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Income Per Share/Income Per Class A Unit
 6 Months Ended
Jun. 30, 2023
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 common shares, based on the two-class method. Our share-based payment awards, including employee stock options, LTIP Units, OPP Units, AO LTIP Units, Performance AO LTIP Units, and 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,
2023202220232022
Numerator:
Net income attributable to Vornado$61,906 $65,947 $82,603 $107,954 
Preferred share dividends(15,529)(15,529)(31,058)(31,058)
Net income attributable to common shareholders46,377 50,418 51,545 76,896 
Earnings allocated to unvested participating securities(1)(5)(1)(10)
Numerator for basic income per share46,376 50,413 51,544 76,886 
Impact of assumed conversion of dilutive convertible securities377 (380)700 (257)
Numerator for diluted income per share$46,753 $50,033 $52,244 $76,629 
Denominator:
Denominator for basic income per share - weighted average shares191,468 191,750 191,668 191,737 
Effect of dilutive securities(1):
Share-based payment awards32 261 23 289 
Convertible securities3,304 28 2,673 21 
Denominator for diluted income per share - weighted average shares and assumed conversions194,804 192,039 194,364 192,047 
INCOME PER COMMON SHARE - BASIC:
Net income per common share$0.24 $0.26 $0.27 $0.40 
INCOME PER COMMON SHARE - DILUTED:
Net income per common share$0.24 $0.26 $0.27 $0.40 
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(1)The effect of dilutive securities excluded an aggregate of 14,883 and 15,572 weighted average common share equivalents for the three months ended June 30, 2023 and 2022, respectively, and 15,005 and 15,697 weighted average common share equivalents for the six months ended June 30, 2023 and 2022, respectively, as their effect was anti-dilutive.
17.    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 restricted Vornado common shares and our LTIP Units, based on the two-class method. Our other share-based payment awards, including Vornado stock options, OPP Units, AO LTIP Units, Performance 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,
2023202220232022
Numerator:
Net income attributable to Vornado Realty L.P.$65,514 $69,729 $86,640 $113,730 
Preferred unit distributions(15,557)(15,557)(31,115)(31,115)
Net income attributable to Class A unitholders49,957 54,172 55,525 82,615 
Earnings allocated to unvested participating securities(204)(582)(228)(1,221)
Numerator for basic income per Class A unit49,753 53,590 55,297 81,394 
Impact of assumed conversion of dilutive convertible securities377 (380)700 (257)
Numerator for diluted income per Class A unit$50,130 $53,210 $55,997 $81,137 
Denominator:
Denominator for basic income per Class A unit – weighted average units205,411 205,259 205,606 205,200 
Effect of dilutive securities(1):
Share-based payment awards32 643 23 701 
Convertible securities3,304 28 2,673 21 
Denominator for diluted income per Class A unit – weighted average units and assumed conversions208,747 205,930 208,302 205,922 
INCOME PER CLASS A UNIT - BASIC:
Net income per Class A unit$0.24 $0.26 $0.27 $0.40 
INCOME PER CLASS A UNIT - DILUTED:
Net income per Class A unit$0.24 $0.26 $0.27 $0.39 
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(1)The effect of dilutive securities excluded an aggregate of 940 and 1,681 weighted average Class A unit equivalents for the three months ended June 30, 2023 and 2022, respectively, and 720 and 1,822 weighted average Class A unit equivalents for the six months ended June 30, 2023 and 2022, respectively, as their effect was anti-dilutive.