8-KOther EventsExhibits & Filings

EQUITY RESIDENTIAL 8-K Report, Corporate Update (Jun 13, 2012)

Filed June 13, 2012For Securities:EQR

Summary

Equity Residential (EQR) has filed an 8-K report to update its previously issued financial statements for the year ended December 31, 2011, and interim periods, to comply with SEC requirements regarding discontinued operations. Specifically, properties sold during the first three months of 2012 are now being reclassified and reported as a component of discontinued operations across all presented periods, including prior year comparables. Importantly, this reclassification is a change in presentation format only and does not impact the Company's previously reported net income, net income available to Common Shares/Units, funds from operations (FFO), or normalized FFO. Investors should note that this filing is primarily a procedural update to align with SEC regulations and does not introduce new financial performance information or alter the company's reported financial results.

Key Highlights

  • 1EQR is re-issuing historical financial statements to comply with SEC regulations on discontinued operations.
  • 2Properties sold in the first three months of 2012 are now classified as discontinued operations.
  • 3This reclassification applies to the annual report for the year ended December 31, 2011, and comparative periods.
  • 4The change is purely a presentational format update and does not affect previously reported net income, FFO, or normalized FFO.
  • 5This filing updates specific items (6, 7, 8, and Exhibit 12) of the 2011 Form 10-K.
  • 6All other aspects of the previously filed Form 10-K remain unchanged.

Frequently Asked Questions

The main purpose of this 8-K filing is to reclassify certain properties sold by Equity Residential (EQR) and its Operating Partnership during the first three months of 2012 as discontinued operations in their historical financial statements, in order to comply with SEC reporting requirements. This affects the presentation of prior financial periods.

No, this filing is a reclassification for reporting purposes only. It has no impact on the previously reported net income, net income available to Common Shares/Units, funds from operations (FFO), FFO available to Common Shares and Units / Units, normalized funds from operations (Normalized FFO), or Normalized FFO available to Common Shares and Units / Units.

This 8-K filing updates Items 6, 7, 8, and Exhibit 12 (Computation of Ratio of Earnings to Combined Fixed Charges) of EQR's annual report on Form 10-K for the year ended December 31, 2011. It also includes XBRL formatted financial statements.

No, investors should not be concerned. This is a standard accounting and reporting procedure to comply with SEC guidelines for properties that have been divested. It does not represent a change in the company's ongoing operational performance or financial health.