---
schema_version: "secwatch.filing_event.v1"
accession: "0000895417-24-000014"
form_type: "8-K"
ticker: "ELS"
cik: "0000895417"
company_name: "EQUITY LIFESTYLE PROPERTIES INC"
filed_at: "2024-01-22T23:59:59+00:00"
generated_at: "2026-06-06T20:54:01.467717+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# ELS restates 2022 and Q1 2023 financials after SEC forces materiality correction

## Summary
- On Jan 19, 2024, Audit Committee determined prior financials (FY2022, Q1 2023) were materially misstated due to cash flow classification error for manufactured home purchases.
- Error: cash outflows for manufactured home purchases reclassified from investing to operating activities; no impact on net income, cash, or debt covenants.
- Non-GAAP measures revised: FFO for FY2022 revised from $523.6M to $505.1M; Normalized FFO from $531.6M to $513.1M; membership upgrade sales adjustments eliminated.
- FFO per share fully diluted for FY2022 revised from $2.68 to $2.59; Normalized FFO per share from $2.72 to $2.63.
- Company will file Amended Reports with SEC concurrent with this 8-K.

## SEC filing metadata
- accession: 0000895417-24-000014
- form_type: 8-K
- ticker: ELS
- cik: 0000895417
- company_name: EQUITY LIFESTYLE PROPERTIES INC
- filed_at: 2024-01-22T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01, 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/895417/000089541724000014/0000895417-24-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/895417/000089541724000014/els-20240119.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000895417-24-000014
- JSON: https://secwatch.observer/filing/0000895417-24-000014.json
- Plain text: https://secwatch.observer/filing/0000895417-24-000014.txt

## Key facts
- Earnings Releases
  EQUITY LIFESTYLE PROPERTIES INC reported Quarter Ended December 31, 2022; Year Ended December 31, 2022 results: net income $73.0 million (Quarter) and $284.6 million (Year).
  - Period: Quarter Ended December 31, 2022; Year Ended December 31, 2022
  - Net income: $73.0 million (Quarter) and $284.6 million (Year)
  source text: The table below presents Net income available for Common Stockholders, FFO available for Common Stock and OP Unit Holders and Normalized FFO available for Common Stock and OP Unit Holders as previously reported and as revised to exclude accrual to cash adjustments related to membership upgrade sales. (amounts in millions) Quarter Ended December 31, 2022 Year Ended December 31, 2022 Reported Revised Reported Revised Net income available for Common Stockholders $73.0 $73.0 $284.6 $284.6
  evidence_url: https://www.sec.gov/Archives/edgar/data/895417/000089541724000014/0000895417-24-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.