SIMON PROPERTY GROUP INC.

Listed Company

SPGCIK 0001063761NYSELarge AcceleratedReal Estate Investment TrustsIndianaFY ends Dec 31

Period

FY 2025

Revenue

$6.36B

Net Income

$5.36B

Total Assets

$40.61B

Equity

$5.21B

Shares Out

8.0K

Op. Cash Flow

$4.14B

+ 13F Filer

Business

SIMON PROPERTY GROUP INC. operates as a self-administered and self-managed real estate investment trust (REIT) that owns, develops and manages retail and mixed‑use properties. It offers premier shopping, dining, entertainment and mixed‑use destinations, including malls, Premium Outlets and The Mills, and operates retail platform investments and an e‑commerce venture. Its business is organized around property ownership and management, joint ventures, and other platform investments. Simon markets and leases properties primarily through direct retail leasing, joint venture partnerships and third‑party management across the United States and internationally.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Lease income	5,839	5,390	5,164	4,905	4,737
Management fees and other revenues	144	133	126	117	106
Other income	381	441	369	269	274
Total revenue	6,365	5,964	5,659	5,291	5,117
Property operating	581	530	489	464	416
Depreciation and amortization	1,426	1,265	1,262	1,227	1,263
Real estate taxes	451	409	442	443	459
Repairs and maintenance	120	105	97	94	96
Advertising and promotion	156	145	127	108	114
Home and regional office costs	252	223	208	185	185
General and administrative	61	45	39	35	30
Other	142	150	188	152	141
Total operating expenses	3,189	2,871	2,852	2,708	2,704
OPERATING INCOME BEFORE OTHER ITEMS	3,175	3,093	2,807	2,584	2,413
Interest expense	−975	−906	−855	−761	—
(Loss) gain due to disposal, exchange, or revaluation of equity interests, net	−86	451	362	121	179
Income and other tax expense	−36	−23	−82	−84	−157
Income from unconsolidated entities	504	207	376	648	783
Unrealized gains (losses) in fair value of publicly traded equity instruments and derivative instrument, net	−106	−17	12	—	—
Gain (loss) on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net	2,887	−76	−3	6	207
CONSOLIDATED NET INCOME	5,364	2,729	2,617	2,452	2,569
Net income (loss) attributable to noncontrolling interests	737	358	334	313	319
Preferred dividends	3	3	3	3	3
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	4,624	2,368	2,280	2,136	2,246
Net income attributable to common stockholders - basic (in dollars per share)	14.17	7.26	6.98	6.52	6.84
Net income attributable to common stockholders - diluted (in dollars per share)	14.17	7.26	6.98	6.52	6.84
Unrealized (loss) gain on derivative hedge agreements	−31	16	18	55	51
Net loss (gain) reclassified from accumulated other comprehensive loss into earnings	10	−6	−4	−2	−7
Currency translation adjustments	−53	−34	−27	−28	−39
Changes in available-for-sale securities and other	3	−923,000	2	−2	−1
Comprehensive income	5,293	2,705	2,607	2,475	2,573
Comprehensive income attributable to noncontrolling interests	723	354	332	316	320
Comprehensive income attributable to common stockholders	4,569	2,351	2,275	2,160	2,253

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Investment properties, at cost	50,946	40,242	39,285	38,327	37,932
Less - accumulated depreciation	20,702	19,047	17,717	16,564	15,621
Investment properties, at cost, net	30,245	21,195	21,568	21,763	22,311
Cash and cash equivalents	823	1,400	1,169	622	534
Tenant receivables and accrued revenue, net	934	797	826	824	920
Right-of-use assets, net	756	520	484	497	504
Deferred costs and other assets	1,981	1,370	1,118	1,159	1,121
Total assets	40,606	32,406	34,283	33,011	33,777
Mortgages and unsecured indebtedness	28,430	24,264	26,033	24,960	25,321
Accounts payable, accrued expenses, intangibles, and deferred revenues	1,954	1,712	1,693	1,492	1,433
Cash distributions and losses in unconsolidated entities, at equity	1,739	1,680	1,761	1,700	1,573
Dividend payable	3	2	2	2	1
Lease liabilities	757	520	485	498	507
Other liabilities	1,018	626	622	536	541
Total liabilities	33,901	28,806	30,596	29,187	29,377
Commitments and contingencies	—	—	—	—	—
Limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interests	233	185	196	212	548
Series J 83/8% cumulative redeemable preferred stock, 1,000,000 shares authorized, 796,948 issued and outstanding with a liquidation value of $39,847	40	41	41	41	42
Capital in excess of par value	12,347	11,583	11,406	11,233	11,213
Accumulated deficit	−4,608	−6,383	−6,096	−5,927	−5,824
Accumulated other comprehensive loss	−251	−193	−173	−165	−185
Common stock held in treasury, at cost, 17,844,817 and 16,675,701 shares, respectively	−2,320	−2,106	−2,156	−2,044	−1,884
Total stockholders' equity	5,208	2,942	3,023	3,139	3,361
Noncontrolling interests	1,264	473	469	473	492
Total equity	6,472	3,415	3,492	3,612	3,853
Total liabilities and equity	40,606	32,406	34,283	33,011	33,777

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1,554	1,360	1,334	1,292	1,326
Unrealized losses (gains) in fair value of publicly traded equity instruments and derivative instrument, net	106	17	−12	61	8
Straight-line lease (income) loss	−28	802,000	10	25	23
Distributions of income from unconsolidated entities	446	363	459	562	437
Tenant receivables and accrued revenue, net	−60	36	−12	63	265
Deferred costs and other assets	15	−236	24	−105	−78
Accounts payable, accrued expenses, intangibles, deferred revenues and other	45	127	246	190	204
Net cash provided by operating activities	4,137	3,815	3,931	3,767	3,637
Acquisitions	−1,114	−56	−66	−203	−257
Funding of loans to related parties	—	−111	−15	−133	−16
Repayments of loans to related parties	17	82	16	82	14
Capital expenditures, net	−934	−756	−793	−650	−528
Cash impact from the consolidation of properties	105	46	—	21	6
Net proceeds from sale of assets	—	55	—	60	3
Investments in unconsolidated entities	−62	−113	−84	−236	−57
Purchase of short-term investments	—	−600	−1,000	—	—
Proceeds from redemption of short-term investments	—	1,600	—	—	—
Purchase of equity instruments	−49	−241	−32	−66	−34
Proceeds from sale of equity instruments	96	1,184	304	26	66
Insurance proceeds for property restoration	—	5	7	—	7
Distributions of capital from unconsolidated entities and other	341	313	299	473	243
Net cash (used in) provided by investing activities	−1,601	1,408	−1,363	−627	−553
Proceeds from sales of common stock and other, net of transaction costs	−328,000	−328,000	−328,000	−328,000	−328,000
Purchase of shares related to stock grant recipients' tax withholdings	−14	−11	−6	−7	−2
Redemption of limited partner units	−7	−42	−14	−2	−2
Purchase of treasury stock	−227	—	−141	−180	—
Preferred unit redemptions	−5	−8	−3	—	—
Distributions to noncontrolling interest holders in properties	−23	−21	−42	−28	−5
Contributions from noncontrolling interest holders in properties	7	10	10	30	21
Preferred distributions of the Operating Partnership	−1	−2	−2	−2	−2
Preferred dividends and distributions to stockholders	−2,793	−2,645	−2,439	−2,264	−2,352
Distributions to limited partners	−439	−399	−356	−327	−337
Proceeds from issuance of debt, net of transaction costs	3,669	1,096	3,630	3,449	9,251
Repayments of debt	−3,278	−2,969	−2,659	−3,722	−10,077
Net cash used in financing activities	−3,113	−4,992	−2,020	−3,052	−3,562
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	−577	231	547	88	−478

Filings

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Holdings (13F)

Portfolio as of 2016-09-30 · 1 positions

Reported AUM

Holdings

Top sector

Top sectors

Sector	Value	% of portfolio
Uncategorized	$0	0.0%

Top holdings

Issuer	Ticker	Shares	Value	%
0	—	0	$0	0.0%