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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES:        
Revenues $ 363,962 $ 465,961 $ 1,151,520 $ 1,463,732
EXPENSES:        
Operating (195,645) (226,359) (600,077) (694,006)
Depreciation and amortization (107,013) (96,437) (292,611) (326,181)
General and administrative (32,407) (33,237) (120,255) (130,129)
(Expense) benefit from deferred compensation plan liability (4,341) (974) 548 (7,722)
(Expense from transaction related costs and impairment losses) and gain from lease liability extinguishment, net (584) (1,576) 68,566 (103,315)
Total expenses (339,990) (358,583) (943,829) (1,261,353)
(Loss) income from partially owned entities (80,909) 25,946 (353,679) 56,139
(Loss) income from real estate fund investments (13,823) 2,190 (225,328) (13,780)
Interest and other investment income (loss), net 1,729 3,045 (7,068) 15,930
Income (loss) from deferred compensation plan assets 4,341 974 (548) 7,722
Interest and debt expense (57,371) (61,448) (174,618) (226,940)
Net gain on transfer to Fifth Avenue and Times Square JV 0 0 0 2,571,099
Net gains on disposition of wholly owned and partially owned assets 214,578 309,657 338,862 641,664
Income (loss) before income taxes 92,517 387,742 (214,688) 3,254,213
Income tax expense (23,781) (23,885) (38,431) (80,542)
Income (loss) from continuing operations 68,736 363,857 (253,119) 3,173,671
Loss from discontinued operations 0 (8) 0 (85)
Net income (loss) 68,736 363,849 (253,119) 3,173,586
Less net loss (income) attributable to noncontrolling interests / consolidated subsidiaries in:        
Consolidated subsidiaries 848 (5,774) 141,003 (34,045)
Operating Partnership (3,884) (22,637) 10,090 (197,354)
Net (loss) income attributable to Vornado / Vornado Realty L.P. 65,700 335,438 (102,026) 2,942,187
Preferred share dividends / unit distributions (12,530) (12,532) (37,591) (37,598)
NET (LOSS) INCOME attributable to common shareholders / Class A unitholders $ 53,170 $ 322,906 $ (139,617) $ 2,904,589
INCOME (LOSS) PER COMMON SHARE - BASIC:        
Net income (loss) per common share (in dollars per share) $ 0.28 $ 1.69 $ (0.73) $ 15.22
Weighted average shares outstanding, basic (in shares) 191,162 190,814 191,102 190,762
INCOME (LOSS) PER COMMON SHARE - DILUTED:        
Net income (loss) per common share (in dollars per share) $ 0.28 $ 1.69 $ (0.73) $ 15.20
Weighted average shares outstanding, diluted (in shares) 191,162 191,024 191,102 191,027
Vornado Realty L.P.        
REVENUES:        
Revenues $ 363,962 $ 465,961 $ 1,151,520 $ 1,463,732
EXPENSES:        
Operating (195,645) (226,359) (600,077) (694,006)
Depreciation and amortization (107,013) (96,437) (292,611) (326,181)
General and administrative (32,407) (33,237) (120,255) (130,129)
(Expense) benefit from deferred compensation plan liability (4,341) (974) 548 (7,722)
(Expense from transaction related costs and impairment losses) and gain from lease liability extinguishment, net (584) (1,576) 68,566 (103,315)
Total expenses (339,990) (358,583) (943,829) (1,261,353)
(Loss) income from partially owned entities (80,909) 25,946 (353,679) 56,139
(Loss) income from real estate fund investments (13,823) 2,190 (225,328) (13,780)
Interest and other investment income (loss), net 1,729 3,045 (7,068) 15,930
Income (loss) from deferred compensation plan assets 4,341 974 (548) 7,722
Interest and debt expense (57,371) (61,448) (174,618) (226,940)
Net gain on transfer to Fifth Avenue and Times Square JV 0 0 0 2,571,099
Net gains on disposition of wholly owned and partially owned assets 214,578 309,657 338,862 641,664
Income (loss) before income taxes 92,517 387,742 (214,688) 3,254,213
Income tax expense (23,781) (23,885) (38,431) (80,542)
Income (loss) from continuing operations 68,736 363,857 (253,119) 3,173,671
Loss from discontinued operations 0 (8) 0 (85)
Net income (loss) 68,736 363,849 (253,119) 3,173,586
Less net loss (income) attributable to noncontrolling interests / consolidated subsidiaries in:        
Consolidated subsidiaries 848 (5,774) 141,003 (34,045)
Operating Partnership (3,884) (22,637) 10,090 (197,354)
Net (loss) income attributable to Vornado / Vornado Realty L.P. 69,584 358,075 (112,116) 3,139,541
Preferred share dividends / unit distributions (12,572) (12,574) (37,715) (37,722)
NET (LOSS) INCOME attributable to common shareholders / Class A unitholders $ 57,012 $ 345,501 $ (149,831) $ 3,101,819
INCOME (LOSS) PER CLASS A UNIT - BASIC:        
Net income (loss) per Class A unit (in dollars per unit) $ 0.28 $ 1.69 $ (0.76) $ 15.21
Weighted average units outstanding, basic (in shares) 203,554 203,009 203,480 202,903
INCOME (LOSS) PER CLASS A UNIT - DILUTED:        
Net income (loss) per Class A unit (in dollars per unit) $ 0.28 $ 1.69 $ (0.76) $ 15.18
Weighted average units outstanding, diluted (in shares) 203,554 203,550 203,480 203,416
Rental revenues        
REVENUES:        
Revenues $ 322,253 $ 427,638 $ 1,038,721 $ 1,348,814
Rental revenues | Vornado Realty L.P.        
REVENUES:        
Revenues 322,253 427,638 1,038,721 1,348,814
Fee and other income        
REVENUES:        
Revenues 41,709 38,323 112,799 114,918
Fee and other income | Vornado Realty L.P.        
REVENUES:        
Revenues $ 41,709 $ 38,323 $ 112,799 $ 114,918