Income Per Class A Unit

12 Months Ended

Dec. 31, 2012

Income Per Class A Unit [Abstract]

Income Per Class A Unit

19.       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 utilizes 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, Vornadooptions and restricted units and exchangeable senior debentures in 2011 and 2010.

(Amounts in thousands, except per unit amounts)			Year Ended December 31,
			2012		2011		2010
Numerator:
	Income from continuing operations		$	408,599	$	578,885	$	701,199
	Income from discontinued operations			285,942		161,115		6,832
	Net income			694,541		740,000		708,031
	Less net income attributable to noncontrolling interests in consolidated subsidiaries			(32,018)		(21,786)		(4,920)
	Net income attributable to Vornado Realty L.P.			662,523		718,214		703,111
	Preferred unit distributions			(86,873)		(80,384)		(66,729)
	Discount on preferred unit redemptions			8,948		5,000		4,382
	Net income attributable to Class A unitholders			584,598		642,830		640,764
	Earnings allocated to unvested participating securities			(3,413)		(3,177)		(3,883)
	Numerator for basic income per Class A unit			581,185		639,653		636,881
	Impact of assumed conversions:
		Convertible preferred unit distributions		113		124		160
	Numerator for diluted income per Class A unit		$	581,298	$	639,777	$	637,041
Denominator:
	Denominator for basic income per Class A unit –
		weighted average units		197,082		196,139		195,002
	Effect of dilutive securities (1):
		Vornado stock options and restricted unit awards		1,002		2,033		2,287
		Convertible preferred units		50		55		71
	Denominator for diluted income per Class A unit –
		weighted average units and assumed conversions		198,134		198,227		197,360
INCOME PER CLASS A UNIT – BASIC:
	Income from continuing operations		$	1.50	$	2.44	$	3.23
	Income from discontinued operations			1.45		0.82		0.04
	Net income per Class A unit		$	2.95	$	3.26	$	3.27
INCOME PER CLASS A UNIT – DILUTED:
	Income from continuing operations		$	1.49	$	2.42	$	3.19
	Income from discontinued operations			1.44		0.81		0.04
	Net income per Class A unit		$	2.93	$	3.23	$	3.23
(1)		The effect of dilutive securities in the years ended December 31, 2012, 2011 and 2010 excludes an aggregate of 2,796, 6,690 and 6,483 weighted average Class A unit equivalents, respectively, as their effect was anti-dilutive.