Income Per Class A Unit

12 Months Ended

Dec. 31, 2014

Income Per Unit [Abstract]

Income Per 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 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 unit 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,
			2014		2013		2012
Numerator:
	Income from continuing operations, net of income attributable to noncontrolling interests		$	397,622	$	57,118	$	440,381
	Income from discontinued operations, net of income attributable to noncontrolling
		interests		514,843		443,670		222,142
	Net income attributable to Vornado Realty L.P.			912,465		500,788		662,523
	Preferred unit distributions			(81,514)		(83,965)		(86,873)
	Preferred unit redemptions			-		(1,130)		8,948
	Net income attributable to Class A unitholders			830,951		415,693		584,598
	Earnings allocated to unvested participating securities			(4,260)		(2,705)		(3,413)
	Numerator for basic income per Class A unit			826,691		412,988		581,185
	Impact of assumed conversions:
		Convertible preferred unit distributions		97		-		113
	Numerator for diluted income per Class A unit		$	826,788	$	412,988	$	581,298
Denominator:
	Denominator for basic income per Class A unit – weighted average units			198,213		197,551		197,082
	Effect of dilutive securities (1):
		Vornado stock options and restricted unit awards		1,557		1,092		1,002
		Convertible preferred units		43		-		50
	Denominator for diluted income per Class A unit – weighted average units and
		assumed conversions		199,813		198,643		198,134
INCOME (LOSS) PER CLASS A UNIT – BASIC:
	Income (loss) from continuing operations, net		$	1.57	$	(0.16)	$	1.82
	Income from discontinued operations, net			2.60		2.25		1.13
	Net income per Class A unit		$	4.17	$	2.09	$	2.95
INCOME (LOSS) PER CLASS A UNIT – DILUTED:
	Income (loss) from continuing operations, net		$	1.56	$	(0.15)	$	1.81
	Income from discontinued operations, net			2.58		2.23		1.12
	Net income per Class A unit		$	4.14	$	2.08	$	2.93
(1)		The effect of dilutive securities in the years ended December 31, 2014, 2013 and 2012 excludes an aggregate of 116, 818 and 2,796 weighted average Class A unit equivalents, respectively, as their effect was anti-dilutive.