XML 24 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Unaudited Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUE:        
Minimum rent $ 857,106 $ 851,552 $ 1,717,277 $ 1,698,350
Overage rent 31,942 29,764 64,932 57,967
Tenant reimbursements 372,949 380,527 753,312 759,442
Management fees and other revenues 28,541 31,367 56,722 61,914
Other income 97,820 68,338 195,929 129,638
Total revenue 1,388,358 1,361,548 2,788,172 2,707,311
EXPENSES:        
Property operating 102,951 107,371 216,400 211,419
Depreciation and amortization 320,198 322,396 637,134 633,228
Real estate taxes 111,449 113,415 225,635 220,073
Repairs and maintenance 22,191 21,700 49,875 47,301
Advertising and promotion 36,491 36,496 71,291 72,444
Provision for credit losses 3,299 2,659 8,931 7,870
Home and regional office costs 32,316 36,476 73,380 79,455
General and administrative 10,913 13,074 23,542 27,075
Other 10,875 21,812 42,377 45,627
Total operating expenses 650,683 675,399 1,348,565 1,344,492
OPERATING INCOME 737,675 686,149 1,439,607 1,362,819
Interest expense (206,624) (207,174) (412,115) (405,373)
Loss on extinguishment of debt   (128,618)   (128,618)
Income and other taxes (10,137) (5,990) (16,357) (2,470)
Income from unconsolidated entities 100,828 92,017 190,854 161,101
Gain upon acquisition of controlling interests, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 9,672 4,989 144,949 4,989
CONSOLIDATED NET INCOME 631,414 441,373 1,346,938 992,448
Net income (loss) attributable to noncontrolling interests 83,576 58,549 177,611 131,053
Preferred dividends 834 834 1,669 1,669
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS $ 547,004 $ 381,990 $ 1,167,658 $ 859,726
BASIC AND DILUTED EARNINGS PER COMMON SHARE or UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 1.77 $ 1.23 $ 3.77 $ 2.75
Consolidated Net Income $ 631,414 $ 441,373 $ 1,346,938 $ 992,448
Unrealized gain (loss) on derivative hedge agreements 21,260 (21,545) 15,113 (22,798)
Net loss reclassified from accumulated other comprehensive loss into earnings 2,185 2,439 4,339 5,059
Currency translation adjustments (38,126) 16,745 (25,034) 29,892
Changes in available-for-sale securities and other 222 (1,152) (66) (463)
Comprehensive income 616,955 437,860 1,341,290 1,004,138
Comprehensive income attributable to noncontrolling interests 81,654 58,065 176,794 132,490
Comprehensive income attributable to common stockholders or unitholders 535,301 379,795 1,164,496 871,648
Simon Property Group, L.P.        
REVENUE:        
Minimum rent 857,106 851,552 1,717,277 1,698,350
Overage rent 31,942 29,764 64,932 57,967
Tenant reimbursements 372,949 380,527 753,312 759,442
Management fees and other revenues 28,541 31,367 56,722 61,914
Other income 97,820 68,338 195,929 129,638
Total revenue 1,388,358 1,361,548 2,788,172 2,707,311
EXPENSES:        
Property operating 102,951 107,371 216,400 211,419
Depreciation and amortization 320,198 322,396 637,134 633,228
Real estate taxes 111,449 113,415 225,635 220,073
Repairs and maintenance 22,191 21,700 49,875 47,301
Advertising and promotion 36,491 36,496 71,291 72,444
Provision for credit losses 3,299 2,659 8,931 7,870
Home and regional office costs 32,316 36,476 73,380 79,455
General and administrative 10,913 13,074 23,542 27,075
Other 10,875 21,812 42,377 45,627
Total operating expenses 650,683 675,399 1,348,565 1,344,492
OPERATING INCOME 737,675 686,149 1,439,607 1,362,819
Interest expense (206,624) (207,174) (412,115) (405,373)
Loss on extinguishment of debt   (128,618)   (128,618)
Income and other taxes (10,137) (5,990) (16,357) (2,470)
Income from unconsolidated entities 100,828 92,017 190,854 161,101
Gain upon acquisition of controlling interests, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 9,672 4,989 144,949 4,989
CONSOLIDATED NET INCOME 631,414 441,373 1,346,938 992,448
Net income (loss) attributable to noncontrolling interests 279 74 186 (170)
Preferred dividends 1,313 1,313 2,626 2,626
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS 629,822 439,986 1,344,126 989,992
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 547,004 381,990 1,167,658 859,726
Limited Partners $ 82,818 $ 57,996 $ 176,468 $ 130,266
BASIC AND DILUTED EARNINGS PER COMMON SHARE or UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 1.77 $ 1.23 $ 3.77 $ 2.75
Consolidated Net Income $ 631,414 $ 441,373 $ 1,346,938 $ 992,448
Unrealized gain (loss) on derivative hedge agreements 21,260 (21,545) 15,113 (22,798)
Net loss reclassified from accumulated other comprehensive loss into earnings 2,185 2,439 4,339 5,059
Currency translation adjustments (38,126) 16,745 (25,034) 29,892
Changes in available-for-sale securities and other 222 (1,152) (66) (463)
Comprehensive income 616,955 437,860 1,341,290 1,004,138
Comprehensive income attributable to noncontrolling interests 218 397 745 1,072
Comprehensive income attributable to common stockholders or unitholders $ 616,737 $ 437,463 $ 1,340,545 $ 1,003,066