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)
COMBINED BALANCE SHEETS
December 31, December 31, 2024 2023
Assets: Investmentproperties,atcost........................................... Less - accumulated depreciation ........................................ Cashandcashequivalents............................................. Tenantreceivablesandaccruedrevenue,net.............................. Right-of-use assets, net................................................ Deferredcostsandotherassets......................................... Total assets ..................................................... Liabilities and Partners’ Deficit: Mortgages .......................................................... Accounts payable, accrued expenses, intangibles, and deferred revenue ....... Leaseliabilities....................................................... Other liabilities ....................................................... Total liabilities ................................................... Preferred units ....................................................... Partners’ deficit ...................................................... Total liabilities and partners’ deficit ................................ Our Share of: Partners’ deficit ...................................................... Add: Excess Investment ...............................................
$ 18,875,241 $ 19,315,578
8,944,188 9,931,053 1,270,594
8,874,745 10,440,833 1,372,377
533,676 113,014 531,059
505,933 126,539 537,943
$ 12,379,396 $ 12,983,625
$ 13,666,090 $ 14,282,839
1,037,015
1,032,217
104,120 363,488
116,535 368,582
15,170,713
15,800,173
67,450
67,450
(2,858,767)
(2,883,998)
$ 12,379,396 $ 12,983,625
$ (1,180,960) $ (1,258,809)
1,077,204
1,173,852
Our net Investment in unconsolidated entities, at equity. . . . . . . . . . . . . . . . . . . . . . (84,957) “Excess Investment” represents the unamortized difference of our investment over our share of the equity in the underlying net assets of the joint ventures or other investments acquired and has been determined to relate to the fair value of the investment properties, intangible assets, including goodwill, and debt premiums and discounts. We amortize excess investment over the life of the related depreciable components of assets acquired, typically no greater than 40 years, the terms of the applicable leases, the estimated useful lives of the finite lived intangibles, and the applicable debt maturity, respectively. The amortization is included in the reported amount of income from unconsolidated entities. $ (103,756) $
120
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