v3.26.3
Consolidated Statements of Equity - USD ($)
$ in Thousands
Simon Property Group, L.P
General Partner
Simon Property Group, L.P
Limited Partner
Simon Property Group, L.P
Preferred Stock
Simon Property Group, L.P
Noncontrolling Interests
Simon Property Group, L.P
Preferred Stock
Series J cumulative redeemable preferred stock
Common Stock
Accumulated Other Comprehensive Income (Loss)
Capital in Excess of Par Value
Accumulated Deficit
Common Stock Held in Treasury
Noncontrolling Interests
Total
Balance at Dec. 31, 2024           $ 40,778 $ 33 $ (193,026) $ 11,583,051 $ (6,382,515) $ (2,106,396) $ 472,798 $ 3,414,723
Balance at Dec. 31, 2024 $ 2,901,147 $ 451,339 $ 40,778 $ 21,459 $ 3,414,723                
Increase (Decrease) in Stockholders' Equity                          
Exchange of limited partner units                 922     (922)  
Limited partner units exchanged to common units 922 (922)                      
Series J preferred stock premium amortization     (82)   (82) (82)             (82)
Stock incentive program                 (7,502)   7,502    
Redemption of limited partner units (6,048) (287)     (6,335)       (6,048)     (287) (6,335)
Amortization of stock incentive 7,300       7,300       7,300       7,300
Long-term incentive performance units   12,042     12,042             12,042 12,042
Issuance of unit equivalents and other (57,123) 1   470 (56,652)       (1) (55,534) (1,588) 471 (56,652)
Unrealized gain (loss) on hedging activities (11,964) (1,869)     (13,833)     (11,964)       (1,869) (13,833)
Currency translation adjustments (14,447) (2,193)     (16,640)     (14,447)       (2,193) (16,640)
Changes in available-for-sale securities and other 951 147     1,098     951       147 1,098
Net gain reclassified from accumulated other comprehensive loss into earnings (1,259) (196)     (1,455)     (1,259)       (196) (1,455)
Other comprehensive income (loss) (26,719) (4,111)     (30,830)     (26,719)       (4,111) (30,830)
Adjustment to limited partners' interest from change in ownership in the Operating Partnership 16,969 (16,969)             16,969     (16,969)  
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests                   (686,102)   (106,934) (793,036)
Distributions to other noncontrolling interest partners                       (693) (693)
Distributions, excluding distributions on preferred interests classified as temporary equity (685,268) (106,934) (834) (693) (793,729)                
Net income, excluding attributable to preferred interests in the Operating Partnership and attributable to noncontrolling redeemable interests in properties 413,699 64,327 834 512 479,372         414,533   64,839 479,372
Balance at Mar. 31, 2025           40,696 33 (219,745) 11,594,691 (6,709,618) (2,100,482) 420,234 3,025,809
Balance at Mar. 31, 2025 2,564,879 398,486 40,696 21,748 3,025,809                
Balance at Dec. 31, 2024           40,778 33 (193,026) 11,583,051 (6,382,515) (2,106,396) 472,798 3,414,723
Balance at Dec. 31, 2024 2,901,147 451,339 40,778 21,459 3,414,723                
Increase (Decrease) in Stockholders' Equity                          
Unrealized gain (loss) on hedging activities         (30,521)               (30,521)
Currency translation adjustments         (69,629)               (69,629)
Changes in available-for-sale securities and other         2,699               2,699
Net gain reclassified from accumulated other comprehensive loss into earnings         (4,488)               (4,488)
Balance at Sep. 30, 2025           40,531 33 (281,298) 11,618,355 (6,934,926) (2,093,084) 379,960 2,729,571
Balance at Sep. 30, 2025 2,309,080 358,686 40,531 21,274 2,729,571                
Balance at Mar. 31, 2025           40,696 33 (219,745) 11,594,691 (6,709,618) (2,100,482) 420,234 3,025,809
Balance at Mar. 31, 2025 2,564,879 398,486 40,696 21,748 3,025,809                
Increase (Decrease) in Stockholders' Equity                          
Series J preferred stock premium amortization     (82)   (82) (82)             (82)
Stock incentive program                 (19,721)   19,721    
Redemption of limited partner units (47) (2)     (49)       (47)     (2) (49)
Amortization of stock incentive 11,302       11,302       11,302       11,302
Long-term incentive performance units   9,381     9,381             9,381 9,381
Issuance of unit equivalents and other (6,500) (151)   989 (5,662)       223 1,528 (8,251) 838 (5,662)
Unrealized gain (loss) on hedging activities (16,091) (2,502)     (18,593)     (16,091)       (2,502) (18,593)
Currency translation adjustments (19,029) (2,947)     (21,976)     (19,029)       (2,947) (21,976)
Changes in available-for-sale securities and other (183) (28)     (211)     (183)       (28) (211)
Net gain reclassified from accumulated other comprehensive loss into earnings (1,260) (195)     (1,455)     (1,260)       (195) (1,455)
Other comprehensive income (loss) (36,563) (5,672)     (42,235)     (36,563)       (5,672) (42,235)
Adjustment to limited partners' interest from change in ownership in the Operating Partnership 7,339 (7,339)             7,339     (7,339)  
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests                   (686,484)   (106,616) (793,100)
Distributions to other noncontrolling interest partners                       (1,597) (1,597)
Distributions, excluding distributions on preferred interests classified as temporary equity (685,649) (106,616) (835) (1,597) (794,697)                
Net income, excluding attributable to preferred interests in the Operating Partnership and attributable to noncontrolling redeemable interests in properties 556,133 86,396 835 435 643,799         556,968   86,831 643,799
Balance at Jun. 30, 2025           40,614 33 (256,308) 11,593,787 (6,837,606) (2,089,012) 396,058 2,847,566
Balance at Jun. 30, 2025 2,410,894 374,483 40,614 21,575 2,847,566                
Increase (Decrease) in Stockholders' Equity                          
Series J preferred stock premium amortization     (83)   (83) (83)             (83)
Redemption of limited partner units (143) (6)     (149)       (143)     (6) (149)
Amortization of stock incentive 9,328       9,328       9,328       9,328
Long-term incentive performance units   18,482     18,482             18,482 18,482
Issuance of unit equivalents and other (5,569) (2)   (6) (5,577)       58 (1,555) (4,072) (8) (5,577)
Unrealized gain (loss) on hedging activities 1,651 255     1,907     1,651       255 1,907
Currency translation adjustments (26,842) (4,171)     (31,013)     (26,842)       (4,171) (31,013)
Changes in available-for-sale securities and other 1,568 244     1,812     1,568       244 1,812
Net gain reclassified from accumulated other comprehensive loss into earnings (1,367) (212)     (1,579)     (1,367)       (212) (1,579)
Other comprehensive income (loss) (24,990) (3,884)     (28,874)     (24,990)       (3,884) (28,874)
Adjustment to limited partners' interest from change in ownership in the Operating Partnership 15,325 (15,325)             15,325     (15,325)  
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests                   (702,773)   (109,227) (812,000)
Distributions to other noncontrolling interest partners                       (975) (975)
Distributions, excluding distributions on preferred interests classified as temporary equity (701,939) (109,227) (834) (975) (812,975)                
Net income, excluding attributable to preferred interests in the Operating Partnership and attributable to noncontrolling redeemable interests in properties 606,174 94,165 834 680 701,853         607,008   94,845 701,853
Balance at Sep. 30, 2025           40,531 33 (281,298) 11,618,355 (6,934,926) (2,093,084) 379,960 2,729,571
Balance at Sep. 30, 2025 2,309,080 358,686 40,531 21,274 2,729,571                
Balance at Dec. 31, 2025           40,451 33 (251,361) 12,347,192 (4,608,136) (2,319,911) 1,263,819 6,472,087
Balance at Dec. 31, 2025 5,167,817 884,913 40,451 378,906 6,472,087                
Increase (Decrease) in Stockholders' Equity                          
Series J preferred stock premium amortization     (82)   (82) (82)             (82)
Stock incentive program                 (8,157)   8,157    
Redemption of limited partner units (1,122) (97)     (1,219)       (1,122)     (97) (1,219)
Treasury unit purchase (175,284)       (175,284)                
Amortization of stock incentive 6,914       6,914       6,914       6,914
Treasury stock purchase                     (175,284)   (175,284)
Long-term incentive performance units   51,519     51,519             51,519 51,519
Issuance of unit equivalents and other (34,635) (1)   (250) (34,886)       (1) (32,237) (2,397) (251) (34,886)
Unrealized gain (loss) on hedging activities 9,544 1,690     11,234     9,544       1,690 11,234
Currency translation adjustments 14,531 2,054     16,585     14,531       2,054 16,585
Changes in available-for-sale securities and other 971 172     1,143     971       172 1,143
Net gain reclassified from accumulated other comprehensive loss into earnings (1,455) (251)     (1,706)     (1,455)       (251) (1,706)
Other comprehensive income (loss) 23,591 3,665     27,256     23,591       3,665 27,256
Adjustment to limited partners' interest from change in ownership in the Operating Partnership 66,410 (66,410)             66,410     (66,410)  
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests                   (715,706)   (122,887) (838,593)
Distributions to other noncontrolling interest partners                       (3,418) (3,418)
Distributions, excluding distributions on preferred interests classified as temporary equity (714,872) (122,887) (834) (3,418) (842,011)                
Net income, excluding attributable to preferred interests in the Operating Partnership and attributable to noncontrolling redeemable interests in properties 479,569 82,313 834 5,521 568,237         480,403   87,834 568,237
Balance at Mar. 31, 2026           40,369 33 (227,770) 12,411,236 (4,875,676) (2,489,435) 1,213,774 6,072,531
Balance at Mar. 31, 2026 4,818,388 833,015 40,369 380,759 6,072,531                
Balance at Dec. 31, 2025           40,451 33 (251,361) 12,347,192 (4,608,136) (2,319,911) 1,263,819 6,472,087
Balance at Dec. 31, 2025 5,167,817 884,913 40,451 378,906 6,472,087                
Increase (Decrease) in Stockholders' Equity                          
Unrealized gain (loss) on hedging activities         55,242               55,242
Currency translation adjustments         51,367               51,367
Changes in available-for-sale securities and other         (4,181)               (4,181)
Net gain reclassified from accumulated other comprehensive loss into earnings         (5,118)               (5,118)
Balance at Sep. 30, 2026           40,205 33 (168,039) 12,445,260 (5,352,962) (2,879,347) 1,054,683 5,139,833
Balance at Sep. 30, 2026 4,044,945 699,380 40,205 355,303 5,139,833                
Balance at Mar. 31, 2026           40,369 33 (227,770) 12,411,236 (4,875,676) (2,489,435) 1,213,774 6,072,531
Balance at Mar. 31, 2026 4,818,388 833,015 40,369 380,759 6,072,531                
Increase (Decrease) in Stockholders' Equity                          
Series J preferred stock premium amortization     (82)   (82) (82)             (82)
Stock incentive program                 (20,864)   20,864    
Redemption of limited partner units (47,135) (3,531)     (50,666)       (47,135)     (3,531) (50,666)
Treasury unit purchase (160,727)       (160,727)                
Amortization of stock incentive 12,074       12,074       12,074       12,074
Treasury stock purchase                     (160,727)   (160,727)
Long-term incentive performance units   11,022     11,022             11,022 11,022
Issuance of unit equivalents and other (16,146) 1   (147) (16,292)       258 (7,601) (8,803) (146) (16,292)
Unrealized gain (loss) on hedging activities 20,442 3,516     23,958     20,442       3,516 23,958
Currency translation adjustments (22,205) (3,741)     (25,946)     (22,205)       (3,741) (25,946)
Changes in available-for-sale securities and other (2,752) (476)     (3,228)     (2,752)       (476) (3,228)
Net gain reclassified from accumulated other comprehensive loss into earnings (1,455) (251)     (1,706)     (1,455)       (251) (1,706)
Other comprehensive income (loss) (5,970) (952)     (6,922)     (5,970)       (952) (6,922)
Adjustment to limited partners' interest from change in ownership in the Operating Partnership 38,556 (38,556)             38,556     (38,556)  
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests (728,050) (126,402) (835) (4,798) (860,085)         (728,885)   (126,402) (855,287)
Distributions to other noncontrolling interest partners                       (4,798) (4,798)
Net income, excluding attributable to preferred interests in the Operating Partnership and attributable to noncontrolling redeemable interests in properties 483,139 83,559 835 6,314 573,847         483,974   89,873 573,847
Balance at Jun. 30, 2026           40,287 33 (233,740) 12,394,125 (5,128,188) (2,638,101) 1,140,284 5,574,700
Balance at Jun. 30, 2026 4,394,129 758,156 40,287 382,128 5,574,700                
Increase (Decrease) in Stockholders' Equity                          
Exchange of limited partner units                 951     (951)  
Limited partner units exchanged to common units 951 (951)                      
Series J preferred stock premium amortization     (82)   (82) (82)             (82)
Stock incentive program                 (200)   200    
Redemption of limited partner units (128) (9)     (137)       (128)     (9) (137)
Treasury unit purchase (236,513)       (236,513)                
Amortization of stock incentive 9,640       9,640       9,640       9,640
Treasury stock purchase                     (236,513)   (236,513)
Long-term incentive performance units   11,332     11,332             11,332 11,332
Issuance of unit equivalents and other (1,353)     288 (1,065)       246 3,334 (4,933) 288 (1,065)
Unrealized gain (loss) on hedging activities 17,078 2,972     20,050     17,078       2,972 20,050
Currency translation adjustments 51,864 8,864     60,728     51,864       8,864 60,728
Changes in available-for-sale securities and other (1,787) (309)     (2,096)     (1,787)       (309) (2,096)
Net gain reclassified from accumulated other comprehensive loss into earnings (1,454) (252)     (1,706)     (1,454)       (252) (1,706)
Other comprehensive income (loss) 65,701 11,275     76,976     65,701       11,275 76,976
Adjustment to limited partners' interest from change in ownership in the Operating Partnership 40,626 (40,626)             40,626     (40,626)  
Distributions to common stockholders and limited partners, excluding Operating Partnership preferred interests                   (727,901)   (125,816) (853,717)
Distributions to other noncontrolling interest partners                       (5,751) (5,751)
Distributions, excluding distributions on preferred interests classified as temporary equity (727,067) (125,816) (834) (5,751) (859,468)                
Net income, excluding attributable to preferred interests in the Operating Partnership and attributable to noncontrolling redeemable interests in properties 498,959 86,019 834 (21,362) 564,450         499,793   64,657 564,450
Balance at Sep. 30, 2026           $ 40,205 $ 33 $ (168,039) $ 12,445,260 $ (5,352,962) $ (2,879,347) $ 1,054,683 $ 5,139,833
Balance at Sep. 30, 2026 $ 4,044,945 $ 699,380 $ 40,205 $ 355,303 $ 5,139,833