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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUE:      
Lease income $ 5,164,335 $ 4,905,175 $ 4,736,719
Management fees and other revenues 125,995 116,904 106,483
Other income 368,506 269,368 273,587
Total revenue 5,658,836 5,291,447 5,116,789
EXPENSES:      
Property operating 489,346 464,135 415,720
Depreciation and amortization 1,262,107 1,227,371 1,262,715
Real estate taxes 441,783 443,224 458,953
Repairs and maintenance 97,257 93,595 96,391
Advertising and promotion 127,346 107,793 114,303
Home and regional office costs 207,618 184,592 184,660
General and administrative 38,513 34,971 30,339
Other 187,844 152,213 140,518
Total operating expenses 2,851,814 2,707,894 2,703,599
OPERATING INCOME BEFORE OTHER ITEMS 2,807,022 2,583,553 2,413,190
Interest expense (854,648) (761,253) (795,712)
Loss on extinguishment of debt     (51,841)
Gain on disposal, exchange, or revaluation of equity interests, net (Notes 3 and 6) 362,019 121,177 178,672
Income and other tax expense (81,874) (83,512) (157,199)
Income from unconsolidated entities 375,663 647,977 782,837
Unrealized gains (losses) in fair value of publicly traded equity instruments and derivative instrument, net 11,892 (61,204) (8,095)
(Loss) gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net (3,056) 5,647 206,855
CONSOLIDATED NET INCOME 2,617,018 2,452,385 2,568,707
Net income attributable to noncontrolling interests 333,892 312,850 319,076
Preferred dividends 3,337 3,337 3,337
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 2,279,789 $ 2,136,198 $ 2,246,294
BASIC AND DILUTED EARNINGS PER COMMON SHARE:      
Net income attributable to common stockholders - basic (in dollars per share) $ 6.98 $ 6.52 $ 6.84
Net income attributable to common stockholders - diluted (in dollars per share) $ 6.98 $ 6.52 $ 6.84
Consolidated Net Income $ 2,617,018 $ 2,452,385 $ 2,568,707
Unrealized gain on derivative hedge agreements 18,350 54,808 51,114
Net gain reclassified from accumulated other comprehensive loss into earnings (4,084) (1,595) (7,285)
Currency translation adjustments (26,513) (28,119) (38,772)
Changes in available-for-sale securities and other 2,254 (2,009) (1,014)
Comprehensive income 2,607,025 2,475,470 2,572,750
Comprehensive income attributable to noncontrolling interests 331,814 315,622 319,629
Comprehensive income attributable to common stockholders 2,275,211 2,159,848 2,253,121
Simon Property Group, L.P.      
REVENUE:      
Lease income 5,164,335 4,905,175 4,736,719
Management fees and other revenues 125,995 116,904 106,483
Other income 368,506 269,368 273,587
Total revenue 5,658,836 5,291,447 5,116,789
EXPENSES:      
Property operating 489,346 464,135 415,720
Depreciation and amortization 1,262,107 1,227,371 1,262,715
Real estate taxes 441,783 443,224 458,953
Repairs and maintenance 97,257 93,595 96,391
Advertising and promotion 127,346 107,793 114,303
Home and regional office costs 207,618 184,592 184,660
General and administrative 38,513 34,971 30,339
Other 187,844 152,213 140,518
Total operating expenses 2,851,814 2,707,894 2,703,599
OPERATING INCOME BEFORE OTHER ITEMS 2,807,022 2,583,553 2,413,190
Interest expense (854,648) (761,253) (795,712)
Loss on extinguishment of debt     (51,841)
Gain on disposal, exchange, or revaluation of equity interests, net (Notes 3 and 6) 362,019 121,177 178,672
Income and other tax expense (81,874) (83,512) (157,199)
Income from unconsolidated entities 375,663 647,977 782,837
Unrealized gains (losses) in fair value of publicly traded equity instruments and derivative instrument, net 11,892 (61,204) (8,095)
(Loss) gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net (3,056) 5,647 206,855
CONSOLIDATED NET INCOME 2,617,018 2,452,385 2,568,707
Net income attributable to noncontrolling interests (1,336) 2,738 (6,053)
Preferred dividends 5,237 5,252 5,252
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS 2,613,117 2,444,395 2,569,508
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:      
General Partner 2,279,789 2,136,198 2,246,294
Limited Partners $ 333,328 $ 308,197 $ 323,214
BASIC AND DILUTED EARNINGS PER COMMON SHARE:      
Net income attributable to common stockholders - basic (in dollars per share) $ 6.98 $ 6.52 $ 6.84
Net income attributable to common stockholders - diluted (in dollars per share) $ 6.98 $ 6.52 $ 6.84
Consolidated Net Income $ 2,617,018 $ 2,452,385 $ 2,568,707
Unrealized gain on derivative hedge agreements 18,350 54,808 51,114
Net gain reclassified from accumulated other comprehensive loss into earnings (4,084) (1,595) (7,285)
Currency translation adjustments (26,513) (28,119) (38,772)
Changes in available-for-sale securities and other 2,254 (2,009) (1,014)
Comprehensive income 2,607,025 2,475,470 2,572,750
Comprehensive income attributable to noncontrolling interests 610 1,572 (2,634)
Comprehensive income attributable to common stockholders $ 2,606,415 $ 2,473,898 $ 2,575,384