8-KOther EventsExhibits & Filings

WELLTOWER INC. 8-K Report, Corporate Update (May 13, 2005)

Filed May 13, 2005For Securities:WELL

Summary

Health Care REIT, Inc. (WELL) filed a Form 8-K on May 13, 2005, primarily to reclassify certain assets as discontinued operations as of the first quarter ended March 31, 2005. This reclassification, driven by the sale of these assets and in accordance with Statement of Financial Accounting Standards No. 144, impacts the reporting of rental income, interest expense, and depreciation related to these divested assets. The company is updating specific sections of its previously filed 2004 Form 10-K to reflect these changes in prior periods. Importantly, the company states that the application of SFAS No. 144 had no effect on net income available to common stockholders. Investors are directed to more recent SEC filings, including Quarterly Reports on Form 10-Q, for the most current information regarding the company's financial performance and operations. The filing also includes updated financial statement schedules for informational purposes.

Key Highlights

  • 1Health Care REIT, Inc. is reclassifying certain assets as discontinued operations due to sales occurring in the quarter ended March 31, 2005.
  • 2This reclassification is in compliance with Statement of Financial Accounting Standards No. 144.
  • 3Prior period financial information within the company's 2004 Form 10-K (Items 6, 7, and 8) is being updated to reflect these discontinued operations.
  • 4The reclassification impacts the reporting of rental income, interest expense, and depreciation for the divested assets.
  • 5The company explicitly states that the reclassification under SFAS No. 144 had no impact on net income available to common stockholders.
  • 6Investors are advised to refer to more recent 10-Q filings and other SEC submissions for current operational and financial data.
  • 7The filing includes updated Financial Statement Schedules III and IV as exhibits.

Frequently Asked Questions

The primary purpose of this Form 8-K filing is to reclassify certain assets of Health Care REIT, Inc. as discontinued operations due to their sale during the first quarter of 2005. This reclassification is being made in accordance with accounting standards (SFAS No. 144) and requires updates to previously filed financial information.

No, the company explicitly stated that the application of Statement No. 144, regarding the reclassification of these assets, had no effect on the net income available to common stockholders.

The company directs investors to its more recent filings with the Securities and Exchange Commission, specifically its Quarterly Reports on Form 10-Q, other Current Reports on Form 8-K, and other submitted information filed since March 16, 2005, for the most current financial and operational details.

The filing indicates that portions of Items 6 (Selected Financial Data), 7 (Management’s Discussion and Analysis of Financial Condition and Results of Operations), and 8 (Financial Statements and Supplementary Data) of the Form 10-K for the year ended December 31, 2004, are being updated to reflect the discontinued operations.