VERIS RESIDENTIAL, INC. STOCKHOLDERS’ EQUITY AND VERIS RESIDENTIAL, L.P.’S PARTNERS’ CAPITAL (Tables)

3 Months Ended

Mar. 31, 2023

Stockholders' Equity Note [Abstract]

The following table reflects the activity of the General Partner capital for the three months ended March 31, 2023 and 2022, respectively (dollars in thousands):


	Three Months Ended March 31,
	2023		2022
Opening Balance	$	1,235,685	$	1,281,982
Net loss available to common shareholders	(19,973)		(9,092)

Redeemable noncontrolling interests	(4,516)		(2,942)
Redemption of common units for common stock	4,859		—
Shares issued under Dividend Reinvestment and Stock Purchase Plan	1		11
Directors' deferred compensation plan	110		110
Stock Compensation	3,471		1,957
Cancellation of common stock	(247)		—
Other comprehensive income (loss)	(858)		1,986
Rebalancing of ownership percent between parent and subsidiaries	(2,002)		1,669
Balance at March 31	$	1,216,530	$	1,275,681

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 months ended March 31, 2023 and 2022 in accordance with ASC 260, Earnings Per Share (dollars in thousands, except per share amounts):

Veris Residential, Inc.:


	Three Months Ended March 31,
Computation of Basic EPS	2023		2022
Loss from continuing operations	$	(19,394)	$	(25,453)
Add (deduct): Noncontrolling interests in consolidated joint ventures	587		974
Add (deduct): Noncontrolling interests in Operating Partnership	2,329		2,779
Add (deduct): Redeemable noncontrolling interests	(6,366)		(6,437)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders	(4,516)		(2,942)
Loss from continuing operations available to common shareholders	$	(27,360)	$	(31,079)
Income from discontinued operations available to common shareholders	2,871		19,045
Net loss available to common shareholders for basic earnings per share	(24,489)		(12,034)

Weighted average common shares	91,226		90,951

Basic EPS:
Loss from continuing operations available to common shareholders	$	(0.30)	$	(0.34)
Income from discontinued operations available to common shareholders	0.03		0.21
Net loss available to common shareholders	$	(0.27)	$	(0.13)


	Three Months Ended March 31,
Computation of Diluted EPS	2023		2022
Net loss from continuing operations available to common shareholders	$	(27,360)	$	(31,079)
Add (deduct): Noncontrolling interests in Operating Partnership	(2,329)		(2,779)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to the Operating Partnership unitholders	(461)		(291)
Loss from continuing operations for diluted earnings per share	(30,150)		(34,149)
Income from discontinued operations for diluted earnings per share	3,164		20,926
Net loss available for diluted earnings per share	$	(26,986)	$	(13,223)

Weighted average common shares	100,526		99,934

Diluted EPS:
Loss from continuing operations available to common shareholders	$	(0.30)	$	(0.34)
Income from discontinued operations available to common shareholders	0.03		0.21
Loss available to common shareholders	$	(0.27)	$	(0.13)

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 March 31,
	2023	2022
Basic EPS shares	91,226	90,951
Add: Operating Partnership – common and vested LTIP units	9,300	8,983


Diluted EPS Shares	100,526	99,934

Veris Residential, L.P.:


	Three Months Ended March 31,
Computation of Basic EPU	2023		2022
Loss from continuing operations	$	(19,394)	$	(25,453)
Add (deduct): Noncontrolling interests in consolidated joint ventures	587		974
Add (deduct): Redeemable noncontrolling interests	(6,366)		(6,437)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests	(4,977)		(3,233)
Loss from continuing operations available to unitholders	(30,150)		(34,149)
Income from discontinued operations available to unitholders	3,164		20,926
Net loss available to common unitholders for basic earnings per unit	$	(26,986)	$	(13,223)

Weighted average common units	100,526		99,934

Basic EPU:
Loss from continuing operations available to unitholders	$	(0.30)	$	(0.34)
Income from discontinued operations available to unitholders	0.03		0.21
Net loss available to common unitholders for basic earnings per unit	$	(0.27)	$	(0.13)

	Three Months Ended March 31,
Computation of Diluted EPU	2023		2022
Net loss from continuing operations available to common unitholders	$	(30,150)	$	(34,149)
Income from discontinued operations for diluted earnings per unit	3,164		20,926
Net loss available to common unitholders for diluted earnings per unit	$	(26,986)	$	(13,223)

Weighted average common unit	100,526		99,934

Diluted EPU:
Loss from continuing operations available to common unitholders	$	(0.30)	$	(0.34)
Income from discontinued operations available to common unitholders	0.03		0.21
Net loss available to common unitholders	$	(0.27)	$	(0.13)

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 March 31,
	2023	2022
Basic EPU units	100,526	99,934


Diluted EPU Units	100,526	99,934