Veris Residential, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Tables)

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2012

Schedule Of Segment Reporting Information, By Segment


				Construction		Corporate			Total
		Real Estate		Services		& Other (d)			Company
Total revenues:
2012	$	686,839	$	15,825	$	2,079		$	704,743
2011		693,947		13,079		2,080			709,106
2010		712,436		63,702		(2,395)			773,743

Total operating and interest expenses(a):
2012	$	267,439	$	16,363	$	166,536	(h)	$	450,338	(e)
2011		273,816		13,874		155,586			443,276	(f)
2010		278,126		63,141		177,737			519,004	(g)

Equity in earnings (loss) of unconsolidated
joint ventures(i):
2012	$	4,089		-		-		$	4,089
2011		2,022		-		-			2,022
2010		2,276		-		-			2,276

Net operating income (loss) (b):
2012	$	423,489	$	(538)	$	(164,457)	(h)	$	258,494	(e)
2011		422,153		(795)		(153,506)			267,852	(f)
2010		436,586		561		(180,132)			257,015	(g)

Total assets(i):
2012	$	4,460,244	$	6,255	$	59,546		$	4,526,045
2011		4,272,469		7,022		16,268			4,295,759

Total long-lived assets (c)(i):
2012	$	4,230,823		-	$	3,585		$	4,234,408
2011		4,034,651		-		2,272			4,036,923

(a) Total operating and interest expenses represent the sum of: real estate taxes; utilities; operating services; direct construction costs; real estate services salaries, wages and other costs; general and administrative and interest expense (net of interest income). All interest expense, net of interest income, (including for property-level mortgages) is excluded from segment amounts and classified in Corporate & Other for all periods.

(b) Net operating income represents total revenues less total operating and interest expenses [as defined in Note (a)], plus equity in earnings (loss) of unconsolidated joint ventures, for the period.

(c) Long-lived assets are comprised of net investment in rental property, unbilled rents receivable and investments in unconsolidated joint ventures.

(d) Corporate & Other represents all corporate-level items (including interest and other investment income, interest expense and non-property general and administrative expense) as well as intercompany eliminations necessary to reconcile to consolidated Company totals. Also includes the revenues and expenses attributable to the Roseland Business acquired in 2012.

(e) Excludes $189,008 of depreciation and amortization and $18,245 of impairments.

(f) Excludes $190,050 of depreciation and amortization.

(g) Excludes $187,592 of depreciation and amortization.

(h) Included in these amounts for the year ended December 31, 2012 were transaction costs related to Roseland Transaction of $5.8 million.

(i) Included in the real estate segment for these items are the effects of the Roseland Assets acquired in 2012.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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