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 STATEMENTS OF OPERATIONS
December 31,
2024
2023
2022
REVENUE: Leaseincome........................................... $ 3,060,755
$ 2,984,455 $ 2,894,611
385,004
464,058
341,923
Other income ........................................... Total revenue ...................................... OPERATING EXPENSES: Propertyoperating....................................... Depreciation and amortization ............................. Realestatetaxes........................................ Repairsandmaintenance................................. Advertisingandpromotion................................. Other.................................................. Total operating expenses ............................ Operating Income Before Other Items ..................... Interest expense ........................................ (Loss) gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net ..................................................
3,445,759
3,448,513
3,236,534
660,004 636,218 231,843 74,172 88,693 299,645
638,638 656,089 237,809 77,093 83,279 236,955
605,018 666,762 246,707 81,522 74,776 205,405
1,990,575 1,455,184
1,929,863 1,518,650
1,880,190 1,356,344
(711,402)
(685,193)
(599,245)
(36,536)
20,529
50,336
Net Income ............................................ $ 707,246 Third-Party Investors’ Share of Net Income ................ $ 360,792 Our Share of Net Income ................................ $ 346,454
$ 853,986 $ 807,435 $ 436,408 $ 423,816 $ 417,578 $ 383,619
Amortization of Excess Investment ....................... Our Share of Loss on Sale or Disposal of Assets and Interests in Other Income in the Consolidated Financial Statements ........................................... Our Share of Loss (gain) on Acquisition of Controlling Interest, Sale or Disposal of, or Recovery on, Assets and Interests in Unconsolidated Entities and Impairment, net ..................................................
(58,163)
(59,707)
(60,109)
36,470
—
—
18,236
(454)
(2,532)
Income from Unconsolidated Entities ..................... $ 342,997 $ 357,417 $ 320,978 Our share of income from unconsolidated entities in the above table, aggregated with our share of results from our investments in Klépierre and TRG, as well as our other platform investments, is presented in income from unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income. Unless otherwise noted, our share of the gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities, net is reflected within (loss) gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net in the accompanying consolidated statements of operations and comprehensive income.
122
Powered by FlippingBook