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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES:        
Property rentals $ 527,178 $ 514,843 $ 1,046,670 $ 1,015,117
Tenant expense reimbursements 60,841 62,215 120,416 129,136
Fee and other income 33,689 39,230 67,659 78,837
Total revenues 621,708 616,288 1,234,745 1,223,090
EXPENSES:        
Operating 245,138 242,690 501,487 497,183
Depreciation and amortization 141,313 136,957 284,270 261,079
General and administrative 45,564 39,189 94,268 97,681
Impairment loss and acquisition and transaction related costs 2,879 4,061 168,186 6,042
Total expenses 434,894 422,897 1,048,211 861,985
Operating income 186,814 193,391 186,534 361,105
Income (loss) from partially owned entities 642 (5,641) (3,598) (8,384)
Income from real estate fund investments 16,389 26,368 27,673 50,457
Interest and other investment income, net 10,236 5,666 13,754 16,458
Interest and debt expense (105,576) (92,092) (206,065) (183,766)
Net gain on disposition of wholly owned and partially owned assets 159,511 0 160,225 1,860
Income before income taxes 268,016 127,692 178,523 237,730
Income tax (expense) benefit (2,109) 88,072 (4,940) 87,101
Income from continuing operations 265,907 215,764 173,583 324,831
Income (loss) from discontinued operations 2,475 (364) 3,191 15,815
Net income 268,382 215,400 176,774 340,646
Less net income attributable to noncontrolling interests in consolidated subsidiaries (13,025) (19,186) (22,703) (35,068)
Net income attributable to Vornado Realty L.P. 255,357 196,214 154,071 305,578
Preferred unit distributions (20,412) (20,414) (40,824) (39,910)
NET INCOME attributable to Class A unitholders $ 234,945 $ 175,800 $ 113,247 $ 265,668
INCOME PER CLASS A UNIT - BASIC:        
Income from continuing operations, net (in dollars per share) $ 1.16 $ 0.88 $ 0.54 $ 1.25
Income from discontinued operations, net (in dollars per share) 0.01 0 0.02 0.08
Net income per Class A unit (in dollars per share) $ 1.17 $ 0.88 $ 0.56 $ 1.33
Weighted average units outstanding 200,369 199,038 200,220 198,857
INCOME PER CLASS A UNIT - DILUTED:        
Income from continuing operations, net (in dollars per share) $ 1.15 $ 0.87 $ 0.54 $ 1.23
Income from discontinued operations, net (in dollars per share) 0.01 0 0.01 0.08
Net income per Class A unit (in dollars per share) $ 1.16 $ 0.87 $ 0.55 $ 1.31
Weighted average shares outstanding 201,975 200,833 201,821 200,833
DISTRIBUTIONS PER CLASS A UNIT (in dollars per share) $ 0.63 $ 0.63 $ 1.26 $ 1.26