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(Loss) Income Per Share/(Loss) Income Per Class A Unit (Tables)
 3 Months Ended
Mar. 31, 2024
Earnings per share  
Schedule Of Earnings Per Share Basic And Diluted
Vornado Realty Trust
Basic net (loss) income per common share is computed by dividing (i) net (loss) income attributable to common stockholders after allocation of dividends and undistributed earnings to participating securities by (ii) the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the dilutive impact of potential common shares and is computed after allocation of earnings to participating securities. Vornado’s participating securities include unvested restricted common shares. Employee stock options, OPP Units, AO LTIP Units, Performance AO LTIP Units and LTPP Units are included in the calculation of diluted (loss) income per share using the treasury stock method, if the effect is dilutive. Series A convertible preferred shares, Series G-1 through G-4 convertible preferred units, and Series D-13 redeemable preferred units, are included in the calculation of diluted (loss) income per share using the if-converted method, if the effect is dilutive. Net (loss) income is allocated to redeemable Class A units of the Operating Partnership on a one-for-one basis with Vornado common shares. As such, redemption of these units for Vornado common shares would not have a dilutive effect on (loss) income per common share.
(Amounts in thousands, except per share amounts)For the Three Months Ended March 31,
20242023
Numerator:
Net income attributable to Vornado$6,495 $20,697 
Preferred share dividends(15,529)(15,529)
Net (loss) income attributable to common shareholders(9,034)5,168 
Distributions and earnings allocated to unvested participating securities— (1)
Numerator for basic and diluted (loss) income per common share$(9,034)$5,167 
Denominator:
Denominator for basic (loss) income per common share - weighted average shares190,429 191,869 
Effect of dilutive securities(1):
Share-based awards— 12 
Denominator for diluted (loss) income per common share - weighted average shares and assumed conversions190,429 191,881 
(LOSS) INCOME PER COMMON SHARE:
Basic$(0.05)$0.03 
Diluted$(0.05)$0.03 
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(1)The calculation of diluted loss per share for the three months ended March 31, 2024 excluded the following potential common shares as their inclusion would be antidilutive: (i) 13,777 Performance AO LTIP Units with an exercise price of $16.87, (ii) 1,749 common share equivalents of our convertible securities, and (iii) 556 LTPP Units deemed earned if the end of the reporting period were the end of the performance period.
Vornado Realty L.P.  
Earnings per share  
Schedule Of Earnings Per Share Basic And Diluted
Vornado Realty L.P.
Basic net (loss) income per Class A unit is computed by dividing (i) net (loss) income attributable to Class A unitholders after allocation of distributions and undistributed earnings to participating securities by (ii) the weighted average number of Class A units outstanding for the period. Diluted earnings per unit reflects the dilutive impact of potential Class A units and is computed after allocation of earnings to participating securities. VRLP’s participating securities include unvested LTIP Units and LTPP Units for which the applicable performance vesting conditions were satisfied. Equity awards subject to market and/or performance vesting conditions, including Vornado stock options, OPP Units, AO LTIP Units, Performance AO LTIP Units and LTPP Units, are included in the calculation of diluted (loss) income per Class A unit using the treasury stock method, if the effect is dilutive. Convertible securities, including Series A convertible preferred units, Series G-1 through G-4 convertible preferred units, and Series D-13 redeemable preferred units, are included in the calculation of diluted (loss) income per Class A unit using the if-converted method, if the effect is dilutive.
(Amounts in thousands, except per unit amounts)For the Three Months Ended March 31,
20242023
Numerator:
Net income attributable to Vornado Realty L.P.$5,709 $21,126 
Preferred unit distributions(15,558)(15,558)
Net (loss) income attributable to Class A unitholders(9,849)5,568 
Distributions and earnings allocated to participating securities— (340)
Numerator for basic and diluted (loss) income per Class A unit$(9,849)$5,228 
Denominator:
Denominator for basic (loss) income per Class A unit – weighted average units204,873 205,802 
Effect of dilutive securities(1):
Unit-based payment awards— 12 
Denominator for diluted (loss) income per Class A unit – weighted average units and assumed conversions204,873 205,814 
(LOSS) INCOME PER CLASS A UNIT:
Basic$(0.05)$0.03 
Diluted$(0.05)$0.03 
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(1)The calculation of diluted loss per Class A unit for the three months ended March 31, 2024 excluded the following potential Class A units as their inclusion would be antidilutive: (i) 13,777 Performance AO LTIP Units with an exercise price of $16.87, (ii) 1,749 Class A unit equivalents of our convertible securities, and (iii) 556 LTPP Units deemed earned if the end of the reporting period were the end of the performance period.