(Loss) Income Per Class A Unit

3 Months Ended

Mar. 31, 2016

18. (Loss) Income Per Class A Unit

The following table provides a reconciliation of both net (loss) income and the number of Class A units used in the computation of (i) basic (loss) 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 (loss) 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 unit awards.

(Amounts in thousands, except per unit amounts)			For the Three Months Ended March 31,
			2016		2015
Numerator:
	(Loss) income from continuing operations, net of income attributable
		to noncontrolling interests	$	(102,002)	$	93,185
	Income from discontinued operations			716		16,179
	Net (loss) income attributable to Vornado Realty L.P.			(101,286)		109,364
	Preferred unit distributions			(20,412)		(19,496)
	Net (loss) income attributable to Class A unitholders			(121,698)		89,868
	Earnings allocated to unvested participating securities			(772)		(749)
	Numerator for basic and diluted (loss) income per Class A unit		$	(122,470)	$	89,119

Denominator:
	Denominator for basic (loss) income per Class A unit – weighted average units			200,072		198,675
	Effect of dilutive securities⁽¹⁾:
		Vornado stock options and restricted unit awards		-		2,074
	Denominator for diluted (loss) income per Class A unit – weighted average
		units and assumed conversions		200,072		200,749

(LOSS) INCOME PER CLASS A UNIT – BASIC:
	(Loss) income from continuing operations, net		$	(0.61)	$	0.37
	Income from discontinued operations, net			-		0.08
	Net (loss) income per Class A unit		$	(0.61)	$	0.45

(LOSS) INCOME PER CLASS A UNIT – DILUTED:
	(Loss) income from continuing operations, net		$	(0.61)	$	0.36
	Income from discontinued operations, net			-		0.08
	Net (loss) income per Class A unit		$	(0.61)	$	0.44


(1)	The effect of dilutive securities for the three months ended March 31, 2016 and 2015 excludes an aggregate of 1,867 and 76 weighted average Class A unit equivalents, respectively, as their effect was anti-dilutive.