Simon Property Group, Inc. (SPG)

Simon Property Group Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	5,390	5,164	4,905	4,737	4,302
Property Management Fees	133.25	126	116.9	106.48	96.88
Gain (Loss) on Sale of Assets (Rev)	-	-	-	14.94	-
Other Revenue	440.79	368.51	269.37	256.55	203.05
Total Revenue	5,964	5,659	5,291	5,115	4,602
Revenue Growth (YoY	5.39%	6.94%	3.46%	11.13%	-18.84%
Property Expenses	1,043	1,028	1,001	971.06	887.15
Selling, General & Administrative	462	373.48	327.36	329.3	292.85
Depreciation & Amortization	1,265	1,262	1,227	1,263	1,318
Other Operating Expenses	100.25	187.84	152.21	140.52	137.68
Total Operating Expenses	2,871	2,852	2,708	2,704	2,636
Operating Income	3,093	2,807	2,584	2,411	1,967
Interest Expense	-905.8	-854.65	-761.25	-795.71	-784.4
Income (Loss) on Equity Investments	207.32	375.66	647.98	782.84	219.87
EBT Excluding Unusual Items	2,394	2,328	2,470	2,398	1,402
Impairment of Goodwill	-75.82	-3.06	5.65	206.86	-114.96
Gain (Loss) on Sale of Investments	451.17	362.02	121.18	178.67	-
Total Insurance Settlements	-	-	-	2.1	5.2
Other Unusual Items	-17.39	11.89	-61.2	-59.94	-19.63
Pretax Income	2,752	2,699	2,536	2,726	1,273
Income Tax Expense	23.26	81.87	83.51	157.2	-4.64
Earnings From Continuing Operations	2,729	2,617	2,452	2,569	1,277
Net Income to Company	2,729	2,617	2,452	2,569	1,277
Minority Interest in Earnings	-358.13	-333.89	-312.85	-319.08	-164.76
Net Income	2,371	2,283	2,140	2,250	1,113
Preferred Dividends & Other Adjustments	3.34	3.34	3.34	3.34	3.34
Net Income to Common	2,368	2,280	2,136	2,246	1,109
Net Income Growth	3.84%	6.71%	-4.89%	102.20%	-47.06%
Basic Shares Outstanding	326	327	328	329	309
Diluted Shares Outstanding	326	327	328	329	309
Shares Change (YoY)	-0.22%	-0.31%	-0.23%	6.43%	0.26%
EPS (Basic)	7.26	6.98	6.52	6.84	3.59
EPS (Diluted)	7.26	6.98	6.52	6.84	3.59
EPS Growth	4.07%	7.05%	-4.68%	90.42%	-47.28%
Dividend Per Share	8.100	7.450	6.900	5.850	6.000
Dividend Growth	8.72%	7.97%	17.95%	-2.50%	-27.71%
Operating Margin	51.86%	49.60%	48.83%	47.14%	42.73%
Profit Margin	39.70%	40.29%	40.37%	43.92%	24.10%
Free Cash Flow Margin	-	69.46%	71.18%	71.12%	50.56%
EBITDA	4,425	4,106	3,836	3,694	3,270
EBITDA Margin	74.20%	72.57%	72.50%	72.22%	71.06%
D&A For Ebitda	1,332	1,299	1,253	1,283	1,304
EBIT	3,093	2,807	2,584	2,411	1,967
EBIT Margin	51.86%	49.60%	48.83%	47.14%	42.73%
Funds From Operations (FFO)	4,877	4,686	4,481	4,487	3,237
FFO Per Share	-	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	-	12.51	11.95	11.94	9.11
Effective Tax Rate	0.85%	3.03%	3.29%	5.77%	-
Revenue as Reported	5,964	5,659	5,291	5,117	4,608

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