.2

Investments in and Advances t21

Investments in and Advances to Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2016
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 are as follows (in millions): Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Management and other fees $ 9.6 $ 6.5 $ 15.8 $ 12.8 Development fees and leasing commissions 1.8 1.6 3.7 3.2 Interest income 8.3 6.4 16.6 12.7
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): June 30, 2016 December 31, 2015 Condensed Combined Balance Sheets Land $ 1,306,704 $ 1,343,889 Buildings 3,449,494 3,551,227 Fixtures and tenant improvements 192,647 191,581 4,948,845 5,086,697 Less: Accumulated depreciation (840,227 ) (817,235 ) 4,108,618 4,269,462 Land held for development and construction in progress 58,654 52,390 Real estate, net 4,167,272 4,321,852 Cash and restricted cash 69,815 58,916 Receivables, net 48,568 52,768 Other assets 286,501 318,546 $ 4,572,156 $ 4,752,082 Mortgage debt $ 3,118,908 $ 3,177,603 Notes and accrued interest payable to the Company 2,555 1,556 Other liabilities 223,109 219,799 3,344,572 3,398,958 Redeemable preferred equity – 400,203 395,156 Accumulated equity 827,381 957,968 $ 4,572,156 $ 4,752,082 Company's share of accumulated equity $ 104,500 $ 115,871 Redeemable preferred equity 400,203 395,156 Basis differentials (39,325 ) (42,402 ) Deferred development fees, net of portion related to the Company's interest (2,531 ) (2,449 ) Amounts payable to the Company 2,542 1,556 Investments in and Advances to Joint Ventures $ 465,389 $ 467,732
Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments	Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Condensed Combined Statements of Operations Revenues from operations $ 128,890 $ 133,066 $ 256,800 $ 270,666 Expenses from operations: Operating expenses 36,973 36,090 74,629 75,056 Impairment charges — — — 448 Depreciation and amortization 49,021 51,482 98,056 108,219 Interest expense 33,319 33,593 66,641 74,496 Preferred share expense 8,305 6,415 16,569 12,729 Other expense (income), net 6,319 6,126 12,130 12,195 133,937 133,706 268,025 283,143 (5,047 ) (640 ) (11,225 ) (12,477 ) Gain (loss) on disposition of real estate, net 114 (1,358 ) 53,597 (1,571 ) Net (loss) income attributable to unconsolidated joint ventures $ (4,933 ) $ (1,998 ) $ 42,372 $ (14,048 ) Company's share of equity in net income of joint ventures $ 817 $ 1,317 $ 12,091 $ 1,070 Basis differential adjustments (A) 300 325 3,447 633 Equity in net income of joint ventures $ 1,117 $ 1,642 $ 15,538 $ 1,703 ( A ) The difference between the Company’s share of net income, 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.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Schedule of Acquisition Cost of Power Center	The fair value of the acquisition was allocated as follows (in thousands): Weighted-Average Amortization Period (in Years) Land $ 11,859 N/A Buildings 41,433 (A) Tenant improvements 1,184 (A) In-place leases (including lease origination costs and fair market value of leases) 6,125 4.5 Tenant relations 2,607 8.1 63,208 Less: Below-market leases (2,968 ) 16.7 Less: Other liabilities assumed (354 ) N/A Net assets acquired $ 59,886 (A) Depreciated in accordance with the Company’s policy.

Other Assets, Net (Tables)

Other Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2016
Other Assets [Abstract]
Components of Other Assets	Other assets consist of the following (in thousands): June 30, 2016 December 31, 2015 Intangible assets: In-place leases, net $ 112,334 $ 130,330 Above-market leases, net 40,126 46,214 Tenant relations, net 119,022 134,504 Total intangible assets, net (A) 271,482 311,048 Other assets: Prepaid expenses 32,421 28,923 Other assets 5,766 6,293 Deposits 6,903 7,536 Deferred charges, net 5,422 6,113 Total other assets, net $ 321,994 $ 359,913 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below- market leases, of $21.3 million and $23.0 million for the three months ended June 30, 2016 and 2015, respectively, and $40.8 million and $48.6 million for the six months ended June 30, 2016 and 2015, respectively.

Revolving Credit Facilities (Ta

Revolving Credit Facilities (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Information Regarding Company's Revolving Credit Facilities	The following table discloses certain information regarding the Company’s Revolving Credit Facilities (as defined below) (in millions): Carrying Value at June 30, 2016 Weighted-Average Interest Rate (A) June 30, 2016 Maturity Date Unsecured Credit Facility $ 265.0 1.5% June 2019 PNC Facility — N/A June 2019 (A) Interest rate on variable-rate debt was calculated using the base rate and spreads in effect at June 30, 2016.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Debt Instruments with Carrying Values Different than Estimated Fair Values	Debt instruments with carrying values that are different than estimated fair values are summarized as follows (in thousands): June 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 2,911,277 $ 3,147,137 $ 3,149,188 $ 3,292,723 Revolving Credit Facilities and term loans 862,711 866,867 807,185 811,666 Mortgage Indebtedness 1,164,819 1,222,427 1,183,164 1,235,139 $ 4,938,807 $ 5,236,431 $ 5,139,537 $ 5,339,528

Share-Based Compensation Plan (

Share-Based Compensation Plan (Tables)	6 Months Ended
	Jun. 30, 2016
2016 VSEP [Member]
Summary of Fair Value of Value Sharing Equity Program Grants	The fair value of the 2016 VSEP grants was estimated on the date of grant using a Monte Carlo approach model based on the following assumptions Range Risk-free interest rate 0.8% Weighted-average dividend yield 5.0% Expected life 3 years Expected volatility 17% –

Other Comprehensive Income (L27

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss) by Component	The changes in Accumulated Other Comprehensive Income (Loss) (“OCI”) by component are as follows (in thousands): Gains on Cash Flow Hedges Foreign Currency Items Total Balance, December 31, 2015 $ (6,109 ) $ (174 ) $ (6,283 ) Other comprehensive income before reclassifications 376 406 782 Change in cash flow hedges reclassed to earnings (A) 344 — 344 Net current-period other comprehensive income 720 406 1,126 Balance, June 30, 2016 $ (5,389 ) $ 232 $ (5,157 ) (A) Includes amortization classified in Interest Expense of $0.4 million, partially offset by amortization classified in Equity in Net Income of Joint Ventures of $0.1 million, in the Company’s consolidated statement of operations for the six months ended June 30, 2016, which was previously recognized in Accumulated OCI.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net Income (Loss) from Continuing Operations and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS	The following table provides a reconciliation of net income (loss) from continuing operations and the number of common shares used in the computations of “basic” earnings per share (“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 Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Numerators – Basic and Diluted Income (loss) from continuing operations $ 27,647 $ 7,780 $ 61,139 $ (260,228 ) Plus: Gain on disposition of real estate 13,721 11,267 26,102 36,361 Plus: Income attributable to non-controlling interests (310 ) (449 ) (610 ) (1,322 ) Less: Preferred dividends (5,594 ) (5,594 ) (11,188 ) (11,188 ) Less: Earnings attributable to unvested shares and operating partnership units (204 ) (420 ) (414 ) (868 ) Net income (loss) attributable to common shareholders after allocation to participating securities $ 35,260 $ 12,584 $ 75,029 $ (237,245 ) Denominators – Number of Shares Basic — 364,976 360,073 364,834 359,914 Effect of dilutive securities: Stock options 342 443 346 — Senior convertible notes — 3,631 — — Diluted — 365,318 364,147 365,180 359,914 Earnings Per Share: Basic $ 0.10 $ 0.03 $ 0.21 $ (0.66 ) Diluted $ 0.10 $ 0.03 $ 0.21 $ (0.66 )
Common Shares
Common Share Dividends Declared Per Share	Common share dividends declared per share were as follows: Three Months Six Months Ended June 30, Ended June 30, 2016 2015 2016 2015 Common share dividends declared per share $ 0.19 $ 0.1725 $ 0.38 $ 0.345

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Summary of Information about Company's Reportable Operating Segments	The tables below present information about the Company’s reportable operating segments (in thousands): Three Months Ended June 30, 2016 Shopping Centers Loan Investments Other Total Total revenues $ 257,310 $ 11 $ 257,321 Rental operation expenses (71,747 ) (117 ) (71,864 ) Net operating income (loss) 185,563 (106 ) 185,457 Depreciation and amortization (97,698 ) (97,698 ) Interest income 9,446 9,446 Other income (expense), net $ 2,081 2,081 Unallocated expenses (A) (72,756 ) (72,756 ) Equity in net income of joint ventures 1,117 1,117 Income from continuing operations $ 27,647 Three Months Ended June 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 257,283 $ 40 $ 257,323 Rental operation expenses (73,809 ) (17 ) (73,826 ) Net operating income 183,474 23 183,497 Depreciation and amortization (99,300 ) (99,300 ) Interest income 7,211 7,211 Other income (expense), net $ 2,368 2,368 Unallocated expenses (A) (81,131 ) (81,131 ) Equity in net income of joint ventures 1,642 1,642 Loss on sale and change in control of interests, net (6,507 ) (6,507 ) Income from continuing operations $ 7,780 Six Months Ended June 30, 2016 Shopping Centers Loan Investments Other Total Total revenues $ 511,727 $ 17 $ 511,744 Rental operation expenses (144,750 ) (156 ) (144,906 ) Net operating income (loss) 366,977 (139 ) 366,838 Depreciation and amortization (194,600 ) (194,600 ) Interest income 18,496 18,496 Other income (expense), net $ 3,854 3,854 Unallocated expenses (A) (148,987 ) (148,987 ) Equity in net income of joint ventures 15,538 15,538 Income from continuing operations $ 61,139 As of June 30, 2016: Total gross real estate assets $ 9,949,961 $ 9,949,961 Notes receivable, net (B) $ 447,074 $ (399,780 ) $ 47,294 Six Months Ended June 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 516,053 $ 95 $ 516,148 Rental operation expenses (150,145 ) (36 ) (150,181 ) Net operating income 365,908 59 365,967 Impairment charges (279,021 ) (279,021 ) Depreciation and amortization (202,315 ) (202,315 ) Interest income 14,372 14,372 Other income (expense), net $ (1,060 ) (1,060 ) Unallocated expenses (A) (167,646 ) (167,646 ) Equity in net income of joint ventures 1,703 1,703 Gain on sale and change in control of interests, net 7,772 7,772 Loss from continuing operations $ (260,228 ) As of June 30, 2015: Total gross real estate assets $ 10,180,374 $ 10,180,374 Notes receivable, net (B) $ 355,911 $ (308,607 ) $ 47,304 (A) Unallocated expenses consist of General and Administrative expenses, Interest Expense and Tax Expense as listed in the Company’s consolidated statements of operations. (B) Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.

Nature of Business and Financ30

Nature of Business and Financial Statement Presentation - Additional Information (Detail) - Accounting Standards Update (“ASU”) No. 2015-02 $ in Millions	Jun. 30, 2016USD ($)Entity	Dec. 31, 2015USD ($)Entity
Nature Of Business And Financial Statement Presentation [Line Items]
Number of entities considered VIE | Entity	3	3
Maximum exposure to losses associated with VIEs | $	$ 416.6	$ 412.4
Number of entities with debt guarantee | Entity	1
Affiliate debt guarantee | $	$ 4.6

Nature of Business and Financ31

Nature of Business and Financial Statement Presentation - Non-cash Investing and Financing Activities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accounts payable related to construction in progress	$ 20,800	$ 46,300
Dividends declared	75,078	67,900	$ 68,604
Mortgages assumed from acquisitions	0	33,700
Elimination of a previously held equity interest	$ 0	$ 1,400

Nature of Business and Financ32

Nature of Business and Financial Statement Presentation - Schedule of Fee and Other Income from Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Management and other fee income	$ 11,400	$ 8,400	$ 19,600	$ 16,500
Ancillary and other property income	4,500	4,700	8,600	8,800
Lease termination fees	300	1,400	1,500	1,600
Other	0	100	0	300
Total fee and other income	$ 16,227	$ 14,567	$ 29,748	$ 27,230

Investments in and Advances t33

Investments in and Advances to Joint Ventures - Additional Information (Detail) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2016USD ($)Asset	Jun. 30, 2016USD ($)ShoppingCenter	Jun. 30, 2015USD ($)	Dec. 31, 2015ShoppingCenter
Schedule Of Equity Method Investments [Line Items]
Gain on sale of joint venture assets		$ 26,102	$ 36,361
Shopping Center [Member] | Parent Company [Member]
Schedule Of Equity Method Investments [Line Items]
Gain on sale of joint venture assets	$ 13,500
Unconsolidated Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Number of properties | ShoppingCenter		157		168
Unconsolidated Joint Ventures [Member] | Shopping Center [Member]
Schedule Of Equity Method Investments [Line Items]
Number of properties sold | Asset	11
Proceeds from sale of joint venture assets	$ 170,500
Gain on sale of joint venture assets	$ 53,400

Investments in and Advances t34

Investments in and Advances to Joint Ventures - Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Condensed Combined Balance Sheets
Land	$ 2,137,889	$ 2,184,145
Buildings	6,893,792	6,965,632
Fixtures and tenant improvements	756,617	743,037
Total real estate rental property	9,788,298	9,892,814
Less: Accumulated depreciation	(2,115,084)	(2,062,899)
Real estate rental property, net	7,673,214	7,829,915
Land held for development and construction in progress	161,663	235,385
Total real estate assets, net	7,834,877	8,065,300
Other assets	321,994	359,913
Total assets	8,821,586	9,097,088
Mortgage debt	1,164,819	1,183,164
Total liabilities	5,412,794	5,633,619
Total liabilities and equity	8,821,586	9,097,088
Company's share of accumulated equity	104,500	115,871
Redeemable preferred equity	400,203	395,156
Basis differentials	(39,325)	(42,402)
Deferred development fees, net of portion related to the Company's interest	(2,531)	(2,449)
Amounts payable to the Company	2,542	1,556
Investments in and Advances to Joint Ventures	465,389	467,732
Unconsolidated Joint Ventures [Member]
Condensed Combined Balance Sheets
Land	1,306,704	1,343,889
Buildings	3,449,494	3,551,227
Fixtures and tenant improvements	192,647	191,581
Total real estate rental property	4,948,845	5,086,697
Less: Accumulated depreciation	(840,227)	(817,235)
Real estate rental property, net	4,108,618	4,269,462
Land held for development and construction in progress	58,654	52,390
Total real estate assets, net	4,167,272	4,321,852
Cash and restricted cash	69,815	58,916
Receivables, net	48,568	52,768
Other assets	286,501	318,546
Total assets	4,572,156	4,752,082
Mortgage debt	3,118,908	3,177,603
Notes and accrued interest payable to the Company	2,555	1,556
Other liabilities	223,109	219,799
Total liabilities	3,344,572	3,398,958
Redeemable preferred equity – DDR	400,203	395,156
Accumulated equity	827,381	957,968
Total liabilities and equity	$ 4,572,156	$ 4,752,082

Investments in and Advances t35

Investments in and Advances to Joint Ventures - Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Expenses from operations:
Operating expenses	$ 188,061	$ 192,397	$ 375,881	$ 669,383
Impairment charges			0	279,021
Depreciation and amortization	97,698	99,300	194,600	202,315
Interest expense	54,012	61,287	111,909	124,307
Other expense (income), net	(2,081)	(2,368)	(3,854)	1,060
Income (loss) from continuing operations	27,647	7,780	61,139	(260,228)
Gain (loss) on disposition of real estate, net	13,721	11,267	26,102	36,361
Company's share of equity in net income of joint ventures	817	1,317	12,091	1,070
Basis differential adjustments	300	325	3,447	633
Equity in net income of joint ventures	1,117	1,642	15,538	1,703
Unconsolidated Joint Ventures [Member]
Condensed Combined Statements of Operations
Revenues from operations	128,890	133,066	256,800	270,666
Expenses from operations:
Operating expenses	36,973	36,090	74,629	75,056
Impairment charges	0	0	0	448
Depreciation and amortization	49,021	51,482	98,056	108,219
Interest expense	33,319	33,593	66,641	74,496
Preferred share expense	8,305	6,415	16,569	12,729
Other expense (income), net	6,319	6,126	12,130	12,195
Total expenses	133,937	133,706	268,025	283,143
Income (loss) from continuing operations	(5,047)	(640)	(11,225)	(12,477)
Gain (loss) on disposition of real estate, net	114	(1,358)	53,597	(1,571)
Net (loss) income attributable to unconsolidated joint ventures	$ (4,933)	$ (1,998)	$ 42,372	$ (14,048)

Investments in and Advances t36

Investments in and Advances to Joint Ventures - Service Fees and Income Earned by Company's Unconsolidated Joint Ventures (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Equity Method Investments And Joint Ventures [Abstract]
Management and other fees	$ 9.6	$ 6.5	$ 15.8	$ 12.8
Development fees and leasing commissions	1.8	1.6	3.7	3.2
Interest income	$ 8.3	$ 6.4	$ 16.6	$ 12.7

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Millions	1 Months Ended	6 Months Ended
	Feb. 29, 2016USD ($)PowerCenter	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Business Acquisition [Line Items]
Revenues from the date of acquisition		$ 2.2	$ 2.1
Power Center Acquired [Member]
Business Acquisition [Line Items]
Business acquisitions value	$ 60.5
Number of business acquired | PowerCenter	1
Consideration paid in cash	$ 59.9

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquisition Cost of Power Center (Detail) - Shopping Center Acquired [Member] $ in Thousands	1 Months Ended
	Feb. 29, 2016USD ($)
Business Acquisition [Line Items]
Land	$ 11,859
Buildings	41,433
Tenant improvements	1,184
Assets acquired	63,208
Less: Below-market leases	(2,968)
Less: Other liabilities assumed	(354)
Net assets acquired	59,886
In-Place Leases (Including Lease Origination Costs and Fair Market Value of Leases) [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 6,125
Weighted Average Amortization Period	4 years 6 months
Tenant Relations [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 2,607
Weighted Average Amortization Period	8 years 1 month 6 days
Below-Market Leases [Member]
Business Acquisition [Line Items]
Weighted Average Amortization Period	16 years 8 months 12 days

Other Assets, Net - Components

Other Assets, Net - Components of Other Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Intangible assets:
Total intangible assets, net	$ 271,482	$ 311,048
Other assets:
Prepaid expenses	32,421	28,923
Other assets	5,766	6,293
Deposits	6,903	7,536
Deferred charges, net	5,422	6,113
Total other assets, net	321,994	359,913
In-place leases, net [Member]
Intangible assets:
Total intangible assets, net	112,334	130,330
Above-market leases, net [Member]
Intangible assets:
Total intangible assets, net	40,126	46,214
Tenant Relations, Net [Member]
Intangible assets:
Total intangible assets, net	$ 119,022	$ 134,504

Other Assets, Net - Component40

Other Assets, Net - Components of Other Assets (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Assets [Abstract]
Amortization expense	$ 21.3	$ 23	$ 40.8	$ 48.6

Revolving Credit Facilities - I

Revolving Credit Facilities - Information Regarding Company's Revolving Credit Facilities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Carrying Value	$ 265,000	$ 210,000
Revolving Credit Facility [Member] | Unsecured Debt [Member] | JP Morgan Securities, LLC and Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Carrying Value	$ 265,000
Weighted-Average Interest Rate	1.50%
Lines of Credit Maturity Date	2019-06
Revolving Credit Facility [Member] | Unsecured Debt [Member] | PNC Bank National Association [Member]
Debt Instrument [Line Items]
Carrying Value	$ 0
Lines of Credit Maturity Date	2019-06

Revolving Credit Facilities - A

Revolving Credit Facilities - Additional Information (Detail) - Unsecured Debt [Member] - Revolving Credit Facility [Member]	6 Months Ended
	Jun. 30, 2016USD ($)
Debt Instrument [Line Items]
Covenant compliance	The Company was in compliance with these financial covenants at June 30, 2016.
Prime rate [Member]
Debt Instrument [Line Items]
Specified spread line of credit facility	0.15%
LIBOR [Member]
Debt Instrument [Line Items]
Specified spread line of credit facility	1.00%
JP Morgan Securities, LLC and Wells Fargo Securities, LLC [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility borrowing capacity	$ 750,000,000
Accordion feature	$ 1,250,000,000
Line of credit facility competitive bid option on periodic interest rates	up to 50% of the facility
Facility fee	0.20%
Revolving credit facility maturity extension option	two six-month options to extend the maturity to June 2020 upon the Company’s request
PNC Bank National Association [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility	$ 50,000,000

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Carrying amount of notes	$ 447.5	$ 437.6
Level 3 [Member]
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Approximate fair value of notes	$ 450.7	$ 441.5

Fair Value Measurements - Debt

Fair Value Measurements - Debt Instruments with Carrying Values Different than Estimated Fair Values (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	$ 2,911,277	$ 3,149,188
Revolving Credit Facilities and term loans	862,711	807,185
Mortgage indebtedness	1,164,819	1,183,164
Total indebtedness	4,938,807	5,139,537
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	3,147,137	3,292,723
Revolving Credit Facilities and term loans	866,867	811,666
Mortgage indebtedness	1,222,427	1,235,139
Total indebtedness	$ 5,236,431	$ 5,339,528

Share-Based Compensation Plan -

Share-Based Compensation Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Feb. 09, 2016	Jun. 30, 2016
Class Of Stock [Line Items]
Expected vesting percentage		20.00%
Performance Awards [Member]
Class Of Stock [Line Items]
Share price for vesting	$ 19.58
Performance Awards [Member] | Minimum [Member]
Class Of Stock [Line Items]
Aggregate percentage of performance awards	1.4909%
Performance Awards [Member] | Maximum [Member]
Class Of Stock [Line Items]
Share price for vesting	$ 19.58
Aggregate percentage of performance awards	1.6089%
2016 VSEP [Member]
Class Of Stock [Line Items]
Compensation fully earned and vested description		Awards made under the 2016 VSEP, if earned, may result in the granting of common shares of DDR and time-vested restricted stock units (“RSUs”) to participants on future measurement dates based on a performance period beginning on February 9, 2016, and ending on December 31, 2018 (the “Performance Period”). As a result, in general, the total compensation available to participants under the 2016 VSEP, if any, will be fully earned only after approximately seven years (the Performance Period and the final four-year time-based vesting period for RSUs).
Vesting period	7 years
Settlement percentage of common shares	20.00%
Settlement percentage of restricted stock units	80.00%
Total unrecognized compensation cost granted		$ 4.8
Term of recognition of unrecognized stock option compensation cost		6 years 6 months
2016 VSEP [Member] | Minimum [Member]
Class Of Stock [Line Items]
Share price for vesting	$ 17.41
2016 VSEP [Member] | Maximum [Member]
Class Of Stock [Line Items]
Share price for vesting	$ 25.35
2016 VSEP [Member] | Time-based Vesting [Member]
Class Of Stock [Line Items]
Vesting period	4 years

Share-Based Compensation Plan46

Share-Based Compensation Plan - Summary of Fair Value of Value Sharing Equity Program Grants (Detail) - 2016 VSEP [Member]	6 Months Ended
	Jun. 30, 2016
Fair Value Inputs Equity Quantitative Information [Line Items]
Risk-free interest rate	0.80%
Weighted-average dividend yield	5.00%
Expected life	3 years
Expected volatility, minimum	17.00%
Expected volatility, maximum	19.00%

Other Comprehensive Income (L47

Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			$ 3,455,185
Other comprehensive income before reclassifications			782
Change in cash flow hedges reclassed to earnings	$ 172	$ 154	344	$ 829
Net current-period other comprehensive income			1,126
Ending Balance	3,400,213		3,400,213
Gains on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(6,109)
Other comprehensive income before reclassifications			376
Change in cash flow hedges reclassed to earnings			344
Net current-period other comprehensive income			720
Ending Balance	(5,389)		(5,389)
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(174)
Other comprehensive income before reclassifications			406
Change in cash flow hedges reclassed to earnings			0
Net current-period other comprehensive income			406
Ending Balance	232		232
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(6,283)
Ending Balance	$ (5,157)		$ (5,157)

Other Comprehensive Income (L48

Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings	$ (172)	$ (154)	$ (344)	$ (829)
Interest Expense [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings			400
Equity in Net Income of Joint Ventures [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings			$ 100

Earnings Per Share - Computatio

Earnings Per Share - Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net Income (Loss) from Continuing Operations and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Income (loss) from continuing operations	$ 27,647	$ 7,780	$ 61,139	$ (260,228)
Plus: Gain on disposition of real estate	13,721	11,267	26,102	36,361
Plus: Income attributable to non-controlling interests	(310)	(449)	(610)	(1,322)
Less: Preferred dividends	(5,594)	(5,594)	(11,188)	(11,188)
Less: Earnings attributable to unvested shares and operating partnership units	(204)	(420)	(414)	(868)
Net income (loss) attributable to common shareholders after allocation to participating securities	$ 35,260	$ 12,584	$ 75,029	$ (237,245)
Denominators – Number of Shares
Basic—Average shares outstanding	364,976	360,073	364,834	359,914
Effect of dilutive securities:
Stock options	342	443	346	0
Senior convertible notes	0	3,631	0	0
Diluted—Average shares outstanding	365,318	364,147	365,180	359,914
Earnings Per Share:
Basic	$ 0.10	$ 0.03	$ 0.21	$ (0.66)
Diluted	$ 0.10	$ 0.03	$ 0.21	$ (0.66)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Other operating partnership units, outstanding	398,701	1,441,890

Earnings Per Share - Common Sha

Earnings Per Share - Common Share Dividends Declared Per Share (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Common share dividends declared per share	$ 0.19	$ 0.1725	$ 0.38	$ 0.345

Segment Information - Summary o

Segment Information - Summary of Information about Company's Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 257,321	$ 257,323	$ 511,744	$ 516,148
Rental operation expenses	(71,864)	(73,826)	(144,906)	(150,181)
Net operating income (loss)	185,457	183,497	366,838	365,967
Impairment charges			0	(279,021)
Depreciation and amortization	(97,698)	(99,300)	(194,600)	(202,315)
Interest income	9,446	7,211	18,496	14,372
Other income (expense), net	2,081	2,368	3,854	(1,060)
Unallocated expenses	(72,756)	(81,131)	(148,987)	(167,646)
Equity in net income of joint ventures	1,117	1,642	15,538	1,703
Gain (Loss) on sale and change in control of interests, net	0	(6,507)	0	7,772
Income (loss) from continuing operations	27,647	7,780	61,139	(260,228)
Total gross real estate assets	9,949,961	10,180,374	9,949,961	10,180,374
Notes receivable, net	47,294	47,304	47,294	47,304	$ 42,534
Operating Segments [Member] | Shopping Center [Member]
Segment Reporting Information [Line Items]
Total revenues	257,310	257,283	511,727	516,053
Rental operation expenses	(71,747)	(73,809)	(144,750)	(150,145)
Net operating income (loss)	185,563	183,474	366,977	365,908
Impairment charges				(279,021)
Depreciation and amortization	(97,698)	(99,300)	(194,600)	(202,315)
Equity in net income of joint ventures	1,117	1,642	15,538	1,703
Gain (Loss) on sale and change in control of interests, net		(6,507)		7,772
Total gross real estate assets	9,949,961	10,180,374	9,949,961	10,180,374
Operating Segments [Member] | Loan Investments [Member]
Segment Reporting Information [Line Items]
Total revenues	11	40	17	95
Rental operation expenses	(117)	(17)	(156)	(36)
Net operating income (loss)	(106)	23	(139)	59
Interest income	9,446	7,211	18,496	14,372
Notes receivable, net	447,074	355,911	447,074	355,911
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Other income (expense), net	2,081	2,368	3,854	(1,060)
Unallocated expenses	(72,756)	(81,131)	(148,987)	(167,646)
Notes receivable, net	$ (399,780)	$ (308,607)	$ (399,780)	$ (308,607)