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EX-99.2 - EX-99.2 - SIMON PROPERTY GROUP INC /DE/a2201720zex-99_2.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): February 4, 2011

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))


Item 2.02.    Results of Operations and Financial Condition

        On February 4, 2011, Simon Property Group, Inc. (the "Registrant") issued a press release containing information on earnings for the quarter ended December 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 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 February 4, 2011, the Registrant made available additional ownership and operational information concerning the Registrant, Simon Property Group, L.P., and properties owned or managed as of December 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.

        This report contains measures of financial or operating performance that are not specifically defined by accounting principles generally accepted in the United States ("GAAP"), including funds from operations ("FFO"), FFO as adjusted, diluted FFO per share, diluted FFO per share as adjusted, and net operating income ("NOI"). FFO and NOI are performance measures that are standard in the REIT business. We believe FFO and NOI provide investors with additional information concerning our operating performance and a basis to compare our performance with those of other REITs. We also use these measures internally to monitor the operating performance of our portfolio. FFO as adjusted, and diluted FFO per share as adjusted measures exclude the effect of certain non-cash impairment and debt-related charges. We believe these measures provide investors with a basis to compare our current operating performance with previous periods in which we did not have those charges. Our computation of these non-GAAP measures may not be the same as similar measures reported by other REITs.

        The non-GAAP financial measures used in this report should not be considered as alternatives to net income as a measure of our operating performance or to cash flows computed in accordance with GAAP as a measure of liquidity nor are they indicative of cash flows from operating and financial activities.

        Reconciliations of each of the non-GAAP measures used in this report to the most-directly comparable GAAP measure are included.

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 December 31, 2010     5  

 

 

 

99.2

 

Earnings Release for the quarter ended December 31, 2010

 

 

60-70

 

2



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: February 4, 2011

    SIMON PROPERTY GROUP, INC.

 

 

By:

 

/s/ STEPHEN E. STERRETT

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

3



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

Description
   
  Page  

Exhibit 99.1

 

Supplemental Information

    5  

 

Company Overview

       

 

Overview (reporting calendar, stock information and credit 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 Statements of Operations

    12-13  

 

Unaudited Pro-Rata Balance Sheet

    14  

 

NOI Composition

    15  

 

Analysis of Other Income and Other Expense

    16  

 

Reconciliation of Non-GAAP Financial Measures

    17-19  

 

Operational Data

       

 

U.S. Portfolio GLA

    20  

 

U.S. Operational Information

    21  

 

U.S. Lease Expirations

    22  

 

U.S. Top Tenants

    23  

 

Other U.S. Operational Information

    24  

 

International Operational Information

    25  

 

Property Listing

    26-37  

 

Development Activity

       

 

U.S. Anchor/Big Box Openings, 2010-2012

    38-39  

 

Capital Expenditures

    40  

 

U.S. Development Activity Report

    41  

 

International Development Activity Report

    42  

 

Balance Sheet Information

       

 

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

    43  

 

Summary of Indebtedness

    44  

 

Summary of Indebtedness by Maturity

    45-53  

 

Unencumbered Assets

    54-58  

 

Preferred Stock/Units Outstanding

    59  

 

Quarterly Earnings Announcement

       

Exhibit 99.2

 

Press Release

   
60-70
 

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