Simon Property Group, Inc. (SPG)

Simon Property Group Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Rental Revenue	5,321	5,164	4,905	4,737	4,302	5,244
Property Management Fees	129.59	126	116.9	106.48	96.88	112.94
Gain (Loss) on Sale of Assets (Rev)	-	-	-	14.94	-	-
Other Revenue	458.73	368.51	269.37	256.55	203.05	314.28
Total Revenue	5,909	5,659	5,291	5,115	4,602	5,671
Revenue Growth (YoY	6.83%	6.94%	3.46%	11.13%	-18.84%	0.46%
Property Expenses	1,027	1,028	1,001	971.06	887.15	1,022
Selling, General & Administrative	398.77	373.48	327.36	329.3	292.85	375.31
Depreciation & Amortization	1,258	1,262	1,227	1,263	1,318	1,341
Other Operating Expenses	175.86	187.84	152.21	140.52	137.68	104.94
Total Operating Expenses	2,860	2,852	2,708	2,704	2,636	2,842
Operating Income	3,049	2,807	2,584	2,411	1,967	2,829
Interest Expense	-903.31	-854.65	-761.25	-795.71	-784.4	-789.35
Income (Loss) on Equity Investments	234.2	375.66	647.98	782.84	219.87	444.35
EBT Excluding Unusual Items	2,380	2,328	2,470	2,398	1,402	2,484
Impairment of Goodwill	13.59	-3.06	5.65	206.86	-114.96	14.88
Gain (Loss) on Sale of Investments	582.16	362.02	121.18	178.67	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-	16.2
Total Insurance Settlements	-	-	-	2.1	5.2	-
Total Legal Settlements	-	-	-	-	-	68
Other Unusual Items	-62.29	11.89	-61.2	-59.94	-19.63	-129.42
Pretax Income	2,914	2,699	2,536	2,726	1,273	2,453
Income Tax Expense	96.79	81.87	83.51	157.2	-4.64	30.05
Earnings From Continuing Operations	2,817	2,617	2,452	2,569	1,277	2,423
Net Income to Company	2,817	2,617	2,452	2,569	1,277	2,423
Minority Interest in Earnings	-365.61	-333.89	-312.85	-319.08	-164.76	-321.6
Net Income	2,451	2,283	2,140	2,250	1,113	2,102
Preferred Dividends & Other Adjustments	3.34	3.34	3.34	3.34	3.34	3.34
Net Income to Common	2,448	2,280	2,136	2,246	1,109	2,098
Net Income Growth	10.94%	6.71%	-4.89%	102.20%	-47.06%	-13.87%
Basic Shares Outstanding	326	327	328	329	309	308
Diluted Shares Outstanding	326	327	328	329	309	308
Shares Change (YoY)	-0.32%	-0.31%	-0.23%	6.43%	0.26%	-0.54%
EPS (Basic)	7.51	6.98	6.52	6.84	3.59	6.81
EPS (Diluted)	7.51	6.98	6.52	6.84	3.59	6.81
EPS Growth	11.38%	7.05%	-4.68%	90.42%	-47.28%	-13.47%
Dividend Per Share	7.900	7.450	6.900	5.850	6.000	8.300
Dividend Growth	7.48%	7.97%	17.95%	-2.50%	-27.71%	5.06%
Operating Margin	51.60%	49.60%	48.83%	47.14%	42.73%	49.88%
Profit Margin	41.43%	40.29%	40.37%	43.92%	24.10%	37.00%
Free Cash Flow Margin	63.73%	69.46%	71.18%	71.12%	50.56%	67.15%
EBITDA	4,353	4,106	3,836	3,694	3,270	4,166
EBITDA Margin	73.67%	72.57%	72.50%	72.22%	71.06%	73.45%
D&A For Ebitda	1,304	1,299	1,253	1,283	1,304	1,337
EBIT	3,049	2,807	2,584	2,411	1,967	2,829
EBIT Margin	51.60%	49.60%	48.83%	47.14%	42.73%	49.88%
Funds From Operations (FFO)	4,870	4,686	4,481	4,487	3,237	4,272
FFO Per Share	12.99	12.51	11.95	11.94	9.11	12.04
Adjusted Funds From Operations (AFFO)	-	4,686	4,481	4,487	3,237	4,272
AFFO Per Share	-	12.51	11.95	11.94	9.11	12.04
Effective Tax Rate	3.32%	3.03%	3.29%	5.77%	-	1.23%
Revenue as Reported	5,909	5,659	5,291	5,117	4,608	5,755

Source: S&P Capital IQ. Real Estate template. Financial Sources.