FINANCIAL HIGHLIGHTS
YEAR ENDED DECEMBER 31
2023
2022
OPERATING DATA (IN MILLIONS) Consolidated Revenue
$ 5,659 $ 4,686
$ 5,291 $ 4,481
Funds from Operations (FFO)
PER SHARE DATA Net Income Per Diluted Share
$ 6.98 $ 12.51 $ 7.45 $ 142.64
$ 6.52 $ 11.95 $ 6.90 $ 117.48
FFO Per Diluted Share Dividends Per Share
Common Stock Price at December 31
STOCK AND LIMITED PARTNERSHIP UNITS OUTSTANDING Shares of Common Stock (in thousands)
325,920
326,954
48,914
Limited Partnership Units (in thousands)
47,303
374,834
Total Common Stock and Limited Partnership Units
374,257
$ 53,537 $ 89,973
Total Equity Capitalization (in millions) Total Market Capitalization (1) (in millions)
$ 44,041 $ 75,566
OTHER DATA (2) Total Number of Properties in the U.S. U.S. Square Footage (in thousands) Total Number of International Properties International Square Footage (in thousands)
195
196
171,770
172,623
35
34
11,715
11,487
(1) Including our share of consolidated and joint venture debt. (2) We also owned an 84% interest in The Taubman Realty Group (TRG) which owns 24 regional, super-regional, and outlet malls in the U.S. and Asia.
Consolidated Revenue $ in billion
Beneficial Interest of Combined NOI $ in billion
FFO Per Diluted Share
Dividends Declared Per Share
23 22 20 21 19
23 22 20 21 19
23 22 20 21 19
19 20 21 22 23
This annual report contains a number of forward-looking statements. For more information, refer to the Company’s fourth quarter and full-year 2023 results and SEC filings on our website at investors.simon.com . This report also references non-GAAP financial measures including funds from operations, or FFO, and net operating income, or NOI. These financial measures are commonly used in the real estate industry and we believe they provide useful information to investors when used in conjunction with GAAP measures. For a definition of FFO and reconciliations of each of the non-GAAP measures used in this report to the most directly comparable GAAP measure, refer to the Company’s fourth quarter and full-year 2023 results and SEC filings under Financials / Quarterly Reports at investors.simon.com .
Scan the QR code for Simon’s 2022 Sustainability Report.
For more information, visit simon.com .
2023 ANNUAL REPORT
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