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Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2024
Significant Accounting Policies  
Schedule of fair value measurements, recurring and nonrecurring

Description

March 31, 2024

Quoted Prices in Active Markets (Level 1)

Significant Other Observable Inputs (Level 2)

Significant Other Unobservable Inputs (Level 3)

Assets:

Short-term investments

$

1,300,000

$

-

$

1,300,000

$

-

Deferred costs and other assets

127,472

93,068

34,404

-

Total

$

1,427,472

$

93,068

$

1,334,404

$

-

Liabilities:

Other Liabilities

$

31,218

$

-

$

409

$

30,809

Description

December 31, 2023

Quoted Prices in Active Markets (Level 1)

Significant Other Observable Inputs (Level 2)

Significant Other Unobservable Inputs (Level 3)

Assets:

Short-term investments

$

1,000,000

$

-

$

1,000,000

$

-

Deferred costs and other assets

113,779

97,696

16,083

Total

1,113,779

97,696

1,016,083

-

Liabilities:

Other Liabilities

$

38,146

$

-

$

9,774

$

28,372

Schedule of carrying amount of noncontrolling interests

    

As of

    

As of

March 31, 

December 31, 

    

2024

    

2023

Limited partners’ interests in the Operating Partnership

$

459,316

$

447,494

Nonredeemable noncontrolling interests in properties, net

 

19,175

 

21,321

Total noncontrolling interests reflected in equity

$

478,491

$

468,815

Schedule of reclassifications out of accumulated other comprehensive income (loss)

For the Three Months Ended

March 31, 

Affected line item where

    

2024

    

2023

    

net income is presented

Accumulated derivative gains, net

$

1,611

 

$

501

 

Interest expense

 

(210)

 

 

(63)

 

Net income attributable to noncontrolling interests

$

1,401

$

438

Schedule of Interest Rate Derivatives

As of March 31, 2024, we had the following outstanding interest rate derivatives related to managing our interest rate risk:

Number of

Notional

Interest Rate Derivative

    

Instruments

    

Amount

Interest Rate Swaps

 

5

$

805.0 million

Interest Rate Caps

1

$

38.0 million

Interest Rate Swaps

 

2

193.0 million

Interest Rate Caps

2

80.0 million

As of December 31, 2023, we had the following outstanding interest rate derivatives related to managing our interest rate risk:

Number of

Notional

Interest Rate Derivative

    

Instruments

    

Amount

 

Interest Rate Swaps

 

5

$

805.0 million

Interest Rate Caps

1

$

38.0 million

Interest Rate Swaps

1

128.0 million

Interest Rate Caps

 

3

129.0 million

Schedule of Euro:USD forward contracts

We had the following Euro:USD forward contracts designated as net investment hedges at March 31, 2024 and December 31, 2023 (in millions):

    

    

Asset (Liability) Value as of

March 31, 

    

December 31, 

Notional Value

Maturity Date

2024

2023

50.0

January 17, 2024

(0.4)

30.0

March 15, 2024

1.0

51.0

March 15, 2024

(3.6)

20.0

April 12, 2024

0.5

(0.1)

25.0

July 17, 2024

1.4

0.7

37.0

December 13, 2024

0.2

(0.9)

37.0

December 13, 2024

0.2

(0.9)

50.0

March 17, 2025

0.3

(1.1)

27.0

March 17, 2025

0.4

54.0

March 17, 2025

0.8

50.0

April 17, 2025

0.9

Schedule of key inputs into the option model for the exchange option within the exchangeable bonds

March 31, 2024

December 31, 2023

Klépierre stock price

24.00

24.68

Implied volatility

18.57%

17.88%

EUR risk-free rate

2.83%

2.11%

Klépierre expected dividend yield

7.04%

6.85%

Expected term

2.63 years

2.88 years

Credit Spread

0.68%

0.84%

Simon Property Group, L.P.  
Significant Accounting Policies  
Schedule of reclassifications out of accumulated other comprehensive income (loss)

    

For the Three Months Ended

March 31, 

Affected line item where

    

2024

    

2023

    

net income is presented

Accumulated derivative gains, net

$

1,611

 

$

501

 

Interest expense