EX-99 4 exhibit991.htm EXHIBIT 99.1 exhibit991.htm - Generated by SEC Publisher for SEC Filing

 

 

EXHIBIT 99.1

ITEM 6. SELECTED FINANCIAL DATA

Year Ended December 31,

(Amounts in thousands, except per unit amounts)

2014 

2013 

2012 

2011 

2010 

Operating Data:

Revenues:

Property rentals

$

1,911,487 

$

1,880,405 

$

1,771,264 

$

1,802,871 

$

1,790,769 

Tenant expense reimbursements

245,819 

226,831 

207,149 

213,200 

217,999 

Cleveland Medical Mart development project

36,369 

235,234 

154,080 

Fee and other income

155,206 

155,571 

119,077 

123,452 

121,103 

Total revenues

2,312,512 

2,299,176 

2,332,724 

2,293,603 

2,129,871 

Expenses:

Operating

953,611 

928,565 

891,637 

878,777 

848,112 

Depreciation and amortization

481,303 

461,627 

435,545 

441,223 

416,324 

General and administrative

169,270 

177,366 

167,194 

163,238 

170,460 

Cleveland Medical Mart development project

32,210 

226,619 

145,824 

Acquisition and transaction related costs,

and impairment losses

18,435 

24,857 

17,386 

34,930 

38,563 

Total expenses

1,622,619 

1,624,625 

1,738,381 

1,663,992 

1,473,459 

Operating income

689,893 

674,551 

594,343 

629,611 

656,412 

Income (loss) from Real Estate Fund

163,034 

102,898 

63,936 

22,886 

(303)

(Loss) income applicable to Toys "R" Us

(73,556)

(362,377)

14,859 

48,540 

71,624 

Income from partially owned entities

15,425 

23,592 

408,267 

70,072 

14,601 

Interest and debt expense

(412,755)

(425,782)

(431,235)

(453,420)

(473,938)

Interest and other investment income (loss), net

38,752 

(24,887)

(261,200)

148,540 

234,768 

Net gain on disposition of wholly owned and partially

owned assets

13,568 

2,030 

4,856 

10,856 

81,432 

Net loss on extinguishment of debt

(10,782)

Income (loss) before income taxes

434,361 

(9,975)

393,826 

477,085 

573,814 

Income tax (expense) benefit

(9,281)

8,717 

(8,132)

(23,891)

(22,100)

Income (loss) from continuing operations

425,080 

(1,258)

385,694 

453,194 

551,714 

Income from discontinued operations

583,946 

565,998 

308,847 

286,806 

156,317 

Net income

1,009,026 

564,740 

694,541 

740,000 

708,031 

Less net income attributable to noncontrolling

interests in consolidated subsidiaries

(96,561)

(63,952)

(32,018)

(21,786)

(4,920)

Net income attributable to Vornado Realty L.P.

912,465 

500,788 

662,523 

718,214 

703,111 

Preferred unit distributions

(81,514)

(83,965)

(86,873)

(80,384)

(66,729)

Preferred unit redemptions

(1,130)

8,948 

5,000 

4,382 

Net income attributable to Class A unitholders

$

830,951 

$

415,693 

$

584,598 

$

642,830 

$

640,764 

Per Unit Data:

Income (loss) from continuing operations, net - basic

$

1.22 

$

(0.76)

$

1.37 

$

1.80 

$

2.47 

Income (loss) from continuing operations, net - diluted

1.22 

(0.75)

1.36 

1.78 

2.43 

Net income per Class A unit - basic

4.17 

2.09 

2.95 

3.26 

3.27 

Net income per Class A unit - diluted

4.14 

2.08 

2.93 

3.23 

3.23 

Distributions per Class A unit

2.92 

2.92 

3.76 

(1)

2.76 

2.60 

Balance Sheet Data:

Total assets

$

21,248,320 

$

20,097,224 

$

22,065,049 

$

20,446,487 

$

20,517,471 

Real estate, at cost

16,822,358 

15,392,968 

15,287,078 

13,383,927 

13,140,535 

Accumulated depreciation

(3,161,633)

(2,829,862)

(2,524,718)

(2,346,498)

(2,045,122)

Debt

9,610,324 

8,777,956 

9,790,816 

8,436,085 

8,760,554 

Total equity

7,489,382 

7,594,744 

7,904,144 

7,508,447 

6,830,405 

(1) Includes a special long-term capital gain distribution of $1.00 per Class A unit.