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, 2013

Schedule Of Segment Reporting Information, By Segment


		Real Estate
		Commercial				Multi-family			Corporate		Total
		& Other		Multi-family		Services			& Other (d)		Company
Total revenues:
2013	$	621,352	$	12,792	$	25,710	(e)	$	7,177	$	667,031
2012		634,369		-		4,465	(f)		11,798		650,632
2011		639,114		-		-			13,121		652,235

Total operating and
interest expenses (a):
2013	$	285,755	$	6,482	$	32,415		$	135,963	$	460,615
2012		276,706		-		5,195			146,116		428,017
2011		279,056		-		-			140,531		419,587

Equity in earnings (loss) of
unconsolidated joint ventures:
2013	$	6,280	$	(10,615)	$	2,008		$	-	$	(2,327)
2012		5,564		(1,475)		-			-		4,089
2011		2,022		-		-			-		2,022

Net operating income (loss) (b):
2013	$	341,877	$	(4,305)	$	(4,697)		$	(128,786)	$	204,089
2012		363,227		(1,475)		(730)			(134,318)		226,704
2011		362,080		-		-			(127,410)		234,670

Total assets:
2013	$	3,886,574	$	377,237	$	10,488		$	241,029	$	4,515,328
2012		4,386,486		65,723		15,018			58,818		4,526,045

Total long-lived assets (c):
2013	$	3,620,494	$	240,501	$	3,468		$	3,730	$	3,868,193
2012		4,097,049		-		2,945			5,019		4,105,013

Total investments in unconsolidated joint ventures:
2013	$	53,160	$	127,276	$	693		$	-	$	181,129
2012		69,814		62,525		-			-		132,339

(a)Total operating and interest expenses represent the sum of: real estate taxes; utilities; operating services; direct construction costs; real estate services expenses; 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 goodwill.

(d)Corporate & Other represents all corporate-level items (including interest and other investment income, interest expense, non-property general and administrative expense, construction services revenue and direct construction costs) as well as intercompany eliminations necessary to reconcile to consolidated Company totals.

(e)Includes $2,160 of fees earned for this period from the multi-family real estate segment, which are eliminated in consolidation.

(f)Includes $230 of fees earned for this period from the multi-family real estate segment, which are eliminated in consolidation.

- 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.

+ References + Details