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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
REVENUES:        
Property rentals $ 518,141 $ 530,192 $ 1,564,168 $ 1,592,867
Tenant expense reimbursements 80,497 85,757 224,287 237,945
Cleveland Medical Mart development project 72,651 35,135 184,014 108,203
Fee and other income 39,688 36,776 106,018 111,813
Total revenues 710,977 687,860 2,078,487 2,050,828
EXPENSES:        
Operating 264,487 262,837 764,018 773,331
Depreciation and amortization 124,335 126,935 386,974 373,380
General and administrative 48,742 46,121 151,142 154,359
Cleveland Medical Mart development project 70,431 33,419 177,127 101,637
Acquisition related costs and tenant buy-outs 1,070 2,288 4,314 22,455
Total expenses 509,065 471,600 1,483,575 1,425,162
Operating income 201,912 216,260 594,912 625,666
Income from partially owned entities 12,683 3,836 142,187 135,829
Income from Real Estate Fund (of which $4,787 and $3,675 in each three-month period, respectively, and $25,026 and $15,703 in each nine-month period, respectively, are attributable to noncontrolling interests) 5,509 5,353 37,572 25,491
Interest and other investment income (loss), net 10,523 (30,011) (22,984) 95,086
Interest and debt expense (including amortization of deferred financing costs of $5,725 and $4,670, in each three-month period, respectively, and $17,204 and $14,093 in each nine-month period, respectively) (120,770) (131,998) (377,600) (394,192)
Net gain on disposition of wholly owned and partially owned assets 0 1,298 4,856 7,975
Income before income taxes 109,857 64,738 378,943 495,855
Income tax expense (3,015) (6,959) (17,319) (18,548)
Income from continuing operations 106,842 57,779 361,624 477,307
Income from discontinued operations 157,314 8,444 241,024 165,706
Net income 264,156 66,223 602,648 643,013
Less net income attributable to noncontrolling interests in: Consolidated subsidiaries (6,610) (5,636) (30,928) (20,643)
Less net income attributable to noncontrolling interests in: Operating Partnership, including unit distributions (16,240) (6,825) (40,595) (47,364)
Net income attributable to Vornado 241,306 53,762 531,125 575,006
Preferred share dividends (20,613) (17,627) (56,187) (47,743)
Discount on preferred unit redemptions 11,700 5,000 11,700 5,000
NET INCOME attributable to common shareholders 232,393 41,135 486,638 532,263
INCOME PER COMMON SHARE - BASIC:        
Income from continuing operations, net (in dollars per share) $ 0.45 $ 0.18 $ 1.40 $ 2.04
Income from discontinued operations, net (in dollars per share) $ 0.80 $ 0.04 $ 1.22 $ 0.85
Net income per common share (in dollars per share) $ 1.25 $ 0.22 $ 2.62 $ 2.89
Weighted average shares outstanding (in shares) 185,924 184,398 185,656 184,220
INCOME PER COMMON SHARE - DILUTED:        
Income from continuing operations, net (in dollars per share) $ 0.45 $ 0.18 $ 1.39 $ 2.02
Income from discontinued operations, net (in dollars per share) $ 0.79 $ 0.04 $ 1.22 $ 0.84
Net income per common share (in dollars per share) $ 1.24 $ 0.22 $ 2.61 $ 2.86
Weighted average shares outstanding (in shares) 186,655 186,065 186,399 186,039
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.69 $ 0.69 $ 2.07 $ 2.07
Toys R Us [Member]
       
EXPENSES:        
Income from partially owned entities (8,585) (9,304) 88,696 80,794
All Equity Method Investees Excluding Toys [Member]
       
EXPENSES:        
Income from partially owned entities $ 21,268 $ 13,140 $ 53,491 $ 55,035