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Consolidated and Combined Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
REVENUE      
Property rentals $ 231,867 $ 232,592 $ 228,282
Tenant expense reimbursements 84,617 81,887 73,170
Income from Stop & Shop settlement 0 0 59,599
Management and development fees 2,261 535 606
Other income 4,200 662 1,338
Total revenue 322,945 315,676 362,995
EXPENSES      
Depreciation and amortization 57,253 53,653 54,043
Real estate taxes 49,311 49,835 46,715
Property operating 50,595 51,988 45,845
General and administrative 32,044 17,820 19,376
Real estate impairment loss 0 0 19,000
Ground rent 10,129 10,304 10,137
Transaction costs 24,011 8,604 0
Provision for doubtful accounts 1,526 1,032 666
Total expenses 224,869 193,236 195,782
Operating income 98,076 122,440 167,213
Interest income 150 35 11
Interest and debt expense (55,584) (54,960) (55,789)
Income before income taxes 42,642 67,515 111,435
Income tax expense (1,294) (1,721) (2,100)
Net income 41,348 65,794 109,335
Less net income attributable to noncontrolling interests in:      
Operating partnership (2,547) 0 0
Consolidated subsidiaries (16) (22) (21)
Net income attributable to Vornado $ 38,785 [1] $ 65,772 $ 109,314
Earnings per common share - Basic (in dollars per share) $ 0.39 $ 0.66 $ 1.10
Earnings per common share - Diluted (in dollars per share) $ 0.39 $ 0.66 $ 1.10
Weighted average shares outstanding - Basic (in shares) 99,252 99,248 99,248
Weighted average shares outstanding - Diluted (in shares) 99,278 99,248 99,248
[1] Net loss earned from January 1, 2015 through January 15, 2015 is attributable to Vornado as it was the sole shareholder prior to January 15, 2015. Refer to Note 1 - Organization