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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net income $ 142,390 $ 175,590
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including amortization of deferred financing costs) 386,697 299,749
Distributions of income from partially owned entities 137,758 171,367
Equity in net income of partially owned entities (83,775) (86,768)
Straight-lining of rents (45,835) 11,651
Net gains on disposition of wholly owned and partially owned assets (35,384) (35,811)
Stock-based compensation expense 22,887 32,889
Change in deferred tax liability 9,992 2,497
Amortization of below-market leases, net (3,788) (7,939)
Net realized and unrealized loss on real estate fund investments 1,128 789
Write-off of lease receivables deemed uncollectible 782 7,219
Real estate impairment losses 0 7,880
Other non-cash adjustments 2,560 (5,046)
Changes in operating assets and liabilities:    
Real estate fund investments 0 (789)
Tenant and other receivables (2,128) (12,092)
Prepaid assets 33,995 (44,731)
Other assets (22,706) (77,508)
Accounts payable and accrued expenses 6,649 43,067
Other liabilities 8,605 (3,911)
Net cash provided by operating activities 559,827 478,103
Cash Flows from Investing Activities:    
Purchase of U.S. Treasury bills (794,793) 0
Development costs and construction in progress (557,884) (444,645)
Proceeds from maturities of U.S. Treasury bills 349,461 0
Proceeds from sales of real estate 253,958 100,024
Additions to real estate (120,124) (113,374)
Distributions of capital from partially owned entities 20,566 106,005
Proceeds from sale of condominium units and ancillary amenities at 220 Central Park South 16,124 97,683
Investments in partially owned entities (15,046) (12,366)
Acquisitions of real estate and other (2,000) (3,000)
Acquisition of additional 45.0% ownership interest in One Park Avenue (inclusive of $5,806 of prorations and net working capital and net of $39,370 of cash and restricted cash balances consolidated upon acquisition) 0 (123,936)
Proceeds from repayments of loan receivables 0 975
Net cash used in investing activities (849,738) (392,634)
Cash Flows from Financing Activities:    
Repayments of borrowings (1,245,973) (1,578,843)
Proceeds from borrowings 1,029,773 2,298,007
Dividends paid on common shares / Distributions to Vornado (304,896) (304,516)
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (68,716) (173,356)
Dividends paid on preferred shares / Distributions to preferred unitholders (46,587) (49,400)
Debt issuance costs (32,473) (33,935)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 4,903 2,657
Proceeds received from exercise of employee share options (Vornado stock options) and other 662 664
Repurchase of shares / Class A units related to stock compensation agreements and related tax withholdings and other (85) (114)
Proceeds from issuance of preferred shares / units 0 291,195
Net cash (used in) provided by financing activities (663,392) 452,359
Net (decrease) increase in cash and cash equivalents and restricted cash (953,303) 537,828
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 977,048 2,268,197
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 845,423 2,128,964
Restricted cash at end of period 131,625 139,233
Cash and cash equivalents and restricted cash at end of period 977,048 2,268,197
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $12,095 and $31,785 170,839 137,937
Cash payments for income taxes 6,919 8,426
Non-Cash Investing and Financing Activities:    
Additional estimated lease liability arising from the recognition of right-of-use asset 350,000 0
Redeemable Class A unit measurement adjustment 215,619 (78,848)
Increase in accumulated other comprehensive income due to change in fair value of consolidated interest rate swaps and other 200,838 25,555
Accrued capital expenditures included in accounts payable and accrued expenses 86,844 120,635
Reclassification of assets held for sale (included in "other assets") 64,177 79,421
Write-off of fully depreciated assets (52,475) (78,353)
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale" 30,542 11,767
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:    
Reclassification of Series K cumulative redeemable preferred shares to liabilities upon call for redemption 0 300,000
One Park Avenue    
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:    
Real estate 0 566,013
Identified intangible assets 0 139,545
Mortgages payable 0 525,000
Deferred revenue 0 18,884
Vornado Realty L.P.    
Cash Flows from Operating Activities:    
Net income 142,390 175,590
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including amortization of deferred financing costs) 386,697 299,749
Distributions of income from partially owned entities 137,758 171,367
Equity in net income of partially owned entities (83,775) (86,768)
Straight-lining of rents (45,835) 11,651
Net gains on disposition of wholly owned and partially owned assets (35,384) (35,811)
Stock-based compensation expense 22,887 32,889
Change in deferred tax liability 9,992 2,497
Amortization of below-market leases, net (3,788) (7,939)
Net realized and unrealized loss on real estate fund investments 1,128 789
Write-off of lease receivables deemed uncollectible 782 7,219
Real estate impairment losses 0 7,880
Other non-cash adjustments 2,560 (5,046)
Changes in operating assets and liabilities:    
Real estate fund investments 0 (789)
Tenant and other receivables (2,128) (12,092)
Prepaid assets 33,995 (44,731)
Other assets (22,706) (77,508)
Accounts payable and accrued expenses 6,649 43,067
Other liabilities 8,605 (3,911)
Net cash provided by operating activities 559,827 478,103
Cash Flows from Investing Activities:    
Purchase of U.S. Treasury bills (794,793) 0
Development costs and construction in progress (557,884) (444,645)
Proceeds from maturities of U.S. Treasury bills 349,461 0
Proceeds from sales of real estate 253,958 100,024
Additions to real estate (120,124) (113,374)
Distributions of capital from partially owned entities 20,566 106,005
Proceeds from sale of condominium units and ancillary amenities at 220 Central Park South 16,124 97,683
Investments in partially owned entities (15,046) (12,366)
Acquisitions of real estate and other (2,000) (3,000)
Acquisition of additional 45.0% ownership interest in One Park Avenue (inclusive of $5,806 of prorations and net working capital and net of $39,370 of cash and restricted cash balances consolidated upon acquisition) 0 (123,936)
Proceeds from repayments of loan receivables 0 975
Net cash used in investing activities (849,738) (392,634)
Cash Flows from Financing Activities:    
Repayments of borrowings (1,245,973) (1,578,843)
Proceeds from borrowings 1,029,773 2,298,007
Dividends paid on common shares / Distributions to Vornado (304,896) (304,516)
Distribution to noncontrolling interests / redeemable security holders and noncontrolling interests in consolidated subsidiaries (68,716) (173,356)
Dividends paid on preferred shares / Distributions to preferred unitholders (46,587) (49,400)
Debt issuance costs (32,473) (33,935)
Contributions from noncontrolling interests / noncontrolling interests in consolidated subsidiaries 4,903 2,657
Proceeds received from exercise of employee share options (Vornado stock options) and other 662 664
Repurchase of shares / Class A units related to stock compensation agreements and related tax withholdings and other (85) (114)
Proceeds from issuance of preferred shares / units 0 291,195
Net cash (used in) provided by financing activities (663,392) 452,359
Net (decrease) increase in cash and cash equivalents and restricted cash (953,303) 537,828
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 977,048 2,268,197
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 845,423 2,128,964
Restricted cash at end of period 131,625 139,233
Cash and cash equivalents and restricted cash at end of period 977,048 2,268,197
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest, excluding capitalized interest of $12,095 and $31,785 170,839 137,937
Cash payments for income taxes 6,919 8,426
Non-Cash Investing and Financing Activities:    
Additional estimated lease liability arising from the recognition of right-of-use asset 350,000 0
Redeemable Class A unit measurement adjustment 215,619 (78,848)
Increase in accumulated other comprehensive income due to change in fair value of consolidated interest rate swaps and other 200,838 25,555
Accrued capital expenditures included in accounts payable and accrued expenses 86,844 120,635
Reclassification of assets held for sale (included in "other assets") 64,177 79,421
Write-off of fully depreciated assets (52,475) (78,353)
Reclassification of condominium units from "development costs and construction in progress" to "220 Central Park South condominium units ready for sale" 30,542 11,767
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:    
Reclassification of Series K cumulative redeemable preferred shares to liabilities upon call for redemption 0 300,000
Vornado Realty L.P. | One Park Avenue    
Increase in assets and liabilities resulting from the consolidation of One Park Avenue:    
Real estate 0 566,013
Identified intangible assets 0 139,545
Mortgages payable 0 525,000
Deferred revenue $ 0 $ 18,884