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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 (income) attributable to noncontrolling interests in:      
Consolidated subsidiaries 41,622 51,131 75,967
Operating Partnership (73,871) (860) (3,361)
Net income attributable to Vornado/Vornado Realty L.P. 904,955 70,387 105,494
Preferred share dividends/unit distributions (62,104) (62,112) (62,116)
Net income attributable to common shareholders/Class A unitholders $ 842,851 $ 8,275 $ 43,378
INCOME PER COMMON SHARE - BASIC:      
Net income per common share (in dollars per share) $ 4.40 $ 0.04 $ 0.23
Weighted average shares outstanding (in shares) 191,759 190,539 191,005
INCOME PER COMMON SHARE - DILUTED:      
Net income per common share (in dollars per share) $ 4.20 $ 0.04 $ 0.23
Weighted average shares outstanding (in shares) 201,049 196,626 191,856
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