Simon Property Group
Q2 2022 Earnings Call
Aug 01, 2022, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Greetings. Welcome to the Simon Property Group second quarter 2022 earnings conference call. [Operator instructions]. I will now turn the conference over to your host, Tom Ward, senior vice president of investor relations.
You may begin.
Tom Ward -- Senior Vice President, Investor Relations
Thank you, Kyle, and thank you, everyone, for joining us this evening. 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 evening will be limited to one hour.
[Operator instructions]. I'm pleased to introduce David Simon.
David Simon -- Chairman, Chief Executive Officer, and President
Thank you. Please to report our second quarter results. Second quarter funds from operations were $1.1 billion or $2.96 per share prior to a noncash unrealized loss of $0.05 from a mark-to-market and fair value of publicly held securities. Let me walk you through the big variances for this quarter compared to Q2 of 2021.
Our domestic operations had an excellent quarter and contributed $0.13 of growth driven by higher rental income of $0.09, strong performance in Simon Brand Ventures and short-term leasing of $0.05. TRG contributed $0.04 of growth, and they were partially offset by higher operating costs of approximately $0.05. Our international operations posted strong results in the quarter and increased $0.10. Lower interest rate -- interest expense contributed $0.03, and these $0.26 of positive contributions were partially offset by the headwind from a strong U.S.