Quarterly report pursuant to Section 13 or 15(d)

VERIS RESIDENTIAL, INC. STOCKHOLDERS??? EQUITY AND VERIS RESIDENTIAL, L.P.???S PARTNERS??? CAPITAL (Tables)

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VERIS RESIDENTIAL, INC. STOCKHOLDERS’ EQUITY AND VERIS RESIDENTIAL, L.P.’S PARTNERS’ CAPITAL (Tables)
 9 Months Ended
Sep. 30, 2023
Stockholders' Equity Note [Abstract]  
Schedule of General Partner Capital
The following table reflects the activity of the General Partner capital for the three and nine months ended September 30, 2023 and 2022, respectively (dollars in thousands):
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2023 2022 2023 2022
Opening Balance $ 1,196,953 $ 1,296,280 $ 1,235,685 $ 1,281,982
Net loss available to common shareholders (54,807) (101,218) (102,214) (83,937)
Common stock distributions (4,714) — (4,714) —
Redeemable noncontrolling interests —  1,279  (4,516) (5,187)
Redemption of common units for common stock 2,297  —  11,348  161 
Shares issued under Dividend Reinvestment and Stock Purchase Plan 1 (4) 3 23
Directors' deferred compensation plan 99 110 295 330
Stock Compensation 9,366 2,790 16,218 7,256
Cancellation of common stock (31) (156) (497) (852)
Other comprehensive (loss) income (652) 2,338 (111) 4,270
Rebalancing of ownership percent between parent and subsidiaries (902) 160 (3,887) (2,467)
Balance at September 30 $ 1,147,610 $ 1,201,579 $ 1,147,610 $ 1,201,579
Schedule of Reconciliation of Shares used in Basic EPS Calculation to Shares used in Diluted EPS Calculation
The following information presents the Company’s results for the three and nine months ended September 30, 2023 and 2022 in accordance with ASC 260, Earnings Per Share (dollars in thousands, except per share amounts):
Veris Residential, Inc.:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
Computation of Basic EPS 2023 2022 2023 2022
Loss from continuing operations after income tax expense $ (61,644) $ (22,589) $ (107,619) $ (15,917)
Add (deduct): Noncontrolling interests in consolidated joint ventures 592  726  1,815  2,484 
Add (deduct): Noncontrolling interests in Operating Partnership 5,322  2,613  10,016  2,929 
Add (deduct): Redeemable noncontrolling interests (350) (6,365) (7,333) (19,168)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders —  1,279  (4,516) (5,187)
Loss from continuing operations available to common shareholders $ (56,080) $ (24,336) $ (107,637) $ (34,859)
Income (loss) from discontinued operations available to common shareholders 1,273  (75,603) 907  (54,265)
Net loss available to common shareholders for basic earnings per share (54,807) (99,939) (106,730) (89,124)
Weighted average common shares 92,177  91,087  91,762  91,022 
Basic EPS:
Loss from continuing operations available to common shareholders $ (0.61) $ (0.27) $ (1.17) $ (0.38)
Income (loss) from discontinued operations available to common shareholders 0.01  (0.83) 0.01  (0.60)
Net loss available to common shareholders $ (0.60) $ (1.10) $ (1.16) $ (0.98)
Three Months Ended
September 30,		 Nine Months Ended
September 30,
Computation of Diluted EPS 2023 2022 2023 2022
Net loss from continuing operations available to common shareholders $ (56,080) $ (24,336) $ (107,637) $ (34,859)
Add (deduct): Noncontrolling interests in Operating Partnership (5,322) (2,613) (10,016) (2,929)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to the Operating Partnership unitholders —  131  (461) (520)
Loss from continuing operations for diluted earnings per share (61,402) (26,818) (118,114) (38,308)
Income (loss) from discontinued operations for diluted earnings per share 1,394  (83,313) 1,004  (59,862)
Net loss available for diluted earnings per share $ (60,008) $ (110,131) $ (117,110) $ (98,170)
Weighted average common shares 100,925  100,378  100,770  100,215 
Diluted EPS:
Loss from continuing operations available to common shareholders $ (0.61) $ (0.27) $ (1.17) $ (0.38)
Income (loss) from discontinued operations available to common shareholders 0.01  (0.83) 0.01  (0.60)
Net loss available to common shareholders $ (0.60) $ (1.10) $ (1.16) $ (0.98)
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):
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2023 2022 2023 2022
Basic EPS shares 92,177  91,087  91,762  91,022 
Add: Operating Partnership – common and vested LTIP units 8,748  9,291  9,008  9,193 
Diluted EPS Shares 100,925  100,378  100,770  100,215 
Veris Residential, L.P.:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
Computation of Basic EPU 2023 2022 2023 2022
Loss from continuing operations after income tax expense $ (61,644) $ (22,589) $ (107,619) $ (15,917)
Add (deduct): Noncontrolling interests in consolidated joint ventures 592  726  1,815  2,484 
Add (deduct): Redeemable noncontrolling interests (350) (6,365) (7,333) (19,168)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests —  1,410  (4,977) (5,707)
Loss from continuing operations available to unitholders (61,402) (26,818) (118,114) (38,308)
Income (loss) from discontinued operations available to unitholders 1,394  (83,313) 1,004  (59,862)
Net loss available to common unitholders for basic earnings per unit $ (60,008) $ (110,131) $ (117,110) $ (98,170)
Weighted average common units 100,925  100,378  100,770  100,215 
Basic EPU:
Loss from continuing operations available to unitholders $ (0.61) $ (0.27) $ (1.17) $ (0.38)
Income (loss) from discontinued operations available to unitholders 0.01  (0.83) 0.01  (0.60)
Net loss available to common unitholders for basic earnings per unit $ (0.60) $ (1.10) $ (1.16) $ (0.98)
Three Months Ended
September 30,		 Nine Months Ended
September 30,
Computation of Diluted EPU 2023 2022 2023 2022
Loss from continuing operations available to common unitholders $ (61,402) $ (26,818) $ (118,114) $ (38,308)
Income (loss) income from discontinued operations for diluted earnings per unit 1,394  (83,313) 1,004  (59,862)
Net loss available to common unitholders for diluted earnings per unit $ (60,008) $ (110,131) $ (117,110) $ (98,170)
Weighted average common unit 100,925  100,378  100,770  100,215 
Diluted EPU:
Loss from continuing operations available to common unitholders $ (0.61) $ (0.27) $ (1.17) $ (0.38)
Income (loss) from discontinued operations available to common unitholders 0.01  (0.83) 0.01  (0.60)
Net loss available to common unitholders $ (0.60) $ (1.10) $ (1.16) $ (0.98)
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):
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2023 2022 2023 2022
Basic EPU units 100,925  100,378  100,770  100,215 
Diluted EPU Units 100,925  100,378  100,770  100,215