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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES:        
Revenues $ 453,494 $ 378,941 $ 895,624 $ 758,918
EXPENSES:        
Operating (222,309) (190,920) (438,838) (381,899)
Depreciation and amortization (118,662) (89,777) (236,105) (185,131)
General and administrative (31,902) (30,602) (73,118) (74,788)
Benefit (expense) from deferred compensation plan liability 7,594 (3,378) 9,538 (6,623)
Transaction related costs and other (2,960) (106) (3,965) (949)
Total expenses (368,239) (314,783) (742,488) (649,390)
Income from partially owned entities 25,720 31,426 59,434 60,499
(Loss) income from real estate fund investments (142) 5,342 5,532 5,173
Interest and other investment income, net 3,036 1,539 4,054 3,061
(Loss) income from deferred compensation plan assets (7,594) 3,378 (9,538) 6,623
Interest and debt expense (62,640) (51,894) (114,749) (101,958)
Net gains on disposition of wholly owned and partially owned assets 28,832 25,724 35,384 25,724
Income before income taxes 72,467 79,673 133,253 108,650
Income tax expense (3,564) (2,841) (10,975) (4,825)
Net income 68,903 76,832 122,278 103,825
Less loss (income) attributable to noncontrolling interests in consolidated subsidiaries 826 (8,784) (8,548) (14,898)
Net income attributable to Vornado / Vornado Realty L.P. 65,947 64,512 107,954 85,062
Preferred share dividends / unit distributions (15,529) (16,467) (31,058) (32,934)
NET INCOME attributable to common shareholders / Class A unitholders 50,418 48,045 76,896 52,128
Vornado Realty L.P.        
REVENUES:        
Revenues 453,494 378,941 895,624 758,918
EXPENSES:        
Operating (222,309) (190,920) (438,838) (381,899)
Depreciation and amortization (118,662) (89,777) (236,105) (185,131)
General and administrative (31,902) (30,602) (73,118) (74,788)
Benefit (expense) from deferred compensation plan liability 7,594 (3,378) 9,538 (6,623)
Transaction related costs and other (2,960) (106) (3,965) (949)
Total expenses (368,239) (314,783) (742,488) (649,390)
Income from partially owned entities 25,720 31,426 59,434 60,499
(Loss) income from real estate fund investments (142) 5,342 5,532 5,173
Interest and other investment income, net 3,036 1,539 4,054 3,061
(Loss) income from deferred compensation plan assets (7,594) 3,378 (9,538) 6,623
Interest and debt expense (62,640) (51,894) (114,749) (101,958)
Net gains on disposition of wholly owned and partially owned assets 28,832 25,724 35,384 25,724
Income before income taxes 72,467 79,673 133,253 108,650
Income tax expense (3,564) (2,841) (10,975) (4,825)
Net income 68,903 76,832 122,278 103,825
Less loss (income) attributable to noncontrolling interests in consolidated subsidiaries 826 (8,784) (8,548) (14,898)
Net income attributable to Vornado / Vornado Realty L.P. 69,729 68,048 113,730 88,927
Preferred share dividends / unit distributions (15,557) (16,508) (31,115) (33,016)
NET INCOME attributable to common shareholders / Class A unitholders $ 54,172 $ 51,540 $ 82,615 $ 55,911
Income from continuing operations, net        
Net income per Class A unit (in dollars per unit) $ 0.26 $ 0.25 $ 0.40 $ 0.27
Weighted average units outstanding, basic (in shares) 205,259 204,621 205,200 204,560
Income from continuing operations, net        
Net income per Class A unit (in dollars per unit) $ 0.26 $ 0.25 $ 0.39 $ 0.27
Weighted average units outstanding, diluted (in shares) 205,930 205,814 205,922 205,572
Rental revenues        
REVENUES:        
Revenues $ 405,194 $ 339,596 $ 802,477 $ 678,913
Rental revenues | Vornado Realty L.P.        
REVENUES:        
Revenues 405,194 339,596 802,477 678,913
Fee and other income        
REVENUES:        
Revenues 48,300 39,345 93,147 80,005
Fee and other income | Vornado Realty L.P.        
REVENUES:        
Revenues $ 48,300 $ 39,345 $ 93,147 $ 80,005