Simon Property Group, Inc. Consolidated Statements of Operations and Comprehensive Income (Dollars in thousands, except per share amounts)
For the Year Ended December 31,
2023
2022
2021
REVENUE: Leaseincome..................................................... $ 5,164,335
$ 4,905,175 $ 4,736,719
125,995 368,506
116,904 269,368
106,483 273,587
Managementfeesandotherrevenues.................................. Otherincome ..................................................... Total revenue ................................................... EXPENSES: Propertyoperating ................................................. Depreciationandamortization ........................................ Realestatetaxes.................................................. Repairsandmaintenance............................................ Advertisingandpromotion ........................................... Homeandregionalofficecosts ....................................... Generalandadministrative........................................... Other ........................................................... Total operating expenses ......................................... OPERATING INCOME BEFORE OTHER ITEMS ........................... Interestexpense.................................................... Lossonextinguishmentofdebt......................................... Gain on disposal, exchange, or revaluation of equity interests, net (Notes3and6) ................................................... Incomeandothertaxexpense ......................................... Incomefromunconsolidatedentities..................................... Unrealized gains (losses) 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..................................................
5,658,836
5,291,447
5,116,789
489,346
464,135
415,720
1,262,107
1,227,371
1,262,715
441,783 97,257 127,346 207,618 38,513 187,844
443,224 93,595 107,793 184,592 34,971 152,213
458,953 96,391 114,303 184,660 30,339 140,518
2,851,814 2,807,022
2,707,894 2,583,553
2,703,599 2,413,190 (795,712) (51,841) 178,672 (157,199)
(854,648)
(761,253)
-
-
362,019 (81,874) 375,663
121,177 (83,512) 647,977
782,837
11,892
(61,204)
(8,095)
(3,056)
5,647
206,855
2,617,018
2,452,385
2,568,707
333,892
312,850
319,076
3,337
3,337
3,337
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS ............. $ 2,279,789 BASIC AND DILUTED EARNINGS PER COMMON SHARE: Net income attributable to common stockholders ..................... $ 6.98
$ 2,136,198 $ 2,246,294
$ 6.52 $ 6.84
Consolidated Net Income ............................................ $ 2,617,018
$ 2,452,385 $ 2,568,707
18,350
54,808
51,114
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 . . . . . . . . . . . . . . .
(4,084) (26,513)
(1,595) (28,119) (2,009)
(7,285) (38,772) (1,014)
2,254
2,607,025
2,475,470
2,572,750
331,814
315,622
319,629
Comprehensive income attributable to common stockholders ............ $ 2,275,211
$ 2,159,848 $ 2,253,121
The accompanying notes are an integral part of these statements.
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