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 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUE:        
Minimum rent $ 864,514 $ 861,184 $ 2,581,792 $ 2,559,535
Overage rent 39,601 36,634 104,533 94,601
Tenant reimbursements 385,543 386,713 1,138,855 1,146,156
Management fees and other revenues 28,784 28,946 85,506 90,860
Other income 90,563 90,161 286,491 219,796
Total revenue 1,409,005 1,403,638 4,197,177 4,110,948
EXPENSES:        
Property operating 119,021 118,807 335,420 330,226
Depreciation and amortization 316,175 317,037 953,309 950,265
Real estate taxes 119,315 111,953 344,950 332,027
Repairs and maintenance 23,632 25,352 73,507 72,654
Advertising and promotion 36,688 36,006 107,979 108,450
Provision for credit losses 4,984 2,895 13,915 10,765
Home and regional office costs 32,714 31,451 106,093 110,906
General and administrative 12,172 13,014 35,713 40,089
Other 26,913 57,055 69,293 102,678
Total operating expenses 691,614 713,570 2,040,179 2,058,060
OPERATING INCOME 717,391 690,068 2,156,998 2,052,888
Interest expense (199,469) (199,032) (611,585) (604,408)
Loss on extinguishment of debt       (128,618)
Income and other taxes (10,118) (14,511) (26,475) (16,981)
Income from unconsolidated entities 134,408 116,110 325,263 277,212
Gain upon acquisition of controlling interests, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net     144,949 4,989
CONSOLIDATED NET INCOME 642,212 592,635 1,989,150 1,585,082
Net income (loss) attributable to noncontrolling interests 85,111 78,018 262,722 209,070
Preferred dividends 834 834 2,503 2,503
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS $ 556,267 $ 513,783 $ 1,723,925 $ 1,373,509
BASIC AND DILUTED EARNINGS PER COMMON SHARE or UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 1.80 $ 1.65 $ 5.57 $ 4.41
Consolidated Net Income $ 642,212 $ 592,635 $ 1,989,150 $ 1,585,082
Unrealized gain (loss) on derivative hedge agreements 5,241 (8,598) 20,355 (31,396)
Net loss (gain) reclassified from accumulated other comprehensive loss into earnings 1,591 (19,362) 5,929 (14,303)
Currency translation adjustments (10,763) 12,922 (35,797) 42,815
Changes in available-for-sale securities and other (22) 6,787 (88) 6,324
Comprehensive income 638,259 584,384 1,979,549 1,588,522
Comprehensive income attributable to noncontrolling interests 84,466 76,935 261,260 209,424
Comprehensive income attributable to common stockholders or unitholders 553,793 507,449 1,718,289 1,379,098
Simon Property Group, L.P.        
REVENUE:        
Minimum rent 864,514 861,184 2,581,792 2,559,535
Overage rent 39,601 36,634 104,533 94,601
Tenant reimbursements 385,543 386,713 1,138,855 1,146,156
Management fees and other revenues 28,784 28,946 85,506 90,860
Other income 90,563 90,161 286,491 219,796
Total revenue 1,409,005 1,403,638 4,197,177 4,110,948
EXPENSES:        
Property operating 119,021 118,807 335,420 330,226
Depreciation and amortization 316,175 317,037 953,309 950,265
Real estate taxes 119,315 111,953 344,950 332,027
Repairs and maintenance 23,632 25,352 73,507 72,654
Advertising and promotion 36,688 36,006 107,979 108,450
Provision for credit losses 4,984 2,895 13,915 10,765
Home and regional office costs 32,714 31,451 106,093 110,906
General and administrative 12,172 13,014 35,713 40,089
Other 26,913 57,055 69,293 102,678
Total operating expenses 691,614 713,570 2,040,179 2,058,060
OPERATING INCOME 717,391 690,068 2,156,998 2,052,888
Interest expense (199,469) (199,032) (611,585) (604,408)
Loss on extinguishment of debt       (128,618)
Income and other taxes (10,118) (14,511) (26,475) (16,981)
Income from unconsolidated entities 134,408 116,110 325,263 277,212
Gain upon acquisition of controlling interests, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net     144,949 4,989
CONSOLIDATED NET INCOME 642,212 592,635 1,989,150 1,585,082
Net income (loss) attributable to noncontrolling interests 497 (550) 684 (721)
Preferred dividends 1,313 1,313 3,939 3,939
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS 640,402 591,872 1,984,527 1,581,864
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 556,267 513,783 1,723,925 1,373,509
Limited Partners $ 84,135 $ 78,089 $ 260,602 $ 208,355
BASIC AND DILUTED EARNINGS PER COMMON SHARE or UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 1.80 $ 1.65 $ 5.57 $ 4.41
Consolidated Net Income $ 642,212 $ 592,635 $ 1,989,150 $ 1,585,082
Unrealized gain (loss) on derivative hedge agreements 5,241 (8,598) 20,355 (31,396)
Net loss (gain) reclassified from accumulated other comprehensive loss into earnings 1,591 (19,362) 5,929 (14,303)
Currency translation adjustments (10,763) 12,922 (35,797) 42,815
Changes in available-for-sale securities and other (22) 6,787 (88) 6,324
Comprehensive income 638,259 584,384 1,979,549 1,588,522
Comprehensive income attributable to noncontrolling interests 318 316 1,063 1,388
Comprehensive income attributable to common stockholders or unitholders $ 637,941 $ 584,068 $ 1,978,486 $ 1,587,134