Income Per Share (Tables)

9 Months Ended

Sep. 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 Nine Months Ended
			September 30,				September 30,
			2016		2015		2016		2015
Numerator:
	Income from continuing operations, net of income
		attributable to noncontrolling interests	$	89,793	$	186,833	$	233,826	$	462,040
	Income from discontinued operations, net of income
		attributable to noncontrolling interests		2,787		32,401		5,781		47,287
	Net income attributable to Vornado			92,580		219,234		239,607		509,327
	Preferred share dividends			(19,047)		(20,364)		(59,774)		(60,213)
	Preferred share issuance costs (Series J redemption)			(7,408)		-		(7,408)		-
	Net income attributable to common shareholders			66,125		198,870		172,425		449,114
	Earnings allocated to unvested participating securities			(13)		(18)		(43)		(56)
	Numerator for basic income per share			66,112		198,852		172,382		449,058
	Impact of assumed conversions:
		Convertible preferred share dividends		-		23		-		69
		Earnings allocated to Out-Performance Plan units		-		-		96		628
	Numerator for diluted income per share		$	66,112	$	198,875	$	172,478	$	449,755

Denominator:
	Denominator for basic income per share – weighted average shares			188,901		188,504		188,778		188,291
	Effect of dilutive securities⁽¹⁾:
		Employee stock options and restricted share awards		1,147		1,032		1,067		1,187
		Convertible preferred shares		-		45		-		46
		Out-Performance Plan units		-		-		241		265
	Denominator for diluted income per share – weighted average
		shares and assumed conversions		190,048		189,581		190,086		189,789

INCOME PER COMMON SHARE – BASIC:
	Income from continuing operations, net		$	0.34	$	0.88	$	0.88	$	2.13
	Income from discontinued operations, net			0.01		0.17		0.03		0.25
	Net income per common share		$	0.35	$	1.05	$	0.91	$	2.38

INCOME PER COMMON SHARE – DILUTED:
	Income from continuing operations, net		$	0.33	$	0.88	$	0.88	$	2.12
	Income from discontinued operations, net			0.02		0.17		0.03		0.25
	Net income per common share		$	0.35	$	1.05	$	0.91	$	2.37


(1)	The effect of dilutive securities for the three months ended September 30, 2016 and 2015 excludes an aggregate of 12,315 and 11,871 weighted average common share equivalents, respectively, and 12,072 and 11,341 weighted average common share equivalents for the nine months ended September 30, 2016 and 2015, respectively, as their effect was anti-dilutive.