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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES:        
Property rentals $ 573,646 $ 565,412 $ 1,144,806 $ 1,117,869
Tenant expense reimbursements 82,325 86,420 173,284 178,350
Cleveland Medical Mart development project 32,369 0 73,068 0
Fee and other income 41,811 32,157 76,104 73,084
Total Revenues 730,151 683,989 1,467,262 1,369,303
EXPENSES:        
Operating 273,152 261,845 563,925 536,538
Depreciation and amortization 131,898 133,277 264,125 267,070
General and administrative 50,251 49,540 109,254 98,170
Cleveland Medical Mart development project 29,940 0 68,218 0
Acquisition and other costs 1,897 1,930 20,167 1,930
Total expenses 487,138 446,592 1,025,689 903,708
Operating income 243,013 237,397 441,573 465,595
Income (loss) from partially owned entities     132,785 120,662
Income from Real Estate Fund (of which $12,102 and $12,028 is allocated to noncontrolling interests, in the three and six months ended June 30, 2011, respectively) 19,058 0 20,138 0
Interest and other investment income, net 8,007 3,876 125,115 18,580
Interest and debt expense (including amortization of deferred financing costs of $5,235 and $4,514 in each three-month period, respectively, and $9,868 and $8,915 in each six-month period, respectively) (137,202) (142,175) (271,967) (277,902)
Net (loss) on extinguishment of debt 0 (1,072) 0 (1,072)
Net gain on disposition of wholly owned and partially owned assets 0 4,382 6,677 7,687
Income before income taxes 136,433 85,856 454,321 333,550
Income tax expense (5,922) (4,964) (12,304) (10,544)
Income from continuing operations 130,511 80,892 442,017 323,006
Income (loss) from discontinued operations 458 (3,681) 134,773 (13,251)
Net income 130,969 77,211 576,790 309,755
Net income attributable to noncontrolling interests in consolidated subsidiaries (13,657) (981) (15,007) (1,194)
Net income attributable to Vornado Realty L.P. 117,312 76,230 561,783 308,561
Preferred unit distributions (19,116) (13,939) (37,067) (30,770)
NET INCOME attributable to Class A unitholders 98,196 62,291 524,716 277,791
INCOME PER CLASS A UNIT - BASIC:        
Income from continuing operations $ 0.50 $ 0.33 $ 1.98 $ 1.49
(Loss) income from discontinued operations $ 0 $ (0.02) $ 0.69 $ (0.07)
Net income per Class A unit $ 0.50 $ 0.31 $ 2.67 $ 1.42
Weighted average units 196,168 194,935 196,015 194,612
INCOME PER CLASS A UNIT - DILUTED:        
Income from continuing operations $ 0.49 $ 0.33 $ 1.96 $ 1.47
(Loss) income from discontinued operations $ 0 $ (0.02) $ 0.66 $ (0.07)
Net income per Class A unit $ 0.49 $ 0.31 $ 2.62 $ 1.40
Weighted average units 198,410 197,154 204,004 197,046
DISTRIBUTIONS PER CLASS A UNIT $ 0.69 $ 0.65 $ 1.38 $ 1.30
Toys R Us [Member]
       
EXPENSES:        
Income (loss) from partially owned entities (22,846) (21,004) 90,098 104,866
All Equity Method Investees Excluding Toys [Member]
       
EXPENSES:        
Income (loss) from partially owned entities $ 26,403 $ 4,452 $ 42,687 $ 15,796