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

9 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

The following table reflects the activity of the General Partner capital for the three and nine months ended September 30, 2022 and 2021, respectively (dollars in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Opening Balance	$	1,296,280	$	1,335,226	$	1,281,982	$	1,398,817
Net income (loss) available to common shareholders	(101,218)		(28,314)		(83,937)		(92,770)

Redeemable noncontrolling interests	1,279		(1,562)		(5,187)		(4,903)
Redemption of common units for common stock	—		—		161		2,716
Shares issued under Dividend Reinvestment and Stock Purchase Plan	(4)		4		23		33
Directors' deferred compensation plan	110		91		330		229
Stock Compensation	2,790		1,632		7,256		3,517
Cancellation of common stock	(156)		—		(852)		(118)
Other comprehensive income (loss)	2,338		—		4,270		—
Rebalancing of ownership percent between parent and subsidiaries	160		948		(2,467)		504
Balance at September 30	$	1,201,579	$	1,308,025	$	1,201,579	$	1,308,025

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, 2022 and 2021 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	2022		2021		2022		2021
Income (loss) from continuing operations	$	(106,948)	$	(27,446)	$	(73,973)	$	(128,202)
Add (deduct): Noncontrolling interests in consolidated joint ventures	726		1,137		2,484		3,670
Add (deduct): Noncontrolling interests in Operating Partnership	10,420		2,962		8,356		13,084
Add (deduct): Redeemable noncontrolling interests	(6,365)		(6,471)		(19,168)		(19,413)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders	1,279		(1,562)		(5,187)		(4,903)
Income (loss) from continuing operations available to common shareholders	$	(100,888)	$	(31,380)	$	(87,488)	$	(135,764)
Income (loss) from discontinued operations available to common shareholders	949		1,504		(1,636)		38,091
Net income (loss) available to common shareholders for basic earnings per share	(99,939)		(29,876)		(89,124)		(97,673)

Weighted average common shares	91,087		90,941		91,022		90,803

Basic EPS:
Income (loss) from continuing operations available to common shareholders	$	(1.11)	$	(0.35)	$	(0.96)	$	(1.50)
Income (loss) from discontinued operations available to common shareholders	0.01		0.02		(0.02)		0.42
Net income (loss) available to common shareholders	$	(1.10)	$	(0.33)	$	(0.98)	$	(1.08)


	Three Months Ended September 30,				Nine Months Ended September 30,
Computation of Diluted EPS	2022		2021		2022		2021
Net income (loss) from continuing operations available to common shareholders	$	(100,888)	$	(31,380)	$	(87,488)	$	(135,764)
Add (deduct): Noncontrolling interests in Operating Partnership	(10,420)		(2,962)		(8,356)		(13,084)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to the Operating Partnership unitholders	131		(155)		(520)		(489)
Income (loss) from continuing operations for diluted earnings per share	(111,177)		(34,497)		(96,364)		(149,337)
Income (loss) from discontinued operations for diluted earnings per share	1,046		1,654		(1,806)		41,900
Net income (loss) available for diluted earnings per share	$	(110,131)	$	(32,843)	$	(98,170)	$	(107,437)

Weighted average common shares	100,378		99,975		100,215		99,870

Diluted EPS:
Income (loss) from continuing operations available to common shareholders	$	(1.11)	$	(0.35)	$	(0.96)	$	(1.50)
Income (loss) from discontinued operations available to common shareholders	0.01		0.02		(0.02)		0.42
Net (income) loss available to common shareholders	$	(1.10)	$	(0.33)	$	(0.98)	$	(1.08)

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,
	2022	2021	2022	2021
Basic EPS shares	91,087	90,941	91,022	90,803
Add: Operating Partnership – common and vested LTIP units	9,291	9,034	9,193	9,067


Diluted EPS Shares	100,378	99,975	100,215	99,870

Veris Residential, L.P.:


	Three Months Ended September 30,				Nine Months Ended September 30,
Computation of Basic EPU	2022		2021		2022		2021
Income (loss) from continuing operations	$	(106,948)	$	(27,446)	$	(73,973)	$	(128,202)
Add (deduct): Noncontrolling interests in consolidated joint ventures	726		1,137		2,484		3,670
Add (deduct): Redeemable noncontrolling interests	(6,365)		(6,471)		(19,168)		(19,413)
Add (deduct): Redemption value adjustment of redeemable noncontrolling interests	1,411		(1,717)		(5,706)		(5,392)
Income (loss) from continuing operations available to unitholders	(111,176)		(34,497)		(96,363)		(149,337)
Income (loss) from discontinued operations available to unitholders	1,046		1,654		(1,806)		41,900
Net income (loss) available to common unitholders for basic earnings per unit	$	(110,130)	$	(32,843)	$	(98,169)	$	(107,437)

Weighted average common units	100,378		99,975		100,215		99,870

Basic EPU:
Income (loss) from continuing operations available to unitholders	$	(1.11)	$	(0.35)	$	(0.96)	$	(1.50)
Income (loss) from discontinued operations available to unitholders	0.01		0.02		(0.02)		0.42
Net income (loss) available to common unitholders for basic earnings per unit	$	(1.10)	$	(0.33)	$	(0.98)	$	(1.08)

	Three Months Ended September 30,				Nine Months Ended September 30,
Computation of Diluted EPU	2022		2021		2022		2021
Net income (loss) from continuing operations available to common unitholders	$	(111,176)	$	(34,497)	$	(96,363)	$	(149,337)
Income (loss) from discontinued operations for diluted earnings per unit	1,046		1,654		(1,806)		41,900
Net income (loss) available to common unitholders for diluted earnings per unit	$	(110,130)	$	(32,843)	$	(98,169)	$	(107,437)

Weighted average common unit	100,378		99,975		100,215		99,870

Diluted EPU:
Income (loss) from continuing operations available to common unitholders	$	(1.11)	$	(0.35)	$	(0.96)	$	(1.50)
Income (loss) from discontinued operations available to common unitholders	0.01		0.02		(0.02)		0.42
Net income (loss) available to common unitholders	$	(1.10)	$	(0.33)	$	(0.98)	$	(1.08)

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,
	2022	2021	2022	2021
Basic EPU units	100,378	99,975	100,215	99,870


Diluted EPU Units	100,378	99,975	100,215	99,870