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)
for $6.7 million and $33.5 million, respectively. During the third quarter of 2020, SPARC acquired certain assets and operations of Brooks Brothers and Lucky Brands out of bankruptcy. During the second quarter of 2021, SPARC Group acquired certain assets and operations of Eddie Bauer. During the first quarter of 2022, SPARC Group acquired certain assets and operations of Reebok and entered into a long-term strategic partnership agreement with ABG to become the core licensee and operating partner for Reebok in the United States. At December 31, 2022, our noncontrolling equity method interest in SPARC Group was 50.0%. The tables below represent combined summary financial information, after intercompany eliminations, of our other platform investments. December 31, December 31, 2022 2021 Total assets ................................................. $ 12,897,980 $ 9,083,440 Totalliabilities................................................ 10,521,772 6,916,595 Noncontrollinginterests........................................ 362,652 281,024
For the Year Ended December 31,
2022
2021
2020
Totalrevenues...................................... $ 14,895,379
$ 14,454,661
$ 3,450,029
Operating income before other items . . . . . . . . . . . . . . . . . . . . Consolidatednetincome.............................. Our share of net income .............................. Amortization of excess investment . . . . . . . . . . . . . . . . . . . . . .
972,360 738,255 238,412
1,550,358 1,400,632 402,658
397,845 323,887 46,984
(6,659)
(7,546)
(7,442)
International Investments We conduct our international operations primarily through joint venture arrangements and account for the majority of these international joint venture investments using the equity method of accounting. European Investments At December 31, 2022, we owned 63,924,148 shares, or approximately 22.4%, of Klépierre, which had a quoted market price of $23.04 per share. The tables below represent summary financial information with respect to our investment in Klépierre. This information is based on applicable Euro:USD exchange rates and after our conversion of Klépierre’s results to GAAP.
December 31,
December 31,
2022
2021
Total assets ................................................ $ Totalliabilities............................................... Noncontrollinginterests.......................................
16,016,137 10,074,502 1,226,734
$
18,137,100 11,854,151 1,320,001
115
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