Company: VRE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000924901-25-000011
Chunk: 71

Company: Veris Residential, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 16
Chunk 71
---
. Pursuant to the retirement of a director from the Board of Directors in May 2023, the Company converted 20,767 deferred stock units into shares of common stock.EARNINGS PER SHARE/UNITBasic EPS or EPU excludes dilution and is computed by dividing net income available to common shareholders or unitholders by the weighted average number of shares or units outstanding for the period. Diluted EPS or EPU reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. In the calculation of basic and diluted EPS and EPU, a redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders or unitholders is included in the calculation to arrive at the numerator of net income (loss) available to common shareholders or unitholders.The following information presents the Company’s results for the years ended December 31, 2024, 2023 and 2022 in accordance with ASC 260, Earnings Per Share (dollars in thousands, except per share amounts):Veris Residential, Inc.: Year Ended December 31,Computation of Basic EPS202420232022Income (loss) from continuing operations after income tax expense$(30,973)$(121,357)$(39,384)Add (deduct): Noncontrolling interests in consolidated joint ventures1,924 2,319 3,079 Add (deduct): Noncontrolling interests in Operating Partnership2,531 11,174 5,688 Add (deduct): Redeemable noncontrolling interests(540)(7,618)(25,534)Add (deduct): Redemption value adjustment of redeemable noncontrolling interests attributable to common shareholders— (4,516)(5,475)Income (loss) from continuing operations available to common shareholders(27,058)(119,998)(61,626)Income (loss) from discontinued operations available to common shareholders3,938 8,217 4,085 Net income (loss) available to common shareholders for basic earnings per share$(23,120)$(111,781)$(57,541)Weighted average common shares92,695 91,883 91,046 Basic EPS:Income (loss) from continuing operations available to common shareholders$(0.29)$(1.31)$(0.68)Income (loss) from discontinued operations available to common shareholders0.04 0.09 0.05 Net income (