XML 53 R40.htm IDEA: XBRL DOCUMENT v3.24.3
VERIS RESIDENTIAL, INC. STOCKHOLDERS’ EQUITY AND VERIS RESIDENTIAL, L.P.’S PARTNERS’ CAPITAL (Tables)
 9 Months Ended
Sep. 30, 2024
Stockholders' Equity Note [Abstract]  
Schedule of General Partner Capital
The following table reflects the activity of the General Partner capital for the three and nine months ended September 30, 2024 and 2023, respectively (dollars in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Opening Balance $1,132,424$1,196,953$1,137,478$1,235,685
Net loss available to common shareholders(9,692)(54,807)(10,673)(102,214)
Shares issued under ATM Program, net(66)— 1,765—
Common stock distributions(6,628)(4,714)(17,222)(4,714)
Redeemable noncontrolling interests— — — (4,516)
Redemption of common units for common stock22 2,297 135 11,348 
Shares issued under Dividend Reinvestment and Stock Purchase Plan2163
Directors' deferred compensation plan9899296295
Stock Compensation2,9269,36610,32516,218
Cancellation of common stock(657)(31)(3,998)(497)
Other comprehensive loss(4,404)(652)(4,172)(111)
Rebalancing of ownership percent between parent and subsidiaries(83)(902)2(3,887)
Balance at September 30$1,113,942$1,147,610$1,113,942$1,147,610
Schedule of Reconciliation of Shares used in Basic EPS Calculation to Shares used in Diluted EPS Calculation
The following information presents the Company’s results for the three and nine months ended September 30, 2024 and 2023 in accordance with ASC 260, Earnings Per Share (dollars in thousands, except per share amounts):
Veris Residential, Inc.:
Three Months Ended
September 30,		Nine Months Ended
September 30,
Computation of Basic EPS2024202320242023
Loss from continuing operations after income tax expense$(11,113)$(60,734)$(16,066)$(105,020)
Add (deduct): Noncontrolling interests in consolidated joint ventures391 592 1,429 1,815 
Add (deduct): Noncontrolling interests in Operating Partnership923 5,243 1,293 9,785 
Add (deduct): Redeemable noncontrolling interests(81)(350)(459)(7,333)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders— — — (4,516)
Loss from continuing operations available to common shareholders$(9,880)$(55,249)$(13,803)$(105,269)
Income (loss) from discontinued operations available to common shareholders188 442 3,130 (1,461)
Net loss available to common shareholders for basic earnings per share$(9,692)$(54,807)$(10,673)$(106,730)
Weighted average common shares92,903 92,177 92,615 91,762 
Basic EPS:
Loss from continuing operations available to common shareholders$(0.10)$(0.60)$(0.15)$(1.14)
Income (loss) from discontinued operations available to common shareholders— — 0.03 (0.02)
Net loss available to common shareholders$(0.10)$(0.60)$(0.12)$(1.16)
Three Months Ended
September 30,		Nine Months Ended
September 30,
Computation of Diluted EPS2024202320242023
Net loss from continuing operations available to common shareholders$(9,880)$(55,249)$(13,803)$(105,269)
Add (deduct): Noncontrolling interests in Operating Partnership(923)(5,243)(1,293)(9,785)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to the Operating Partnership unitholders— — — (461)
Loss from continuing operations for diluted earnings per share$(10,803)$(60,492)$(15,096)$(115,515)
Income (loss) from discontinued operations for diluted earnings per share206 484 3,425 (1,595)
Net loss available for diluted earnings per share$(10,597)$(60,008)$(11,671)$(117,110)
Weighted average common shares101,587 100,925 101,304 100,770 
Diluted EPS:
Loss from continuing operations available to common shareholders$(0.10)$(0.60)$(0.15)$(1.14)
Income (loss) from discontinued operations available to common shareholders— — 0.03 (0.02)
Net loss available to common shareholders$(0.10)$(0.60)$(0.12)$(1.16)
The following schedule reconciles the weighted average shares used in the basic EPS calculation to the shares used in the diluted EPS calculation (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Basic EPS shares92,903 92,177 92,615 91,762 
Add: Operating Partnership – common and vested LTIP units8,684 8,748 8,689 9,008 
Diluted EPS Shares101,587 100,925 101,304 100,770 
Veris Residential, L.P.:
Three Months Ended
September 30,		Nine Months Ended
September 30,
Computation of Basic EPU2024202320242023
Loss from continuing operations after income tax expense$(11,113)$(60,734)$(16,066)$(105,020)
Add (deduct): Noncontrolling interests in consolidated joint ventures391 592 1,429 1,815 
Add (deduct): Redeemable noncontrolling interests(81)(350)(459)(7,333)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests— — — (4,977)
Loss from continuing operations available to unitholders$(10,803)$(60,492)$(15,096)$(115,515)
Income (loss) from discontinued operations available to unitholders206 484 3,425 (1,595)
Net loss available to common unitholders for basic earnings per unit$(10,597)$(60,008)$(11,671)$(117,110)
Weighted average common units101,587 100,925 101,304 100,770 
Basic EPU:
Loss from continuing operations available to unitholders$(0.10)$(0.60)$(0.15)$(1.14)
Income (loss) from discontinued operations available to unitholders— — 0.03 (0.02)
Net loss available to common unitholders for basic earnings per unit$(0.10)$(0.60)$(0.12)$(1.16)
Three Months Ended
September 30,		Nine Months Ended
September 30,
Computation of Diluted EPU2024202320242023
Loss from continuing operations available to common unitholders$(10,803)$(60,492)$(15,096)$(115,515)
Income (loss) from discontinued operations for diluted earnings per unit206 484 3,425 (1,595)
Net loss available to common unitholders for diluted earnings per unit$(10,597)$(60,008)$(11,671)$(117,110)
Weighted average common unit101,587 100,925 101,304 100,770 
Diluted EPU:
Loss from continuing operations available to common unitholders$(0.10)$(0.60)$(0.15)$(1.14)
Income (loss) from discontinued operations available to common unitholders— — 0.03 (0.02)
Net loss available to common unitholders$(0.10)$(0.60)$(0.12)$(1.16)
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
September 30,		Nine Months Ended
September 30,
2024202320242023
Basic EPU units101,587 100,925 101,304 100,770 
Diluted EPU Units101,587 100,925 101,304 100,770