Per Share and Per Unit Data

6 Months Ended

Jun. 30, 2020

Per Share and Per Unit Data

Per Share and Per Unit Data

5. Per Share and Per Unit Data

We determine basic earnings per share and basic earnings per unit based on the weighted average number of shares of common stock or units, as applicable, outstanding during the period and we consider any participating securities for purposes of applying the two-class method. We determine diluted earnings per share and diluted earnings per unit based on the weighted average number of shares of common stock or units, as applicable, outstanding combined with the incremental weighted average number of shares or units, as applicable, that would have been outstanding assuming all potentially dilutive securities were converted into shares of common stock or units, as applicable, at the earliest date possible. The following tables set forth the components of basic and diluted earnings per share and basic and diluted earnings per unit.

Simon

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2020		2019		2020		2019
Net Income attributable to Common Stockholders — Basic and Diluted	$	254,213	$	495,324	$	691,818	$	1,043,799
Weighted Average Shares Outstanding — Basic and Diluted		305,882,326		308,708,798		306,193,205		308,842,682

For the three and six months ended June 30, 2020, potentially dilutive securities include units that are exchangeable for common stock and long-term incentive performance units, or LTIP units, granted under our long-term incentive performance programs that are convertible into units and exchangeable for common stock. No securities had a material dilutive effect for the three or six months ended June 30, 2020 and 2019. We have not adjusted net income attributable to common stockholders and weighted average shares outstanding for income allocable to limited partners or units, respectively, as doing so would have no dilutive impact. We accrue dividends when they are declared.  On June 29, 2020, Simon’s Board of Directors declared a quarterly cash dividend for the second quarter of 2020 of $1.30 per share.  At June 30, 2020, we accrued the second quarter dividend of $458.2 million, recorded in dividends payable in the accompanying consolidated balance sheet, which was paid in cash on July 24, 2020.

The Operating Partnership

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2020		2019		2020		2019
Net Income attributable to Unitholders — Basic and Diluted	$	292,863	$	570,389	$	797,125	$	1,201,940
Weighted Average Units Outstanding — Basic and Diluted		352,410,392		355,491,396		352,801,176		355,634,031

For the three and six months ended June 30, 2020, potentially dilutive securities include LTIP units. No securities had a material dilutive effect for the three or six months ended June 30, 2020 and 2019. We accrue distributions when they are declared.  On June 29, 2020, Simon’s Board of Directors declared a quarterly cash distribution for the second quarter of 2020 of $1.30 per unit.  At June 30, 2020, we accrued the second quarter distribution of $458.2 million, recorded in distributions payable in the accompanying consolidated balance sheet, which was paid in cash on July 24, 2020.