VERIS RESIDENTIAL, INC. (VRE)

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VERIS RESIDENTIAL, INC.

VRE • CIK 0000924901

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$-156,701	$-30,697	$75,057	$73,350
Income Tax Expense (Benefit)	$492	$276	$231	$258
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$-157,193	$-30,973	$74,826	$73,092
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-112,361	$-26,664	$78,941	$77,071
Noncontrolling Interest in Net Income (Loss) Joint Venture Partners, Nonredeemable	$-2,319	$-1,924	$-3,538	$-1,813
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Nonredeemable	$-14,267	$-2,531	$6,569	$6,294
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	$7,618	$540	$324	$324
Net Income (Loss) Attributable to Parent	$-107,265	$-23,120	$75,239	$71,930
Weighted Average Number of Shares Outstanding, Basic	91,883,000	92,695,000	93,355,000	93,891,000
Weighted Average Number of Shares Outstanding, Diluted	100,812,000	101,381,000	102,363,000	102,809,000
Revenues	$279,859	$271,074	$288,434	$290,780
Real Estate Tax Expense	$40,810	$37,424	$38,361	$36,905
Cost of Goods and Services Sold	$9,922	$8,151	$9,290	$9,363
Operating Costs and Expenses	$57,925	$48,239	$47,962	$47,631
General and Administrative Expense	$44,472	$39,059	$36,753	$37,234
Depreciation, Depletion and Amortization, Nonproduction	$93,589	$82,774	$86,263	$86,236
Costs and Expenses	$310,373	$237,078	$257,036	$262,851
Interest Expense	$89,355	$87,976	$88,579	$83,490
Income (Loss) from Equity Method Investments	$3,102	$3,934	$5,257	$1,875
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$0	—	$90,831	$90,831
Equity Method Investment, Realized Gain (Loss) on Disposal	$0	$6,946	$5,122	$5,122
Gain (Loss) on Extinguishment of Debt	$-5,606	$-777	$-3,530	$-3,530
Other Nonoperating Income (Expense)	$2,871	$-701	$148	$-30
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	$3,150	$862	$4,115	$4,115
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	$41,682	$3,447	$0	$0
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$44,832	$4,309	$4,115	$3,979
Net Income (Loss) Available to Common Stockholders, Basic	$-111,781	$-23,120	$75,239	$71,930
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic	$-152,741	$-27,058	$71,471	$68,287
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Diluted	$-167,469	$-29,589	$78,040	$74,581
Net Income (Loss) Available to Common Stockholders, Diluted	$-122,637	$-25,280	$82,155	$78,560

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Investment Building and Building Improvements	$2,782,468	$2,634,321	$2,584,333	$2,586,369
Cash and Cash Equivalents, at Carrying Value	$28,007	$7,251	$14,128	$9,415
Tenant Improvements	$30,908	$14,784	$16,745	$17,438
Restricted Cash and Cash Equivalents	$26,572	$17,059	$15,232	$13,687
Fixtures and Equipment, Gross	$103,613	$112,201	$118,797	$120,408
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$117,954	$111,301	$52,188	$51,925
Real Estate Investment Property, at Cost	$3,391,488	$3,220,252	$3,096,585	$3,100,925
Deferred Rent Receivables, Net	$5,500	$2,253	$3,643	$3,505
Real Estate Investment Property, Accumulated Depreciation	$443,781	$432,531	$516,404	$537,316
Other Assets	$53,956	$48,476	$40,588	$36,241
Real Estate Investment Property, Net	$2,947,707	$2,787,721	$2,580,181	$2,580,181
Accounts Receivable, after Allowance for Credit Loss	$2,742	$1,375	$911	$1,303
Assets	$3,241,046	$2,982,727	$2,706,871	$2,679,685
Long-term Line of Credit	—	$348,839	$30,000	$124,000
Secured Debt	$1,853,897	$1,323,474	$1,332,158	$1,237,339
Accounts Payable and Accrued Liabilities	$55,492	$42,744	$44,610	$44,045
Interest Payable	$6,580	$5,262	$5,031	$5,058
Liabilities	$1,936,494	$1,740,364	$1,431,915	$1,430,889
Redeemable Noncontrolling Interest, Equity, Carrying Amount	$24,999	$9,294	$9,294	$9,294
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$1,279,553	$1,233,069	$1,265,662	$1,239,502
Common Stock, Value, Issued	$922	$929	$934	$938
Additional Paid in Capital	$2,553,060	$2,564,495	$2,572,743	$2,571,857
Retained Earnings (Accumulated Deficit)	$-1,418,312	$-1,466,187	$-1,421,369	$-1,443,045
Accumulated Other Comprehensive Income (Loss), Net of Tax	$1,808	$154	$-687	$-257
Stockholders' Equity Attributable to Parent	$1,137,478	$1,099,391	$1,151,621	$1,129,493
Noncontrolling Interest in Operating Partnerships	$107,206	$102,588	$105,849	$102,473
Noncontrolling Interest in Joint Ventures	$34,869	$31,090	$8,192	$7,536
Stockholders' Equity Attributable to Noncontrolling Interest	$142,075	$133,678	$114,041	$110,009
Common Stock, Shares Authorized	190,000,000	190,000,000	190,000,000	190,000,000
Common Stock, Shares, Outstanding	92,229,424	92,912,253	93,432,649	93,838,017
Dividends Payable	$5,540	$8,500	$8,700	$8,600

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-112,361	$-26,664	$78,941	$77,071
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$44,832	$4,309	$4,115	$3,979
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$-157,193	$-30,973	$74,826	$73,092
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	—	$-30,269	$5,050	$994
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	$46,325	$54,293	$71,365	$72,379
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$54,579	$24,310	$29,360	$30,354
Cash Provided by (Used in) Operating Activities, Discontinued Operations	$-785	$-1,965	$4,602	$4,438
Net Cash Provided by (Used in) Operating Activities	$45,540	$52,328	$75,967	$76,817
Payments to Acquire Other Productive Assets	$12,464	$18,369	$31,358	$31,358
Proceeds from Sale of Buildings	$23,035	$88,962	$163,034	$155,895
Proceeds from Divestiture of Interest in Joint Venture	$0	$6,095	$7,129	$7,129
Proceeds from Collection of Loans Receivable	$1,303	$32	$0	$0
Payments to Acquire Interest in Joint Venture	$762	$276	$0	$0
Proceeds from Insurance Settlement, Investing Activities	$3,812	$0	$0	$0
Payments for (Proceeds from) Other Investing Activities	$-1,030	$-250	$0	$0
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	$19,627	$82,970	$445,432	$445,432
Cash Provided by (Used in) Investing Activities, Discontinued Operations	$560,023	$79,081	$0	$0
Net Cash Provided by (Used in) Investing Activities	$579,650	$162,051	$445,432	$438,056
Proceeds from Unsecured Lines of Credit	$81,000	$174,000	$248,000	$327,000
Repayments of Lines of Credit	$81,000	$22,000	$370,000	$351,000
Proceeds from Issuance of Secured Debt	$115,000	$200,000	$0	$0
Repayments of Secured Debt	$115,000	$0	$200,000	$200,000
Proceeds from (Payments for) Deposits Applied to Debt Retirements	$-255	$0	$0	$0
Payments for Repurchase of Common Stock	$142	$0	$456	$1,131
Payments of Financing Costs	$16,158	$17,255	$1,582	$1,567
Proceeds from Noncontrolling Interests	$84	$203	$225	$155
Payments to Noncontrolling Interests	$409	$2,055	$19,585	$19,683
Payments for Repurchase of Redeemable Noncontrolling Interest	$17,121	$545	$324	$324
Payments of Capital Distribution	$5,123	$24,052	$33,005	$33,261
Payment, Tax Withholding, Share-based Payment Arrangement	—	—	$4,416	$5,561
Net Cash Provided by (Used in) Financing Activities	$-618,260	$-244,648	$-516,349	$-513,879
Depreciation, Depletion and Amortization	$93,542	$82,744	$86,245	$86,224
Amortization of Debt Issuance Costs and Discounts	$4,416	$10,587	$9,386	$8,438
Income (Loss) from Equity Method Investments	$3,102	$3,934	$5,257	$1,875
Equity Method Investment, Realized Gain (Loss) on Disposal	$0	$6,946	$5,122	$5,122
Gain (Loss) on Extinguishment of Debt	$-5,606	$-777	$-3,530	$-3,530
Noncash or Part Noncash Acquisition, Payables Assumed	—	—	$180,969	$180,969
Mortgage Loan Related to Property Sales	—	—	$41,000	$41,000
Increase (Decrease) in Other Operating Assets	$-2,081	$-5,030	$-2,779	$-4,273
Increase (Decrease) in Leasing Receivables	$-215	$-165	$-326	$272
Increase (Decrease) in Accounts Payable and Accrued Liabilities	$-4,263	$-5,487	$1,809	$3,602
Increase (Decrease) in Interest Payable, Net	$42	$-1,318	$-231	$-174
Restricted Cash and Cash Equivalents	$26,572	$17,059	$15,232	$14,407

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Import this data to Google Sheets with:

=jivedata("VRE","financials")

Full statements spill as a table. For one cell: =jivedata("VRE","Revenue") or =jivedata("VRE","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.