Simon Property 10-Q 7 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014
Document and Entity Information	'
Entity Registrant Name	'SIMON PROPERTY GROUP L P /DE/
Entity Central Index Key	'0001022344
Document Type	'10-Q
Document Period End Date	31-Mar-14
Amendment Flag	'false
Current Fiscal Year End Date	'--12-31
Entity Current Reporting Status	'Yes
Entity Filer Category	'Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q1

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS:	'	'
Investment properties at cost	$35,598,458	$35,126,344
Less - accumulated depreciation	10,309,988	10,067,743
Investment properties, net	25,288,470	25,058,601
Cash and cash equivalents	1,013,368	1,716,863
Tenant receivables and accrued revenue, net	530,479	581,482
Investment in unconsolidated entities, at equity	2,347,523	2,433,399
Investment in Klepierre, at equity	2,010,771	2,014,415
Deferred costs and other assets	1,564,988	1,519,814
Total assets	32,755,599	33,324,574
LIABILITIES:	'	'
Mortgages and unsecured indebtedness	23,186,610	23,588,531
Accounts payable, accrued expenses, intangibles, and deferred revenues	1,259,452	1,374,113
Cash distributions and losses in partnerships and joint ventures, at equity	1,139,034	1,091,591
Other liabilities	198,610	257,222
Total liabilities	25,783,706	26,311,457
Commitments and contingencies	'	'
Preferred units, at liquidation value, and noncontrolling redeemable interests in properties	107,612	190,485
Partners' Equity	'	'
Preferred units, 796,948 units outstanding. Liquidation value of $39,847	44,308	44,390
General Partner, 310,658,536 and 310,608,565 units outstanding, respectively	5,829,985	5,805,016
Limited Partners, 52,822,430 and 51,846,157 units outstanding, respectively	991,294	968,962
Total partners' equity	6,865,587	6,818,368
Nonredeemable noncontrolling (deficit) interests in properties, net	-1,306	4,264
Total equity	6,864,281	6,822,632
Total liabilities and equity	$32,755,599	$33,324,574

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Consolidated Balance Sheets	'	'
Preferred units, units outstanding	796,948	796,948
Preferred units, Liquidation value (in dollars)	$39,847	$39,847
General Partner, units outstanding	310,658,536	310,608,565
Limited Partners, units outstanding	52,822,430	51,846,157

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
REVENUE:	'	'
Minimum rent	$828,920	$777,907
Overage rent	33,784	37,699
Tenant reimbursements	372,639	338,969
Management fees and other revenues	30,607	29,729
Other income	49,041	30,754
Total revenue	1,314,991	1,215,058
EXPENSES:	'	'
Property operating	121,087	109,910
Depreciation and amortization	326,461	316,633
Real estate taxes	114,252	109,705
Repairs and maintenance	36,916	29,725
Advertising and promotion	24,571	21,259
Provision for credit losses	5,209	2,734
Home and regional office costs	35,288	34,894
General and administrative	14,855	14,509
Other	20,480	18,000
Total operating expenses	699,119	657,369
OPERATING INCOME	615,872	557,689
Interest expense	-268,151	-285,026
Income and other taxes	-6,938	-13,193
Income from unconsolidated entities	57,423	54,231
Gain upon acquisition of controlling interests and sale or disposal of assets and interests in unconsolidated entities, net	2,897	20,767
CONSOLIDATED NET INCOME	401,103	334,468
Net income attributable to noncontrolling interests	523	2,461
Preferred unit requirements	1,313	1,313
NET INCOME ATTRIBUTABLE TO UNITHOLDERS	399,267	330,694
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:	'	'
General Partner	341,648	283,138
Limited Partners	57,619	47,556
Net income attributable to unitholders	399,267	330,694
BASIC EARNINGS PER UNIT	'	'
Net income attributable to unitholders (in dollars per unit)	$1.10	$0.91
DILUTED EARNINGS PER UNIT	'	'
Net income attributable to unitholders (in dollars per unit)	$1.10	$0.91
Consolidated net income	401,103	334,468
Unrealized (loss) gain on derivative hedge agreements	-7,533	7,070
Net loss reclassified from accumulated other comprehensive income into earnings	2,697	1,511
Currency translation adjustments	13,733	1,048
Changes in available-for-sale securities and other	479	-184
Comprehensive income	410,479	343,913
Comprehensive income attributable to noncontrolling interests	523	2,461
Comprehensive income attributable to unitholders	$409,956	$341,452

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Consolidated Net Income	$401,103	$334,468
Adjustments to reconcile consolidated net income to net cash provided by operating activities -	'	'
Depreciation and amortization	330,562	321,974
Gain upon acquisition of controlling interests and sale or disposal of assets and interests in unconsolidated entities, net	-2,897	-20,767
Straight-line rent	-11,779	-10,596
Equity in income of unconsolidated entities	-57,423	-54,231
Distributions of income from unconsolidated entities	51,636	43,247
Changes in assets and liabilities -	'	'
Tenant receivables and accrued revenue, net	63,058	77,923
Deferred costs and other assets	-12,005	-22,212
Accounts payable, accrued expenses, intangibles, deferred revenues and other liabilities	-100,804	-119,293
Net cash provided by operating activities	661,451	550,513
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Acquisitions	-85,459	-51,564
Funding of loans to related parties	-13,367	-18,399
Capital expenditures, net	-207,655	-199,906
Cash impact from the consolidation of properties	5,402	'
Net proceeds from sale of assets	'	73,209
Investments in unconsolidated entities	-45,861	-15,669
Purchase of marketable and non-marketable securities	-5,211	'
Proceeds from sale of marketable and non-marketable securities	'	1,376
Distributions of capital from unconsolidated entities	124,676	198,726
Net cash used in investing activities	-227,475	-12,227
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Issuance of units	-82	121
Purchase of noncontrolling interest in consolidated properties	-89,818	'
Distributions to noncontrolling interest holders in properties	-12,751	-2,046
Partnership distributions	-455,281	-417,619
Mortgage and unsecured indebtedness proceeds, net of transaction costs	1,810,496	642,698
Mortgage and unsecured indebtedness principal payments	-2,390,035	-1,115,992
Net cash used in financing activities	-1,137,471	-892,838
DECREASE IN CASH AND CASH EQUIVALENTS	-703,495	-354,552
CASH AND CASH EQUIVALENTS, beginning of period	1,716,863	1,184,518
CASH AND CASH EQUIVALENTS, end of period	$1,013,368	$829,966

Organization

Organization	3 Months Ended
	Mar. 31, 2014
Organization	'
Organization	'
	1. Organization
	Simon Property Group, L.P. is a Delaware limited partnership and the majority-owned subsidiary of Simon Property Group, Inc. In these condensed notes to the unaudited consolidated financial statements, the terms "Operating Partnership", "we", "us" and "our" refer to Simon Property Group, L.P. and its subsidiaries and the term "Simon Property" refers specifically to Simon Property Group, Inc. (NYSE: SPG). Simon Property, a Delaware corporation, is a self-administered and self-managed real estate investment trust, or REIT, under the Internal Revenue Code of 1986, as amended. REITs will generally not be liable for federal corporate income taxes as long as they continue to distribute not less than 100% of their taxable income. According to our partnership agreement, we are required to pay all expenses of Simon Property.
	We own, develop and manage retail real estate properties, which consist primarily of malls, Premium Outlets®, The Mills®, and community/lifestyle centers. As of March 31, 2014, we owned or held an interest in 307 income-producing properties in the United States, which consisted of 156 malls, 66 Premium Outlets, 61 community/lifestyle centers, 13 Mills, and 11 other shopping centers or outlet centers in 38 states and Puerto Rico. Internationally, as of March 31, 2014, we had ownership interests in nine Premium Outlets in Japan, three Premium Outlets in South Korea, one Premium Outlet in Canada, one Premium Outlet in Mexico, and one Premium Outlet in Malaysia. In 2013, as further discussed in Note 5, we acquired noncontrolling interests in five operating properties in Europe through our joint venture with McArthurGlen. Of the five properties, two are located in Italy and one each is located in Austria, the Netherlands, and the United Kingdom. Additionally, as of March 31, 2014, we owned a 28.9% equity stake in Klépierre SA, or Klépierre, a publicly traded, Paris-based real estate company, which owns, or has an interest in, shopping centers located in 13 countries in Europe.
	On December 13, 2013, we announced a plan to spin off our interests in 98 properties comprised of substantially all of our strip center business and our smaller enclosed malls into an independent, publicly traded REIT (Washington Prime Group Inc., or Washington Prime). The spin-off is expected to be effectuated through a pro rata special distribution of all of the outstanding common shares of Washington Prime to holders of Simon Property common stock as of the distribution record date, and is intended to qualify as a tax-free distribution for U.S. federal income tax purposes. At the time of the separation and distribution, Washington Prime will own a percentage of the outstanding units of partnership interest of Washington Prime Group, L.P. that is approximately equal to the percentage of outstanding units of partnership interest of the Operating Partnership, or units, owned by Simon Property. The remaining units of Washington Prime Group. L.P. will be owned by limited partners of the Operating Partnership. We expect the transaction will become effective by the end of May 2014. The transaction is subject to certain conditions, including declaration by the U.S. Securities and Exchange Commission that Washington Prime's registration statement on Form 10 is effective, filing and approval of Washington Prime's listing application on the New York Stock Exchange, customary third party consents, and formal approval and declaration of the distribution by our Board of Directors, not all of which have occurred prior to the date of this filing. We may, at any time and for any reason until the proposed transaction is complete, abandon the spin-off or modify or change its terms.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Basis of Presentation	'
Basis of Presentation	'
	2. Basis of Presentation
	The accompanying unaudited consolidated financial statements include the accounts of all controlled subsidiaries, and all significant intercompany amounts have been eliminated. Due to the seasonal nature of certain operational activities, the results for the interim period ended March 31, 2014, are not necessarily indicative of the results to be expected for the full year.
	These consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and include all of the information and disclosures required by accounting principles generally accepted in the United States (GAAP) for interim reporting. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments necessary for fair presentation (including normal recurring accruals) have been included. The consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes contained in our 2013 Annual Report on Form 10-K.
	As of March 31, 2014, we consolidated 221 wholly-owned properties and 15 additional properties that are less than wholly-owned, but which we control or for which we are the primary beneficiary. We account for the remaining 91 properties, or the joint venture properties, as well as our investment in Klépierre, using the equity method of accounting, as we have determined we have significant influence over their operations. We manage the day-to-day operations of 68 of the 91 joint venture properties, but have determined that our partner or partners have substantive participating rights with respect to the assets and operations of these joint venture properties. Our investments in joint ventures in Japan, South Korea, Canada, Mexico, Malaysia, and the five properties through our joint venture with McArthurGlen comprise 20 of the remaining 23 properties. The international properties are managed locally by joint ventures in which we share control of the properties.
	We allocate our net operating results after preferred distributions based on our partners' respective weighted average ownership. Simon Property owns a majority of our units and certain series of our preferred units of partnership interest, or preferred units, which have terms comparable to outstanding shares of Simon Property preferred stock. Simon Property's weighted average ownership interest in us was 85.6% for the three months ended March 31, 2014 and 2013. As of March 31, 2014 and December 31, 2013, Simon Property's ownership interest in us was 85.5% and 85.7%, respectively. We adjust the noncontrolling limited partners' interests at the end of each period to reflect their respective interests in us.
	Preferred unit requirements in the accompanying consolidated statements of operations and comprehensive income represent distributions on outstanding preferred units held by limited partners and are recorded when declared.
	Reclassifications
	We made certain reclassifications of prior period amounts in the consolidated financial statements to conform to the 2014 presentation. These reclassifications had no impact on previously reported net income attributable to unitholders or earnings per unit.

Significant_Accounting_Policie

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Significant Accounting Policies	'
Significant Accounting Policies	'
	3. Significant Accounting Policies
	Cash and Cash Equivalents
	We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash and cash equivalents. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents generally consist of commercial paper, bankers' acceptances, Eurodollars, repurchase agreements, and money market deposits or securities. Financial instruments that potentially subject us to concentrations of credit risk include our cash and cash equivalents and our trade accounts receivable. We place our cash and cash equivalents with institutions with high credit quality. However, at certain times, such cash and cash equivalents are in excess of FDIC and SIPC insurance limits.
	Marketable and Non-Marketable Securities
	Marketable securities consist primarily of the investments of our captive insurance subsidiaries, available-for-sale securities, our deferred compensation plan investments, and certain investments held to fund the debt service requirements of debt previously secured by investment properties.
	The types of securities included in the investment portfolio of our captive insurance subsidiaries typically include U.S. Treasury or other U.S. government securities as well as corporate debt securities with maturities ranging from less than 1 to 10 years. These securities are classified as available-for-sale and are valued based upon quoted market prices or other observable inputs when quoted market prices are not available. The amortized cost of debt securities, which approximates fair value, held by our captive insurance subsidiaries is adjusted for amortization of premiums and accretion of discounts to maturity. Changes in the values of these securities are recognized in accumulated other comprehensive income (loss) until the gain or loss is realized or until any unrealized loss is deemed to be other-than-temporary. We review any declines in value of these securities for other-than-temporary impairment and consider the severity and duration of any decline in value. To the extent an other-than-temporary impairment is deemed to have occurred, an impairment charge is recorded and a new cost basis is established. Subsequent changes are then recognized through other comprehensive income (loss) unless another other-than-temporary impairment is deemed to have occurred. Net unrealized gains recorded in other comprehensive income (loss) as of March 31, 2014 and December 31, 2013 were approximately $1.6 million and $1.1 million, respectively, and represent the valuation and related currency adjustments for our marketable securities.
	Our insurance subsidiaries are required to maintain statutory minimum capital and surplus as well as maintain a minimum liquidity ratio. Therefore, our access to these securities may be limited. Our deferred compensation plan investments are classified as trading securities and are valued based upon quoted market prices. The investments have a matching liability as the amounts are fully payable to the employees that earned the compensation. Changes in value of these securities and changes to the matching liability to employees are both recognized in earnings and, as a result, there is no impact to consolidated net income.
	At March 31, 2014 and December 31, 2013, we had investments of $118.8 million in non-marketable securities that we account for under the cost method. We regularly evaluate these investments for any other-than-temporary impairment in their estimated fair value and determined that no adjustment in the carrying value was required.
	Fair Value Measurements
	Level 1 fair value inputs are quoted prices for identical items in active, liquid and visible markets such as stock exchanges. Level 2 fair value inputs are observable information for similar items in active or inactive markets, and appropriately consider counterparty creditworthiness in the valuations. Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an asset or liability at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate. We have no investments for which fair value is measured on a recurring basis using Level 3 inputs.
	We held marketable securities that totaled $152.7 million and $148.3 million at March 31, 2014 and December 31, 2013, respectively, that were primarily classified as having Level 1 fair value inputs. In addition, we have derivative instruments which are classified as having Level 2 inputs which consist primarily of interest rate swap agreements and foreign currency forward contracts with a gross liability balance of $1.0 million and $1.2 million at March 31, 2014 and December 31, 2013, respectively, and a gross asset value of $4.6 million and $8.4 million at March 31, 2014 and December 31, 2013, respectively. We also have interest rate cap agreements with nominal values.
	Note 6 includes a discussion of the fair value of debt measured using Level 2 inputs. Notes 5 and 9 include discussion of the fair values recorded in purchase accounting and impairment, using Level 2 and Level 3 inputs. Level 3 inputs to our purchase accounting and impairment include our estimations of net operating results of the property, capitalization rates and discount rates.
	Noncontrolling Interests and Temporary Equity
	In addition to noncontrolling redeemable interests in properties, we classify our 7.5% Cumulative Redeemable Preferred Units, or 7.5% preferred units, in temporary equity. Although we may redeem the 7.5% preferred units for cash or shares of Simon Property common stock, we could be required to redeem the securities for cash because the non-cash redemption alternative requires us to deliver fully registered shares of Simon Property common stock which we may not be able to deliver depending upon the circumstances that exist at the time of redemption. The previous and current carrying amounts are equal to the liquidation value, which is the amount payable upon the occurrence of any event that could potentially result in cash settlement.
	Our evaluation of the appropriateness of classifying the units held by Simon Property and limited partners within permanent equity considered several significant factors. First, as a limited partnership, all decisions relating to our operations and distributions are made by Simon Property, acting as our sole general partner. The decisions of the general partner are made by Simon Property's Board of Directors or management. We have no other governance structure. Secondly, the sole asset of Simon Property is its interest in us. As a result, a share of Simon Property common stock (if owned by us) is best characterized as being similar to a treasury share and thus not an asset of the Operating Partnership.
	Limited partners have the right under our partnership agreement to exchange their units for shares of Simon Property common stock or cash as selected by the general partner. Accordingly, we classify units held by limited partners in permanent equity because Simon Property has the ability to issue shares of its common stock to limited partners exercising their exchange rights rather than using cash or other assets. Under our partnership agreement, we are required to redeem units held by Simon Property only when Simon Property has redeemed shares of its common stock. We classify units held by Simon Property in permanent equity because the decision to redeem those units would be made by Simon Property.
	The remaining interests in a property or portfolio of properties which are redeemable at the option of the holder or in circumstances that may be outside our control, are accounted for as temporary equity within preferred units, at liquidation value, and noncontrolling redeemable interests in properties in the accompanying consolidated balance sheets. The carrying amount of the noncontrolling interest is adjusted to the redemption amount assuming the instrument is redeemable at the balance sheet date. Changes in the redemption value of the underlying noncontrolling interest are recorded within accumulated deficit. There are no noncontrolling interests redeemable at amounts in excess of fair value. As discussed in Note 9, on January 10, 2014, we acquired one of our partner's redeemable interests in a portfolio of properties, which accounted for substantially all of the reduction in the balance of preferred units, at liquidation value, and noncontrolling redeemable interests in properties during the quarter ended March 31, 2014.
	Net income attributable to noncontrolling interests (which includes nonredeemable and redeemable noncontrolling interests in consolidated properties) is a component of consolidated net income. During the three months ended March 31, 2014 and 2013, no individual components of other comprehensive income (loss) were attributable to noncontrolling interests.
	A rollforward of noncontrolling interests reflected in equity is as follows:
		For the Three
		Months Ended
		March 31,
		2014			2013
	Noncontrolling nonredeemable (deficit) interests in properties, net — beginning of period	$	4,264		$	(877	)
	Net Income attributable to noncontrolling nonredeemable interests		31			3
	Distributions to noncontrolling nonredeemable interestholders		(11,731	)		(59	)
	Purchase and disposition of noncontrolling interests, net, and other		6,130			2
	Noncontrolling nonredeemable (deficit) interests in properties, net — end of period	$	(1,306	)	$	(931	)
	Accumulated Other Comprehensive Income (Loss)
	The changes in accumulated other comprehensive income (loss) by component consisted of the following as of March 31, 2014:
		Currency			Accumulated			Net unrealized		Total
		translation			derivative			gains on
		adjustments			losses, net			marketable
								securities
	Beginning balance	$	(27,755	)	$	(61,833	)	$	1,134	$	(88,454	)
	Other comprehensive income (loss) before reclassifications		13,733			(7,533	)		479		6,679
	Amounts reclassified from accumulated other comprehensive income (loss)		—			2,697			—		2,697
	Net current-period other comprehensive income (loss)		13,733			(4,836	)		479		9,376
	Ending balance	$	(14,022	)	$	(66,669	)	$	1,613	$	(79,078	)
	The reclassifications out of accumulated other comprehensive income (loss) consisted of the following as of March 31, 2014 and 2013:
		March 31, 2014			March 31, 2013
	Details about accumulated other	Amount reclassified			Amount reclassified			Affected line item in the
	comprehensive income (loss) components:	from accumulated			from accumulated			statement where net
		other comprehensive			other comprehensive			income is presented
		income (loss)			income (loss)
	Accumulated derivative losses, net
		$	(2,697	)	$	(1,511	)	Interest expense
		$	(2,697	)	$	(1,511	)
	Derivative Financial Instruments
	We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have designated a derivative as a hedge and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We may use a variety of derivative financial instruments in the normal course of business to selectively manage or hedge a portion of the risks associated with our indebtedness and interest payments. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps and caps. We require that hedging derivative instruments be highly effective in reducing the risk exposure that they are designated to hedge. As a result, there is no significant ineffectiveness from any of our derivative activities. We formally designate any instrument that meets these hedging criteria as a hedge at the inception of the derivative contract. We have no credit-risk-related hedging or derivative activities.
	As of March 31, 2014, we had the following outstanding interest rate derivatives related to managing our interest rate risk:
	Interest Rate Derivative	Number of		Notional
		Instruments		Amount
	Interest Rate Swaps	1		$91.1 million
	Interest Rate Caps	5		$247.2 million
	The carrying value of our interest rate swaps, at fair value, is a liability balance of $0.2 million as of March 31, 2014 and is included in other liabilities. The carrying value of our interest rate swap agreements, at fair value, as of December 31, 2013, was a net asset balance of $3.0 million, of which $0.4 million was included in other liabilities and $3.4 million was included in deferred costs and other assets. The interest rate caps were of nominal value at March 31, 2014 and December 31, 2013 and we generally do not apply hedge accounting to these arrangements.
	We are also exposed to fluctuations in foreign exchange rates on financial instruments which are denominated in foreign currencies, primarily in Japan and Europe. We use currency forward contracts and foreign currency denominated debt to manage our exposure to changes in foreign exchange rates on certain Yen and Euro-denominated receivables and net investments. Currency forward contracts involve fixing the Yen:USD or Euro:USD exchange rate for delivery of a specified amount of foreign currency on a specified date. The currency forward contracts are typically cash settled in US dollars for their fair value at or close to their settlement date. Approximately ¥1.5 billion remains as of March 31, 2014 for all forward contracts that we expect to receive through January 5, 2015. The March 31, 2014 asset balance related to these forward contracts was $4.6 million and is included in deferred costs and other assets. We have reported the changes in fair value for these forward contracts in earnings. The underlying currency adjustments on the foreign currency denominated receivables are also reported in income and generally offset the amounts in earnings for these forward contracts.
	In the fourth quarter of 2013, we entered into a Euro:USD forward contract with a €74.0 million notional value maturing on May 30, 2014 which we designated as a net investment hedge. The March 31, 2014 and December 31, 2013 liability balance related to this forward contract was $0.8 million and is included in other liabilities. We apply hedge accounting and the change in fair value for this forward contract is reported in other comprehensive income. Changes in the value of this forward contract are offset by changes in the underlying hedged Euro-denominated joint venture investment.
	The total gross accumulated other comprehensive loss related to our derivative activities, including our share of the other comprehensive loss from joint venture properties, approximated $66.7 million and $61.8 million as of March 31, 2014 and December 31, 2013, respectively.
	New Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." ASU No. 2014-08 changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results. ASU No. 2014-08 is effective prospectively for fiscal years beginning after December 15, 2014, but can be early-adopted. We have early adopted ASU No. 2014-08 and will apply the revised definition to all disposals on a prospective basis. ASU 2014-08 also requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation.

Per_Unit_Data

Per Unit Data	3 Months Ended
	Mar. 31, 2014
Per Unit Data	'
Per Unit Data	'
	4. Per Unit Data
	We determine basic earnings per unit based on the weighted average number of units outstanding during the period and we consider any participating securities for purposes of applying the two-class method. We determine diluted earnings per unit based on the weighted average number of units outstanding combined with the incremental weighted average units that would have been outstanding assuming all potentially dilutive securities were converted into units at the earliest date possible. The following table sets forth the computation of our basic and diluted earnings per unit.
		For the Three Months Ended
		March 31,
		2014		2013
	Net Income attributable to Unitholders — Basic & Diluted	$	399,267	$	330,694
	Weighted Average Units Outstanding — Basic		363,008,959		362,051,682
	Effect of stock options of Simon Property		—		203
	Weighted Average Units Outstanding — Diluted		363,008,959		362,051,885
	For the three months ended March 31, 2014, potentially dilutive securities include long-term incentive performance units, or LTIP units. No securities had a dilutive effect for the three months ended March 31, 2014. The only security that had a dilutive effect for the three months ended March 31, 2013 were stock options of Simon Property. We accrue distributions when they are declared.

Investment_in_Unconsolidated_E

Investment in Unconsolidated Entities	3 Months Ended
	Mar. 31, 2014
Investment in Unconsolidated Entities	'
Investment in Unconsolidated Entities	'
	5. Investment in Unconsolidated Entities
	Real Estate Joint Ventures and Investments
	Joint ventures are common in the real estate industry. We use joint ventures to finance properties, develop new properties and diversify our risk in a particular property or portfolio of properties. We held joint venture ownership interests in 71 properties in the United States as of March 31, 2014 and 73 properties as of December 31, 2013. We held interests in nine joint venture properties in Japan as of March 31, 2014 and December 31, 2013. We held interests in three joint venture properties in South Korea as of March 31, 2014 and December 31, 2013. At March 31, 2014 and December 31, 2013, we also held interests in one joint venture property in Mexico, one joint venture property in Malaysia, and one joint venture property in Canada. Also in 2013, as discussed below, we acquired noncontrolling interests in five operating properties in Europe through our joint venture with McArthurGlen. We account for these joint venture properties using the equity method of accounting.
	Certain of our joint venture properties are subject to various rights of first refusal, buy-sell provisions, put and call rights, or other sale or marketing rights for partners which are customary in real estate joint venture agreements and the industry. We and our partners in these joint ventures may initiate these provisions (subject to any applicable lock up or similar restrictions), which may result in either the sale of our interest or the use of available cash or borrowings or units to acquire the joint venture interest from our partner.
	We may provide financing to joint ventures primarily in the form of interest bearing construction loans. As of March 31, 2014 and December 31, 2013, we had construction loans and other advances to related parties totaling $153.7 million and $140.3 million, respectively, which are included in deferred costs and other assets.
	Unconsolidated Property Transactions
	On January 30, 2014, as discussed in Note 9, we acquired the remaining 50% interest in Arizona Mills from our joint venture partner. The consolidation of this previously unconsolidated property resulted in a remeasurement of our previously held interest to fair value and a corresponding non-cash gain of $2.7 million in the first quarter of 2014. As a result of this acquisition, we now own 100% of this property.
	European Investments
	At March 31, 2014, we owned 57,634,148 shares, or approximately 28.9%, of Klépierre, which had a quoted market price of $44.67 per share. Our share of net income, net of amortization of our excess investment, was $4.8 million and $9.5 million for the three months ended March 31, 2014 and 2013, respectively. Based on applicable Euro:USD exchange rates and after our conversion of Klépierre's results to GAAP, Klépierre's total revenues, operating income and consolidated net income were approximately $367.3 million, $166.7 million and $52.9 million, respectively, for the three months ended March 31, 2014 and $364.8 million, $157.4 million and $44.3 million, respectively, for the three months ended March 31, 2013. On April 16, 2014, Klépierre completed the disposal of a portfolio of Carrefour-anchored retail galleries located in France, Spain and Italy. Total gross consideration for the transaction, including transfer duties, was €1.98 billion (€1.65 billion Klépierre's group share). The net cash proceeds will be used by Klépierre to reduce its overall indebtedness.
	During the second quarter of 2013, we signed a definitive agreement with McArthurGlen, an owner, developer, and manager of designer outlets, to form one or more joint ventures to invest in certain existing designer outlets, development projects, and its property management and development companies. In conjunction with that agreement, we purchased a noncontrolling interest in the property management and development companies of McArthurGlen and a noncontrolling interest in a development property located in Vancouver, British Colombia. On August 2, 2013 we acquired a noncontrolling interest in Ashford Designer Outlets in Kent, UK. On October 16, 2013 we completed the remaining transactions contemplated by our previously announced definitive agreement with McArthurGlen by acquiring noncontrolling interests in portions of four existing McArthurGlen Designer Outlets — Parndorf (Vienna, Austria), La Reggia (Naples, Italy), Noventa di Piave (Venice, Italy), and Roermond (Roermond, Netherlands). At March 31, 2014, our legal ownership interests in these entities range from 22.5% to 90%. Subsequent to the quarter ended March 31, 2014, we purchased additional noncontrolling interests in Ashford Designer Outlets, bringing our legal ownership interest in this entity to 45%. The aggregate consideration for the 2013 transactions, which is subject to further adjustment based upon contractual obligations and customary purchase price adjustments, was approximately $496.7 million. The carrying amount of our investment in these joint ventures, including all related components of accumulated other comprehensive income (loss) as well as subsequent capital contributions for development, was $516.7 million and $510.7 million as of March 31, 2014 and December 31, 2013, respectively. Substantially all of our investment has been deemed excess investment and has been preliminarily allocated to the underlying investment property based on estimated fair values. The preliminary allocations are subject to revision within the measurement period, not to exceed one year from the date of the acquisitions.
	We also have a minority interest in Value Retail PLC, which owns and operates nine luxury outlets throughout Europe and a direct minority ownership in three of those outlets. These investments are accounted for under the cost method. At March 31, 2014 and December 31, 2013, the carrying value of these investments was $115.4 million and is included in deferred costs and other assets.
	Asian Joint Ventures
	We conduct our international Premium Outlet operations in Japan through a joint venture with Mitsubishi Estate Co., Ltd. We have a 40% ownership interest in this joint venture. The carrying amount of our investment in this joint venture was $265.3 million and $261.1 million as of March 31, 2014 and December 31, 2013, respectively; including all related components of accumulated other comprehensive income (loss). We conduct our international Premium Outlet operations in South Korea through a joint venture with Shinsegae International Co. We have a 50% ownership interest in this joint venture. The carrying amount of our investment in this joint venture was $91.3 million and $76.4 million as of March 31, 2014 and December 31, 2013, respectively; including all related components of accumulated other comprehensive income (loss).
	Summary Financial Information
	A summary of our equity method investments and share of income from such investments, excluding Klépierre, follows.
	BALANCE SHEETS
		March 31,			December 31,
		2014			2013
	Assets:
	Investment properties, at cost	$	16,019,083		$	15,824,689
	Less - accumulated depreciation		5,339,813			5,294,578
			10,679,270			10,530,111
	Cash and cash equivalents		747,103			792,751
	Tenant receivables and accrued revenue, net		287,777			310,320
	Investment in unconsolidated entities, at equity		28,832			38,352
	Deferred costs and other assets		520,058			586,622
	Total assets	$	12,263,040		$	12,258,156
	Liabilities and Partners' Deficit:
	Mortgages	$	13,013,998		$	13,024,257
	Accounts payable, accrued expenses, intangibles, and deferred revenue		977,038			849,107
	Other liabilities		542,950			514,822
	Total liabilities		14,533,986			14,388,186
	Preferred units		67,450			67,450
	Partners' deficit		(2,338,396	)		(2,197,480	)
	Total liabilities and partners' deficit	$	12,263,040		$	12,258,156
	Our Share of:
	Partners' deficit	$	(763,064	)	$	(717,776	)
	Add: Excess Investment		1,971,553			2,059,584
	Our net Investment in unconsolidated entities, at equity	$	1,208,489		$	1,341,808
	"Excess Investment" represents the unamortized difference of our investment over our share of the equity in the underlying net assets of the joint ventures or other investments acquired and is allocated on a fair value basis primarily to investment property, lease related intangibles, and debt premiums and discounts. We amortize excess investment over the life of the related depreciable components of investment property, typically no greater than 40 years, the terms of the applicable leases and the applicable debt maturity, respectively. The amortization is included in the reported amount of income from unconsolidated entities.
	STATEMENTS OF OPERATIONS
		For the Three Months Ended March 31,
		2014			2013
	Minimum rent	$	436,519		$	394,153
	Overage rent		48,932			47,767
	Tenant reimbursements		197,452			184,399
	Other income		112,908			42,074
	Total revenue		795,811			668,393
	Property operating		164,150			115,869
	Depreciation and amortization		156,077			127,686
	Real estate taxes		56,812			54,706
	Repairs and maintenance		20,614			16,164
	Advertising and promotion		19,088			15,921
	Provision for credit losses		3,230			1,245
	Other		53,060			35,682
	Total operating expenses		473,031			367,273
	Operating Income		322,780			301,120
	Interest expense		(155,199	)		(147,486	)
	Income from Continuing Operations		167,581			153,634
	Loss from operations of discontinued joint venture interests		—			(320	)
	Net Income	$	167,581		$	153,314
	Third-Party Investors' Share of Net Income	$	89,313		$	83,766
	Our Share of Net Income		78,268			69,548
Amortization of Excess Investment		(25,598	)		(24,829	)
Income from Unconsolidated Entities	$	52,670		$	44,719
Our share of income from unconsolidated entities in the above table, aggregated with our share of the results of Klépierre, is presented in income from unconsolidated entities in the accompanying consolidated statements of operations and comprehensive income.

Debt

Debt	3 Months Ended
	Mar. 31, 2014
Debt	'
Debt	'
	6. Debt
	Unsecured Debt
	At March 31, 2014, our unsecured debt consisted of $14.4 billion of senior unsecured notes, net of discounts, $657.4 million outstanding under our $4.0 billion unsecured revolving credit facility, or Credit Facility, $216.4 million outstanding under our $2.0 billion supplemental unsecured revolving credit facility, or Supplemental Facility, and $240.0 million outstanding under an unsecured term loan. At March 31, 2014, the Credit Facility had a capacity of $4.0 billion including a $2.0 billion multi-currency tranche, an initial maturity of October 30, 2015, an interest rate of LIBOR plus 95 basis points and an additional facility fee of 15 basis points. In addition, the Credit Facility provides for a money-market competitive bid option program that allows us to hold auctions to achieve lower pricing for short term borrowings. The entire balance on the Credit Facility at March 31, 2014 consisted of Euro-denominated borrowings and the entire balance on the Supplemental Facility on such date consisted of Yen-denominated borrowings, both of which are designated as net investment hedges of our international investments.
	On March 31, 2014, we had an aggregate available borrowing capacity of $5.1 billion under the two credit facilities. The maximum outstanding balance of the credit facilities during the three months ended March 31, 2014 was $1.2 billion and the weighted average outstanding balance was $973.2 million. Letters of credit of $41.7 million were outstanding under the two credit facilities as of March 31, 2014.
	On April 7, 2014, we amended and extended the Credit Facility. The initial borrowing capacity of $4.0 billion can now be increased to $5.0 billion during its term and provides for borrowings denominated in U.S. Dollars, Euros, Yen, Sterling, Canadian Dollars and Australian Dollars. Borrowings in currencies other than the U.S. Dollar are limited to 75% of the maximum revolving credit amount, as defined. The initial maturity date was extended to June 30, 2018 and can be extended for an additional year at our sole option. The base interest rate on the amended Credit Facility was reduced to LIBOR plus 80 basis points with the additional facility fee reduced to 10 basis points.
	The Supplemental Facility's borrowing capacity of $2.0 billion can be increased at our sole option to $2.5 billion during its term. The Supplemental Facility will initially mature on June 30, 2016 and can be extended for an additional year at our sole option. As of March 31, 2014, the base interest rate on the Supplemental Facility was LIBOR plus 95 basis points with an additional facility fee of 15 basis points. Like the Credit Facility, the Supplemental Facility provides for a money market competitive bid option program and allows for multi-currency borrowings.
	On January 21, 2014, we issued $600.0 million of senior unsecured notes at a fixed interest rate of 2.20% with a maturity date of February 1, 2019 and $600.0 million of senior unsecured notes at a fixed interest rate of 3.75% with a maturity date of February 1, 2024. Proceeds from the unsecured notes offering were used to repay debt and for general corporate purposes.
	During the three months ended March 31, 2014, we used cash on hand to redeem at par or repay at maturity $716.1 million of senior unsecured notes with fixed rates ranging from 4.9% to 6.75%.
	Mortgage Debt
	Total mortgage indebtedness was $7.6 billion and $8.2 billion at March 31, 2014 and December 31, 2013, respectively. During the three months ended March 31, 2014, we added $370.0 million in new mortgage loans on six previously unencumbered properties which are expected to be part of the Washington Prime portfolio with a weighted average interest rate of 4.60%.
	On January 2, 2014, we repaid the $820.0 million outstanding mortgage at Sawgrass Mills originally maturing July 1, 2014 and on February 28, 2014, we repaid the $269.0 million outstanding mortgage at Great Mall originally maturing August 28, 2015.
	Covenants
	Our unsecured debt agreements contain financial and other covenants. If we were to fail to comply with these covenants, after the expiration of the applicable cure periods, the debt maturity could be accelerated or other remedies could be sought by the lender including adjustments to the applicable interest rate. As of March 31, 2014, we were in compliance with all covenants of our unsecured debt.
	At March 31, 2014, we or our subsidiaries are the borrowers under 66 non-recourse mortgage notes secured by mortgages on 85 properties, including eight separate pools of cross-defaulted and cross-collateralized mortgages encumbering a total of 29 properties. Under these cross-default provisions, a default under any mortgage included in the cross-defaulted pool may constitute a default under all mortgages within that pool and may lead to acceleration of the indebtedness due on each property within the pool. Certain of our secured debt instruments contain financial and other non-financial covenants which are specific to the properties which serve as collateral for that debt. If the borrower fails to comply with these covenants, the lender could accelerate the debt and enforce its right against their collateral. At March 31, 2014, the applicable borrowers under these non-recourse mortgage notes were in compliance with all covenants where non-compliance could individually, or giving effect to applicable cross-default provisions in the aggregate, have a material adverse effect on our financial condition, results of operations or cash flows.
	Fair Value of Debt
	The carrying value of our variable-rate mortgages and other loans approximates their fair values. We estimate the fair values of consolidated fixed-rate mortgages using cash flows discounted at current borrowing rates and other indebtedness using cash flows discounted at current market rates. We estimate the fair values of consolidated fixed-rate unsecured notes using quoted market prices, or, if no quoted market prices are available, we use quoted market prices for securities with similar terms and maturities. The book value of our consolidated fixed-rate mortgages and unsecured indebtedness was $21.7 billion and $21.8 billion as of March 31, 2014 and December 31, 2013, respectively. The fair values of these financial instruments and the related discount rate assumptions as of March 31, 2014 and December 31, 2013 are summarized as follows:
		March 31,	December 31,
		2014	2013
	Fair value of fixed-rate mortgages and unsecured indebtedness	$23,433	$23,297
	Weighted average discount rates assumed in calculation of fair value for fixed-rate mortgages	3.35%	3.07%

Equity

Equity	3 Months Ended
	Mar. 31, 2014
Equity	'
Equity	'
	7. Equity
	During the three months ended March 31, 2014, one limited partner exchanged 48,725 units for an equal number of shares of common stock of Simon Property pursuant to our partnership agreement. This transaction increased Simon Property's ownership interest in us.
	On January 30, 2014, we issued 555,150 units in connection with the acquisition of the remaining 50% interest in Arizona Mills and approximately 39 acres of land in Oyster Bay, New York, as discussed in Footnote 9.
	Stock Based Compensation
	Awards under our stock based compensation plans primarily take the form of LTIP units and restricted stock grants made under our 1998 Stock Incentive Plan, or the Plan. Restricted stock and awards under the LTIP programs are all performance based and are based on various corporate and business unit performance measures as further described below. The expense related to these programs, net of amounts capitalized, is included within home and regional office costs and general and administrative costs in the accompanying statements of operations and comprehensive income.
	LTIP Programs.    Every year since 2010, Simon Property's Compensation Committee of the Board of Directors, or Compensation Committee, has approved long-term, performance based incentive compensation programs, or the LTIP programs, for certain senior executive officers. Awards under the LTIP programs take the form of LTIP units, a form of limited partnership interest issued by us, and will be considered earned if, and only to the extent to which, applicable total shareholder return, or TSR, performance measures are achieved during the performance period. Once earned, LTIP units are subject to a two year vesting period. One-half of the earned LTIP units will vest on January 1 of each of the 2nd and 3rd years following the end of the applicable performance period, subject to the participant maintaining employment with us through those dates and certain other conditions as described in those agreements. Awarded LTIP units not earned are forfeited. Earned and fully vested LTIP units are the equivalent of units. During the performance period, participants are entitled to receive distributions on the LTIP units awarded to them equal to 10% of the regular quarterly distributions paid on a unit. As a result, we account for these LTIP units as participating securities under the two-class method of computing earnings per unit.
	From 2010 to 2014, the Compensation Committee approved LTIP grants as shown in the table below. Grant date fair values of the LTIP units are estimated using a Monte Carlo model, and the resulting expense is recorded regardless of whether the TSR performance measures are achieved if the required service is delivered. The grant date fair values are being amortized into expense over the period from the grant date to the date at which the awards, if any, would become vested. The extent to which LTIP units that were earned and the aggregate grant date fair values adjusted for estimated forfeitures, are as set forth as follows:
	LTIP Program	LTIP Units Earned		Grant Date Fair Value
	2010 LTIP Program
	1-year 2010 LTIP Program	133,673		1-year program — $7.2 million
	2-year 2010 LTIP Program	337,006		2-year program — $14.8 million
	3-year 2010 LTIP Program	489,654		3-year program — $23.0 million
	2011-2013 LTIP Program	469,848		$35.0 million
	2012-2014 LTIP Program	To be determined in 2015		$35.0 million
	2013-2015 LTIP Program	To be determined in 2016		$33.5 million
	2014-2016 LTIP Program	To be determined in 2017		$30.0 million
	We recorded compensation expense, net of capitalization, related to these LTIP programs of approximately $11.2 million and $10.2 million for the three months ended March 31, 2014 and 2013, respectively.
	Restricted Stock.    The Compensation Committee awarded 1,246 shares of Simon Property restricted stock to employees on February 26, 2014 under the Plan, at a fair market value of $161.06 per share. The fair market value of the restricted stock is being recognized as expense over the three-year vesting service period. In accordance with our partnership agreement, we issued an equal number of units to Simon Property that are subject to the same vesting conditions as the restricted stock.
	We recorded compensation expense, net of capitalization, related to restricted stock of approximately $2.6 million and $3.0 million for the three months ended March 31, 2014 and 2013, respectively.
	Other Compensation Arrangements.    On July 6, 2011, in connection with the execution of an eight-year employment agreement, the Compensation Committee granted David Simon, our Chairman and CEO, a retention award in the form of 1,000,000 LTIP units (the "Award") for his continued service as our Chairman and Chief Executive Officer through July 5, 2019. Effective December 31, 2013, the Award was modified ("Current Award") and as a result the LTIP units will now become earned and eligible to vest based on the attainment of Company-based performance goals, in addition to the service-based vesting requirement included in the original Award. If the relevant performance criteria are not achieved, all or a portion of the Current Award will be forfeited. The Current Award does not contain an opportunity for Mr. Simon to receive additional LTIP Units above and beyond the original Award should our performance exceed the higher end of the performance criteria. The performance criteria of the Current Award are based on the attainment of specific funds from operations ("FFO") per share. If the performance criteria have been met, a maximum of 360,000 LTIP units ("A Units"), 360,000 LTIP units ("B Units") and 280,000 LTIP units ("C Units") may become earned December 31, 2015, 2016 and 2017, respectively. The earned A Units will vest on January 1, 2018, earned B Units will vest on January 1, 2019 and earned C Units will vest on June 30, 2019, subject to continued employment through such applicable date. The grant date fair value of the retention award of $120.3 million is being recognized as expense over the eight-year term of his employment agreement on a straight-line basis based through the applicable vesting periods of the A Units, B Units and C Units.
	Changes in Equity
	The following table provides a reconciliation of the beginning and ending carrying amounts of total equity, equity attributable to partners and equity attributable to noncontrolling interests:
		Preferred Units			Simon Property			Limited			Noncontrolling			Total Equity
					(Managing			Partners			interests
					General
					Partner)
	January 1, 2014	$	44,390		$	5,805,016		$	968,962		$	4,264		$	6,822,632
	Issuance of limited partner units								84,910						84,910
	Limited partner units exchanged to units					911			(911	)					—
	Purchase and disposition of noncontrolling interests, net											6,130			6,130
	Other		(82	)		(12,550	)		20,266						7,634
	Adjustment to limited partners' interest from change in ownership in the Operating Partnership					75,007			(75,007	)					—
	Distributions to limited partners, excluding preferred interests classified as temporary equity		(834	)		(388,263	)		(65,705	)		(11,731	)		(466,533	)
	Comprehensive income, excluding $479 attributable to preferred distributions on temporary equity preferred units and $492 attributable to noncontrolling redeemable interests in properties in temporary equity		834			349,864			58,779			31			409,508
	March 31, 2014	$	44,308		$	5,829,985		$	991,294		$	(1,306	)	$	6,864,281

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies	'
Commitments and Contingencies	'
	8. Commitments and Contingencies
	Litigation
	We are involved from time-to-time in various legal proceedings that arise in the ordinary course of our business, including, but not limited to commercial disputes, environmental matters, and litigation in connection with transactions including acquisitions and divestitures. We believe that such litigation, claims and administrative proceedings will not have a material adverse impact on our financial position or our results of operations. We record a liability when a loss is considered probable and the amount can be reasonably estimated.
	In May 2010, Opry Mills sustained significant flood damage. Insurance proceeds of $50 million have been funded by the insurers, remediation work has been completed. The property was re-opened March 29, 2012. The excess insurance carriers (those providing coverage above $50 million) have denied our claim under the policy for additional proceeds (of up to $150 million) to pay further amounts for restoration costs and business interruption losses. We and our lenders are continuing our efforts through pending litigation to recover our losses under the excess insurance policies for Opry Mills and we believe recovery is probable, but no assurances can be made that our efforts to recover these funds will be successful.
	Guarantees of Indebtedness
	Joint venture debt is the liability of the joint venture and is typically secured by the joint venture property, which is non-recourse to us. As of March 31, 2014 and December 31, 2013, we guaranteed joint venture related mortgage indebtedness of $201.2 million and $190.8 million, respectively (of which we have a right of recovery from our venture partners of $84.8 million and $83.0 million, respectively). Mortgages guaranteed by us are secured by the property of the joint venture which could be sold in order to satisfy the outstanding obligation and which has an estimated fair value in excess of the guaranteed amount.
	Concentration of Credit Risk
	Our malls, Premium Outlets, The Mills, and community/lifestyle centers rely heavily upon anchor tenants to attract customers; however anchor retailers do not contribute materially to our financial results as many anchor retailers own their spaces. All material operations are within the United States and no customer or tenant accounts for 5% or more of our consolidated revenues.

Real_Estate_Acquisitions_and_D

Real Estate Acquisitions and Dispositions	3 Months Ended
	Mar. 31, 2014
Real Estate Acquisitions and Dispositions	'
Real Estate Acquisitions and Dispositions	'
	9. Real Estate Acquisitions and Dispositions
	During the first three months of 2014, we disposed of our interest in one unconsolidated retail property. Our share of the net gain on this disposal was $0.2 million.
	On January 30, 2014, we acquired the remaining 50% interest in Arizona Mills from our joint venture partner, as well as approximately 39 acres of land in Oyster Bay, New York, for approximately $145.8 million, consisting of cash consideration and 555,150 of our units. Arizona Mills is subject to a mortgage which was $166.9 million at the time of the acquisition. The consolidation of this previously unconsolidated property resulted in a remeasurement of our previously held interest to fair value and a corresponding non-cash gain of $2.7 million in the first quarter of 2014. We now own 100% of this property.
	On January 10, 2014, we acquired one of our partner's redeemable interests in a portfolio of ten properties for approximately $114.4 million subject to a pre-existing contractual arrangement. The amount paid to acquire the interests in the seven properties which were previously consolidated was included in preferred units, at liquidation value, and noncontrolling redeemable interests in properties at December 31, 2013.
	During the first quarter of 2013, we acquired rights to the remaining interests in three unconsolidated community centers and subsequently disposed our interests in those properties. Additionally, we disposed of our interest in another community center. The aggregate gain recognized on these transactions was approximately $20.8 million.
	During 2013, as further discussed in Note 5, we acquired noncontrolling interests in the property management and development companies of McArthurGlen as well as interests in five designer outlet properties.
	On May 30, 2013 we acquired a 100% interest in a 390,000 square foot outlet center located near Portland, Oregon for cash consideration of $146.7 million. The fair value of the acquisition was recorded primarily as investment property and lease related intangibles. As a result of the excess of fair value over amounts paid, we recognized a gain of approximately $27.3 million.
	Unless otherwise noted, gains and losses on the above transactions are included in gain upon acquisition of controlling interests and sale or disposal of assets and interests in unconsolidated entities, net in the accompanying consolidated statements of operations and comprehensive income. We expense acquisition and potential acquisition costs related to business combinations and disposition related costs as they are incurred. We incurred a minimal amount of transaction expenses during the three months ended March 31, 2014 and 2013.

Summary_of_Significant_Account

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Significant Accounting Policies	'
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	We consider all highly liquid investments purchased with an original maturity of 90 days or less to be cash and cash equivalents. Cash equivalents are carried at cost, which approximates fair value. Cash equivalents generally consist of commercial paper, bankers' acceptances, Eurodollars, repurchase agreements, and money market deposits or securities. Financial instruments that potentially subject us to concentrations of credit risk include our cash and cash equivalents and our trade accounts receivable. We place our cash and cash equivalents with institutions with high credit quality. However, at certain times, such cash and cash equivalents are in excess of FDIC and SIPC insurance limits.
Marketable and Non-Marketable Securities	'
	Marketable and Non-Marketable Securities
	Marketable securities consist primarily of the investments of our captive insurance subsidiaries, available-for-sale securities, our deferred compensation plan investments, and certain investments held to fund the debt service requirements of debt previously secured by investment properties.
	The types of securities included in the investment portfolio of our captive insurance subsidiaries typically include U.S. Treasury or other U.S. government securities as well as corporate debt securities with maturities ranging from less than 1 to 10 years. These securities are classified as available-for-sale and are valued based upon quoted market prices or other observable inputs when quoted market prices are not available. The amortized cost of debt securities, which approximates fair value, held by our captive insurance subsidiaries is adjusted for amortization of premiums and accretion of discounts to maturity. Changes in the values of these securities are recognized in accumulated other comprehensive income (loss) until the gain or loss is realized or until any unrealized loss is deemed to be other-than-temporary. We review any declines in value of these securities for other-than-temporary impairment and consider the severity and duration of any decline in value. To the extent an other-than-temporary impairment is deemed to have occurred, an impairment charge is recorded and a new cost basis is established. Subsequent changes are then recognized through other comprehensive income (loss) unless another other-than-temporary impairment is deemed to have occurred. Net unrealized gains recorded in other comprehensive income (loss) as of March 31, 2014 and December 31, 2013 were approximately $1.6 million and $1.1 million, respectively, and represent the valuation and related currency adjustments for our marketable securities.
	Our insurance subsidiaries are required to maintain statutory minimum capital and surplus as well as maintain a minimum liquidity ratio. Therefore, our access to these securities may be limited. Our deferred compensation plan investments are classified as trading securities and are valued based upon quoted market prices. The investments have a matching liability as the amounts are fully payable to the employees that earned the compensation. Changes in value of these securities and changes to the matching liability to employees are both recognized in earnings and, as a result, there is no impact to consolidated net income.
	At March 31, 2014 and December 31, 2013, we had investments of $118.8 million in non-marketable securities that we account for under the cost method. We regularly evaluate these investments for any other-than-temporary impairment in their estimated fair value and determined that no adjustment in the carrying value was required.
Fair Value Measurements	'
	Fair Value Measurements
	Level 1 fair value inputs are quoted prices for identical items in active, liquid and visible markets such as stock exchanges. Level 2 fair value inputs are observable information for similar items in active or inactive markets, and appropriately consider counterparty creditworthiness in the valuations. Level 3 fair value inputs reflect our best estimate of inputs and assumptions market participants would use in pricing an asset or liability at the measurement date. The inputs are unobservable in the market and significant to the valuation estimate. We have no investments for which fair value is measured on a recurring basis using Level 3 inputs.
	We held marketable securities that totaled $152.7 million and $148.3 million at March 31, 2014 and December 31, 2013, respectively, that were primarily classified as having Level 1 fair value inputs. In addition, we have derivative instruments which are classified as having Level 2 inputs which consist primarily of interest rate swap agreements and foreign currency forward contracts with a gross liability balance of $1.0 million and $1.2 million at March 31, 2014 and December 31, 2013, respectively, and a gross asset value of $4.6 million and $8.4 million at March 31, 2014 and December 31, 2013, respectively. We also have interest rate cap agreements with nominal values.
	Note 6 includes a discussion of the fair value of debt measured using Level 2 inputs. Notes 5 and 9 include discussion of the fair values recorded in purchase accounting and impairment, using Level 2 and Level 3 inputs. Level 3 inputs to our purchase accounting and impairment include our estimations of net operating results of the property, capitalization rates and discount rates.
Noncontrolling Interests and Temporary Equity	'
	Noncontrolling Interests and Temporary Equity
	In addition to noncontrolling redeemable interests in properties, we classify our 7.5% Cumulative Redeemable Preferred Units, or 7.5% preferred units, in temporary equity. Although we may redeem the 7.5% preferred units for cash or shares of Simon Property common stock, we could be required to redeem the securities for cash because the non-cash redemption alternative requires us to deliver fully registered shares of Simon Property common stock which we may not be able to deliver depending upon the circumstances that exist at the time of redemption. The previous and current carrying amounts are equal to the liquidation value, which is the amount payable upon the occurrence of any event that could potentially result in cash settlement.
	Our evaluation of the appropriateness of classifying the units held by Simon Property and limited partners within permanent equity considered several significant factors. First, as a limited partnership, all decisions relating to our operations and distributions are made by Simon Property, acting as our sole general partner. The decisions of the general partner are made by Simon Property's Board of Directors or management. We have no other governance structure. Secondly, the sole asset of Simon Property is its interest in us. As a result, a share of Simon Property common stock (if owned by us) is best characterized as being similar to a treasury share and thus not an asset of the Operating Partnership.
	Limited partners have the right under our partnership agreement to exchange their units for shares of Simon Property common stock or cash as selected by the general partner. Accordingly, we classify units held by limited partners in permanent equity because Simon Property has the ability to issue shares of its common stock to limited partners exercising their exchange rights rather than using cash or other assets. Under our partnership agreement, we are required to redeem units held by Simon Property only when Simon Property has redeemed shares of its common stock. We classify units held by Simon Property in permanent equity because the decision to redeem those units would be made by Simon Property.
	The remaining interests in a property or portfolio of properties which are redeemable at the option of the holder or in circumstances that may be outside our control, are accounted for as temporary equity within preferred units, at liquidation value, and noncontrolling redeemable interests in properties in the accompanying consolidated balance sheets. The carrying amount of the noncontrolling interest is adjusted to the redemption amount assuming the instrument is redeemable at the balance sheet date. Changes in the redemption value of the underlying noncontrolling interest are recorded within accumulated deficit. There are no noncontrolling interests redeemable at amounts in excess of fair value. As discussed in Note 9, on January 10, 2014, we acquired one of our partner's redeemable interests in a portfolio of properties, which accounted for substantially all of the reduction in the balance of preferred units, at liquidation value, and noncontrolling redeemable interests in properties during the quarter ended March 31, 2014.
	Net income attributable to noncontrolling interests (which includes nonredeemable and redeemable noncontrolling interests in consolidated properties) is a component of consolidated net income. During the three months ended March 31, 2014 and 2013, no individual components of other comprehensive income (loss) were attributable to noncontrolling interests.
	A rollforward of noncontrolling interests reflected in equity is as follows:
		For the Three
		Months Ended
		March 31,
		2014			2013
	Noncontrolling nonredeemable (deficit) interests in properties, net — beginning of period	$	4,264		$	(877	)
	Net Income attributable to noncontrolling nonredeemable interests		31			3
	Distributions to noncontrolling nonredeemable interestholders		(11,731	)		(59	)
	Purchase and disposition of noncontrolling interests, net, and other		6,130			2
	Noncontrolling nonredeemable (deficit) interests in properties, net — end of period	$	(1,306	)	$	(931	)
Accumulated Other Comprehensive Income (Loss)	'
	Accumulated Other Comprehensive Income (Loss)
	The changes in accumulated other comprehensive income (loss) by component consisted of the following as of March 31, 2014:
		Currency			Accumulated			Net unrealized		Total
		translation			derivative			gains on
		adjustments			losses, net			marketable
								securities
	Beginning balance	$	(27,755	)	$	(61,833	)	$	1,134	$	(88,454	)
	Other comprehensive income (loss) before reclassifications		13,733			(7,533	)		479		6,679
	Amounts reclassified from accumulated other comprehensive income (loss)		—			2,697			—		2,697
	Net current-period other comprehensive income (loss)		13,733			(4,836	)		479		9,376
	Ending balance	$	(14,022	)	$	(66,669	)	$	1,613	$	(79,078	)
	The reclassifications out of accumulated other comprehensive income (loss) consisted of the following as of March 31, 2014 and 2013:
		March 31, 2014			March 31, 2013
	Details about accumulated other	Amount reclassified			Amount reclassified			Affected line item in the
	comprehensive income (loss) components:	from accumulated			from accumulated			statement where net
		other comprehensive			other comprehensive			income is presented
		income (loss)			income (loss)
	Accumulated derivative losses, net
		$	(2,697	)	$	(1,511	)	Interest expense
		$	(2,697	)	$	(1,511	)
Derivative Financial Instruments	'
	Derivative Financial Instruments
	We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have designated a derivative as a hedge and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We may use a variety of derivative financial instruments in the normal course of business to selectively manage or hedge a portion of the risks associated with our indebtedness and interest payments. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps and caps. We require that hedging derivative instruments be highly effective in reducing the risk exposure that they are designated to hedge. As a result, there is no significant ineffectiveness from any of our derivative activities. We formally designate any instrument that meets these hedging criteria as a hedge at the inception of the derivative contract. We have no credit-risk-related hedging or derivative activities.
	As of March 31, 2014, we had the following outstanding interest rate derivatives related to managing our interest rate risk:
	Interest Rate Derivative	Number of		Notional
		Instruments		Amount
	Interest Rate Swaps	1		$91.1 million
	Interest Rate Caps	5		$247.2 million
	The carrying value of our interest rate swaps, at fair value, is a liability balance of $0.2 million as of March 31, 2014 and is included in other liabilities. The carrying value of our interest rate swap agreements, at fair value, as of December 31, 2013, was a net asset balance of $3.0 million, of which $0.4 million was included in other liabilities and $3.4 million was included in deferred costs and other assets. The interest rate caps were of nominal value at March 31, 2014 and December 31, 2013 and we generally do not apply hedge accounting to these arrangements.
	We are also exposed to fluctuations in foreign exchange rates on financial instruments which are denominated in foreign currencies, primarily in Japan and Europe. We use currency forward contracts and foreign currency denominated debt to manage our exposure to changes in foreign exchange rates on certain Yen and Euro-denominated receivables and net investments. Currency forward contracts involve fixing the Yen:USD or Euro:USD exchange rate for delivery of a specified amount of foreign currency on a specified date. The currency forward contracts are typically cash settled in US dollars for their fair value at or close to their settlement date. Approximately ¥1.5 billion remains as of March 31, 2014 for all forward contracts that we expect to receive through January 5, 2015. The March 31, 2014 asset balance related to these forward contracts was $4.6 million and is included in deferred costs and other assets. We have reported the changes in fair value for these forward contracts in earnings. The underlying currency adjustments on the foreign currency denominated receivables are also reported in income and generally offset the amounts in earnings for these forward contracts.
	In the fourth quarter of 2013, we entered into a Euro:USD forward contract with a €74.0 million notional value maturing on May 30, 2014 which we designated as a net investment hedge. The March 31, 2014 and December 31, 2013 liability balance related to this forward contract was $0.8 million and is included in other liabilities. We apply hedge accounting and the change in fair value for this forward contract is reported in other comprehensive income. Changes in the value of this forward contract are offset by changes in the underlying hedged Euro-denominated joint venture investment.
	The total gross accumulated other comprehensive loss related to our derivative activities, including our share of the other comprehensive loss from joint venture properties, approximated $66.7 million and $61.8 million as of March 31, 2014 and December 31, 2013, respectively.
New Accounting Pronouncements	'
	New Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-08, "Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity." ASU No. 2014-08 changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results. ASU No. 2014-08 is effective prospectively for fiscal years beginning after December 15, 2014, but can be early-adopted. We have early adopted ASU No. 2014-08 and will apply the revised definition to all disposals on a prospective basis. ASU 2014-08 also requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation.

Significant_Accounting_Policie1

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2014
Significant Accounting Policies	'
Schedule of rollforward of noncontrolling interests	'
		For the Three
		Months Ended
		March 31,
		2014			2013
	Noncontrolling nonredeemable (deficit) interests in properties, net — beginning of period	$	4,264		$	(877	)
	Net Income attributable to noncontrolling nonredeemable interests		31			3
	Distributions to noncontrolling nonredeemable interestholders		(11,731	)		(59	)
	Purchase and disposition of noncontrolling interests, net, and other		6,130			2
	Noncontrolling nonredeemable (deficit) interests in properties, net — end of period	$	(1,306	)	$	(931	)
Schedule of changes in accumulated other comprehensive income (loss) by component	'
	The changes in accumulated other comprehensive income (loss) by component consisted of the following as of March 31, 2014:
		Currency			Accumulated			Net unrealized		Total
		translation			derivative			gains on
		adjustments			losses, net			marketable
								securities
	Beginning balance	$	(27,755	)	$	(61,833	)	$	1,134	$	(88,454	)
	Other comprehensive income (loss) before reclassifications		13,733			(7,533	)		479		6,679
	Amounts reclassified from accumulated other comprehensive income (loss)		—			2,697			—		2,697
	Net current-period other comprehensive income (loss)		13,733			(4,836	)		479		9,376
	Ending balance	$	(14,022	)	$	(66,669	)	$	1,613	$	(79,078	)
Schedule of reclassifications out of accumulated other comprehensive income (loss)	'
		March 31, 2014			March 31, 2013
	Details about accumulated other	Amount reclassified			Amount reclassified			Affected line item in the
	comprehensive income (loss) components:	from accumulated			from accumulated			statement where net
		other comprehensive			other comprehensive			income is presented
		income (loss)			income (loss)
	Accumulated derivative losses, net
		$	(2,697	)	$	(1,511	)	Interest expense
		$	(2,697	)	$	(1,511	)
Schedule of outstanding interest rate derivatives related to interest rate risk	'
	As of March 31, 2014, we had the following outstanding interest rate derivatives related to managing our interest rate risk:
	Interest Rate Derivative	Number of		Notional
		Instruments		Amount
	Interest Rate Swaps	1		$91.1 million
	Interest Rate Caps	5		$247.2 million

Per_Unit_Data_Tables

Per Unit Data (Tables)	3 Months Ended
	Mar. 31, 2014
Per Unit Data	'
Schedule of computation of basic and diluted earnings per unit	'
		For the Three Months Ended
		March 31,
		2014		2013
	Net Income attributable to Unitholders — Basic & Diluted	$	399,267	$	330,694
	Weighted Average Units Outstanding — Basic		363,008,959		362,051,682
	Effect of stock options of Simon Property		—		203
	Weighted Average Units Outstanding — Diluted		363,008,959		362,051,885

Investment_in_Unconsolidated_E1

Investment in Unconsolidated Entities (Tables)	3 Months Ended
	Mar. 31, 2014
Investment in Unconsolidated Entities	'
Summary of equity method investments and share of income from such investments, balance sheet	'
		March 31,			December 31,
		2014			2013
	Assets:
	Investment properties, at cost	$	16,019,083		$	15,824,689
	Less - accumulated depreciation		5,339,813			5,294,578
			10,679,270			10,530,111
	Cash and cash equivalents		747,103			792,751
	Tenant receivables and accrued revenue, net		287,777			310,320
	Investment in unconsolidated entities, at equity		28,832			38,352
	Deferred costs and other assets		520,058			586,622
	Total assets	$	12,263,040		$	12,258,156
	Liabilities and Partners' Deficit:
	Mortgages	$	13,013,998		$	13,024,257
	Accounts payable, accrued expenses, intangibles, and deferred revenue		977,038			849,107
	Other liabilities		542,950			514,822
	Total liabilities		14,533,986			14,388,186
	Preferred units		67,450			67,450
	Partners' deficit		(2,338,396	)		(2,197,480	)
	Total liabilities and partners' deficit	$	12,263,040		$	12,258,156
	Our Share of:
	Partners' deficit	$	(763,064	)	$	(717,776	)
	Add: Excess Investment		1,971,553			2,059,584
	Our net Investment in unconsolidated entities, at equity	$	1,208,489		$	1,341,808
Summary of equity method investments and share of income from such investments, statement of operations	'
		For the Three Months Ended March 31,
		2014			2013
	Minimum rent	$	436,519		$	394,153
	Overage rent		48,932			47,767
	Tenant reimbursements		197,452			184,399
	Other income		112,908			42,074
	Total revenue		795,811			668,393
	Property operating		164,150			115,869
	Depreciation and amortization		156,077			127,686
	Real estate taxes		56,812			54,706
	Repairs and maintenance		20,614			16,164
	Advertising and promotion		19,088			15,921
	Provision for credit losses		3,230			1,245
	Other		53,060			35,682
	Total operating expenses		473,031			367,273
	Operating Income		322,780			301,120
	Interest expense		(155,199	)		(147,486	)
	Income from Continuing Operations		167,581			153,634
	Loss from operations of discontinued joint venture interests		—			(320	)
	Net Income	$	167,581		$	153,314
	Third-Party Investors' Share of Net Income	$	89,313		$	83,766
	Our Share of Net Income		78,268			69,548
	Amortization of Excess Investment		(25,598	)		(24,829	)
	Income from Unconsolidated Entities	$	52,670		$	44,719

Debt_Tables

Debt (Tables)	3 Months Ended
	Mar. 31, 2014
Debt	'
Schedule of fair value of fixed rate mortgages and the related discount rate assumptions	'
		March 31,	December 31,
		2014	2013
	Fair value of fixed-rate mortgages and unsecured indebtedness	$23,433	$23,297
	Weighted average discount rates assumed in calculation of fair value for fixed-rate mortgages	3.35%	3.07%

Equity_Tables

Equity (Tables)	3 Months Ended
	Mar. 31, 2014
Equity	'
Schedule of LTIP units earned and aggregate grant date fair values adjusted for estimated forfeitures	'
	LTIP Program	LTIP Units Earned		Grant Date Fair Value
	2010 LTIP Program
	1-year 2010 LTIP Program	133,673		1-year program — $7.2 million
	2-year 2010 LTIP Program	337,006		2-year program — $14.8 million
	3-year 2010 LTIP Program	489,654		3-year program — $23.0 million
	2011-2013 LTIP Program	469,848		$35.0 million
	2012-2014 LTIP Program	To be determined in 2015		$35.0 million
	2013-2015 LTIP Program	To be determined in 2016		$33.5 million
	2014-2016 LTIP Program	To be determined in 2017		$30.0 million
Reconciliation of carrying amounts of equity	'
		Preferred Units			Simon Property			Limited			Noncontrolling			Total Equity
					(Managing			Partners			interests
					General
					Partner)
	January 1, 2014	$	44,390		$	5,805,016		$	968,962		$	4,264		$	6,822,632
	Issuance of limited partner units								84,910						84,910
	Limited partner units exchanged to units					911			(911	)					—
	Purchase and disposition of noncontrolling interests, net											6,130			6,130
	Other		(82	)		(12,550	)		20,266						7,634
	Adjustment to limited partners' interest from change in ownership in the Operating Partnership					75,007			(75,007	)					—
	Distributions to limited partners, excluding preferred interests classified as temporary equity		(834	)		(388,263	)		(65,705	)		(11,731	)		(466,533	)
	Comprehensive income, excluding $479 attributable to preferred distributions on temporary equity preferred units and $492 attributable to noncontrolling redeemable interests in properties in temporary equity		834			349,864			58,779			31			409,508
	March 31, 2014	$	44,308		$	5,829,985		$	991,294		$	(1,306	)	$	6,864,281

Organization_Details

Organization (Details)

0 Months Ended

12 Months Ended

12 Months Ended

Dec. 13, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

2014 Forecasted Spinoff

U.S. and Puerto Rico

U.S. and Puerto Rico

U.S. and Puerto Rico

U.S. and Puerto Rico

U.S. and Puerto Rico

U.S. and Puerto Rico

Japan

Japan

Japan

South Korea

South Korea

South Korea

Mexico

Mexico

Mexico

Malaysia

Malaysia

Malaysia

Canada

Canada

Canada

Europe

Europe

Italy

Austria

Netherlands

United Kingdom

item

property

Malls

Premium Outlets

Community/Lifestyle Centers

The Mills

Other shopping centers or outlet centers

property

property

Premium Outlets

property

property

Premium Outlets

property

property

Premium Outlets

property

property

Premium Outlets

property

property

Premium Outlets

property

Klepierre

property

property

property

property

item

property

property

property

property

property

property

property

property

property

property

country

Owned, developed and managed retail properties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of income producing properties

'

307

156

66

61

13

11

9

9

9

3

3

3

1

1

1

1

1

1

1

1

1

'

'

'

'

'

'

Number of U.S. states containing property locations

'

38

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of outlets in which interest acquired

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'

'

'

'

'

'

'

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'

'

'

'

'

'

'

'

'

'

'

'

'

5

'

2

1

1

1

Joint venture ownership percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

28.90%

'

'

'

'

Number of countries

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

13

'

'

'

'

Number of properties merged under spin off into publicly traded REIT (Washington Prime Group Inc.)

98

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'

'

'

'

'

'

'

'

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'

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'

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'

'

Basis_of_Presentation_Details

Basis of Presentation (Details)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014
	property	McArthurGlen Group	Simon Property Group, Inc.	Simon Property Group, Inc.	Simon Property Group, Inc.	Simon Property Group, Inc.	Wholly owned properties	Partially owned properties
		property			Weighted average	Weighted average	property	property
Basis of Presentation and Consolidation	'	'	'	'	'	'	'	'
Number of outlets in which interest acquired	'	5	'	'	'	'	'	'
Number of properties included in consolidation	'	'	'	'	'	'	221	15
Total number of joint venture properties	91	'	'	'	'	'	'	'
Number of joint venture properties managed by the entity	68	'	'	'	'	'	'	'
Number of International joint venture properties	20	'	'	'	'	'	'	'
Number of joint venture properties managed by others	23	'	'	'	'	'	'	'
Ownership interest:	'	'	'	'	'	'	'	'
Ownership percentage in the Operating Partnership	'	'	85.50%	85.70%	85.60%	85.60%	'	'

Significant_Accounting_Policie2

Significant Accounting Policies (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014
In Millions, unless otherwise specified			Available for sale securities	Available for sale securities
			Securities in captive insurance subsidiary portfolio	Securities in captive insurance subsidiary portfolio
			Minimum	Maximum
Marketable and Non-Marketable Securities	'	'	'	'
Investment maturity period	'	'	'1 year	'10 years
Net unrealized gains (losses) recorded in accumulated other comprehensive income (loss)	$1.60	$1.10	'	'
Carrying value of investments under the cost method	$118.80	$118.80	'	'

Significant_Accounting_Policie3

Significant Accounting Policies (Details 2) (Recurring, USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Level 1	'	'
Fair Value Measurement:	'	'
Marketable securities with Level 1 fair value inputs	$152.70	$148.30
Level 2	'	'
Fair Value Measurement:	'	'
Interest rate swap agreements and foreign currency forward contracts, gross liability balance	1	1.2
Interest rate swap agreements and foreign currency forward contracts, gross asset balance	4.6	8.4
Level 3	'	'
Fair Value Measurement:	'	'
Investments	$0	'

Significant_Accounting_Policie4

Significant Accounting Policies (Details 3) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Noncontrolling Interests:	'	'
Balance	$6,822,632	'
Purchase and disposition of noncontrolling interests, net, and other	6,130	'
Balance	6,864,281	'
Noncontrolling Interests	'	'
Noncontrolling Interests:	'	'
Balance	4,264	-877
Net Income attributable to noncontrolling nonredeemable interests	31	3
Distributions to noncontrolling nonredeemable interestholders	-11,731	-59
Purchase and disposition of noncontrolling interests, net, and other	6,130	2
Balance	-1,306	-931
Noncontrolling interests redeemable at amounts in excess of fair value	$0	'
7.5% Cumulative Redeemable Preferred Units | Noncontrolling Interests	'	'
Noncontrolling Interests:	'	'
Dividend rate on cumulative redeemable preferred units (as a percent)	7.50%	'

Significant_Accounting_Policie5

Significant Accounting Policies (Details 4) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Significant Accounting Policies	'
Beginning balance	($88,454)
Other comprehensive income (loss) before reclassifications	6,679
Amounts reclassified from accumulated other comprehensive income (loss)	2,697
Net current-period other comprehensive income (loss)	9,376
Ending balance	-79,078
Currency translation adjustments	'
Significant Accounting Policies	'
Beginning balance	-27,755
Other comprehensive income (loss) before reclassifications	13,733
Net current-period other comprehensive income (loss)	13,733
Ending balance	-14,022
Accumulated derivative losses, net	'
Significant Accounting Policies	'
Beginning balance	-61,833
Other comprehensive income (loss) before reclassifications	-7,533
Amounts reclassified from accumulated other comprehensive income (loss)	2,697
Net current-period other comprehensive income (loss)	-4,836
Ending balance	-66,669
Net unrealized gains on marketable securities	'
Significant Accounting Policies	'
Beginning balance	1,134
Other comprehensive income (loss) before reclassifications	479
Net current-period other comprehensive income (loss)	479
Ending balance	$1,613

Significant_Accounting_Policie6

Significant Accounting Policies (Details 5) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Significant Accounting Policies	'	'
Interest expense	($268,151)	($285,026)
NET INCOME ATTRIBUTABLE TO UNITHOLDERS	399,267	330,694
Amount reclassified from accumulated other comprehensive income (loss)	'	'
Significant Accounting Policies	'	'
NET INCOME ATTRIBUTABLE TO UNITHOLDERS	-2,697	-1,511
Accumulated derivative losses, net | Amount reclassified from accumulated other comprehensive income (loss)	'	'
Significant Accounting Policies	'	'
Interest expense	($2,697)	($1,511)

Significant_Accounting_Policie7

Significant Accounting Policies (Details 6)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

In Millions, unless otherwise specified

USD ($)

USD ($)

Interest rate swap

Interest rate swap

Interest rate swap

Interest rate swap

Interest rate swap

Interest rate cap

USD-Yen currency forward contract

USD-Yen currency forward contract

USD-Euro currency forward contract

USD-Euro currency forward contract

USD-Euro currency forward contract

USD ($)

USD ($)

Other liabilities

Other liabilities

Deferred costs and other assets

USD ($)

JPY (¥)

Deferred costs and other assets

EUR (€)

Other liabilities

Other liabilities

instrument

USD ($)

USD ($)

USD ($)

instrument

USD ($)

USD ($)

USD ($)

Derivative financial instruments

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Instruments

'

'

1

'

'

'

'

5

'

'

'

'

'

Notional Amount

'

'

$91.10

'

'

'

'

$247.20

¥ 1,500

'

€ 74

'

'

Interest rate net, fair value

'

'

'

3

-0.2

-0.4

3.4

'

'

'

'

'

'

Forward contract net, fair value

'

'

'

'

'

'

'

'

'

4.6

'

-0.8

-0.8

Gross accumulated other comprehensive income or loss related to derivative activities

$66.70

$61.80

'

'

'

'

'

'

'

'

'

'

'

Per_Unit_Data_Details

Per Unit Data (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Per Unit Data	'	'
Net Income attributable to Unitholders - Basic	$399,267	$330,694
Net Income attributable to Unitholders - Diluted	399,267	330,694
Weighted Average Units Outstanding - Basic (in shares)	363,008,959	362,051,682
Effect of stock options of Simon Property (in shares)	'	203
Weighted Average Units Outstanding - Diluted (in shares)	363,008,959	362,051,885
Effect of dilutive securities:	'	'
Securities with dilutive effect	$0	'

Investment_in_Unconsolidated_E2

Investment in Unconsolidated Entities (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2013

In Millions, unless otherwise specified

Construction and other related party loans

Construction and other related party loans

United States

United States

Japan

Japan

South Korea

South Korea

Mexico

Mexico

Malaysia

Malaysia

Canada

Canada

Europe

property

property

property

property

property

property

property

property

property

property

property

property

property

Schedule of Equity Method Investments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties

'

'

71

73

9

9

3

3

1

1

1

1

1

1

'

Number of outlets in which interest acquired

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5

Loans to related party

$153.70

$140.30

'

'

'

'

'

'

'

'

'

'

'

'

'

Investment_in_Unconsolidated_E3

Investment in Unconsolidated Entities (Details 2) (Arizona Mills, USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Jan. 30, 2014
Arizona Mills	'	'
Acquisitions	'	'
Ownership interests acquired (as a percent)	'	50.00%
Gain due to acquisition of controlling interest	$2.70	'
Ownership interest after acquisition (as a percent)	'	100.00%

Investment_in_Unconsolidated_E4

Investment in Unconsolidated Entities (Details 3)

3 Months Ended

0 Months Ended

12 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Apr. 16, 2014

Dec. 31, 2013

Mar. 31, 2014

Jun. 30, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Oct. 16, 2013

Mar. 31, 2014

Dec. 31, 2013

Oct. 16, 2013

Oct. 16, 2013

USD ($)

USD ($)

USD ($)

Klepierre

McArthurGlen Group

McArthurGlen Group

McArthurGlen Group

Europe

Europe

Europe

Europe

Europe

Europe

Europe

Europe

EUR (€)

property

Ashford Designer Outlets

Minimum

property

Klepierre

Klepierre

McArthurGlen Group

McArthurGlen Group

McArthurGlen Group

McArthurGlen Group

McArthurGlen Group

Subsequent Event

USD ($)

USD ($)

property

USD ($)

USD ($)

Minimum

Maximum

Schedule of Equity Method Investments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares owned

'

'

'

'

'

'

'

'

57,634,148

'

'

'

'

'

'

Joint venture ownership percentage

'

'

'

'

'

45.00%

'

'

28.90%

'

'

'

'

22.50%

90.00%

Quoted market price per share (in dollars per share)

'

'

'

'

'

'

'

'

$44.67

'

'

'

'

'

'

Share of net income, net of amortization of our excess investment

$57,423,000

$54,231,000

'

'

'

'

'

'

$4,800,000

$9,500,000

'

'

'

'

'

Total revenues

'

'

'

'

'

'

'

'

367,300,000

364,800,000

'

'

'

'

'

Total operating income

'

'

'

'

'

'

'

'

166,700,000

157,400,000

'

'

'

'

'

Total gross consideration

'

'

'

1,980,000,000

'

'

'

'

'

'

'

'

'

'

'

Group's share of total consideration

'

'

'

1,650,000,000

'

'

'

'

'

'

'

'

'

'

'

Number of joint ventures to invest in per definitive agreement

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

Consolidated net Income

'

'

'

'

'

'

'

'

52,900,000

44,300,000

'

'

'

'

'

Number of outlets in which interest acquired

'

'

'

'

5

'

'

5

'

'

4

'

'

'

'

Purchase price of business acquired

'

'

'

'

'

'

'

'

'

'

'

496,700,000

'

'

'

Equity investment

$2,347,523,000

'

$2,433,399,000

'

'

'

'

'

'

'

'

$516,700,000

$510,700,000

'

'

Investment_in_Unconsolidated_E5

Investment in Unconsolidated Entities (Details 4) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
	property
Cost method investments	'	'
Cost method investment	$118.80	$118.80
Europe | Value Retail PLC	'	'
Cost method investments	'	'
Number of luxury outlets owned and operated	9	'
Number of outlets in which the entity has a minority direct ownership	3	'
Cost method investment	$115.40	$115.40

Investment_in_Unconsolidated_E6

Investment in Unconsolidated Entities (Details 5) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Equity Method Investments	'	'
Equity investment	$2,347,523	$2,433,399
Japan | Mitsubishi Estate Co., Ltd. | Premium Outlet operations	'	'
Schedule of Equity Method Investments	'	'
Joint venture ownership percentage	40.00%	'
Equity investment	265,300	261,100
South Korea | Shinsegae International Co | Premium Outlet operations	'	'
Schedule of Equity Method Investments	'	'
Joint venture ownership percentage	50.00%	'
Equity investment	$91,300	$76,400

Investment_in_Unconsolidated_E7

Investment in Unconsolidated Entities (Details 6) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
In Thousands, unless otherwise specified					Equity Method Investments	Equity Method Investments	Equity Method Investments
					Unconsolidated property interests	Unconsolidated property interests	Unconsolidated property interests
							Maximum
Assets:	'	'	'	'	'	'	'
Investment properties at cost	$35,598,458	$35,126,344	'	'	$16,019,083	$15,824,689	'
Less - accumulated depreciation	10,309,988	10,067,743	'	'	5,339,813	5,294,578	'
Investment properties, net	25,288,470	25,058,601	'	'	10,679,270	10,530,111	'
Cash and cash equivalents	1,013,368	1,716,863	829,966	1,184,518	747,103	792,751	'
Tenant receivables and accrued revenue, net	530,479	581,482	'	'	287,777	310,320	'
Investment in unconsolidated entities, at equity	'	'	'	'	28,832	38,352	'
Deferred costs and other assets	1,564,988	1,519,814	'	'	520,058	586,622	'
Total assets	'	'	'	'	12,263,040	12,258,156	'
Liabilities and Partners' Deficit:	'	'	'	'	'	'	'
Mortgages and other indebtedness	23,186,610	23,588,531	'	'	13,013,998	13,024,257	'
Accounts payable, accrued expenses, intangibles, and deferred revenues	1,259,452	1,374,113	'	'	977,038	849,107	'
Other liabilities	198,610	257,222	'	'	542,950	514,822	'
Total liabilities	25,783,706	26,311,457	'	'	14,533,986	14,388,186	'
Preferred units	44,308	44,390	'	'	67,450	67,450	'
Partners' deficit	'	'	'	'	-2,338,396	-2,197,480	'
Total liabilities and equity	32,755,599	33,324,574	'	'	12,263,040	12,258,156	'
Our Share of:	'	'	'	'	'	'	'
Partners' deficit	'	'	'	'	-763,064	-717,776	'
Add: Excess Investment	'	'	'	'	1,971,553	2,059,584	'
Our net Investment in unconsolidated entities, at equity	$2,347,523	$2,433,399	'	'	$1,208,489	$1,341,808	'
Life of joint ventures with excess investment	'	'	'	'	'	'	'40 years

Investment_in_Unconsolidated_E8

Investment in Unconsolidated Entities (Details 7) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenue:	'	'
Minimum rent	$828,920	$777,907
Overage rent	33,784	37,699
Tenant reimbursements	372,639	338,969
Other income	49,041	30,754
Total revenue	1,314,991	1,215,058
Operating Expenses:	'	'
Property operating	121,087	109,910
Depreciation and amortization	326,461	316,633
Real estate taxes	114,252	109,705
Repairs and maintenance	36,916	29,725
Advertising and promotion	24,571	21,259
Provision for credit losses	5,209	2,734
Other	20,480	18,000
Total operating expenses	699,119	657,369
OPERATING INCOME	615,872	557,689
Interest expense	-268,151	-285,026
Income from Unconsolidated Entities	57,423	54,231
Equity Method Investments | Unconsolidated property interests	'	'
Revenue:	'	'
Minimum rent	436,519	394,153
Overage rent	48,932	47,767
Tenant reimbursements	197,452	184,399
Other income	112,908	42,074
Total revenue	795,811	668,393
Operating Expenses:	'	'
Property operating	164,150	115,869
Depreciation and amortization	156,077	127,686
Real estate taxes	56,812	54,706
Repairs and maintenance	20,614	16,164
Advertising and promotion	19,088	15,921
Provision for credit losses	3,230	1,245
Other	53,060	35,682
Total operating expenses	473,031	367,273
OPERATING INCOME	322,780	301,120
Interest expense	-155,199	-147,486
Income from Continuing Operations	167,581	153,634
Loss from operations of discontinued joint venture interests	'	-320
Net Income	167,581	153,314
Third-Party Investors' Share of Net Income	89,313	83,766
Our Share of Net Income	78,268	69,548
Amortization of Excess Investment	-25,598	-24,829
Income from Unconsolidated Entities	$52,670	$44,719

Debt_Details

Debt (Details) (USD $)

3 Months Ended

12 Months Ended

3 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Jan. 21, 2014

Jan. 21, 2014

Mar. 31, 2014

Apr. 07, 2014

Mar. 31, 2014

Apr. 07, 2014

Mar. 31, 2014

Mar. 31, 2014

Feb. 28, 2014

Jan. 02, 2014

Mar. 31, 2014

Dec. 31, 2013

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Secured Debt

Secured Debt

Secured Debt

Secured Debt

Senior unsecured notes

Senior unsecured notes 4.9% to 6.75%

Senior unsecured notes 2.20% due February 2019

Senior unsecured notes 3.75% due February 2024

Credit Facility and the Supplemental Facility

Credit Facility

Credit Facility

Credit Facility

Supplemental Facility

Term loan

Mortgages

Mortgages

Mortgages

Mortgages

item

Maximum

property

note

mortgagepool

Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total mortgages and other indebtedness

$23,186,610,000

$23,588,531,000

$14,400,000,000

'

'

'

'

'

'

'

'

$240,000,000

'

'

$7,600,000,000

$8,200,000,000

Credit facility, amount outstanding

'

'

'

'

'

'

'

'

657,400,000

'

216,400,000

'

'

'

'

'

Maximum borrowing capacity

'

'

'

'

'

'

'

5,000,000,000

4,000,000,000

'

2,000,000,000

'

'

'

'

'

Available borrowing capacity

'

'

'

'

'

'

5,100,000,000

'

'

'

'

'

'

'

'

'

Maximum amount outstanding during period

'

'

'

'

'

'

1,200,000,000

'

'

'

'

'

'

'

'

'

Credit facility, weighted average amount outstanding

'

'

'

'

'

'

973,200,000

'

'

'

'

'

'

'

'

'

Letters of credit outstanding

'

'

'

'

'

'

41,700,000

'

'

'

'

'

'

'

'

'

Number of credit facilities

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

Optional expanded maximum borrowing capacity

'

'

'

'

'

'

'

'

'

'

2,500,000,000

'

'

'

'

'

Percentage of borrowings in currencies other than the U.S. Dollar

'

'

'

'

'

'

'

'

'

75.00%

'

'

'

'

'

'

Reference rate

'

'

'

'

'

'

'

'LIBOR

'LIBOR

'

'LIBOR

'

'

'

'

'

Interest added to reference rate (as a percent)

'

'

'

'

'

'

'

0.80%

0.95%

'

0.95%

'

'

'

'

'

Additional facility fee (as a percent)

'

'

'

'

'

'

'

0.10%

0.15%

'

0.15%

'

'

'

'

'

Multi-currency tranche

'

'

'

'

'

'

'

'

2,000,000,000

'

'

'

'

'

'

'

Amount of debt redeemed

'

'

'

716,100,000

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate, low end of range (as a percent)

'

'

'

4.90%

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate, high end of range (as a percent)

'

'

'

6.75%

'

'

'

'

'

'

'

'

'

'

'

'

Debt issued

'

'

'

'

600,000,000

600,000,000

'

'

'

'

'

'

'

'

370,000,000

'

Number of properties previously unencumbered expected to be part of the Washington Prime portfolio

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6

'

Interest rate on debt (as a percent)

'

'

'

'

2.20%

3.75%

'

'

'

'

'

'

'

'

4.60%

'

Debt repaid

'

'

'

'

'

'

'

'

'

'

'

'

269,000,000

820,000,000

'

'

Debt covenants

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of non-recourse mortgage notes under which the Company and subsidiaries are borrowers

'

'

'

'

'

'

'

'

'

'

'

'

'

'

66

'

Number of properties secured by non-recourse mortgage notes

'

'

'

'

'

'

'

'

'

'

'

'

'

'

85

'

Number of cross-defaulted and cross-collateralized mortgage pools

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8

'

Total number of properties pledged as collateral for cross defaulted and cross collateralized mortgages

'

'

'

'

'

'

'

'

'

'

'

'

'

'

29

'

Fair value of debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Carrying value of fixed-rate mortgages and unsecured indebtedness

21,700,000,000

21,800,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of fixed-rate mortgages and unsecured indebtedness

$23,433,000,000

$23,297,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average discount rates assumed in calculation of fair value for fixed-rate mortgages (as a percent)

3.35%

3.07%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity_Details

Equity (Details)	0 Months Ended	3 Months Ended
	Jan. 30, 2014	Mar. 31, 2014
	Arizona Mills	Partnership agreement
	acre	item
Equity	'	'
Number of limited partners who received common stock	'	1
Common stock, shares issued	'	48,725
Number of units issued in connection with acquisition of the remaining interest in Arizona Mills	555,150	'
Ownership interests acquired (as a percent)	50.00%	'
Area of land acquired (in acre) in Oyster Bay, New York	39	'

Equity_Details_2

Equity (Details 2) (USD $)

3 Months Ended

1 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

In Millions, except Share data, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Jul. 31, 2011

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Feb. 26, 2014

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Restricted stock

Restricted stock

LTIP Retention Award to Chairman and CEO

LTIP Retention Award to Chairman and CEO

LTIP Retention Award to Chairman and CEO

LTIP Retention Award to Chairman and CEO

1998 Stock Incentive Plan

LTIP programs

LTIP programs

One-year 2010 LTIP Program

Two-year 2010 LTIP Program

Three-year 2010 LTIP Program

2011-2013 LTIP Program

2012-2014 LTIP Program

2013-2015 LTIP program

2014-2016 LTIP Program

A Units

B Units

C Units

Restricted stock

Maximum

Maximum

Maximum

Employees

Stock-based incentive plan awards

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percent of distributions of Operating Partnership that participants are entitled to receive during performance period

'

'

'

'

'

'

'

10.00%

'

'

'

'

'

'

'

'

Award of restricted stock to employees (in shares)

'

'

1,000,000

'

'

'

1,246

'

'

'

'

'

'

'

'

'

Performance period

'

'

'

'

'

'

'

'

'

'1 year

'2 years

'3 years

'

'

'

'

Units earned under LTIP program (in shares)

'

'

'

'

'

'

'

'

'

133,673

337,006

489,654

469,848

'

'

'

Units to be earned under LTIP program (in shares)

'

'

'

360,000

360,000

280,000

'

'

'

'

'

'

'

'

'

'

Aggregate grant date fair value

'

'

$120.30

'

'

'

'

'

'

$7.20

$14.80

$23

$35

$35

$33.50

$30

Compensation expense, net of capitalization

$2.60

$3

'

'

'

'

'

$11.20

$10.20

'

'

'

'

'

'

'

Weighted average fair value of shares granted during the year (in dollars per share)

'

'

'

'

'

'

$161.06

'

'

'

'

'

'

'

'

'

Vesting period

'

'

'

'

'

'

'3 years

'2 years

'

'

'

'

'

'

'

'

Vesting rights percentage

'

'

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

Service period

'

'

'8 years

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity_Details_3

Equity (Details 3) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Increase (Decrease) in Stockholders' Equity	'	'
Balance	$6,822,632	'
Issuance of limited partner units	84,910	'
Purchase and disposition of noncontrolling interests, net	6,130	'
Other	7,634	'
Distributions to limited partners, excluding preferred interests classified as temporary equity	-466,533	'
Comprehensive income, excluding $479 attributable to preferred distributions on temporary equity preferred units and $492 attributable to noncontrolling redeemable interests in properties in temporary equity	409,508	'
Balance	6,864,281	'
Comprehensive income attributable to noncontrolling interests	523	2,461
Preferred Units	'	'
Increase (Decrease) in Stockholders' Equity	'	'
Balance	44,390	'
Other	-82	'
Distributions to limited partners, excluding preferred interests classified as temporary equity	-834	'
Comprehensive income, excluding $479 attributable to preferred distributions on temporary equity preferred units and $492 attributable to noncontrolling redeemable interests in properties in temporary equity	834	'
Balance	44,308	'
Comprehensive income, attributable to preferred distributions on temporary equity preferred units	479	'
Simon Property (Managing General Partner)	'	'
Increase (Decrease) in Stockholders' Equity	'	'
Balance	5,805,016	'
Limited partner units exchanged to units	911	'
Other	-12,550	'
Adjustment to limited partners' interest from change in ownership in the Operating Partnership	75,007	'
Distributions to limited partners, excluding preferred interests classified as temporary equity	-388,263	'
Comprehensive income, excluding $479 attributable to preferred distributions on temporary equity preferred units and $492 attributable to noncontrolling redeemable interests in properties in temporary equity	349,864	'
Balance	5,829,985	'
Limited Partners	'	'
Increase (Decrease) in Stockholders' Equity	'	'
Balance	968,962	'
Issuance of limited partner units	84,910	'
Limited partner units exchanged to units	-911	'
Other	20,266	'
Adjustment to limited partners' interest from change in ownership in the Operating Partnership	-75,007	'
Distributions to limited partners, excluding preferred interests classified as temporary equity	-65,705	'
Comprehensive income, excluding $479 attributable to preferred distributions on temporary equity preferred units and $492 attributable to noncontrolling redeemable interests in properties in temporary equity	58,779	'
Balance	991,294	'
Noncontrolling interests	'	'
Increase (Decrease) in Stockholders' Equity	'	'
Balance	4,264	-877
Purchase and disposition of noncontrolling interests, net	6,130	2
Distributions to limited partners, excluding preferred interests classified as temporary equity	-11,731	'
Comprehensive income, excluding $479 attributable to preferred distributions on temporary equity preferred units and $492 attributable to noncontrolling redeemable interests in properties in temporary equity	31	'
Balance	-1,306	-931
Comprehensive income attributable to noncontrolling interests	$492	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	1 Months Ended
In Millions, unless otherwise specified	31-May-10	Mar. 31, 2014	Dec. 31, 2013
		Joint Venture Mortgage and Indebtedness	Joint Venture Mortgage and Indebtedness
Commitments and Contingencies	'	'	'
Insurance proceeds funded by insurers	$50	'	'
Minimum insurance coverage	50	'	'
Additional insurance proceeds	150	'	'
Guarantees of Joint Venture Indebtedness:	'	'	'
Loan guarantee	'	201.2	190.8
Loan guarantees recoverable	'	$84.80	$83

Commitments_and_Contingencies_1

Commitments and Contingencies (Details 2) (Consolidated revenues, Concentration of credit risk, Maximum)	3 Months Ended
	Mar. 31, 2014
Consolidated revenues | Concentration of credit risk | Maximum	'
Concentration of Credit Risk	'
Percentage of consolidated revenues from a single customer or tenant	5.00%

Real_Estate_Acquisitions_and_D1

Real Estate Acquisitions and Dispositions (Details) (USD $)	12 Months Ended	0 Months Ended		3 Months Ended	0 Months Ended	3 Months Ended		0 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	30-May-13	Jan. 30, 2014	Mar. 31, 2014	Jan. 10, 2014	Mar. 31, 2014	Mar. 31, 2013	Jan. 10, 2014
	McArthurGlen Group	Outlet center, Portland OR	Arizona Mills	Arizona Mills	Portfolio of ten properties	Unconsolidated properties	Unconsolidated properties	Consolidated properties
	property	sqft	acre		property	property	Community Centers	Portfolio of ten properties
					item		property	property
Real Estate Acquisitions and Dispositions	'	'	'	'	'	'	'	'
Number of properties in which interest is acquired	5	'	'	'	10	'	3	7
Number of properties disposed of during the period	'	'	'	'	'	1	3	'
Gain (loss) on disposition	'	'	'	'	'	$0.20	$20.80	'
Number of partner's interest acquired	'	'	'	'	1	'	'	'
Property interest acquired (as a percent)	'	100.00%	'	'	'	'	'	'
Area of property acquired (in acre or square feet)	'	390,000	39	'	'	'	'	'
Consideration paid	'	'	145.8	'	114.4	'	'	'
Number of units issued in connection with acquisition of the remaining interest in Arizona Mills	'	'	555,150	'	'	'	'	'
Mortgage liability	'	'	166.9	'	'	'	'	'
Gain due to acquisition of controlling interest	'	'	'	2.7	'	'	'	'
Property interest acquired	'	146.7	'	'	'	'	'	'
Gain on acquisition of property interests	'	$27.30	'	'	'	'	'	'
Ownership interests acquired (as a percent)	'	'	50.00%	'	'	'	'	'
Ownership interest after acquisition (as a percent)	'	'	100.00%	'	'	'	'	'