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Income Per Share/Income Per Class A Unit
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Income Per Share/Income Per Class A Unit Income Per Share/Income Per Class A Unit
Vornado Realty Trust
The following table presents the calculations of (i) basic income per common share which includes the weighted average number of common shares outstanding without regard to dilutive potential common shares and (ii) diluted income per common share which includes weighted average common shares outstanding and dilutive share equivalents. Unvested share-based payment awards that contain nonforfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. Earnings are allocated to participating securities, which include restricted stock awards, based on the two-class method. Our share-based payment awards, including employee stock options, restricted Operating Partnership units ("OP Units"), out-performance plan awards ("OPPs"), appreciation-only long term incentive plan units ("AO LTIP Units"), Performance Conditioned AO LTIP Units and Long-Term Performance Plan units ("LTPP Units"), are included in the calculation of diluted income per share using the treasury stock method if dilutive. Our convertible securities, including our Series A convertible preferred shares, Series G-1 through G-4 convertible preferred units and Series D-13 redeemable preferred units, are reflected in diluted income per share by application of the if-converted method if dilutive.
(Amounts in thousands, except per share amounts)For the Three Months Ended June 30,For the Six Months Ended June 30,
2022202120222021
Numerator:
Net income attributable to Vornado$65,947 $64,512 $107,954 $85,062 
Preferred share dividends(15,529)(16,467)(31,058)(32,934)
Net income attributable to common shareholders50,418 48,045 76,896 52,128 
Earnings allocated to unvested participating securities(5)(9)(10)(18)
Numerator for basic income per share50,413 48,036 76,886 52,110 
Impact of assumed conversion of dilutive convertible securities(380)— (257)— 
Numerator for diluted income per share$50,033 $48,036 $76,629 $52,110 
Denominator:
Denominator for basic income per share – weighted average shares 191,750 191,527 191,737 191,473 
Effect of dilutive securities(1):
Share-based payment awards261 853 289 734 
Convertible securities28 — 21 — 
Denominator for diluted income per share – weighted average shares and assumed conversions192,039 192,380 192,047 192,207 
INCOME PER COMMON SHARE - BASIC:
Net income per common share$0.26 $0.25 $0.40 $0.27 
INCOME PER COMMON SHARE - DILUTED:
Net income per common share$0.26 $0.25 $0.40 $0.27 
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(1)The effect of dilutive securities excluded an aggregate of 15,572 and 13,653 weighted average common share equivalents for the three months ended June 30, 2022 and 2021, respectively, and 15,697 and 13,783 weighted average common share equivalents for the six months ended June 30, 2022 and 2021, respectively, as their effect was anti-dilutive.
18.    Income Per Share/Income Per Class A Unit - continued
Vornado Realty L.P.
The following table presents the calculations of (i) basic income per Class A unit which includes the weighted average number of Class A units outstanding without regard to dilutive potential Class A units and (ii) diluted income per Class A unit which includes the weighted average Class A units outstanding and dilutive Class A unit equivalents. Unvested share-based payment awards that contain non-forfeitable rights to dividends, whether paid or unpaid, are accounted for as participating securities. Earnings are allocated to participating securities, which include Vornado restricted stock awards and our OP Units, based on the two-class method. Our other share-based payment awards, including Vornado stock options, OPPs, AO LTIP Units, Performance Conditioned AO LTIP Units and LTPP Units, are included in the calculation of diluted income per Class A unit using the treasury stock method if dilutive. Our convertible securities, including our Series A convertible preferred units, Series G-1 through G-4 convertible preferred units and Series D-13 redeemable preferred units, are reflected in diluted income per Class A unit by application of the if-converted method if dilutive.
(Amounts in thousands, except per unit amounts)For the Three Months Ended June 30,For the Six Months Ended June 30,
2022202120222021
Numerator:
Net income attributable to Vornado Realty L.P.$69,729 $68,048 $113,730 $88,927 
Preferred unit distributions(15,557)(16,508)(31,115)(33,016)
Net income attributable to Class A unitholders54,172 51,540 82,615 55,911 
Earnings allocated to unvested participating securities(582)(664)(1,221)(1,385)
Numerator for basic income per Class A unit53,590 50,876 81,394 54,526 
Impact of assumed conversion of dilutive convertible securities(380)— (257)— 
Numerator for diluted income per Class A unit$53,210 $50,876 $81,137 $54,526 
Denominator:
Denominator for basic income per Class A unit – weighted average units205,259 204,621 205,200 204,560 
Effect of dilutive securities(1):
Share-based payment awards643 1,193 701 1,012 
Convertible securities28 — 21 — 
Denominator for diluted income per Class A unit – weighted average units and assumed conversions205,930 205,814 205,922 205,572 
INCOME PER CLASS A UNIT - BASIC:
Net income per Class A unit$0.26 $0.25 $0.40 $0.27 
INCOME PER CLASS A UNIT - DILUTED:
Net income per Class A unit$0.26 $0.25 $0.39 $0.27 
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(1)The effect of dilutive securities excluded an aggregate of 1,681 and 219 weighted average Class A unit equivalents for the three months ended June 30, 2022 and 2021, respectively, and 1,822 and 418 weighted average Class A unit equivalents for the six months ended June 30, 2022 and 2021, respectively, as their effect was anti-dilutive.