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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUE:        
Lease income $ 993,831 $ 1,308,908 $ 3,269,572 $ 3,887,532
Management fees and other revenues 21,345 27,976 71,545 83,768
Other income 45,498 79,670 134,957 295,274
Total revenue 1,060,674 1,416,554 3,476,074 4,266,574
EXPENSES:        
Property operating 91,236 121,735 267,479 339,404
Depreciation and amortization 333,755 334,944 986,157 1,016,193
Real estate taxes 112,311 118,031 347,075 349,404
Repairs and maintenance 18,971 23,979 57,482 73,752
Advertising and promotion 14,751 36,583 60,967 109,128
Home and regional office costs 39,960 45,865 130,420 144,892
General and administrative 3,016 8,032 17,206 27,528
Other 42,650 22,083 99,527 75,318
Total operating expenses 656,650 711,252 1,966,313 2,135,619
OPERATING INCOME BEFORE OTHER ITEMS 404,024 705,302 1,509,761 2,130,955
Interest expense (201,858) (202,382) (586,545) (599,541)
Income and other tax (expense) benefit (2,779) (6,197) 3,065 (23,309)
Income from unconsolidated entities 61,823 119,706 156,610 316,691
Unrealized (losses) gains in fair value of equity instruments (1,279) 2,154 (20,125) (4,846)
(Loss) gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net (91,285) 10,141 (98,168) 12,822
CONSOLIDATED NET INCOME 168,646 628,724 964,598 1,832,772
Net (loss) income attributable to noncontrolling interests 21,886 83,636 124,351 242,216
Preferred dividends 834 834 2,503 2,503
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS OR UNITHOLDERS $ 145,926 $ 544,254 $ 837,744 $ 1,588,053
BASIC AND DILUTED EARNINGS PER COMMON SHARE OR UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 0.48 $ 1.77 $ 2.74 $ 5.15
Consolidated Net Income $ 168,646 $ 628,724 $ 964,598 $ 1,832,772
Unrealized (loss) gain on derivative hedge agreements (49,175) 12,907 (51,034) 15,227
Net (gain) loss reclassified from accumulated other comprehensive loss into earnings (477) 1,087 (1,435) 3,261
Currency translation adjustments 20,525 (6,288) (18,983) (14,656)
Changes in available-for-sale securities and other (27) 468 245 1,151
Comprehensive income 139,492 636,898 893,391 1,837,755
Comprehensive income attributable to noncontrolling interests 18,074 84,662 115,008 242,778
Comprehensive income attributable to common stockholders or unitholders 121,418 552,236 778,383 1,594,977
Simon Property Group, L.P.        
REVENUE:        
Lease income 993,831 1,308,908 3,269,572 3,887,532
Management fees and other revenues 21,345 27,976 71,545 83,768
Other income 45,498 79,670 134,957 295,274
Total revenue 1,060,674 1,416,554 3,476,074 4,266,574
EXPENSES:        
Property operating 91,236 121,735 267,479 339,404
Depreciation and amortization 333,755 334,944 986,157 1,016,193
Real estate taxes 112,311 118,031 347,075 349,404
Repairs and maintenance 18,971 23,979 57,482 73,752
Advertising and promotion 14,751 36,583 60,967 109,128
Home and regional office costs 39,960 45,865 130,420 144,892
General and administrative 3,016 8,032 17,206 27,528
Other 42,650 22,083 99,527 75,318
Total operating expenses 656,650 711,252 1,966,313 2,135,619
OPERATING INCOME BEFORE OTHER ITEMS 404,024 705,302 1,509,761 2,130,955
Interest expense (201,858) (202,382) (586,545) (599,541)
Income and other tax (expense) benefit (2,779) (6,197) 3,065 (23,309)
Income from unconsolidated entities 61,823 119,706 156,610 316,691
Unrealized (losses) gains in fair value of equity instruments (1,279) 2,154 (20,125) (4,846)
(Loss) gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net (91,285) 10,141 (98,168) 12,822
CONSOLIDATED NET INCOME 168,646 628,724 964,598 1,832,772
Net (loss) income attributable to noncontrolling interests (753) 337 (4,551) (181)
Preferred dividends 1,313 1,313 3,939 3,939
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS OR UNITHOLDERS 168,086 627,074 965,210 1,829,014
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 145,928 544,254 837,744 1,588,053
Limited Partners $ 22,158 $ 82,820 $ 127,466 $ 240,961
BASIC AND DILUTED EARNINGS PER COMMON SHARE OR UNIT:        
Net income attributable to common stockholders or unitholders (in dollars per share or unit) $ 0.48 $ 1.77 $ 2.74 $ 5.15
Consolidated Net Income $ 168,646 $ 628,724 $ 964,598 $ 1,832,772
Unrealized (loss) gain on derivative hedge agreements (49,175) 12,907 (51,034) 15,227
Net (gain) loss reclassified from accumulated other comprehensive loss into earnings (477) 1,087 (1,435) 3,261
Currency translation adjustments 20,525 (6,288) (18,983) (14,656)
Changes in available-for-sale securities and other (27) 468 245 1,151
Comprehensive income 139,492 636,898 893,391 1,837,755
Comprehensive income attributable to noncontrolling interests (246) 333 483 907
Comprehensive income attributable to common stockholders or unitholders $ 139,738 $ 636,565 $ 892,908 $ 1,836,848