Company: VRE
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000924901-25-000051
Chunk: 15

Company: Veris Residential, Inc.
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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 the Company considers its primary earnings measure, net income available to common shareholders, as defined by GAAP, to be the most comparable earnings measure to FFO, the following table presents a reconciliation of net income 

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available to common shareholders to FFO, as calculated in accordance with NAREIT’s current definition, for the three and six months ended June 30, 2025 and 2024 (in thousands):

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Net income (loss) available to common shareholders$10,904 $2,922 $205 $(981)Add (deduct): Noncontrolling interests in Operating Partnership1,009 153 11 (370)Noncontrolling interests in discontinued operations(2)122 9 277 Real estate-related depreciation and amortization on continuing operations (a)23,231 22,514 46,676 45,146 Real estate-related depreciation and amortization on discontinued operations— — — 668 Continuing operations: (Gain) loss on sale from unconsolidated joint ventures(5,122)— (5,122)(7,100)Continuing operations: Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net6,877 — 6,877 — Discontinued operations: Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net— — — (1,548)Funds from operations available to common stock and Operating Partnership unitholders (b)$36,897 $25,711 $48,656 $36,092 

(a)Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interests of $0.9 million and $2.4 million for the three months ended June 30, 2025 and 2024, and $3.2 million and $5.1 million for the six months ended June 30, 2025 and 2024, respectively. Excludes non-real estate-related depreciation and amortization of $0.1 million and $0.2 million for the three months ended June 30, 2025 and 2024, respectively, and $0.3 million and $0.4 million for the six months ended June 30, 2025 and 2024