Income Per Class A Unit

3 Months Ended

Mar. 31, 2013

Income Per Class A Unit [Abstract]

Income Per Class A Unit

21.       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 options and restricted units and exchangeable senior debentures in 2012.

			For the Three Months
(Amounts in thousands, except per unit amounts)			Ended March 31,
			2013		2012
Numerator:
	Income from continuing operations		$	81,866	$	208,892
	Income from discontinued operations			207,061		71,372
	Net income			288,927		280,264
	Less net income attributable to noncontrolling interests in consolidated subsidiaries			(11,286)		(9,597)
	Net income attributable to Vornado Realty L.P.			277,641		270,667
	Preferred unit distributions			(22,488)		(21,661)
	Preferred unit redemptions			(9,230)		-
	Net income attributable to Class A unitholders			245,923		249,006
	Earnings allocated to unvested participating securities			(976)		(1,078)
	Numerator for basic income per Class A unit			244,947		247,928
	Impact of assumed conversions:
		Interest on 3.88% exchangeable senior debentures		-		6,626
		Convertible preferred unit distributions		28		29
	Numerator for diluted income per Class A unit		$	244,975	$	254,583
Denominator:
	Denominator for basic income per Class A unit – weighted average units			197,361		196,864
	Effect of dilutive securities(1):
		3.88% exchangeable senior debentures		-		5,736
		Vornado stock options and restricted unit awards		1,108		1,151
		Convertible preferred units		50		50
	Denominator for diluted income per Class A unit – weighted average units and assumed conversions			198,519		203,801
INCOME PER CLASS A UNIT – BASIC:
	Income from continuing operations		$	0.19	$	0.90
	Income from discontinued operations			1.05		0.36
	Net income per Class A unit		$	1.24	$	1.26
INCOME PER CLASS A UNIT – DILUTED:
	Income from continuing operations		$	0.19	$	0.90
	Income from discontinued operations			1.04		0.35
	Net income per Class A unit		$	1.23	$	1.25
(1)		The effect of dilutive securities in the three months ended March 31, 2013 and 2012 excludes an aggregate of 1,007 and 1,027 weighted average Class A unit equivalents, respectively, as their effect was anti-dilutive.