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This excerpt taken from the EQR 8-K filed May 24, 2006. Consolidation of Variable Interest Entities,
as required, effective March 31, 2004. The adoption required the
consolidation of all previously unconsolidated development projects. FIN No. 46
requires the Company to consolidate the assets, liabilities and results of
operations of the activities of a variable interest entity, which for the
Company includes only its development partnerships, if the Company is entitled
to receive a majority of the entity’s residual returns and/or is subject to a
majority of the risk of loss from such entity’s activities. Due to the March 31,
2004 effective date, the Company has only consolidated the results of
operations beginning April 1, 2004. The adoption of FIN No. 46 did
not have any effect on net income as the aggregate results of operations of
these development properties were previously included in income (loss) from
investments in unconsolidated entities.
The Company adopted the disclosure provisions of SFAS No. 150 and FSP No. FAS 150-3, This excerpt taken from the EQR 10-K filed Mar 8, 2006. Consolidation
of Variable Interest Entities, as required, effective March 31,
2004. The adoption required the consolidation of all previously unconsolidated
development projects. FIN No. 46 requires the Company to consolidate the
assets, liabilities and results of operations of the activities of a variable
interest entity, which for the Company includes only its development
partnerships, if the Company is entitled to receive a majority of the entity’s
residual returns and/or is subject to a majority of the risk of loss from such
entity’s activities. Due to the March 31, 2004 effective date, the Company
has only consolidated the results of operations beginning April 1, 2004. The
adoption of FIN No. 46 did not have any effect on net income as the aggregate
results of operations of these development properties were previously included
in income (loss) from investments in unconsolidated entities.
The Company adopted the disclosure provisions of SFAS No. 150 and FSP No. FAS 150-3, This excerpt taken from the EQR 8-K filed Dec 2, 2005. Consolidation of Variable
Interest Entities, as required, effective March 31, 2004. The adoption required the consolidation of
all previously unconsolidated development projects. FIN No. 46 requires the Company to
consolidate the assets, liabilities and results of operations of the activities
of a variable interest entity, which for the Company includes only its
development partnerships, if the Company is entitled to receive a majority of
the entity’s residual returns and/or is subject to a majority of the risk of
loss from such entity’s activities. As
of the original formation of the respective joint ventures, the Company is
considered to be the primary beneficiary and the fair value of the assets,
liabilities and non-controlling interests of these development projects
approximates carryover basis. Due to the
March 31, 2004 effective date, the Company has only consolidated the
results of operations beginning April 1, 2004. The adoption of FIN No. 46 did not have
any effect on net income as the aggregate results of operations of these
development properties were previously included in loss from investments in
unconsolidated entities. See Note 4 for
additional discussion.
The Company generally contributes between 25% and 35% of the project cost of the joint venture projects under development (constituting 100% of the equity), with the remaining cost financed through third-party construction mortgages. Voting rights are shared equally between the Company and its respective development partners and accordingly, these projects were accounted for under the equity method prior to the adoption of FIN No. 46.
In May 2003, the FASB issued SFAS No. 150, This excerpt taken from the EQR 10-Q filed Nov 7, 2005. Consolidation of Variable Interest Entities, as
required, effective March 31, 2004.
The adoption required the consolidation of all previously unconsolidated
development projects. FIN No. 46
requires the Company to consolidate the assets, liabilities and results of
operations of the activities of a variable interest entity, which for the
Company includes only its development partnerships, if the Company is entitled
to receive a majority of the entity’s residual returns and/or is subject to a
majority of the risk of loss from such entity’s activities. Due to the March 31, 2004 effective
date, the Company has only consolidated the results of operations beginning April 1,
2004. The adoption of FIN No. 46
did not have any effect on net income as the aggregate results
9
of operations of these development properties were previously included in income (loss) from investments in unconsolidated entities.
The Company adopted the disclosure provisions of SFAS No. 150 and FSP No. FAS 150-3, This excerpt taken from the EQR 8-K filed Aug 22, 2005. Consolidation of Variable Interest Entities,
as required, effective March 31, 2004.
The adoption required the consolidation of all previously unconsolidated
development projects. FIN No. 46
requires the Company to consolidate the assets, liabilities and results of
operations of the activities of a variable interest entity, which for the
Company includes only its development partnerships, if the Company is entitled
to receive a majority of the entity’s residual returns and/or is subject to a
majority of the risk of loss from such entity’s activities. As of the original formation of the
respective joint ventures, the Company is considered to be the primary
beneficiary and the fair value of the assets, liabilities and non-controlling
interests of these development projects approximates carryover basis. Due to the March 31, 2004 effective date, the
Company has only consolidated the results of operations beginning April 1,
2004. The adoption of FIN No. 46 did not
have any effect on net income as the aggregate results of operations of these
development properties were previously included in loss from investments in
unconsolidated entities. See Note 4 for
additional discussion.
The Company generally contributes between 25% and 35% of the project cost of the joint venture projects under development (constituting 100% of the equity), with the remaining cost financed through third-party construction mortgages. Voting rights are shared equally between the Company and its respective development partners and accordingly, these projects were accounted for under the equity method prior to the adoption of FIN No. 46.
In May 2003, the FASB issued SFAS No. 150, This excerpt taken from the EQR 10-Q filed Aug 8, 2005. Consolidation
of Variable Interest Entities, as required, effective March 31,
2004. The adoption required the
consolidation of all previously unconsolidated development projects. FIN No. 46 requires the Company to
consolidate the assets, liabilities and results of operations of the activities
of a variable interest entity, which for the Company includes only its
development partnerships, if the Company is entitled to receive a majority of
the entity’s residual returns and/or is subject to a majority of the risk of
loss from such entity’s activities. Due
to the March 31, 2004 effective date, the Company has only consolidated
the results of operations beginning
9
April 1, 2004. The adoption of FIN No. 46 did not have any effect on net income as the aggregate results of operations of these development properties were previously included in loss from investments in unconsolidated entities.
The Company adopted the disclosure provisions of SFAS No. 150 and FSP No. FAS 150-3, This excerpt taken from the EQR 10-Q filed May 9, 2005. Consolidation
of Variable Interest Entities, as required, effective March 31,
2004. The adoption required the
consolidation of all previously unconsolidated development projects. FIN No. 46 requires the Company to
consolidate the assets, liabilities and results of operations of the activities
of a variable interest entity, which for the Company includes only its
development partnerships, if the Company is entitled to receive a majority of
the entity’s residual returns and/or is subject to a majority of the risk of
loss from such entity’s activities. As
of the original formation of the respective joint ventures, the Company is
considered to be the primary beneficiary and the fair value of the assets,
liabilities and non-controlling interests of these development projects
approximates carryover basis. Due to the
March 31, 2004 effective date, the Company has only
8
consolidated the results of operations beginning April 1, 2004. The adoption of FIN No. 46 did not have any effect on net income as the aggregate results of operations of these development properties were previously included in loss from investments in unconsolidated entities.
The Company generally contributes between 25% and 35% of the project cost of the joint venture projects under development (constituting 100% of the equity), with the remaining cost financed through third-party construction mortgages. Voting rights are shared equally between the Company and its respective development partners and accordingly, these projects were accounted for under the equity method prior to adoption of FIN No. 46.
In May 2003, the FASB issued SFAS No. 150, This excerpt taken from the EQR 10-K filed Mar 14, 2005. Consolidation of Variable Interest Entities,
as required, effective March 31, 2004.
The adoption required the consolidation of all previously unconsolidated
development projects. FIN No. 46
requires the Company to consolidate the assets, liabilities and results of
operations of the activities of a variable interest entity, which for the
Company includes only its development partnerships, if the Company is entitled
to receive a majority of the entity’s residual returns and/or is subject to a
majority of the risk of loss from such entity’s activities. As of the original formation of the
respective joint ventures, the Company is considered to be the primary beneficiary
and the fair value of the assets, liabilities and non-controlling interests of
these development projects approximates carryover basis. Due to the March 31, 2004 effective date, the
Company has only consolidated the results of operations beginning April 1,
2004. The adoption of FIN No. 46 did not
have any effect on net income as the aggregate results of operations of these
development properties were previously included in loss from investments in
unconsolidated entities. See Note 4 for
additional discussion.
The Company generally contributes between 25% and 35% of the project cost of the joint venture projects under development (constituting 100% of the equity), with the remaining cost financed through third-party construction mortgages. Voting rights are shared equally between the Company and its respective development partners and accordingly, these projects were accounted for under the equity method prior to the adoption of FIN No. 46.
In May 2003, the FASB issued SFAS No. 150, | EXCERPTS ON THIS PAGE:
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