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Income Per Share/Income Per Class A Unit
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Income Per Share/Income Per Class A Unit Income Per Share/Income Per Class A Unit
Vornado Realty Trust
Basic net income per common share is computed by dividing (i) net 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 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 income per share using the if-converted method, if the effect is dilutive. Net 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 income per common share.
(Amounts in thousands, except per share amounts)For the Three Months Ended June 30,For the Six Months Ended June 30,
2024202320242023
Numerator:
Net income attributable to Vornado$50,789 $61,906 $57,284 $82,603 
Preferred share dividends(15,529)(15,529)(31,058)(31,058)
Net income attributable to common shareholders35,260 46,377 26,226 51,545 
Distributions and earnings allocated to unvested participating securities— (1)— (1)
Numerator for basic income per common share$35,260 $46,376 $26,226 $51,544 
Impact of assumed conversion of dilutive convertible securities— 377 — 700 
Numerator for diluted income per common share$35,260 $46,753 $26,226 $52,244 
Denominator:
Denominator for basic income per common share - weighted average shares190,492 191,468 190,460 191,668 
Effect of dilutive securities(1):
Share-based payment awards3,913 32 4,058 23 
Convertible securities— 3,304 — 2,673 
Denominator for diluted income per common share - weighted average shares and assumed conversions194,405 194,804 194,518 194,364 
INCOME PER COMMON SHARE:
Basic$0.19 $0.24 $0.14 $0.27 
Diluted$0.18 $0.24 $0.13 $0.27 
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(1)The calculation of diluted income per share for the three and six months ended June 30, 2024 excluded 1,955 and 1,915 potential common share equivalents of our convertible securities, respectively, as their inclusion would be antidilutive.
12.    Income Per Share/Income Per Class A Unit - continued
Vornado Realty L.P.
Basic net income per Class A unit is computed by dividing (i) net 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 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 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 June 30,For the Six Months Ended June 30,
2024202320242023
Numerator:
Net income attributable to Vornado Realty L.P.$53,989 $65,514 $59,698 $86,640 
Preferred unit distributions(15,557)(15,557)(31,115)(31,115)
Net income attributable to Class A unitholders38,432 49,957 28,583 55,525 
Distributions and earnings allocated to participating securities(494)(204)(372)(228)
Numerator for basic income per Class A unit$37,938 $49,753 $28,211 $55,297 
Impact of assumed conversion of dilutive potential Class A units— 377 — 700 
Numerator for diluted income per Class A unit$37,938 $50,130 $28,211 $55,997 
Denominator:
Denominator for basic income per Class A unit – weighted average units204,960 205,411 204,917 205,606 
Effect of dilutive securities(1):
Unit-based payment awards3,913 32 4,058 23 
Convertible securities— 3,304 — 2,673 
Denominator for diluted income per Class A unit – weighted average units and assumed conversions208,873 208,747 208,975 208,302 
INCOME PER CLASS A UNIT:
Basic$0.19 $0.24 $0.14 $0.27 
Diluted$0.18 $0.24 $0.13 $0.27 
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(1)The calculation of diluted income per Class A unit for the three and six months ended June 30, 2024 excluded 1,955 and 1,915 potential Class A unit equivalents of our convertible securities, respectively, as their inclusion would be antidilutive