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VERIS RESIDENTIAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUES      
Total revenues $ 279,859 $ 233,448 $ 194,645
EXPENSES      
Real estate taxes 40,810 39,112 28,818
Utilities 9,922 8,921 8,307
Operating services 57,925 52,797 45,460
Real estate services expenses 14,188 10,549 12,858
General and administrative 44,472 56,014 56,977
Transaction-related costs 7,627 3,468 12,208
Depreciation and amortization 93,589 85,434 68,506
Property impairments 32,516 0 0
Land and other impairments, net 9,324 9,368 23,719
Total expenses 310,373 265,663 256,853
OTHER (EXPENSE) INCOME      
Interest expense (89,355) (66,381) (47,505)
Interest cost of mandatorily redeemable noncontrolling interests (49,782) 0 0
Interest and other investment income (loss) 5,515 729 524
Equity in earnings (loss) of unconsolidated joint ventures 3,102 1,200 (4,250)
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net 0 0 3,023
Gain on disposition of developable land 7,068 57,262 2,115
Loss on sale of unconsolidated joint venture interests 0 0 (1,886)
Loss from extinguishment of debt, net (5,606) (129) (47,078)
Other income, net 2,871 0 0
Total other income (expense), net (126,187) (7,319) (95,057)
Loss from continuing operations before income tax expense (156,701) (39,534) (157,265)
Provision for income taxes (492) 0 0
Loss from continuing operations after income tax expense (157,193) (39,534) (157,265)
Discontinued operations:      
Income (Loss) from discontinued operations 3,150 (64,704) 22,174
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 41,682 69,353 25,552
Total discontinued operations, net 44,832 4,649 47,726
Net loss (112,361) (34,885) (109,539)
Noncontrolling interests in consolidated joint ventures 2,319 3,079 4,595
Noncontrolling interests in Operating Partnership of income from continuing operations 14,267 5,652 16,212
Noncontrolling interests in Operating Partnership in discontinued operations (3,872) (378) (4,333)
Redeemable noncontrolling interests (7,618) (25,534) (25,977)
Net loss available to common shareholders $ (107,265) $ (52,066) $ (119,042)
Basic earnings per common share:      
Loss from continuing operations (in dollars per share) $ (1.66) $ (0.68) $ (1.87)
Discontinued operations (in dollars per share) 0.44 0.05 0.48
Net loss available to common shareholders (in dollars per share) (1.22) (0.63) (1.39)
Diluted earnings per common share:      
Loss from continuing operations (in dollars per share) (1.66) (0.68) (1.87)
Discontinued operations (in dollars per share) 0.44 0.05 0.48
Net loss available to common shareholders (in dollars per share) $ (1.22) $ (0.63) $ (1.39)
Basic weighted average shares outstanding (in shares) 91,883 91,046 90,839
Diluted weighted average shares outstanding (in shares) 100,812 100,265 99,893
Revenue from leases      
REVENUES      
Total revenues $ 252,144 $ 206,052 $ 162,082
Real estate services      
REVENUES      
Total revenues 3,868 3,581 9,596
Parking income      
REVENUES      
Total revenues 18,036 15,819 12,274
Other income      
REVENUES      
Total revenues $ 5,811 $ 7,996 $ 10,693

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