SPG Balance Sheet (2009-2025) | SPG

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Balance Sheet	Mar2009	Jun2009	Sep2009	Dec2009	Mar2010	Jun2010	Sep2010	Dec2010	Mar2011	Jun2011	Sep2011	Dec2011	Mar2012	Jun2012	Sep2012	Dec2012	Mar2013	Jun2013	Sep2013	Dec2013	Mar2014	Jun2014	Sep2014	Dec2014	Mar2015	Jun2015	Sep2015	Dec2015	Mar2016	Jun2016	Sep2016	Dec2016	Mar2017	Jun2017	Sep2017	Dec2017	Mar2018	Jun2018	Sep2018	Dec2018	Mar2019	Jun2019	Sep2019	Dec2019	Mar2020	Jun2020	Sep2020	Dec2020	Mar2021	Jun2021	Sep2021	Dec2021	Mar2022	Jun2022	Sep2022	Dec2022	Mar2023	Jun2023	Sep2023	Dec2023	Mar2024	Jun2024	Sep2024	Dec2024	Mar2025	Jun2025	Sep2025	Dec2025
Real Estate - Gross (Quarter)		25.33B	25.41B	25.34B	25.11B	25.30B	27.43B	27.51B	27.52B	27.50B	28.76B	29.66B	33.92B	34.06B	34.37B	34.25B	34.39B	34.64B	34.76B	30.34B	35.60B	30.95B	31.02B	31.32B	32.54B	32.90B	33.21B	33.46B	34.19B	34.33B	35.15B	35.23B	35.31B	35.70B	35.93B	36.39B	36.38B	36.43B	36.94B	37.09B	37.19B	37.46B	37.59B	37.80B	37.90B	37.97B	38.07B	38.05B	37.79B	37.94B	37.98B	37.93B	37.90B	37.89B	37.98B	38.33B	38.51B	38.75B	38.95B	39.29B	39.49B	39.66B	39.94B	40.24B	40.84B	42.35B	42.62B	50.95B
Accumulated Depreciation (Quarter)		6.60B	6.84B	7.00B	7.03B	7.24B	7.47B	7.71B	7.87B	8.10B	8.24B	8.39B	8.59B	8.83B	9.10B	9.07B	9.30B	9.54B	9.80B	8.09B	10.31B	8.57B	8.73B	8.95B	9.15B	9.41B	9.66B	9.92B	10.11B	10.34B	10.62B	10.87B	11.08B	11.38B	11.67B	11.94B	12.07B	12.35B	12.64B	12.88B	13.12B	13.44B	13.71B	13.91B	14.09B	14.39B	14.69B	14.89B	14.88B	15.18B	15.41B	15.62B	15.80B	15.98B	16.25B	16.56B	16.82B	17.13B	17.41B	17.72B	18.01B	18.30B	18.63B	19.05B	19.30B	20.02B	20.34B	20.70B
Real Estate - Net (Quarter)		18.72B	18.57B	18.33B	18.09B	18.05B	19.96B	19.80B	19.65B	19.40B	20.52B	21.27B	25.34B	25.24B	25.27B	25.18B	25.09B	25.09B	24.96B	22.24B	25.29B	22.38B	22.29B	22.37B	23.39B	23.49B	23.54B	23.55B	24.08B	23.99B	24.53B	24.36B	24.23B	24.32B	24.26B	24.46B	24.31B	24.07B	24.30B	24.21B	24.07B	24.01B	23.88B	23.90B	23.81B	23.58B	23.38B	23.16B	22.90B	22.76B	22.57B	22.31B	22.10B	21.91B	21.74B	21.76B	21.68B	21.62B	21.54B	21.57B	21.48B	21.37B	21.31B	21.20B	21.54B	22.34B	22.28B	30.24B
Receivables - Notes (Quarter)		0.59B	0.64B	0.63B	0.63B	0.66B	0.65B	0.65B	0.65B	0.65B	0.65B	0.65B
Assets
Current Assets
Cash & Equivalents (Quarter)	0.90B	2.63B	3.75B	3.96B	3.33B	2.29B	1.01B	0.80B	0.64B	0.79B	0.58B	0.80B	0.88B	0.64B	0.45B	1.18B	0.83B	1.10B	1.10B	1.72B	1.01B	1.67B	0.82B	0.61B	0.83B	0.57B	0.86B	0.70B	0.81B	0.88B	0.81B	0.56B	0.51B	0.49B	0.51B	1.48B	0.37B	0.71B	0.70B	0.51B	0.44B	0.48B	3.65B	0.67B	3.72B	3.31B	1.08B	1.01B	0.94B	1.29B	0.44B	0.53B	0.51B	0.54B	0.60B	0.62B	1.16B	0.84B	0.77B	1.17B	1.25B	1.23B	2.17B	1.40B	1.38B	1.23B	1.55B	0.82B
Receivables - Net (Quarter)		0.34B	0.35B	0.40B	0.36B	0.34B	0.38B	0.43B	0.37B	0.38B	0.41B	0.49B	0.42B	0.42B	0.46B	0.52B	0.45B	0.49B	0.53B	0.52B	0.53B	0.49B	0.52B	0.58B	0.52B	0.54B	0.56B	0.62B	0.57B	0.60B	0.63B	0.66B	0.62B	0.64B	0.69B	0.74B	0.69B	0.68B	0.72B	0.76B	0.73B	0.74B	0.78B	0.83B	0.79B	1.46B	1.45B	1.24B	1.02B	0.95B	0.94B	0.92B	0.82B	0.83B	0.79B	0.82B	0.78B	0.74B	0.76B	0.83B	0.79B	0.79B	0.77B	0.80B	0.78B	0.78B	0.82B	0.93B
Receivables (Quarter)		0.34B	0.35B	0.40B	0.36B	0.34B	0.38B	0.43B	0.37B	0.38B	0.41B	0.49B	0.42B	0.42B	0.46B	0.52B	0.45B	0.49B	0.53B	0.52B	0.53B	0.49B	0.52B	0.58B	0.52B	0.54B	0.56B	0.62B	0.57B	0.60B	0.63B	0.66B	0.62B	0.64B	0.69B	0.74B	0.69B	0.68B	0.72B	0.76B	0.73B	0.74B	0.78B	0.83B	0.79B	1.46B	1.45B	1.24B	1.02B	0.95B	0.94B	0.92B	0.82B	0.83B	0.79B	0.82B	0.78B	0.74B	0.76B	0.83B	0.79B	0.79B	0.77B	0.80B	0.78B	0.78B	0.82B	0.93B
Non-Current Assets
Long-Term Investments (Quarter)		1.55B	1.51B	1.47B	1.42B	1.40B	1.41B	1.39B	1.38B	1.35B	1.46B	1.38B	1.93B	1.94B	2.01B	2.11B	1.99B	1.96B	1.97B	2.01B	2.01B	2.00B	1.87B	1.79B	1.72B	2.35B	2.01B	1.94B	2.03B	2.69B	2.44B	1.80B	2.37B	2.32B	2.33B	2.27B	2.01B	1.77B	2.28B	1.77B	1.68B	1.72B	1.61B	0.17B	1.63B	1.64B	1.64B	2.60B	0.34B	0.10B	0.10B	0.34B	0.34B	0.34B	0.10B	0.10B	0.20B	0.20B	1.46B	1.53B	0.24B	-0.10B	2.63B	0.21B	1.40B	2.61B	1.49B	0.22B
Goodwill (Quarter)				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B
Intangibles (Quarter)				0.10B				0.01B				0.25B																0.00B
Goodwill & Intangibles (Quarter)				0.12B				0.03B				0.27B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B				0.02B
Long-Term Deferred Tax (Quarter)				0.01B				0.01B				0.01B				0.00B				0.00B				0.00B
Other Non-Current Assets (Quarter)		1.18B	1.17B	0.01B	1.16B	1.17B	1.37B	0.09B	1.88B	1.97B	1.95B	1.63B	0.12B	1.75B	1.84B	1.57B	1.52B	1.47B	1.56B	3.00B	1.56B	1.52B	1.72B	1.81B	1.85B	1.33B	1.39B	1.27B	1.47B	1.34B	1.36B	1.35B	1.38B	1.37B	1.34B	1.37B	1.37B	1.30B	1.30B	1.21B	1.72B	1.64B	1.80B	1.21B	1.23B	1.13B	1.14B	1.08B	1.10B	1.10B	1.11B	1.12B	1.13B	1.19B	1.17B	1.16B	1.14B	1.17B	1.23B	1.12B	1.12B	1.13B	1.24B	1.37B	1.31B	1.34B	1.44B	1.98B
Assets (Quarter)		25.01B	25.98B	25.95B	24.98B	23.92B	24.79B	24.86B	24.57B	24.53B	25.58B	26.22B	32.42B	31.99B	31.98B	32.59B	31.89B	32.02B	32.11B	33.32B	32.76B	30.59B	29.67B	29.53B	30.48B	30.29B	30.85B	30.57B	31.40B	31.38B	31.67B	31.10B	30.95B	30.97B	31.03B	32.26B	31.02B	30.84B	31.08B	30.69B	30.84B	30.73B	33.84B	31.23B	34.12B	34.03B	31.66B	34.79B	34.41B	34.83B	33.95B	33.78B	33.45B	33.08B	32.80B	33.01B	33.30B	32.82B	32.96B	34.28B	33.70B	33.38B	33.28B	32.41B	32.50B	33.30B	33.60B	40.61B
Liabilities
Current Liabilities
Accounts Payables (Quarter)		0.98B	1.05B	0.99B	0.95B	0.92B	0.98B	0.99B	1.01B	1.05B	1.15B	1.09B	1.13B	1.17B	1.20B	1.37B	1.23B	1.27B	1.33B	1.22B	1.26B	1.15B	1.15B	1.26B	1.12B	1.22B	1.31B	1.32B	1.17B	1.21B	1.24B	1.21B	1.08B	1.21B	1.29B	1.27B	1.18B	1.23B	1.27B	1.32B	1.16B	1.23B	1.32B	1.39B	1.25B	1.22B	1.30B	1.31B	1.20B	1.23B	1.32B	1.43B	1.21B	1.34B	1.42B	1.49B	1.35B	1.54B	1.63B	1.69B	1.53B	1.63B	1.62B	1.71B	1.49B	1.63B	1.65B	1.95B
Dividends payables (Quarter)																																														0.46B	0.46B	0.49B	0.49B	0.53B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B
Payables (Quarter)		0.98B	1.05B	0.99B	0.95B	0.92B	0.98B	0.99B	1.01B	1.05B	1.15B	1.09B	1.13B	1.17B	1.20B	1.37B	1.23B	1.27B	1.33B	1.22B	1.26B	1.15B	1.15B	1.26B	1.12B	1.22B	1.31B	1.32B	1.17B	1.21B	1.24B	1.21B	1.08B	1.21B	1.29B	1.27B	1.18B	1.23B	1.27B	1.32B	1.16B	1.23B	1.32B	1.39B	1.25B	1.68B	1.76B	1.80B	1.69B	1.76B	1.33B	1.43B	1.21B	1.34B	1.42B	1.49B	1.35B	1.55B	1.63B	1.70B	1.53B	1.63B	1.62B	1.71B	1.49B	1.63B	1.65B	1.96B
Non-Current Liabilities
Non-Current Debt (Quarter)																																				0.07B				0.07B				0.07B				0.06B				0.06B				0.06B				0.06B				0.06B				0.02B
Minority Interest (Quarter)		0.19B	0.38B	0.13B	0.71B	-0.17B	0.80B	0.98B	0.09B	0.09B	0.87B	-0.06B	0.26B	0.26B	-0.00B	-0.00B	0.19B	-0.00B	0.98B	0.97B	0.11B	0.03B	0.85B	0.86B	0.86B	-0.00B	0.76B	0.74B	0.77B	0.70B	0.70B	0.65B	0.62B	0.56B	0.56B	0.55B	0.53B	0.51B	0.51B	0.49B	0.49B	0.01B	0.40B	0.22B	0.00B	0.30B	0.26B	0.43B	0.02B	0.48B	0.50B	0.55B	0.01B	0.44B	0.46B	0.45B	0.22B	0.02B	0.20B	0.45B	0.18B	0.45B	0.18B	0.18B	0.24B	0.37B	0.38B	0.38B
Liabilities from Discontinued Operations (Quarter)																				1.12B
Operating Leases (Quarter)																																												0.52B	0.52B	0.52B	0.52B	0.52B	0.51B	0.51B	0.51B	0.51B	0.50B	0.50B	0.50B	0.50B	0.50B	0.49B	0.49B	0.48B	0.53B	0.52B	0.52B	0.52B	0.52B	0.52B	0.53B	0.76B
Non-Current Deferred Tax Liability (Quarter)																																0.27B				0.30B				0.28B				0.26B				0.25B				0.26B				0.28B				0.31B				0.22B				0.37B
Other Non-Current Liabilities (Quarter)				0.98B		0.93B	0.92B	0.96B	0.94B	0.94B	0.97B	0.17B	0.28B	0.23B	0.30B	0.30B	0.25B	0.23B	0.23B	0.25B	0.20B	0.28B	0.26B	0.28B	0.30B	0.25B	0.19B	0.21B	0.37B	0.37B	0.49B	0.46B	0.46B	0.49B	0.51B	0.52B	0.53B	0.50B	0.50B	0.50B	1.01B	1.02B	1.00B	0.46B	0.46B	0.46B	0.48B	0.51B	0.46B	0.55B	0.53B	0.54B	0.53B	0.54B	0.50B	0.54B	0.50B	0.51B	0.56B	0.62B	0.64B	0.62B	0.66B	0.63B	0.74B	0.91B	0.91B	1.02B
Total Non-Current Liabilities (Quarter)				19.26B		17.59B	18.17B	18.18B	17.98B	17.93B	18.92B	20.23B	24.59B	24.37B	24.50B	25.21B	24.63B	24.80B	24.90B	26.06B	25.59B	24.16B	23.52B	23.28B	24.19B	24.63B	25.30B	25.11B	25.51B	25.54B	25.69B	25.55B	25.59B	26.00B	26.09B	27.31B	26.25B	26.27B	26.48B	26.16B	25.90B	26.12B	29.54B	27.64B	30.94B	31.04B	28.98B	30.62B	29.92B	30.07B	28.99B	28.84B	28.63B	28.44B	28.26B	28.65B	29.12B	28.78B	28.80B	29.97B	29.30B	29.17B	29.30B	28.18B	28.49B	29.30B	29.72B	32.88B
Total Liabilities (Quarter)	-0.52B	19.51B	20.35B	20.23B	19.49B	18.52B	19.09B	19.14B	18.92B	18.87B	19.89B	20.40B	24.86B	24.59B	24.80B	25.52B	24.88B	25.03B	25.13B	26.31B	25.78B	24.45B	23.78B	23.56B	24.48B	24.88B	25.50B	25.32B	25.88B	25.90B	26.18B	26.01B	26.05B	26.49B	26.60B	27.83B	26.78B	26.77B	26.98B	26.66B	26.92B	27.14B	30.54B	28.10B	31.40B	31.50B	29.46B	31.13B	30.38B	30.61B	29.52B	29.38B	29.16B	28.98B	28.76B	29.19B	29.62B	29.29B	29.35B	30.60B	29.93B	29.79B	29.95B	28.81B	29.23B	30.20B	30.63B	33.90B
Shareholder's Equity
Total Debt (Quarter)																																				0.07B				0.07B				0.07B				0.06B				0.06B				0.06B				0.06B				0.06B				0.02B
Common Equity (Quarter)	0.52B	0.70B	0.73B	5.18B	0.71B	0.74B	0.80B	5.63B	0.77B	0.77B	0.87B	5.54B	1.22B	1.19B	0.98B	6.89B	0.98B	0.97B	0.98B	6.82B	0.99B	0.88B	0.85B	5.95B	0.86B	-0.00B	0.76B	5.22B	0.77B	0.70B	5.33B	4.96B	4.11B	3.73B	4.24B	4.24B	4.03B	3.88B	3.90B	3.80B	3.70B	3.36B	3.08B	2.91B	2.51B	2.34B	2.02B	3.47B	3.52B	3.71B	3.87B	3.85B	3.73B	3.53B	3.48B	3.61B	3.45B	3.30B	3.41B	3.49B	3.58B	3.40B	3.14B	2.94B	3.03B	2.85B	2.73B	5.21B
Shareholder's Equity (Quarter)	0.52B	0.70B	0.73B	5.18B	0.71B	0.74B	0.80B	5.63B	0.77B	0.77B	0.87B	5.54B	1.22B	1.19B	0.98B	6.89B	0.98B	0.97B	0.98B	6.82B	0.99B	0.88B	0.85B	5.95B	-0.00B	0.77B	0.76B	5.22B	0.77B	0.00B	5.33B	4.96B	4.73B	3.73B	4.24B	4.24B	4.03B	3.88B	3.90B	3.80B	3.70B	3.36B	3.08B	2.91B	2.51B	2.34B	2.02B	3.47B	3.52B	3.71B	3.87B	3.85B	3.73B	3.53B	3.48B	3.61B	3.45B	3.30B	3.41B	3.49B	3.58B	3.40B	3.14B	2.94B	3.03B	2.85B	2.73B	5.21B
Liabilities and Shareholders Equity (Quarter)		25.01B	25.98B	25.95B	24.98B	23.92B	24.79B	24.86B	24.57B	24.53B	25.58B	26.22B	32.42B	31.99B	31.98B	32.59B	31.89B	32.02B	32.11B	33.32B	32.76B	30.59B	29.67B	29.53B	30.48B	30.29B	30.85B	30.57B	31.40B	31.38B	31.67B	31.10B	30.95B	30.97B	31.03B	32.26B	31.02B	30.84B	31.08B	30.69B	30.84B	30.73B	33.84B	31.23B	34.12B	34.03B	31.66B	34.79B	34.41B	34.83B	33.95B	33.78B	33.45B	33.08B	32.80B	33.01B	33.30B	32.82B	32.96B	34.28B	33.70B	33.38B	33.28B	32.41B	32.50B	33.30B	33.60B	40.61B
Treasury Shares (Quarter)		0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.01B	0.00B	0.01B		0.01B	0.00B	0.01B	0.00B	0.01B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.01B	0.00B	0.01B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B	0.00B			0.02B	0.00B		0.02B	0.00B
Retained Earnings (Quarter)		-2.79B	-0.02B	-0.00B	-0.03B	-3.15B	-3.10B	0.01B	-3.17B	0.05B	-3.22B	-0.09B	-2.89B	-2.97B	-3.06B	-3.08B	-0.08B	-0.10B	-3.22B	-3.22B	-0.07B	-0.06B	-4.20B	-4.21B	-4.11B	-0.25B	-4.16B	-0.25B	-0.12B	-4.34B	-0.12B	-4.46B	-0.10B	-0.10B	-4.78B	-4.78B	-4.77B	-4.83B	-0.12B	-4.89B	-4.98B	-0.13B	-0.12B	-5.38B	-0.12B	-0.16B	-5.95B	-0.19B	-0.18B	-0.19B	-5.79B	-0.19B	-5.95B	-0.17B	-0.16B	-0.16B	-0.16B	-0.18B	-0.14B	-6.10B	-0.17B	-6.16B	-6.36B	-0.19B	-0.22B	-6.84B	-6.93B	-0.25B
Preferred Shares (Quarter)		0.05B	0.05B	0.05B	0.05B	0.05B	0.05B	0.05B	0.05B	0.05B	0.05B	0.05B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B	0.04B
Shares Outstanding (Quarter)		0.28B	0.28B	0.29B	0.00B	0.30B	0.30B	0.00B	0.29B	0.29B	0.00B	0.00B	0.31B	0.31B	0.31B	0.00B	0.31B	0.00B	0.00B	0.31B	0.00B	0.31B	0.00B	0.31B	0.00B	0.31B	0.31B	0.31B	0.31B	0.00B	0.31B	0.05B	0.32B	0.00B	0.00B	0.31B	0.32B	0.32B	0.32B	0.05B	0.05B	0.31B	0.32B	0.00B	0.05B	0.32B	0.31B	0.34B	0.33B	0.05B	0.34B	0.34B	0.00B	0.34B	0.00B	0.33B	0.05B	0.05B	0.00B	0.34B	0.00B	0.33B	0.33B	0.33B	0.00B	0.00B	0.33B	0.33B

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SPG Balance Sheet (2009-2025) | SPG

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