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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
REVENUES:      
Total revenues $ 1,810,425 $ 1,787,686 $ 1,811,163
EXPENSES:      
Operating (919,959) (927,796) (905,158)
Depreciation and amortization expense (462,201) (447,500) (434,273)
General and administrative (156,115) (148,520) (162,883)
Expense from deferred compensation plan liability (10,938) (12,638) (12,162)
Transaction related costs, impairment losses and other (2,531) (5,242) (50,691)
Total expenses (1,551,744) (1,541,696) (1,565,167)
Income from partially owned entities 141,310 112,464 38,689
Interest and other investment income, net 55,113 45,974 43,287
Income from deferred compensation plan assets 10,938 12,638 12,162
Interest and debt expense (353,868) (390,269) (349,223)
Gain on sales-type lease 803,248 0 0
Net gains on disposition of wholly owned and partially owned assets 35,291 16,048 71,199
Income before income taxes 950,713 42,845 62,110
Income tax expense (13,509) (22,729) (29,222)
Net income 937,204 20,116 32,888
Less net loss attributable to noncontrolling interests in consolidated subsidiaries 41,622 51,131 75,967
Net income attributable to Vornado/Vornado Realty L.P. 904,955 70,387 105,494
Preferred unit distributions (62,104) (62,112) (62,116)
Net income attributable to common shareholders/Class A unitholders 842,851 8,275 43,378
Rental revenues      
REVENUES:      
Total revenues 1,558,241 1,568,806 1,607,486
Fee and other income      
REVENUES:      
Total revenues 252,184 218,880 203,677
Vornado Realty L.P.      
REVENUES:      
Total revenues 1,810,425 1,787,686 1,811,163
EXPENSES:      
Operating (919,959) (927,796) (905,158)
Depreciation and amortization expense (462,201) (447,500) (434,273)
General and administrative (156,115) (148,520) (162,883)
Expense from deferred compensation plan liability (10,938) (12,638) (12,162)
Transaction related costs, impairment losses and other (2,531) (5,242) (50,691)
Total expenses (1,551,744) (1,541,696) (1,565,167)
Income from partially owned entities 141,310 112,464 38,689
Interest and other investment income, net 55,113 45,974 43,287
Income from deferred compensation plan assets 10,938 12,638 12,162
Interest and debt expense (353,868) (390,269) (349,223)
Gain on sales-type lease 803,248 0 0
Net gains on disposition of wholly owned and partially owned assets 35,291 16,048 71,199
Income before income taxes 950,713 42,845 62,110
Income tax expense (13,509) (22,729) (29,222)
Net income 937,204 20,116 32,888
Less net loss attributable to noncontrolling interests in consolidated subsidiaries 41,622 51,131 75,967
Net income attributable to Vornado/Vornado Realty L.P. 978,826 71,247 108,855
Preferred unit distributions (62,219) (62,227) (62,231)
Net income attributable to common shareholders/Class A unitholders $ 916,607 $ 9,020 $ 46,624
INCOME PER CLASS A UNIT - BASIC:      
Net income per Class A unit (in dollars per unit) $ 4.39 $ 0.03 $ 0.22
Weighted average units outstanding (in shares) 205,697 204,981 205,105
INCOME PER CLASS A UNIT - DILUTED:      
Net income per Class A unit (in dollars per unit) $ 4.21 $ 0.03 $ 0.22
Weighted average units outstanding (in shares) 214,987 211,068 205,956
Vornado Realty L.P. | Rental revenues      
REVENUES:      
Total revenues $ 1,558,241 $ 1,568,806 $ 1,607,486
Vornado Realty L.P. | Fee and other income      
REVENUES:      
Total revenues $ 252,184 $ 218,880 $ 203,677