SITE Centers (SITC) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		366,266,652

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Land	$ 2,122,070	$ 2,184,145
Buildings	6,890,141	6,965,632
Fixtures and tenant improvements	773,664	743,037
Total real estate rental property	9,785,875	9,892,814
Less: Accumulated depreciation	(2,174,268)	(2,062,899)
Real estate rental property, net	7,611,607	7,829,915
Construction in progress and land	125,557	235,385
Total real estate assets, net	7,737,164	8,065,300
Investments in and advances to joint ventures	460,609	467,732
Cash and cash equivalents	20,658	22,416
Restricted cash	12,696	10,104
Accounts receivable, net	127,249	129,089
Notes receivable, net	44,823	42,534
Other assets, net	317,817	359,913
Total assets	8,721,016	9,097,088
Unsecured indebtedness:
Senior notes	2,912,247	3,149,188
Unsecured term loan	398,284	397,934
Revolving credit facilities	310,000	210,000
Total unsecured indebtedness	3,620,531	3,757,122
Secured indebtedness:
Secured term loan	199,694	199,251
Mortgage indebtedness	1,146,154	1,183,164
Total secured indebtedness	1,345,848	1,382,415
Total indebtedness	4,966,379	5,139,537
Accounts payable and other liabilities	398,829	425,478
Dividends payable	75,158	68,604
Total liabilities	5,440,366	5,633,619
Commitments and contingencies
DDR Equity
Common shares, with par value, $0.10 stated value; 600,000,000 shares authorized; 365,943,846 and 365,292,314 shares issued at September 30, 2016 and December 31, 2015, respectively	36,594	36,529
Additional paid-in capital	5,480,292	5,466,511
Accumulated distributions in excess of net income	(2,590,837)	(2,391,793)
Deferred compensation obligation	15,332	15,537
Accumulated other comprehensive loss	(4,484)	(6,283)
Less: Common shares in treasury at cost: 932,504 and 945,268 shares at September 30, 2016 and December 31, 2015, respectively	(14,826)	(15,316)
Total DDR shareholders' equity	3,272,071	3,455,185
Non-controlling interests	8,579	8,284
Total equity	3,280,650	3,463,469
Total liabilities and equity	8,721,016	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	9 Months Ended	12 Months Ended
	Sep. 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	365,943,846	365,292,314
Treasury at cost	932,504	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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues from operations:
Minimum rents	$ 177,844	$ 180,523	$ 533,275	$ 540,583
Percentage and overage rents	1,193	835	4,783	3,592
Recoveries from tenants	59,743	61,915	182,718	188,016
Fee and other income	15,020	13,862	44,768	41,092
Total revenue from operations	253,800	257,135	765,544	773,283
Rental operation expenses:
Operating and maintenance	31,269	35,963	102,365	110,718
Real estate taxes	36,900	37,385	110,710	112,811
Impairment charges	104,877	0	104,877	279,021
General and administrative	18,785	17,596	55,160	55,462
Depreciation and amortization	95,451	97,155	290,051	299,470
Total rental operation expenses	287,282	188,099	663,163	857,482
Other income (expense):
Interest income	9,304	7,331	27,800	21,703
Interest expense	(53,940)	(58,217)	(165,849)	(182,524)
Other income (expense), net	(384)	(240)	3,470	(1,300)
Total other income (expense)	(45,020)	(51,126)	(134,579)	(162,121)
(Loss) income before earnings from equity method investments and other items	(78,502)	17,910	(32,198)	(246,320)
Equity in net (loss) income of joint ventures	(1,457)	648	14,081	2,351
(Loss) gain on sale and change in control of interests, net	(1,087)	0	(1,087)	7,772
(Loss) income before tax expense	(81,046)	18,558	(19,204)	(236,197)
Tax expense of taxable REIT subsidiaries and state franchise and income taxes	(398)	(528)	(1,101)	(6,001)
(Loss) income from continuing operations	(81,444)	18,030	(20,305)	(242,198)
Gain on disposition of real estate, net	21,368	41,793	47,470	78,154
Net (loss) income	(60,076)	59,823	27,165	(164,044)
Income attributable to non-controlling interests, net	(284)	(268)	(894)	(1,590)
Net (loss) income attributable to DDR	(60,360)	59,555	26,271	(165,634)
Preferred dividends	(5,594)	(5,594)	(16,781)	(16,781)
Net (loss) income attributable to common shareholders	$ (65,954)	$ 53,961	$ 9,490	$ (182,415)
Per share data:
Basic	$ (0.18)	$ 0.15	$ 0.02	$ (0.51)
Diluted	$ (0.18)	$ 0.15	$ 0.02	$ (0.51)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ (60,076)	$ 59,823	$ 27,165	$ (164,044)
Other comprehensive income (loss):
Foreign currency translation	(103)	(1,153)	572	(1,372)
Change in fair value of interest-rate contracts	574	97	950	417
Change in cash flow hedges reclassed to earnings	172	172	516	1,001
Total other comprehensive income (loss)	643	(884)	2,038	46
Comprehensive (loss) income	(59,433)	58,939	29,203	(163,998)
Comprehensive (income) loss attributable to non-controlling interests:
Allocation of net income	(284)	(268)	(894)	(1,590)
Foreign currency translation	29	359	(239)	644
Total comprehensive (income) loss attributable to non-controlling interests	(255)	91	(1,133)	(946)
Total comprehensive (loss) income attributable to DDR	$ (59,688)	$ 59,030	$ 28,070	$ (164,944)

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - 9 months ended Sep. 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	10,679	0	65	9,031	0	0	0	1,583	0
Issuance of restricted stock	0	0	0	(706)	0	874	0	(168)	0
Vesting of restricted stock	1,620	0	0	3,624	0	(1,079)	0	(925)	0
Stock-based compensation	1,832	0	0	1,832	0	0	0	0	0
Distributions to non-controlling interests	(838)	0	0	0	0	0	0	0	(838)
Dividends declared-common shares	(208,534)	0	0	0	(208,534)	0	0	0	0
Dividends declared-preferred shares	(16,781)	0	0	0	(16,781)	0	0	0	0
Comprehensive income	29,203	0	0	0	26,271	0	1,799	0	1,133
Balance at Sep. 30, 2016	$ 3,280,650	$ 350,000	$ 36,594	$ 5,480,292	$ (2,590,837)	$ 15,332	$ (4,484)	$ (14,826)	$ 8,579

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flow from operating activities:
Net income (loss)	$ 27,165	$ (164,044)
Adjustments to reconcile net income (loss) to net cash flow provided by operating activities:
Depreciation and amortization	290,051	299,470
Stock-based compensation	5,444	6,415
Amortization and write-off of deferred finance charges and fair market value of debt adjustments	1,605	(6,088)
Accretion of convertible debt discount	0	8,938
Equity in net income of joint ventures	(14,081)	(2,351)
Net gain on sale and change in control of interests	1,087	(7,772)
Operating cash distributions from joint ventures	5,921	5,824
Gain on disposition of real estate	(47,470)	(78,154)
Impairment charges	104,877	279,021
Change in notes receivable accrued interest	(7,937)	(6,035)
Change in restricted cash	(1,052)	548
Net change in accounts receivable	81	(1,689)
Net change in accounts payable and accrued expenses	(3,045)	(2,603)
Net change in other operating assets and liabilities	(12,665)	(30,579)
Total adjustments	322,816	464,945
Net cash flow provided by operating activities	349,981	300,901
Cash flow from investing activities:
Real estate acquired, net of liabilities and cash assumed	(145,975)	(105,846)
Real estate developed and improvements to operating real estate	(134,810)	(231,963)
Proceeds from disposition of real estate	296,224	293,130
Distributions from unconsolidated joint ventures	22,307	12,115
Equity contributions to joint ventures	(1,452)	(277)
Issuance of notes receivable	(6,801)	0
Repayment of notes receivable	4,934	9,397
Change in restricted cash	(1,551)	(31,093)
Net cash flow provided by (used for) investing activities	32,876	(54,537)
Cash flow from financing activities:
Proceeds from revolving credit facilities, net	100,000	367,371
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	(33,089)	(1,047,734)
Payment of debt issuance costs	(41)	(4,559)
Issuance of common shares in conjunction with equity award plans and dividend reinvestment plan	8,105	2,811
Distributions to non-controlling interests and redeemable operating partnership units	(830)	(6,065)
Dividends paid	(218,762)	(197,218)
Net cash flow used for financing activities	(384,617)	(246,418)
Cash and cash equivalents:
Decrease in cash and cash equivalents	(1,760)	(54)
Effect of exchange rate changes on cash and cash equivalents	2	157
Cash and cash equivalents, beginning of year	22,416	20,937
Cash and cash equivalents, end of period	$ 20,658	$ 21,040

Nature of Business and Financia

Nature of Business and Financial Statement Presentation	9 Months Ended
	Sep. 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 nine months ended September 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): Nine Months Ended September 30, 2016 2015 Accounts payable related to construction in progress $ 15.8 $ 43.9 Dividends declared 75.2 68.1 Mortgages assumed from acquisitions — 33.7 Redemption of OP Units — 18.3 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 Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Management and other fee income $ 8.5 $ 8.2 $ 28.2 $ 24.7 Ancillary and other property income 4.8 4.7 13.4 13.5 Lease termination fees 1.7 0.7 3.2 2.3 Other — 0.3 — 0.6 Total fee and other income $ 15.0 $ 13.9 $ 44.8 $ 41.1 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. Early adoption is 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. Statement of Cash Flows In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments.

Investments in and Advances to

Investments in and Advances to Joint Ventures	9 Months Ended
	Sep. 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 September 30, 2016 and December 31, 2015, the Company had ownership interests in various unconsolidated joint ventures that had an investment in 155 and 168 shopping center properties, respectively. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands): September 30, 2016 December 31, 2015 Condensed Combined Balance Sheets Land $ 1,296,413 $ 1,343,889 Buildings 3,398,184 3,551,227 Fixtures and tenant improvements 198,657 191,581 4,893,254 5,086,697 Less: Accumulated depreciation (854,821 ) (817,235 ) 4,038,433 4,269,462 Land held for development and construction in progress 51,967 52,390 Real estate, net 4,090,400 4,321,852 Cash and restricted cash 76,447 58,916 Receivables, net 50,461 52,768 Other assets 268,726 318,546 $ 4,486,034 $ 4,752,082 Mortgage debt $ 3,095,354 $ 3,177,603 Notes and accrued interest payable to the Company 2,481 1,556 Other liabilities 216,229 219,799 3,314,064 3,398,958 Redeemable preferred equity – 402,291 395,156 Accumulated equity 769,679 957,968 $ 4,486,034 $ 4,752,082 Company's share of accumulated equity $ 95,577 $ 115,871 Redeemable preferred equity 402,291 395,156 Basis differentials (37,110 ) (42,402 ) Deferred development fees, net of portion related to the Company's interest (2,630 ) (2,449 ) Amounts payable to the Company 2,481 1,556 Investments in and Advances to Joint Ventures $ 460,609 $ 467,732 Three Months Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Condensed Combined Statements of Operations Revenues from operations $ 127,676 $ 126,698 $ 384,476 $ 397,364 Expenses from operations: Operating expenses 35,547 35,438 110,176 110,494 Impairment charges 13,598 — 13,598 448 Depreciation and amortization 47,955 49,949 146,011 158,168 Interest expense 33,567 33,202 100,208 107,698 Preferred share expense 8,438 6,518 25,007 19,248 Other expense (income), net 5,829 6,309 17,959 18,503 144,934 131,416 412,959 414,559 (17,258 ) (4,718 ) (28,483 ) (17,195 ) Gain (loss) on disposition of real estate, net 658 (2,626 ) 54,255 (4,197 ) Net (loss) income attributable to unconsolidated joint ventures $ (16,600 ) $ (7,344 ) $ 25,772 $ (21,392 ) Company's share of equity in net (loss) income of joint ventures $ (1,755 ) $ 336 $ 10,336 $ 1,406 Basis differential adjustments (A) 298 312 3,745 945 Equity in net (loss) income of joint ventures $ (1,457 ) $ 648 $ 14,081 $ 2,351 (A) 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, 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 Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Management and other fees $ 6.3 $ 6.5 $ 22.2 $ 19.6 Development fees and leasing commissions 2.2 1.6 5.9 4.8 Interest income 8.4 6.5 25.0 19.2 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 third quarter of 2016, the BRE DDR Retail Holdings III joint venture sold two assets for an aggregate sale price of $6.6 million and recorded a gain on sale of $0.5 million. In the first quarter of 2016, the DDR–SAU Retail Fund joint venture 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	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Acquisitions	3. Acquisitions In the nine months ended September 30, 2016, the Company acquired the following shopping centers (in millions): Location Date Acquired Purchase Price Phoenix, AZ February 2016 $ 60.5 Portland, OR September 2016 86.3 The fair value of the acquisitions was allocated as follows (in thousands): Weighted-Average Amortization Period (in Years) Land $ 27,093 N/A Buildings 99,034 (A) Tenant improvements 4,385 (A) In-place leases (including lease origination costs and fair market value of leases) 14,021 5.1 Tenant relations 8,810 11.1 Other assets 146 N/A 153,489 Less: Below-market leases (6,967 ) 15.4 Less: Other liabilities assumed (547 ) N/A Net assets acquired $ 145,975 (A ) Depreciated in accordance with the Company’s policy. The Company’s consideration of $146.0 million was paid in cash. The costs related to the acquisition of these assets were expensed as incurred and included in Other Income (Expense), Net in the Company’s consolidated statement of operations, at September 30, 2016. Such amounts were considered immaterial. Included in the Company’s consolidated statements of operations are $3.6 million and $5.8 million in total revenues from the date of acquisition through September 30, 2016 and 2015, respectively, for the properties acquired in 2016 and 2015.

Other Assets, Net

Other Assets, Net	9 Months Ended
	Sep. 30, 2016
Other Assets [Abstract]
Other Assets, Net	4. Other Assets, Net Other assets consist of the following (in thousands): September 30, 2016 December 31, 2015 Intangible assets: In-place leases, net $ 109,859 $ 130,330 Above-market leases, net 37,850 46,214 Tenant relations, net 117,923 134,504 Total intangible assets, net (A) 265,632 311,048 Other assets: Prepaid expenses 34,593 28,923 Other assets 5,535 6,293 Deposits 6,980 7,536 Deferred charges, net 5,077 6,113 Total other assets, net $ 317,817 $ 359,913 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below-market leases, of $13.9 million and $22.6 million for the three months ended September 30, 2016 and 2015, respectively, and $54.6 million and $71.2 million for the nine months ended September 30, 2016 and 2015, respectively.

Revolving Credit Facilities

Revolving Credit Facilities	9 Months Ended
	Sep. 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 September 30, 2016 Weighted-Average Interest Rate (A) September 30, 2016 Maturity Date Unsecured Credit Facility $ 310.0 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 September 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 September 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, as defined in the respective facility, or (ii) LIBOR plus a specified spread (1.0% at September 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 September 30, 2016.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 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 $450.0 million and $441.5 million at September 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): September 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 2,912,247 $ 3,134,537 $ 3,149,188 $ 3,292,723 Revolving Credit Facilities and term loans 907,978 911,482 807,185 811,666 Mortgage Indebtedness 1,146,154 1,190,928 1,183,164 1,235,139 $ 4,966,379 $ 5,236,947 $ 5,139,537 $ 5,339,528

Share-Based Compensation Plan

Share-Based Compensation Plan	9 Months Ended
	Sep. 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 1.4909% if the ending share price for the applicable measurement period is $19.58 or lower. 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 September 30, 2016, total unrecognized compensation related to the market metric component associated with the awards granted under the 2016 VSEP was approximately $3.6 million and is expected to be recognized over a weighted-average 6.25-year term, which includes the performance-based and time-based vesting periods.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 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 950 333 1,283 Change in cash flow hedges reclassed to earnings (A) 516 — 516 Net current-period other comprehensive income 1,466 333 1,799 Balance, September 30, 2016 $ (4,643 ) $ 159 $ (4,484 ) (A) Includes amortization classified in Interest Expense of $0.6 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 nine months ended September 30, 2016, which was previously recognized in Accumulated OCI.

Impairment Charges

Impairment Charges	9 Months Ended
	Sep. 30, 2016
Asset Impairment Charges [Abstract]
Impairment Charges	9. Impairment Charges The Company recorded impairment charges during the three and nine months ended September 30, 2016 and 2015, based on the difference between the carrying value of the assets and the estimated fair market value as follows (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Assets marketed for sale or assets sold (A) $ 104.9 $ — $ 104.9 $ 179.7 Undeveloped land previously held for development (B) — — — 99.3 Total impairment charges $ 104.9 $ — $ 104.9 $ 279.0 (A) In March 2015, the Company’s senior management team initiated changes to the business strategy that involved the acceleration of asset sales in connection with a portfolio quality improvement and leverage reduction initiative. The Company recorded impairment charges at 25 operating shopping centers to be sold over a 12 to 24-month period. In the third quarter of 2016, in conjunction with the change of the chief executive officer, the Company’s management team and board of directors decided to increase the volume of asset sales over a 12 to 18-month period beyond the level contemplated in 2015, to make accelerated progress on its more aggressive deleveraging goals. As a result, these decisions triggered the recording of impairment charges on operating shopping centers that management identified as short-term disposition candidates. (B) Amounts recorded primarily were related to land previously held for future development. The asset impairments were triggered primarily by the decision made by the Company’s senior management in March 2015 to sell the land and no longer consider development alternatives. Items Measured at Fair Value on a Non-Recurring Basis For a description of the Company’s methodology on determining the fair value, refer to Note 12 of the Company’s Financial Statements filed in its Annual Report on Form 10-K for the year ended December 31, 2015. The following table presents information about the Company’s impairment charges on both financial and non-financial assets that were measured on a fair value basis for the nine months ended September 30, 2016, and the year ended December 31, 2015. The table also indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions). Fair Value Measurements Level 1 Level 2 Level 3 Total Total Losses September 30, 2016 Long-lived assets held and used $ — $ — $ 387.7 $ 387.7 $ 104.9 December 31, 2015 Long-lived assets held and used — — 407.1 407.1 279.0 Unconsolidated joint venture investments — — — — 1.9 The following table presents quantitative information about the significant unobservable inputs used by the Company to determine the fair value of non-recurring items (in millions, except per square foot, which is in thousands): Quantitative Information about Level 3 Fair Value Measurements Fair Value at Range September 30, December 31, Valuation Unobservable Description 2016 2015 Technique Inputs 2016 2015 Impairment of consolidated assets $ 9.7 $ 33.8 Indicative Bid (A) Contracted Price Indicative Bid (A) Contracted Price N/A N/A 351.4 287.6 Income Capitalization Approach (B) Sales Comparison Approach Market Capitalization Rate 7% – 8% – Price per Square Foot $15–$31 $10–$40 26.6 51.5 Indicative Bid (A) Indicative Bid (A) N/A N/A Discounted Cash Flow Discount Rate 10% – 10% – Terminal Capitalization Rate 10% – 8% – — 34.2 Indicative Bid (A) Sales Comparison Approach Indicative Bid (A) N/A N/A (A) Fair value measurements based upon indicative bids were developed by third-party sources (including offers and comparable sales values), subject to the Company’s corroboration for reasonableness. The Company does not have access to certain unobservable inputs used by these third parties to determine these estimated fair values. (B) Vacant space in certain assets was valued based on a price per square foot.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	10. Earnings Per Share The following table provides a reconciliation of net (loss) income 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 Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Numerators – Basic and Diluted (Loss) income from continuing operations $ (81,444 ) $ 18,030 $ (20,305 ) $ (242,198 ) Plus: Gain on disposition of real estate 21,368 41,793 47,470 78,154 Plus: Income attributable to non-controlling interests (284 ) (268 ) (894 ) (1,590 ) Less: Preferred dividends (5,594 ) (5,594 ) (16,781 ) (16,781 ) Less: Earnings attributable to unvested shares and operating partnership units (167 ) (221 ) (581 ) (1,075 ) Net (loss) income attributable to common shareholders after allocation to participating securities $ (66,121 ) $ 53,740 $ 8,909 $ (183,490 ) Denominators – Number of Shares Basic — 365,508 361,107 365,062 360,341 Effect of dilutive securities: Stock options — 379 320 — Senior convertible notes — 2,085 — — Diluted — 365,508 363,571 365,382 360,341 Earnings Per Share: Basic $ (0.18 ) $ 0.15 $ 0.02 $ (0.51 ) Diluted $ (0.18 ) $ 0.15 $ 0.02 $ (0.51 ) The following potentially dilutive securities were considered in the calculation of EPS: Potentially Dilutive Securities • At both September 30, 2016 and 2015, the Company had 398,701 operating partnership units outstanding. 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 nine months ended September 30, 2016, as the calculation was anti-dilutive. The 2016 VSEP was not in effect for the three and nine months ended September 30, 2015. Common Shares Common share dividends declared per share were as follows: Three Months Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Common share dividends declared per share $ 0.19 $ 0.1725 $ 0.57 $ 0.5175

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	11. Segment Information The tables below present information about the Company’s reportable operating segments (in thousands): Three Months Ended September 30, 2016 Shopping Centers Loan Investments Other Total Total revenues $ 253,787 $ 13 $ 253,800 Rental operation expenses (68,107 ) (62 ) (68,169 ) Net operating income (loss) 185,680 (49 ) 185,631 Impairment charges (104,877 ) (104,877 ) Depreciation and amortization (95,451 ) (95,451 ) Interest income 9,304 9,304 Other income (expense), net $ (384 ) (384 ) Unallocated expenses (A) (73,123 ) (73,123 ) Equity in net loss of joint ventures (1,457 ) (1,457 ) Loss on sale and change in control of interests, net (1,087 ) (1,087 ) Loss from continuing operations $ (81,444 ) Three Months Ended September 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 257,109 $ 26 $ 257,135 Rental operation expenses (73,280 ) (68 ) (73,348 ) Net operating income (loss) 183,829 (42 ) 183,787 Depreciation and amortization (97,155 ) (97,155 ) Interest income 7,331 7,331 Other income (expense), net $ (240 ) (240 ) Unallocated expenses (A) (76,341 ) (76,341 ) Equity in net income of joint ventures 648 648 Income from continuing operations $ 18,030 Nine Months Ended September 30, 2016 Shopping Centers Loan Investments Other Total Total revenues $ 765,514 $ 30 $ 765,544 Rental operation expenses (212,857 ) (218 ) (213,075 ) Net operating income (loss) 552,657 (188 ) 552,469 Impairment charges (104,877 ) (104,877 ) Depreciation and amortization (290,051 ) (290,051 ) Interest income 27,800 27,800 Other income (expense), net $ 3,470 3,470 Unallocated expenses (A) (222,110 ) (222,110 ) Equity in net income of joint ventures 14,081 14,081 Loss on sale and change in control of interests, net (1,087 ) (1,087 ) Loss from continuing operations $ (20,305 ) As of September 30, 2016: Total gross real estate assets $ 9,911,432 $ 9,911,432 Notes receivable, net (B) $ 447,070 $ (402,247 ) $ 44,823 Nine Months Ended September 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 773,162 $ 121 $ 773,283 Rental operation expenses (223,425 ) (104 ) (223,529 ) Net operating income 549,737 17 549,754 Impairment charges (279,021 ) (279,021 ) Depreciation and amortization (299,470 ) (299,470 ) Interest income 21,703 21,703 Other income (expense), net $ (1,300 ) (1,300 ) Unallocated expenses (A) (243,987 ) (243,987 ) Equity in net income of joint ventures 2,351 2,351 Gain on sale and change in control of interests, net 7,772 7,772 Loss from continuing operations $ (242,198 ) As of September 30, 2015: Total gross real estate assets $ 10,155,375 $ 10,155,375 Notes receivable, net (B) $ 357,648 $ (310,218 ) $ 47,430 (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	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events In October 2016, the Company sold 18 wholly-owned operating assets for an aggregate sale price of $483.5 million.

Nature of Business and Financ20

Nature of Business and Financial Statement Presentation (Policies)	9 Months Ended
	Sep. 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 nine months ended September 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): Nine Months Ended September 30, 2016 2015 Accounts payable related to construction in progress $ 15.8 $ 43.9 Dividends declared 75.2 68.1 Mortgages assumed from acquisitions — 33.7 Redemption of OP Units — 18.3 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 Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Management and other fee income $ 8.5 $ 8.2 $ 28.2 $ 24.7 Ancillary and other property income 4.8 4.7 13.4 13.5 Lease termination fees 1.7 0.7 3.2 2.3 Other — 0.3 — 0.6 Total fee and other income $ 15.0 $ 13.9 $ 44.8 $ 41.1
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. Early adoption is 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. Statement of Cash Flows In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments.

Nature of Business and Financ21

Nature of Business and Financial Statement Presentation (Tables)	9 Months Ended
	Sep. 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): Nine Months Ended September 30, 2016 2015 Accounts payable related to construction in progress $ 15.8 $ 43.9 Dividends declared 75.2 68.1 Mortgages assumed from acquisitions — 33.7 Redemption of OP Units — 18.3 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 Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Management and other fee income $ 8.5 $ 8.2 $ 28.2 $ 24.7 Ancillary and other property income 4.8 4.7 13.4 13.5 Lease termination fees 1.7 0.7 3.2 2.3 Other — 0.3 — 0.6 Total fee and other income $ 15.0 $ 13.9 $ 44.8 $ 41.1

Investments in and Advances t22

Investments in and Advances to Joint Ventures (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Management and other fees $ 6.3 $ 6.5 $ 22.2 $ 19.6 Development fees and leasing commissions 2.2 1.6 5.9 4.8 Interest income 8.4 6.5 25.0 19.2
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): September 30, 2016 December 31, 2015 Condensed Combined Balance Sheets Land $ 1,296,413 $ 1,343,889 Buildings 3,398,184 3,551,227 Fixtures and tenant improvements 198,657 191,581 4,893,254 5,086,697 Less: Accumulated depreciation (854,821 ) (817,235 ) 4,038,433 4,269,462 Land held for development and construction in progress 51,967 52,390 Real estate, net 4,090,400 4,321,852 Cash and restricted cash 76,447 58,916 Receivables, net 50,461 52,768 Other assets 268,726 318,546 $ 4,486,034 $ 4,752,082 Mortgage debt $ 3,095,354 $ 3,177,603 Notes and accrued interest payable to the Company 2,481 1,556 Other liabilities 216,229 219,799 3,314,064 3,398,958 Redeemable preferred equity – 402,291 395,156 Accumulated equity 769,679 957,968 $ 4,486,034 $ 4,752,082 Company's share of accumulated equity $ 95,577 $ 115,871 Redeemable preferred equity 402,291 395,156 Basis differentials (37,110 ) (42,402 ) Deferred development fees, net of portion related to the Company's interest (2,630 ) (2,449 ) Amounts payable to the Company 2,481 1,556 Investments in and Advances to Joint Ventures $ 460,609 $ 467,732
Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments	Three Months Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Condensed Combined Statements of Operations Revenues from operations $ 127,676 $ 126,698 $ 384,476 $ 397,364 Expenses from operations: Operating expenses 35,547 35,438 110,176 110,494 Impairment charges 13,598 — 13,598 448 Depreciation and amortization 47,955 49,949 146,011 158,168 Interest expense 33,567 33,202 100,208 107,698 Preferred share expense 8,438 6,518 25,007 19,248 Other expense (income), net 5,829 6,309 17,959 18,503 144,934 131,416 412,959 414,559 (17,258 ) (4,718 ) (28,483 ) (17,195 ) Gain (loss) on disposition of real estate, net 658 (2,626 ) 54,255 (4,197 ) Net (loss) income attributable to unconsolidated joint ventures $ (16,600 ) $ (7,344 ) $ 25,772 $ (21,392 ) Company's share of equity in net (loss) income of joint ventures $ (1,755 ) $ 336 $ 10,336 $ 1,406 Basis differential adjustments (A) 298 312 3,745 945 Equity in net (loss) income of joint ventures $ (1,457 ) $ 648 $ 14,081 $ 2,351 (A) 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, 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)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions	In the nine months ended September 30, 2016, the Company acquired the following shopping centers (in millions): Location Date Acquired Purchase Price Phoenix, AZ February 2016 $ 60.5 Portland, OR September 2016 86.3
Schedule of Acquisition Cost of Shopping Centers	The fair value of the acquisitions was allocated as follows (in thousands): Weighted-Average Amortization Period (in Years) Land $ 27,093 N/A Buildings 99,034 (A) Tenant improvements 4,385 (A) In-place leases (including lease origination costs and fair market value of leases) 14,021 5.1 Tenant relations 8,810 11.1 Other assets 146 N/A 153,489 Less: Below-market leases (6,967 ) 15.4 Less: Other liabilities assumed (547 ) N/A Net assets acquired $ 145,975 (A ) Depreciated in accordance with the Company’s policy.

Other Assets, Net (Tables)

Other Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2016
Other Assets [Abstract]
Components of Other Assets	Other assets consist of the following (in thousands): September 30, 2016 December 31, 2015 Intangible assets: In-place leases, net $ 109,859 $ 130,330 Above-market leases, net 37,850 46,214 Tenant relations, net 117,923 134,504 Total intangible assets, net (A) 265,632 311,048 Other assets: Prepaid expenses 34,593 28,923 Other assets 5,535 6,293 Deposits 6,980 7,536 Deferred charges, net 5,077 6,113 Total other assets, net $ 317,817 $ 359,913 (A) The Company recorded amortization expense related to its intangibles, excluding above- and below-market leases, of $13.9 million and $22.6 million for the three months ended September 30, 2016 and 2015, respectively, and $54.6 million and $71.2 million for the nine months ended September 30, 2016 and 2015, respectively.

Revolving Credit Facilities (Ta

Revolving Credit Facilities (Tables)	9 Months Ended
	Sep. 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 September 30, 2016 Weighted-Average Interest Rate (A) September 30, 2016 Maturity Date Unsecured Credit Facility $ 310.0 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 September 30, 2016.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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): September 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Senior Notes $ 2,912,247 $ 3,134,537 $ 3,149,188 $ 3,292,723 Revolving Credit Facilities and term loans 907,978 911,482 807,185 811,666 Mortgage Indebtedness 1,146,154 1,190,928 1,183,164 1,235,139 $ 4,966,379 $ 5,236,947 $ 5,139,537 $ 5,339,528

Share-Based Compensation Plan (

Share-Based Compensation Plan (Tables)	9 Months Ended
	Sep. 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 (L28

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 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 950 333 1,283 Change in cash flow hedges reclassed to earnings (A) 516 — 516 Net current-period other comprehensive income 1,466 333 1,799 Balance, September 30, 2016 $ (4,643 ) $ 159 $ (4,484 ) (A) Includes amortization classified in Interest Expense of $0.6 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 nine months ended September 30, 2016, which was previously recognized in Accumulated OCI.

Impairment Charges (Tables)

Impairment Charges (Tables)	9 Months Ended
	Sep. 30, 2016
Asset Impairment Charges [Abstract]
Impairment Charges on Assets	The Company recorded impairment charges during the three and nine months ended September 30, 2016 and 2015, based on the difference between the carrying value of the assets and the estimated fair market value as follows (in millions): Three Months Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Assets marketed for sale or assets sold (A) $ 104.9 $ — $ 104.9 $ 179.7 Undeveloped land previously held for development (B) — — — 99.3 Total impairment charges $ 104.9 $ — $ 104.9 $ 279.0 (A) In March 2015, the Company’s senior management team initiated changes to the business strategy that involved the acceleration of asset sales in connection with a portfolio quality improvement and leverage reduction initiative. The Company recorded impairment charges at 25 operating shopping centers to be sold over a 12 to 24-month period. In the third quarter of 2016, in conjunction with the change of the chief executive officer, the Company’s management team and board of directors decided to increase the volume of asset sales over a 12 to 18-month period beyond the level contemplated in 2015, to make accelerated progress on its more aggressive deleveraging goals. As a result, these decisions triggered the recording of impairment charges on operating shopping centers that management identified as short-term disposition candidates. (B) Amounts recorded primarily were related to land previously held for future development. The asset impairments were triggered primarily by the decision made by the Company’s senior management in March 2015 to sell the land and no longer consider development alternatives.
Impairment Charges Measured at Fair Value on Non-Recurring Basis	The following table presents information about the Company’s impairment charges on both financial and non-financial assets that were measured on a fair value basis for the nine months ended September 30, 2016, and the year ended December 31, 2015. The table also indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions). Fair Value Measurements Level 1 Level 2 Level 3 Total Total Losses September 30, 2016 Long-lived assets held and used $ — $ — $ 387.7 $ 387.7 $ 104.9 December 31, 2015 Long-lived assets held and used — — 407.1 407.1 279.0 Unconsolidated joint venture investments — — — — 1.9
Summary of Significant Unobservable Inputs	The following table presents quantitative information about the significant unobservable inputs used by the Company to determine the fair value of non-recurring items (in millions, except per square foot, which is in thousands): Quantitative Information about Level 3 Fair Value Measurements Fair Value at Range September 30, December 31, Valuation Unobservable Description 2016 2015 Technique Inputs 2016 2015 Impairment of consolidated assets $ 9.7 $ 33.8 Indicative Bid (A) Contracted Price Indicative Bid (A) Contracted Price N/A N/A 351.4 287.6 Income Capitalization Approach (B) Sales Comparison Approach Market Capitalization Rate 7% – 8% – Price per Square Foot $15–$31 $10–$40 26.6 51.5 Indicative Bid (A) Indicative Bid (A) N/A N/A Discounted Cash Flow Discount Rate 10% – 10% – Terminal Capitalization Rate 10% – 8% – — 34.2 Indicative Bid (A) Sales Comparison Approach Indicative Bid (A) N/A N/A (A) Fair value measurements based upon indicative bids were developed by third-party sources (including offers and comparable sales values), subject to the Company’s corroboration for reasonableness. The Company does not have access to certain unobservable inputs used by these third parties to determine these estimated fair values. (B) Vacant space in certain assets was valued based on a price per square foot.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net (Loss) Income 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 (loss) income 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 Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Numerators – Basic and Diluted (Loss) income from continuing operations $ (81,444 ) $ 18,030 $ (20,305 ) $ (242,198 ) Plus: Gain on disposition of real estate 21,368 41,793 47,470 78,154 Plus: Income attributable to non-controlling interests (284 ) (268 ) (894 ) (1,590 ) Less: Preferred dividends (5,594 ) (5,594 ) (16,781 ) (16,781 ) Less: Earnings attributable to unvested shares and operating partnership units (167 ) (221 ) (581 ) (1,075 ) Net (loss) income attributable to common shareholders after allocation to participating securities $ (66,121 ) $ 53,740 $ 8,909 $ (183,490 ) Denominators – Number of Shares Basic — 365,508 361,107 365,062 360,341 Effect of dilutive securities: Stock options — 379 320 — Senior convertible notes — 2,085 — — Diluted — 365,508 363,571 365,382 360,341 Earnings Per Share: Basic $ (0.18 ) $ 0.15 $ 0.02 $ (0.51 ) Diluted $ (0.18 ) $ 0.15 $ 0.02 $ (0.51 )
Common Shares
Common Share Dividends Declared Per Share	Common share dividends declared per share were as follows: Three Months Nine Months Ended September 30, Ended September 30, 2016 2015 2016 2015 Common share dividends declared per share $ 0.19 $ 0.1725 $ 0.57 $ 0.5175

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 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 September 30, 2016 Shopping Centers Loan Investments Other Total Total revenues $ 253,787 $ 13 $ 253,800 Rental operation expenses (68,107 ) (62 ) (68,169 ) Net operating income (loss) 185,680 (49 ) 185,631 Impairment charges (104,877 ) (104,877 ) Depreciation and amortization (95,451 ) (95,451 ) Interest income 9,304 9,304 Other income (expense), net $ (384 ) (384 ) Unallocated expenses (A) (73,123 ) (73,123 ) Equity in net loss of joint ventures (1,457 ) (1,457 ) Loss on sale and change in control of interests, net (1,087 ) (1,087 ) Loss from continuing operations $ (81,444 ) Three Months Ended September 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 257,109 $ 26 $ 257,135 Rental operation expenses (73,280 ) (68 ) (73,348 ) Net operating income (loss) 183,829 (42 ) 183,787 Depreciation and amortization (97,155 ) (97,155 ) Interest income 7,331 7,331 Other income (expense), net $ (240 ) (240 ) Unallocated expenses (A) (76,341 ) (76,341 ) Equity in net income of joint ventures 648 648 Income from continuing operations $ 18,030 Nine Months Ended September 30, 2016 Shopping Centers Loan Investments Other Total Total revenues $ 765,514 $ 30 $ 765,544 Rental operation expenses (212,857 ) (218 ) (213,075 ) Net operating income (loss) 552,657 (188 ) 552,469 Impairment charges (104,877 ) (104,877 ) Depreciation and amortization (290,051 ) (290,051 ) Interest income 27,800 27,800 Other income (expense), net $ 3,470 3,470 Unallocated expenses (A) (222,110 ) (222,110 ) Equity in net income of joint ventures 14,081 14,081 Loss on sale and change in control of interests, net (1,087 ) (1,087 ) Loss from continuing operations $ (20,305 ) As of September 30, 2016: Total gross real estate assets $ 9,911,432 $ 9,911,432 Notes receivable, net (B) $ 447,070 $ (402,247 ) $ 44,823 Nine Months Ended September 30, 2015 Shopping Centers Loan Investments Other Total Total revenues $ 773,162 $ 121 $ 773,283 Rental operation expenses (223,425 ) (104 ) (223,529 ) Net operating income 549,737 17 549,754 Impairment charges (279,021 ) (279,021 ) Depreciation and amortization (299,470 ) (299,470 ) Interest income 21,703 21,703 Other income (expense), net $ (1,300 ) (1,300 ) Unallocated expenses (A) (243,987 ) (243,987 ) Equity in net income of joint ventures 2,351 2,351 Gain on sale and change in control of interests, net 7,772 7,772 Loss from continuing operations $ (242,198 ) As of September 30, 2015: Total gross real estate assets $ 10,155,375 $ 10,155,375 Notes receivable, net (B) $ 357,648 $ (310,218 ) $ 47,430 (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 Financ32

Nature of Business and Financial Statement Presentation - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Accounting Standards Update ("ASU") No. 2015-02
Nature Of Business And Financial Statement Presentation [Line Items]
Maximum exposure to losses associated with VIEs	$ 416.3	$ 412.4

Nature of Business and Financ33

Nature of Business and Financial Statement Presentation - Non-Cash Investing and Financing Activities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accounts payable related to construction in progress	$ 15,800	$ 43,900
Dividends declared	75,158	68,100	$ 68,604
Mortgages assumed from acquisitions	0	33,700
Redemption of OP Units	0	18,300
Elimination of a previously held equity interest	$ 0	$ 1,400

Nature of Business and Financ34

Nature of Business and Financial Statement Presentation - Schedule of Fee and Other Income from Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Management and other fee income	$ 8,500	$ 8,200	$ 28,200	$ 24,700
Ancillary and other property income	4,800	4,700	13,400	13,500
Lease termination fees	1,700	700	3,200	2,300
Other	0	300	0	600
Total fee and other income	$ 15,020	$ 13,862	$ 44,768	$ 41,092

Investments in and Advances t35

Investments in and Advances to Joint Ventures - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)ShoppingCenterAsset	Mar. 31, 2016USD ($)Asset	Sep. 30, 2016USD ($)ShoppingCenter	Sep. 30, 2015USD ($)	Dec. 31, 2015ShoppingCenter
Schedule Of Equity Method Investments [Line Items]
Gain on sale of joint venture assets			$ 47,470	$ 78,154
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	155		155		168
BRE DDR Retail Holdings III [Member] | Shopping Center [Member]
Schedule Of Equity Method Investments [Line Items]
Number of properties sold | Asset	2
Proceeds from sale of joint venture assets	$ 6,600
Gain on sale of joint venture assets	$ 500
DDR-SAU Retail Fund [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 t36

Investments in and Advances to Joint Ventures - Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Condensed Combined Balance Sheets
Land	$ 2,122,070	$ 2,184,145
Buildings	6,890,141	6,965,632
Fixtures and tenant improvements	773,664	743,037
Total real estate rental property	9,785,875	9,892,814
Less: Accumulated depreciation	(2,174,268)	(2,062,899)
Real estate rental property, net	7,611,607	7,829,915
Land held for development and construction in progress	125,557	235,385
Total real estate assets, net	7,737,164	8,065,300
Other assets	317,817	359,913
Total assets	8,721,016	9,097,088
Mortgage debt	1,146,154	1,183,164
Total liabilities	5,440,366	5,633,619
Total liabilities and equity	8,721,016	9,097,088
Company's share of accumulated equity	95,577	115,871
Redeemable preferred equity	402,291	395,156
Basis differentials	(37,110)	(42,402)
Deferred development fees, net of portion related to the Company's interest	(2,630)	(2,449)
Amounts payable to the Company	2,481	1,556
Investments in and Advances to Joint Ventures	460,609	467,732
Unconsolidated Joint Ventures [Member]
Condensed Combined Balance Sheets
Land	1,296,413	1,343,889
Buildings	3,398,184	3,551,227
Fixtures and tenant improvements	198,657	191,581
Total real estate rental property	4,893,254	5,086,697
Less: Accumulated depreciation	(854,821)	(817,235)
Real estate rental property, net	4,038,433	4,269,462
Land held for development and construction in progress	51,967	52,390
Total real estate assets, net	4,090,400	4,321,852
Cash and restricted cash	76,447	58,916
Receivables, net	50,461	52,768
Other assets	268,726	318,546
Total assets	4,486,034	4,752,082
Mortgage debt	3,095,354	3,177,603
Notes and accrued interest payable to the Company	2,481	1,556
Other liabilities	216,229	219,799
Total liabilities	3,314,064	3,398,958
Redeemable preferred equity – DDR	402,291	395,156
Accumulated equity	769,679	957,968
Total liabilities and equity	$ 4,486,034	$ 4,752,082

Investments in and Advances t37

Investments in and Advances to Joint Ventures - Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Expenses from operations:
Operating expenses	$ 287,282	$ 188,099	$ 663,163	$ 857,482
Impairment charges	104,877	0	104,877	279,021
Depreciation and amortization	95,451	97,155	290,051	299,470
Interest expense	53,940	58,217	165,849	182,524
Other expense (income), net	384	240	(3,470)	1,300
(Loss) income from continuing operations	(81,444)	18,030	(20,305)	(242,198)
Gain (loss) on disposition of real estate, net	21,368	41,793	47,470	78,154
Company's share of equity in net (loss) income of joint ventures	(1,755)	336	10,336	1,406
Basis differential adjustments	298	312	3,745	945
Equity in net (loss) income of joint ventures	(1,457)	648	14,081	2,351
Unconsolidated Joint Ventures [Member]
Condensed Combined Statements of Operations
Revenues from operations	127,676	126,698	384,476	397,364
Expenses from operations:
Operating expenses	35,547	35,438	110,176	110,494
Impairment charges	13,598	0	13,598	448
Depreciation and amortization	47,955	49,949	146,011	158,168
Interest expense	33,567	33,202	100,208	107,698
Preferred share expense	8,438	6,518	25,007	19,248
Other expense (income), net	5,829	6,309	17,959	18,503
Total expenses	144,934	131,416	412,959	414,559
(Loss) income from continuing operations	(17,258)	(4,718)	(28,483)	(17,195)
Gain (loss) on disposition of real estate, net	658	(2,626)	54,255	(4,197)
Net (loss) income attributable to unconsolidated joint ventures	$ (16,600)	$ (7,344)	$ 25,772	$ (21,392)

Investments in and Advances t38

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity Method Investments And Joint Ventures [Abstract]
Management and other fees	$ 6.3	$ 6.5	$ 22.2	$ 19.6
Development fees and leasing commissions	2.2	1.6	5.9	4.8
Interest income	$ 8.4	$ 6.5	$ 25	$ 19.2

Acquisitions - Summary of Acqui

Acquisitions - Summary of Acquired Shopping Centers (Detail) - Shopping Center [Member] $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Phoenix [Member] | AZ [Member]
Business Acquisition [Line Items]
Date Acquired	2016-02
Purchase Price	$ 60.5
Portland [Member] | OR [Member]
Business Acquisition [Line Items]
Date Acquired	2016-09
Purchase Price	$ 86.3

Acquisitions - Schedule of Acqu

Acquisitions - Schedule of Acquisition Cost of Shopping Centers (Detail) - Shopping Center Acquired [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Business Acquisition [Line Items]
Land	$ 27,093
Buildings	99,034
Tenant improvements	4,385
Other assets	146
Assets acquired	153,489
Less: Below-market leases	(6,967)
Less: Other liabilities assumed	(547)
Net assets acquired	145,975
In-Place Leases (Including Lease Origination Costs and Fair Market Value of Leases) [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 14,021
Weighted-Average Amortization Period	5 years 1 month 6 days
Tenant Relations [Member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 8,810
Weighted-Average Amortization Period	11 years 1 month 6 days
Below-Market Leases [Member]
Business Acquisition [Line Items]
Weighted-Average Amortization Period	15 years 4 months 24 days

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Business Acquisition [Line Items]
Revenues from the date of acquisition	$ 3.6	$ 5.8
Shopping Center Acquired [Member]
Business Acquisition [Line Items]
Consideration paid in cash	$ 146

Other Assets, Net - Components

Other Assets, Net - Components of Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Intangible assets:
Total intangible assets, net	$ 265,632	$ 311,048
Other assets:
Prepaid expenses	34,593	28,923
Other assets	5,535	6,293
Deposits	6,980	7,536
Deferred charges, net	5,077	6,113
Total other assets, net	317,817	359,913
In-place leases, net [Member]
Intangible assets:
Total intangible assets, net	109,859	130,330
Above-market leases, net [Member]
Intangible assets:
Total intangible assets, net	37,850	46,214
Tenant Relations, Net [Member]
Intangible assets:
Total intangible assets, net	$ 117,923	$ 134,504

Other Assets, Net - Component43

Other Assets, Net - Components of Other Assets (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Other Assets [Abstract]
Amortization expense	$ 13.9	$ 22.6	$ 54.6	$ 71.2

Revolving Credit Facilities - I

Revolving Credit Facilities - Information Regarding Company's Revolving Credit Facilities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Carrying Value	$ 310,000	$ 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	$ 310,000
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]	9 Months Ended
	Sep. 30, 2016USD ($)
Debt Instrument [Line Items]
Covenant compliance	The Company was in compliance with these financial covenants at September 30, 2016.
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	Sep. 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	$ 441.5

Fair Value Measurements - Debt

Fair Value Measurements - Debt Instruments with Carrying Values Different than Estimated Fair Values (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	$ 2,912,247	$ 3,149,188
Revolving Credit Facilities and term loans	907,978	807,185
Mortgage indebtedness	1,146,154	1,183,164
Total indebtedness	4,966,379	5,139,537
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	3,134,537	3,292,723
Revolving Credit Facilities and term loans	911,482	811,666
Mortgage indebtedness	1,190,928	1,235,139
Total indebtedness	$ 5,236,947	$ 5,339,528

Share-Based Compensation Plan -

Share-Based Compensation Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Feb. 09, 2016	Sep. 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%
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		$ 3.6
Term of recognition of unrecognized stock option compensation cost		6 years 3 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 Plan49

Share-Based Compensation Plan - Summary of Fair Value of Value Sharing Equity Program Grants (Detail) - 2016 VSEP [Member]	9 Months Ended
	Sep. 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 (L50

Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			$ 3,455,185
Other comprehensive income before reclassifications			1,283
Change in cash flow hedges reclassed to earnings	$ 172	$ 172	516	$ 1,001
Net current-period other comprehensive income			1,799
Ending Balance	3,272,071		3,272,071
Gains on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(6,109)
Other comprehensive income before reclassifications			950
Change in cash flow hedges reclassed to earnings			516
Net current-period other comprehensive income			1,466
Ending Balance	(4,643)		(4,643)
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(174)
Other comprehensive income before reclassifications			333
Change in cash flow hedges reclassed to earnings			0
Net current-period other comprehensive income			333
Ending Balance	159		159
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(6,283)
Ending Balance	$ (4,484)		$ (4,484)

Other Comprehensive Income (L51

Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) by Component (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings	$ (172)	$ (172)	$ (516)	$ (1,001)
Interest Expense [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings			600
Equity in Net Income of Joint Ventures [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Change in cash flow hedges reclassed to earnings			$ 100

Impairment Charges - Impairment

Impairment Charges - Impairment Charges on Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Impairment Charges And Impairment Of Joint Venture Investments [Abstract]
Assets marketed for sale or assets sold	$ 104,900	$ 0	$ 104,900	$ 179,700
Total impairment charges	104,877	0	104,877	279,021
Undeveloped Land [Member]
Impairment Charges And Impairment Of Joint Venture Investments [Abstract]
Undeveloped land previously held for development	$ 0	$ 0	$ 0	$ 99,300

Impairment Charges - Impairme53

Impairment Charges - Impairment Charges on Assets (Parenthetical) (Detail) - ShoppingCenter	3 Months Ended
	Sep. 30, 2016	Mar. 31, 2015
Operating Shopping Centers [Member]
Schedule Of Investments [Line Items]
Number of properties		25
Minimum [Member]
Schedule Of Investments [Line Items]
Asset disposal period	12 months	12 months
Maximum [Member]
Schedule Of Investments [Line Items]
Asset disposal period	18 months	24 months

Impairment Charges - Impairme54

Impairment Charges - Impairment Charges Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value Measurements [Member] - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated joint venture investments, Fair Value Measurements		$ 0
Long-lived assets held and used, Fair Value Measurements	$ 387.7	407.1
Long-lived assets held and used, Total Losses	104.9	279
Impairment of joint venture investments		1.9
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used, Fair Value Measurements	0	0
Unconsolidated joint venture investments, Fair Value Measurements		0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used, Fair Value Measurements	0	0
Unconsolidated joint venture investments, Fair Value Measurements		0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used, Fair Value Measurements	$ 387.7	407.1
Unconsolidated joint venture investments, Fair Value Measurements		$ 0

Impairment Charges - Summary of

Impairment Charges - Summary of Significant Unobservable Inputs (Detail) - Fair Value Measurements [Member] $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)$ / ft²	Dec. 31, 2015USD ($)$ / ft²
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 387.7	$ 407.1
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Income Capitalization/Sales Comparison Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 351.4	$ 287.6
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Income Capitalization/Sales Comparison Approach [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	7.00%	8.00%
Price per Square Foot, Range | $ / ft²	15	10
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Income Capitalization/Sales Comparison Approach [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	10.00%	9.00%
Price per Square Foot, Range | $ / ft²	31	40
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Discounted Cash Flow [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	10.00%	10.00%
Range	10.00%	8.00%
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Discounted Cash Flow [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range	11.00%	14.00%
Range	12.00%	10.00%
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Indicative Bid/Contracted Price [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 9.7	$ 33.8
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Indicative Bid [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	26.6	51.5
Impairment of Consolidated Assets [Member] | Level 3 [Member] | Indicative Bid/Sales Comparison Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 34.2

Earnings Per Share - Computatio

Earnings Per Share - Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net (Loss) Income 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
(Loss) income from continuing operations	$ (81,444)	$ 18,030	$ (20,305)	$ (242,198)
Plus: Gain on disposition of real estate	21,368	41,793	47,470	78,154
Plus: Income attributable to non-controlling interests	(284)	(268)	(894)	(1,590)
Less: Preferred dividends	(5,594)	(5,594)	(16,781)	(16,781)
Less: Earnings attributable to unvested shares and operating partnership units	(167)	(221)	(581)	(1,075)
Net (loss) income attributable to common shareholders after allocation to participating securities	$ (66,121)	$ 53,740	$ 8,909	$ (183,490)
Denominators – Number of Shares
Basic—Average shares outstanding	365,508	361,107	365,062	360,341
Effect of dilutive securities:
Stock options	0	379	320	0
Senior convertible notes	0	2,085	0	0
Diluted—Average shares outstanding	365,508	363,571	365,382	360,341
Earnings Per Share:
Basic	$ (0.18)	$ 0.15	$ 0.02	$ (0.51)
Diluted	$ (0.18)	$ 0.15	$ 0.02	$ (0.51)

Earnings Per Share - Additional

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

Earnings Per Share - Common Sha

Earnings Per Share - Common Share Dividends Declared Per Share (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Common share dividends declared per share	$ 0.19	$ 0.1725	$ 0.57	$ 0.5175

Segment Information - Summary o

Segment Information - Summary of Information about Company's Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 253,800	$ 257,135	$ 765,544	$ 773,283
Rental operation expenses	(68,169)	(73,348)	(213,075)	(223,529)
Net operating income (loss)	185,631	183,787	552,469	549,754
Impairment charges	(104,877)	0	(104,877)	(279,021)
Depreciation and amortization	(95,451)	(97,155)	(290,051)	(299,470)
Interest income	9,304	7,331	27,800	21,703
Other income (expense), net	(384)	(240)	3,470	(1,300)
Unallocated expenses	(73,123)	(76,341)	(222,110)	(243,987)
Equity in net (loss) income of joint ventures	(1,457)	648	14,081	2,351
(Loss) gain on sale and change in control of interests, net	(1,087)	0	(1,087)	7,772
(Loss) income from continuing operations	(81,444)	18,030	(20,305)	(242,198)
Total gross real estate assets	9,911,432	10,155,375	9,911,432	10,155,375
Notes receivable, net	44,823	47,430	44,823	47,430	$ 42,534
Operating Segments [Member] | Shopping Center [Member]
Segment Reporting Information [Line Items]
Total revenues	253,787	257,109	765,514	773,162
Rental operation expenses	(68,107)	(73,280)	(212,857)	(223,425)
Net operating income (loss)	185,680	183,829	552,657	549,737
Impairment charges	(104,877)		(104,877)	(279,021)
Depreciation and amortization	(95,451)	(97,155)	(290,051)	(299,470)
Equity in net (loss) income of joint ventures	(1,457)	648	14,081	2,351
(Loss) gain on sale and change in control of interests, net	(1,087)		(1,087)	7,772
Total gross real estate assets	9,911,432	10,155,375	9,911,432	10,155,375
Operating Segments [Member] | Loan Investments [Member]
Segment Reporting Information [Line Items]
Total revenues	13	26	30	121
Rental operation expenses	(62)	(68)	(218)	(104)
Net operating income (loss)	(49)	(42)	(188)	17
Interest income	9,304	7,331	27,800	21,703
Notes receivable, net	447,070	357,648	447,070	357,648
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Other income (expense), net	(384)	(240)	3,470	(1,300)
Unallocated expenses	(73,123)	(76,341)	(222,110)	(243,987)
Notes receivable, net	$ (402,247)	$ (310,218)	$ (402,247)	$ (310,218)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Oct. 31, 2016USD ($)Assets
Subsequent Event [Line Items]
Aggregate sale price of wholly owned operating assets | $	$ 483.5
Number of operating assets sold | Assets	18