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Income (Loss) Per Share/Income (Loss) Per Class A Unit
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Income (Loss) Per Share/Income (Loss) Per Class A Unit Income (Loss) Per Share/Income (Loss) Per Class A Unit
Vornado Realty Trust
The following table presents the calculations of (i) basic income (loss) per common share which includes the weighted average number of common shares outstanding without regard to dilutive potential common shares and (ii) diluted income (loss) per common share which includes the weighted average common shares and dilutive share equivalents. Unvested share-based payment awards that contain nonforfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. Earnings are allocated to participating securities, which include restricted stock awards, based on the two-class method. Other potential dilutive share equivalents such as our employee stock options, restricted Operating Partnership units ("OP Units"), out-performance plan awards ("OPPs"), appreciation-only long term incentive plan units ("AO LTIP Units") and Performance Conditioned AO LTIP Units are included in the computation of diluted Earnings Per Share ("EPS") using the treasury stock method, while the dilutive effect of our Series A convertible preferred shares is reflected in diluted EPS by application of the if-converted method.
(Amounts in thousands, except per share amounts)For the Three Months Ended June 30,For the Six Months Ended June 30,
2021202020212020
Numerator:
Net income (loss) attributable to Vornado$64,512 $(185,220)$85,062 $(167,726)
Preferred share dividends(16,467)(12,530)(32,934)(25,061)
Net income (loss) attributable to common shareholders48,045 (197,750)52,128 (192,787)
Earnings allocated to unvested participating securities(9)(18)(18)(69)
Numerator for basic and diluted income (loss) per share$48,036 $(197,768)$52,110 $(192,856)
Denominator:
Denominator for basic income (loss) per share – weighted average shares 191,527 191,104 191,473 191,071 
Effect of dilutive securities(1):
Out-Performance Plan units830 — 719 — 
AO LTIP units18 — 11 — 
Employee stock options and restricted stock awards5 — 4 — 
Denominator for diluted income (loss) per share – weighted average shares and assumed conversions192,380 191,104 192,207 191,071 
INCOME (LOSS) PER COMMON SHARE - BASIC:
Net income (loss) per common share$0.25 $(1.03)$0.27 $(1.01)
INCOME (LOSS) PER COMMON SHARE - DILUTED:
Net income (loss) per common share$0.25 $(1.03)$0.27 $(1.01)
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(1)The effect of dilutive securities excluded an aggregate of 13,653 and 14,242 weighted average common share equivalents for the three months ended June 30, 2021 and 2020, respectively, and 13,783 and 13,992 weighted average common share equivalents for the six months ended June 30, 2021 and 2020, respectively, as their effect was anti-dilutive.
19.    Income (Loss) Per Share/Income (Loss) Per Class A Unit - continued
Vornado Realty L.P.
The following table presents the calculations of (i) basic income (loss) 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 income (loss) per Class A unit which includes the weighted average Class A units and dilutive Class A unit equivalents. Unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. Earnings are allocated to participating securities, which include Vornado restricted stock awards, OP Units and OPPs, based on the two-class method. Other potential dilutive unit equivalents such as Vornado stock options, AO LTIP Units and Performance Conditioned AO LTIP Units are included in the computation of diluted income per unit ("EPU") using the treasury stock method, while the dilutive effect of our Series A convertible preferred units is reflected in diluted EPU by application of the if-converted method.
(Amounts in thousands, except per unit amounts)For the Three Months Ended June 30,For the Six Months Ended June 30,
2021202020212020
Numerator:
Net income (loss) attributable to Vornado Realty L.P.$68,048 $(199,584)$88,927 $(181,700)
Preferred unit distributions(16,508)(12,571)(33,016)(25,143)
Net income (loss) attributable to Class A unitholders51,540 (212,155)55,911 (206,843)
Earnings allocated to unvested participating securities(664)(1,439)(1,385)(6,357)
Numerator for basic and diluted income (loss) per Class A unit$50,876 $(213,594)$54,526 $(213,200)
Denominator:
Denominator for basic income (loss) per Class A unit – weighted average units204,621 203,512 204,560 203,441 
Effect of dilutive securities(1):
Vornado stock options, Vornado restricted stock awards, OP Units, AO LTIP Units and OPPs1,193 — 1,012 — 
Denominator for diluted income (loss) per Class A unit – weighted average units and assumed conversions205,814 203,512 205,572 203,441 
INCOME (LOSS) PER CLASS A UNIT - BASIC:
Net income (loss) per Class A unit$0.25 $(1.05)$0.27 $(1.05)
INCOME (LOSS) PER CLASS A UNIT - DILUTED:
Net income (loss) per Class A unit$0.25 $(1.05)$0.27 $(1.05)
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(1)The effect of dilutive securities excluded an aggregate of 219 and 1,834 weighted average Class A unit equivalents for the three months ended June 30, 2021 and 2020, respectively, and 418 and 1,622 Class A unit equivalents for the six months ended June 30, 2021 and 2020, respectively, as their effect was anti-dilutive.