Simon Property Group, Inc. Simon Property Group, L.P. Notes to Consolidated Financial Statements (Dollars in thousands, except share, per share, unit and per unit amounts and where indicated as in millions or billions)
Accumulated Other Comprehensive Income (Loss) Simon The total accumulated other comprehensive income (loss) related to Simon’s currency translation adjustment was ($199.5) million, ($175.1) million and ($136.2) million as of December 31, 2022, 2021 and 2020, respectively. The reclassifications out of accumulated other comprehensive income (loss) consisted of the following as of December 31: Affected line item where 2022 2021 2020 net income is presented
Gain (loss) on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net Net income attributable to noncontrolling interests
—
Currency translation adjustments . . . . $
$
5,660 $ (1,739)
— —
(712)
219
$
$
4,948
(1,520)
1,595
Accumulated derivative gains, net. . . . $
$
1,625 $
1,845 Interest expense
Net income attributable to noncontrolling interests
(202)
(204)
(232)
1,393
$
$
1,421 $
1,613
The Operating Partnership The total accumulated other comprehensive income (loss) related to the Operating Partnership’s currency translation adjustment was ($228.3) million, ($200.2) million and ($155.8) million as of December 31, 2022, 2021 and 2020, respectively. The reclassifications out of accumulated other comprehensive income (loss) consisted of the following as of December 31: Affected line item where 2022 2021 2020 net income is presented
Gain (loss) on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net
—
Currency translation adjustments . . . . $
$
5,660 $ (1,739)
1,595
Accumulated derivative gains, net. . . . $
$
1,625 $
1,845 Interest expense
Revenue Recognition We, as a lessor, retain substantially all of the risks and benefits of ownership of the investment properties and account for our leases as operating leases. We accrue fixed lease income on a straight-line basis over the terms of the leases when we believe substantially all lease income, including the related straight-line rent receivable, is probable of collection. Substantially all of our retail tenants are also required to pay overage rents based on sales over a stated base amount during the lease year. We recognize this variable lease consideration only when each tenant’s sales exceed the
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