Simon Property Group (SPG) FY2011 results: revenue $4.3 billion, up 8.8% on the year
Simon Property Group Inc. (SPG) reported revenue of $4.3 billion for fiscal 2011, the year ended 31 December 2011, up 8.8% on the year before. Net income was $1.0 billion, up 67.3%, and diluted earnings per share $3.48. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$4.3 billion
+8.8% on the year
FY2007FY2011
Operating margin
45.1%
44.1% a year earlier
FY2007FY2011
Net income
$1.0 billion
+67.3% on the year
FY2007FY2011
Diluted EPS
$3.48
+65.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
4,306
3,958
3,775
+8.8%
Operating income
1,943
1,747
1,407
+11.2%
Operating margin
45.1%
44.1%
37.3%
Interest expense
984
1,027
992
-4.2%
Income tax
11.6
4.3
-5.2
+167.7%
Net income
1,021
610
283
+67.3%
Net margin
23.7%
15.4%
7.5%
Diluted EPS
$3.48
$2.10
$1.05
+65.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,006
1,755
1,721
+14.3%
Capital expenditure
445
256
376
+73.8%
Free cash flow
1,560
1,499
1,344
+4.1%
Free cash flow margin
36.2%
37.9%
35.6%
Cash from investing
-994
-1,247
-419
Cash from financing
-1,010
-3,670
1,883
Depreciation and amortisation
1,066
983
998
+8.5%
Dividends paid
1,031
764
149
+34.9%
Dividend per share
$3.50
$2.60
$2.70
+34.6%
Diluted shares, weighted
294m
291m
268m
+0.8%
Shares outstanding at period end
8,000
n/a
n/a
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
4,650
4,831
4,458
-3.7%
Non-controlling interest
895
803
725
+11.4%
Debt
18,421
17,469
n/a
+5.5%
Other liabilities
2,251
1,755
20,765
+28.3%
Total liabilities and equity
26,217
24,857
25,948
+5.5%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
101
91.0
75.7
+10.7%
Cash and equivalents
799
797
3,958
+0.2%
Other assets
25,297
23,950
21,895
+5.6%
Total assets
26,217
24,857
25,948
+5.5%
10-K for the year ended 31 December 2011, filed 28 February 2013: the filing.