XML 105 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUES:    
Revenues $ 444,532 $ 534,668
EXPENSES:    
Operating (230,007) (246,895)
Depreciation and amortization (92,793) (116,709)
General and administrative (52,834) (58,020)
Benefit (expense) from deferred compensation plan liability 11,245 (5,433)
Transaction related costs, impairment losses and other (71) (149)
Total expenses (364,460) (427,206)
Income from partially owned entities 19,103 7,320
Loss from real estate fund investments (183,463) (167)
Interest and other investment (loss) income, net (5,904) 5,045
(Loss) income from deferred compensation plan assets (11,245) 5,433
Interest and debt expense (58,842) (102,463)
Net gains on disposition of wholly owned and partially owned assets 68,589 220,294
(Loss) income before income taxes (91,690) 242,924
Income tax expense (12,813) (29,743)
(Loss) income from continuing operations (104,503) 213,181
Loss from discontinued operations 0 (137)
Net (loss) income (104,503) 213,044
Less net loss (income) attributable to noncontrolling interests / consolidated subsidiaries in:    
Consolidated subsidiaries 122,387 (6,820)
Operating Partnership (390) (12,202)
Net income attributable to Vornado / Vornado Realty L.P. 17,494 194,022
Preferred share dividends / unit distributions (12,531) (12,534)
NET INCOME attributable to common shareholders / Class A unitholders $ 4,963 $ 181,488
INCOME PER COMMON SHARE - BASIC:    
Net income per common share (in dollars per share) $ 0.03 $ 0.95
Weighted average shares outstanding, basic (in shares) 191,038 190,689
INCOME PER COMMON SHARE - DILUTED:    
Net income per common share (in dollars per share) $ 0.03 $ 0.95
Weighted average shares outstanding, diluted (in shares) 191,113 190,996
Vornado Realty L.P.    
REVENUES:    
Revenues $ 444,532 $ 534,668
EXPENSES:    
Operating (230,007) (246,895)
Depreciation and amortization (92,793) (116,709)
General and administrative (52,834) (58,020)
Benefit (expense) from deferred compensation plan liability 11,245 (5,433)
Transaction related costs, impairment losses and other (71) (149)
Total expenses (364,460) (427,206)
Income from partially owned entities 19,103 7,320
Loss from real estate fund investments (183,463) (167)
Interest and other investment (loss) income, net (5,904) 5,045
(Loss) income from deferred compensation plan assets (11,245) 5,433
Interest and debt expense (58,842) (102,463)
Net gains on disposition of wholly owned and partially owned assets 68,589 220,294
(Loss) income before income taxes (91,690) 242,924
Income tax expense (12,813) (29,743)
(Loss) income from continuing operations (104,503) 213,181
Loss from discontinued operations 0 (137)
Net (loss) income (104,503) 213,044
Less net loss (income) attributable to noncontrolling interests / consolidated subsidiaries in:    
Consolidated subsidiaries 122,387 (6,820)
Operating Partnership (390) (12,202)
Net income attributable to Vornado / Vornado Realty L.P. 17,884 206,224
Preferred share dividends / unit distributions (12,572) (12,575)
NET INCOME attributable to common shareholders / Class A unitholders $ 5,312 $ 193,649
INCOME PER CLASS A UNIT - BASIC:    
Net income per Class A unit (in dollars per unit) $ 0 $ 0.95
Weighted average units outstanding, basic (in shares) 203,370 202,772
INCOME PER CLASS A UNIT - DILUTED:    
Net income per Class A unit (in dollars per unit) $ 0 $ 0.95
Weighted average units outstanding, diluted (in shares) 203,516 203,344
Rental revenues    
REVENUES:    
Revenues $ 401,274 $ 499,877
Rental revenues | Vornado Realty L.P.    
REVENUES:    
Revenues 401,274 499,877
Fee and other income    
REVENUES:    
Revenues 43,258 34,791
Fee and other income | Vornado Realty L.P.    
REVENUES:    
Revenues $ 43,258 $ 34,791