Income (Loss) Per Share / Income (Loss) Per Class A Unit (Tables)

3 Months Ended

Mar. 31, 2017

Schedule Of Earnings Per Share Basic And Diluted

The following table provides a reconciliation of both net income (loss) and the number of common shares used in the computation of (i) basic income (loss) per common share - which includes the weighted average number of common shares outstanding without regard to dilutive potential common shares, and (ii) diluted income (loss) 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 March 31,
			2017		2016
Numerator:
	Income (loss) from continuing operations, net of income
		attributable to noncontrolling interests	$	61,605	$	(94,471)
	Income from discontinued operations, net of income attributable to noncontrolling interests			2,276		672
	Net income (loss) attributable to Vornado			63,881		(93,799)
	Preferred share dividends			(16,129)		(20,364)
	Net income (loss) attributable to common shareholders			47,752		(114,163)
	Earnings allocated to unvested participating securities			(15)		(16)
	Numerator for basic and diluted income (loss) per share		$	47,737	$	(114,179)

Denominator:
	Denominator for basic income (loss) per share – weighted average shares			189,210		188,658
	Effect of dilutive securities⁽¹⁾:
		Employee stock options and restricted share awards		1,162		-
	Denominator for diluted income (loss) per share – weighted average
		shares and assumed conversions		190,372		188,658

INCOME (LOSS) PER COMMON SHARE – BASIC:
	Income (loss) from continuing operations, net		$	0.24	$	(0.61)
	Income from discontinued operations, net			0.01		-
	Net income (loss) per common share		$	0.25	$	(0.61)

INCOME (LOSS) PER COMMON SHARE – DILUTED:
	Income (loss) from continuing operations, net		$	0.24	$	(0.61)
	Income from discontinued operations, net			0.01		-
	Net income (loss) per common share		$	0.25	$	(0.61)


(1)	The effect of dilutive securities for the three months ended March 31, 2017 and 2016 excludes an aggregate of 12,405 and 13,281 weighted average common share equivalents, respectively, as their effect was anti-dilutive.

Vornado Realty L.P.

Earnings per share [Line Items]

Schedule Of Earnings Per Share Basic And Diluted

18. Income (Loss) Per Share/Income (Loss) Per Class A Unit - continued

Vornado Realty L.P.

The following table provides a reconciliation of both net income (loss) and the number of Class A units used in the computation of (i) basic income (loss) per Class A unit - which includes the weighted average number of Class A units outstanding without regard to dilutive potential Class A units, and (ii) diluted income (loss) per Class A unit - which includes the weighted average Class A units and dilutive unit equivalents. Dilutive unit equivalents may include our Series A convertible preferred units, Vornado stock options, restricted unit awards and Out-Performance Plan awards.

(Amounts in thousands, except per unit amounts)			For the Three Months Ended March 31,
			2017		2016
Numerator:
	Income (loss) from continuing operations, net of income
		attributable to noncontrolling interests	$	64,682	$	(102,002)
	Income from discontinued operations			2,428		716
	Net income (loss) attributable to Vornado Realty L.P.			67,110		(101,286)
	Preferred unit distributions			(16,178)		(20,412)
	Net income (loss) attributable to Class A unitholders			50,932		(121,698)
	Earnings allocated to unvested participating securities			(1,018)		(772)
	Numerator for basic and diluted income (loss) per Class A unit		$	49,914	$	(122,470)

Denominator:
	Denominator for basic income (loss) per Class A unit – weighted average units			200,845		200,072
	Effect of dilutive securities⁽¹⁾:
		Vornado stock options and restricted unit awards		1,802		-
	Denominator for diluted income (loss) per Class A unit – weighted average
		units and assumed conversions		202,647		200,072

INCOME (LOSS) PER CLASS A UNIT – BASIC:
	Income (loss) from continuing operations, net		$	0.24	$	(0.61)
	Income from discontinued operations, net			0.01		-
	Net income (loss) per Class A unit		$	0.25	$	(0.61)

INCOME (LOSS) PER CLASS A UNIT – DILUTED:
	Income (loss) from continuing operations, net		$	0.24	$	(0.61)
	Income from discontinued operations, net			0.01		-
	Net income (loss) per Class A unit		$	0.25	$	(0.61)


(1)	The effect of dilutive securities for the three months ended March 31, 2017 and 2016 excludes an aggregate of 130 and 1,867 weighted average Class A unit equivalents, respectively, as their effect was anti-dilutive.