XML 28 R11.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUES:    
Total revenues $ 436,375 $ 445,923
EXPENSES:    
Operating (226,224) (228,773)
Depreciation and amortization (108,659) (106,565)
General and administrative (37,897) (41,595)
Expense from deferred compensation plan liability (4,520) (3,728)
Transaction related costs and other (653) (658)
Total expenses (377,953) (381,319)
Income from partially owned entities 16,279 16,666
Interest and other investment income, net 11,724 9,584
Income from deferred compensation plan assets 4,520 3,728
Interest and debt expense (90,478) (86,237)
Net gains on disposition of wholly owned and partially owned assets 0 7,520
Income before income taxes 467 15,865
Income tax expense (6,740) (4,667)
Net (loss) income (6,273) 11,198
Less net loss attributable to noncontrolling interests in consolidated subsidiaries 11,982 9,928
Net income 6,495 20,697
Preferred dividends/distributions (15,529) (15,529)
NET (LOSS) INCOME (9,034) 5,168
Rental revenues    
REVENUES:    
Total revenues 389,278 396,793
Fee and other income    
REVENUES:    
Total revenues 47,097 49,130
Vornado Realty L.P.    
REVENUES:    
Total revenues 436,375 445,923
EXPENSES:    
Operating (226,224) (228,773)
Depreciation and amortization (108,659) (106,565)
General and administrative (37,897) (41,595)
Expense from deferred compensation plan liability (4,520) (3,728)
Transaction related costs and other (653) (658)
Total expenses (377,953) (381,319)
Income from partially owned entities 16,279 16,666
Interest and other investment income, net 11,724 9,584
Income from deferred compensation plan assets 4,520 3,728
Interest and debt expense (90,478) (86,237)
Net gains on disposition of wholly owned and partially owned assets 0 7,520
Income before income taxes 467 15,865
Income tax expense (6,740) (4,667)
Net (loss) income (6,273) 11,198
Less net loss attributable to noncontrolling interests in consolidated subsidiaries 11,982 9,928
Net income 5,709 21,126
Preferred dividends/distributions (15,558) (15,558)
NET (LOSS) INCOME $ (9,849) $ 5,568
(LOSS) INCOME PER CLASS A UNIT - BASIC:    
Net income (loss) per Class A unit (in dollars per unit) $ (0.05) $ 0.03
Weighted average units outstanding, basic (in shares) 204,873 205,802
(LOSS) INCOME PER CLASS A UNIT - DILUTED:    
Net income (loss) per Class A unit (in dollars per unit) $ (0.05) $ 0.03
Weighted average units outstanding, diluted (in shares) 204,873 205,814
Vornado Realty L.P. | Rental revenues    
REVENUES:    
Total revenues $ 389,278 $ 396,793
Vornado Realty L.P. | Fee and other income    
REVENUES:    
Total revenues $ 47,097 $ 49,130