The following schedule reconciles total FFO and real estate FFO to consolidated net income and, for Simon, diluted net income per share to diluted FFO per share and real estate FFO per share. 2024 2023 2022 (in thousands) Consolidated Net Income .............................................. $ 2,729,021 $ 2,617,018 $ 2,452,385 Adjustments to Arrive at FFO: Depreciation and amortization from consolidated properties . . . . . . . . . . . . . . . . . . 1,250,440 1,250,550 1,214,441 Our share of depreciation and amortization from unconsolidated entities, including Klépierre, TRG and other corporate investments. . . . . . . . . . . . . . . . . . 848,188 841,862 845,784
Loss (gain) on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net . . . . . . . Net loss (income) attributable to noncontrolling interest holders in properties . . . . . Noncontrolling interests portion of depreciation and amortization, gain on consolidation of properties, and gain on disposal of properties . . . . . . . . . . . . . . Preferreddistributionsanddividends.................................... FFO of the Operating Partnership ....................................... FFOallocabletolimitedpartners.......................................... Dilutive FFO allocable to common stockholders ........................... FFO of the Operating Partnership ....................................... Gain due to disposal, exchange, or revaluation of equity interests, net of tax . . . . . Otherplatforminvestments,netoftax................................... Unrealized losses (gains) in fair value of publicly traded equity instruments and derivativeinstrument,net........................................... Real Estate FFO ......................................................
75,818
3,056 1,336
(5,647) (2,738)
1,641
(23,367) (4,897)
(22,719) (5,237)
(18,234) (5,252)
$ 4,876,844
$ 4,685,866 $ 4,480,739
640,886
597,727
564,946
$ 4,235,958
$ 4,088,139 $ 3,915,793
4,876,844 (386,417)
4,685,866 (271,009)
4,480,739 (88,314) (181,262)
88,902
6,166
17,392
(11,892)
61,204
$ 4,596,721
$ 4,409,131 $ 4,272,367
Diluted net income per share to diluted FFO per share reconciliation: Diluted net income per share ........................................... $ Depreciation and amortization from consolidated properties and our share of depreciation and amortization from unconsolidated entities, including Klépierre, TRG and other corporate investments, net of noncontrolling interests portion ofdepreciationandamortization...................................... Loss (gain) on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net . . . . . . . Diluted FFO per share ................................................. $ Gain due to disposal, exchange, or revaluation of equity interests, net of tax . . . . . Otherplatforminvestments,netoftax................................... Unrealized losses (gains) in fair value of publicly traded equity instruments and derivativeinstrument,net........................................... Real Estate FFO per share ............................................. $ Basic and Diluted weighted average shares outstanding . . . . . . . . . . . . . . . . . . . . . . . Weighted average limited partnership units outstanding . . . . . . . . . . . . . . . . . . . . . . . . Basic and Diluted weighted average shares and units outstanding. . . . . . . . . . . . . . . .
7.26
$
6.98 $
6.52
5.53
5.52
5.44
0.20
0.01
(0.01)
12.99
$
12.51 $ (0.72) $
11.95
(1.03)
(0.24) (0.48)
0.23
0.02
0.05
(0.03)
0.16
12.24
$
11.78 $
11.39
326,097 49,338 375,435
326,808 47,782 374,590
327,817 47,295 375,112
77
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