Income Per Class A Unit

12 Months Ended

Dec. 31, 2013

Income Per Unit [Abstract]

Income Per Share

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 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 and restricted units.

(Amounts in thousands, except per unit amounts)			Year Ended December 31,
			2013		2012		2011
Numerator:
	Income from continuing operations, net of income attributable
		to noncontrolling interests in consolidated subsidiaries	$	79,339	$	370,170	$	552,773
	Income from discontinued operations, net of income attributable
		to noncontrolling interests in consolidated subsidiaries		421,449		292,353		165,441
	Net income attributable to Vornado Realty L.P.			500,788		662,523		718,214
	Preferred unit distributions			(83,965)		(86,873)		(80,384)
	Preferred unit redemptions			(1,130)		8,948		5,000
	Net income attributable to Class A unitholders			415,693		584,598		642,830
	Earnings allocated to unvested participating securities			(2,705)		(3,413)		(3,177)
	Numerator for basic income per Class A unit			412,988		581,185		639,653
	Impact of assumed conversions:
		Convertible preferred unit distributions		-		113		124
	Numerator for diluted income per Class A unit		$	412,988	$	581,298	$	639,777
Denominator:
	Denominator for basic income per Class A unit – weighted
		average units		197,551		197,082		196,139
	Effect of dilutive securities (1):
		Vornado stock options and restricted unit awards		1,092		1,002		2,033
		Convertible preferred units		-		50		55
	Denominator for diluted income per Class A unit – weighted average
		units and assumed conversions		198,643		198,134		198,227
(LOSS) INCOME PER CLASS A UNIT – BASIC:
	(Loss) income from continuing operations, net		$	(0.04)	$	1.47	$	2.42
	Income from discontinued operations, net			2.13		1.48		0.84
	Net income per Class A unit		$	2.09	$	2.95	$	3.26
(LOSS) INCOME PER CLASS A UNIT – DILUTED:
	(Loss) income from continuing operations, net		$	(0.04)	$	1.45	$	2.39
	Income from discontinued operations, net			2.12		1.48		0.84
	Net income per Class A unit		$	2.08	$	2.93	$	3.23
(1)		The effect of dilutive securities in the years ended December 31, 2013, 2012 and 2011 excludes an aggregate of 818, 2,796 and 6,690 weighted average Class A unit equivalents, respectively, as their effect was anti-dilutive.