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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:      
Net income $ 3,334,262 $ 422,603 $ 264,128
Adjustments to reconcile net income to net cash provided by operating activities:      
Net gain on transfer to Fifth Avenue and Times Square JV (2,571,099) 0 0
Net gains on disposition of wholly owned and partially owned assets (845,499) (246,031) (501)
Depreciation and amortization (including amortization of deferred financing costs) 438,933 472,785 529,826
Distributions of income from partially owned entities 116,826 78,831 82,095
Net realized and unrealized loss on real estate fund investments 106,109 84,706 15,267
Equity in net income of partially owned entities (78,865) (9,149) (15,635)
Non-cash impairment loss on 608 Fifth Avenue right-of-use asset 75,220 0 0
Stock-based compensation expense 53,908 31,722 32,829
Real estate impairment losses and related write-offs 26,705 12,000 0
Prepayment penalty on redemption of senior unsecured notes due 2022 22,058 0 0
Amortization of below-market leases, net (19,830) (38,573) (46,790)
Straight-lining of rents 9,679 (7,605) (45,792)
Decrease in fair value of marketable securities 5,533 26,453 0
Purchase price fair value adjustment 0 (44,060) 0
Return of capital from real estate fund investments 0 20,290 91,606
Change in valuation of deferred tax assets and liabilities 0 12,835 34,800
Net gains on real estate and other 0 0 (3,489)
Other non-cash adjustments 13,765 7,499 23,651
Changes in operating assets and liabilities:      
Real estate fund investments (10,000) (68,950) 0
Tenant and other receivables, net (25,988) (14,532) 1,183
Prepaid assets 7,558 151,533 (12,292)
Other assets (4,302) (84,222) (79,199)
Accounts payable and accrued expenses 5,940 5,869 3,760
Other liabilities 1,626 (11,363) (15,305)
Net cash provided by operating activities 662,539 802,641 860,142
Cash Flows from Investing Activities:      
Proceeds from sale of condominium units at 220 Central Park South 1,605,356 214,776 0
Proceeds from transfer of interest in Fifth Avenue and Times Square JV (net of $35,562 of transaction costs and $10,899 of deconsolidated cash and restricted cash) 1,248,743 0 0
Development costs and construction in progress (649,056) (418,186) (355,852)
Proceeds from redemption of 640 Fifth Avenue preferred equity 500,000 0 0
Moynihan Train Hall expenditures (438,935) (74,609) 0
Proceeds from sale of real estate and related investments 324,201 219,731 9,543
Additions to real estate (233,666) (234,602) (271,308)
Proceeds from sales of marketable securities 168,314 4,101 0
Acquisitions of real estate and other (69,699) (574,812) (30,607)
Distributions of capital from partially owned entities 24,880 100,178 366,155
Investments in partially owned entities (18,257) (37,131) (40,537)
Proceeds from repayments of loans receivable 1,395 25,757 659
Investments in loans receivable 0 (105,000) 0
Net consolidation of Farley Office and Retail Building 0 2,075 0
Proceeds from the repayment of JBG SMITH Properties loan receivable 0 0 115,630
Net cash provided by (used in) investing activities 2,463,276 (877,722) (206,317)
Cash Flows from Financing Activities:      
Repayments of borrowings (2,718,987) (685,265) (631,681)
Proceeds from borrowings 1,108,156 526,766 1,055,872
Dividends paid on common shares / Distributions to Vornado (503,785) (479,348) (496,490)
Moynihan Train Hall reimbursement from Empire State Development 438,935 74,609 0
Purchase of marketable securities in connection with defeasance of mortgage payable (407,126) 0 0
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (80,194) (76,149) (109,697)
Dividends paid on preferred shares / Distributions to preferred unitholders (50,131) (55,115) (64,516)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 17,871 61,062 1,044
Prepayment penalty on redemption of senior unsecured notes due 2022 (22,058) 0 0
Debt issuance costs (15,588) (12,908) (12,325)
Repurchase of shares (Class A units) related to stock compensation agreements and related tax withholdings and other (8,692) (12,969) (418)
Proceeds received from exercise of employee share options (Vornado stock options) and other 6,903 7,309 29,712
Redemption of preferred shares / units (893) (470,000) 0
Debt prepayment and extinguishment costs 0 (818) (3,217)
Cash and cash equivalents and restricted cash included in the spin-off of JBG SMITH Properties ($275,000 plus The Bartlett financing proceeds less transaction costs and other mortgage items) 0 0 (416,237)
Proceeds from issuance of preferred shares / units 0 0 309,609
Net cash used in financing activities (2,235,589) (1,122,826) (338,344)
Net increase (decrease) in cash and cash equivalents and restricted cash 890,226 (1,197,907) 315,481
Cash and cash equivalents and restricted cash at beginning of period 716,905 1,914,812 1,599,331
Cash and cash equivalents and restricted cash at end of period 1,607,131 716,905 1,914,812
Reconciliation of Cash and Cash Equivalents and Restricted Cash:      
Cash and cash equivalents at beginning of period 570,916 1,817,655 1,501,027
Restricted cash at beginning of period 145,989 97,157 95,032
Restricted cash included in discontinued operations at beginning of period 0 0 3,272
Cash and cash equivalents and restricted cash at beginning of period 716,905 1,914,812 1,599,331
Restricted cash at end of period 92,119 145,989 97,157
Cash and cash equivalents and restricted cash at end of period 1,607,131 716,905 1,914,812
Cash and cash equivalents at end of period 1,515,012 570,916 1,817,655
Supplemental Disclosure of Cash Flow Information:      
Cash payments for interest, excluding capitalized interest of $67,980, $67,402 and $43,071 283,613 311,835 338,983
Cash payments for income taxes 59,834 62,225 6,727
Non-Cash Investing and Financing Activities:      
Preferred equity 2,327,750 0 0
Common equity 1,449,495 0 0
Reclassification of condominium units from development costs and construction in progress to 220 Central Park South condominium units ready for sale 1,311,468 233,179 0
Lease liabilities arising from the recognition of right-of-use assets 526,866 0 0
Marketable securities transferred in connection with the defeasance of mortgage payable (407,126) 0 0
Special dividend/distribution declared and payable on January 15, 2020 398,292 0 0
Defeased mortgage payable 390,000 0 0
Write-off of fully depreciated assets (122,813) (86,064) (58,810)
Accrued capital expenditures included in accounts payable and accrued expenses 109,975 88,115 102,976
Adjustments to carry redeemable Class A units at redemption value 70,810 198,064 268,494
Recognition of negative basis related to the sale of our investment in 330 Madison Avenue 60,052 0 0
Amounts related to our investment in Pennsylvania Real Estate Investment Trust reclassified from investments in partially owned entities and accumulated other comprehensive (loss) income to marketable securities upon conversion of operating partnership units to common shares 54,962 0 0
Non-cash distribution to JBG SMITH Properties:      
Reclassification of Series G and Series I cumulative redeemable preferred shares to liabilities upon call for redemption 0 0 455,514
Loan receivable established upon the spin-off of JBG SMITH Properties 0 0 115,630
Reduction in unrealized net gain on available-for-sale securities 0 0 (20,951)
JBGS      
Cash Flows from Financing Activities:      
Cash and cash equivalents and restricted cash included in the spin-off of JBG SMITH Properties ($275,000 plus The Bartlett financing proceeds less transaction costs and other mortgage items)     (275,000)
Non-cash distribution to JBG SMITH Properties:      
Assets 0 0 3,432,738
Liabilities 0 0 (1,414,186)
Equity 0 0 (2,018,552)
Vornado Realty L.P.      
Cash Flows from Operating Activities:      
Net income 3,334,262 422,603 264,128
Adjustments to reconcile net income to net cash provided by operating activities:      
Net gain on transfer to Fifth Avenue and Times Square JV (2,571,099) 0 0
Net gains on disposition of wholly owned and partially owned assets (845,499) (246,031) (501)
Depreciation and amortization (including amortization of deferred financing costs) 438,933 472,785 529,826
Distributions of income from partially owned entities 116,826 78,831 82,095
Net realized and unrealized loss on real estate fund investments 106,109 84,706 15,267
Equity in net income of partially owned entities (78,865) (9,149) (15,635)
Non-cash impairment loss on 608 Fifth Avenue right-of-use asset 75,220 0 0
Stock-based compensation expense 53,908 31,722 32,829
Real estate impairment losses and related write-offs 26,705 12,000 0
Prepayment penalty on redemption of senior unsecured notes due 2022 22,058 0 0
Amortization of below-market leases, net (19,830) (38,573) (46,790)
Straight-lining of rents 9,679 (7,605) (45,792)
Decrease in fair value of marketable securities 5,533 26,453 0
Purchase price fair value adjustment 0 (44,060) 0
Return of capital from real estate fund investments 0 20,290 91,606
Change in valuation of deferred tax assets and liabilities 0 12,835 34,800
Net gains on real estate and other 0 0 (3,489)
Other non-cash adjustments 13,765 7,499 23,651
Changes in operating assets and liabilities:      
Real estate fund investments (10,000) (68,950) 0
Tenant and other receivables, net (25,988) (14,532) 1,183
Prepaid assets 7,558 151,533 (12,292)
Other assets (4,302) (84,222) (79,199)
Accounts payable and accrued expenses 5,940 5,869 3,760
Other liabilities 1,626 (11,363) (15,305)
Net cash provided by operating activities 662,539 802,641 860,142
Cash Flows from Investing Activities:      
Proceeds from sale of condominium units at 220 Central Park South 1,605,356 214,776 0
Proceeds from transfer of interest in Fifth Avenue and Times Square JV (net of $35,562 of transaction costs and $10,899 of deconsolidated cash and restricted cash) 1,248,743 0 0
Development costs and construction in progress (649,056) (418,186) (355,852)
Proceeds from redemption of 640 Fifth Avenue preferred equity 500,000 0 0
Moynihan Train Hall expenditures (438,935) (74,609) 0
Proceeds from sale of real estate and related investments 324,201 219,731 9,543
Additions to real estate (233,666) (234,602) (271,308)
Proceeds from sales of marketable securities 168,314 4,101 0
Acquisitions of real estate and other (69,699) (574,812) (30,607)
Distributions of capital from partially owned entities 24,880 100,178 366,155
Investments in partially owned entities (18,257) (37,131) (40,537)
Proceeds from repayments of loans receivable 1,395 25,757 659
Investments in loans receivable 0 (105,000) 0
Net consolidation of Farley Office and Retail Building 0 2,075 0
Proceeds from the repayment of JBG SMITH Properties loan receivable 0 0 115,630
Net cash provided by (used in) investing activities 2,463,276 (877,722) (206,317)
Cash Flows from Financing Activities:      
Repayments of borrowings (2,718,987) (685,265) (631,681)
Proceeds from borrowings 1,108,156 526,766 1,055,872
Dividends paid on common shares / Distributions to Vornado (503,785) (479,348) (496,490)
Moynihan Train Hall reimbursement from Empire State Development 438,935 74,609 0
Purchase of marketable securities in connection with defeasance of mortgage payable (407,126) 0 0
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (80,194) (76,149) (109,697)
Dividends paid on preferred shares / Distributions to preferred unitholders (50,131) (55,115) (64,516)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 17,871 61,062 1,044
Prepayment penalty on redemption of senior unsecured notes due 2022 (22,058) 0 0
Debt issuance costs (15,588) (12,908) (12,325)
Repurchase of shares (Class A units) related to stock compensation agreements and related tax withholdings and other (8,692) (12,969) (418)
Proceeds received from exercise of employee share options (Vornado stock options) and other 6,903 7,309 29,712
Redemption of preferred shares / units (893) (470,000) 0
Debt prepayment and extinguishment costs 0 (818) (3,217)
Cash and cash equivalents and restricted cash included in the spin-off of JBG SMITH Properties ($275,000 plus The Bartlett financing proceeds less transaction costs and other mortgage items) 0 0 (416,237)
Proceeds from issuance of preferred shares / units 0 0 309,609
Net cash used in financing activities (2,235,589) (1,122,826) (338,344)
Net increase (decrease) in cash and cash equivalents and restricted cash 890,226 (1,197,907) 315,481
Cash and cash equivalents and restricted cash at beginning of period 716,905 1,914,812 1,599,331
Cash and cash equivalents and restricted cash at end of period 1,607,131 716,905 1,914,812
Reconciliation of Cash and Cash Equivalents and Restricted Cash:      
Cash and cash equivalents at beginning of period 570,916 1,817,655 1,501,027
Restricted cash at beginning of period 145,989 97,157 95,032
Restricted cash included in discontinued operations at beginning of period 0 0 3,272
Cash and cash equivalents and restricted cash at beginning of period 716,905 1,914,812 1,599,331
Restricted cash at end of period 92,119 145,989 97,157
Cash and cash equivalents and restricted cash at end of period 1,607,131 716,905 1,914,812
Cash and cash equivalents at end of period 1,515,012 570,916 1,817,655
Supplemental Disclosure of Cash Flow Information:      
Cash payments for interest, excluding capitalized interest of $67,980, $67,402 and $43,071 283,613 311,835 338,983
Cash payments for income taxes 59,834 62,225 6,727
Non-Cash Investing and Financing Activities:      
Preferred equity 2,327,750 0 0
Common equity 1,449,495 0 0
Reclassification of condominium units from development costs and construction in progress to 220 Central Park South condominium units ready for sale 1,311,468 233,179 0
Lease liabilities arising from the recognition of right-of-use assets 526,866 0 0
Marketable securities transferred in connection with the defeasance of mortgage payable (407,126) 0 0
Special dividend/distribution declared and payable on January 15, 2020 398,292 0 0
Defeased mortgage payable 390,000 0 0
Write-off of fully depreciated assets (122,813) (86,064) (58,810)
Accrued capital expenditures included in accounts payable and accrued expenses 109,975 88,115 102,976
Adjustments to carry redeemable Class A units at redemption value 70,810 198,064 268,494
Recognition of negative basis related to the sale of our investment in 330 Madison Avenue 60,052 0 0
Amounts related to our investment in Pennsylvania Real Estate Investment Trust reclassified from investments in partially owned entities and accumulated other comprehensive (loss) income to marketable securities upon conversion of operating partnership units to common shares 54,962 0 0
Non-cash distribution to JBG SMITH Properties:      
Reclassification of Series G and Series I cumulative redeemable preferred shares to liabilities upon call for redemption 0 0 455,514
Loan receivable established upon the spin-off of JBG SMITH Properties 0 0 115,630
Reduction in unrealized net gain on available-for-sale securities 0 0 (20,951)
Vornado Realty L.P. | JBGS      
Cash Flows from Financing Activities:      
Cash and cash equivalents and restricted cash included in the spin-off of JBG SMITH Properties ($275,000 plus The Bartlett financing proceeds less transaction costs and other mortgage items)     (275,000)
Non-cash distribution to JBG SMITH Properties:      
Assets 0 0 3,432,738
Liabilities 0 0 (1,414,186)
Equity 0 0 (2,018,552)
Farley Post Office Joint Venture      
Increase in assets and liabilities resulting from the consolidation of Moynihan Train Hall      
Real estate, net 0 401,708 0
Mortgage payable, net 0 249,459 0
Farley Post Office Joint Venture | Vornado Realty L.P.      
Increase in assets and liabilities resulting from the consolidation of Moynihan Train Hall      
Real estate, net 0 401,708 0
Mortgage payable, net 0 249,459 0
Moynihan Train Hall      
Increase in assets and liabilities resulting from the consolidation of Moynihan Train Hall      
Real estate, net 0 346,926 0
Moynihan Train Hall obligation 0 346,926 0
Moynihan Train Hall | Vornado Realty L.P.      
Increase in assets and liabilities resulting from the consolidation of Moynihan Train Hall      
Real estate, net 0 346,926 0
Moynihan Train Hall obligation $ 0 $ 346,926 $ 0