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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES:        
Total revenues $ 462,242 $ 441,437 $ 921,347 $ 903,016
EXPENSES:        
Operating (223,649) (219,348) (470,280) (444,088)
Depreciation and amortization (171,228) (115,574) (289,756) (231,729)
General and administrative (39,100) (39,978) (81,345) (78,575)
Expense from deferred compensation plan liability (2,483) (3,123) (3,064) (2,034)
Transaction related costs and other (173) (721) (935) (764)
Total expenses (436,633) (378,744) (845,380) (757,190)
Income from partially owned entities 63,195 16,671 76,017 113,648
Interest and other investment income, net 8,989 11,056 18,316 19,317
Income from deferred compensation plan assets 2,483 3,123 3,064 2,034
Interest and debt expense (89,582) (87,929) (178,788) (183,745)
Gain on debt extinguishment 32,073 0 32,073 0
Gain on sales-type lease     0 803,248
Net gains on disposition of wholly owned and partially owned assets 0 8,488 0 24,039
Income before income taxes 42,767 817,350 26,649 924,367
Income tax expense (3,571) (4,123) (9,479) (11,316)
Net income 39,196 813,227 17,170 913,051
Less net (income) loss attributable to noncontrolling interests in consolidated subsidiaries (5,748) 10,981 6,942 21,414
Net income attributable to Vornado/Vornado Realty L.P. 31,959 759,345 24,642 861,713
Preferred 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
Rental revenues        
REVENUES:        
Total revenues 405,073 382,252 804,257 787,007
Fee and other income        
REVENUES:        
Total revenues 57,169 59,185 117,090 116,009
Vornado Realty L.P.        
REVENUES:        
Total revenues 462,242 441,437 921,347 903,016
EXPENSES:        
Operating (223,649) (219,348) (470,280) (444,088)
Depreciation and amortization (171,228) (115,574) (289,756) (231,729)
General and administrative (39,100) (39,978) (81,345) (78,575)
Expense from deferred compensation plan liability (2,483) (3,123) (3,064) (2,034)
Transaction related costs and other (173) (721) (935) (764)
Total expenses (436,633) (378,744) (845,380) (757,190)
Income from partially owned entities 63,195 16,671 76,017 113,648
Interest and other investment income, net 8,989 11,056 18,316 19,317
Income from deferred compensation plan assets 2,483 3,123 3,064 2,034
Interest and debt expense (89,582) (87,929) (178,788) (183,745)
Gain on debt extinguishment 32,073 0 32,073 0
Gain on sales-type lease 0 803,248 0 803,248
Net gains on disposition of wholly owned and partially owned assets 0 8,488 0 24,039
Income before income taxes 42,767 817,350 26,649 924,367
Income tax expense (3,571) (4,123) (9,479) (11,316)
Net income 39,196 813,227 17,170 913,051
Less net (income) loss attributable to noncontrolling interests in consolidated subsidiaries (5,748) 10,981 6,942 21,414
Net income attributable to Vornado/Vornado Realty L.P. 33,448 824,208 24,112 934,465
Preferred 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
INCOME (LOSS) PER CLASS A UNIT - BASIC:        
Net (loss) income per Class A unit (in dollars per unit) $ 0.09 $ 3.87 $ (0.03) $ 4.33
Weighted average units outstanding, basic (in shares) 201,703 205,809 203,045 205,785
INCOME (LOSS) PER CLASS A UNIT - DILUTED:        
Net (loss) income per Class A unit (in dollars per unit) $ 0.08 $ 3.71 $ (0.03) $ 4.15
Weighted average units outstanding, diluted (in shares) 208,625 214,891 203,045 215,032
Vornado Realty L.P. | Rental revenues        
REVENUES:        
Total revenues $ 405,073 $ 382,252 $ 804,257 $ 787,007
Vornado Realty L.P. | Fee and other income        
REVENUES:        
Total revenues $ 57,169 $ 59,185 $ 117,090 $ 116,009