Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Segment Information [Abstract]

Schedule of Segment Information

(Amounts in thousands)		For the Year Ended December 31, 2016
			Total		New York			Washington, DC			Other
Total revenues			$	2,506,202	$	1,713,374		$	518,117		$	274,711
Total expenses				1,955,411		1,093,587			528,863			332,961
Operating income (loss)				550,791		619,787			(10,746)			(58,250)
Income (loss) from partially owned entities				165,389		(2,379)			(7,227)			174,995
Loss from real estate fund investments				(23,602)		-			-			(23,602)
Interest and other investment income (loss), net				29,546		5,093			(2)			24,455
Interest and debt expense				(402,674)		(216,685)			(72,434)			(113,555)
Net gain on extinguishment of Skyline properties debt				487,877		-			487,877			-
Net gain on disposition of wholly owned and partially
	owned assets			175,735		159,511			15,302			922
Income before income taxes				983,062		565,327			412,770			4,965
Income tax expense				(8,312)		(5,508)			(1,083)			(1,721)
Income from continuing operations				974,750		559,819			411,687			3,244
Income from discontinued operations				7,172		-			-			7,172
Net income				981,922		559,819			411,687			10,416
Less net income attributable to noncontrolling interests
	in consolidated subsidiaries			(21,351)		(13,558)			-			(7,793)
Net income attributable to the Operating Partnership				960,571		546,261			411,687			2,623
Interest and debt expense(2)				507,362		280,563			81,723			145,076
Depreciation and amortization(2)				694,214		435,961			158,720			99,533
Income tax expense(2)				11,838		5,911			2,979			2,948
EBITDA(1)			$	2,173,985	$	1,268,696	(3)	$	655,109	(4)	$	250,180	(5)
Balance Sheet Data:
Real estate, at cost			$	18,339,958	$	10,787,730		$	4,152,138		$	3,400,090
Investments in partially owned entities				1,428,019		1,080,064			94,870			253,085
Total assets				20,814,847		13,312,116			3,645,525			3,857,206
See notes on pages 156 and 157.

(Amounts in thousands)		For the Year Ended December 31, 2015
			Total		New York			Washington, DC			Other
Total revenues			$	2,502,267	$	1,695,925		$	532,812		$	273,530
Total expenses				1,742,019		1,032,015			390,921			319,083
Operating income (loss)				760,248		663,910			141,891			(45,553)
(Loss) income from partially owned entities				(12,630)		655			(6,020)			(7,265)
Income from real estate fund investments				74,081		-			-			74,081
Interest and other investment income (loss), net				26,978		7,722			(262)			19,518
Interest and debt expense				(378,025)		(194,278)			(68,727)			(115,020)
Net gain on disposition of wholly owned and partially
	owned assets			251,821		142,693			102,404			6,724
Income (loss) before income taxes				722,473		620,702			169,286			(67,515)
Income tax benefit (expense)				84,695		(4,379)			(317)			89,391
Income from continuing operations				807,168		616,323			168,969			21,876
Income from discontinued operations				52,262		-			-			52,262
Net income				859,430		616,323			168,969			74,138
Less net income attributable to noncontrolling interests
	in consolidated subsidiaries			(55,765)		(13,022)			-			(42,743)
Net income attributable to the Operating Partnership				803,665		603,301			168,969			31,395
Interest and debt expense(2)				469,843		248,724			80,795			140,324
Depreciation and amortization(2)				664,637		394,028			178,021			92,588
Income tax (benefit) expense(2)				(85,379)		4,766			(1,610)			(88,535)
EBITDA(1)			$	1,852,766	$	1,250,819	(3)	$	426,175	(4)	$	175,772	(5)
Balance Sheet Data:
Real estate, at cost			$	18,090,137	$	10,577,078		$	4,544,842		$	2,968,217
Investments in partially owned entities				1,550,422		1,195,122			80,708			274,592
Total assets				21,143,293		12,257,774			4,517,092			4,368,427
See notes on pages 156 and 157.

(Amounts in thousands)		For the Year Ended December 31, 2014
			Total		New York			Washington, DC			Other
Total revenues			$	2,312,512	$	1,520,845		$	537,151		$	254,516
Total expenses				1,622,619		946,466			358,019			318,134
Operating income (loss)				689,893		574,379			179,132			(63,618)
(Loss) income from partially owned entities				(59,861)		20,701			(4,767)			(75,795)
Income from real estate fund investments				163,034		-			-			163,034
Interest and other investment income, net				38,752		6,711			183			31,858
Interest and debt expense				(412,755)		(183,427)			(75,395)			(153,933)
Net gain on disposition of wholly owned and partially
	owned assets			13,568		-			-			13,568
Income (loss) before income taxes				432,631		418,364			99,153			(84,886)
Income tax expense				(9,281)		(4,305)			(242)			(4,734)
Income (loss) from continuing operations				423,350		414,059			98,911			(89,620)
Income from discontinued operations				585,676		463,163			-			122,513
Net income				1,009,026		877,222			98,911			32,893
Less net income attributable to noncontrolling interests
	in consolidated subsidiaries			(96,561)		(8,626)			-			(87,935)
Net income (loss) attributable to the Operating Partnership				912,465		868,596			98,911			(55,042)
Interest and debt expense(2)				654,398		241,959			87,778			324,661
Depreciation and amortization(2)				685,973		324,239			144,124			217,610
Income tax expense(2)				24,248		4,395			288			19,565
EBITDA(1)			$	2,277,084	$	1,439,189	(3)	$	331,101	(4)	$	506,794	(5)
Balance Sheet Data:
Real estate, at cost			$	16,822,358	$	9,732,818		$	4,383,418		$	2,706,122
Investments in partially owned entities				1,240,489		1,036,130			83,428			120,931
Total assets				21,157,980		10,706,476			4,281,421			6,170,083
See notes on the following pages.

Notes to preceding tabular information:
(1)	We calculate EBITDA on an Operating Partnership basis which is before allocation to the noncontrolling interest of the Operating Partnership. We consider EBITDA a non-GAAP financial measure for making decisions and assessing the unlevered performance of our segments as it relates to the total return on assets as opposed to the levered return on equity. As properties are bought and sold based on a multiple of EBITDA, we utilize this measure to make investment decisions as well as to compare the performance of our assets to that of our peers. EBITDA should not be considered a substitute for net income. EBITDA may not be comparable to similarly titled measures employed by other companies.Our 7.5% interest in Fashion Centre Mall/Washington Tower will not be included in the spin-off of our Washington, DC segment and have been reclassified to Other. The prior year's presentation has been conformed to the current year.
(2)	Interest and debt expense, depreciation and amortization and income tax expense (benefit) in the reconciliation of net income to EBITDA includes our share of these items from partially owned entities.
(3)	The elements of "New York" EBITDA are summarized below.
	(Amounts in thousands)			For the Year Ended December 31,
				2016		2015		2014
	Office			$	805,708	$	804,272	$	1,063,355
	Retail				381,739		358,379		281,428
	Residential				25,060		22,266		21,907
	Alexander's				46,182		42,858		41,746
	Hotel Pennsylvania				10,007		23,044		30,753
		Total New York EBITDA			1,268,696		1,250,819		1,439,189
	Certain items that impact EBITDA:
		Net gains on sale of real estate			(159,511)		(142,693)		(440,537)
		EBITDA from discontinued operations and sold properties			(3,120)		(35,985)		(39,743)
		Other			-		(1,300)		(171)
		Certain items that impact EBITDA			(162,631)		(179,978)		(480,451)
			Total New York EBITDA, as adjusted	$	1,106,065	$	1,070,841	$	958,738
(4)	The elements of "Washington, DC" EBITDA are summarized below.
	(Amounts in thousands)			For the Year Ended December 31,
				2016		2015		2014
	Office, excluding the Skyline properties			$	260,436	$	359,063	$	260,270
	Skyline properties				348,016		26,325		29,250
		Total Office			608,452		385,388		289,520
	Residential				46,657		40,787		41,581
		Total Washington, DC EBITDA			655,109		426,175		331,101
	Certain items that impact EBITDA:
		Net gain on extinguishment of Skyline properties debt			(487,877)		-		-
		Skyline properties impairment loss			160,700		-		-
		EBITDA from discontinued operations and sold properties			(22,131)		(33,605)		(38,876)
		Net gains on sale of real estate and a land parcel			(15,302)		(102,404)		(1,800)
		Other			-		405		-
		Certain items that impact EBITDA			(364,610)		(135,604)		(40,676)
			Total Washington, DC EBITDA, as adjusted	$	290,499	$	290,571	$	290,425

Details of Other EBITDA

Notes to preceding tabular information:
(5)	The elements of "Other" EBITDA are summarized below.
	(Amounts in thousands)		For the Year Ended December 31,
			2016		2015			2014
	Our share of real estate fund investments:
		Income before net realized/unrealized (loss) gain	$	8,607	$	8,611	$	8,056
		Net realized/unrealized (loss) gain		(16,270)		14,657		37,535
		Carried interest		(13,379)		10,696		24,715
	Total (loss) income from real estate fund investments			(21,042)		33,964		70,306
	theMART (including trade shows)			91,845		79,159		79,636
	555 California Street			45,827		49,975		48,844
	India real estate ventures			3,685		3,933		6,434
	Our share of Toys(a)			2,000		2,500		103,632
	Other investments			77,240		42,436		21,385
				199,555		211,967		330,237
	Corporate general and administrative expenses(b)(c)			(100,594)		(106,416)		(94,929)
	Investment income and other, net(b)			22,501		26,385		31,665
	Income from the repayment of our investments in 85 Tenth Avenue loans
		and preferred equity		160,843		-		-
	Acquisition and transaction related costs			(26,062)		(12,511)		(16,392)
	Our share of impairment losses on India real estate ventures			(13,962)		(14,806)		(5,771)
	Discontinued operations(d)			7,185		28,314		245,679
	Net gains on sale of real estate			714		44,390		26,568
	Impairment loss and loan loss reserve on investment in Suffolk Downs			-		(1,551)		(10,263)
		Total Other	$	250,180	$	175,772	$	506,794
	(a)	As a result of our investment being reduced to zero, we suspended equity method accounting in 2014. The year ended December 31, 2014 includes an impairment loss of $75,196.
	(b)	The amounts in these captions (for this table only) exclude the results of the mark-to-market of our deferred compensation plan of $5,213, $111, and $11,557 of income, respectively.
	(c)	The year ended December 31, 2015 includes a cumulative catch up of $4,542 from the acceleration of recognition of compensation expense related to the modification of the 2012-2014 Out-Performance Plans.
	(d)	The years ended December 31, 2015 and 2014 include $22,684 and $14,956, respectively, of transaction costs related to the spin-off of our strip shopping centers and malls.