XML 67 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
REVENUES:        
Property rentals $ 540,124 $ 534,074 $ 1,068,224 $ 1,067,867
Tenant expense reimbursements 76,202 72,291 162,792 148,255
Cleveland Medical Mart development project 0 16,990 0 29,133
Fee and other income 50,280 47,861 96,208 144,674
Total revenues 666,606 671,216 1,327,224 1,389,929
EXPENSES:        
Operating 261,453 259,168 534,844 524,915
Depreciation and amortization 129,025 133,180 276,676 272,497
General and administrative 44,568 50,305 96,726 101,685
Cleveland Medical Mart development project 0 15,151 0 26,525
Impairment losses, acquisition and transaction related costs 4,083 3,350 25,867 3,951
Total expenses 439,129 461,154 934,113 929,573
Operating income 227,477 210,062 393,111 460,356
(Loss) income from partially owned entities (53,742) (35,389) (51,763) (12,864)
Income from Real Estate Fund 100,110 34,470 118,258 51,034
Interest and other investment income (loss), net 9,435 26,415 21,328 (22,660)
Interest and debt expense (117,051) (120,657) (226,493) (241,003)
Net gain (loss) on disposition of wholly owned and partially owned assets 905 1,005 10,540 (35,719)
Income before income taxes 167,134 115,906 264,981 199,144
Income tax expense (3,599) (2,877) (5,181) (3,950)
Income from continuing operations 163,535 113,029 259,800 195,194
Income from discontinued operations 2,152 69,292 4,043 276,054
Net income 165,687 182,321 263,843 471,248
Less net income attributable to noncontrolling interests in consolidated subsidiaries (63,975) (14,930) (75,554) (26,216)
Net income attributable to Vornado Realty L.P. 101,712 167,391 188,289 445,032
Preferred unit distributions (20,379) (20,716) (40,759) (43,204)
Preferred unit redemptions 0 8,100 0 (1,130)
NET INCOME attributable to Class A unitholders 81,333 154,775 147,530 400,698
INCOME PER CLASS A UNIT - BASIC:        
Income from continuing operations, net (in dollars per unit) $ 0.40 $ 0.43 $ 0.72 $ 0.62
Income from discontinued operations, net (in dollars per unit) $ 0.01 $ 0.35 $ 0.02 $ 1.40
Net income per Class A unit (in dollars per unit) $ 0.41 $ 0.78 $ 0.74 $ 2.02
Weighted average units outstanding (in units) 198,232 197,569 198,075 197,466
INCOME PER CLASS A UNIT - DILUTED:        
Income from continuing operations, net (in dollars per unit) $ 0.39 $ 0.43 $ 0.71 $ 0.62
Income from discontinued operations, net (in dollars per unit) $ 0.01 $ 0.35 $ 0.02 $ 1.39
Net income per Class A unit (in dollars per unit) $ 0.40 $ 0.78 $ 0.73 $ 2.01
Weighted average units outstanding (in units) 199,746 198,665 199,550 198,522
DISTRIBUTIONS PER CLASS A UNIT (in dollars per unit) $ 0.73 $ 0.73 $ 1.46 $ 1.46
Toys R Us [Member]
       
EXPENSES:        
(Loss) income from partially owned entities (57,591) (36,861) (55,744) (35,102)
All Equity Method Investees Excluding Toys [Member]
       
EXPENSES:        
(Loss) income from partially owned entities $ 3,849 $ 1,472 $ 3,981 $ 22,238