Simon Property Group
Q3 2022 Earnings Call
Nov 01, 2022, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Greetings, and welcome to the Simon Property Group third-quarter 2022 earnings conference call. [Operator instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Tom Ward. Thank you.
Mr. Ward, you may begin.
Tom Ward -- Senior Vice President, Investor Relations
Thank you, Erin, and thank you all for joining us this morning. Presenting on today's call is David Simon, chairman, chief executive officer and president. Also on the call are Brian McDade, chief financial officer; and Adam Reuille, chief accounting officer. A quick reminder that statements made during this call may be deemed forward-looking statements within the meaning of the safe harbor of the Private Securities Litigation Reform Act of 1995, and actual results may differ materially due to a variety of risks, uncertainties, and other factors.
We refer you to today's press release and our SEC filings for a detailed discussion of the risk factors relating to those forward-looking statements. Please note that this call includes information that may be accurate only as of today's date. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included within the press release and the supplemental information in today's Form 8-K filing. Both the press release and the supplemental information are available on our IR website at investors.simon.com.
Our conference call this morning will be limited to one hour. For those who would like to participate in the question-and-answer session, we ask that you please respect our request to limit yourself to one question. I'm pleased to introduce David Simon.
David Simon -- Chairman, President, and Chief Executive Officer
Good morning, and I'm pleased to report our third quarter results. Third quarter funds from operations were $1.1 billion or $2.97 per share prior to a noncash unrealized loss of $0.04 and from a mark-to-market in fair value of publicly held securities. Let me walk you through some of the variances for the quarter compared to Q3 2021. Our domestic operations had a very good quarter.
We contributed $0.05 of growth driven by higher rental income. Our international operations posted strong results in the quarter and increased $0.05 despite the negative currency impact of $0.05, given the strength in the dollar. These positive contributions were partially offset by an $0.11 lower contribution from our other platform investments, which reflects costs associated with the JCPenney launch of new beauty brands, Reebok integration cost, and some softening of sales compared to 2021 from our 2 value-oriented brands. Domestic property net operating income increased 2.3% for the quarter and 4.4% for the first nine months of the year.