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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUE:        
Lease income $ 1,013,510 $ 1,298,567 $ 2,275,742 $ 2,578,623
Management fees and other revenues 21,035 28,248 50,201 55,792
Other income 27,496 70,371 89,458 215,604
Total revenue 1,062,041 1,397,186 2,415,401 2,850,019
EXPENSES:        
Property operating 70,620 106,119 176,243 217,669
Depreciation and amortization 324,140 352,606 652,402 681,249
Real estate taxes 117,221 115,914 234,764 231,372
Repairs and maintenance 14,080 21,850 38,511 49,772
Advertising and promotion 12,689 35,420 46,216 72,545
Home and regional office costs 36,090 46,467 90,460 99,027
General and administrative 7,296 10,359 14,190 19,496
Other 29,037 27,820 56,878 53,236
Total operating expenses 611,173 716,555 1,309,664 1,424,366
OPERATING INCOME BEFORE OTHER ITEMS 450,868 680,631 1,105,737 1,425,653
Interest expense (197,061) (198,425) (384,688) (397,160)
Income and other tax benefit (expense) 62 (7,010) 5,845 (17,112)
Income from unconsolidated entities 44,322 106,542 94,787 196,986
Unrealized gains (losses) in fair value of equity instruments 202 (12,317) (18,846) (7,000)
(Loss) gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net (7,845) 2,681 (6,883) 2,681
CONSOLIDATED NET INCOME 290,548 572,102 795,952 1,204,048
Net (loss) income attributable to noncontrolling interests 35,501 75,944 102,465 158,580
Preferred dividends 834 834 1,669 1,669
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 254,213 $ 495,324 $ 691,818 $ 1,043,799
BASIC AND DILUTED EARNINGS PER COMMON SHARE OR UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 0.83 $ 1.60 $ 2.26 $ 3.38
Consolidated Net Income $ 290,548 $ 572,102 $ 795,952 $ 1,204,048
Unrealized (loss) gain on derivative hedging activities (24,332) (7,022) (1,859) 2,320
Net (gain) loss reclassified from accumulated other comprehensive loss into earnings (478) 1,086 (958) 2,174
Currency translation adjustments (15,904) (3,623) (39,508) (8,368)
Changes in available-for-sale securities and other (552) 539 272 683
Comprehensive income 249,282 563,082 753,899 1,200,857
Comprehensive income attributable to noncontrolling interests 30,060 74,704 96,935 158,116
Comprehensive income attributable to common stockholders or unitholders 219,222 488,378 656,964 1,042,741
Simon Property Group, L.P.        
REVENUE:        
Lease income 1,013,510 1,298,567 2,275,742 2,578,623
Management fees and other revenues 21,035 28,248 50,201 55,792
Other income 27,496 70,371 89,458 215,604
Total revenue 1,062,041 1,397,186 2,415,401 2,850,019
EXPENSES:        
Property operating 70,620 106,119 176,243 217,669
Depreciation and amortization 324,140 352,606 652,402 681,249
Real estate taxes 117,221 115,914 234,764 231,372
Repairs and maintenance 14,080 21,850 38,511 49,772
Advertising and promotion 12,689 35,420 46,216 72,545
Home and regional office costs 36,090 46,467 90,460 99,027
General and administrative 7,296 10,359 14,190 19,496
Other 29,037 27,820 56,878 53,236
Total operating expenses 611,173 716,555 1,309,664 1,424,366
OPERATING INCOME BEFORE OTHER ITEMS 450,868 680,631 1,105,737 1,425,653
Interest expense (197,061) (198,425) (384,688) (397,160)
Income and other tax benefit (expense) 62 (7,010) 5,845 (17,112)
Income from unconsolidated entities 44,322 106,542 94,787 196,986
Unrealized gains (losses) in fair value of equity instruments 202 (12,317) (18,846) (7,000)
(Loss) gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net (7,845) 2,681 (6,883) 2,681
CONSOLIDATED NET INCOME 290,548 572,102 795,952 1,204,048
Net (loss) income attributable to noncontrolling interests (3,628) 400 (3,799) (518)
Preferred dividends 1,313 1,313 2,626 2,626
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS 292,863 570,389 797,125 1,201,940
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 254,213 495,324 691,818 1,043,799
Limited Partners $ 38,650 $ 75,065 $ 105,307 $ 158,141
BASIC AND DILUTED EARNINGS PER COMMON SHARE OR UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 0.83 $ 1.60 $ 2.26 $ 3.38
Consolidated Net Income $ 290,548 $ 572,102 $ 795,952 $ 1,204,048
Unrealized (loss) gain on derivative hedging activities (24,332) (7,022) (1,859) 2,320
Net (gain) loss reclassified from accumulated other comprehensive loss into earnings (478) 1,086 (958) 2,174
Currency translation adjustments (15,904) (3,623) (39,508) (8,368)
Changes in available-for-sale securities and other (552) 539 272 683
Comprehensive income 249,282 563,082 753,899 1,200,857
Comprehensive income attributable to noncontrolling interests 293 427 729 575
Comprehensive income attributable to common stockholders or unitholders $ 248,989 $ 562,655 $ 753,170 $ 1,200,282