Simon Property Group (SPG) FY2013 results: revenue $4.5 billion, up 6.8% on the year
Simon Property Group Inc. (SPG) reported revenue of $4.5 billion for fiscal 2013, the year ended 31 December 2013, up 6.8% on the year before. Net income was $1.3 billion, down 8.0%, and diluted earnings per share $4.24. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$4.5 billion
+6.8% on the year
FY2007FY2013
Operating margin
48.2%
47.1% a year earlier
FY2007FY2013
Net income
$1.3 billion
-8.0% on the year
FY2007FY2013
Diluted EPS
$4.24
-10.2% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
4,544
4,256
4,306
+6.8%
Operating income
2,189
2,006
1,943
+9.1%
Operating margin
48.2%
47.1%
45.1%
Interest expense
1,082
1,068
984
+1.3%
Income tax
39.5
15.7
11.6
+151.6%
Net income
1,316
1,431
1,021
-8.0%
Net margin
29.0%
33.6%
23.7%
Diluted EPS
$4.24
$4.72
$3.48
-10.2%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
2,701
2,513
2,006
+7.5%
Capital expenditure
841
802
445
+4.8%
Free cash flow
1,860
1,711
1,560
+8.7%
Free cash flow margin
40.9%
40.2%
36.2%
Cash from investing
-948
-3,581
-994
Cash from financing
-1,221
1,453
-1,010
Depreciation and amortisation
1,108
1,068
1,066
+3.7%
Dividends paid
1,446
1,245
1,031
+16.2%
Dividend per share
$4.65
$4.10
$3.50
+13.4%
Diluted shares, weighted
310m
303m
294m
+2.3%
Shares outstanding at period end
n/a
8,000
8,000
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
5,849
5,911
4,650
-1.0%
Non-controlling interest
973
982
895
-0.9%
Debt
23,563
23,051
18,421
+2.2%
Other liabilities
2,939
2,643
2,251
+11.2%
Total liabilities and equity
33,325
32,587
26,217
+2.3%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
94.7
119
101
-20.7%
Cash and equivalents
1,691
1,185
799
+42.8%
Other assets
31,519
31,263
25,297
+0.8%
Total assets
33,325
32,587
26,217
+2.3%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.