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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES:      
Total revenues $ 1,924,700 $ 2,163,720 $ 2,084,126
EXPENSES:      
Operating (917,981) (963,478) (886,596)
Depreciation and amortization (419,107) (446,570) (429,389)
General and administrative (169,920) (141,871) (150,782)
(Expense) benefit from deferred compensation plan liability (11,609) 2,480 (6,932)
Transaction related costs, impairment losses and other (106,538) (31,320) (1,776)
Total expenses (1,625,155) (1,580,759) (1,475,475)
Income from partially owned entities 78,865 9,149 15,200
(Loss) income from real estate fund investments (104,082) (89,231) 3,240
Interest and other investment income, net 21,819 17,057 30,861
Income (loss) from deferred compensation plan assets 11,609 (2,480) 6,932
Interest and debt expense (286,623) (347,949) (345,654)
Net gain on transfer to Fifth Avenue and Times Square JV 2,571,099 0 0
Purchase price fair value adjustment 0 44,060 0
Net gains on disposition of wholly owned and partially owned assets 845,499 246,031 501
Income before income taxes 3,437,731 459,598 319,731
Income tax expense (103,439) (37,633) (42,375)
Income from continuing operations 3,334,292 421,965 277,356
(Loss) income from discontinued operations (30) 638 (13,228)
Net income 3,334,262 422,603 264,128
Less net loss (income) attributable to noncontrolling interests in:      
Consolidated subsidiaries 24,547 53,023 (25,802)
Operating Partnership (210,872) (25,672) (10,910)
Net income attributable to Vornado / Vornado Realty L.P. 3,147,937 449,954 227,416
Preferred share dividends / unit distributions (50,131) (50,636) (65,399)
Preferred share / unit issuance costs 0 (14,486) 0
NET INCOME attributable to common shareholders / Class A unitholders $ 3,097,806 $ 384,832 $ 162,017
INCOME PER COMMON SHARE - BASIC:      
Income from continuing operations, net (in dollars per share) $ 16.23 $ 2.02 $ 0.92
Loss from discontinued operations, net (in dollars per share) 0 0 (0.07)
Net income per common share (in dollars per share) $ 16.23 $ 2.02 $ 0.85
Weighted average shares outstanding 190,801 190,219 189,526
INCOME PER COMMON SHARE - DILUTED:      
Income from continuing operations, net (in dollars per share) $ 16.21 $ 2.01 $ 0.91
Loss from discontinued operations, net (in dollars per share) 0 0 (0.06)
Net income per common share (in dollars per share) $ 16.21 $ 2.01 $ 0.85
Weighted average shares outstanding 191,053 191,290 191,258
Vornado Realty L.P.      
REVENUES:      
Total revenues $ 1,924,700 $ 2,163,720 $ 2,084,126
EXPENSES:      
Operating (917,981) (963,478) (886,596)
Depreciation and amortization (419,107) (446,570) (429,389)
General and administrative (169,920) (141,871) (150,782)
(Expense) benefit from deferred compensation plan liability (11,609) 2,480 (6,932)
Transaction related costs, impairment losses and other (106,538) (31,320) (1,776)
Total expenses (1,625,155) (1,580,759) (1,475,475)
Income from partially owned entities 78,865 9,149 15,200
(Loss) income from real estate fund investments (104,082) (89,231) 3,240
Interest and other investment income, net 21,819 17,057 30,861
Income (loss) from deferred compensation plan assets 11,609 (2,480) 6,932
Interest and debt expense (286,623) (347,949) (345,654)
Net gain on transfer to Fifth Avenue and Times Square JV 2,571,099 0 0
Purchase price fair value adjustment 0 44,060 0
Net gains on disposition of wholly owned and partially owned assets 845,499 246,031 501
Income before income taxes 3,437,731 459,598 319,731
Income tax expense (103,439) (37,633) (42,375)
Income from continuing operations 3,334,292 421,965 277,356
(Loss) income from discontinued operations (30) 638 (13,228)
Net income 3,334,262 422,603 264,128
Less net loss (income) attributable to noncontrolling interests in:      
Consolidated subsidiaries 24,547 53,023 (25,802)
Operating Partnership (210,872) (25,672) (10,910)
Net income attributable to Vornado / Vornado Realty L.P. 3,358,809 475,626 238,326
Preferred share dividends / unit distributions (50,296) (50,830) (65,593)
Preferred share / unit issuance costs 0 (14,486) 0
NET INCOME attributable to common shareholders / Class A unitholders $ 3,308,513 $ 410,310 $ 172,733
INCOME PER CLASS A UNIT - BASIC:      
Income from continuing operations, net (in dollars per share) $ 16.22 $ 2.01 $ 0.91
Income (loss) from discontinued operations, net (in dollars per share) 0 0.01 (0.07)
Net income per Class A unit (in dollars per share) $ 16.22 $ 2.02 $ 0.84
Weighted average units outstanding 202,947 202,068 201,214
INCOME PER CLASS A UNIT - DILUTED:      
Income from continuing operations, net (in dollars per share) $ 16.19 $ 2.00 $ 0.90
Loss from discontinued operations, net (in dollars per share) 0 0 (0.07)
Net income per Class A unit (in dollars per share) $ 16.19 $ 2.00 $ 0.83
Weighted average units outstanding 203,248 203,412 203,300
Rental revenues      
REVENUES:      
Total revenues $ 1,767,222 $ 2,007,333 $ 1,948,376
Rental revenues | Vornado Realty L.P.      
REVENUES:      
Total revenues 1,767,222 2,007,333 1,948,376
Fee and other income      
REVENUES:      
Total revenues 157,478 156,387 135,750
Fee and other income | Vornado Realty L.P.      
REVENUES:      
Total revenues $ 157,478 $ 156,387 $ 135,750