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Shareholders' Equity
 12 Months Ended
Dec. 31, 2016
Shareholders' Equity

10. Shareholders’ Equity/Partners’ Capital

Common Shares (Vornado Realty Trust)

As of December 31, 2016, there were 189,100,876 common shares outstanding. During 2016, we paid an aggregate of $475,961,000 of common dividends comprised of quarterly common dividends of $0.63 per share.

On September 1, 2016, we redeemed all of the outstanding 6.875% Series J cumulative redeemable preferred shares/units at their redemption price of $25.00 per share/unit, or $246,250,000 in the aggregate, plus accrued and unpaid dividends/distributions through the date of redemption. In connection therewith, we expensed $7,408,000 of issuance costs, which reduced net income attributable to common shareholders and net income attributable to Class A unitholders in the twelve months ended December 31, 2016. These costs had been initially recorded as a reduction of shareholders’ equity and partners’ capital.

The following table sets forth the details of our preferred shares of beneficial interest and the preferred units of the Operating Partnership as of December 31, 2016 and 2015.

(Amounts in thousands, except share/unit andPerAnnual
per share/per unit amounts)Balance as ofShares/Units Outstanding atShare/UnitDividend/
December 31,December 31,LiquidationDistribution
Preferred Shares/Units2016201520162015PreferenceRate(1)
Convertible Preferred:
6.5% Series A: authorized 83,977 shares/units(2)$1,264$1,32124,82926,629$50.00$3.25
Cumulative Redeemable Preferred:
6.625% Series G: authorized 8,000,000 shares/units(3)193,135193,1358,000,0008,000,000$25.00$1.65625
6.625% Series I: authorized 10,800,000 shares/units(3)262,379262,37910,800,00010,800,000$25.00$1.65625
6.875% Series J: authorized 9,850,000 shares/units-238,842-9,850,000n/an/a
5.70% Series K: authorized 12,000,000 shares/units(3)290,971290,97112,000,00012,000,000$25.00$1.425
5.40% Series L: authorized 12,000,000 shares/units(3)290,306290,30612,000,00012,000,000$25.00$1.35
$1,038,055$1,276,95442,824,82952,676,629
(1)Dividends on preferred shares and distributions on preferred units are cumulative and are payable quarterly in arrears.
(2)Redeemable at the option of Vornado under certain circumstances, at a redemption price of 1.5934 common shares/Class A units per Series A Preferred Share/Unit plus accrued and unpaid dividends/distributions through the date of redemption, or convertible at any time at the option of the holder for 1.5934 common shares/Class A units per Series A Preferred Share/Unit.
(3)Redeemable at Vornado's option at a redemption price of $25.00 per share/unit, plus accrued and unpaid dividends/distributions through the date of redemption.

Accumulated Other Comprehensive Income (Loss)

The following tables set forth the changes in accumulated other comprehensive income (loss) by component.

(Amounts in thousands)For the Year Ended December 31, 2016
SecuritiesPro rata share ofInterest
available-nonconsolidatedrate
Totalfor-salesubsidiaries' OCIswapOther
Balance as of December 31, 2015$46,921$78,448$(9,319)$(19,368)$(2,840)
Net current period OCI72,05152,057(2,739)27,434(4,701)
Balance as of December 31, 2016$118,972$130,505$(12,058)$8,066$(7,541)
Vornado Realty L.P.  
Shareholders' Equity

Class A Units (Vornado Realty L.P.)

As of December 31, 2016, there were 189,100,876 Class A units outstanding that were held by Vornado. These units are classified as “partners’ capital” on the consolidated balance sheets of the Operating Partnership. As of December 31, 2016, there were 12,197,162 Class A units outstanding, that were held by third parties. These units are classified outside of “partners’ capital” as “redeemable partnership units” on the consolidated balance sheets of the Operating Partnership (See Note 9 – Redeemable Noncontrolling Interests/Redeemable Partnership Units). During 2016, the Operating Partnership paid an aggregate of $475,961,000 of distributions to Vornado comprised of quarterly common distributions of $0.63 per unit.