Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 35

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per unit amounts) (unaudited)

Three Months EndedMarch 31,REVENUES20252024Revenue from leases$61,965 $60,642 Management fees718 922 Parking income3,749 3,745 Other income1,324 2,031 Total revenues67,756 67,340 EXPENSESReal estate taxes9,212 9,177 Utilities2,807 2,271 Operating services10,993 12,570 Property management4,385 5,242 General and administrative10,068 11,088 Transaction related costs308 516 Depreciation and amortization21,253 20,117 Land and other impairments, net3,200 — Total expenses62,226 60,981 OTHER (EXPENSE) INCOMEInterest expense(22,960)(21,500)Interest and other investment income25 538 Equity in earnings (losses) of unconsolidated joint ventures3,842 254 Gain (loss) on disposition of developable land(156)784 Gain (loss) on sale of unconsolidated joint venture interests— 7,100 Other income (expense), net(105)255 Total other (expense) income, net(19,354)(12,569)Income (loss) from continuing operations before income tax expense(13,824)(6,210)Provision for income taxes(42)(59)Income (loss) from continuing operations after income tax expense(13,866)(6,269)Discontinued operations:Income (loss) from discontinued operations136 252 Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net— 1,548 Total discontinued operations, net136 1,800 Net income (loss)(13,730)(4,469)Noncontrolling interests in consolidated joint ventures2,125 495 Redeemable noncontrolling interests(81)(297)Net income (loss) available to common unitholders$(11,686)$(4,271)Basic earnings per common unit:Income (loss) from continuing operations$(0.12)$(0.06)Discontinued operations— 0.02 Net income (loss) available to common unitholders$(0