| Schedule of Earnings Per Share Basic and Diluted |
| | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in thousands, except per share amounts) | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | Net (loss) income attributable to Vornado | $ | (31,613) | | | $ | 27,115 | | | $ | (6,971) | | | $ | 888,828 | | | Preferred share dividends | (15,525) | | | (15,526) | | | (46,575) | | | (46,578) | | | | | | | | | | | Net (loss) income attributable to common shareholders | (47,138) | | | 11,589 | | | (53,546) | | | 842,250 | | | Distributions and earnings allocated to unvested participating securities | — | | | — | | | — | | | — | | | Numerator for basic (loss) income per common share | (47,138) | | | 11,589 | | | (53,546) | | | 842,250 | | | Impact of assumed conversion of dilutive convertible securities | (63) | | | — | | | — | | | 1,189 | | | Numerator for diluted (loss) income per common share | $ | (47,201) | | | $ | 11,589 | | | $ | (53,546) | | | $ | 843,439 | | | | | | | | | | | Denominator: | | | | | | | | | Denominator for basic (loss) income per common share - weighted average shares | 186,822 | | | 192,050 | | | 187,909 | | | 191,804 | | Effect of dilutive securities(1): | | | | | | | | | Share-based payment awards | — | | | 8,100 | | | — | | | 8,000 | | | Convertible securities | 24 | | | — | | | — | | | 1,294 | | | Denominator for diluted (loss) income per common share - weighted average shares and assumed conversions | 186,846 | | | 200,150 | | | 187,909 | | | 201,098 | | | | | | | | | | | (LOSS) INCOME PER COMMON SHARE: | | | | | | | | | Basic | $ | (0.25) | | | $ | 0.06 | | | $ | (0.28) | | | $ | 4.39 | | | Diluted | $ | (0.25) | | | $ | 0.06 | | | $ | (0.28) | | | $ | 4.19 | |
________________________ (1)The calculation of diluted (loss) income per common share for the three and nine months ended September 30, 2026 excluded weighted average potential common shares of 9,438 and 8,565, respectively, as their effect was antidilutive. The calculation of diluted (loss) income per common share for the three months ended September 30, 2025 excluded weighted average potential common share equivalents of 1,291 as their effect was antidilutive. There were no antidilutive potential common share equivalents for the nine months ended September 30, 2025. | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in thousands, except per unit amounts) | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | Net (loss) income attributable to 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 Class A unitholders | (51,338) | | | 12,596 | | | (58,333) | | | 915,952 | | | Distributions and earnings allocated to unvested participating securities | — | | | (175) | | | — | | | (12,792) | | | Numerator for basic (loss) income per Class A unit | (51,338) | | | 12,421 | | | (58,333) | | | 903,160 | | | Impact of assumed conversion of dilutive convertible securities | (63) | | | — | | | — | | | 1,189 | | | Numerator for diluted (loss) income per Class A unit | $ | (51,401) | | | $ | 12,421 | | | $ | (58,333) | | | $ | 904,349 | | | | | | | | | | | Denominator: | | | | | | | | | Denominator for basic (loss) income per Class A unit - weighted average units | 202,080 | | | 205,846 | | | 202,661 | | | 205,806 | | Effect of dilutive securities(1): | | | | | | | | | Unit-based payment awards | — | | | 8,100 | | | — | | | 8,000 | | | Convertible securities | 24 | | | — | | | — | | | 1,294 | | | Denominator for diluted (loss) income per Class A unit - weighted average units and assumed conversions | 202,104 | | | 213,946 | | | 202,661 | | | 215,100 | | | | | | | | | | | (LOSS) INCOME PER CLASS A UNIT: | | | | | | | | | | | | | | | | | | | | | | | | | Basic | $ | (0.25) | | | $ | 0.06 | | | $ | (0.29) | | | $ | 4.39 | | | Diluted | $ | (0.25) | | | $ | 0.06 | | | $ | (0.29) | | | $ | 4.20 | |
________________________ (1)The calculation of diluted (loss) income per Class A unit for the three and nine months ended September 30, 2026 excluded weighted average potential Class A units of 9,438 and 8,565, respectively, as their effect was antidilutive. The calculation of diluted (loss) income per Class A unit for the three months ended September 30, 2025 excluded weighted average potential Class A units of 1,291 as their effect was antidilutive. There were no antidilutive potential Class A unit equivalents for the nine months ended September 30, 2025.
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