Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
ASSETS:
Investment properties, at cost	$ 50,936,227	$ 50,946,067
Less - accumulated depreciation	20,988,491	20,701,510
Investment properties, at cost, net	29,947,736	30,244,557
Cash and cash equivalents	542,955	823,147
Tenant receivables and accrued revenue, net	880,807	934,077
Right-of-use assets, net	738,033	755,934
Deferred costs and other assets	1,969,923	1,981,035
Total assets	39,639,081	40,606,466
LIABILITIES:
Mortgages and unsecured indebtedness	28,247,682	28,430,175
Accounts payable, accrued expenses, intangibles, and deferred revenues	1,701,757	1,954,402
Cash distributions and losses in unconsolidated entities, at equity	1,791,354	1,739,418
Dividend payable	1,462	2,723
Lease liabilities	734,567	756,539
Other liabilities	825,477	1,017,816
Total liabilities	33,302,299	33,901,073
Commitments and contingencies
Limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interests	264,251	233,306
Capital stock (850,000,000 total shares authorized, $0.0001 par value, 238,000,000 shares of excess common stock, 100,000,000 authorized shares of preferred stock):
Series J 83/8% cumulative redeemable preferred stock, 1,000,000 shares authorized, 796,948 issued and outstanding with a liquidation value of $39,847	40,369	40,451
Capital in excess of par value	12,411,236	12,347,192
Accumulated deficit	(4,875,676)	(4,608,136)
Accumulated other comprehensive loss	(227,770)	(251,361)
Common stock held in treasury, at cost, 18,778,775 and 17,844,817 shares, respectively	(2,489,435)	(2,319,911)
Total stockholders' equity	4,858,757	5,208,268
Partners' Equity
Noncontrolling interests	1,213,774	1,263,819
Total equity	6,072,531	6,472,087
Total liabilities and equity	39,639,081	40,606,466
Other unconsolidated entities
ASSETS:
Investment, at equity	4,196,012	4,362,339
Klepierre
ASSETS:
Investment, at equity	1,363,615	1,505,377
Simon Property Group, L.P.
ASSETS:
Investment properties, at cost	50,936,227	50,946,067
Less - accumulated depreciation	20,988,491	20,701,510
Investment properties, at cost, net	29,947,736	30,244,557
Cash and cash equivalents	542,955	823,147
Tenant receivables and accrued revenue, net	880,807	934,077
Right-of-use assets, net	738,033	755,934
Deferred costs and other assets	1,969,923	1,981,035
Total assets	39,639,081	40,606,466
LIABILITIES:
Mortgages and unsecured indebtedness	28,247,682	28,430,175
Accounts payable, accrued expenses, intangibles, and deferred revenues	1,701,757	1,954,402
Cash distributions and losses in unconsolidated entities, at equity	1,791,354	1,739,418
Dividend payable	1,462	2,723
Lease liabilities	734,567	756,539
Other liabilities	825,477	1,017,816
Total liabilities	33,302,299	33,901,073
Commitments and contingencies
Limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interests	264,251	233,306
Partners' Equity
Preferred units, 796,948 units outstanding. Liquidation value of $39,847	40,369	40,451
General Partner, 324,289,912 and 325,223,870 units outstanding, respectively	4,818,388	5,167,817
Limited Partners, 56,063,958 and 55,689,714 units outstanding, respectively	833,015	884,913
Total partners' equity	5,691,772	6,093,181
Nonredeemable noncontrolling interests in properties, net	380,759	378,906
Total equity	6,072,531	6,472,087
Total liabilities and equity	39,639,081	40,606,466
Simon Property Group, L.P. \| Other unconsolidated entities
ASSETS:
Investment, at equity	4,196,012	4,362,339
Simon Property Group, L.P. \| Klepierre
ASSETS:
Investment, at equity	1,363,615	1,505,377
Common stock
Capital stock (850,000,000 total shares authorized, $0.0001 par value, 238,000,000 shares of excess common stock, 100,000,000 authorized shares of preferred stock):
Common stock, $0.0001 par value, 511,990,000 shares authorized, 343,060,687 and 343,060,687 issued and outstanding, respectively	$ 33	$ 33

SIMON PROPERTY GROUP INC. 10-Q