XML 61 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
REVENUES:        
Property rentals $ 518,141 $ 530,192 $ 1,564,168 $ 1,592,867
Tenant expense reimbursements 80,497 85,757 224,287 237,945
Cleveland Medical Mart development project 72,651 35,135 184,014 108,203
Fee and other income 39,688 36,776 106,018 111,813
Total revenues 710,977 687,860 2,078,487 2,050,828
EXPENSES:        
Operating 264,487 262,837 764,018 773,331
Depreciation and amortization 124,335 126,935 386,974 373,380
General and administrative 48,742 46,121 151,142 154,359
Cleveland Medical Mart development project 70,431 33,419 177,127 101,637
Acquisition related costs and tenant buy-outs 1,070 2,288 4,314 22,455
Total expenses 509,065 471,600 1,483,575 1,425,162
Operating income 201,912 216,260 594,912 625,666
Income from partially owned entities 12,683 3,836 142,187 135,829
Income from Real Estate Fund (of which $4,787 and $3,675 in each three-month period, respectively, and $25,026 and $15,703 in each nine-month period, respectively, are attributable to noncontrolling interests) 5,509 5,353 37,572 25,491
Interest and other investment income (loss), net 10,523 (30,011) (22,984) 95,086
Interest and debt expense (including amortization of deferred financing costs of $5,725 and $4,670, in each three-month period, respectively, and $17,204 and $14,093 in each nine-month period, respectively) (120,770) (131,998) (377,600) (394,192)
Net gain on disposition of wholly owned and partially owned assets 0 1,298 4,856 7,975
Income before income taxes 109,857 64,738 378,943 495,855
Income tax expense (3,015) (6,959) (17,319) (18,548)
Income from continuing operations 106,842 57,779 361,624 477,307
Income from discontinued operations 157,314 8,444 241,024 165,706
Net income 264,156 66,223 602,648 643,013
Less net income attributable to noncontrolling interests in consolidated subsidiaries (6,610) (5,636) (30,928) (20,643)
Net income attributable to Vornado Realty L.P. 257,546 60,587 571,720 622,370
Preferred unit distributions (22,016) (21,655) (65,337) (58,722)
Discount on preferred unit redemptions 11,700 5,000 11,700 5,000
NET INCOME attributable to Class A unitholders 247,230 43,932 518,083 568,648
INCOME PER CLASS A UNIT - BASIC:        
Income from continuing operations (in dollars per unit) $ 0.45 $ 0.18 $ 1.40 $ 2.04
Income from discontinued operations (in dollars per unit) $ 0.80 $ 0.04 $ 1.22 $ 0.85
Net income per Class A unit (in dollars per unit) $ 1.25 $ 0.22 $ 2.62 $ 2.89
Weighted average shares outstanding (in units) 197,155 196,239 197,050 196,090
INCOME PER CLASS A UNIT - DILUTED:        
Income from continuing operations (in dollars per unit) $ 0.45 $ 0.18 $ 1.39 $ 2.02
Income from discontinued operations (in dollars per unit) $ 0.79 $ 0.04 $ 1.21 $ 0.83
Net income per Class A unit (in dollars per unit) $ 1.24 $ 0.22 $ 2.60 $ 2.85
Weighted average units outstanding (in units) 198,251 198,305 198,128 198,280
DISTRIBUTIONS PER CLASS A UNIT (in dollars per unit) $ 0.69 $ 0.69 $ 2.07 $ 2.07
Toys R Us [Member]
       
EXPENSES:        
Income from partially owned entities (8,585) (9,304) 88,696 80,794
All Equity Method Investees Excluding Toys [Member]
       
EXPENSES:        
Income from partially owned entities $ 21,268 $ 13,140 $ 53,491 $ 55,035