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(Loss) Income Per Share / (Loss) Income Per Class A Unit
 3 Months Ended
Mar. 31, 2018
Earnings per share  
(Loss) Income Per Share / (Loss) Income Per Class A Unit
(Loss) Income Per Share/(Loss) Income Per Class A Unit

Vornado Realty Trust

The following table provides a reconciliation of both net income and the number of common shares used in the computation of (i) basic (loss) income per common share - which includes the weighted average number of common shares outstanding without regard to dilutive potential common shares, and (ii) diluted (loss) income per common share - which includes the weighted average common shares and dilutive share equivalents. Dilutive share equivalents may include our Series A convertible preferred shares, employee stock options, restricted stock awards and Out-Performance Plan awards.
(Amounts in thousands, except per share amounts)
For the Three Months Ended March 31,
 
 
2018
 
2017
Numerator:
 
 
 
 
Income from continuing operations, net of income attributable to noncontrolling interests
$
10,021

 
$
49,519

 
(Loss) income from discontinued operations, net of income attributable to noncontrolling interests
(341
)
 
14,362

 
Net income attributable to Vornado
9,680

 
63,881

 
Preferred share dividends
(13,035
)
 
(16,129
)
 
Preferred share issuance costs
(14,486
)
 
—

 
Net (loss) income attributable to common shareholders
(17,841
)
 
47,752

 
Earnings allocated to unvested participating securities
(11
)
 
(15
)
 
Numerator for basic and diluted (loss) income per share
$
(17,852
)
 
$
47,737

 
 
 
 
 
Denominator:
 
 
 
 
Denominator for basic (loss) income per share – weighted average shares
190,081

 
189,210

 
Effect of dilutive securities(1):
 
 
 
 
Employee stock options and restricted share awards
—

 
1,162

 
Denominator for diluted (loss) income per share – weighted average shares and assumed conversions
190,081

 
190,372

 
 
 
 
 
(LOSS) INCOME PER COMMON SHARE – BASIC:
 
 
 
 
(Loss) income from continuing operations, net
$
(0.09
)
 
$
0.18

 
Income from discontinued operations, net
—

 
0.07

 
Net (loss) income per common share
$
(0.09
)
 
$
0.25

 
 
 
 
 
(LOSS) INCOME PER COMMON SHARE – DILUTED:
 
 
 
 
(Loss) income from continuing operations, net
$
(0.09
)
 
$
0.18

 
Income from discontinued operations, net
—

 
0.07

 
Net (loss) income per common share
$
(0.09
)
 
$
0.25

____________________
(1)
The effect of dilutive securities for the three months ended March 31, 2018 and 2017 excludes an aggregate of 13,334 and 12,405 weighted average common share equivalents, respectively, as their effect was anti-dilutive.
Vornado Realty L.P.  
Earnings per share  
(Loss) Income Per Share / (Loss) Income Per Class A Unit
Vornado Realty L.P.

The following table provides a reconciliation of both net income and the number of Class A units used in the computation of (i) basic (loss) income per Class A unit - which includes the weighted average number of Class A units outstanding without regard to dilutive potential Class A units, and (ii) diluted (loss) income per Class A unit - which includes the weighted average Class A units and dilutive unit equivalents. Dilutive unit equivalents may include our Series A convertible preferred units, Vornado stock options, restricted unit awards and Out-Performance Plan awards.
(Amounts in thousands, except per unit amounts)
For the Three Months Ended March 31,
 
 
2018
 
2017
Numerator:
 
 
 
 
Income from continuing operations, net of income attributable to noncontrolling interests
$
8,919

 
$
51,792

 
(Loss) income from discontinued operations
(363
)
 
15,318

 
Net income attributable to Vornado Realty L.P.
8,556

 
67,110

 
Preferred unit distributions
(13,084
)
 
(16,178
)
 
Preferred unit issuance costs
(14,486
)
 
—

 
Net (loss) income attributable to Class A unitholders
(19,014
)
 
50,932

 
Earnings allocated to unvested participating securities
(771
)
 
(1,018
)
 
Numerator for basic and diluted (loss) income per Class A unit
$
(19,785
)
 
$
49,914

 
 
 
 
 
Denominator:
 
 
 
 
Denominator for basic (loss) income per Class A unit – weighted average units
201,929

 
200,845

 
Effect of dilutive securities(1):
 
 
 
 
Vornado stock options and restricted unit awards
—

 
1,802

 
Denominator for diluted (loss) income per Class A unit – weighted average units and assumed conversions
201,929

 
202,647

 
 
 
 
 
(LOSS) INCOME PER CLASS A UNIT – BASIC:
 
 
 
 
(Loss) income from continuing operations, net
$
(0.10
)
 
$
0.17

 
Income from discontinued operations, net
—

 
0.08

 
Net (loss) income per Class A unit
$
(0.10
)
 
$
0.25

 
 
 
 
 
(LOSS) INCOME PER CLASS A UNIT – DILUTED:
 
 
 
 
(Loss) income from continuing operations, net
$
(0.10
)
 
$
0.17

 
Income from discontinued operations, net
—

 
0.08

 
Net (loss) income per Class A unit
$
(0.10
)
 
$
0.25

____________________
(1)
The effect of dilutive securities for the three months ended March 31, 2018 and 2017 excludes an aggregate of 1,446 and 130 weighted average Class A unit equivalents, respectively, as their effect was anti-dilutive.