Veris Residential, Inc. Stockholders’ Equity And Veris Residential, L.P.’s Partners’ Capital (Tables) |
12 Months Ended |
|---|---|
Dec. 31, 2021 | |
| Stockholders Equity [Line Items] | |
| Schedule Of Stock Option Plans | Weighted Aggregate Average Intrinsic Shares Exercise Value Under Options Price $(000’s)Outstanding at January 1, 2019 ($17.31) 800,000 $ 17.31 $ 1,824Granted, Lapsed or Cancelled - - Outstanding at December 31, 2019 ($17.31) 800,000 $ 17.31 4,656Granted 172,495 14.39 Outstanding at December 31, 2020 ($14.39 - $17.31) 972,495 $ 16.79 -Granted 1,107,505 16.10 Outstanding at December 31, 2021 ($14.39 - $20.00) 2,080,000 $ 16.42 $ 4,072Options exercisable at December 31, 2021 1,130,000 Available for grant at December 31, 2021 1,633,689 |
| Schedule Of Restricted Stock Awards | Weighted-Average Grant – Date Shares Fair ValueOutstanding at January 1, 2019 67,289 $ 22.43Granted 42,690 21.08Vested (65,353) 22.34Forfeited (1,936) 25.83Outstanding at December 31, 2019 42,690 $ 21.08Granted 52,974 15.29Vested (42,690) 21.08Forfeited - -Outstanding at December 31, 2020 52,974 $ 15.29Granted 39,529 17.71Vested (52,974) 15.29Forfeited - - Outstanding at December 31, 2021 39,529 $ 17.71 |
| Schedule Of Reconciliation Of Shares Used In Basic EPS Calculation To Shares Used In Diluted EPS Calculation | Year Ended December 31,Computation of Basic EPS 2021 2020 2019Income (loss) from continuing operations$ (149,021) $ (115,499) $ 252,852Add (deduct): Noncontrolling interests in consolidated joint ventures 4,595 2,695 3,904Add (deduct): Noncontrolling interests in Operating Partnership 15,469 13,277 (23,724)Add (deduct): Redeemable noncontrolling interests (25,977) (25,883) (22,615)Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders (7,290) (11,814) (25,885)Income (loss) from continuing operations available to common shareholders (162,224) (137,224) 184,532Income (loss) from discontinued operations available to common shareholders 35,892 74,023 (98,556)Net income (loss) available to common shareholders for basic earnings per share$ (126,332) $ (63,201) $ 85,976 Weighted average common shares 90,839 90,648 90,557 Basic EPS: Income (loss) from continuing operations available to common shareholders$ (1.79) $ (1.51) $ 2.04Income (loss) from discontinued operations available to common shareholders 0.40 0.81 (1.09)Net income (loss) available to common shareholders$ (1.39) $ (0.70) $ 0.95 Year Ended December 31,Computation of Diluted EPS 2021 2020 2019Net income (loss) from continuing operations available to common shareholders$ (162,224) $ (137,224) $ 184,532Add (deduct): Noncontrolling interests in Operating Partnership (15,469) (13,277) 23,724Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to the Operating Partnership unitholders (726) (1,254) (2,855)Income (loss) from continuing operations for diluted earnings per share (178,419) (151,755) 205,401Income (loss) from discontinued operations for diluted earnings per share 39,482 81,901 (109,016)Net income (loss) available for diluted earnings per share$ (138,937) $ (69,854) $ 96,385 Weighted average common shares 99,893 100,260 100,689 Diluted EPS: Income (loss) from continuing operations available to common shareholders$ (1.79) $ (1.51) $ 2.04Income (loss) from discontinued operations available to common shareholders 0.40 0.81 (1.09)Net (income) loss available to common shareholders$ (1.39) $ (0.70) $ 0.95 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): Year Ended December 31, 2021 2020 2019Basic EPS shares 90,839 90,648 90,557 Add: Operating Partnership – common and vested LTIP units 9,054 9,612 9,963 Stock Options - - 169 Diluted EPS Shares 99,893 100,260 100,689 |
| VERIS RESIDENTIAL, L.P. [Member] | |
| Stockholders Equity [Line Items] | |
| Schedule Of Stock Option Plans | Weighted Aggregate Average Intrinsic Shares Exercise Value Under Options Price $(000’s)Outstanding at January 1, 2019 ($17.31) 800,000 $ 17.31 $ 1,824Granted, Lapsed or Cancelled - - Outstanding at December 31, 2019 ($17.31) 800,000 $ 17.31 4,656Granted 172,495 14.39 Outstanding at December 31, 2020 ($14.39 - $17.31) 972,495 $ 16.79 -Granted 1,107,505 16.10 Outstanding at December 31, 2021 ($14.39 - $20.00) 2,080,000 $ 16.42 $ 4,072Options exercisable at December 31, 2021 1,130,000 Available for grant at December 31, 2021 1,633,689 |
| Schedule Of Restricted Stock Awards | Weighted-Average Grant – Date Shares Fair ValueOutstanding at January 1, 2019 67,289 $ 22.43Granted 42,690 21.08Vested (65,353) 22.34Forfeited (1,936) 25.83Outstanding at December 31, 2019 42,690 $ 21.08Granted 52,974 15.29Vested (42,690) 21.08Forfeited - -Outstanding at December 31, 2020 52,974 $ 15.29Granted 39,529 17.71Vested (52,974) 15.29Forfeited - - Outstanding at December 31, 2021 39,529 $ 17.71 |
| Schedule Of Reconciliation Of Shares Used In Basic EPS Calculation To Shares Used In Diluted EPS Calculation | Year Ended December 31,Computation of Basic EPU 2021 2020 2019Income (loss) from continuing operations $ (149,021) $ (115,499) $ 252,852Add (deduct): Noncontrolling interests in consolidated joint ventures 4,595 2,695 3,904Add (deduct): Redeemable noncontrolling interests (25,977) (25,883) (22,615)Add (deduct): Redemption value adjustment of redeemable noncontrolling interests (8,016) (13,068) (28,740)Income (loss) from continuing operations available to unitholders (178,419) (151,755) 205,401Income (loss) from discontinued operations available to unitholders 39,482 81,901 (109,016)Net income (loss) available to common unitholders for basic earnings per unit $ (138,937) $ (69,854) $ 96,385 Weighted average common units 99,893 100,260 100,520 Basic EPU: Income (loss) from continuing operations available to unitholders $(1.79) $(1.51) $2.04Income (loss) from discontinued operations available to unitholders 0.40 0.81 (1.09)Net income (loss) available to common unitholders for basic earnings per unit $(1.39) $(0.70) $ 0.95 Year Ended December 31,Computation of Diluted EPU 2021 2020 2019Net income (loss) from continuing operations available to common unitholders $ (178,419) $ (151,755) $ 205,401Income (loss) from discontinued operations for diluted earnings per unit 39,482 81,901 (109,016)Net income (loss) available to common unitholders for diluted earnings per unit $ (138,937) $(69,854) $ 96,385 Weighted average common unit 99,893 100,260 100,689 Diluted EPU: Income (loss) from continuing operations available to common unitholders $(1.79) $(1.51) $2.04Income (loss) from discontinued operations available to common unitholders 0.40 0.81 (1.09)Net income (loss) available to common unitholders $(1.39) $(0.70) $ 0.95 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): Year Ended December 31, 2021 2020 2019Basic EPU units 99,893 100,260 100,520 Add: Stock Options - - 169 Diluted EPU Units 99,893 100,260 100,689 |
| AO LTIP Units Award [Member] | |
| Stockholders Equity [Line Items] | |
| Schedule Of Weighted Average Assumptions | AO LTIP Units Expected life (in years)5.5 - 6.0 Risk-free interest rate2.6%Volatility29.0%Dividend yield3.5% |
| AO LTIP Units Award [Member] | VERIS RESIDENTIAL, L.P. [Member] | |
| Stockholders Equity [Line Items] | |
| Schedule Of Weighted Average Assumptions | AO LTIP Units Expected life (in years)5.5 - 6.0 Risk-free interest rate2.6%Volatility29.0%Dividend yield3.5% |
| 2013 Incentive Stock Plan [Member] | |
| Stockholders Equity [Line Items] | |
| Schedule Of Weighted Average Assumptions | 2021 2021 2021 2020 March June regular June premium stock options Expected life (in years)4.5 4.6 5.3 5.3 Risk-free interest rate0.79%0.71%0.94%0.41%Volatility35.0%35.0%34.0%31.0%Dividend yield1.6%1.5%1.4%2.7% |
| 2013 Incentive Stock Plan [Member] | VERIS RESIDENTIAL, L.P. [Member] | |
| Stockholders Equity [Line Items] | |
| Schedule Of Weighted Average Assumptions | 2021 2021 2021 2020 March June regular June premium stock options Expected life (in years)4.5 4.6 5.3 5.3 Risk-free interest rate0.79%0.71%0.94%0.41%Volatility35.0%35.0%34.0%31.0%Dividend yield1.6%1.5%1.4%2.7% |