UDR, Inc. 8-K 2007
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 18, 2007
(Exact name of registrant as specified in charter)
1745 Shea Center Drive, Suite 200, Highlands Ranch, Colorado 80129
(Address of principal executive offices)(Zip Code)
Registrants telephone number, including area code: (720) 283-6120
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
ITEM 8.01. Other Events
UDR, Inc. (the Company) is re-issuing, in an updated format, its historical financial statements for the fiscal years ended December 31, 2006, 2005, and 2004, in connection with the requirements of Statement of Financial Accounting Standards No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, (SFAS No. 144). The provisions of SFAS No. 144 require, among other things, that the primary assets and liabilities and the results of operations of the Companys real properties which have been sold or are held for disposition, be classified as discontinued operations and segregated in the Companys Consolidated Statements of Operations and Balance Sheets. In compliance with SFAS No.144, the Company has presented the net operating results and the assets and liabilities of those properties sold or classified as held for disposition through March 31, 2007, as discontinued operations for all periods presented. Under SEC requirements, the same reclassification of continuing and discontinued operations as prescribed by SFAS No. 144 is required for all previously issued annual financial statements for each of the three years shown in the Companys last Annual Report on Form 10-K, if those financials are incorporated by reference in subsequent filings with the SEC made under the Securities Act of 1933, even though those financial statements relate to periods prior to the date of the reclassification. This reclassification has no effect on the Companys reported stockholders equity, cash flows or net income available to common stockholders.
This Current Report on Form 8-K updates Items 6, 7, 8 and 15 (Exhibit 12), of the Companys Annual Report on Form 10-K for the year ended December 31, 2006 (the Form 10-K), to reflect the primary assets and liabilities and the results of operations of the Companys real properties which have been sold prior to March 31, 2007 or are held for disposition at March 31, 2007, as discontinued operations. The updated financial information is attached to this Current Report on Form 8-K as Exhibit 99.1. All other items of the Companys Form 10-K remain unchanged. No attempt has been made to update matters in the Form 10-K except to the extent expressly provided above.
ITEM 9.01. Financial Statements and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.