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Income Per Share/Income Per Class A Unit
 9 Months Ended
Sep. 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 September 30,For the Nine Months Ended September 30,
2023202220232022
Numerator:
Net income attributable to Vornado$68,375 $23,298 $150,978 $131,252 
Preferred share dividends(15,529)(15,529)(46,587)(46,587)
Net income attributable to common shareholders52,846 7,769 104,391 84,665 
Earnings allocated to unvested participating securities(1)(4)(2)(14)
Numerator for basic income per share52,845 7,765 104,389 84,651 
Impact of assumed conversion of dilutive convertible securities350 — 1,050 (243)
Numerator for diluted income per share$53,195 $7,765 $105,439 $84,408 
Denominator:
Denominator for basic income per share - weighted average shares190,364 191,793 191,228 191,756 
Effect of dilutive securities(1):
Share-based payment awards445 225 163 266 
Convertible securities2,112 — 2,454 20 
Denominator for diluted income per share - weighted average shares and assumed conversions192,921 192,018 193,845 192,042 
INCOME PER COMMON SHARE - BASIC:
Net income per common share$0.28 $0.04 $0.55 $0.44 
INCOME PER COMMON SHARE - DILUTED:
Net income per common share$0.28 $0.04 $0.54 $0.44 
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(1)The effect of dilutive securities excluded an aggregate of 15,701 and 15,983 weighted average common share equivalents for the three months ended September 30, 2023 and 2022, respectively, and 15,169 and 15,836 weighted average common share equivalents for the nine months ended September 30, 2023 and 2022, 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 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 September 30,For the Nine Months Ended September 30,
2023202220232022
Numerator:
Net income attributable to Vornado Realty L.P.$73,111 $23,904 $159,751 $137,634 
Preferred unit distributions(15,558)(15,558)(46,673)(46,673)
Net income attributable to Class A unitholders57,553 8,346 113,078 90,961 
Earnings allocated to unvested participating securities(747)(498)(594)(1,719)
Numerator for basic income per Class A unit56,806 7,848 112,484 89,242 
Impact of assumed conversion of dilutive convertible securities350 — 500 (243)
Numerator for diluted income per Class A unit$57,156 $7,848 $112,984 $88,999 
Denominator:
Denominator for basic income per Class A unit – weighted average units204,628 205,410 205,268 205,271 
Effect of dilutive securities(1):
Share-based payment awards445 502 163 633 
Convertible securities2,112 — 2,454 20 
Denominator for diluted income per Class A unit – weighted average units and assumed conversions207,185 205,912 207,885 205,924 
INCOME PER CLASS A UNIT - BASIC:
Net income per Class A unit$0.28 $0.04 $0.55 $0.43 
INCOME PER CLASS A UNIT - DILUTED:
Net income per Class A unit$0.28 $0.04 $0.54 $0.43 
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(1)The effect of dilutive securities excluded an aggregate of 3,034 and 2,089 weighted average Class A unit equivalents for the three months ended September 30, 2023 and 2022, respectively, and 1,819 and 1,954 weighted average Class A unit equivalents for the nine months ended September 30, 2023 and 2022, respectively, as their effect was anti-dilutive.