Income Per Class A Unit

3 Months Ended

Mar. 31, 2012

Income Per Class A Unit [Abstract]

Income Per Class A Unit

16.       Income Per Class A Unit

The following table provides a reconciliation of both net income and the number of Class A units used in the computation of (i) basic income per Class A unit - which includes the weighted average number of Class A units outstanding without regard to dilutive potential Class A units, and (ii) diluted income per Class A unit - which includes the weighted average Class A units and dilutive unit equivalents. Dilutive unit equivalents may include our Series A convertible preferred units, Vornado stock options, restricted units and exchangeable senior debentures.

			For the Three Months
(Amounts in thousands, except per unit amounts)			Ended March 31,
			2012		2011
Numerator:
	Income from continuing operations		$	223,549	$	308,195
	Income from discontinued operations			56,715		137,626
	Net income			280,264		445,821
	Less net income attributable to noncontrolling interests in consolidated subsidiaries			(9,597)		(1,350)
	Net income attributable to Vornado Realty L.P.			270,667		444,471
	Preferred unit distributions			(21,661)		(17,951)
	Net income attributable to Class A unitholders			249,006		426,520
	Earnings allocated to unvested participating securities			(1,078)		(1,842)
	Numerator for basic income per Class A unit			247,928		424,678
	Impact of assumed conversions:
		Interest on 3.88% exchangeable senior debentures		6,626		6,534
		Convertible preferred unit distributions		29		32
	Numerator for diluted income per Class A unit		$	254,583	$	431,244
Denominator:
	Denominator for basic income per Class A unit – weighted average units			196,864		195,859
	Effect of dilutive securities(1):
		3.88% exchangeable senior debentures		5,736		5,736
		Vornado stock options and restricted unit awards		1,151		2,177
		Convertible preferred units		50		56
	Denominator for diluted income per Class A unit – weighted average units and assumed conversions			203,801		203,828
INCOME PER CLASS A UNIT – BASIC:
	Income from continuing operations		$	0.97	$	1.47
	Income from discontinued operations			0.29		0.70
	Net income per Class A unit		$	1.26	$	2.17
INCOME PER CLASS A UNIT – DILUTED:
	Income from continuing operations		$	0.97	$	1.44
	Income from discontinued operations			0.28		0.68
	Net income per Class A unit		$	1.25	$	2.12
(1)		The effect of dilutive securities in the three months ended March 31, 2012 and 2011 excludes an aggregate of 1,027 and 487 weighted average Class A unit equivalents, respectively, as their effect was anti-dilutive.