Simon Property Group, L.P. Consolidated Statements of Operations and Comprehensive Income (Dollars in thousands, except per unit amounts)
For the Year Ended December 31,
2024
2023
2022
REVENUE: Leaseincome ................................................... 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 (loss) income attributable to noncontrolling interests . . . . . . . . . . . . . . . . . . . . . Preferredunitrequirements............................................ NET INCOME ATTRIBUTABLE TO UNITHOLDERS ........................ NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO: GeneralPartner................................................. LimitedPartners ................................................ Net income attributable to unitholders .............................
$ 5,389,760 $ 5,164,335 $ 4,905,175
133,250 440,788 5,963,798 529,753 1,265,340 408,641 105,020 144,551 223,277 44,743 149,677 2,871,002 3,092,796 (905,797)
125,995 368,506
116,904 269,368
5,658,836
5,291,447
489,346 1,262,107 441,783
464,135 1,227,371 443,224
97,257 127,346 207,618 38,513 187,844
93,595 107,793 184,592 34,971 152,213
2,851,814 2,807,022
2,707,894 2,583,553
(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
(1,641) 4,897
(1,336) 5,237
2,738 5,252
$ 2,725,765 $ 2,613,117 $ 2,444,395
$ 2,367,559 $ 2,279,789 $ 2,136,198
358,206
333,328
308,197
$ 2,725,765 $ 2,613,117 $ 2,444,395
BASIC AND DILUTED EARNINGS PER UNIT: Net income attributable to unitholders ............................. $
7.26 $
6.98 $
6.52
Consolidated Net Income ............................................ $ 2,729,021 $ 2,617,018 $ 2,452,385 Unrealized gain on derivative hedge agreements. . . . . . . . . . . . . . . . . . . . . . . . . . 16,491 18,350 54,808 Net gain reclassified from accumulated other comprehensive loss into earnings . . (5,623) (4,084) (1,595) Currencytranslationadjustments...................................... (34,282) (26,513) (28,119) Changes in available-for-sale securities and other . . . . . . . . . . . . . . . . . . . . . . . . . (923) 2,254 (2,009) Comprehensiveincome ............................................. 2,704,684 2,607,025 2,475,470 Comprehensive income loss attributable to noncontrolling interests. . . . . . . . . . . . 1,543 610 1,572 Comprehensive income attributable to unitholders .................... $ 2,703,141 $ 2,606,415 $ 2,473,898 The accompanying notes are an integral part of these statements.
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