filings.toolsItem 6. Selected Financial Data
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Item 6. Selected Financial Data
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The following tables set forth selected financial data. The selected financial data should be read in conjunction with the financial statements and notes thereto and with Management's Discussion and Analysis of Financial Condition and Results of Operations. Other data we believe is important in understanding trends in our business is also included in the tables.
| As of or for the Year Ended December 31, | ||||||||||||||||
| 2014 (1) | 2013 | 2012 | 2011 | 2010 (2) | ||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| OPERATING DATA: | ||||||||||||||||
| Total consolidated revenue | $ | 4,870,818 | $ | 4,543,849 | $ | 4,256,157 | $ | 3,728,454 | $ | 3,378,624 | ||||||
| Consolidated income from continuing operations | 1,622,165 | 1,366,793 | 1,563,242 | 1,086,040 | 599,766 | |||||||||||
| Consolidated net income | 1,651,526 | 1,551,590 | 1,719,632 | 1,245,900 | 753,514 | |||||||||||
| Net income attributable to common stockholders | $ | 1,405,251 | $ | 1,316,304 | $ | 1,431,159 | $ | 1,021,462 | $ | 610,424 | ||||||
| BASIC AND DILUTED EARNINGS PER SHARE: | ||||||||||||||||
| Income from continuing operations | $ | 4.44 | $ | 3.73 | $ | 4.29 | $ | 3.03 | $ | 1.66 | ||||||
| Discontinued operations | 0.08 | 0.51 | 0.43 | 0.45 | 0.44 | |||||||||||
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| Net income attributable to common stockholders | $ | 4.52 | $ | 4.24 | $ | 4.72 | $ | 3.48 | $ | 2.10 | ||||||
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| Basic weighted average shares outstanding | 310,731 | 310,255 | 303,137 | 293,504 | 291,076 | |||||||||||
| Diluted weighted average shares outstanding | 310,731 | 310,255 | 303,138 | 293,573 | 291,350 | |||||||||||
| Dividends per share (3) | $ | 5.15 | $ | 4.65 | $ | 4.10 | $ | 3.50 | $ | 2.60 | ||||||
| BALANCE SHEET DATA: | ||||||||||||||||
| Cash and cash equivalents | $ | 612,282 | $ | 1,691,006 | $ | 1,153,532 | $ | 776,039 | $ | 777,020 | ||||||
| Total assets | 29,532,330 | 33,324,574 | 32,586,606 | 26,216,925 | 24,857,429 | |||||||||||
| Mortgages and other indebtedness | 20,852,993 | 22,669,917 | 22,186,848 | 17,431,588 | 16,465,685 | |||||||||||
| Total equity | 5,951,505 | $ | 6,822,632 | $ | 6,893,089 | $ | 5,544,288 | $ | 5,633,752 | |||||||
| OTHER DATA: | ||||||||||||||||
| Cash flow provided by (used in): | ||||||||||||||||
| Operating activities | $ | 2,730,420 | $ | 2,700,996 | $ | 2,513,072 | $ | 2,005,887 | $ | 1,755,210 | ||||||
| Investing activities | (897,266 | ) | (948,088 | ) | (3,580,671 | ) | (994,042 | ) | (1,246,695 | ) | ||||||
| Financing activities | (2,937,735 | ) | (1,220,563 | ) | 1,453,467 | (1,009,913 | ) | (3,669,515 | ) | |||||||
| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends (4) | 2.39x | 2.22x | 2.43x | 1.99x | 1.46x | |||||||||||
| Funds from Operations (FFO) (5) | 3,235,298 | $ | 3,205,693 | $ | 2,884,915 | $ | 2,438,765 | $ | 1,770,491 | |||||||
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| Dilutive FFO allocable to Simon | $ | 2,765,819 | $ | 2,744,770 | $ | 2,420,348 | $ | 2,021,932 | $ | 1,477,497 | ||||||
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| FFO per diluted share | $ | 8.90 | $ | 8.85 | $ | 7.98 | $ | 6.89 | $ | 5.03 |
(1)
During the year ended December 31, 2014, we recorded a $127.6 million loss on extinguishment of debt associated with five unsecured note tender offers and one early unsecured note redemption, reducing diluted FFO and diluted earnings per share by $0.35. We also recorded transaction expenses related to the spin-off of Washington Prime of $38.2 million or $0.10 per share. 2014 FFO includes results for five months of Washington Prime of $146.2 million or $0.40 per share.
(2)
During the year ended December 31, 2010, we recorded a $350.7 million loss on extinguishment of debt associated with two unsecured note tender offers, reducing diluted FFO and diluted earnings per share by $1.00. We also recorded transaction expenses of $69.0 million, reducing diluted FFO and diluted earnings per share by $0.20 and $0.19, respectively.
(3)
Represents dividends declared per period.
(4)
Ratio calculations for years prior to the year ended December 31, 2014 have been revised to conform to the most recent presentation.
(5)
FFO is a non-GAAP financial measure that we believe provides useful information to investors. Please refer to Management's Discussion and Analysis of Financial Condition and Results of Operations for a definition and reconciliation of FFO to consolidated net income and FFO per share to net income per share.
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