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Redeemable Noncontrolling Interests / Redeemable Partnership Units (Tables)
 12 Months Ended
Dec. 31, 2019
Noncontrolling Interest [Abstract]  
Operating Partnership Units Held By Third Parties
Below are the details of redeemable noncontrolling interests/redeemable partnership units as of December 31, 2019 and 2018.
(Amounts in thousands, except units and per unit amounts)
 
Balance as of
December 31,
 
Units Outstanding as of
December 31,
 
Per Unit
Liquidation
Preference
 
Preferred or
Annual
Distribution
Rate
Unit Series
 
2019
 
2018
 
2019
 
2018
 
 
Common:
 
 
 
 
 
 
 
 
 
 
 
 
Class A units held by third parties
 
$
884,380

 
$
778,134

 
13,298,956

 
12,544,477

 
n/a

 
$
2.64

 
 
 
 
 
 
 
 
 
 
 
 
 
Perpetual Preferred/Redeemable Preferred(1):
 
 
 
 
 
 
 
 
 
 
 
 
5.00% D-16 Cumulative Redeemable
 
$
1,000

 
$
1,000

 
1

 
1

 
$
1,000,000.00

 
$
50,000.00

3.25% D-17 Cumulative Redeemable
 
$
3,535

 
$
4,428

 
141,400

 
177,100

 
$
25.00

 
$
0.8125

________________________________________
(1)
Holders may tender units for redemption to the Operating Partnership for cash at their stated redemption amount; Vornado, at its option, may assume that obligation and pay the holders either cash or Vornado preferred shares on a one-for-one basis. These units are redeemable at Vornado's option at any time.
Summary Of Activity Of Redeemable Noncontrolling Interests
Below is a table summarizing the activity of redeemable noncontrolling interests/redeemable partnership units.
(Amounts in thousands)
For the Year Ended December 31,
 
2019
 
2018
Beginning balance
$
783,562

 
$
984,937

Net income
210,872

 
25,672

Other comprehensive loss
(3,235
)
 
(836
)
Distributions
(34,607
)
 
(31,828
)
Special distribution declared on December 18, 2019 (see Note 12 - Shareholders' Equity/Partners' Capital)
(25,912
)
 
—

Redemption of Class A units for Vornado common shares, at redemption value
(11,250
)
 
(17,068
)
Adjustments to carry redeemable Class A units at redemption value
(70,810
)
 
(198,064
)
Other, net
40,295

 
20,749

Ending balance
$
888,915

 
$
783,562