Simon Property Group, Inc. (BMV:SPG)

DFS Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	5,518	5,390	5,164	4,905	4,737	4,302
Property Management Fees	142.33	133.25	126	116.9	106.48	96.88
Gain (Loss) on Sale of Assets (Rev)	-	-	-	-	14.94	-
Other Revenue	373.85	440.79	368.51	269.37	256.55	203.05
Total Revenue	6,034	5,964	5,659	5,291	5,115	4,602
Revenue Growth (YoY	3.34%	5.39%	6.94%	3.46%	11.13%	-18.84%
Property Expenses	1,076	1,043	1,028	1,001	971.06	887.15
Selling, General & Administrative	434.61	412.57	373.48	327.36	329.3	292.85
Depreciation & Amortization	1,315	1,265	1,262	1,227	1,263	1,318
Other Operating Expenses	133.72	149.68	187.84	152.21	140.52	137.68
Total Operating Expenses	2,959	2,871	2,852	2,708	2,704	2,636
Operating Income	3,075	3,093	2,807	2,584	2,411	1,967
Interest Expense	-913.56	-905.8	-854.65	-761.25	-795.71	-784.4
Income (Loss) on Equity Investments	352.68	207.32	375.66	647.98	782.84	219.87
EBT Excluding Unusual Items	2,514	2,394	2,328	2,470	2,398	1,402
Impairment of Goodwill	-93.4	-75.82	-3.06	5.65	206.86	-114.96
Gain (Loss) on Sale of Investments	116.91	451.17	362.02	121.18	178.67	-
Total Insurance Settlements	-	-	-	-	2.1	5.2
Other Unusual Items	-99.83	-17.39	11.89	-61.2	-59.94	-19.63
Pretax Income	2,438	2,752	2,699	2,536	2,726	1,273
Income Tax Expense	-1.83	23.26	81.87	83.51	157.2	-4.64
Earnings From Continuing Operations	2,440	2,729	2,617	2,452	2,569	1,277
Net Income to Company	2,440	2,729	2,617	2,452	2,569	1,277
Minority Interest in Earnings	-324.41	-358.13	-333.89	-312.85	-319.08	-164.76
Net Income	2,116	2,371	2,283	2,140	2,250	1,113
Preferred Dividends & Other Adjustments	3.34	3.34	3.34	3.34	3.34	3.34
Net Income to Common	2,112	2,368	2,280	2,136	2,246	1,109
Net Income Growth	-17.69%	3.84%	6.71%	-4.89%	102.20%	-47.06%
Basic Shares Outstanding	326	326	327	328	329	309
Diluted Shares Outstanding	326	326	327	328	329	309
Shares Change (YoY)	0.02%	-0.22%	-0.31%	-0.23%	6.43%	0.26%
EPS (Basic)	6.47	7.26	6.98	6.52	6.84	3.59
EPS (Diluted)	6.47	7.26	6.98	6.52	6.84	3.59
EPS Growth	-17.73%	4.07%	7.05%	-4.68%	90.42%	-47.28%
Dividend Per Share	8.350	8.100	7.450	6.900	5.850	6.000
Dividend Growth	7.74%	8.72%	7.97%	17.95%	-2.50%	-27.71%
Operating Margin	50.96%	51.86%	49.60%	48.83%	47.14%	42.73%
Profit Margin	35.00%	39.70%	40.29%	40.37%	43.92%	24.10%
EBITDA	4,472	4,424	4,106	3,836	3,694	3,270
EBITDA Margin	74.11%	74.17%	72.57%	72.50%	72.22%	71.06%
D&A For Ebitda	1,397	1,331	1,299	1,253	1,283	1,304
EBIT	3,075	3,093	2,807	2,584	2,411	1,967
EBIT Margin	50.96%	51.86%	49.60%	48.83%	47.14%	42.73%
Funds From Operations (FFO)	4,649	4,877	4,686	4,481	4,487	3,237
FFO Per Share	12.35	12.99	12.51	11.95	11.94	9.11
Adjusted Funds From Operations (AFFO)	-	4,359	4,686	4,481	4,487	3,237
AFFO Per Share	-	11.61	12.51	11.95	11.94	9.11
Effective Tax Rate	-	0.84%	3.03%	3.29%	5.77%	-
Revenue as Reported	6,034	5,964	5,659	5,291	5,117	4,608

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.