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Income (Loss) Per Share and Per Class A Unit - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2026 | Jun. 30, 2025 | Jun. 30, 2026 | Jun. 30, 2025
Numerator: |  |  |  |
Net income attributable to Vornado/Vornado Realty L.P. | $ 31,959 | $ 759,345 | $ 24,642 | $ 861,713
Preferred share dividends/unit distributions | (15,525) | (15,526) | (31,050) | (31,052)
Net income (loss) attributable to common shareholders/Class A unitholders | 16,434 | 743,819 | (6,408) | 830,661
Distributions and earnings allocated to unvested participating securities | 0 | 0 | 0 | 0
Numerator for basic income (loss) per common share/Class A unit | 16,434 | 743,819 | (6,408) | 830,661
Impact of assumed conversion of dilutive convertible securities | 0 | 425 | 0 | 735
Numerator for diluted income (loss) per common share/Class A unit | $ 16,434 | $ 744,244 | $ (6,408) | $ 831,396
Denominator: |  |  |  |
Denominator for basic income (loss) per common share - weighted average shares (in shares) | 187,279 | 191,984 | 188,462 | 191,680
Effect of dilutive securities: |  |  |  |
Share/unit-based payment awards (in shares) | 6,922 | 7,740 | 0 | 7,951
Convertible securities (in shares) | 0 | 1,342 | 0 | 1,296
Denominator for diluted income (loss) per common share - weighted average shares and assumed conversions (in shares) | 194,201 | 201,066 | 188,462 | 200,927
INCOME (LOSS) PER COMMON SHARE/CLASS A UNIT: |  |  |  |
Basic (in dollars per share) | $ 0.09 | $ 3.87 | $ (0.03) | $ 4.33
Diluted (in dollars per share) | $ 0.08 | $ 3.70 | $ (0.03) | $ 4.14
INCOME (LOSS) PER COMMON SHARE/CLASS A UNIT: |  |  |  |
Weighted average common share / class A unit equivalents of excluded dilutive securities due to anti-dilutive effect (in shares) | 1,546 | 0 | 8,141 | 0
Vornado Realty L.P. |  |  |  |
Numerator: |  |  |  |
Net income attributable to Vornado/Vornado Realty L.P. | $ 33,448 | $ 824,208 | $ 24,112 | $ 934,465
Preferred share dividends/unit distributions | (15,553) | (15,554) | (31,107) | (31,109)
Net income (loss) attributable to common shareholders/Class A unitholders | 17,895 | 808,654 | (6,995) | 903,356
Distributions and earnings allocated to unvested participating securities | (196) | (11,272) | 0 | (12,644)
Numerator for basic income (loss) per common share/Class A unit | 17,699 | 797,382 | (6,995) | 890,712
Impact of assumed conversion of dilutive convertible securities | 0 | 425 | 0 | 735
Numerator for diluted income (loss) per common share/Class A unit | $ 17,699 | $ 797,807 | $ (6,995) | $ 891,447
Denominator: |  |  |  |
Denominator for basic income (loss) per Class A unit - weighted average units (in shares) | 201,703 | 205,809 | 203,045 | 205,785
Effect of dilutive securities: |  |  |  |
Share/unit-based payment awards (in shares) | 6,922 | 7,740 | 0 | 7,951
Convertible securities (in shares) | 0 | 1,342 | 0 | 1,296
Denominator for diluted income (loss) per Class A unit - weighted average units and assumed conversions (in shares) | 208,625 | 214,891 | 203,045 | 215,032
INCOME (LOSS) PER COMMON SHARE/CLASS A UNIT: |  |  |  |
Basic (in dollars per unit) | $ 0.09 | $ 3.87 | $ (0.03) | $ 4.33
Diluted (in dollars per unit) | $ 0.08 | $ 3.71 | $ (0.03) | $ 4.15
Weighted average common share / class A unit equivalents of excluded dilutive securities due to anti-dilutive effect (in shares) | 1,546 | 0 | 8,141 | 0

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