Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

v3.22.0.1
Consolidated Statements Of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUES      
Revenue from leases $ 282,791,000 $ 272,970,000 $ 302,409,000
Total revenues 329,317,000 313,562,000 357,202,000
EXPENSES      
Real estate taxes 47,859,000 45,801,000 44,785,000
Utilities 14,802,000 13,717,000 17,881,000
Operating services 71,851,000 68,313,000 70,409,000
Real estate services expenses 12,857,000 13,555,000 15,918,000
General and administrative 57,198,000 71,058,000 59,805,000
Dead deal and transaction-related costs 12,221,000 2,583,000  
Depreciation and amortization 111,618,000 122,035,000 133,597,000
Property impairments 13,467,000 36,582,000  
Land and other impairments, net 23,719,000 16,817,000 32,444,000
Total expenses 365,592,000 390,461,000 374,839,000
OTHER (EXPENSE) INCOME      
Interest expense (65,192,000) (80,991,000) (90,569,000)
Interest and other investment income (loss) 524,000 43,000 2,412,000
Equity in earnings (loss) of unconsolidated joint ventures (4,251,000) (3,832,000) (1,319,000)
Gain on change of control of interests     13,790,000
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net 3,022,000 5,481,000 343,102,000
Gain on disposition of developable land 2,115,000 5,787,000 522,000
Gain (loss) on sale of unconsolidated joint venture interests (1,886,000) 35,184,000 903,000
Gain (loss) from extinguishment of debt, net (47,078,000) (272,000) 1,648,000
Total other income (expense) (112,746,000) (38,600,000) 270,489,000
Net income (loss) from continuing operations (149,021,000) (115,499,000) 252,852,000
Discontinued operations:      
Income from discontinued operations 13,930,000 70,700,000 24,334,000
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 25,552,000 11,201,000 (133,350,000)
Total discontinued operations, net 39,482,000 81,901,000 (109,016,000)
Net income (loss) (109,539,000) (33,598,000) 143,836,000
Noncontrolling interests in consolidated joint ventures 4,595,000 2,695,000 3,904,000
Noncontrolling interests in Operating Partnership of income from continuing operations 15,469,000 13,277,000 (23,724,000)
Noncontrolling interests in Operating Partnership in discontinued operations (3,590,000) (7,878,000) 10,460,000
Redeemable noncontrolling interests (25,977,000) (25,883,000) (22,615,000)
Net income (loss) available to common shareholders $ (119,042,000) $ (51,387,000) $ 111,861,000
Basic earnings per common share:      
Income (loss) from continuing operations $ (1.79) $ (1.51) $ 2.04
Discontinued operations 0.40 0.81 (1.09)
Net income (loss) available to common shareholders (1.39) (0.70) 0.95
Diluted earnings per common share:      
Income (loss) from continuing operations (1.79) (1.51) 2.04
Discontinued operations 0.40 0.81 (1.09)
Net income (loss) available to common shareholders $ (1.39) $ (0.70) $ 0.95
Basic weighted average shares outstanding 90,839 90,648 90,557
Diluted weighted average shares outstanding 99,893 100,260 100,689
Real Estate Services [Member]      
REVENUES      
Total revenues $ 9,596,000 $ 11,390,000 $ 13,873,000
Parking Income [Member]      
REVENUES      
Total revenues 15,003,000 15,604,000 21,857,000
Hotel Income [Member]      
REVENUES      
Total revenues 10,618,000 4,287,000 9,841,000
Other Income [Member]      
REVENUES      
Total revenues 11,309,000 9,311,000 9,222,000
VERIS RESIDENTIAL, L.P. [Member]      
REVENUES      
Revenue from leases 282,791,000 272,970,000 302,409,000
Total revenues 329,317,000 313,562,000 357,202,000
EXPENSES      
Real estate taxes 47,859,000 45,801,000 44,785,000
Utilities 14,802,000 13,717,000 17,881,000
Operating services 71,851,000 68,313,000 70,409,000
Real estate services expenses 12,857,000 13,555,000 15,918,000
General and administrative 57,198,000 71,058,000 59,805,000
Dead deal and transaction-related costs 12,221,000 2,583,000  
Depreciation and amortization 111,618,000 122,035,000 133,597,000
Property impairments 13,467,000 36,582,000  
Land and other impairments, net 23,719,000 16,817,000 32,444,000
Total expenses 365,592,000 390,461,000 374,839,000
OTHER (EXPENSE) INCOME      
Interest expense (65,192,000) (80,991,000) (90,569,000)
Interest and other investment income (loss) 524,000 43,000 2,412,000
Equity in earnings (loss) of unconsolidated joint ventures (4,251,000) (3,832,000) (1,319,000)
Gain on change of control of interests     13,790,000
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net 3,022,000 5,481,000 343,102,000
Gain on disposition of developable land 2,115,000 5,787,000 522,000
Gain (loss) on sale of unconsolidated joint venture interests (1,886,000) 35,184,000 903,000
Gain (loss) from extinguishment of debt, net (47,078,000) (272,000) 1,648,000
Total other income (expense) (112,746,000) (38,600,000) 270,489,000
Net income (loss) from continuing operations (149,021,000) (115,499,000) 252,852,000
Discontinued operations:      
Income from discontinued operations 13,930,000 70,700,000 24,334,000
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 25,552,000 11,201,000 (133,350,000)
Total discontinued operations, net 39,482,000 81,901,000 (109,016,000)
Net income (loss) (109,539,000) (33,598,000) 143,836,000
Noncontrolling interests in consolidated joint ventures 4,595,000 2,695,000 3,904,000
Redeemable noncontrolling interests (25,977,000) (25,883,000) (22,615,000)
Net income (loss) available to common shareholders $ (130,921,000) $ (56,786,000) $ 125,125,000
Basic earnings per common share:      
Income (loss) from continuing operations $ (1.79) $ (1.51) $ 2.04
Discontinued operations 0.40 0.81 (1.09)
Net income (loss) available to common shareholders (1.39) (0.70) 0.95
Diluted earnings per common share:      
Income (loss) from continuing operations (1.79) (1.51) 2.04
Discontinued operations 0.40 0.81 (1.09)
Net income (loss) available to common shareholders $ (1.39) $ (0.70) $ 0.95
Basic weighted average units outstanding 99,893 100,260 100,520
Diluted weighted average units outstanding 99,893 100,260 100,689
VERIS RESIDENTIAL, L.P. [Member] | Real Estate Services [Member]      
REVENUES      
Total revenues $ 9,596,000 $ 11,390,000 $ 13,873,000
VERIS RESIDENTIAL, L.P. [Member] | Parking Income [Member]      
REVENUES      
Total revenues 15,003,000 15,604,000 21,857,000
VERIS RESIDENTIAL, L.P. [Member] | Hotel Income [Member]      
REVENUES      
Total revenues 10,618,000 4,287,000 9,841,000
VERIS RESIDENTIAL, L.P. [Member] | Other Income [Member]      
REVENUES      
Total revenues $ 11,309,000 $ 9,311,000 $ 9,222,000