Partners' Capital

12 Months Ended

Dec. 31, 2014

Partner's Capital [Abstract]

Partners' Capital

12. Partners'Capital

Class A Units

As of December 31, 2014, there were 187,887,498Class A units outstanding, respectively, that were held by Vornado. These units are classified as “partners' capital” on our consolidated balance sheets. As of December 31, 2014, there were 11,356,550Class A units outstanding, that were held by third parties. These units are classified outside of “partners' capital” as “redeemable partnership units” on our consolidated balance sheets (See Note 11 – Redeemable Partnership Units). During 2014, we paid an aggregate of $547,831,000 of distributions to Vornado comprised of quarterly common distributions of $0.73 per unit.

Preferred Units

The following table sets forth the details of our preferred units of beneficial interest as of December 31, 2014 and 2013.

(Amounts in thousands, except unit and		Balance as of				Units Outstanding at		Per Unit		Annual
per unit amounts)		December 31,				December 31,		Liquidation		Distribution
Preferred Units		2014		2013		2014	2013	Preference		Rate(1)
Convertible Preferred:
	6.5% Series A: authorized 83,977 units(2)	$	1,393	$	1,592	28,939	32,807	$	50.00	$	3.25
Cumulative Redeemable:
	6.625% Series G: authorized 8,000,000 units(3)		193,135		193,135	8,000,000	8,000,000	$	25.00	$	1.65625
	6.625% Series I: authorized 10,800,000 units(3)		262,379		262,379	10,800,000	10,800,000	$	25.00	$	1.65625
	6.875% Series J: authorized 9,850,000 units(3)		238,842		238,842	9,850,000	9,850,000	$	25.00	$	1.71875
	5.70% Series K: authorized 12,000,000 units(3)		290,971		290,971	12,000,000	12,000,000	$	25.00	$	1.425
	5.40% Series L: authorized 12,000,000 units(3)		290,306		290,306	12,000,000	12,000,000	$	25.00	$	1.35
		$	1,277,026	$	1,277,225	52,678,939	52,682,807
(1)	Distributions on preferred units are cumulative and are payable quarterly in arrears.
(2)	Redeemable at the option of Vornado under certain circumstances, at a redemption price of 1.4334 Class A units per Series A Preferred unit plus accrued and unpaid distributions through the date of redemption, or convertible at any time at the option of the holder for 1.4334 Class A units per Series A Preferred unit.
(3)	Redeemable at Vornado's option at a redemption price of $25.00 per unit, plus accrued and unpaid distributions through the date of redemption.

Accumulated Other Comprehensive Income (Loss)

The following tables set forth the changes in accumulated comprehensive income (loss) by component.

	For the Year Ended December 31, 2014
			Securities		Pro rata share of		Interest
			available-		nonconsolidated		rate
(Amounts in thousands)	Total		for-sale		subsidiaries' OCI		swap		Other
Balance as of December 31, 2013	$	71,537	$	119,309	$	(11,501)	$	(31,882)	$	(4,389)
Net current period OCI		21,730		14,465		2,509		6,079		(1,323)
Balance as of December 31, 2014	$	93,267	$	133,774	$	(8,992)	$	(25,803)	$	(5,712)