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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Real estate, at cost:    
Land $ 2,357,135 $ 2,408,914
Buildings and improvements 11,083,517 10,942,418
Development costs and construction in progress 1,012,045 890,143
Leasehold improvements and equipment 109,117 105,080
Total 14,561,814 14,346,555
Less accumulated depreciation and amortization (4,411,617) (4,191,075)
Real estate, net 10,150,197 10,155,480
Right-of-use assets 668,171 671,308
Net investment in lease 166,450 166,024
Cash and cash equivalents 675,353 840,850
Restricted cash 113,567 136,696
Tenant and other receivables 97,552 77,137
Investments in partially owned entities 2,229,224 1,941,278
Receivable arising from the straight-lining of rents 803,848 752,545
Deferred leasing costs, net of accumulated amortization of $242,589 and $233,448 379,374 374,620
Identified intangible assets, net of accumulated amortization of $85,206 and $81,962 106,820 110,593
Other assets 220,612 294,587
Assets 15,611,168 15,521,118
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY    
Mortgages payable, net 4,844,730 4,920,669
Senior unsecured notes, net 841,940 747,202
Unsecured term loan, net 840,030 797,337
Unsecured revolving credit facilities 918,000 720,420
Lease liabilities 696,225 699,640
Accounts payable and accrued expenses 354,074 376,190
Deferred compensation plan 98,746 113,778
Other liabilities 320,452 341,359
Total liabilities 8,914,197 8,716,595
Commitments and contingencies
Redeemable noncontrolling interests:    
Total redeemable noncontrolling interests 733,687 647,951
Partners' equity:    
Earnings less than distributions (3,631,204) (3,491,603)
Accumulated other comprehensive income (loss) 26,033 (5)
Total shareholders' / partners' equity 5,787,587 5,986,727
Noncontrolling interests in consolidated subsidiaries 175,697 169,845
Total equity 5,963,284 6,156,572
Total liabilities, redeemable noncontrolling interests / partnership units and equity 15,611,168 15,521,118
Partnership Interest    
Redeemable noncontrolling interests:    
Class A units - 16,653,539 and 16,650,713 units outstanding 654,484 554,136
Series D cumulative redeemable preferred units - 141,400 units outstanding 3,535 3,535
Total redeemable noncontrolling interests 658,019 557,671
Redeemable noncontrolling interest in a consolidated subsidiary    
Redeemable noncontrolling interests:    
Total redeemable noncontrolling interests 75,668 90,280
Vornado Realty L.P.    
Real estate, at cost:    
Land 2,357,135 2,408,914
Buildings and improvements 11,083,517 10,942,418
Development costs and construction in progress 1,012,045 890,143
Leasehold improvements and equipment 109,117 105,080
Total 14,561,814 14,346,555
Less accumulated depreciation and amortization (4,411,617) (4,191,075)
Real estate, net 10,150,197 10,155,480
Right-of-use assets 668,171 671,308
Net investment in lease 166,450 166,024
Cash and cash equivalents 675,353 840,850
Restricted cash 113,567 136,696
Tenant and other receivables 97,552 77,137
Investments in partially owned entities 2,229,224 1,941,278
Receivable arising from the straight-lining of rents 803,848 752,545
Deferred leasing costs, net of accumulated amortization of $242,589 and $233,448 379,374 374,620
Identified intangible assets, net of accumulated amortization of $85,206 and $81,962 106,820 110,593
Other assets 220,612 294,587
Assets 15,611,168 15,521,118
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY    
Mortgages payable, net 4,844,730 4,920,669
Senior unsecured notes, net 841,940 747,202
Unsecured term loan, net 840,030 797,337
Unsecured revolving credit facilities 918,000 720,420
Lease liabilities 696,225 699,640
Accounts payable and accrued expenses 354,074 376,190
Deferred compensation plan 98,746 113,778
Other liabilities 320,452 341,359
Total liabilities 8,914,197 8,716,595
Commitments and contingencies
Redeemable noncontrolling interests:    
Total redeemable noncontrolling interests 733,687 647,951
Partners' equity:    
Partners' capital 9,392,758 9,478,335
Earnings less than distributions (3,631,204) (3,491,603)
Accumulated other comprehensive income (loss) 26,033 (5)
Total shareholders' / partners' equity 5,787,587 5,986,727
Noncontrolling interests in consolidated subsidiaries 175,697 169,845
Total equity 5,963,284 6,156,572
Total liabilities, redeemable noncontrolling interests / partnership units and equity 15,611,168 15,521,118
Vornado Realty L.P. | Partnership Interest    
Redeemable noncontrolling interests:    
Class A units - 16,653,539 and 16,650,713 units outstanding 654,484 554,136
Series D cumulative redeemable preferred units - 141,400 units outstanding 3,535 3,535
Total redeemable noncontrolling interests 658,019 557,671
Vornado Realty L.P. | Redeemable noncontrolling interest in a consolidated subsidiary    
Redeemable noncontrolling interests:    
Total redeemable noncontrolling interests $ 75,668 $ 90,280