8-KOther EventsExhibits & Filings

EQUITY RESIDENTIAL 8-K Report, Corporate Update (May 23, 2011)

Filed May 23, 2011For Securities:EQR

Summary

Equity Residential (EQR) filed an 8-K on May 23, 2011, primarily to reformat and update its historical financial statements in accordance with SEC requirements concerning discontinued operations. This filing specifically addresses the reclassification of properties sold during the first three months of 2011 as a component of discontinued operations. This reclassification impacts previously issued annual financial statements (for the year ended December 31, 2010) that may be incorporated by reference into future SEC filings. The company emphasizes that this reclassification has no impact on previously reported net income, net income available to common shares, funds from operations (FFO), FFO available to common shares and units, normalized funds from operations (Normalized FFO), or Normalized FFO available to common shares and units. The filing essentially updates specific items within the 2010 Form 10-K to align with the presentation in their Q1 2011 Form 10-Q, including certain statements of operations and cash flows, and footnote disclosures.

Key Highlights

  • 1EQR is reformatting historical financial statements to comply with SEC rules on discontinued operations.
  • 2Properties sold in Q1 2011 are now reported as discontinued operations in updated filings.
  • 3This reclassification affects previously issued annual financial statements (2010 Form 10-K) if incorporated by reference.
  • 4The filing clarifies that this reclassification does not alter previously reported net income, FFO, or Normalized FFO figures.
  • 5Specific items in the 2010 Form 10-K are updated to match the presentation in the Q1 2011 Form 10-Q.
  • 6Key financial statements and disclosures are being provided in XBRL format.
  • 7The filing does not update matters in the 2010 10-K except as expressly stated.

Frequently Asked Questions

The primary purpose of this 8-K filing is to reformat and update Equity Residential's historical financial statements, specifically the 2010 Form 10-K, to reflect properties sold in the first quarter of 2011 as discontinued operations, as required by SEC regulations.

No, the company explicitly states that this reclassification has no effect on previously reported net income, net income available to common shares, funds from operations (FFO), FFO available to common shares and units, normalized funds from operations (Normalized FFO), or Normalized FFO available to common shares and units.

The filing updates Items 6, 7, and 8 of the 2010 Form 10-K, including selected financial data, management's discussion and analysis, and the financial statements themselves, to reclassify sold properties and conform presentation with the Q1 2011 10-Q. Exhibit 12 (Computation of Ratio of Earnings to Combined Fixed Charges) is also updated.

XBRL (Extensible Business Reporting Language) is a digital format for reporting financial information. Its inclusion means that the updated financial statements (consolidated balance sheets, statements of operations, cash flows, changes in equity, and notes) are provided in a machine-readable format, facilitating easier analysis and data extraction, as per SEC requirements.