Income Per Share (Tables)

6 Months Ended

Jun. 30, 2016

Schedule Of Earnings Per Share Basic And Diluted [Text Block]

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 awards and Out-Performance Plan awards.

(Amounts in thousands, except per share amounts)			For the Three Months Ended				For the Six Months Ended
			June 30,				June 30,
			2016		2015		2016		2015
Numerator:
	Income from continuing operations, net of income
		attributable to noncontrolling interests	$	238,504	$	186,359	$	144,033	$	275,207
	Income (loss) from discontinued operations, net of income
		attributable to noncontrolling interests		2,322		(343)		2,994		14,886
	Net income attributable to Vornado			240,826		186,016		147,027		290,093
	Preferred share dividends			(20,363)		(20,365)		(40,727)		(39,849)
	Net income attributable to common shareholders			220,463		165,651		106,300		250,244
	Earnings allocated to unvested participating securities			(25)		(18)		(30)		(34)
	Numerator for basic income per share			220,438		165,633		106,270		250,210
	Impact of assumed conversions:
		Convertible preferred share dividends		21		23		-		46
		Earnings allocated to Out-Performance Plan units		-		-		24		367
	Numerator for diluted income per share		$	220,459	$	165,656	$	106,294	$	250,623

Denominator:
	Denominator for basic income per share – weighted average shares			188,772		188,365		188,715		188,183
	Effect of dilutive securities⁽¹⁾:
		Employee stock options and restricted share awards		1,070		1,190		1,020		1,260
		Convertible preferred shares		43		45		-		46
		Out-Performance Plan units		-		-		265		286
	Denominator for diluted income per share – weighted average
		shares and assumed conversions		189,885		189,600		190,000		189,775

INCOME PER COMMON SHARE – BASIC:
	Income from continuing operations, net		$	1.16	$	0.88	$	0.54	$	1.25
	Income from discontinued operations, net			0.01		-		0.02		0.08
	Net income per common share		$	1.17	$	0.88	$	0.56	$	1.33

INCOME PER COMMON SHARE – DILUTED:
	Income from continuing operations, net		$	1.15	$	0.87	$	0.54	$	1.24
	Income from discontinued operations, net			0.01		-		0.02		0.08
	Net income per common share		$	1.16	$	0.87	$	0.56	$	1.32


(1)	The effect of dilutive securities for the three months ended June 30, 2016 and 2015 excludes an aggregate of 12,278 and 11,381 weighted average common share equivalents, respectively, and 12,052 and 11,209 weighted average common share equivalents for the six months ended June 30, 2016 and 2015, respectively, as their effect was anti-dilutive.