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)
COMBINED STATEMENTS OF OPERATIONS
December 31,
2022
2021
2020
REVENUE: Leaseincome............................................. Other income ............................................. Total revenue ........................................ OPERATING EXPENSES: Propertyoperating......................................... Depreciation and amortization ............................... Realestatetaxes.......................................... Repairsandmaintenance................................... Advertisingandpromotion................................... Other.................................................... Total operating expenses .............................. Operating Income Before Other Items ....................... Interest expense .......................................... Gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities, net ................................ Net Income .............................................. Third-Party Investors’ Share of Net Income .................. Our Share of Net Income .................................. Amortization of Excess Investment ......................... Our Share of Gain on Sale or Disposal of Assets and Interests in Other Income in the Consolidated Financial Statements . . . Our Share of Gain on Sale or Disposal of, or Recovery on, Assets and Interests in Unconsolidated Entities, net .........
$ 2,894,611 341,923 3,236,534 605,018 666,762 246,707 81,522 74,776 205,405 1,880,190 1,356,344
$ 2,797,221 $ 2,544,134
319,956 3,117,177
300,634 2,844,768
575,584 686,790 263,325 79,300 72,441 200,899
519,979 692,424 262,351 68,722 67,434 163,710
1,878,339 1,238,838 (605,591)
1,774,620 1,070,148 (616,332)
(599,245)
50,336
34,814
—
$ 807,435 $ 423,816 $ 383,619
$ 668,061 $ 453,816 $ 333,304 $ 226,364 $ 334,757 $ 227,452
(60,109)
(64,974)
(82,097)
—
(14,941)
—
(2,532)
(541)
—
Income from Unconsolidated Entities ....................... $ 254,301 $ 145,355 Our share of income from unconsolidated entities in the above table, aggregated with our share of results from our investments in Jamestown, Klépierre and TRG, as well as our other platform investments, is presented in income from unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income. Unless otherwise noted, our share of the gain on sale or disposal of, or recovery on, assets and interests in unconsolidated entities, net is reflected within gain (loss) on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net in the accompanying consolidated statements of operations and comprehensive income. $ 320,978
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