Simon Property Group (SPG) FY2012 results: revenue $4.3 billion, down 1.2% on the year
Simon Property Group Inc. (SPG) reported revenue of $4.3 billion for fiscal 2012, the year ended 31 December 2012, down 1.2% on the year before. Net income was $1.4 billion, up 40.1%, and diluted earnings per share $4.72. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$4.3 billion
-1.2% on the year
FY2007FY2012
Operating margin
47.1%
45.1% a year earlier
FY2007FY2012
Net income
$1.4 billion
+40.1% on the year
FY2007FY2012
Diluted EPS
$4.72
+35.6% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
4,256
4,306
3,958
-1.2%
Operating income
2,006
1,943
1,747
+3.2%
Operating margin
47.1%
45.1%
44.1%
Interest expense
1,068
984
1,027
+8.6%
Income tax
15.7
11.6
4.3
+35.5%
Net income
1,431
1,021
610
+40.1%
Net margin
33.6%
23.7%
15.4%
Diluted EPS
$4.72
$3.48
$2.10
+35.6%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
2,513
2,006
1,755
+25.3%
Capital expenditure
802
445
256
+80.1%
Free cash flow
1,711
1,560
1,499
+9.6%
Free cash flow margin
40.2%
36.2%
37.9%
Cash from investing
-3,581
-994
-1,247
Cash from financing
1,453
-1,010
-3,670
Depreciation and amortisation
1,068
1,066
983
+0.2%
Dividends paid
1,245
1,031
764
+20.7%
Dividend per share
$4.10
$3.50
$2.60
+17.1%
Diluted shares, weighted
303m
294m
291m
+3.3%
Shares outstanding at period end
8,000
8,000
n/a
0.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
5,911
4,650
4,831
+27.1%
Non-controlling interest
982
895
803
+9.8%
Debt
23,051
18,421
17,469
+25.1%
Other liabilities
2,643
2,251
1,755
+17.4%
Total liabilities and equity
32,587
26,217
24,857
+24.3%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
119
101
91.0
+18.6%
Cash and equivalents
1,185
799
797
+48.3%
Other assets
31,263
25,297
23,950
+23.6%
Total assets
32,587
26,217
24,857
+24.3%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.