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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company operates in two business segments: (i) multifamily real estate and services and (ii) commercial and other real estate. The Company provides property management, leasing, acquisition, development, construction and tenant-related services for its commercial and other real estate and multifamily real estate portfolio. The Company’s multifamily services business also provides similar services for third parties. The Company had no revenues from foreign countries recorded for the six months ended June 30, 2022 and 2021. The Company had no long lived assets in foreign locations as of June 30, 2022 and December 31, 2021. The accounting policies of the segments are the same as those described in Note 2: Significant Accounting Policies, excluding depreciation and amortization.
The Company evaluates performance based upon net operating income from the combined properties and operations in each of its real estate segments (commercial and other real estate and multifamily real estate and services). All properties classified as discontinued operations have been excluded.
Selected results of operations for the three and six months ended June 30, 2022 and 2021 and selected asset information as of June 30, 2022 and December 31, 2021 regarding the Company’s operating segments are as follows. Amounts for prior periods have been restated to conform to the current period segment reporting presentation (dollars in thousands):
Commercial
& Other Real Estate		Multifamily
Real Estate & Services (d)		Corporate
& Other (e)		Total
Company
Total revenues:
Three months ended:
June 30, 2022$27,392 $52,876 $(442)$79,826 
June 30, 202139,886 40,279 (478)79,687 
Six months ended:
June 30, 2022$79,010 $99,393 $(944)$177,459 
June 30, 202177,581 77,596 (957)154,220 
Total operating and interest expenses (a):
Three months ended:
June 30, 2022$13,645 $26,221 $27,714 $67,580 
June 30, 202115,946 30,909 27,732 74,587 
Six months ended:
June 30, 2022$30,777 $51,008 $57,333 $139,118 
June 30, 202135,270 53,065 52,182 140,517 
Equity in earnings (loss) of unconsolidated joint ventures:
Three months ended:
June 30, 2022$— $2,638 $— $2,638 
June 30, 2021(14)363 — 349 
Six months ended:
June 30, 2022$— $2,151 $— $2,151 
June 30, 2021(133)(974)— (1,107)
Net operating income (loss) (b):
Three months ended:
June 30, 2022$13,747 $29,293 $(28,156)$14,884 
June 30, 202123,926 9,733 (28,210)5,449 
Six months ended:
June 30, 2022$48,233 $50,536 $(58,277)$40,492 
June 30, 202142,178 23,557 (53,139)12,596 
Total assets:
June 30, 2022$952,889 $3,344,869 $13,239 $4,310,997 
December 31, 20211,216,717 3,294,226 16,375 4,527,318 
Total long-lived assets (c):
June 30, 2022$881,373 $3,038,397 $(1,602)$3,918,168 
December 31, 20211,087,198 3,098,492 (1,309)4,184,381 
Total investments in unconsolidated joint ventures:
June 30, 2022$— 132,790 $— $132,790 
December 31, 2021— 137,772 — 137,772 
(a)Total operating and interest expenses represent the sum of: real estate taxes; utilities; operating services; real estate services expenses; general and administrative, acquisition related costs and interest expense (net of interest income). All interest expense, net of interest and other investment 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 and classified 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 and unbilled rents receivable.
(d)Segment assets and operations were owned through a consolidated and variable interest entity commencing in February 2018, and which also include the Company’s consolidated hotel operations.
(e)Corporate & Other represents all corporate-level items (including interest and other investment income, interest expense, non-property general and administrative expense), as well as intercompany eliminations necessary to reconcile to consolidated Company totals.
Veris Residential, Inc.
The following schedule reconciles net operating income to net income (loss) available to common shareholders (dollars in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
Net operating income$14,884$5,449$40,492$12,596
Add (deduct):
Depreciation and amortization(27,733)(28,498)(53,851)(56,276)
Property Impairments— (6,041)— (6,041)
Land and other impairments, net(3,900)(7,519)(6,832)(7,932)
Realized gains (losses) and unrealized losses on disposition of rental property, net—3,5211,8363,521
Gain on disposition of developable land55,12511157,748111
Gain (loss) from extinguishment of debt, net(129)(46,735)(6,418)(46,735)
Income (loss) from continuing operations38,247 (79,712)32,975 (100,756)
Discontinued operations
Income from discontinued operations8433,6011,58815,385
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net(4,440)2,080(4,440)24,861
Total discontinued operations, net(3,597)5,681(2,852)40,246
Net income (loss)34,650 (74,031)30,123 (60,510)
Noncontrolling interests in consolidated joint ventures7841,1981,7582,533
Noncontrolling interests in Operating Partnership(3,029)7,742(2,064)10,122
Noncontrolling interest in discontinued operations334(517)267(3,659)
Redeemable noncontrolling interests(6,366)(6,471)(12,803)(12,942)
Net income (loss) available to common shareholders$26,373 $(72,079)$17,281 $(64,456)
Veris Residential, L.P.
The following schedule reconciles net operating income to net income (loss) available to common unitholders (dollars in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
Net operating income$14,884$5,449$40,492$12,596
Add (deduct):
Depreciation and amortization(27,733)(28,498)(53,851)(56,276)
Property Impairments— (6,041)— (6,041)
Land and other impairments, net(3,900)(7,519)(6,832)(7,932)
Realized gains (losses) and unrealized losses on disposition of rental property, net— 3,5211,836 3,521
Gain on disposition of developable land55,125 11157,748 111
Gain (loss) from extinguishment of debt, net(129)(46,735)(6,418)(46,735)
Income (loss) from continuing operations38,247 (79,712)32,975 (100,756)
Discontinued operations
Income from discontinued operations8433,6011,58815,385
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net(4,440)2,080(4,440)24,861
Total discontinued operations, net(3,597)5,681(2,852)40,246
Net income (loss)34,650 (74,031)30,123 (60,510)
Noncontrolling interests in consolidated joint ventures7841,1981,7582,533
Redeemable noncontrolling interests(6,366)(6,471)(12,803)(12,942)
Net income (loss) available to common unitholders$29,068 $(79,304)$19,078 $(70,919)