v3.26.3
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
REVENUES:        
Total revenues $ 467,657 $ 453,700 $ 1,389,004 $ 1,356,716
EXPENSES:        
Operating (245,521) (241,769) (715,801) (685,857)
Depreciation and amortization (169,045) (117,122) (458,801) (348,851)
General and administrative (34,705) (37,490) (116,050) (116,065)
Income (expense) from deferred compensation plan liability 4,333 (6,756) 1,269 (8,790)
Transaction related costs and other (393) (3,563) (1,328) (4,327)
Total expenses (445,331) (406,700) (1,290,711) (1,163,890)
Income from partially owned entities 23,318 21,940 99,335 135,588
Interest and other investment income, net 5,107 22,413 23,423 41,730
(Expense) income from deferred compensation plan assets (4,333) 6,756 (1,269) 8,790
Interest and debt expense (88,714) (84,459) (267,502) (268,204)
Gain on debt extinguishment 0 0 32,073 0
Gain on sales-type lease 0 0 0 803,248
Net gains on disposition of wholly owned and partially owned assets 0 0 0 24,039
(Loss) income before income taxes (42,296) 13,650 (15,647) 938,017
Income tax (expense) benefit (3,668) 5,589 (13,147) (5,727)
Net (loss) income (45,964) 19,239 (28,794) 932,290
Less net loss attributable to noncontrolling interests in consolidated subsidiaries 10,180 8,912 17,122 30,326
Net (loss) income attributable to Vornado/Vornado Realty L.P. (31,613) 27,115 (6,971) 888,828
Preferred unit distributions (15,525) (15,526) (46,575) (46,578)
Net (Loss) Income attributable to common shareholders/Class A unitholders (47,138) 11,589 (53,546) 842,250
Rental revenues        
REVENUES:        
Total revenues 409,621 389,097 1,213,878 1,176,104
Fee and other income        
REVENUES:        
Total revenues 58,036 64,603 175,126 180,612
Vornado Realty L.P.        
REVENUES:        
Total revenues 467,657 453,700 1,389,004 1,356,716
EXPENSES:        
Operating (245,521) (241,769) (715,801) (685,857)
Depreciation and amortization (169,045) (117,122) (458,801) (348,851)
General and administrative (34,705) (37,490) (116,050) (116,065)
Income (expense) from deferred compensation plan liability 4,333 (6,756) 1,269 (8,790)
Transaction related costs and other (393) (3,563) (1,328) (4,327)
Total expenses (445,331) (406,700) (1,290,711) (1,163,890)
Income from partially owned entities 23,318 21,940 99,335 135,588
Interest and other investment income, net 5,107 22,413 23,423 41,730
(Expense) income from deferred compensation plan assets (4,333) 6,756 (1,269) 8,790
Interest and debt expense (88,714) (84,459) (267,502) (268,204)
Gain on debt extinguishment 0 0 32,073 0
Gain on sales-type lease 0 0 0 803,248
Net gains on disposition of wholly owned and partially owned assets 0 0 0 24,039
(Loss) income before income taxes (42,296) 13,650 (15,647) 938,017
Income tax (expense) benefit (3,668) 5,589 (13,147) (5,727)
Net (loss) income (45,964) 19,239 (28,794) 932,290
Less net loss attributable to noncontrolling interests in consolidated subsidiaries 10,180 8,912 17,122 30,326
Net (loss) income attributable to Vornado/Vornado Realty L.P. (35,784) 28,151 (11,672) 962,616
Preferred unit distributions (15,554) (15,555) (46,661) (46,664)
Net (Loss) Income attributable to common shareholders/Class A unitholders $ (51,338) $ 12,596 $ (58,333) $ 915,952
(LOSS) INCOME PER CLASS A UNIT - BASIC:        
Net (loss) income per Class A unit (in dollars per unit) $ (0.25) $ 0.06 $ (0.29) $ 4.39
Weighted average units outstanding, basic (in shares) 202,080 205,846 202,661 205,806
(LOSS) INCOME PER CLASS A UNIT - DILUTED:        
Net (loss) income per Class A unit (in dollars per unit) $ (0.25) $ 0.06 $ (0.29) $ 4.20
Weighted average units outstanding, diluted (in shares) 202,104 213,946 202,661 215,100
Vornado Realty L.P. | Rental revenues        
REVENUES:        
Total revenues $ 409,621 $ 389,097 $ 1,213,878 $ 1,176,104
Vornado Realty L.P. | Fee and other income        
REVENUES:        
Total revenues $ 58,036 $ 64,603 $ 175,126 $ 180,612