Simon Property Group, Inc. Consolidated Statements of Operations and Comprehensive Income (Dollars in thousands, except per share amounts)
For the Year Ended December 31,
2024
2023
2022
REVENUE: Leaseincome..................................................... $ 5,389,760
$ 5,164,335 $ 4,905,175
133,250 440,788
125,995 368,506
116,904 269,368
Managementfeesandotherrevenues.................................. Otherincome ..................................................... Total revenue ................................................... EXPENSES: Propertyoperating ................................................. Depreciationandamortization ........................................ Realestatetaxes.................................................. Repairsandmaintenance............................................ Advertisingandpromotion ........................................... Homeandregionalofficecosts ....................................... Generalandadministrative........................................... Other ........................................................... Total operating expenses ......................................... OPERATING INCOME BEFORE OTHER ITEMS ........................... Interestexpense.................................................... Gain due to disposal, exchange, or revaluation of equity interests, net (Notes 3 and6)........................................................... Incomeandothertaxexpense ......................................... Incomefromunconsolidatedentities..................................... Unrealized (losses) gains in fair value of publicly traded equity instruments and derivativeinstrument,net............................................ (Loss) gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net . . . . . . . . CONSOLIDATED NET INCOME ....................................... Net income attributable to noncontrolling interests . . . . . . . . . . . . . . . . . . . . . . . . . . Preferreddividends..................................................
5,963,798
5,658,836
5,291,447
529,753
489,346
464,135
1,265,340
1,262,107
1,227,371
408,641 105,020 144,551 223,277 44,743 149,677
441,783 97,257 127,346 207,618 38,513 187,844
443,224 93,595 107,793 184,592 34,971 152,213
2,871,002 3,092,796
2,851,814 2,807,022
2,707,894 2,583,553
(905,797)
(854,648)
(761,253)
451,172 (23,262) 207,322
362,019 (81,874) 375,663
121,177 (83,512) 647,977
(17,392)
11,892
(61,204)
(75,818)
(3,056)
5,647
2,729,021
2,617,018
2,452,385
358,125
333,892
312,850
3,337
3,337
3,337
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS ............. $ 2,367,559 BASIC AND DILUTED EARNINGS PER COMMON SHARE: Net income attributable to common stockholders ..................... $ 7.26
$ 2,279,789 $ 2,136,198
$ 6.98 $ 6.52
Consolidated Net Income ............................................ $ 2,729,021
$ 2,617,018 $ 2,452,385
16,491
18,350
54,808
Unrealized gain on derivative hedge agreements. . . . . . . . . . . . . . . . . . . . . . . . . . Net gain reclassified from accumulated other comprehensive loss into earnings . . Currencytranslationadjustments...................................... Changes in available-for-sale securities and other . . . . . . . . . . . . . . . . . . . . . . . . . Comprehensiveincome ............................................. Comprehensive income attributable to noncontrolling interests . . . . . . . . . . . . . . .
(5,623) (34,282)
(4,084) (26,513)
(1,595) (28,119) (2,009)
(923)
2,254
2,704,684
2,607,025
2,475,470
354,028
331,814
315,622
Comprehensive income attributable to common stockholders ............ $ 2,350,656
$ 2,275,211 $ 2,159,848
The accompanying notes are an integral part of these statements.
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