Per Share and Per Unit Data

3 Months Ended

Mar. 31, 2021

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 March 31,
	2021		2020
Net Income attributable to Common Stockholders — Basic and Diluted	$	445,860	$	437,605
Weighted Average Shares Outstanding — Basic and Diluted		328,514,497		306,504,084

For the three months ended March 31, 2021, 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 months ended March 31, 2021 and 2020. 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 March 30, 2021 Simon’s Board of Directors declared a quarterly cash dividend for the first quarter of 2021 of $1.30 per share.  At March 31, 2021, we accrued the first quarter dividend of $489.4 million, recorded in dividends payable in the accompanying consolidated balance sheet, which was paid in cash on April 23, 2021.

The Operating Partnership

	For the Three Months Ended March 31,
	2021		2020
Net Income attributable to Unitholders — Basic and Diluted	$	510,085	$	504,263
Weighted Average Units Outstanding — Basic and Diluted		375,836,653		353,191,960

For the three months ended March 31, 2021, potentially dilutive securities include LTIP units. No securities had a material dilutive effect for the three months ended March 31, 2021 and 2020. We accrue distributions when they are declared.  On March 30, 2021 Simon’s Board of Directors declared a quarterly cash distribution for the first quarter of 2021 of $1.30 per unit.  At March 31, 2021, we accrued the first quarter distribution of $489.4 million, recorded in distribution payable in the accompanying consolidated balance sheet, which was paid in cash on April 23, 2021.