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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES:        
Property rentals $ 526,337 $ 474,978 $ 1,541,454 $ 1,420,608
Tenant expense reimbursements 67,098 65,953 196,234 180,364
Fee and other income 34,161 37,779 112,998 114,530
Total revenues 627,596 578,710 1,850,686 1,715,502
EXPENSES:        
Operating 256,561 240,088 753,744 707,047
Depreciation and amortization 141,920 114,822 402,999 359,814
General and administrative 36,157 40,384 133,838 128,364
Acquisition and transaction related costs 1,518 1,277 7,560 3,629
Total expenses 436,156 396,571 1,298,141 1,198,854
Operating income 191,440 182,139 552,545 516,648
Loss from partially owned entities (325) (26,034) (8,709) (78,676)
Income from real estate fund investments 1,665 24,160 52,122 142,418
Interest and other investment income, net 3,160 7,568 19,618 28,814
Interest and debt expense (95,344) (100,817) (279,110) (301,042)
Net gain on disposition of wholly owned and partially owned assets 103,037 2,665 104,897 13,205
Income before income taxes 203,633 89,681 441,363 321,367
Income tax (expense) benefit (2,856) (2,652) 84,245 (6,783)
Income from continuing operations 200,777 87,029 525,608 314,584
Income from discontinued operations 34,463 82,168 50,278 118,456
Net income 235,240 169,197 575,886 433,040
Less net income attributable to noncontrolling interests in:        
Consolidated subsidiaries (3,302) (9,685) (38,370) (85,239)
Operating Partnership (12,704) (7,988) (28,189) (16,552)
Net income attributable to Vornado 219,234 151,524 509,327 331,249
Preferred share dividends (20,364) (20,365) (60,213) (61,099)
NET INCOME attributable to common shareholders $ 198,870 $ 131,159 $ 449,114 $ 270,150
INCOME PER COMMON SHARE - BASIC:        
Income from continuing operations, net (in dollars per share) $ 0.88 $ 0.29 $ 2.13 $ 0.84
Income from discontinued operations, net (in dollars per share) 0.17 0.41 0.25 0.60
Net income per common share (in dollars per share) $ 1.05 $ 0.70 $ 2.38 $ 1.44
Weighted average shares outstanding 188,504 187,671 188,291 187,503
INCOME PER COMMON SHARE - DILUTED:        
Income from continuing operations, net (in dollars per share) $ 0.88 $ 0.28 $ 2.12 $ 0.84
Income from discontinued operations, net (in dollars per share) 0.17 0.41 0.25 0.59
Net income per common share (in dollars per share) $ 1.05 $ 0.69 $ 2.37 $ 1.43
Weighted average shares outstanding 189,581 188,812 189,789 188,592
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.63 $ 0.73 $ 1.89 $ 2.19