VERIS RESIDENTIAL, L.P. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) income $ (46,365) $ 30,123
Net loss (income) from discontinued operations 365 (23,344)
Net (loss) income from continuing operations (46,000) 6,779
Adjustments to reconcile net income (loss) to net cash provided by    
Depreciation and amortization, including related intangible assets 47,269 39,480
Amortization of deferred compensation stock units 196 220
Amortization of stock compensation 7,339 7,444
Amortization of deferred financing costs 1,808 2,358
Equity in earnings of unconsolidated joint ventures (2,633) (2,151)
Distributions of cumulative earnings from unconsolidated joint ventures 0 13
Loss (gain) on disposition of developable land 22 (57,748)
Land and other impairments, net 3,396 6,832
Gain on insurance proceeds (2,851) 0
Interest cost of mandatorily redeemable noncontrolling interests 13,390 0
Changes in operating assets and liabilities:    
Decrease in unbilled rents receivable, net 1,695 3,560
Increase in deferred charges and other assets (1,610) (3,894)
(Increase) decrease in accounts receivable, net (248) 225
Decrease in accounts payable, accrued expenses and other liabilities (7,188) (2,915)
Increase in rents received in advance and security deposits 502 2,171
Increase (decrease) in accrued interest payable 158 (39)
Net cash flows provided by operating activities - continuing operations 17,902 2,464
Net cash flows provided by operating activities - discontinued operations 6,462 43,246
Net cash provided by operating activities 24,364 45,710
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property acquisitions and related intangibles 0 (5,192)
Rental property additions, improvements and other costs (5,747) (8,147)
Development of rental property and other related costs (5,647) (40,673)
Proceeds from the sales of rental property 6,528 28,596
Repayment of notes receivable 1,257 1,433
Investment in unconsolidated joint ventures (98) (147)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 6,454 7,450
Proceeds from insurance settlements 3,239 0
Net cash provided by (used in) investing activities - continuing operations 5,986 (16,680)
Net cash provided by investing activities - discontinued operations 445,648 171,754
Net cash provided by investing activities 451,634 155,074
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 16,000 43,000
Repayment of revolving credit facility (16,000) (115,000)
Proceeds from mortgages and loans payable 0 149,068
Repayment of mortgages, loans payable and other obligations (84,258) (240,270)
Redemption of redeemable noncontrolling interests, net 0 (12,000)
Payment of early debt extinguishment costs (251) (5,140)
Common unit redemptions (94) (2,497)
Payment of financing costs (1,721) (3,025)
Contribution from noncontrolling interests 0 18
Distributions to redeemable noncontrolling interests (12,731) (12,908)
Payment of common dividends and distributions (38) (56)
Net cash used in financing activities (99,093) (198,810)
Net increase in cash and cash equivalents 376,905 1,974
Cash, cash equivalents and restricted cash, beginning of period [1] 47,649 51,455
Cash, cash equivalents and restricted cash, end of period [2] 424,554 53,429
VERIS RESIDENTIAL, L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) income (46,365) 30,123
Net loss (income) from discontinued operations 365 (23,344)
Net (loss) income from continuing operations (46,000) 6,779
Adjustments to reconcile net income (loss) to net cash provided by    
Depreciation and amortization, including related intangible assets 47,269 39,480
Amortization of deferred compensation stock units 196 220
Amortization of stock compensation 7,339 7,444
Amortization of deferred financing costs 1,808 2,358
Equity in earnings of unconsolidated joint ventures (2,633) (2,151)
Distributions of cumulative earnings from unconsolidated joint ventures 0 13
Loss (gain) on disposition of developable land 22 (57,748)
Land and other impairments, net 3,396 6,832
Gain on insurance proceeds (2,851) 0
Interest cost of mandatorily redeemable noncontrolling interests 13,390 0
Changes in operating assets and liabilities:    
Decrease in unbilled rents receivable, net 1,695 3,560
Increase in deferred charges and other assets (1,610) (3,894)
(Increase) decrease in accounts receivable, net (248) 225
Decrease in accounts payable, accrued expenses and other liabilities (7,188) (2,915)
Increase in rents received in advance and security deposits 502 2,171
Increase (decrease) in accrued interest payable 158 (39)
Net cash flows provided by operating activities - continuing operations 17,902 2,464
Net cash flows provided by operating activities - discontinued operations 6,462 43,246
Net cash provided by operating activities 24,364 45,710
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property acquisitions and related intangibles 0 (5,192)
Rental property additions, improvements and other costs (5,747) (8,147)
Development of rental property and other related costs (5,647) (40,673)
Proceeds from the sales of rental property 6,528 28,596
Repayment of notes receivable 1,257 1,433
Investment in unconsolidated joint ventures (98) (147)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 6,454 7,450
Proceeds from insurance settlements 3,239 0
Net cash provided by (used in) investing activities - continuing operations 5,986 (16,680)
Net cash provided by investing activities - discontinued operations 445,648 171,754
Net cash provided by investing activities 451,634 155,074
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 16,000 43,000
Repayment of revolving credit facility (16,000) (115,000)
Proceeds from mortgages and loans payable 0 149,068
Repayment of mortgages, loans payable and other obligations (84,258) (240,270)
Redemption of redeemable noncontrolling interests, net 0 (12,000)
Payment of early debt extinguishment costs (251) (5,140)
Common unit redemptions (94) (2,497)
Payment of financing costs (1,721) (3,025)
Contribution from noncontrolling interests 0 18
Distributions to redeemable noncontrolling interests (12,731) (12,908)
Payment of common dividends and distributions (38) (56)
Net cash used in financing activities (99,093) (198,810)
Net increase in cash and cash equivalents 376,905 1,974
Cash, cash equivalents and restricted cash, beginning of period [3] 47,649 51,455
Cash, cash equivalents and restricted cash, end of period [4] $ 424,554 $ 53,429
[1] Includes Restricted Cash of $20,867 and $19,701 as of December 31, 2022 and 2021, respectively.
[2] Includes Restricted Cash of $27,614 and $24,356 as of June 30, 2023 and 2022, respectively.
[3] Includes Restricted Cash of $20,867 and $19,701 as of December 31, 2022 and 2021, respectively.
[4] Includes Restricted Cash of $27,614 and $21,153 as of June 30, 2023 and 2022, respectively.