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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES:      
Property rentals $ 1,714,952 $ 1,662,093 $ 1,626,866
Tenant expense reimbursements 233,424 221,563 218,739
Fee and other income 135,750 120,086 139,890
Total revenues 2,084,126 2,003,742 1,985,495
EXPENSES:      
Operating 886,596 844,566 824,511
Depreciation and amortization 429,389 421,023 379,803
General and administrative 158,999 149,550 149,256
Acquisition and transaction related costs 1,776 9,451 12,511
Total expenses 1,476,760 1,424,590 1,366,081
Operating income 607,366 579,152 619,414
Income (loss) from partially owned entities 15,200 168,948 (9,947)
Income (loss) from real estate fund investments 3,240 (23,602) 74,081
Interest and other investment income, net 37,793 29,548 27,240
Interest and debt expense (345,654) (330,240) (309,298)
Net gains on disposition of wholly owned and partially owned assets 501 160,433 149,417
Income before income taxes 318,446 584,239 550,907
Income tax (expense) benefit (41,090) (7,229) 85,012
Income from continuing operations 277,356 577,010 635,919
(Loss) income from discontinued operations (13,228) 404,912 223,511
Net income 264,128 981,922 859,430
Less net income attributable to noncontrolling interests in:      
Consolidated subsidiaries (25,802) (21,351) (55,765)
Operating Partnership (10,910) (53,654) (43,231)
Net income attributable to Vornado / Vornado Realty L.P. 227,416 906,917 760,434
Preferred share dividends / unit distributions (65,399) (75,903) (80,578)
Preferred share / unit issuance cost (Series J redemption) 0 (7,408) 0
NET INCOME attributable to common shareholders / Class A unitholders $ 162,017 $ 823,606 $ 679,856
INCOME PER COMMON SHARE - BASIC:      
Income from continuing operations, net (in dollars per share) $ 0.92 $ 2.35 $ 2.49
(Loss) income from discontinued operations, net (in dollars per share) (0.07) 2.01 1.12
Net income per common share (in dollars per share) $ 0.85 $ 4.36 $ 3.61
Weighted average shares outstanding 189,526 188,837 188,353
INCOME PER COMMON SHARE - DILUTED:      
Income from continuing operations, net (in dollars per share) $ 0.91 $ 2.34 $ 2.48
(Loss) income from discontinued operations, net (in dollars per share) (0.06) 2.00 1.11
Net income per common share (in dollars per share) $ 0.85 $ 4.34 $ 3.59
Weighted average shares outstanding 191,258 190,173 189,564
Vornado Realty L.P.      
REVENUES:      
Property rentals $ 1,714,952 $ 1,662,093 $ 1,626,866
Tenant expense reimbursements 233,424 221,563 218,739
Fee and other income 135,750 120,086 139,890
Total revenues 2,084,126 2,003,742 1,985,495
EXPENSES:      
Operating 886,596 844,566 824,511
Depreciation and amortization 429,389 421,023 379,803
General and administrative 158,999 149,550 149,256
Acquisition and transaction related costs 1,776 9,451 12,511
Total expenses 1,476,760 1,424,590 1,366,081
Operating income 607,366 579,152 619,414
Income (loss) from partially owned entities 15,200 168,948 (9,947)
Income (loss) from real estate fund investments 3,240 (23,602) 74,081
Interest and other investment income, net 37,793 29,548 27,240
Interest and debt expense (345,654) (330,240) (309,298)
Net gains on disposition of wholly owned and partially owned assets 501 160,433 149,417
Income before income taxes 318,446 584,239 550,907
Income tax (expense) benefit (41,090) (7,229) 85,012
Income from continuing operations 277,356 577,010 635,919
(Loss) income from discontinued operations (13,228) 404,912 223,511
Net income 264,128 981,922 859,430
Less net income attributable to noncontrolling interests in:      
Consolidated subsidiaries (25,802) (21,351) (55,765)
Operating Partnership (10,910) (53,654) (43,231)
Net income attributable to Vornado / Vornado Realty L.P. 238,326 960,571 803,665
Preferred share dividends / unit distributions (65,593) (76,097) (80,736)
Preferred share / unit issuance cost (Series J redemption) 0 (7,408) 0
NET INCOME attributable to common shareholders / Class A unitholders $ 172,733 $ 877,066 $ 722,929
INCOME PER CLASS A UNIT - BASIC:      
Income from continuing operations, net (in dollars per share) $ 0.91 $ 2.34 $ 2.49
(Loss) income from discontinued operations, net (in dollars per share) (0.07) 2.02 1.12
Net income per Class A unit (in dollars per share) $ 0.84 $ 4.36 $ 3.61
Weighted average units outstanding 201,214 200,350 199,309
INCOME PER CLASS A UNIT - DILUTED:      
Income from continuing operations, net (in dollars per share) $ 0.90 $ 2.32 $ 2.46
(Loss) income from discontinued operations, net (in dollars per share) (0.07) 2.00 1.11
Net income per Class A unit (in dollars per share) $ 0.83 $ 4.32 $ 3.57
Weighted average units outstanding 203,300 202,017 201,158