XML 24 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUE:        
Minimum rent $ 842,801 $ 788,368 $ 2,483,560 $ 2,309,951
Overage rent 40,089 47,433 100,256 123,419
Tenant reimbursements 378,187 373,223 1,116,863 1,077,702
Management fees and other revenues 41,721 38,568 109,598 113,674
Other income 54,370 72,545 198,986 260,736
Total revenue 1,357,168 1,320,137 4,009,263 3,885,482
EXPENSES:        
Property operating 120,099 115,820 327,915 315,418
Depreciation and amortization 311,757 289,360 915,956 873,243
Real estate taxes 111,727 114,145 328,656 327,519
Repairs and maintenance 23,178 21,189 72,085 73,599
Advertising and promotion 35,695 38,756 103,905 98,727
(Recovery of) provision for credit losses (747) (361) 7,861 6,172
Home and regional office costs 41,606 37,204 120,539 112,454
General and administrative 15,154 14,838 45,143 45,182
Other 22,508 31,599 66,875 74,025
Total operating expenses 680,977 662,550 1,988,935 1,926,339
OPERATING INCOME 676,191 657,587 2,020,328 1,959,143
Interest expense (214,861) (229,654) (648,048) (692,801)
Income and other taxes (6,325) (3,658) (28,626) (13,440)
Income from unconsolidated entities 83,374 68,221 258,990 203,289
Gain upon acquisition of controlling interests and sale or disposal of assets and interests in unconsolidated entities, net 49,561   76,459 223,266
CONSOLIDATED NET INCOME 587,940 492,496 1,679,103 1,679,457
Net income attributable to noncontrolling interests 82,362 71,653 235,472 244,868
Preferred dividends or unit requirements 834 834 2,503 2,503
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS $ 504,744 $ 420,009 $ 1,441,128 $ 1,432,086
BASIC AND DILUTED EARNINGS PER COMMON SHARE or UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 1.61 $ 1.36 $ 4.61 $ 4.62
Consolidated Net Income $ 587,940 $ 492,496 $ 1,679,103 $ 1,679,457
Unrealized (loss) gain on derivative hedge agreements (1,256) (6,884) (16,351) 12,455
Net loss (gain) reclassified from accumulated other comprehensive loss into earnings 3,199 2,819 145,737 (72,090)
Currency translation adjustments 1,447 (6,033) 18,888 (144,826)
Changes in available-for-sale securities and other 1,313 8,004 13,375 (14,080)
Comprehensive income 592,643 490,402 1,840,752 1,460,916
Comprehensive income attributable to noncontrolling interests 82,982 71,352 260,267 213,654
Comprehensive income attributable to common stockholders or unitholders 509,661 419,050 1,580,485 1,247,262
Simon Property Group L.P.        
REVENUE:        
Minimum rent 842,801 788,368 2,483,560 2,309,951
Overage rent 40,089 47,433 100,256 123,419
Tenant reimbursements 378,187 373,223 1,116,863 1,077,702
Management fees and other revenues 41,721 38,568 109,598 113,674
Other income 54,370 72,545 198,986 260,736
Total revenue 1,357,168 1,320,137 4,009,263 3,885,482
EXPENSES:        
Property operating 120,099 115,820 327,915 315,418
Depreciation and amortization 311,757 289,360 915,956 873,243
Real estate taxes 111,727 114,145 328,656 327,519
Repairs and maintenance 23,178 21,189 72,085 73,599
Advertising and promotion 35,695 38,756 103,905 98,727
(Recovery of) provision for credit losses (747) (361) 7,861 6,172
Home and regional office costs 41,606 37,204 120,539 112,454
General and administrative 15,154 14,838 45,143 45,182
Other 22,508 31,599 66,875 74,025
Total operating expenses 680,977 662,550 1,988,935 1,926,339
OPERATING INCOME 676,191 657,587 2,020,328 1,959,143
Interest expense (214,861) (229,654) (648,048) (692,801)
Income and other taxes (6,325) (3,658) (28,626) (13,440)
Income from unconsolidated entities 83,374 68,221 258,990 203,289
Gain upon acquisition of controlling interests and sale or disposal of assets and interests in unconsolidated entities, net 49,561   76,459 223,266
CONSOLIDATED NET INCOME 587,940 492,496 1,679,103 1,679,457
Net income attributable to noncontrolling interests 5,361 839 6,655 2,138
Preferred dividends or unit requirements 1,313 1,313 3,939 3,939
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS 581,266 490,344 1,668,509 1,673,380
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 504,744 420,009 1,441,128 1,432,086
Limited Partners $ 76,522 $ 70,335 $ 227,381 $ 241,294
BASIC AND DILUTED EARNINGS PER COMMON SHARE or UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 1.61 $ 1.36 $ 4.61 $ 4.62
Consolidated Net Income $ 587,940 $ 492,496 $ 1,679,103 $ 1,679,457
Unrealized (loss) gain on derivative hedge agreements (1,256) (6,884) (16,351) 12,455
Net loss (gain) reclassified from accumulated other comprehensive loss into earnings 3,199 2,819 145,737 (72,090)
Currency translation adjustments 1,447 (6,033) 18,888 (144,826)
Changes in available-for-sale securities and other 1,313 8,004 13,375 (14,080)
Comprehensive income 592,643 490,402 1,840,752 1,460,916
Comprehensive income attributable to noncontrolling interests 5,361 839 6,655 2,138
Comprehensive income attributable to common stockholders or unitholders $ 587,282 $ 489,563 $ 1,834,097 $ 1,458,778