FINANCIAL HIGHLIGHTS
2022
YEAR ENDED DECEMBER 31
2021
OPERATING DATA (in millions) Consolidated Revenue Funds from Operations (FFO)
$ 5,291 $ 4,481
$
5,117
$ 4,487
PER SHARE DATA Net Income Per Diluted Share
$
6.52
$ $ $
6.84 11.94 5.85
$ 11.95
FFO Per Diluted Share
$
6.90
Dividends Declared Per Share
$ 117.48
Common Stock Price at December 31
$ 159.77
STOCK AND LIMITED PARTNERSHIP UNITS OUTSTANDING Shares of Common Stock (in thousands)
326,954 47,303 374,257 $ 44,041 $ 75,566
328,620
Limited Partnership Units (in thousands)
47,248
Total Common Stock and Limited Partnership Units
375,868
Total Equity Capitalization (in millions) Total Market Capitalization (1) (in millions)
$ 60,133 $ 92,277
OTHER DATA (2) Total Number of Properties in the U.S. U.S. Square Footage (in thousands) Total Number of International Properties International Square Footage (in thousands)
196
199
172,623
175,301
34
33
11,487
11,190
(1) Includes our share of consolidated and joint venture debt. (2) We also owned an 80% interest in The Taubman Realty Group (TRG), which owns 24 regional, super-regional and outlet malls in the U.S. and Asia.
Consolidated Revenue $ in billions
Beneficial Interest of Combined NOI $ in billions
FFO Per Diluted Share
Dividends Declared Per Share
20 21 22 18 19
20 21 22 18 19
20 21 22 18 19
20 21 22 18 19
This annual report contains a number of forward-looking statements. For more information, refer to the Company’s fourth quarter and full-year 2022 results and SEC filings on our website at investors.simon.com . This report also references non-GAAP financial measures including funds from operations, or FFO, and net operating income, or NOI. These financial measures are commonly used in the real estate industry and we believe they provide useful information to investors when used in conjunction with GAAP measures. For a definition of FFO and reconciliations of each of the non-GAAP measures used in this report to the most directly comparable GAAP measure, refer to the Company’s fourth quarter and full-year 2022 results, SEC filings and Non-GAAP Reconciliations under Financials / Quarterly Reports at investors.simon.com.
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V
2022 ANNUAL REPORT
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