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Income (Loss) Per Share/Income (Loss) Per Class A Unit
12 Months Ended
Dec. 31, 2023
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
Basic net income (loss) per common share is computed by dividing (i) net income (loss) attributable to common stockholders after allocation of dividends and undistributed earnings to participating securities by (ii) the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the dilutive impact of potential common shares and is computed after allocation of earnings to participating securities. Vornado’s participating securities include unvested restricted common shares. Employee stock options, OPP Units, AO LTIP Units, Performance AO LTIP Units and LTPP Units are included in the calculation of diluted income per share using the treasury stock method, if the effect is dilutive. Series A convertible preferred shares, Series G-1 through G-4 convertible preferred units, and Series D-13 redeemable preferred units, are included in the calculation of diluted income per share using the if-converted method, if the effect is dilutive. Net income (loss) is allocated to redeemable Class A units of the Operating Partnership on a one-for-one basis with Vornado common shares. As such, redemption of these units for Vornado common shares would not have a dilutive effect on income (loss) per common share.
(Amounts in thousands, except per share amounts)For the Year Ended December 31,
 202320222021
Numerator:   
Net income (loss) attributable to Vornado$105,494 $(346,499)$175,999 
Preferred share dividends(62,116)(62,116)(65,880)
Series K preferred share issuance costs— — (9,033)
Net income (loss) attributable to common shareholders43,378 (408,615)101,086 
Distributions and earnings allocated to unvested participating securities(2)(18)(34)
Numerator for basic and diluted income (loss) per common share$43,376 $(408,633)$101,052 
Denominator:
Denominator for basic income (loss) per common share - weighted average shares191,005191,775191,551
Effect of dilutive securities(1):
Share-based awards851 — 571 
Denominator for diluted income (loss) per common share - weighted average shares and assumed conversions191,856191,775192,122
Income (loss) per common share:
Basic$0.23 $(2.13)$0.53 
Diluted$0.23 $(2.13)$0.53 
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(1)The calculation of diluted income (loss) per common share for the years ended December 31, 2023, 2022, and 2021 excluded weighted average potential common shares of 3,458, 1,706, and 164, respectively, as their effect was antidilutive.
13.     Income (Loss) Per Share/Income (Loss) Per Class A Unit – continued
Vornado Realty L.P.
Basic net income (loss) per Class A unit is computed by dividing (i) net income (loss) attributable to Class A unitholders after allocation of distributions and undistributed earnings to participating securities by (ii) the weighted average number of Class A units outstanding for the period. Diluted earnings per share reflects the dilutive impact of potential Class A units and is computed after allocation of earnings to participating securities. VRLP’s participating securities include unvested LTIP Units and LTPP Units for which the applicable performance vesting conditions were satisfied. Equity awards subject to market and/or performance vesting conditions, including Vornado stock options, OPP Units, AO LTIP Units, Performance AO LTIP Units and LTPP Units, are included in the calculation of diluted income per Class A unit using the treasury stock method. Convertible securities, including Series A convertible preferred shares, Series G-1 through G-4 convertible preferred units, and Series D-13 redeemable preferred units, are included in the calculation of diluted income per Class A unit using the if-converted method, if dilutive.
(Amounts in thousands, except per unit amounts)For the Year Ended December 31,
 202320222021
Numerator:   
Net income (loss) attributable to Vornado Realty L.P.$108,855 $(376,875)$183,539 
Preferred unit distributions(62,231)(62,231)(66,035)
Series K preferred unit issuance costs— — (9,033)
Net income (loss) attributable to Class A unitholders46,624 (439,106)108,471 
Distributions and earnings allocated to participating securities(1,323)(2,215)(2,668)
Numerator for basic and diluted income (loss) per Class A unit$45,301 $(441,321)$105,803 
Denominator:
Denominator for basic income (loss) per Class A unit – weighted average units205,105 205,315 204,728 
Effect of dilutive securities(1):
Unit-based awards851 — 916 
Denominator for diluted income (loss) per Class A unit – weighted average units and assumed conversions205,956 205,315 205,644 
Income (loss) per Class A unit:
Basic$0.22 $(2.15)$0.52 
Diluted$0.22 $(2.15)$0.51 
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(1)The calculation of diluted income (loss) per Class A unit for the years ended December 31, 2023, 2022, and 2021 excluded weighted average potential Class A units of 3,458, 1,706, and 164, respectively, as their effect was antidilutive.