XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES:        
Property rentals $ 523,998 $ 526,337 $ 1,570,668 $ 1,541,454
Tenant expense reimbursements 71,425 67,098 191,841 196,234
Fee and other income 37,774 34,161 105,433 112,998
Total revenues 633,197 627,596 1,867,942 1,850,686
EXPENSES:        
Operating 260,826 256,561 762,313 753,744
Depreciation and amortization 138,968 141,920 423,238 402,999
General and administrative 40,442 36,157 134,710 133,838
Impairment loss and acquisition and transaction related costs 3,808 1,518 171,994 7,560
Total expenses 444,044 436,156 1,492,255 1,298,141
Operating income 189,153 191,440 375,687 552,545
Income (loss) from partially owned entities 4,127 (325) 529 (8,709)
Income from real estate fund investments 1,077 1,665 28,750 52,122
Interest and other investment income, net 6,508 3,160 20,262 19,618
Interest and debt expense (98,365) (95,344) (304,430) (279,110)
Net gain on disposition of wholly owned and partially owned assets 0 103,037 160,225 104,897
Income before income taxes 102,500 203,633 281,023 441,363
Income tax (expense) benefit (4,865) (2,856) (9,805) 84,245
Income from continuing operations 97,635 200,777 271,218 525,608
Income from discontinued operations 2,969 34,463 6,160 50,278
Net income 100,604 235,240 277,378 575,886
Less net income attributable to noncontrolling interests in consolidated subsidiaries (3,658) (3,302) (26,361) (38,370)
Net income attributable to Vornado Realty L.P. 96,946 231,938 251,017 537,516
Preferred unit distributions (19,096) (20,412) (59,920) (60,322)
Preferred unit issuance costs (Series J redemption) (7,408) 0 (7,408) 0
NET INCOME attributable to Class A unitholders $ 70,442 $ 211,526 $ 183,689 $ 477,194
INCOME PER CLASS A UNIT - BASIC:        
Income from continuing operations, net $ 0.33 $ 0.88 $ 0.88 $ 2.13
Income from discontinued operations, net 0.02 0.17 0.03 0.25
Net income per Class A unit $ 0.35 $ 1.05 $ 0.91 $ 2.38
Weighted average units outstanding 200,458 199,609 200,300 199,111
INCOME PER CLASS A UNIT - DILUTED:        
Income from continuing operations, net $ 0.33 $ 0.88 $ 0.87 $ 2.11
Income from discontinued operations, net 0.02 0.17 0.03 0.25
Net income per Class A unit $ 0.35 $ 1.05 $ 0.9 $ 2.36
Weighted average units outstanding 202,141 201,273 201,932 200,980
DISTRIBUTIONS PER CLASS A UNIT $ 0.63 $ 0.63 $ 1.89 $ 1.89