DDR
Corp.
|
Income
Statement: Consolidated Interests
|
|
|
|
|
|
|
|
|
$ in thousands,
except per share
|
|
|
|
|
|
|
|
|
|
4Q15
|
|
4Q14
|
|
12M15
|
|
12M14
|
Revenues:
|
|
|
|
|
|
|
|
Minimum rents
(1)
|
$179,154
|
|
$181,081
|
|
$719,737
|
|
$688,556
|
Percentage
rent
|
2,675
|
|
2,459
|
|
6,267
|
|
5,231
|
Recoveries
|
58,703
|
|
59,040
|
|
246,719
|
|
230,987
|
Ancillary
income
|
5,525
|
|
5,824
|
|
19,038
|
|
24,288
|
Other revenues
(2)
|
473
|
|
153
|
|
3,339
|
|
4,706
|
|
|
246,530
|
|
248,557
|
|
995,100
|
|
953,768
|
Expenses
(3):
|
|
|
|
|
|
|
|
Operating and
maintenance
|
33,893
|
|
35,355
|
|
144,611
|
|
142,336
|
Real estate
taxes
|
36,271
|
|
34,729
|
|
149,082
|
|
138,771
|
|
|
70,164
|
|
70,084
|
|
293,693
|
|
281,107
|
|
|
|
|
|
|
|
|
|
Net operating
income
|
176,366
|
|
178,473
|
|
701,407
|
|
672,661
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
Fee income
|
8,258
|
|
8,211
|
|
32,971
|
|
31,907
|
Interest
income
|
7,510
|
|
6,989
|
|
29,213
|
|
15,927
|
Interest expense
(4)
|
(59,203)
|
|
(61,014)
|
|
(241,727)
|
|
(237,120)
|
Depreciation and
amortization
|
(102,575)
|
|
(106,732)
|
|
(402,045)
|
|
(402,825)
|
General and
administrative (5)
|
(17,920)
|
|
(25,606)
|
|
(73,382)
|
|
(84,484)
|
Other income
(expense), net (6)
|
(439)
|
|
(1,221)
|
|
(1,739)
|
|
(12,262)
|
Impairment charges
(7)
|
0
|
|
(11,055)
|
|
(279,021)
|
|
(29,175)
|
Income (loss) before
earnings from equity method
investments and other items
|
11,997
|
|
(11,955)
|
|
(234,323)
|
|
(45,371)
|
|
|
|
|
|
|
|
|
|
Equity in net (loss)
income of joint ventures
|
(5,486)
|
|
748
|
|
(3,135)
|
|
10,989
|
Impairment of joint
venture investments
|
(1,909)
|
|
(21,552)
|
|
(1,909)
|
|
(30,652)
|
Gain on sale and
change in control of interests, net
|
0
|
|
183
|
|
7,772
|
|
87,996
|
Income from
discontinued operations (8)
|
0
|
|
21,471
|
|
0
|
|
89,398
|
Tax
expense
|
(285)
|
|
(742)
|
|
(6,286)
|
|
(1,855)
|
Gain on disposition
of real estate, net of tax
|
89,417
|
|
415
|
|
167,571
|
|
3,060
|
Net income
(loss)
|
93,734
|
|
(11,432)
|
|
(70,310)
|
|
113,565
|
Non-controlling
interests (9)
|
(268)
|
|
732
|
|
(1,858)
|
|
3,717
|
Net income (loss)
attributable to DDR
|
93,466
|
|
(10,700)
|
|
(72,168)
|
|
117,282
|
Write-off of
preferred share original issuance costs
|
0
|
|
0
|
|
0
|
|
(1,943)
|
Preferred
dividends
|
(5,594)
|
|
(5,594)
|
|
(22,375)
|
|
(24,054)
|
Net income (loss)
attributable to Common Shareholders
|
87,872
|
|
(16,294)
|
|
(94,543)
|
|
91,285
|
FFO:
|
|
|
|
|
|
|
|
Net income (loss)
attributable to common shareholders
|
87,872
|
|
(16,294)
|
|
(94,543)
|
|
91,285
|
Depreciation and
amortization of real estate investments
|
100,582
|
|
105,887
|
|
393,847
|
|
410,172
|
Equity in net loss
(income) of joint ventures
|
5,486
|
|
(748)
|
|
3,135
|
|
(10,989)
|
Impairment of
depreciable joint venture investments
|
1,909
|
|
0
|
|
1,909
|
|
0
|
Joint ventures'
FFO
|
6,465
|
|
5,836
|
|
27,579
|
|
30,344
|
Non-controlling
interests (OP units)
|
69
|
|
223
|
|
635
|
|
732
|
Impairment of
depreciable real estate
|
0
|
|
7,555
|
|
179,748
|
|
19,412
|
Gain on disposition
of depreciable real estate, net
|
(85,728)
|
|
(21,565)
|
|
(164,010)
|
|
(181,319)
|
FFO attributable
to Common Shareholders
|
116,655
|
|
80,894
|
|
348,300
|
|
359,637
|
Non-operating items,
net (10)
|
(2,533)
|
|
31,311
|
|
97,890
|
|
60,756
|
Operating
FFO
|
$114,122
|
|
$112,205
|
|
$446,190
|
|
$420,393
|
FFO per share
– Diluted (11)
|
$0.32
|
|
$0.22
|
|
$0.96
|
|
$1.00
|
Operating FFO per
share – Diluted (11)
|
$0.31
|
|
$0.31
|
|
$1.23
|
|
$1.16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
|
Balance
Sheet: Consolidated Interests
|
|
|
|
|
|
|
|
|
|
$ in
thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At Year
End
|
|
|
|
|
|
|
4Q15
|
|
4Q14
|
Assets:
|
|
|
|
|
|
|
|
Land
|
|
|
|
|
$2,184,145
|
|
$2,208,468
|
Buildings
|
|
|
|
|
6,965,632
|
|
7,087,040
|
Fixtures and tenant
improvements
|
|
|
|
|
743,037
|
|
645,035
|
|
|
|
|
|
|
9,892,814
|
|
9,940,543
|
Less: Accumulated
depreciation
|
|
|
|
|
(2,062,899)
|
|
(1,909,585)
|
|
|
|
|
|
|
7,829,915
|
|
8,030,958
|
Construction in
progress and land
|
|
|
|
|
235,385
|
|
395,242
|
Real estate,
net
|
|
|
|
|
8,065,300
|
|
8,426,200
|
|
|
|
|
|
|
|
|
|
Investments in and
advances to joint ventures
|
|
|
|
72,576
|
|
109,538
|
Preferred equity
interest
|
|
|
|
|
395,156
|
|
305,310
|
Cash
|
|
|
|
|
22,416
|
|
20,937
|
Restricted
cash
|
|
|
|
|
10,104
|
|
11,375
|
Notes receivable,
net
|
|
|
|
|
42,534
|
|
56,245
|
Receivables,
including straight-line rent, net
|
|
|
|
129,089
|
|
132,661
|
Other assets, net
(12), (13)
|
|
|
|
|
359,913
|
|
457,146
|
Total
Assets
|
|
|
|
|
9,097,088
|
|
9,519,412
|
|
|
|
|
|
|
|
|
|
Liabilities and
Equity:
|
|
|
|
|
|
|
|
Revolving credit
facilities
|
|
|
|
|
210,000
|
|
29,009
|
Unsecured debt
(13)
|
|
|
|
|
3,149,188
|
|
2,752,394
|
Unsecured term loan
(13)
|
|
|
|
|
397,934
|
|
347,883
|
Mortgage and other
secured debt (13)
|
|
|
|
1,382,415
|
|
2,082,938
|
|
|
|
|
|
|
5,139,537
|
|
5,212,224
|
Dividends
payable
|
|
|
|
|
68,604
|
|
61,468
|
Other liabilities
(14)
|
|
|
|
|
425,478
|
|
448,192
|
Total
Liabilities
|
|
|
|
|
5,633,619
|
|
5,721,884
|
|
|
|
|
|
|
|
|
|
Preferred
shares
|
|
|
|
|
350,000
|
|
350,000
|
Common
shares
|
|
|
|
|
36,529
|
|
36,071
|
Paid-in
capital
|
|
|
|
|
5,466,511
|
|
5,438,778
|
Accumulated
distributions in excess of net income
|
|
|
|
(2,391,793)
|
|
(2,047,212)
|
Deferred compensation
obligation
|
|
|
|
|
15,537
|
|
16,609
|
Accumulated other
comprehensive income
|
|
|
|
(6,283)
|
|
(7,352)
|
Less: Common shares
in treasury at cost
|
|
|
|
(15,316)
|
|
(16,646)
|
Non-controlling
interests
|
|
|
|
|
8,284
|
|
27,280
|
Total
Equity
|
|
|
|
|
3,463,469
|
|
3,797,528
|
|
|
|
|
|
|
|
|
|
Total Liabilities
and Equity
|
|
|
|
|
$9,097,088
|
|
$9,519,412
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
|
Income
Statement: Unconsolidated Interests at 100%
|
|
|
|
|
|
|
|
|
$ in
thousands
|
|
|
|
|
|
|
|
|
|
4Q15
|
|
4Q14
|
|
12M15
|
|
12M14
|
Revenues:
|
|
|
|
|
|
|
|
Minimum
rents
|
$95,265
|
|
$99,018
|
|
$392,657
|
|
$359,140
|
Percentage
rent
|
1,106
|
|
858
|
|
2,431
|
|
1,909
|
Recoveries
|
29,087
|
|
27,256
|
|
119,321
|
|
91,917
|
Other
revenues
|
1,875
|
|
1,700
|
|
10,288
|
|
32,798
|
|
|
127,333
|
|
128,832
|
|
524,697
|
|
485,764
|
Expenses:
|
|
|
|
|
|
|
|
Operating and
maintenance
|
31,376
|
|
28,810
|
|
125,589
|
|
112,800
|
Real estate
taxes
|
17,509
|
|
17,040
|
|
70,368
|
|
54,891
|
|
|
48,885
|
|
45,850
|
|
195,957
|
|
167,691
|
|
|
|
|
|
|
|
|
|
Net operating
income
|
78,448
|
|
82,982
|
|
328,740
|
|
318,073
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
Interest
expense
|
(33,003)
|
|
(42,306)
|
|
(140,701)
|
|
(171,803)
|
Depreciation and
amortization
|
(49,648)
|
|
(44,485)
|
|
(207,816)
|
|
(151,651)
|
Impairment
charges
|
(52,252)
|
|
(20,983)
|
|
(52,700)
|
|
(21,583)
|
Tax
expense
|
0
|
|
0
|
|
0
|
|
(6,565)
|
Other income
(expense), net
|
(6,020)
|
|
(15,285)
|
|
(7,193)
|
|
(18,249)
|
|
|
(140,923)
|
|
(123,059)
|
|
(408,410)
|
|
(369,851)
|
|
|
|
|
|
|
|
|
|
Loss from continuing
operations
|
(62,475)
|
|
(40,077)
|
|
(79,670)
|
|
(51,778)
|
Gain (loss) from
discontinued operations
|
0
|
|
3,151
|
|
0
|
|
(13,955)
|
Gain on disposition
of discontinued operations, net
|
0
|
|
26,797
|
|
0
|
|
55,020
|
Gain on disposition
of real estate, net
|
21,385
|
|
6,283
|
|
17,188
|
|
10,116
|
Non-controlling
interests
|
0
|
|
0
|
|
0
|
|
(2,022)
|
Net loss attributable
to unconsolidated joint ventures
|
(41,090)
|
|
(3,846)
|
|
(62,482)
|
|
(2,619)
|
Depreciation and
amortization of real estate investments
|
49,648
|
|
46,647
|
|
207,816
|
|
164,668
|
Impairment of
depreciable real estate
|
52,252
|
|
20,983
|
|
52,700
|
|
32,675
|
Gain on disposition
of depreciable real estate, net
|
(21,385)
|
|
(33,080)
|
|
(17,188)
|
|
(65,045)
|
FFO
|
39,425
|
|
30,704
|
|
180,846
|
|
129,679
|
FFO at DDR's
ownership interests
|
6,465
|
|
5,836
|
|
27,579
|
|
30,344
|
Operating FFO at
DDR's ownership interests
|
6,667
|
|
6,771
|
|
27,829
|
|
31,414
|
|
|
|
|
|
|
|
|
|
Net (loss) income at
DDR's ownership interests
|
(6,694)
|
|
(264)
|
|
(5,289)
|
|
9,218
|
Basis
differences
|
1,208
|
|
1,012
|
|
2,154
|
|
1,771
|
Equity in net (loss)
income of joint ventures
|
($5,486)
|
|
$748
|
|
($3,135)
|
|
$10,989
|
|
|
|
DDR
Corp.
|
Balance
Sheet: Unconsolidated Interests at 100%
|
|
|
|
|
|
|
|
|
$ in
thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At Year
End
|
|
|
|
|
|
|
4Q15
|
|
4Q14
|
Assets:
|
|
|
|
|
|
|
|
Land
|
|
|
|
|
$1,343,889
|
|
$ 1,439,849
|
Buildings
|
|
|
|
|
3,551,227
|
|
3,854,585
|
Fixtures and tenant
improvements
|
|
|
|
|
191,581
|
|
200,696
|
|
|
|
|
|
|
5,086,697
|
|
5,495,130
|
Less: Accumulated
depreciation
|
|
|
|
|
(817,235)
|
|
(773,256)
|
|
|
|
|
|
|
4,269,462
|
|
4,721,874
|
Land held for
development and construction in progress
|
|
52,390
|
|
55,698
|
Real estate,
net
|
|
|
|
|
4,321,852
|
|
4,777,572
|
Cash and restricted
cash
|
|
|
|
|
58,916
|
|
100,812
|
Receivables,
including straight-line rent, net
|
|
|
|
52,768
|
|
80,508
|
Other assets,
net
|
|
|
|
318,546
|
|
376,540
|
Total
Assets
|
|
|
|
|
4,752,082
|
|
5,335,432
|
|
|
|
|
|
|
|
|
|
Liabilities and
Equity:
|
|
|
|
|
|
|
|
Mortgage
debt
|
|
|
|
|
3,177,603
|
|
3,534,553
|
Notes and accrued
interest payable to DDR
|
|
|
|
1,556
|
|
144,831
|
Other
liabilities
|
|
|
|
|
219,799
|
|
276,998
|
Total
Liabilities
|
|
|
|
|
3,398,958
|
|
3,956,382
|
|
|
|
|
|
|
|
|
|
Redeemable preferred
equity
|
|
|
|
|
395,156
|
|
305,310
|
Accumulated
equity
|
|
|
|
|
957,968
|
|
1,073,740
|
Total Liabilities
and Equity
|
|
|
|
|
$4,752,082
|
|
$5,335,432
|
|
|
|
DDR
Corp.
|
Financial
Statements: Footnotes
|
|
|
|
|
$ in millions, except
per share
|
|
|
|
Includes discontinued
operations
|
4Q15
|
|
4Q14
|
|
12M15
|
|
12M14
|
|
|
|
|
|
|
|
|
|
(1)
|
Minimum
rents:
|
|
|
|
|
|
|
|
|
Straight-line rent,
net
|
$1.5
|
|
$1.9
|
|
$5.3
|
|
$5.9
|
|
Below-market rent,
net
|
0.7
|
|
0.4
|
|
2.9
|
|
1.3
|
|
Ground lease
revenue
|
9.5
|
|
9.2
|
|
37.4
|
|
33.7
|
|
|
|
|
|
|
|
|
|
(2)
|
Other
revenues:
|
|
|
|
|
|
|
|
|
Lease termination
fees
|
0.5
|
|
0.0
|
|
2.8
|
|
4.1
|
|
Other
miscellaneous
|
0.0
|
|
0.1
|
|
0.5
|
|
0.6
|
|
|
|
|
|
|
|
|
|
(3)
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Recoverable expenses
(2014 excludes sold assets)
|
(64.2)
|
|
(64.1)
|
|
(268.3)
|
|
(251.7)
|
|
Non-recoverable
expenses (2014 excludes sold assets)
|
(6.0)
|
|
(6.0)
|
|
(25.4)
|
|
(29.4)
|
|
Straight-line ground
rent expense
|
(0.1)
|
|
(0.3)
|
|
(0.5)
|
|
(1.1)
|
|
Expensed costs of
suspended developments
|
(0.1)
|
|
(0.5)
|
|
(0.5)
|
|
(1.3)
|
|
|
|
|
|
|
|
|
|
(4)
|
Non-cash interest
expense:
|
|
|
|
|
|
|
|
|
Convertible debt
accretion
|
(1.0)
|
|
(2.9)
|
|
(9.9)
|
|
(11.4)
|
|
Debt fair value
amortization
|
1.6
|
|
5.4
|
|
14.4
|
|
17.9
|
|
Loan cost
amortization
|
(2.3)
|
|
(2.5)
|
|
(9.6)
|
|
(12.0)
|
|
Interest expense
(capitalized)
|
1.5
|
|
2.0
|
|
6.7
|
|
8.7
|
|
|
|
|
|
|
|
|
|
(5)
|
General and
administrative expenses:
|
|
|
|
|
|
|
|
|
Executive separation
charges
|
(0.3)
|
|
(5.4)
|
|
(2.6)
|
|
(5.6)
|
|
Stock compensation
expenses
|
(1.4)
|
|
(1.9)
|
|
(6.6)
|
|
(7.7)
|
|
Internal leasing
expenses
|
(2.0)
|
|
(1.6)
|
|
(7.5)
|
|
(7.1)
|
|
Construction
administrative costs (capitalized)
|
2.1
|
|
2.5
|
|
9.1
|
|
9.9
|
|
|
|
|
|
|
|
|
|
(6)
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
Transactions and
other, net
|
(0.3)
|
|
(0.8)
|
|
(0.7)
|
|
(9.7)
|
|
Litigation
expenses
|
(0.0)
|
|
(1.0)
|
|
(0.0)
|
|
(3.2)
|
|
Debt extinguishment,
net
|
(0.1)
|
|
0.6
|
|
(1.0)
|
|
0.6
|
|
|
|
|
|
|
|
|
|
(7)
|
Impairment
charges:
|
|
|
|
|
|
|
|
|
Assets marketed for
sale
|
(0.0)
|
|
(7.6)
|
|
(179.7)
|
|
(19.5)
|
|
Land previously held
for development
|
(0.0)
|
|
(3.5)
|
|
(99.3)
|
|
(18.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
|
Financial
Statements: Footnotes
|
|
|
|
|
$ in millions, except
per share
|
|
|
|
Includes discontinued
operations
|
4Q15
|
|
4Q14
|
|
12M15
|
|
12M14
|
|
|
|
|
|
|
|
|
|
(8)
|
Discontinued
operations:
|
|
|
|
|
|
|
|
|
Revenues
|
n/a
|
|
$3.2
|
|
n/a
|
|
$39.5
|
|
Expenses
|
n/a
|
|
(2.0)
|
|
n/a
|
|
(21.0)
|
|
Impairments
|
n/a
|
|
(0.0)
|
|
n/a
|
|
(8.9)
|
|
Depreciation
|
n/a
|
|
(1.4)
|
|
n/a
|
|
(16.2)
|
|
Gain on disposition
of real estate, net
|
n/a
|
|
21.7
|
|
n/a
|
|
96.0
|
|
Net income
|
n/a
|
|
21.5
|
|
n/a
|
|
89.4
|
|
|
|
Note: Presented
only for 2014 as DDR adopted new accounting guidance on January 1,
2015, which changed the definition for reporting.
|
|
|
|
|
|
|
|
|
|
(9)
|
Non-controlling
interests:
|
|
|
|
|
|
|
|
|
FFO attributable to
non-controlling interests
|
(0.2)
|
|
0.9
|
|
(1.4)
|
|
2.8
|
|
Operating FFO
attributable to non-controlling interests
|
(0.2)
|
|
(0.1)
|
|
(1.0)
|
|
(0.8)
|
|
|
|
|
|
|
|
|
|
(10)
|
Non-operating
items excluded from Operating FFO:
|
|
|
|
|
|
|
|
|
Non-cash impairment
charges – non-depreciable assets
|
0.0
|
|
25.0
|
|
99.3
|
|
49.3
|
|
Executive separation
charges
|
0.3
|
|
5.4
|
|
2.6
|
|
5.6
|
|
Transaction, debt
extinguishment, litigation, other, net
|
0.7
|
|
1.8
|
|
2.3
|
|
13.7
|
|
Joint ventures –
transaction, currency, other
|
0.2
|
|
0.9
|
|
0.2
|
|
1.1
|
|
Non-cash gain on sale
and change in control of interests, net
|
0.0
|
|
(0.3)
|
|
(7.8)
|
|
(4.3)
|
|
Tax expense
(primarily Puerto Rico restructuring)
|
0.0
|
|
0.0
|
|
4.4
|
|
0.0
|
|
Gain on sale of
non-depreciable real estate, net
|
(3.7)
|
|
(1.5)
|
|
(3.1)
|
|
(6.5)
|
|
Non-cash write-off of
preferred share original issuance costs
|
0.0
|
|
0.0
|
|
0.0
|
|
1.9
|
|
|
(2.5)
|
|
31.3
|
|
97.9
|
|
60.8
|
(11)
|
Outstanding per
share information:
|
|
|
|
|
|
|
|
|
Common shares (at
quarter end)
|
365.3
|
|
360.7
|
|
365.3
|
|
360.7
|
|
OP units (at quarter
end)
|
0.4
|
|
1.4
|
|
0.4
|
|
1.4
|
|
Total shares and
units (at quarter end)
|
365.7
|
|
362.1
|
|
365.7
|
|
362.1
|
|
Weighted average
shares and units – Basic – EPS
|
362.7
|
|
359.0
|
|
360.9
|
|
358.1
|
|
Assumed conversion of
dilutive securities
|
2.5
|
|
0.0
|
|
0.0
|
|
0.0
|
|
Weighted average
shares and units – Diluted – EPS
|
365.2
|
|
359.0
|
|
360.9
|
|
358.1
|
|
Weighted average
shares and units – Basic – FFO & OFFO
|
364.0
|
|
361.9
|
|
362.9
|
|
360.6
|
|
Assumed conversion of
dilutive securities
|
0.4
|
|
0.5
|
|
0.4
|
|
0.5
|
|
Weighted average
shares and units – Diluted – FFO & OFFO
|
364.4
|
|
362.4
|
|
363.3
|
|
361.1
|
|
Earnings per common
share – Basic & Diluted
|
$0.24
|
|
$(0.05)
|
|
$(0.27)
|
|
$0.25
|
|
FFO per share – Basic
& Diluted
|
$0.32
|
|
$0.22
|
|
$0.96
|
|
$1.00
|
|
Operating FFO per
share – Diluted
|
$0.31
|
|
$0.31
|
|
$1.23
|
|
$1.16
|
|
Common stock
dividends declared, per share
|
$0.1725
|
|
$0.155
|
|
$0.69
|
|
$0.62
|
|
|
|
|
|
|
|
|
|
|
|
|
DDR
Corp.
|
Financial
Statements: Footnotes
|
|
|
|
|
|
|
|
|
$ in millions, except
per share
|
|
|
|
|
|
|
|
Includes discontinued
operations
|
4Q15
|
|
4Q14
|
|
12M15
|
|
12M14
|
|
|
|
|
|
|
|
|
|
(12)
|
Intangible assets,
net (at year end)
|
|
|
|
|
$311.0
|
|
$389.2
|
|
|
|
|
|
|
|
|
|
(13)
|
Loan costs,
net (at year end)
|
|
|
|
|
23.8
|
|
22.5
|
|
|
|
Note: DDR
adopted new accounting guidance, which changed the presentation
requirements retroactively. Loan costs for term debt are now
required to be presented as a direct deduction from the related
debt liability rather than as an asset.
|
|
|
|
|
|
|
|
|
|
(14)
|
Below-market
leases, net (at year end)
|
|
|
|
|
155.3
|
|
139.3
|
|
|
|
|
|
|
|
|
|
Additional
financial information:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures (DDR share):
|
|
|
|
|
|
|
|
|
Retenanting
|
$12.9
|
|
$8.5
|
|
$49.0
|
|
$39.0
|
|
Maintenance –
total
|
2.9
|
|
5.2
|
|
16.2
|
|
14.4
|
|
Maintenance PSF of
owned GLA – non reimbursable
|
|
|
|
|
0.13
|
|
0.14
|
|
|
|
|
|
|
|
|
|
|
Miscellaneous
(DDR share):
|
|
|
|
|
|
|
|
|
Est. value of land
owned adjacent to existing centers (at 12/31/15)
|
|
|
|
|
26.0
|
|
|
|
Cost basis of
headquarters (non-income producing at 12/31/15)
|
|
|
|
|
40.0
|
|
|
|
|
|
|
|
|
|
|
|