Income Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Income Per Share

19.       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 utilizes 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 and restricted stock and exchangeable senior debentures in 2011 and 2010.

(Amounts in thousands, except per share amounts)			Year Ended December 31,
			2012		2011		2010
Numerator:
	Income from continuing operations, net of income attributable to noncontrolling interests		$	347,392	$	511,478	$	641,520
	Income from discontinued operations, net of income attributable to noncontrolling
		interests		269,868		150,824		6,363
	Net income attributable to Vornado			617,260		662,302		647,883
	Preferred share dividends			(76,937)		(65,531)		(55,534)
	Discount on preferred share and unit redemptions			8,948		5,000		4,382
	Net income attributable to common shareholders			549,271		601,771		596,731
	Earnings allocated to unvested participating securities			(202)		(221)		(120)
	Numerator for basic income per share			549,069		601,550		596,611
	Impact of assumed conversions:
		Convertible preferred share dividends		113		124		160
	Numerator for diluted income per share		$	549,182	$	601,674	$	596,771
Denominator:
	Denominator for basic income per share –
		weighted average shares		185,810		184,308		182,340
	Effect of dilutive securities (1):
		Employee stock options and restricted share awards		670		1,658		1,748
		Convertible preferred shares		50		55		71
	Denominator for diluted income per share –
		weighted average shares and assumed conversions		186,530		186,021		184,159
INCOME PER COMMON SHARE – BASIC:
	Income from continuing operations, net		$	1.50	$	2.44	$	3.24
	Income from discontinued operations, net			1.45		0.82		0.03
	Net income per common share		$	2.95	$	3.26	$	3.27
INCOME PER COMMON SHARE – DILUTED:
	Income from continuing operations, net		$	1.49	$	2.42	$	3.21
	Income from discontinued operations, net			1.45		0.81		0.03
	Net income per common share		$	2.94	$	3.23	$	3.24
(1)		The effect of dilutive securities in the years ended December 31, 2012, 2011 and 2010 excludes an aggregate of 14,400, 18,896 and 19,684 weighted average common share equivalents, respectively, as their effect was anti-dilutive.