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VERIS RESIDENTIAL, INC. STOCKHOLDERS’ EQUITY AND VERIS RESIDENTIAL, L.P.’S PARTNERS’ CAPITAL (Tables)
6 Months Ended
Jun. 30, 2022
Stockholders' Equity Note [Abstract]  
Schedule Of General Partner Capital
The following table reflects the activity of the General Partner capital for the three and six months ended June 30, 2022 and 2021, respectively (dollars in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2022202120222021
Opening Balance $1,275,681$1,406,823$1,281,982$1,398,817
Net income (loss) available to common shareholders26,373 (72,079)17,281 (64,456)
Common stock distributions
Redeemable noncontrolling interests(3,524)(1,550)(6,466)(3,341)
Redemption of common units for common stock161 2,716 161 2,716 
Shares issued under Dividend Reinvestment and Stock Purchase Plan16112729
Directors' deferred compensation plan11066220138
Stock Compensation2,5091,2394,4661,885
Cancellation of common stock(696)— (696)(118)
Other comprehensive income (loss)(54)1,932
Rebalancing of ownership percent between parent and subsidiaries(4,296)(2,000)(2,627)(444)
Balance at June 30$1,296,280$1,335,226$1,296,280$1,335,226
Schedule Of Reconciliation Of Shares Used In Basic EPS Calculation To Shares Used In Diluted EPS Calculation
The following information presents the Company’s results for the three and six months ended June 30, 2022 and 2021 in accordance with ASC 260, Earnings Per Share (dollars in thousands, except per share amounts):
Veris Residential, Inc.:
Three Months Ended
June 30,
Six Months Ended
June 30,
Computation of Basic EPS2022202120222021
Income (loss) from continuing operations$38,247 $(79,712)$32,975 $(100,756)
Add (deduct): Noncontrolling interests in consolidated joint ventures784 1,198 1,758 2,533 
Add (deduct): Noncontrolling interests in Operating Partnership(3,029)7,742 (2,064)10,122 
Add (deduct): Redeemable noncontrolling interests(6,366)(6,471)(12,803)(12,942)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders(3,524)(1,550)(6,466)(3,341)
Income (loss) from continuing operations available to common shareholders$26,112 $(78,793)$13,400 $(104,384)
Income (loss) from discontinued operations available to common shareholders(3,263)5,164 (2,585)36,587 
Net income (loss) available to common shareholders for basic earnings per share22,849 (73,629)10,815 (67,797)
Weighted average common shares91,027 90,774 90,989 90,733 
Basic EPS:
Income (loss) from continuing operations available to common shareholders$0.29 $(0.87)$0.15 $(1.15)
Income (loss) from discontinued operations available to common shareholders(0.04)0.06 (0.03)0.40 
Net income (loss) available to common shareholders$0.25 $(0.81)$0.12 $(0.75)
Three Months Ended
June 30,
Six Months Ended
June 30,
Computation of Diluted EPS2022202120222021
Net income (loss) from continuing operations available to common shareholders$26,112 $(78,793)$13,400 $(104,384)
Add (deduct): Noncontrolling interests in Operating Partnership3,029 (7,742)2,064 (10,122)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to the Operating Partnership unitholders(360)(155)(651)(334)
Income (loss) from continuing operations for diluted earnings per share28,781 (86,690)14,813 (114,840)
Income (loss) from discontinued operations for diluted earnings per share(3,597)5,681 (2,852)40,246 
Net income (loss) available for diluted earnings per share$25,184 $(81,009)$11,961 $(74,594)
Weighted average common shares100,352 99,873 100,171 99,817 
Diluted EPS:
Income (loss) from continuing operations available to common shareholders$0.29 $(0.87)$0.15 $(1.15)
Income (loss) from discontinued operations available to common shareholders(0.04)0.06 (0.03)0.40 
Net (income) loss available to common shareholders$0.25 $(0.81)$0.12 $(0.75)
The following schedule reconciles the weighted average shares used in the basic EPS calculation to the shares used in the diluted EPS calculation (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2022202120222021
Basic EPS shares91,027 90,774 90,989 90,733 
Add: Operating Partnership – common and vested LTIP units9,302 9,099 9,144 9,084 
Restricted Stock Awards— 10 — 
Stock Options16 — 28 — 
Diluted EPS Shares100,352 99,873 100,171 99,817 
Veris Residential, L.P.:
Three Months Ended
June 30,
Six Months Ended
June 30,
Computation of Basic EPU2022202120222021
Income (loss) from continuing operations$38,247 $(79,712)$32,975 $(100,756)
Add (deduct): Noncontrolling interests in consolidated joint ventures784 1,198 1,758 2,533 
Add (deduct): Redeemable noncontrolling interests(6,366)(6,471)(12,803)(12,942)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests(3,884)(1,705)(7,117)(3,675)
Income (loss) from continuing operations available to unitholders28,781 (86,690)14,813 (114,840)
Income (loss) from discontinued operations available to unitholders(3,597)5,681 (2,852)40,246 
Net income (loss) available to common unitholders for basic earnings per unit$25,184 $(81,009)$11,961 $(74,594)
Weighted average common units100,329 99,873 100,133 99,817 
Basic EPU:
Income (loss) from continuing operations available to unitholders$0.29 $(0.87)$0.15 $(1.15)
Income (loss) from discontinued operations available to unitholders(0.04)0.06 (0.03)0.40 
Net income (loss) available to common unitholders for basic earnings per unit$0.25 $(0.81)$0.12 $(0.75)
Three Months Ended
June 30,
Six Months Ended
June 30,
Computation of Diluted EPU2022202120222021
Net income (loss) from continuing operations available to common unitholders$28,781 $(86,690)$14,813 $(114,840)
Income (loss) from discontinued operations for diluted earnings per unit(3,597)5,681 (2,852)40,246 
Net income (loss) available to common unitholders for diluted earnings per unit$25,184 $(81,009)$11,961 $(74,594)
Weighted average common unit100,352 99,873 100,171 99,817 
Diluted EPU:
Income (loss) from continuing operations available to common unitholders$0.29 $(0.87)$0.15 $(1.15)
Income (loss) from discontinued operations available to common unitholders(0.04)0.06 (0.03)0.40 
Net income (loss) available to common unitholders$0.25 $(0.81)$0.12 $(0.75)
The following schedule reconciles the weighted average units used in the basic EPU calculation to the units used in the diluted EPU calculation (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2022202120222021
Basic EPU units100,329 99,873 100,133 99,817 
Add: Restricted Stock Awards— 10 — 
Stock Options16 — 28 — 
Diluted EPU Units100,352 99,873 100,171 99,817