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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUE:        
Lease income $ 1,298,567   $ 2,578,623  
Lease income   $ 1,258,698   $ 2,526,590
Management fees and other revenues 28,248 28,541 55,792 56,722
Other income 70,371 97,820 215,604 195,929
Total revenue 1,397,186 1,385,059 2,850,019 2,779,241
EXPENSES:        
Property operating 106,119 102,951 217,669 216,400
Depreciation and amortization 352,606 320,198 681,249 637,134
Real estate taxes 115,914 111,449 231,372 225,635
Repairs and maintenance 21,850 22,191 49,772 49,875
Advertising and promotion 35,420 36,491 72,545 71,291
Home and regional office costs 46,467 32,316 99,027 73,380
General and administrative 10,359 10,913 19,496 23,542
Other 27,820 20,567 53,236 49,041
Total operating expenses 716,555 657,076 1,424,366 1,346,298
OPERATING INCOME BEFORE OTHER ITEMS 680,631 727,983 1,425,653 1,432,943
Interest expense (198,425) (206,624) (397,160) (412,115)
Income and other taxes (7,010) (10,137) (17,112) (16,357)
Income from unconsolidated entities 106,542 100,828 196,986 190,854
Unrealized (losses) gains in fair value of equity instruments (12,317) 9,692 (7,000) 6,664
Gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 2,681 9,672 2,681 144,949
CONSOLIDATED NET INCOME 572,102 631,414 1,204,048 1,346,938
Net income (loss) attributable to noncontrolling interests 75,944 83,576 158,580 177,611
Preferred dividends 834 834 1,669 1,669
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS $ 495,324 $ 547,004 $ 1,043,799 $ 1,167,658
BASIC AND DILUTED EARNINGS PER COMMON SHARE or UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 1.60 $ 1.77 $ 3.38 $ 3.77
Consolidated Net Income $ 572,102 $ 631,414 $ 1,204,048 $ 1,346,938
Unrealized (loss) gain on derivative hedge agreements (7,022) 21,260 2,320 15,113
Net loss reclassified from accumulated other comprehensive loss into earnings 1,086 2,185 2,174 4,339
Currency translation adjustments (3,623) (38,126) (8,368) (25,034)
Changes in available-for-sale securities and other 539 222 683 (66)
Comprehensive income 563,082 616,955 1,200,857 1,341,290
Comprehensive income attributable to noncontrolling interests 74,704 81,654 158,116 176,794
Comprehensive income attributable to common stockholders or unitholders 488,378 535,301 1,042,741 1,164,496
Simon Property Group, L.P.        
REVENUE:        
Lease income 1,298,567   2,578,623  
Lease income   1,258,698   2,526,590
Management fees and other revenues 28,248 28,541 55,792 56,722
Other income 70,371 97,820 215,604 195,929
Total revenue 1,397,186 1,385,059 2,850,019 2,779,241
EXPENSES:        
Property operating 106,119 102,951 217,669 216,400
Depreciation and amortization 352,606 320,198 681,249 637,134
Real estate taxes 115,914 111,449 231,372 225,635
Repairs and maintenance 21,850 22,191 49,772 49,875
Advertising and promotion 35,420 36,491 72,545 71,291
Home and regional office costs 46,467 32,316 99,027 73,380
General and administrative 10,359 10,913 19,496 23,542
Other 27,820 20,567 53,236 49,041
Total operating expenses 716,555 657,076 1,424,366 1,346,298
OPERATING INCOME BEFORE OTHER ITEMS 680,631 727,983 1,425,653 1,432,943
Interest expense (198,425) (206,624) (397,160) (412,115)
Income and other taxes (7,010) (10,137) (17,112) (16,357)
Income from unconsolidated entities 106,542 100,828 196,986 190,854
Unrealized (losses) gains in fair value of equity instruments (12,317) 9,692 (7,000) 6,664
Gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 2,681 9,672 2,681 144,949
CONSOLIDATED NET INCOME 572,102 631,414 1,204,048 1,346,938
Net income (loss) attributable to noncontrolling interests 400 279 (518) 186
Preferred dividends 1,313 1,313 2,626 2,626
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS 570,389 629,822 1,201,940 1,344,126
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 495,324 547,004 1,043,799 1,167,658
Limited Partners $ 75,065 $ 82,818 $ 158,141 $ 176,468
BASIC AND DILUTED EARNINGS PER COMMON SHARE or UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 1.60 $ 1.77 $ 3.38 $ 3.77
Consolidated Net Income $ 572,102 $ 631,414 $ 1,204,048 $ 1,346,938
Unrealized (loss) gain on derivative hedge agreements (7,022) 21,260 2,320 15,113
Net loss reclassified from accumulated other comprehensive loss into earnings 1,086 2,185 2,174 4,339
Currency translation adjustments (3,623) (38,126) (8,368) (25,034)
Changes in available-for-sale securities and other 539 222 683 (66)
Comprehensive income 563,082 616,955 1,200,857 1,341,290
Comprehensive income attributable to noncontrolling interests 427 218 575 745
Comprehensive income attributable to common stockholders or unitholders $ 562,655 $ 616,737 $ 1,200,282 $ 1,340,545