Shareholders' Equity/Partners' Capital

9 Months Ended

Sep. 30, 2020

Common Shares (Vornado Realty Trust)

On December 18, 2019, Vornado's Board of Trustees declared a special dividend of $1.95 per share, or $372,380,000 in the aggregate, which was paid on January 15, 2020 to common shareholders of record on December 30, 2019 (the "Record Date").

Class A Units (Vornado Realty L.P.)

On January 15, 2020, distributions of $1.95 per unit, or $398,292,000 in the aggregate, were paid to Class A unitholders of the Operating Partnership as of the Record Date, of which $372,380,000 was distributed to Vornado, in connection with the special dividend declared on December 18, 2019 by Vornado's Board of Trustees.

The following table sets forth the details of our dividends/distributions per common share/Class A unit and dividends/distributions per share/unit for each class of preferred shares/units of beneficial interest.


(Per share/unit)	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Shares/Units:
Common shares/Class A units held by Vornado: authorized 250,000,000 shares/units	$	0.53	$	0.66	$	1.85	$	1.98
Convertible Preferred(1):
6.5% Series A: authorized 13,402 and 83,977 shares/units(2)	0.8125		0.8125		2.4375		2.4375
Cumulative Redeemable Preferred(1):
5.70% Series K: authorized 12,000,000 shares/units(3)	0.3563		0.3563		1.0689		1.0689
5.40% Series L: authorized 13,800,000 shares/units(3)	0.3375		0.3375		1.0125		1.0125
5.25% Series M: authorized 13,800,000 shares/units(3)	0.3281		0.3281		0.9843		0.9843

____________________

(1)Dividends on preferred shares and distributions on preferred units are cumulative and are payable quarterly in arrears.

(2)Redeemable at the option of Vornado under certain circumstances, at a redemption price of 1.9531 common shares/Class A units per Series A Preferred Share/Unit plus accrued and unpaid dividends/distributions through the date of redemption, or convertible at any time at the option of the holder for 1.9531 common shares/Class A units per Series A Preferred Share/Unit.

(3)Redeemable at Vornado's option at a redemption price of $25.00 per share/unit, plus accrued and unpaid dividends/distributions through the date of redemption.

13. Shareholders' Equity/Partners' Capital - continued

Accumulated Other Comprehensive Loss

The following tables set forth the changes in accumulated other comprehensive loss by component.


(Amounts in thousands)	Total		Accumulated other comprehensive income (loss) of nonconsolidated subsidiaries		Interest rate swaps		Other
For the Three Months Ended September 30, 2020:
Balance as of June 30, 2020	$	(82,646)	$	12	$	(81,525)	$	(1,133)
Other comprehensive (loss) income	(7,188)		(15,634)		7,926		520

Balance as of September 30, 2020	$	(89,834)	$	(15,622)	$	(73,599)	$	(613)

For the Three Months Ended September 30, 2019:
Balance as of June 30, 2019	$	(38,066)	$	(18)	$	(33,785)	$	(4,263)
Other comprehensive (loss) income	(9,293)		11		(9,953)		649

Balance as of September 30, 2019	$	(47,359)	$	(7)	$	(43,738)	$	(3,614)

For the Nine Months Ended September 30, 2020:
Balance as of December 31, 2019	$	(40,233)	$	4	$	(36,126)	$	(4,111)
Other comprehensive (loss) income	(49,601)		(15,626)		(37,473)		3,498

Balance as of September 30, 2020	$	(89,834)	$	(15,622)	$	(73,599)	$	(613)

For the Nine Months Ended September 30, 2019:
Balance as of December 31, 2018	$	7,664	$	3,253	$	11,759	$	(7,348)
Other comprehensive (loss) income	(52,712)		(949)		(55,497)		3,734
Amount reclassified from accumulated other comprehensive loss	(2,311)		(2,311)		—		—
Balance as of September 30, 2019	$	(47,359)	$	(7)	$	(43,738)	$	(3,614)