8-KOther EventsExhibits & Filings

EQUITY RESIDENTIAL 8-K Report, Corporate Update (Dec 2, 2005)

Filed December 2, 2005For Securities:EQR

Summary

Equity Residential (EQR) filed a Form 8-K on December 2, 2005, to provide updated financial reporting in accordance with Statement of Financial Accounting Standards (SFAS) No. 144. This filing primarily concerns the reclassification of properties sold during the first nine months of 2005. These sold properties are now reported as a component of discontinued operations in previously issued annual financial statements (for years ending December 31, 2004, 2003, and 2002) that are incorporated by reference in subsequent SEC filings. This reclassification is a technical accounting adjustment required by SFAS No. 144 and does not alter Equity Residential's previously reported net income available to common shareholders or its Funds from Operations (FFO). The filing ensures compliance with SEC regulations regarding the presentation of disposed assets, providing investors with a clearer understanding of ongoing operations versus those that have ceased. All other aspects of the previously filed 2004, 2003, and 2002 10-K reports remain unchanged.

Key Highlights

  • 1Equity Residential (EQR) reissued historical financial statements in an updated format to comply with SFAS No. 144.
  • 2Properties sold in the first nine months of 2005 are now classified as discontinued operations.
  • 3This reclassification impacts annual financial statements for 2004, 2003, and 2002, as incorporated into subsequent filings.
  • 4The adjustment is a technical accounting requirement and does not change previously reported net income or Funds from Operations (FFO).
  • 5The filing specifically updates Items 6, 7, 8, and Exhibit 12 of the company's Form 10-K for the specified years.
  • 6No other financial or operational aspects of the referenced 10-K filings have been altered.

Frequently Asked Questions

The main purpose of this 8-K filing is for Equity Residential to update its previously issued annual financial statements (for 2004, 2003, and 2002) to reclassify properties sold during the first nine months of 2005 as discontinued operations, in compliance with SFAS No. 144.

No, this reclassification is a purely accounting adjustment and has no effect on the company's previously reported net income available to common shares or its Funds from Operations (FFO).

The filing updates specific items within the Form 10-K for the years ended December 31, 2004, 2003, and 2002. These include Items 6 (Selected Financial Data), 7 (Management's Discussion and Analysis), 8 (Financial Statements and Supplementary Data), and Item 15 (Exhibit 12 only - Computation of Ratio of Earnings to Combined Fixed Charges).

SFAS No. 144 refers to the Statement of Financial Accounting Standards No. 144, which provides guidance on accounting for the impairment or disposal of long-lived assets. This standard requires certain reclassifications for assets that have been sold or are held for sale.