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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUE:        
Lease income $ 1,308,908   $ 3,887,532  
Lease income   $ 1,284,674   $ 3,811,265
Management fees and other revenues 27,976 28,784 83,768 85,506
Other income 79,670 90,563 295,274 286,491
Total revenue 1,416,554 1,404,021 4,266,574 4,183,262
EXPENSES:        
Property operating 121,735 119,021 339,404 335,420
Depreciation and amortization 334,944 316,175 1,016,193 953,309
Real estate taxes 118,031 119,315 349,404 344,950
Repairs and maintenance 23,979 23,632 73,752 73,507
Advertising and promotion 36,583 36,688 109,128 107,979
Home and regional office costs 45,865 32,714 144,892 106,093
General and administrative 8,032 12,172 27,528 35,713
Other 22,083 21,461 75,318 70,505
Total operating expenses 711,252 681,178 2,135,619 2,027,476
OPERATING INCOME BEFORE OTHER ITEMS 705,302 722,843 2,130,955 2,155,786
Interest expense (202,382) (199,469) (599,541) (611,585)
Income and other taxes (6,197) (10,118) (23,309) (26,475)
Income from unconsolidated entities 119,706 134,408 316,691 325,263
Unrealized gains (losses) in fair value of equity instruments 2,154 (5,452) (4,846) 1,212
Gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 10,141   12,822 144,949
CONSOLIDATED NET INCOME 628,724 642,212 1,832,772 1,989,150
Net income (loss) attributable to noncontrolling interests 83,636 85,111 242,216 262,722
Preferred dividends 834 834 2,503 2,503
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS $ 544,254 $ 556,267 $ 1,588,053 $ 1,723,925
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 $ 1.80 $ 5.15 $ 5.57
Consolidated Net Income $ 628,724 $ 642,212 $ 1,832,772 $ 1,989,150
Unrealized gain (loss) on derivative hedge agreements 12,907 5,241 15,227 20,355
Net loss reclassified from accumulated other comprehensive loss into earnings 1,087 1,591 3,261 5,929
Currency translation adjustments (6,288) (10,763) (14,656) (35,797)
Changes in available-for-sale securities and other 468 (22) 1,151 (88)
Comprehensive income 636,898 638,259 1,837,755 1,979,549
Comprehensive income attributable to noncontrolling interests 84,662 84,466 242,778 261,260
Comprehensive income attributable to common stockholders or unitholders 552,236 553,793 1,594,977 1,718,289
Simon Property Group, L.P.        
REVENUE:        
Lease income 1,308,908   3,887,532  
Lease income   1,284,674   3,811,265
Management fees and other revenues 27,976 28,784 83,768 85,506
Other income 79,670 90,563 295,274 286,491
Total revenue 1,416,554 1,404,021 4,266,574 4,183,262
EXPENSES:        
Property operating 121,735 119,021 339,404 335,420
Depreciation and amortization 334,944 316,175 1,016,193 953,309
Real estate taxes 118,031 119,315 349,404 344,950
Repairs and maintenance 23,979 23,632 73,752 73,507
Advertising and promotion 36,583 36,688 109,128 107,979
Home and regional office costs 45,865 32,714 144,892 106,093
General and administrative 8,032 12,172 27,528 35,713
Other 22,083 21,461 75,318 70,505
Total operating expenses 711,252 681,178 2,135,619 2,027,476
OPERATING INCOME BEFORE OTHER ITEMS 705,302 722,843 2,130,955 2,155,786
Interest expense (202,382) (199,469) (599,541) (611,585)
Income and other taxes (6,197) (10,118) (23,309) (26,475)
Income from unconsolidated entities 119,706 134,408 316,691 325,263
Unrealized gains (losses) in fair value of equity instruments 2,154 (5,452) (4,846) 1,212
Gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 10,141   12,822 144,949
CONSOLIDATED NET INCOME 628,724 642,212 1,832,772 1,989,150
Net income (loss) attributable to noncontrolling interests 337 497 (181) 684
Preferred dividends 1,313 1,313 3,939 3,939
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS or UNITHOLDERS 627,074 640,402 1,829,014 1,984,527
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 544,254 556,267 1,588,053 1,723,925
Limited Partners $ 82,820 $ 84,135 $ 240,961 $ 260,602
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 $ 1.80 $ 5.15 $ 5.57
Consolidated Net Income $ 628,724 $ 642,212 $ 1,832,772 $ 1,989,150
Unrealized gain (loss) on derivative hedge agreements 12,907 5,241 15,227 20,355
Net loss reclassified from accumulated other comprehensive loss into earnings 1,087 1,591 3,261 5,929
Currency translation adjustments (6,288) (10,763) (14,656) (35,797)
Changes in available-for-sale securities and other 468 (22) 1,151 (88)
Comprehensive income 636,898 638,259 1,837,755 1,979,549
Comprehensive income attributable to noncontrolling interests 333 318 907 1,063
Comprehensive income attributable to common stockholders or unitholders $ 636,565 $ 637,941 $ 1,836,848 $ 1,978,486