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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
REVENUES:        
Property rentals $ 532,399 $ 544,905 $ 1,067,374 $ 1,084,814
Tenant expense reimbursements 78,833 77,902 157,934 164,507
Cleveland Medical Mart development project 56,304 32,369 111,363 73,068
Fee and other income 33,055 40,862 66,344 75,048
Total revenues 700,591 696,038 1,403,015 1,397,437
EXPENSES:        
Operating 251,970 257,228 515,339 528,642
Depreciation and amortization 132,529 125,802 267,983 251,598
General and administrative 46,834 49,795 102,405 108,243
Cleveland Medical Mart development project 53,935 29,940 106,696 68,218
Acquisition related costs and tenant buy-outs 2,559 1,897 3,244 20,167
Total expenses 487,827 464,662 995,667 976,868
Operating income 212,764 231,376 407,348 420,569
Income from partially owned entities (6,627) 3,170 129,504 131,993
Income from Real Estate Fund (of which $12,306 and $12,102 in each three-month period, respectively, and $20,239 and $12,028 in each six-month period, respectively, are attributable to noncontrolling interests) 20,301 19,058 32,063 20,138
Interest and other investment (loss) income, net (49,172) 7,998 (33,507) 125,097
Interest and debt expense (including amortization of deferred financing costs of $5,855 and $5,191, in each three-month period, respectively, and $11,720 and $9,792 in each six-month period, respectively) (128,427) (135,361) (262,655) (268,296)
Net gain on disposition of wholly owned and partially owned assets 4,856 0 4,856 6,677
Income before income taxes 53,695 126,241 277,609 436,178
Income tax expense (7,479) (5,641) (14,304) (11,589)
Income from continuing operations 46,216 120,600 263,305 424,589
Income from discontinued operations 12,012 10,369 75,187 152,201
Net income 58,228 130,969 338,492 576,790
Less net income attributable to noncontrolling interests in: Consolidated subsidiaries (14,721) (13,657) (24,318) (15,007)
Less net income attributable to noncontrolling interests in: Operating Partnership, including unit distributions (5,210) (8,731) (24,355) (40,539)
Net income attributable to Vornado 38,297 108,581 289,819 521,244
Preferred share dividends (17,787) (16,668) (35,574) (30,116)
NET INCOME attributable to common shareholders 20,510 91,913 254,245 491,128
INCOME PER COMMON SHARE - BASIC:        
Income from continuing operations, net $ 0.05 $ 0.44 $ 0.99 $ 1.89
Income from discontinued operations, net $ 0.06 $ 0.06 $ 0.38 $ 0.78
Net income per common share $ 0.11 $ 0.50 $ 1.37 $ 2.67
Weighted average shares outstanding 185,673 184,268 185,521 184,129
INCOME PER COMMON SHARE - DILUTED:        
Income from continuing operations, net $ 0.05 $ 0.44 $ 0.98 $ 1.88
Income from discontinued operations, net $ 0.06 $ 0.05 $ 0.38 $ 0.75
Net income per common share $ 0.11 $ 0.49 $ 1.36 $ 2.63
Weighted average shares outstanding 186,342 186,144 186,271 191,736
DIVIDENDS PER COMMON SHARE $ 0.69 $ 0.69 $ 1.38 $ 1.38
Toys R Us [Member]
       
EXPENSES:        
Income from partially owned entities (19,190) (22,846) 97,281 90,098
All Equity Method Investees Excluding Toys [Member]
       
EXPENSES:        
Income from partially owned entities $ 12,563 $ 26,016 $ 32,223 $ 41,895