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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES:        
Revenues $ 457,431 $ 409,212 $ 1,353,055 $ 1,168,130
EXPENSES:        
Operating (221,596) (212,699) (660,434) (594,598)
Depreciation and amortization (134,526) (100,867) (370,631) (285,998)
General and administrative (29,174) (25,553) (102,292) (100,341)
Benefit (expense) from deferred compensation plan liability 600 (799) 10,138 (7,422)
Transaction related costs and other (996) (9,681) (4,961) (10,630)
Total expenses (385,692) (349,599) (1,128,180) (998,989)
Income from partially owned entities 24,341 26,269 83,775 86,768
(Loss) income from real estate fund investments (111) (66) 5,421 5,107
Interest and other investment income, net 5,228 633 9,282 3,694
(Loss) income from deferred compensation plan assets (600) 799 (10,138) 7,422
Interest and debt expense (76,774) (50,946) (191,523) (152,904)
Net gains on disposition of wholly owned and partially owned assets 0 10,087 35,384 35,811
Income before income taxes 23,823 46,389 157,076 155,039
Income tax (expense) benefit (3,711) 25,376 (14,686) 20,551
Net income 20,112 71,765 142,390 175,590
Less loss (income) attributable to noncontrolling interests in consolidated subsidiaries 3,792 (5,425) (4,756) (20,323)
Net income attributable to Vornado / Vornado Realty L.P. 23,298 63,522 131,252 148,584
Preferred share dividends / unit distributions (15,529) (16,800) (46,587) (49,734)
Series K preferred share / unit issuance costs 0 (9,033) 0 (9,033)
NET INCOME attributable to common shareholders / Class A unitholders 7,769 37,689 84,665 89,817
Vornado Realty L.P.        
REVENUES:        
Revenues 457,431 409,212 1,353,055 1,168,130
EXPENSES:        
Operating (221,596) (212,699) (660,434) (594,598)
Depreciation and amortization (134,526) (100,867) (370,631) (285,998)
General and administrative (29,174) (25,553) (102,292) (100,341)
Benefit (expense) from deferred compensation plan liability 600 (799) 10,138 (7,422)
Transaction related costs and other (996) (9,681) (4,961) (10,630)
Total expenses (385,692) (349,599) (1,128,180) (998,989)
Income from partially owned entities 24,341 26,269 83,775 86,768
(Loss) income from real estate fund investments (111) (66) 5,421 5,107
Interest and other investment income, net 5,228 633 9,282 3,694
(Loss) income from deferred compensation plan assets (600) 799 (10,138) 7,422
Interest and debt expense (76,774) (50,946) (191,523) (152,904)
Net gains on disposition of wholly owned and partially owned assets 0 10,087 35,384 35,811
Income before income taxes 23,823 46,389 157,076 155,039
Income tax (expense) benefit (3,711) 25,376 (14,686) 20,551
Net income 20,112 71,765 142,390 175,590
Less loss (income) attributable to noncontrolling interests in consolidated subsidiaries 3,792 (5,425) (4,756) (20,323)
Net income attributable to Vornado / Vornado Realty L.P. 23,904 66,340 137,634 155,267
Preferred share dividends / unit distributions (15,558) (16,842) (46,673) (49,858)
Series K preferred share / unit issuance costs 0 (9,033) 0 (9,033)
NET INCOME attributable to common shareholders / Class A unitholders $ 8,346 $ 40,465 $ 90,961 $ 96,376
Income from continuing operations, net        
Net income per Class A unit (in dollars per unit) $ 0.04 $ 0.19 $ 0.43 $ 0.46
Weighted average units outstanding, basic (in shares) 205,410 204,864 205,271 204,663
Income from continuing operations, net        
Net income per Class A unit (in dollars per unit) $ 0.04 $ 0.19 $ 0.43 $ 0.46
Weighted average units outstanding, diluted (in shares) 205,912 205,703 205,924 205,616
Rental revenues        
REVENUES:        
Revenues $ 409,144 $ 369,203 $ 1,211,621 $ 1,048,116
Rental revenues | Vornado Realty L.P.        
REVENUES:        
Revenues 409,144 369,203 1,211,621 1,048,116
Fee and other income        
REVENUES:        
Revenues 48,287 40,009 141,434 120,014
Fee and other income | Vornado Realty L.P.        
REVENUES:        
Revenues $ 48,287 $ 40,009 $ 141,434 $ 120,014