Income Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Income Per Share

21.       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 and restricted stock and exchangeable senior debentures in 2012.

			For the Three Months
(Amounts in thousands, except per share amounts)			Ended March 31,
			2013		2012
Numerator:
	Income from continuing operations, net of income attributable to noncontrolling interests		$	67,592	$	183,628
	Income from discontinued operations, net of income attributable to noncontrolling interests			195,330		67,894
	Net income attributable to Vornado			262,922		251,522
	Preferred share dividends			(21,702)		(17,787)
	Preferred share redemptions			(9,230)		-
	Net income attributable to common shareholders			231,990		233,735
	Earnings allocated to unvested participating securities			(56)		(69)
	Numerator for basic income per share			231,934		233,666
	Impact of assumed conversions:
		Interest on 3.88% exchangeable senior debentures		-		6,626
		Convertible preferred share dividends		28		29
	Numerator for diluted income per share		$	231,962	$	240,321
Denominator:
	Denominator for basic income per share – weighted average shares			186,752		185,370
	Effect of dilutive securities(1):
		3.88% exchangeable senior debentures		-		5,736
		Employee stock options and restricted share awards		727		730
		Convertible preferred shares		50		50
	Denominator for diluted income per share – weighted average shares and assumed conversions			187,529		191,886
INCOME PER COMMON SHARE – BASIC:
	Income from continuing operations, net		$	0.20	$	0.90
	Income from discontinued operations, net			1.04		0.36
	Net income per common share		$	1.24	$	1.26
INCOME PER COMMON SHARE – DILUTED:
	Income from continuing operations, net		$	0.20	$	0.90
	Income from discontinued operations, net			1.04		0.35
	Net income per common share		$	1.24	$	1.25
(1)		The effect of dilutive securities in the three months ended March 31, 2013 and 2012 excludes an aggregate of 11,997 and 12,943 weighted average common share equivalents, respectively, as their effect was anti-dilutive.