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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES:        
Revenues $ 409,212 $ 363,962 $ 1,168,130 $ 1,151,520
EXPENSES:        
Operating (212,699) (195,645) (594,598) (600,077)
Depreciation and amortization (100,867) (107,013) (285,998) (292,611)
General and administrative (25,553) (32,407) (100,341) (120,255)
(Expense) benefit from deferred compensation plan liability (799) (4,341) (7,422) 548
(Impairment losses, transaction related costs and other) lease liability extinguishment gain (9,681) (584) (10,630) 68,566
Total expenses (349,599) (339,990) (998,989) (943,829)
Income (loss) from partially owned entities 26,269 (80,909) 86,768 (353,679)
(Loss) income from real estate fund investments (66) (13,823) 5,107 (225,328)
Interest and other investment income (loss), net 633 1,729 3,694 (7,068)
Income (loss) from deferred compensation plan assets 799 4,341 7,422 (548)
Interest and debt expense (50,946) (57,371) (152,904) (174,618)
Net gains on disposition of wholly owned and partially owned assets 10,087 214,578 35,811 338,862
Income (loss) before income taxes 46,389 92,517 155,039 (214,688)
Income tax benefit (expense) 25,376 (23,781) 20,551 (38,431)
Net income (loss) 71,765 68,736 175,590 (253,119)
Less net (income) loss attributable to noncontrolling interests / consolidated subsidiaries in:        
Consolidated subsidiaries (5,425) 848 (20,323) 141,003
Operating Partnership (2,818) (3,884) (6,683) 10,090
Net income (loss) attributable to Vornado / Vornado Realty L.P. 63,522 65,700 148,584 (102,026)
Preferred share dividends / unit distributions (16,800) (12,530) (49,734) (37,591)
Preferred share / unit issuance costs (9,033) 0 (9,033) 0
NET INCOME (LOSS) attributable to common shareholders / Class A unitholders $ 37,689 $ 53,170 $ 89,817 $ (139,617)
INCOME (LOSS) PER COMMON SHARE - BASIC:        
Net income (loss) per common share (in dollars per share) $ 0.20 $ 0.28 $ 0.47 $ (0.73)
Weighted average shares outstanding, basic (in shares) 191,577 191,162 191,508 191,102
INCOME (LOSS) PER COMMON SHARE - DILUTED:        
Net income (loss) per common share (in dollars per share) $ 0.20 $ 0.28 $ 0.47 $ (0.73)
Weighted average shares outstanding, diluted (in shares) 192,041 191,162 192,151 191,102
Vornado Realty L.P.        
REVENUES:        
Revenues $ 409,212 $ 363,962 $ 1,168,130 $ 1,151,520
EXPENSES:        
Operating (212,699) (195,645) (594,598) (600,077)
Depreciation and amortization (100,867) (107,013) (285,998) (292,611)
General and administrative (25,553) (32,407) (100,341) (120,255)
(Expense) benefit from deferred compensation plan liability (799) (4,341) (7,422) 548
(Impairment losses, transaction related costs and other) lease liability extinguishment gain (9,681) (584) (10,630) 68,566
Total expenses (349,599) (339,990) (998,989) (943,829)
Income (loss) from partially owned entities 26,269 (80,909) 86,768 (353,679)
(Loss) income from real estate fund investments (66) (13,823) 5,107 (225,328)
Interest and other investment income (loss), net 633 1,729 3,694 (7,068)
Income (loss) from deferred compensation plan assets 799 4,341 7,422 (548)
Interest and debt expense (50,946) (57,371) (152,904) (174,618)
Net gains on disposition of wholly owned and partially owned assets 10,087 214,578 35,811 338,862
Income (loss) before income taxes 46,389 92,517 155,039 (214,688)
Income tax benefit (expense) 25,376 (23,781) 20,551 (38,431)
Net income (loss) 71,765 68,736 175,590 (253,119)
Less net (income) loss attributable to noncontrolling interests / consolidated subsidiaries in:        
Consolidated subsidiaries (5,425) 848 (20,323) 141,003
Operating Partnership (2,818) (3,884) (6,683) 10,090
Net income (loss) attributable to Vornado / Vornado Realty L.P. 66,340 69,584 155,267 (112,116)
Preferred share dividends / unit distributions (16,842) (12,572) (49,858) (37,715)
Preferred share / unit issuance costs (9,033) 0 (9,033) 0
NET INCOME (LOSS) attributable to common shareholders / Class A unitholders $ 40,465 $ 57,012 $ 96,376 $ (149,831)
INCOME (LOSS) PER CLASS A UNIT - BASIC:        
Net income (loss) per Class A unit (in dollars per unit) $ 0.19 $ 0.28 $ 0.46 $ (0.76)
Weighted average units outstanding, basic (in shares) 204,864 203,554 204,663 203,480
INCOME (LOSS) PER CLASS A UNIT - DILUTED:        
Net income (loss) per Class A unit (in dollars per unit) $ 0.19 $ 0.28 $ 0.46 $ (0.76)
Weighted average units outstanding, diluted (in shares) 205,703 203,554 205,616 203,480
Rental revenues        
REVENUES:        
Revenues $ 369,203 $ 322,253 $ 1,048,116 $ 1,038,721
Rental revenues | Vornado Realty L.P.        
REVENUES:        
Revenues 369,203 322,253 1,048,116 1,038,721
Fee and other income        
REVENUES:        
Revenues 40,009 41,709 120,014 112,799
Fee and other income | Vornado Realty L.P.        
REVENUES:        
Revenues $ 40,009 $ 41,709 $ 120,014 $ 112,799