Company: VRE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000924901-25-000011
Chunk: 102

Company: Veris Residential, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 102
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 Residential, L.P. partners’ capital1,201,979 1,244,684 Noncontrolling interests in consolidated joint ventures31,090 34,869 Total equity1,233,069 1,279,553 Total liabilities and equity$2,982,727 $3,241,046 

The accompanying notes are an integral part of these consolidated financial statements. 

48

VERIS RESIDENTIAL, L.P. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per unit amounts) 

 Year Ended December 31,REVENUES202420232022Revenue from leases$245,690 $235,117 $188,180 Management fees3,338 3,868 3,581 Parking income15,463 15,498 13,558 Other income6,583 5,812 8,036 Total revenues271,074 260,295 213,355 EXPENSESReal estate taxes37,424 34,687 33,995 Utilities8,151 7,700 7,018 Operating services48,239 50,769 47,200 Property management17,247 14,188 10,549 General and administrative39,059 44,443 55,919 Transaction-related costs1,565 7,627 3,468 Depreciation and amortization82,774 86,235 77,903 Land and other impairments, net2,619 9,324 9,368 Total expenses237,078 254,973 245,420 OTHER (EXPENSE) INCOMEInterest expense(87,976)(89,355)(66,381)Interest cost of mandatorily redeemable noncontrolling interests— (49,782)— Interest and other investment income2,366 5,515 729 Equity in earnings (loss) of unconsolidated joint ventures3,934 3,102 1,200 Gain (loss) on disposition of developable land11,515 7,068 57,262 Gain (loss) on sale of unconsolidated joint venture interests6,946 — — Gain (loss) from extinguishment of debt, net(777)(5,606)(129)Other income (expense), net(701)2,871 — Total other income (