SIMON PROPERTY GROUP INC (SPG) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Minimum rent							3,358.5	3,142.3
Tenant reimbursements								1,445.6
Other							2,076.7	678.1
Total revenues [+]	5,291.4	5,116.8	4,607.5	5,755.2	5,645.3	5,527.3	5,435.2	5,266.1
Tenant reimbursements								1,445.6
Lease / rental				5,243.8	5,158.4	5,109.1	3,358.5	3,142.3
Other income	269.4	273.6	208.3	398.5	370.6	297.0	276.5	325.6
Revenue growth [+]	3.4%	11.1%	-19.9%	1.9%	2.1%	1.7%	3.2%	8.1%
Minimum rent							6.9%	6.1%
Tenant reimbursements								6.1%
Cost of goods sold [+]	1,001.0	971.1	887.2	1,021.6	1,008.0	980.1	971.1	960.2
Maintenance and operations costs	93.6	96.4	80.9	100.5	99.6	96.9	99.7	101.4
Real estate taxes and insurance	443.2	459.0	457.1	468.0	457.7	440.0	439.0	432.8
Real estate or leased property costs	464.1	415.7	349.2	453.1	450.6	443.2	432.4	426.0
Gross profit	4,290.5	4,145.7	3,720.3	4,733.5	4,637.3	4,547.3	4,464.1	4,305.9
Gross margin	81.1%	81.0%	80.7%	82.2%	82.1%	82.3%	82.1%	81.8%
Selling, general and administrative [+]	142.8	144.6	121.2	185.2	197.8	202.8	207.9	195.2
Sales and marketing	107.8	114.3	98.6	150.3	151.2	150.9	142.8	134.9
General and administrative	35.0	30.3	22.6	34.9	46.5	52.0	65.1	60.3
Equity in earnings	648.0	782.8	219.9	444.3	475.3	400.3	353.3	284.8
Other operating expenses	336.8	325.2	309.3	295.1	230.8	266.6	282.7	264.3
EBITDA [+]	4,523.6	4,521.9	3,546.7	4,751.3	4,751.3	4,560.0	4,402.1	4,192.9
EBITDA growth	0.0%	27.5%	-25.4%	0.0%	4.2%	3.6%	5.0%	7.6%
EBITDA margin	85.5%	88.4%	77.0%	82.6%	84.2%	82.5%	81.0%	79.6%
Depreciation and amortization	1,292.1	1,325.9	1,355.0	1,394.2	1,349.8	1,357.4	1,327.9	1,239.2
EBIT [+]	3,231.5	3,196.0	2,191.7	3,357.1	3,401.5	3,202.6	3,074.2	2,953.7
EBIT growth	1.1%	45.8%	-34.7%	-1.3%	6.2%	4.2%	4.1%	13.1%
EBIT margin	61.1%	62.5%	47.6%	58.3%	60.3%	57.9%	56.6%	56.1%
Interest expense	761.3	795.7	784.4	789.4	815.9	809.4	857.6	923.7
Interest expense	761.3	795.7	784.4	789.4	815.9	809.4	857.6	923.7
Other income (expense), net [+]	-17.9	168.4	-130.0	-144.6	236.7	-148.3	-81.9	109.4
Gain (loss) on debt retirement		-51.8		-116.3		-128.6	-136.8	-121.0
Pre-tax income	2,452.4	2,568.7	1,277.3	2,423.2	2,822.3	2,244.9	2,134.7	2,139.4
Income taxes	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Minority interest	312.9	319.1	164.8	321.6	382.3	296.9	295.8	311.7
Net income	2,136.2	2,246.3	1,109.2	2,098.2	2,436.7	1,944.6	1,835.6	1,824.4
Net margin	40.4%	43.9%	24.1%	36.5%	43.2%	35.2%	33.8%	34.6%

Basic EPS [+]	$6.52	$6.84	$3.59	$6.81	$7.87	$6.24	$5.87	$5.88
Growth	-4.7%	90.3%	-47.3%	-13.4%	26.1%	6.3%	-0.2%	36.7%
Diluted EPS [+]	$6.52	$6.84	$3.59	$6.81	$7.87	$6.24	$5.87	$5.88
Growth	-4.7%	90.3%	-47.3%	-13.4%	26.1%	6.3%	-0.2%	36.7%

Dividends per share [+]	$6.90	$5.85	$6.00	$8.30	$7.90	$7.15	$6.50	$6.05
Growth	17.9%	-2.5%	-27.7%	5.1%	10.5%	10.0%	7.4%	17.2%

Shares outstanding (basic) [+]	327.8	328.6	308.7	308.0	309.6	311.5	312.7	310.1
Growth	-0.2%	6.4%	0.3%	-0.5%	-0.6%	-0.4%	0.8%	-0.2%
Shares outstanding (diluted) [+]	327.8	328.6	308.7	308.0	309.6	311.5	312.7	310.1
Growth	-0.2%	6.4%	0.3%	-0.5%	-0.6%	-0.4%	0.8%	-0.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.