Simon Property Group, Inc. Consolidated Statements of Cash Flows (Dollars in thousands)
For the Year Ended December 31,
2022
2021
2020
CASH FLOWS FROM OPERATING ACTIVITIES: Consolidated Net Income ....................................... $ 2,452,385 $ 2,568,707 $ 1,277,324 Adjustments to reconcile consolidated net income to net cash provided by operating activities Depreciationandamortization ................................... 1,292,113 1,325,895 1,354,991 Lossondebtextinguishment .................................... — 51,841 — (Gain) loss on acquisition of controlling interests, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment,net............................................. (5,647) (206,855) 114,960 Gain on disposal, exchange, or revaluation of equity interests, net . . . . . . . (121,177) (178,672) — Unrealized losses in fair value of publicly traded equity instruments, net . . . 61,204 8,095 19,632 Straight-lineleaseloss......................................... 25,234 22,619 19,950 Equity in income of unconsolidated entities . . . . . . . . . . . . . . . . . . . . . . . . . (647,977) (782,837) (219,870) Distributions of income from unconsolidated entities . . . . . . . . . . . . . . . . . . 561,583 436,881 184,733 Changes in assets and liabilities Tenant receivables and accrued revenue, net . . . . . . . . . . . . . . . . . . . . . . . 63,350 265,352 (415,911) Deferredcostsandotherassets.................................. (104,567) (77,592) (28,191)
Accounts payable, accrued expenses, intangibles, deferred revenues andother.................................................. Net cash provided by operating activities ...................... CASH FLOWS FROM INVESTING ACTIVITIES: Acquisitions ................................................. Fundingofloanstorelatedparties................................ Repaymentsofloanstorelatedparties ............................ Capitalexpenditures,net ....................................... Cash impact from the consolidation of properties . . . . . . . . . . . . . . . . . . . . . Netproceedsfromsaleofassets................................. Investments in unconsolidated entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchaseofequityinstruments .................................. Proceeds from sales of equity instruments . . . . . . . . . . . . . . . . . . . . . . . . . . Insurance proceeds for property restoration . . . . . . . . . . . . . . . . . . . . . . . . . Distributions of capital from unconsolidated entities and other . . . . . . . . . . Net cash used in investing activities .......................... CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from sales of common stock and other, net of transaction costs. . Purchase of shares related to stock grant recipients' tax withholdings . . . . . Redemptionoflimitedpartnerunits ............................... Purchaseoftreasurystock...................................... Proceeds from the special purpose acquisition company IPO, net of transactioncosts............................................ Proceeds from (establishment of) trust account for special purpose acquisitioncompany ......................................... Liquidiation of special purpose acquisition company . . . . . . . . . . . . . . . . . . Distributions to noncontrolling interest holders in properties. . . . . . . . . . . . . Contributions from noncontrolling interest holders in properties . . . . . . . . . . Preferred distributions of the Operating Partnership. . . . . . . . . . . . . . . . . . . Distributions to stockholders and preferred dividends . . . . . . . . . . . . . . . . . Distributionstolimitedpartners .................................. Cashpaidtoextinguishdebt .................................... Proceeds from issuance of debt, net of transaction costs. . . . . . . . . . . . . . . Repaymentsofdebt........................................... Net cash used in financing activities .......................... INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ............. CASH AND CASH EQUIVALENTS, beginning of period ...................
190,103 3,766,604 (203,364) (132,857) 82,371 (650,024) (235,792) (66,140) 26,086 472,510 (626,564) 20,988 59,658 —
203,968 3,637,402 (257,080) (15,848) 14,027 (527,935) (56,901) (33,605) 65,504 7,200 243,279 (552,764) 5,595 3,000
19,080
2,326,698
(3,606,694)
(8,236)
—
(484,119)
—
33,418 (191,368) (32,955) 30,000 31,198 250,358 (3,978,398)
(328) (6,788) (1,852)
(328) (2,318) (2,220)
1,556,148
(854)
(16,106) (152,589)
(180,387)
—
—
338,121
—
345,000 (345,000) (27,741) 29,681 (1,915) (2,264,007) (326,550)
(345,000)
— —
—
(5,024) 20,902 (1,915)
(8,271)
220
(1,915)
(2,351,764) (337,021) (50,156) 9,251,217 (3,562,315) (477,677) 1,011,613
(1,443,183) (219,095)
—
—
3,449,403
15,234,860
(3,721,864) (10,076,809) (12,955,275)
(3,052,348)
1,993,940 342,240
87,692 533,936
669,373 CASH AND CASH EQUIVALENTS, end of period ........................ $ 621,628 $ 533,936 $ 1,011,613 The accompanying notes are an integral part of these statements.
89
Powered by FlippingBook