Simon said diluted earnings per share and diluted earnings per unit for the first 9 months of 2024 rose from $4.68 a year earlier to $5.22, an increase of $0.54. The company cited the pre-tax gain on the sale of its remaining Authentic Brands Group (ABG) stake, of $414.8 million, and a $156.4 million increase in lease income as the main factors.

10-QQuarterly reportFiled Nov 8, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Simon said diluted earnings per share and diluted earnings per unit for the first 9 months of 2024 rose from $4.68 a year earlier to $5.22, an increase of $0.54. The company cited the pre-tax gain on the sale of its remaining Authentic Brands Group (ABG) stake, of $414.8 million, and a $156.4 million increase in lease income as the main factors.
The company said income from unconsolidated entities fell $141.5 million in the first 9 months of 2024. It attributed the decline mainly to weak operating performance from its other platform investments, which was partly offset by improved results at its U.S. joint venture properties.
The company said it sold its entire remaining stake in Authentic Brands Group (ABG) on Q1 2024, receiving $1.2 billion in cash. It said the sale resulted in a pre-tax gain of $414.8 million and income tax expense of $103.7 million.
The company said net cash flow from operating activities and distributions of capital from unconsolidated entities totaled $3.0 billion for the 9 months ended September 30, 2024. It said available borrowing capacity under the Credit Facilities was about $8.1 billion as of September 30, 2024.

Key figures

Quarter ended September 30, 2024

Revenue: $1.5B
Operating income: $768M
Net income: $547M
EPS: $1.46

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

9-Month Diluted EPS $5.22

Simon said diluted earnings per share and diluted earnings per unit for the first 9 months of 2024 rose from $4.68 a year earlier to $5.22, an increase of $0.54. The company cited the pre-tax gain on the sale of its remaining Authentic Brands Group (ABG) stake, of $414.8 million, and a $156.4 million increase in lease income as the main factors.

Source · Based on the MD&A text of the filing

Income from unconsolidated entities down in first 9 months

The company said income from unconsolidated entities fell $141.5 million in the first 9 months of 2024. It attributed the decline mainly to weak operating performance from its other platform investments, which was partly offset by improved results at its U.S. joint venture properties.

Source · Based on the MD&A text of the filing

Sale of remaining ABG stake, $1.2 billion

The company said it sold its entire remaining stake in Authentic Brands Group (ABG) on Q1 2024, receiving $1.2 billion in cash. It said the sale resulted in a pre-tax gain of $414.8 million and income tax expense of $103.7 million.

Source · Based on the MD&A text of the filing

Operating and distribution cash of $3.0 billion and borrowing capacity, 9 months

The company said net cash flow from operating activities and distributions of capital from unconsolidated entities totaled $3.0 billion for the 9 months ended September 30, 2024. It said available borrowing capacity under the Credit Facilities was about $8.1 billion as of September 30, 2024.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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