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Income Per Share/Income Per Class A Unit (Tables)
 9 Months Ended
Sep. 30, 2022
Earnings per share  
Schedule Of Earnings Per Share Basic And Diluted
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 September 30,For the Nine Months Ended September 30,
2022202120222021
Numerator:
Net income attributable to Vornado$23,298 $63,522 $131,252 $148,584 
Preferred share dividends(15,529)(16,800)(46,587)(49,734)
Series K preferred share issuance costs— (9,033)— (9,033)
Net income attributable to common shareholders7,769 37,689 84,665 89,817 
Earnings allocated to unvested participating securities(4)(8)(14)(26)
Numerator for basic income per share7,765 37,681 84,651 89,791 
Impact of assumed conversion of dilutive convertible securities— — (243)— 
Numerator for diluted income per share$7,765 $37,681 $84,408 $89,791 
Denominator:
Denominator for basic income per share – weighted average shares 191,793 191,577 191,756 191,508 
Effect of dilutive securities(1):
Share-based payment awards225 464 266 643 
Convertible securities— — 20 — 
Denominator for diluted income per share – weighted average shares and assumed conversions192,018 192,041 192,042 192,151 
INCOME PER COMMON SHARE - BASIC:
Net income per common share$0.04 $0.20 $0.44 $0.47 
INCOME PER COMMON SHARE - DILUTED:
Net income per common share$0.04 $0.20 $0.44 $0.47 
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(1)The effect of dilutive securities excluded an aggregate of 15,983 and 13,876 weighted average common share equivalents for the three months ended September 30, 2022 and 2021, respectively, and 15,836 and 13,815 weighted average common share equivalents for the nine months ended September 30, 2022 and 2021, respectively, as their effect was anti-dilutive.
Vornado Realty L.P.  
Earnings per share  
Schedule Of Earnings Per Share Basic And Diluted
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 September 30,For the Nine Months Ended September 30,
2022202120222021
Numerator:
Net income attributable to Vornado Realty L.P.$23,904 $66,340 $137,634 $155,267 
Preferred unit distributions(15,558)(16,842)(46,673)(49,858)
Series K preferred unit issuance costs— (9,033)— (9,033)
Net income attributable to Class A unitholders8,346 40,465 90,961 96,376 
Earnings allocated to unvested participating securities(498)(649)(1,719)(2,034)
Numerator for basic income per Class A unit7,848 39,816 89,242 94,342 
Impact of assumed conversion of dilutive convertible securities— — (243)— 
Numerator for diluted income per Class A unit$7,848 $39,816 $88,999 $94,342 
Denominator:
Denominator for basic income per Class A unit – weighted average units205,410 204,864 205,271 204,663 
Effect of dilutive securities(1):
Share-based payment awards502 839 633 953 
Convertible securities— — 20 — 
Denominator for diluted income per Class A unit – weighted average units and assumed conversions205,912 205,703 205,924 205,616 
INCOME PER CLASS A UNIT - BASIC:
Net income per Class A unit$0.04 $0.19 $0.43 $0.46 
INCOME PER CLASS A UNIT - DILUTED:
Net income per Class A unit$0.04 $0.19 $0.43 $0.46 
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(1)The effect of dilutive securities excluded an aggregate of 2,089 and 214 weighted average Class A unit equivalents for the three months ended September 30, 2022 and 2021, respectively, and 1,954 and 350 weighted average Class A unit equivalents for the nine months ended September 30, 2022 and 2021, respectively, as their effect was anti-dilutive.