2023 Q4 Form 10-K Financial Statement

#000155837024001532 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $1.527B $5.659B
YoY Change 9.11% 6.94%
Cost Of Revenue $255.5M $1.028B
YoY Change -4.08% 2.74%
Gross Profit $1.272B $4.630B
YoY Change 12.21% 7.92%
Gross Profit Margin 83.27% 81.83%
Selling, General & Admin $104.0M $373.5M
YoY Change 20.22% 14.09%
% of Gross Profit 8.18% 8.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $320.3M $1.262B
YoY Change -4.78% -2.32%
% of Gross Profit 25.18% 27.26%
Operating Expenses $479.8M $1.823B
YoY Change 6.79% 6.82%
Operating Profit $792.1M $2.807B
YoY Change 15.78% 8.65%
Interest Expense $102.1M -$105.1M
YoY Change -24.96% -113.8%
% of Operating Profit 12.89% -3.74%
Other Income/Expense, Net -$41.62M -$81.87M
YoY Change -20.48% -1.96%
Pretax Income $859.5M $2.617B
YoY Change 11.23% 6.71%
Income Tax
% Of Pretax Income
Net Earnings $747.5M $2.280B
YoY Change -3.27% -7.04%
Net Earnings / Revenue 48.94% 40.29%
Basic Earnings Per Share $2.29 $6.98
Diluted Earnings Per Share $2.29 $6.98
COMMON SHARES
Basic Shares Outstanding 325.9M 326.8M
Diluted Shares Outstanding 325.9M 326.8M

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.169B $1.169B
YoY Change 88.05% 88.05%
Cash & Equivalents $1.169B $1.169B
Short-Term Investments
Other Short-Term Assets $593.3M
YoY Change -10.43%
Inventory
Prepaid Expenses
Receivables $826.1M $826.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.995B $1.995B
YoY Change 38.05% -5.33%
LONG-TERM ASSETS
Property, Plant & Equipment $22.05B $22.05B
YoY Change -0.93% -0.93%
Goodwill $20.10M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $9.118B $9.118B
YoY Change 11.93% 7.17%
Other Assets $1.118B $1.118B
YoY Change -3.59% 1045.75%
Total Long-Term Assets $32.29B $32.29B
YoY Change 2.29% 4.48%
TOTAL ASSETS
Total Short-Term Assets $1.995B $1.995B
Total Long-Term Assets $32.29B $32.29B
Total Assets $34.28B $34.28B
YoY Change 3.85% 3.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.693B $1.693B
YoY Change 13.52% 13.52%
Accrued Expenses $484.9M $484.9M
YoY Change -2.63% -2.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.941B $3.941B
YoY Change 6.76% 6.76%
LONG-TERM LIABILITIES
Long-Term Debt $26.03B $26.03B
YoY Change 4.3% 4.3%
Other Long-Term Liabilities $621.6M $621.6M
YoY Change 16.03% 16.03%
Total Long-Term Liabilities $26.66B $26.66B
YoY Change 4.55% 4.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.941B $3.941B
Total Long-Term Liabilities $26.66B $26.66B
Total Liabilities $31.26B $31.26B
YoY Change 7.1% 4.65%
SHAREHOLDERS EQUITY
Retained Earnings -$6.096B
YoY Change 2.84%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.023B $3.023B
YoY Change
Total Liabilities & Shareholders Equity $34.28B $34.28B
YoY Change 3.85% 3.85%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $747.5M $2.280B
YoY Change -3.27% -7.04%
Depreciation, Depletion And Amortization $320.3M $1.262B
YoY Change -4.78% -2.32%
Cash From Operating Activities $1.037B $3.931B
YoY Change 11.22% 4.36%
INVESTING ACTIVITIES
Capital Expenditures $178.3M $793.3M
YoY Change -3.44% 22.04%
Acquisitions
YoY Change
Other Investing Activities -$692.3M -$569.9M
YoY Change 789.41% -2529.23%
Cash From Investing Activities -$870.6M -$1.363B
YoY Change 231.68% 117.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.659B
YoY Change -28.57%
Cash From Financing Activities 233.8M -2.020B
YoY Change -135.99% -33.81%
NET CHANGE
Cash From Operating Activities 1.037B 3.931B
Cash From Investing Activities -870.6M -1.363B
Cash From Financing Activities 233.8M -2.020B
Net Change In Cash 400.0M 547.4M
YoY Change 1889.06% 524.19%
FREE CASH FLOW
Cash From Operating Activities $1.037B $3.931B
Capital Expenditures $178.3M $793.3M
Free Cash Flow $858.5M $3.138B
YoY Change 14.84% 0.67%

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ProfitLoss
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CY2022 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
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CY2023 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
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CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2023 spg Changes In Available For Sale Securities And Other
ChangesInAvailableForSaleSecuritiesAndOther
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CY2022 spg Changes In Available For Sale Securities And Other
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CY2021 spg Changes In Available For Sale Securities And Other
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CY2023 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2022 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2021 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2023 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2022 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2021 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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ProfitLoss
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CY2022 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2022 spg Depreciation And Amortization Cash Flows
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CY2021 spg Depreciation And Amortization Cash Flows
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CY2021 us-gaap Gains Losses On Extinguishment Of Debt
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CY2023 spg Acquisition Of Controlling Interest Sale Or Disposal Of Or Recovery On Assets And Interests In Unconsolidated Entities Gain Or Loss And Impairment Net
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CY2022 spg Acquisition Of Controlling Interest Sale Or Disposal Of Or Recovery On Assets And Interests In Unconsolidated Entities Gain Or Loss And Impairment Net
AcquisitionOfControllingInterestSaleOrDisposalOfOrRecoveryOnAssetsAndInterestsInUnconsolidatedEntitiesGainOrLossAndImpairmentNet
5647000
CY2021 spg Acquisition Of Controlling Interest Sale Or Disposal Of Or Recovery On Assets And Interests In Unconsolidated Entities Gain Or Loss And Impairment Net
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CY2023 spg Gain Loss On Disposal Exchange Or Evaluation Of Equity Interests
GainLossOnDisposalExchangeOrEvaluationOfEquityInterests
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CY2022 spg Gain Loss On Disposal Exchange Or Evaluation Of Equity Interests
GainLossOnDisposalExchangeOrEvaluationOfEquityInterests
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CY2021 spg Gain Loss On Disposal Exchange Or Evaluation Of Equity Interests
GainLossOnDisposalExchangeOrEvaluationOfEquityInterests
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CY2023 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
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CY2022 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
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CY2021 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
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CY2023 us-gaap Straight Line Rent
StraightLineRent
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CY2022 us-gaap Straight Line Rent
StraightLineRent
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CY2021 us-gaap Straight Line Rent
StraightLineRent
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CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2023 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
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CY2022 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
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CY2021 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
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CY2023 us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
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CY2022 us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
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CY2021 us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2023 spg Increase Decrease In Accounts Payable Accrued Expenses Intangibles Deferred Revenues And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedExpensesIntangiblesDeferredRevenuesAndOtherLiabilities
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CY2022 spg Increase Decrease In Accounts Payable Accrued Expenses Intangibles Deferred Revenues And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedExpensesIntangiblesDeferredRevenuesAndOtherLiabilities
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CY2021 spg Increase Decrease In Accounts Payable Accrued Expenses Intangibles Deferred Revenues And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedExpensesIntangiblesDeferredRevenuesAndOtherLiabilities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
PaymentsToAcquireRealEstateAndRealEstateJointVentures
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CY2022 us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
PaymentsToAcquireRealEstateAndRealEstateJointVentures
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CY2021 us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
PaymentsToAcquireRealEstateAndRealEstateJointVentures
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CY2023 us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
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CY2022 us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
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CY2021 us-gaap Origination Of Notes Receivable From Related Parties
OriginationOfNotesReceivableFromRelatedParties
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CY2023 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
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CY2022 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
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CY2021 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
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CY2023 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2022 spg Cash From Acquisitions And Cash Impact Of Property Consolidation And Deconsolidation
CashFromAcquisitionsAndCashImpactOfPropertyConsolidationAndDeconsolidation
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CY2021 spg Cash From Acquisitions And Cash Impact Of Property Consolidation And Deconsolidation
CashFromAcquisitionsAndCashImpactOfPropertyConsolidationAndDeconsolidation
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CY2023 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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CY2022 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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CY2021 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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PaymentsOfDebtExtinguishmentCosts
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CY2023 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
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CY2022 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
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CY2021 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
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CY2023 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
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CY2022 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
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CY2021 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
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CY2023 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
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CY2023 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
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CY2022 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
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CY2021 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
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CY2023 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
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CY2022 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
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CY2021 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
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CY2023 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
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CY2021 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
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CY2023 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
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CY2022 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
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CY2021 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 spg Proceeds From Issuance Or Sale Of Common Stock Or Units And Other Net Of Issuance Costs
ProceedsFromIssuanceOrSaleOfCommonStockOrUnitsAndOtherNetOfIssuanceCosts
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CY2022 spg Proceeds From Issuance Or Sale Of Common Stock Or Units And Other Net Of Issuance Costs
ProceedsFromIssuanceOrSaleOfCommonStockOrUnitsAndOtherNetOfIssuanceCosts
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CY2021 spg Proceeds From Issuance Or Sale Of Common Stock Or Units And Other Net Of Issuance Costs
ProceedsFromIssuanceOrSaleOfCommonStockOrUnitsAndOtherNetOfIssuanceCosts
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CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2023 spg Redemption Of Limited Partner Units
RedemptionOfLimitedPartnerUnits
13524000
CY2022 spg Redemption Of Limited Partner Units
RedemptionOfLimitedPartnerUnits
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CY2021 spg Redemption Of Limited Partner Units
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CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2023 us-gaap Payments For Repurchase Of Redeemable Convertible Preferred Stock
PaymentsForRepurchaseOfRedeemableConvertiblePreferredStock
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CY2021 spg Proceeds From Issuance Initial Public Offering Net Of Transaction Costs
ProceedsFromIssuanceInitialPublicOfferingNetOfTransactionCosts
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CY2022 spg Payments For Establishment Of Trust For Special Purpose Acquisition
PaymentsForEstablishmentOfTrustForSpecialPurposeAcquisition
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CY2021 spg Payments For Establishment Of Trust For Special Purpose Acquisition
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CY2023 us-gaap Payments To Minority Shareholders
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CY2022 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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CY2021 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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CY2023 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
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CY2022 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
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CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
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CY2023 spg Distributions To Preferred Unit Holders Financing Activities
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CY2022 spg Distributions To Preferred Unit Holders Financing Activities
DistributionsToPreferredUnitHoldersFinancingActivities
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CY2021 spg Distributions To Preferred Unit Holders Financing Activities
DistributionsToPreferredUnitHoldersFinancingActivities
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CY2023 spg Payments Of Ordinary Dividends Common Stock And Preferred Stock
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CY2022 spg Payments Of Ordinary Dividends Common Stock And Preferred Stock
PaymentsOfOrdinaryDividendsCommonStockAndPreferredStock
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CY2021 spg Payments Of Ordinary Dividends Common Stock And Preferred Stock
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CY2022 us-gaap Proceeds From Debt Net Of Issuance Costs
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CY2021 us-gaap Proceeds From Debt Net Of Issuance Costs
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CY2023 us-gaap Repayments Of Long Term Debt
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CY2022 us-gaap Repayments Of Long Term Debt
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CY2021 us-gaap Repayments Of Long Term Debt
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Stock Issued During Period Shares Conversion Of Units
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CY2021 spg Units Issued During Period Value Share Based Compensation
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CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2021 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2021 spg Net Income Loss Attributable To Preferred Interest In Operating Partnership
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CY2021 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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CY2022 us-gaap Stock Issued During Period Shares Share Based Compensation
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CY2022 us-gaap Treasury Stock Shares Acquired
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CY2022 us-gaap Treasury Stock Value Acquired Cost Method
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CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
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CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2022Q4 us-gaap Minority Interest
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CY2022 spg Net Income Loss Attributable To Preferred Interest In Operating Partnership
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CY2022 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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CY2023 spg Limited Partnership Units Issued During Period Value
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CY2023 spg Preferred Stock Premium Amortization
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CY2023 us-gaap Stock Issued During Period Shares Share Based Compensation
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CY2023 spg Redemption Of Limited Partner Units During Period Value
RedemptionOfLimitedPartnerUnitsDuringPeriodValue
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CY2023 spg Adjustments To Additional Paid In Capital Share Based Compensation Amortization
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CY2023 us-gaap Treasury Stock Shares Acquired
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CY2023 us-gaap Treasury Stock Value Acquired Cost Method
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CY2023 spg Issuance Of Unit Equivalents And Stockholders Equity Other
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-16119000
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
18350000
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-26513000
CY2023 spg Changes In Available For Sale Securities And Other
ChangesInAvailableForSaleSecuritiesAndOther
2254000
CY2023 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
4084000
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-9993000
CY2023 spg Distributions Made To Common Stockholders And Limited Partners
DistributionsMadeToCommonStockholdersAndLimitedPartners
2794781000
CY2023 spg Distributions To Other Noncontrolling Interest Holders
DistributionsToOtherNoncontrollingInterestHolders
6361000
CY2023 spg Net Income Loss Attributable To Preferred Interest In Operating Partnership
NetIncomeLossAttributableToPreferredInterestInOperatingPartnership
1900000
CY2023 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-1946000
CY2023 spg Net Income Loss Excluding Amount Attributable To Preferred Interests In Operating Partnership
NetIncomeLossExcludingAmountAttributableToPreferredInterestsInOperatingPartnership
2617064000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3491649000
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">1. Organization</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">Simon Property Group, Inc. is a Delaware corporation that operates as a self-administered and self-managed real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended, or the Internal Revenue Code. REITs will generally not be liable for U.S. federal corporate income taxes as long as they distribute not less than 100% of their REIT taxable income. Simon Property Group, L.P. is our majority-owned Delaware partnership subsidiary that owns all of our real estate properties and other assets. Unless stated otherwise or the context otherwise requires, references to "Simon" mean Simon Property Group, Inc. and references to the "Operating Partnership" mean Simon Property Group, L.P.  References to "we," "us" and "our" mean collectively Simon, the Operating Partnership and those entities/subsidiaries owned or controlled by Simon and/or the Operating Partnership. Unless otherwise indicated, these notes to consolidated financial statements apply to both Simon and the Operating Partnership. According to the Operating Partnership's partnership agreement, the Operating Partnership is required to pay all expenses of Simon.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">We own, develop and manage premier shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets®, and The Mills®.  As of December 31, 2023, we owned or held an interest in 195 income-producing properties in the United States, which consisted of 93 malls, 69 Premium Outlets, 14 Mills, six lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. We also own an 84% noncontrolling interest in the Taubman Realty Group, LLC, or TRG, which has an interest in 24 regional, super-regional, and outlet malls in the U.S. and Asia. Internationally, as of December 31, 2023, we had ownership interests in 35 Premium Outlets and Designer Outlet properties primarily located in Asia, Europe, and Canada. As of December 31, 2023, we also owned a 22.4% equity stake in Klépierre SA, or Klépierre, a publicly traded, Paris-based real estate company which owns, or has an interest in, shopping centers located in 14 countries in Europe. We also own investments in retail operations (J.C. Penney and SPARC Group); an intellectual property and licensing venture (Authentic Brands Group, LLC, or ABG); an e-commerce venture (Rue Gilt Groupe, or RGG), and Jamestown (a global real estate investment and management company), collectively, our other platform investments.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">We generate the majority of our lease income from retail, dining, entertainment and other tenants including consideration received from:</p><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;margin-bottom:6pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:26.65pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:8.5pt;vertical-align:text-top;white-space:nowrap;width:9.35pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;font-style:normal;font-weight:normal;">Fixed minimum lease consideration and fixed common area maintenance (CAM) reimbursements and,</span></td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:26.65pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:8.5pt;vertical-align:text-top;white-space:nowrap;width:9.35pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;font-style:normal;font-weight:normal;">Variable lease consideration primarily based on tenants’ sales, as well as reimbursements for real estate taxes, utilities, marketing, and certain other items.</span></td></tr></table><div style="margin-top:6pt;"></div><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">Revenues of our management company, after intercompany eliminations, consist primarily of management fees that are typically based upon the revenues of the property being managed.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;margin:0pt 0pt 6pt 26.65pt;">We also grow by generating supplemental revenues from the following activities:</p><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;margin-bottom:6pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:26.65pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:8.5pt;vertical-align:text-top;white-space:nowrap;width:9.35pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;font-style:normal;font-weight:normal;">establishing our properties as leading market resource providers for retailers and other businesses and consumer-focused corporate alliances, including payment systems (such as handling fees relating to the sales of bank-issued prepaid cards), national marketing alliances, static and digital media initiatives, business development, sponsorship, and events,</span></td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;margin-bottom:6pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:26.65pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:8.5pt;vertical-align:text-top;white-space:nowrap;width:9.35pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;font-style:normal;font-weight:normal;">offering property operating services to our tenants and others, including waste handling and facility services, and the provision of energy services,</span></td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;margin-bottom:6pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:26.65pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:8.5pt;vertical-align:text-top;white-space:nowrap;width:9.35pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;font-style:normal;font-weight:normal;">selling or leasing land adjacent to our properties, commonly referred to as “outlots” or “outparcels,” and</span></td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:26.65pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:8.5pt;vertical-align:text-top;white-space:nowrap;width:9.35pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;font-style:normal;font-weight:normal;">generating interest income on cash deposits and investments in loans, including those made to related entities.</span></td></tr></table><div style="margin-top:6pt;"></div>
CY2023Q4 spg Joint Venture Properties Number
JointVenturePropertiesNumber
81
CY2023Q4 spg Joint Venture Properties Managed Number
JointVenturePropertiesManagedNumber
51
CY2023Q4 spg Joint Venture Properties Number
JointVenturePropertiesNumber
81
CY2023Q4 spg International Joint Venture Properties
InternationalJointVentureProperties
24
CY2023Q4 spg Joint Venture Properties Managed By Others
JointVenturePropertiesManagedByOthers
30
CY2023Q4 us-gaap Land
Land
3643432000
CY2022Q4 us-gaap Land
Land
3632943000
CY2023Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
35141486000
CY2022Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
34246835000
CY2023Q4 spg Investment Land Building And Building Improvements
InvestmentLandBuildingAndBuildingImprovements
38784918000
CY2022Q4 spg Investment Land Building And Building Improvements
InvestmentLandBuildingAndBuildingImprovements
37879778000
CY2023Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
500220000
CY2022Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
447134000
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
39285138000
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
38326912000
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
17716788000
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
16563749000
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
21568350000
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
21763163000
CY2023Q4 us-gaap Development In Process
DevelopmentInProcess
760175000
CY2022Q4 us-gaap Development In Process
DevelopmentInProcess
587644000
CY2023 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
39906000
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
35482000
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
31204000
CY2023 spg Cash And Cash Equivalents And Short Term Investments
CashAndCashEquivalentsAndShortTermInvestments
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;margin:0pt 0pt 6pt 26.65pt;"><span style="font-style:italic;font-weight:bold;">Cash and Cash Equivalents and Short-term investments</span></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash and cash equivalents. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents generally consist of commercial paper, bankers’ acceptances, Eurodollars, repurchase agreements, and money market deposits or securities. Financial instruments that potentially subject us to concentrations of credit risk include our cash and cash equivalents and our trade accounts receivable. We place our cash and cash equivalents with institutions of high credit quality. However, at certain times, such cash and cash equivalents are in excess of Federal Deposit Insurance Corporation and Securities Investor Protection Corporation insurance limits. See Notes 4 and 8 for disclosures about non-cash investing and financing transactions.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt;">We classify short-term investments, which consist of time-deposits with original maturities in excess of 90 days as available-for-sale.  Short-term investments are reported at fair value and reviewed periodically for allowances for credit losses and impairment.  When evaluating the investments, we review factors such as the extent to which the fair value of </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;margin:0pt;">the security is less than the amortized cost basis, adverse conditions specifically related to the security, the financial condition of the issuer, the Company’s intent to sell, and whether it would be more likely than not that the Company would be required to sell the investments before the recovery of their amortized cost basis.  </p>
CY2023Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
97700000
CY2022Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
73000000.0
CY2023Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
240200000
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
236200000
CY2023 us-gaap Equity Securities Without Readily Determinable Fair Value Downward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentAnnualAmount
0
CY2022 us-gaap Equity Securities Without Readily Determinable Fair Value Downward Price Adjustment Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentAnnualAmount
27500000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
79700000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
52300000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;margin:0pt 0pt 6pt 26.65pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">We prepared the accompanying consolidated financial statements in accordance with accounting principles generally accepted in the United States, or GAAP. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported period. Our actual results could differ from these estimates.</p>
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
77811000
CY2022Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
97553000
CY2023Q4 spg Finite Lived Intangible Asset Acquired In Place Leases Net
FiniteLivedIntangibleAssetAcquiredInPlaceLeasesNet
3085000
CY2022Q4 spg Finite Lived Intangible Asset Acquired In Place Leases Net
FiniteLivedIntangibleAssetAcquiredInPlaceLeasesNet
7076000
CY2023Q4 spg Finite Lived Intangible Asset Off Market Lease Favorable Net
FiniteLivedIntangibleAssetOffMarketLeaseFavorableNet
5629000
CY2022Q4 spg Finite Lived Intangible Asset Off Market Lease Favorable Net
FiniteLivedIntangibleAssetOffMarketLeaseFavorableNet
10696000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
79716000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
52325000
CY2023Q4 us-gaap Goodwill
Goodwill
20098000
CY2022Q4 us-gaap Goodwill
Goodwill
20098000
CY2023Q4 spg Other Marketable Securities And Cost Method Investments
OtherMarketableSecuritiesAndCostMethodInvestments
338120000
CY2022Q4 spg Other Marketable Securities And Cost Method Investments
OtherMarketableSecuritiesAndCostMethodInvestments
309212000
CY2023Q4 spg Prepaid Expense Notes Receivable And Other Assets
PrepaidExpenseNotesReceivableAndOtherAssets
593257000
CY2022Q4 spg Prepaid Expense Notes Receivable And Other Assets
PrepaidExpenseNotesReceivableAndOtherAssets
662333000
CY2023Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
1117716000
CY2022Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
1159293000
CY2023Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
273010000
CY2022Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
312464000
CY2023Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
195199000
CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
214911000
CY2023Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
77811000
CY2022Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
97553000
CY2023 spg Amortization Of Finance Lease Cost
AmortizationOfFinanceLeaseCost
34119000
CY2022 spg Amortization Of Finance Lease Cost
AmortizationOfFinanceLeaseCost
39606000
CY2021 spg Amortization Of Finance Lease Cost
AmortizationOfFinanceLeaseCost
43028000
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
11100000
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
15300000
CY2023Q4 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
3467000
CY2023Q4 spg Increase Decrease Amortization To Rental Income Next Twelve Months
IncreaseDecreaseAmortizationToRentalIncomeNextTwelveMonths
-167000
CY2023Q4 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
2347000
CY2023Q4 spg Increase Decrease Amortization To Rental Income Year Two
IncreaseDecreaseAmortizationToRentalIncomeYearTwo
825000
CY2023Q4 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
1568000
CY2023Q4 spg Increase Decrease Amortization To Rental Income Year Three
IncreaseDecreaseAmortizationToRentalIncomeYearThree
1122000
CY2023Q4 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
1252000
CY2023Q4 spg Increase Decrease Amortization To Rental Income Year Four
IncreaseDecreaseAmortizationToRentalIncomeYearFour
1225000
CY2023Q4 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
1212000
CY2023Q4 spg Increase Decrease Amortization To Rental Income Year Five
IncreaseDecreaseAmortizationToRentalIncomeYearFive
1212000
CY2023Q4 us-gaap Below Market Lease Amortization Income After Year Five
BelowMarketLeaseAmortizationIncomeAfterYearFive
1246000
CY2023Q4 spg Increase Decrease Amortization To Rental Income Year After Year Five
IncreaseDecreaseAmortizationToRentalIncomeYearAfterYearFive
1246000
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
11092000
CY2023Q4 spg Amortization Lease Income Expense
AmortizationLeaseIncomeExpense
5463000
CY2023Q4 us-gaap Number Of Credit Risk Derivatives Held
NumberOfCreditRiskDerivativesHeld
0
CY2023Q4 spg Unamortized Loss On Treasury Locks And Terminated Hedges Accumulated Other Comprehensive Income Loss
UnamortizedLossOnTreasuryLocksAndTerminatedHedgesAccumulatedOtherComprehensiveIncomeLoss
41900000
CY2022Q4 spg Unamortized Loss On Treasury Locks And Terminated Hedges Accumulated Other Comprehensive Income Loss
UnamortizedLossOnTreasuryLocksAndTerminatedHedgesAccumulatedOtherComprehensiveIncomeLoss
10900000
CY2023Q4 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
3100000
CY2023 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
-45200000
CY2022 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
131700000
CY2021 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
176000000.0
CY2023Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
48700000
CY2022Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
36500000
CY2023Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
447494000
CY2022Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
448076000
CY2023Q4 us-gaap Other Minority Interests
OtherMinorityInterests
21321000
CY2022Q4 us-gaap Other Minority Interests
OtherMinorityInterests
25052000
CY2023Q4 us-gaap Minority Interest
MinorityInterest
468815000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-221600000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-199500000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-175100000
CY2023 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;margin:0pt 0pt 6pt 26.65pt;"><span style="font-style:italic;font-weight:bold;">Revenue Recognition</span></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt;">We, as a lessor, primarily under long-term leases, retain substantially all of the risks and benefits of ownership of the investment properties and account for our leases as operating leases. We accrue fixed lease income on a straight-line basis over the terms of the leases when we believe substantially all lease income, including the related straight-line rent receivable, is probable of collection. Substantially all of our retail tenants are also required to pay overage rents based on </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;margin:0pt 0pt 6pt 0pt;">sales over a stated base amount during the lease year. We recognize this variable lease consideration only when each tenant’s sales exceed the applicable sales threshold. We amortize any tenant inducements as a reduction of lease income utilizing the straight-line method over the term of the related lease or occupancy term of the tenant, if shorter. </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">We structure our leases to allow us to recover a significant portion of our property operating, real estate taxes, repairs and maintenance, and advertising and promotion expenses from our tenants. A substantial portion of our leases, other than those for anchor stores, require the tenant to reimburse us for a substantial portion of our operating expenses, including common area maintenance, or CAM, real estate taxes and insurance.  Such property operating expenses typically include utility, insurance, security, janitorial, landscaping, food court and other administrative expenses. This significantly reduces our exposure to increases in costs and operating expenses resulting from inflation or otherwise. For substantially all of our leases in the U.S. mall portfolio, we receive a fixed payment from the tenant for the CAM component which is recognized as lease income on a straight-line basis over the term of the lease beginning with the adoption of ASC 842. When not reimbursed by the fixed CAM component, CAM expense reimbursements are based on the tenant’s proportionate share of the allocable operating expenses and CAM capital expenditures for the property. We accrue all variable reimbursements from tenants for recoverable portions of all of these expenses as variable lease consideration in the period the applicable expenditures are incurred. We recognize differences between estimated recoveries and the final billed amounts in the subsequent year. These differences were not material in any period presented. Our advertising and promotional costs are expensed as incurred.  Provisions for credit losses that are not probable of collection are recognized as a reduction of lease income.  </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">In April 2020, the FASB staff released guidance focused on treatment of concessions related to the effects of COVID-19 on the application of lease modification guidance in Accounting Standards Codification (ASC) 842, “Leases.” The guidance provides a practical expedient to forgo the associated reassessments required by ASC 842 when changes to a lease result in similar or lower future consideration.  We have elected to generally account for rent abatements as negative variable lease consideration in the period granted, or in the period we determine we expect to grant an abatement. Further abatements granted in the future will reduce lease income in the period we grant, or determine we expect to grant, an abatement.  </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt 0pt 6pt 0pt;">In connection with rent deferrals or other accruals of unpaid rent payments, if we determine that rent payments are probable of collection, we will continue to recognize lease income on a straight-line basis over the lease term along with associated tenant receivables. However, if we determine that such deferred rent payments or other accrued but unpaid rent payments are not probable of collection, lease income will be recorded on the cash basis, with the corresponding tenant receivable and deferred rent receivable balances charged as a direct write-off against lease income in the period of the change in our collectability determination.  Additionally, our assessment of collectability, primarily under long-term leases, incorporates information regarding a tenant’s financial condition that is obtained from available financial data, the expected outcome of contractual disputes and other matters, and our communications and negotiations with the tenant.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8.5pt;line-height:1.31;text-align:justify;text-indent:26.65pt;margin:0pt;">When a tenant seeks to reorganize its operations through bankruptcy proceedings, we assess the collectability of receivable balances. Our ongoing assessment incorporates, among other things, the timing of a tenant’s bankruptcy filing and our expectations of the assumptions by the tenant in bankruptcy proceedings of leases at the Company’s properties on substantially similar terms.  Refer to Note 9 for further disclosure of lease income. </p>
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RealEstateAccumulatedDepreciation
17351320000
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
16224050000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
15304461000

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