Income Per Share

3 Months Ended

Mar. 31, 2012

Income Per Share [Abstract]

Income Per Share

16.       Income Per Share

The following table provides a reconciliation of both net income and the number of common shares used in the computation of (i) basic income per common share - which includes the weighted average number of common shares outstanding without regard to dilutive potential common shares, and (ii) diluted income per common share - which includes the weighted average common shares and dilutive share equivalents. Dilutive share equivalents may include our Series A convertible preferred shares, employee stock options, restricted stock and exchangeable senior debentures.

			For the Three Months
(Amounts in thousands, except per share amounts)			Ended March 31,
			2012		2011
Numerator:
	Income from continuing operations, net of income attributable to noncontrolling interests		$	198,285	$	283,636
	Income from discontinued operations, net of income attributable to noncontrolling interests			53,237		129,027
	Net income attributable to Vornado			251,522		412,663
	Preferred share dividends			(17,787)		(13,448)
	Net income attributable to common shareholders			233,735		399,215
	Earnings allocated to unvested participating securities			(69)		(46)
	Numerator for basic income per share			233,666		399,169
	Impact of assumed conversions:
		Interest on 3.88% exchangeable senior debentures		6,626		6,534
		Convertible preferred share dividends		29		32
	Numerator for diluted income per share		$	240,321	$	405,735
Denominator:
	Denominator for basic income per share – weighted average shares			185,370		183,988
	Effect of dilutive securities(1):
		3.88% exchangeable senior debentures		5,736		5,736
		Employee stock options and restricted share awards		730		1,749
		Convertible preferred shares		50		56
	Denominator for diluted income per share – weighted average shares and assumed conversions			191,886		191,529
INCOME PER COMMON SHARE – BASIC:
	Income from continuing operations, net		$	0.97	$	1.47
	Income from discontinued operations, net			0.29		0.70
	Net income per common share		$	1.26	$	2.17
INCOME PER COMMON SHARE – DILUTED:
	Income from continuing operations, net		$	0.97	$	1.45
	Income from discontinued operations, net			0.28		0.67
	Net income per common share		$	1.25	$	2.12
(1)		The effect of dilutive securities in the three months ended March 31, 2012 and 2011 excludes an aggregate of 12,943 and 12,786 weighted average common share equivalents, respectively, as their effect was anti-dilutive.