Simon Property Group, Inc. Simon Property Group, L.P. Notes to Consolidated Financial Statements (Dollars in thousands, except share, per share, unit and per unit amounts and where indicated as in millions or billions)
assets, with the exception of our investment in Klépierre and other unconsolidated entities and certain other assets, are attributable to our real estate segment. As of December 31, 2025 and 2024, approximately 6.7% and 6.8%, respectively, of our consolidated long-lived assets were located outside the United States and as of December 31, 2025, 2024, and 2023, approximately 5.3%, 4.4%, and 4.2%, respectively, of our consolidated total revenues were derived from assets located outside the United States. Substantially all of our capital expenditures reported in the consolidated statements of cash flows relate to our segment operations. The following table reconciles our reportable segment to net income:
For the Year Ended December 31, 2025 All other & Real estate eliminations, segment net Consolidated
For the period ended December 31, 2025: Income: LeaseIncome................................................ $ 5,854,900 $
(15,740) $ 5,839,160
Managementfeesandotherrevenues............................. OtherIncome................................................ Total...................................................... Expenses: PropertyOperating............................................ Realestatetaxes............................................. Repairsandmaintenance....................................... Advertisingandpromotion ...................................... Other ...................................................... Total ..................................................... NOI of consolidated entities ..................................... Other Income: Incomefromunconsolidatedentities .............................. Gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment,net............................................. Other Expenses: Depreciationandamortization ................................... Homeandregionalofficecosts .................................. Generalandadministrative...................................... Interestexpense.............................................. Incomeandothertaxexpense................................... Loss due to disposal, exchange, or revaluation of equity interests, net . . . . Unrealized losses in fair value of publicly traded equity instruments and derivativeinstrument,net ..................................... Other expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Consolidated Net Income .......................................
—
144,426 219,194 347,880
144,426 380,919
161,725
6,016,625
6,364,505
765,610 456,455 117,685 159,702 79,715
(184,635)
580,975 451,128 119,915 155,826 141,946
(5,327) 2,230 (3,876)
62,231
1,579,167
(129,377)
1,449,790
$ 4,437,458 $
477,257 $ 4,914,715
504,088
2,887,460
1,426,423 251,748
60,888 974,835 35,788 86,119
106,082
260
$ 5,364,120
139
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