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EX-99.2 - EXHIBIT 99.2 - SIMON PROPERTY GROUP INC /DE/a2198270zex-99_2.htm
EX-99.1 - EXHIBIT 99.1 - SIMON PROPERTY GROUP INC /DE/a2198270zex-99_1.htm

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 30, 2010

GRAPHIC

SIMON PROPERTY GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware   001-14469   046268599
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

 

 

 

 
225 WEST WASHINGTON STREET
INDIANAPOLIS, INDIANA
(Address of principal executive offices)
  46204
(Zip Code)

Registrant's telephone number, including area code: 317.636.1600

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))


Table of Contents

Item 2.02.    Results of Operations and Financial Condition

        On April 30, 2010, Simon Property Group, Inc. (the "Registrant") issued a press release containing information on earnings for the quarter ended March 31, 2010 and other matters. A copy of the press release is attached hereto as Exhibit 99.2 and the information in the press release is incorporated by reference into this report.

        The press release and Supplemental Information package attached as Exhibit 99.1 use the non-GAAP financial measure of Funds from Operations ("FFO"). The Supplemental Information package also uses the non-GAAP measure of Net Operating Income ("NOI"). The Registrant considers FFO and NOI key measures of its operating performance that are not specifically defined by accounting principles generally accepted in the United States ("GAAP"). The Registrant believes that FFO and NOI are helpful to investors because they are widely recognized measures of the performance of real estate investment trusts ("REITs") and provide relevant bases for comparison among REITs. The Registrant also uses FFO and NOI internally to measure the operating performance of its portfolio. Reconciliations of net income to FFO on an estimated and historical basis are provided on pages 56 and 64 furnished herewith in Exhibit 99.2. Reconciliations of net income to NOI on a historical basis are provided on page 14 furnished herewith in Exhibit 99.1.

        The Registrant is furnishing the information contained herein, including Exhibit 99.2, pursuant to Item 2.02 of Form 8-K promulgated by the Securities and Exchange Commission (the "SEC"). This information shall not be deemed to be "filed" with the SEC or incorporated by reference into any other filing with the SEC.

Item 7.01.    Regulation FD Disclosure

        On April 30, 2010, the Registrant made available additional ownership and operational information concerning the Registrant, Simon Property Group, L.P., and properties owned or managed as of March 31, 2010 in the form of a Supplemental Information package, a copy of which is attached as Exhibit 99.1. The Supplemental Information package is also available upon request as specified therein.

        The Registrant is furnishing the information contained herein, including Exhibit 99.1, pursuant to Item 7.01 of Form 8-K promulgated by the SEC. This information shall not be deemed to be "filed" with the SEC or incorporated by reference into any other filing with the SEC.

Item 9.01.    Financial Statements and Exhibits

        Financial Statements:

      None

        Exhibits:

Exhibit No.   Description   Page Number in
This Filing
 
  99.1   Supplemental Information as of March 31, 2010     5  
  99.2   Earnings Release for the quarter ended March 31, 2010     53  

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Table of Contents


SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: April 30, 2010

    SIMON PROPERTY GROUP, INC.

 

 

By:

 

/s/ STEPHEN E. STERRETT

Stephen E. Sterrett,
Executive Vice President and
Chief Financial Officer

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Table of Contents


SIMON PROPERTY GROUP
Table of Contents
As of March 31, 2010

Description
   
  Page

 

 

 

 

 

Exhibit 99.1

 

Supplemental Information

  5

 

Company Overview

   

 

Overview (reporting calendar, stock information, and corporate ratings)

  5 - 6

 

Ownership Structure

  7

 

Changes in Company Common Share and Operating Partnership Unit Ownership

  8

 

Financial Data

   

 

Selected Financial and Equity Information

  9-10

 

Unaudited Pro-Rata Statement of Operations

  12

 

Unaudited Pro-Rata Balance Sheet

  13

 

Reconciliation of Net Income to NOI

  14

 

NOI Composition

  15

 

Analysis of Other Income and Other Expense

  16

 

Operational Data

   

 

U.S. Portfolio GLA

  17

 

U.S. Operational Information

  18

 

U.S. Lease Expirations

  19

 

U.S. Top Tenants

  20

 

Other U.S. Operational Information

  21

 

International Operational Information

  22

 

Property Listing

  23-33

 

Development Activity

   

 

U.S. Regional Mall Anchor/Big Box Openings, 2010

  34

 

Capital Expenditures

  35

 

U.S. Development Activity Report

  36

 

International Development Activity Report

  37

 

Balance Sheet Information

   

 

The Company's Share of Total Debt Amortization and Maturities by Year

  38

 

Summary of Indebtedness

  39

 

Summary of Indebtedness by Maturity

  40-47

 

Unencumbered Assets

  48-51

 

Preferred Stock/Units Outstanding

  52

 

Quarterly Earnings Announcement

   

Exhibit 99.2

 

Press Release

  53-65

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SIGNATURES
SIMON PROPERTY GROUP Table of Contents As of March 31, 2010