Simon Property Group, Inc. Consolidated Statements of Operations and Comprehensive Income (Dollars in thousands, except per share amounts)
For the Year Ended December 31,
2022
2021
2020
REVENUE: Leaseincome....................................................... $ 4,905,175 $ 4,736,719 $ 4,302,367 Managementfeesandotherrevenues.................................... 116,904 106,483 96,882 Otherincome ....................................................... 269,368 273,587 208,254 Total revenue ..................................................... 5,291,447 5,116,789 4,607,503 EXPENSES: Propertyoperating ................................................... 464,135 415,720 349,154 Depreciationandamortization .......................................... 1,227,371 1,262,715 1,318,008 Realestatetaxes.................................................... 443,224 458,953 457,142 Repairsandmaintenance.............................................. 93,595 96,391 80,858 Advertisingandpromotion ............................................. 107,793 114,303 98,613 Homeandregionalofficecosts ......................................... 184,592 184,660 171,668 Generalandadministrative............................................. 34,971 30,339 22,572 Other ............................................................. 152,213 140,518 137,679 Total operating expenses ........................................... 2,707,894 2,703,599 2,635,694 OPERATING INCOME BEFORE OTHER ITEMS ............................. 2,583,553 2,413,190 1,971,809 Interestexpense...................................................... (761,253) (795,712) (784,400) Lossonextinguishmentofdebt........................................... - (51,841) — Gain on disposal, exchange, or revaluation of equity interests, net (Notes 3 and 6) . . . 121,177 178,672 — Incomeandothertax(expense)benefit .................................... (83,512) (157,199) 4,637 Incomefromunconsolidatedentities....................................... 647,977 782,837 219,870 Unrealized losses in fair value of publicly traded equity instruments, net . . . . . . . . . . . (61,204) (8,095) (19,632)
Gain (loss) 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....................................................
5,647
206,855 2,568,707 319,076
(114,960) 1,277,324
2,452,385 312,850
164,760
3,337 3,337 NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS ............... $ 2,136,198 $ 2,246,294 $ 1,109,227 BASIC AND DILUTED EARNINGS PER COMMON SHARE: Net income attributable to common stockholders ....................... $ 6.52 $ 6.84 $ 3.59 3,337 Consolidated Net Income .............................................. $ 2,452,385 $ 2,568,707 $ 1,277,324 Unrealized gain (loss) on derivative hedge agreements . . . . . . . . . . . . . . . . . . . . . . . 54,808 51,114 (106,548) Net gain reclassified from accumulated other comprehensive loss into earnings . . . . (1,595) (7,285) (106) Currencytranslationadjustments........................................ (28,119) (38,772) 27,288 Changes in available-for-sale securities and other . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,009) (1,014) 180 Comprehensiveincome ............................................... 2,475,470 2,572,750 1,198,138 Comprehensive income attributable to noncontrolling interests . . . . . . . . . . . . . . . . . 315,622 319,629 155,646 Comprehensive income attributable to common stockholders .............. $ 2,159,848 $ 2,253,121 $ 1,042,492 The accompanying notes are an integral part of these statements.
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