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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 53,375 $ 26,993
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including amortization of deferred financing costs) 122,271 100,034
Distributions of income from partially owned entities 37,778 61,157
Equity in net income of partially owned entities (33,714) (29,073)
Straight-lining of rents (21,335) 5,073
Stock-based compensation expense 13,155 21,225
Net gains on disposition of wholly owned and partially owned assets (6,552) 0
Net unrealized (income) loss on real estate fund investments (5,672) 494
Amortization of below-market leases, net (917) (3,166)
Write-off of lease receivables deemed uncollectible 0 3,670
Other non-cash adjustments 5,208 1,348
Changes in operating assets and liabilities:    
Real estate fund investments 0 (494)
Tenant and other receivables (3,499) (1,077)
Prepaid assets 29,451 48,599
Other assets (9,807) (20,693)
Accounts payable and accrued expenses (7,421) 9,842
Other liabilities (1,307) 253
Net cash provided by operating activities 171,014 224,185
Cash Flows from Investing Activities:    
Purchase of U.S. Treasury bills (645,920) 0
Development costs and construction in progress (209,738) (130,318)
Proceeds from sales of real estate 81,399 0
Additions to real estate (30,900) (27,410)
Proceeds from sale of a condominium unit at 220 Central Park South 15,095 0
Investments in partially owned entities (4,571) (4,816)
Distributions of capital from partially owned entities 0 106,005
Net cash used in investing activities (794,635) (56,539)
Cash Flows from Financing Activities:    
Dividends paid on common shares / Distributions to Vornado (101,616) (101,467)
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (43,545) (13,338)
Dividends paid on preferred shares / Distributions to preferred unitholders (15,529) (16,467)
Repayments of borrowings (5,400) (358,331)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 481 0
Proceeds received from exercise of employee share options (Vornado stock options) and other 219 215
Repurchase of shares / Class A units related to stock compensation agreements and related tax withholdings and other (85) (113)
Proceeds from borrowings 0 350,000
Debt issuance costs 0 (2,904)
Net cash used in financing activities (165,475) (142,405)
Net (decrease) increase in cash and cash equivalents and restricted cash (789,096) 25,241
Cash and cash equivalents and restricted cash at beginning of period 1,930,351 1,730,369
Cash and cash equivalents and restricted cash at end of period 1,141,255 1,755,610
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 1,760,225 1,624,482
Restricted cash at beginning of period 170,126 105,887
Cash and cash equivalents and restricted cash at beginning of period 1,930,351 1,730,369
Cash and cash equivalents at end of period 973,858 1,636,093
Restricted cash at end of period 167,397 119,517
Cash and cash equivalents and restricted cash at end of period 1,141,255 1,755,610
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $3,520 and $10,267 46,868 50,394
Cash payments for income taxes 2,159 4,002
Non-Cash Investing and Financing Activities:    
Additional estimated lease liability arising from the recognition of right-of-use asset 350,000 0
Accrued capital expenditures included in accounts payable and accrued expenses 86,667 68,986
Increase in accumulated other comprehensive income due to change in fair value of consolidated interest rate swaps and other 65,239 11,641
Redeemable Class A unit measurement adjustment (46,651) (126,936)
Write-off of fully depreciated assets (23,735) (30,782)
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale" 3,024 2,739
Vornado Realty L.P.    
Cash Flows from Operating Activities:    
Net income 53,375 26,993
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including amortization of deferred financing costs) 122,271 100,034
Distributions of income from partially owned entities 37,778 61,157
Equity in net income of partially owned entities (33,714) (29,073)
Straight-lining of rents (21,335) 5,073
Stock-based compensation expense 13,155 21,225
Net gains on disposition of wholly owned and partially owned assets (6,552) 0
Net unrealized (income) loss on real estate fund investments (5,672) 494
Amortization of below-market leases, net (917) (3,166)
Write-off of lease receivables deemed uncollectible 0 3,670
Other non-cash adjustments 5,208 1,348
Changes in operating assets and liabilities:    
Real estate fund investments 0 (494)
Tenant and other receivables (3,499) (1,077)
Prepaid assets 29,451 48,599
Other assets (9,807) (20,693)
Accounts payable and accrued expenses (7,421) 9,842
Other liabilities (1,307) 253
Net cash provided by operating activities 171,014 224,185
Cash Flows from Investing Activities:    
Purchase of U.S. Treasury bills (645,920) 0
Development costs and construction in progress (209,738) (130,318)
Proceeds from sales of real estate 81,399 0
Additions to real estate (30,900) (27,410)
Proceeds from sale of a condominium unit at 220 Central Park South 15,095 0
Investments in partially owned entities (4,571) (4,816)
Distributions of capital from partially owned entities 0 106,005
Net cash used in investing activities (794,635) (56,539)
Cash Flows from Financing Activities:    
Dividends paid on common shares / Distributions to Vornado (101,616) (101,467)
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (43,545) (13,338)
Dividends paid on preferred shares / Distributions to preferred unitholders (15,529) (16,467)
Repayments of borrowings (5,400) (358,331)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 481 0
Proceeds received from exercise of employee share options (Vornado stock options) and other 219 215
Repurchase of shares / Class A units related to stock compensation agreements and related tax withholdings and other (85) (113)
Proceeds from borrowings 0 350,000
Debt issuance costs 0 (2,904)
Net cash used in financing activities (165,475) (142,405)
Net (decrease) increase in cash and cash equivalents and restricted cash (789,096) 25,241
Cash and cash equivalents and restricted cash at beginning of period 1,930,351 1,730,369
Cash and cash equivalents and restricted cash at end of period 1,141,255 1,755,610
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 1,760,225 1,624,482
Restricted cash at beginning of period 170,126 105,887
Cash and cash equivalents and restricted cash at beginning of period 1,930,351 1,730,369
Cash and cash equivalents at end of period 973,858 1,636,093
Restricted cash at end of period 167,397 119,517
Cash and cash equivalents and restricted cash at end of period 1,141,255 1,755,610
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $3,520 and $10,267 46,868 50,394
Cash payments for income taxes 2,159 4,002
Non-Cash Investing and Financing Activities:    
Additional estimated lease liability arising from the recognition of right-of-use asset 350,000 0
Accrued capital expenditures included in accounts payable and accrued expenses 86,667 68,986
Increase in accumulated other comprehensive income due to change in fair value of consolidated interest rate swaps and other 65,239 11,641
Redeemable Class A unit measurement adjustment (46,651) (126,936)
Write-off of fully depreciated assets (23,735) (30,782)
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale" $ 3,024 $ 2,739