Simon 2021 Annual Report

Simon Property Group, L.P. Consolidated Statements of Cash Flows (Dollars in thousands)

For the Year Ended December 31,

2021

2020

2019

CASH FLOWS FROM OPERATING ACTIVITIES: Consolidated Net Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,568,707 $ 1,277,324 $ 2,423,188 Adjustments to reconcile consolidated net income to net cash provided by operating activities Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,325,895 1,354,991 1,394,172 Loss on debt extinguishment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,841 — 116,256

(Gain) loss on acquisition of controlling interests, sale or disposal of, or recovery on, assets and interests in unconsolidated entities, and impairment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gain on sale or exchange of equity interests . . . . . . . . . . . . . . . . . . . . . . Unrealized losses in fair value of equity instruments . . . . . . . . . . . . . . . . Straight-line lease loss (income). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity in income of unconsolidated entities . . . . . . . . . . . . . . . . . . . . . . . Distributions of income from unconsolidated entities . . . . . . . . . . . . . . . . Changes in assets and liabilities Tenant receivables and accrued revenue, net . . . . . . . . . . . . . . . . . . . . . Deferred costs and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accounts payable, accrued expenses, intangibles, deferred revenues and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . CASH FLOWS FROM INVESTING ACTIVITIES: Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Funding of loans to related parties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repayments of loans to related parties . . . . . . . . . . . . . . . . . . . . . . . . . . Capital expenditures, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash impact from the consolidation of properties . . . . . . . . . . . . . . . . . . . Net proceeds from sale of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Investments in unconsolidated entities . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchase of equity instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from sale of equity instruments . . . . . . . . . . . . . . . . . . . . . . . . . Insurance proceeds for property restoration . . . . . . . . . . . . . . . . . . . . . . . Distributions of capital from unconsolidated entities and other . . . . . . . . . Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of units and other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchase of units related to stock grant recipients' tax withholdings . . . . Redemption of limited partner units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchase of general partner units. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from the special purpose acquisition company IPO, net of transaction costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Establishment of trust account for special purpose acquisition company . . Distributions to noncontrolling interest holders in properties . . . . . . . . . . . Contributions from noncontrolling interest holders in properties . . . . . . . . Partnership distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cash paid to extinguish debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mortgage and unsecured indebtedness proceeds, net of transaction costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mortgage and unsecured indebtedness principal payments . . . . . . . . . . . Net cash (used in) provided by financing activities . . . . . . . . . . . . (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS . . . . . . . . . . . CASH AND CASH EQUIVALENTS, beginning of period . . . . . . . . . . . . . . . . .

(206,855) (178,672)

114,960

(14,883)

—

—

8,095 22,619

19,632 19,950

8,212

(67,139) (444,349) 428,769

(782,837) 436,881 265,352 (77,592) 203,968 3,637,402

(219,870) 184,733 (415,911) (28,191)

(157)

(49,338)

19,080

13,100

2,326,698

3,807,831

(257,080) (3,606,694)

(12,800)

(15,848) 14,027 (527,935)

(8,236)

—

—

7,641

(484,119)

(876,011)

5,595 3,000

—

1,045 6,776

33,418 (191,368) (32,955) 30,000 31,198 250,358

(56,901) (33,605) 65,504 7,200 243,279

(63,789) (374,231) 5,662 229,000 —

(552,764) (3,978,398) (1,076,707)

(328) 1,556,148

(328) (2,955) (6,846)

(2,318) (2,220)

(854)

(16,106) (152,589)

—

(359,773)

338,121 (345,000) (5,024) 20,902

— —

— —

(8,271)

(41,549)

220

139

(2,690,700) (1,664,193) (2,949,401)

(50,156)

—

(99,975)

9,251,217

15,234,860

13,312,301

(10,076,809) (12,955,275) (12,427,699)

(3,562,315) 1,993,940

(2,576,086)

(477,677) 1,011,613

342,240 669,373

155,038

514,335 CASH AND CASH EQUIVALENTS, end of period . . . . . . . . . . . . . . . . . . . . . . $ 533,936 $ 1,011,613 $ 669,373 The accompanying notes are an integral part of these statements.

94