UNITED STATES
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): December 10, 2012
SIMON PROPERTY GROUP, L.P.
(Exact name of registrant as specified in its charter)
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Delaware |
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333-11491 |
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34-1755769 |
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(State or other jurisdiction |
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(Commission |
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(IRS Employer |
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of incorporation) |
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File Number) |
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Identification No.) |
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225 WEST WASHINGTON STREET |
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INDIANAPOLIS, INDIANA |
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46204 |
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(Address of principal executive offices) |
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(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 8.01 Other Events.
Simon Property Group, L.P. is filing as Exhibit 12.1 to this Current Report on Form 8-K a Statement Regarding Computation of Ratios, which includes the calculation of its historical ratios of earnings to fixed charges for 2011, 2010, 2009, 2008 and 2007 and the nine months ended September 30, 2012 and 2011. The ratio calculations for the years and the period prior to September 30, 2012 have been revised to conform to the most recent period presentation.
ITEM 9.01 Financial Statements and Exhibits.
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Exhibit No. |
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Description |
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Exhibit 12.1 |
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Statement Regarding Computation of Ratios |
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.
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Date: December 10, 2012 |
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SIMON PROPERTY GROUP, L.P. | ||
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By: |
Simon Property Group, Inc., the sole General Partner | |
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By: |
/s/ Steven K. Broadwater |
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Steven K. Broadwater |
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Senior Vice President and |
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Chief Accounting Officer |
Exhibit 12.1
Simon Property Group, L.P. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
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For the nine months ended |
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September 30, |
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For the year ended December 31, |
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2012 |
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2011 |
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2011 |
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2010 |
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2009 |
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2008 |
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2007 |
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Earnings: |
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Pre-tax income from continuing operations |
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1,350,922 |
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806,675 |
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$ |
1,249,483 |
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$ |
755,248 |
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$ |
382,042 |
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$ |
603,141 |
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$ |
663,283 |
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Add: |
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Distributions from unconsolidated entities |
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114,508 |
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69,651 |
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112,977 |
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109,050 |
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105,318 |
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118,665 |
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101,998 |
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Amortization of capitalized interest |
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3,436 |
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2,852 |
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3,961 |
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3,085 |
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3,897 |
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4,494 |
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2,073 |
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Fixed Charges |
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863,357 |
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750,386 |
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1,003,093 |
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1,395,163 |
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1,015,437 |
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1,004,100 |
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990,517 |
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Less: |
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Income from unconsolidated entities |
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(87,368 |
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(57,353 |
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(255,058 |
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(88,057 |
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(32,617 |
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(32,246 |
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(128,752 |
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Minority interest in pre-tax (income) loss of subsidiaries that have not incurred fixed charges |
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(1,271 |
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(749 |
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(1,249 |
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(1,066 |
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3,993 |
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(1,636 |
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(1,464 |
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Interest capitalization |
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(17,633 |
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(3,250 |
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(5,815 |
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(3,715 |
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(14,502 |
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(27,847 |
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(35,793 |
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Earnings |
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$ |
2,225,951 |
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$ |
1,568,212 |
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$ |
2,107,392 |
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$ |
2,169,708 |
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$ |
1,463,568 |
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$ |
1,668,671 |
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$ |
1,591,862 |
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Fixed Charges: |
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Portion of rents representative of the interest factor |
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10,192 |
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10,118 |
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13,752 |
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13,669 |
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8,870 |
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8,783 |
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8,872 |
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Interest on indebtedness (including amortization of debt expense) |
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835,532 |
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737,018 |
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983,526 |
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1,027,091 |
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992,065 |
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947,140 |
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945,852 |
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Interest capitalized |
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17,633 |
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3,250 |
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5,815 |
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3,715 |
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14,502 |
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27,847 |
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35,793 |
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Loss on extinguishment of debt |
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0 |
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0 |
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0 |
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350,688 |
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0 |
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20,330 |
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0 |
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Fixed Charges |
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$ |
863,357 |
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$ |
750,386 |
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$ |
1,003,093 |
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$ |
1,395,163 |
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$ |
1,015,437 |
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$ |
1,004,100 |
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$ |
990,517 |
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Ratio of Earnings to Fixed Charges |
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2.58x |
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2.09x |
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2.10x |
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1.56x |
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1.44x |
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1.66x |
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1.61x |
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