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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUES:    
Total revenues $ 461,579 $ 436,375
EXPENSES:    
Operating (224,740) (226,224)
Depreciation and amortization (116,155) (108,659)
General and administrative (38,597) (37,897)
Income (expense) from deferred compensation plan liability 1,089 (4,520)
Transaction related costs and other (43) (653)
Total expenses (378,446) (377,953)
Income from partially owned entities 96,977 16,279
Interest and other investment income, net 8,261 11,724
(Expense) income from deferred compensation plan assets (1,089) 4,520
Interest and debt expense (95,816) (90,478)
Stock-based compensation expense 15,551 0
Income before income taxes 107,017 467
Income tax expense (7,193) (6,740)
Net income (loss) 99,824 (6,273)
Less net loss attributable to noncontrolling interests in consolidated subsidiaries 10,433 11,982
Net income attributable to Vornado 102,368 6,495
Preferred unit distributions (15,526) (15,529)
Net Income (Loss) attributable to Class A unitholders 86,842 (9,034)
Rental revenues    
REVENUES:    
Total revenues 404,755 389,278
Fee and other income    
REVENUES:    
Total revenues 56,824 47,097
Vornado Realty L.P.    
REVENUES:    
Total revenues 461,579 436,375
EXPENSES:    
Operating (224,740) (226,224)
Depreciation and amortization (116,155) (108,659)
General and administrative (38,597) (37,897)
Income (expense) from deferred compensation plan liability 1,089 (4,520)
Transaction related costs and other (43) (653)
Total expenses (378,446) (377,953)
Income from partially owned entities 96,977 16,279
Interest and other investment income, net 8,261 11,724
(Expense) income from deferred compensation plan assets (1,089) 4,520
Interest and debt expense (95,816) (90,478)
Stock-based compensation expense 15,551 0
Income before income taxes 107,017 467
Income tax expense (7,193) (6,740)
Net income (loss) 99,824 (6,273)
Less net loss attributable to noncontrolling interests in consolidated subsidiaries 10,433 11,982
Net income attributable to Vornado 110,257 5,709
Preferred unit distributions (15,555) (15,558)
Net Income (Loss) attributable to Class A unitholders $ 94,702 $ (9,849)
INCOME (LOSS) PER CLASS A UNIT - BASIC:    
Net income (loss) per Class A unit (in dollars per unit) $ 0.45 $ (0.05)
Weighted average units outstanding, basic (in shares) 205,761 204,873
INCOME (LOSS) PER CLASS A UNIT - DILUTED:    
Net income (loss) per Class A unit (in dollars per unit) $ 0.44 $ (0.05)
Weighted average units outstanding, diluted (in shares) 215,125 204,873
Vornado Realty L.P. | Rental revenues    
REVENUES:    
Total revenues $ 404,755 $ 389,278
Vornado Realty L.P. | Fee and other income    
REVENUES:    
Total revenues $ 56,824 $ 47,097