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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE:        
Lease income $ 1,194,700 $ 1,158,825 $ 2,402,566 $ 2,303,883
Management fees and other revenues 28,811 26,061 56,398 51,358
Other income 56,331 69,260 116,799 138,856
Total revenue 1,279,842 1,254,146 2,575,763 2,494,097
EXPENSES:        
Property operating 112,408 96,073 216,071 182,692
Depreciation and amortization 298,273 315,732 608,436 631,470
Real estate taxes 111,989 114,695 223,680 230,706
Repairs and maintenance 20,050 19,036 42,354 40,391
Advertising and promotion 20,064 19,565 45,327 49,050
Home and regional office costs 47,516 47,699 99,713 83,698
General and administrative 9,360 7,254 17,194 13,830
Other 33,421 29,369 75,836 52,926
Total operating expenses 653,081 649,423 1,328,611 1,284,763
OPERATING INCOME BEFORE OTHER ITEMS 626,761 604,723 1,247,152 1,209,334
Interest expense (187,316) (200,419) (372,473) (402,435)
Loss on extinguishment of debt       (2,959)
Income and other tax expense (24,346) (47,003) (22,912) (41,105)
Income from unconsolidated entities 190,073 348,545 271,257 363,614
Unrealized (losses) gains in fair value of equity instruments (17,817) 23 (48,850) (3,177)
(Loss) gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net (17,875)   (16,384) 93,057
CONSOLIDATED NET INCOME 569,480 705,869 1,057,790 1,216,329
Net income (loss) attributable to noncontrolling interests 71,903 87,778 132,747 151,543
Preferred dividends 834 834 1,669 1,669
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 496,743 $ 617,257 $ 923,374 $ 1,063,117
BASIC AND DILUTED EARNINGS PER COMMON SHARE:        
Net income attributable to common stockholders - basic (in dollars per share) $ 1.51 $ 1.88 $ 2.81 $ 3.24
Net income attributable to common stockholders - diluted (in dollars per share) $ 1.51 $ 1.88 $ 2.81 $ 3.24
Consolidated Net Income $ 569,480 $ 705,869 $ 1,057,790 $ 1,216,329
Unrealized gain on derivative hedge agreements 28,024 1,239 44,858 37,086
Net gain reclassified from accumulated other comprehensive loss into earnings (401) (475) (789) (6,618)
Currency translation adjustments (24,644) (5,886) (23,339) (29,769)
Changes in available-for-sale securities and other (552) 82 (1,073) (234)
Comprehensive income 571,907 700,829 1,077,447 1,216,794
Comprehensive income attributable to noncontrolling interests 72,130 87,178 135,112 151,640
Comprehensive income attributable to common stockholders 499,777 613,651 942,335 1,065,154
Simon Property Group, L.P.        
REVENUE:        
Lease income 1,194,700 1,158,825 2,402,566 2,303,883
Management fees and other revenues 28,811 26,061 56,398 51,358
Other income 56,331 69,260 116,799 138,856
Total revenue 1,279,842 1,254,146 2,575,763 2,494,097
EXPENSES:        
Property operating 112,408 96,073 216,071 182,692
Depreciation and amortization 298,273 315,732 608,436 631,470
Real estate taxes 111,989 114,695 223,680 230,706
Repairs and maintenance 20,050 19,036 42,354 40,391
Advertising and promotion 20,064 19,565 45,327 49,050
Home and regional office costs 47,516 47,699 99,713 83,698
General and administrative 9,360 7,254 17,194 13,830
Other 33,421 29,369 75,836 52,926
Total operating expenses 653,081 649,423 1,328,611 1,284,763
OPERATING INCOME BEFORE OTHER ITEMS 626,761 604,723 1,247,152 1,209,334
Interest expense (187,316) (200,419) (372,473) (402,435)
Loss on extinguishment of debt       (2,959)
Income and other tax expense (24,346) (47,003) (22,912) (41,105)
Income from unconsolidated entities 190,073 348,545 271,257 363,614
Unrealized (losses) gains in fair value of equity instruments (17,817) 23 (48,850) (3,177)
(Loss) gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net (17,875)   (16,384) 93,057
CONSOLIDATED NET INCOME 569,480 705,869 1,057,790 1,216,329
Net income (loss) attributable to noncontrolling interests (122) (1,531) (1,118) (2,469)
Preferred dividends 1,313 1,313 2,626 2,626
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS 568,289 706,087 1,056,282 1,216,172
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 496,744 617,257 923,374 1,063,117
Limited Partners $ 71,545 $ 88,830 $ 132,908 $ 153,055
BASIC AND DILUTED EARNINGS PER COMMON SHARE:        
Net income attributable to common stockholders - basic (in dollars per share) $ 1.51 $ 1.88 $ 2.81 $ 3.24
Net income attributable to common stockholders - diluted (in dollars per share) $ 1.51 $ 1.88 $ 2.81 $ 3.24
Consolidated Net Income $ 569,480 $ 705,869 $ 1,057,790 $ 1,216,329
Unrealized gain on derivative hedge agreements 28,024 1,239 44,858 37,086
Net gain reclassified from accumulated other comprehensive loss into earnings (401) (475) (789) (6,618)
Currency translation adjustments (24,644) (5,886) (23,339) (29,769)
Changes in available-for-sale securities and other (552) 82 (1,073) (234)
Comprehensive income 571,907 700,829 1,077,447 1,216,794
Comprehensive income attributable to noncontrolling interests (258) (510) 15 (551)
Comprehensive income attributable to common stockholders $ 572,165 $ 701,339 $ 1,077,432 $ 1,217,345