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Unaudited Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUE:    
Lease income $ 1,302,671 $ 1,248,185
Management fees and other revenues 29,455 28,949
Other income 110,464 73,715
Total revenue 1,442,590 1,350,849
EXPENSES:    
Property operating 126,114 111,748
Depreciation and amortization 307,369 307,059
Real estate taxes 109,210 111,159
Repairs and maintenance 25,728 22,174
Advertising and promotion 28,081 24,159
Home and regional office costs 60,723 56,820
General and administrative 9,132 9,107
Other 41,053 45,900
Total operating expenses 707,410 688,126
OPERATING INCOME BEFORE OTHER ITEMS 735,180 662,723
Interest expense (230,623) (199,429)
Gain on disposal, exchange, or revaluation of equity interests, net (Notes 3 and 6) 414,769  
Income and other tax (expense) benefit (47,603) 13,453
(Loss) income from unconsolidated entities (34,342) 21,900
Unrealized (losses) gains in fair value of publicly traded equity instruments and derivative instrument, net (7,192) 20,608
Gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 10,966  
CONSOLIDATED NET INCOME 841,155 519,255
Net income attributable to noncontrolling interests 108,619 66,594
Preferred dividends 834 834
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 731,702 $ 451,827
BASIC AND DILUTED EARNINGS PER COMMON SHARE:    
Net income attributable to common stockholders - basic (in dollars per share) $ 2.25 $ 1.38
Net income attributable to common stockholders - diluted (in dollars per share) $ 2.25 $ 1.38
Consolidated Net Income $ 841,155 $ 519,255
Unrealized gain on derivative hedge agreements 27,744 5,672
Net gain reclassified from accumulated other comprehensive loss into earnings (1,611) (501)
Currency translation adjustments (17,429) (751)
Changes in available-for-sale securities and other (626) 194
Comprehensive income 849,233 523,869
Comprehensive income attributable to noncontrolling interests 109,705 67,189
Comprehensive income attributable to common stockholders 739,528 456,680
Simon Property Group, L.P.    
REVENUE:    
Lease income 1,302,671 1,248,185
Management fees and other revenues 29,455 28,949
Other income 110,464 73,715
Total revenue 1,442,590 1,350,849
EXPENSES:    
Property operating 126,114 111,748
Depreciation and amortization 307,369 307,059
Real estate taxes 109,210 111,159
Repairs and maintenance 25,728 22,174
Advertising and promotion 28,081 24,159
Home and regional office costs 60,723 56,820
General and administrative 9,132 9,107
Other 41,053 45,900
Total operating expenses 707,410 688,126
OPERATING INCOME BEFORE OTHER ITEMS 735,180 662,723
Interest expense (230,623) (199,429)
Gain on disposal, exchange, or revaluation of equity interests, net (Notes 3 and 6) 414,769  
Income and other tax (expense) benefit (47,603) 13,453
(Loss) income from unconsolidated entities (34,342) 21,900
Unrealized (losses) gains in fair value of publicly traded equity instruments and derivative instrument, net (7,192) 20,608
Gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net 10,966  
CONSOLIDATED NET INCOME 841,155 519,255
Net income attributable to noncontrolling interests (1,470) 762
Preferred dividends 1,266 1,313
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS 841,359 517,180
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:    
General Partner 731,702 451,827
Limited Partners $ 109,657 $ 65,353
BASIC AND DILUTED EARNINGS PER COMMON SHARE:    
Net income attributable to common stockholders - basic (in dollars per share) $ 2.25 $ 1.38
Net income attributable to common stockholders - diluted (in dollars per share) $ 2.25 $ 1.38
Consolidated Net Income $ 841,155 $ 519,255
Unrealized gain on derivative hedge agreements 27,744 5,672
Net gain reclassified from accumulated other comprehensive loss into earnings (1,611) (501)
Currency translation adjustments (17,429) (751)
Changes in available-for-sale securities and other (626) 194
Comprehensive income 849,233 523,869
Comprehensive income attributable to noncontrolling interests 145 190
Comprehensive income attributable to common stockholders $ 849,088 $ 523,679