Quarterly report [Sections 13 or 15(d)]

VERIS RESIDENTIAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

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VERIS RESIDENTIAL, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (15,600) $ (13,730)
Net loss (income) from discontinued operations 0 (136)
Net income (loss) from continuing operations (15,600) (13,866)
Operating activities:    
Depreciation and amortization, including related intangible assets 21,229 21,250
Amortization of deferred compensation stock units 0 98
Amortization of stock compensation 3,644 3,268
Amortization of deferred financing costs and derivative premiums 1,831 2,779
Equity in (earnings) loss of unconsolidated joint ventures (460) (3,842)
(Gain) loss on disposition of developable land 0 156
Land and other impairments, net 0 3,200
Changes in operating assets and liabilities:    
Decrease (increase) in unbilled rents receivable, net 138 (156)
Decrease (increase) in deferred charges and other assets 3,338 1,844
Decrease (increase) in accounts receivable, net (392) 206
(Decrease) increase in accounts payable, accrued expenses and other liabilities (102) (1,895)
(Decrease) increase in rents received in advance and security deposits 390 17
(Decrease) increase in accrued interest payable 27 (30)
Net cash flows provided by (used in) operating activities - continuing operations 14,043 13,029
Net cash flows provided by (used in) operating activities - discontinued operations 0 164
Net cash provided by (used in) operating activities 14,043 13,193
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property additions, improvements and other costs (4,386) (5,805)
Development of rental property and other related costs (370) (1,084)
Proceeds from the sales of developable land 0 7,139
Distributions in excess of cumulative earnings from unconsolidated joint ventures 822 3,192
Net cash provided by (used in) investing activities (3,934) 3,442
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 99,000 20,000
Repayment of revolving credit facility (5,000) (24,000)
Repayment of mortgages, loans payable and other obligations (95,594) (2,293)
Common unit redemptions (823) (148)
Payment of financing costs and derivative premiums, net (3) (18)
Contribution from noncontrolling interests 0 70
Distribution to noncontrolling interests (256) (158)
Distributions to redeemable noncontrolling interests (81) (81)
Payment of common dividends and distributions (8,542) (8,286)
Payment for taxes related to the net share settlement of stock compensation awards (5,068) (3,923)
Net cash provided by (used in) financing activities (16,367) (18,837)
Net increase (decrease) in cash and cash equivalents (6,258) (2,202)
Cash, cash equivalents and restricted cash, beginning of period [1] 29,360 24,310
Cash, cash equivalents and restricted cash, end of period [2] $ 23,102 $ 22,108
[1] Includes Restricted Cash of $15,232 and $17,059 as of December 31, 2025 and 2024, respectively.
[2] Includes Restricted Cash of $13,687 and $14,512 as of March 31, 2026 and 2025, respectively.