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):  October 30, 2006

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

 

46204

(Address of principal executive offices)

 

(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 Operation and Financial Condition

On October 30, 2006, Simon Property Group, Inc. (the “Registrant”) issued a press release containing information on earnings for the quarter ended September 30, 2006 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 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 FFO to net income on an estimated and historical basis are provided on page 73 furnished herewith in Exhibit 99.2. Reconciliations of net income to NOI on an estimated and 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 October 30, 2006, the Registrant made available additional ownership and operational information concerning the Registrant, Simon Property Group, L.P., and properties owned or managed as of September 30, 2006, 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:

 

 

 

Page Number in

Exhibit No.

 

Description

 

This Filing

99.1

 

Supplemental Information as of September 30, 2006

 

5

99.2

 

Earnings Release for the quarter ended September 30, 2006

 

62

 

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: October 30, 2006

 

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 September 30, 2006

Description

 

 

 

 

 

Page

Exhibit 99.1

 

Supplemental Information

 

 

 

 

Company Overview

 

 

 

 

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

 

5-6

 

 

 

Ownership Structure

 

7

 

 

 

Changes in Common Shares and Unit Ownership

 

8

 

 

 

Financial Data

 

 

 

 

 

Selected Financial and Equity Information

 

9

 

 

 

Unaudited Pro-Rata Statement of Operations

 

11-12

 

 

 

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. Regional Mall Operational Information

 

18

 

 

 

U.S. Regional Mall Lease Expirations

 

19

 

 

 

U.S. Regional Mall Top Tenants

 

20

 

 

 

U.S. Regional Mall Anchor/Big Box Openings, 2006-2010

 

21-23

 

 

 

U.S. Regional Mall Property Listing

 

24-28

 

 

 

U.S. Premium Outlet Centers® Operational Information

 

29

 

 

 

U.S. Premium Outlet Centers® Lease Expirations

 

30

 

 

 

U.S. Premium Outlet Centers® Top Tenants

 

31

 

 

 

U.S. Premium Outlet Centers® Property Listing

 

32

 

 

 

U.S. Community/Lifestyle Centers Operational Information

 

33

 

 

 

U.S. Community/Lifestyle Centers Lease Expirations

 

34

 

 

 

U.S. Community/Lifestyle Centers Top Tenants

 

35

 

 

 

U.S. Community/Lifestyle Centers Property Listing

 

36-37

 

 

 

International Operational Information

 

38

 

 

 

International Property Listing

 

39-41

 

 

 

Development Activity

 

 

 

 

 

Capital Expenditures in the U.S. Portfolio

 

42

 

 

 

U.S. Development Activity Report

 

43-45

 

 

 

International Development Activity Report

 

46

 

 

 

Balance Sheet Information

 

 

 

 

 

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

 

47

 

 

 

Summary of Indebtedness

 

48

 

 

 

Summary of Indebtedness by Maturity

 

49-55

 

 

 

Unencumbered Assets

 

56-60

 

 

 

Preferred Stock/Units Outstanding

 

61

 

 

 

Quarterly Earnings Announcement

 

 

 

Exhibit 99.2

 

Press Release

 

62-74

 

 

 

4