XML 21 R4.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES:        
Total revenues $ 453,700 $ 443,255 $ 1,356,716 $ 1,329,896
EXPENSES:        
Operating (241,769) (236,149) (685,857) (691,753)
Depreciation and amortization (117,122) (116,006) (348,851) (334,439)
General and administrative (37,490) (35,511) (116,065) (111,883)
Expense from deferred compensation plan liability (6,756) (5,171) (8,790) (11,089)
Transaction related costs and other (3,563) 113 (4,327) (3,901)
Total expenses (406,700) (392,724) (1,163,890) (1,153,065)
Income from partially owned entities 21,940 18,229 135,588 82,457
Interest and other investment income, net 22,413 12,391 41,730 34,626
Income from deferred compensation plan assets 6,756 5,171 8,790 11,089
Interest and debt expense (84,459) (100,907) (268,204) (289,786)
Gain on sales-type lease 0 0 803,248 0
Net gains on disposition of wholly owned and partially owned assets 0 0 24,039 16,048
Income (loss) before income taxes 13,650 (14,585) 938,017 31,265
Income tax benefit (expense) 5,589 (4,883) (5,727) (16,907)
Net income (loss) 19,239 (19,468) 932,290 14,358
Less net loss (income) attributable to noncontrolling interests in:        
Consolidated subsidiaries 8,912 14,152 30,326 40,024
Operating Partnership (1,036) 1,690 (73,788) (724)
Net income (loss) attributable to Vornado 27,115 (3,626) 888,828 53,658
Preferred share dividends/unit distributions (15,526) (15,528) (46,578) (46,586)
NET INCOME (LOSS) attributable to common shareholders $ 11,589 $ (19,154) $ 842,250 $ 7,072
INCOME (LOSS) PER COMMON SHARE - BASIC:        
Net income (loss) per common share (in dollars per share) $ 0.06 $ (0.10) $ 4.39 $ 0.04
Weighted average shares outstanding (in shares) 192,050 190,556 191,804 190,493
INCOME (LOSS) PER COMMON SHARE - DILUTED:        
Net income (loss) per common share (in dollars per share) $ 0.06 $ (0.10) $ 4.19 $ 0.04
Weighted average shares outstanding (in shares) 200,150 190,556 201,098 195,473
Rental revenues        
REVENUES:        
Total revenues $ 389,097 $ 387,470 $ 1,176,104 $ 1,170,343
Fee and other income        
REVENUES:        
Total revenues $ 64,603 $ 55,785 $ 180,612 $ 159,553