Vornado Realty Trust (VNO)

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Vornado Realty Trust

VNO • CIK 0000899689

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest and Debt Expense	$349,223	$390,269	$353,868	$348,911
Gain (Loss) on Disposition of Assets	$71,199	$16,048	$35,291	$11,252
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$62,110	$42,845	$950,713	$52,995
Income Tax Expense (Benefit)	$29,222	$22,729	$13,509	$11,672
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$32,888	$20,116	$937,204	$41,323
Net Income (Loss) Attributable to Parent	$105,494	$70,387	$904,955	$67,884
Preferred Stock Dividends, Income Statement Impact	$62,116	$62,112	$62,104	$62,102
Net Income (Loss) Available to Common Stockholders, Basic	$43,378	$8,275	$842,851	$5,782
Revenues	$1,811,163	$1,787,686	$1,810,425	$1,828,756
Operating Costs and Expenses	$905,158	$927,796	$919,959	$946,151
Depreciation, Depletion and Amortization, Nonproduction	$434,273	$447,500	$462,201	$520,228
General and Administrative Expense	$162,883	$148,520	$156,115	$158,885
Restructuring, Settlement and Impairment Provisions	$50,691	$5,242	$2,531	$2,702
Operating Expenses	$1,565,167	$1,541,696	$1,551,744	$1,639,934
Noncontrolling Interest in Net Income (Loss) Joint Venture Partners, Nonredeemable	$-75,967	$-51,131	$-41,622	$-27,150
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	$3,361	$860	$73,871	$589
Weighted Average Number of Shares Outstanding, Basic	191,005,000	190,539,000	191,759,000	188,541,000
Weighted Average Number of Shares Outstanding, Diluted	191,856,000	196,626,000	201,049,000	188,584,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,458,000	1,580,000	0	8,141,000
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	$2	$0	$0	$0
Undistributed Earnings (Loss) Available to Common Shareholders, Basic	—	$8,275	$842,851	$5,782
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities	—	—	$1,409	$674
Undistributed Earnings (Loss) Available to Common Shareholders, Diluted	—	$8,275	$844,260	$6,456
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	851,000	6,087,000	7,976,000	25,000
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	—	—	1,314,000	18,000

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Operating Lease, Right-of-Use Asset	$680,044	$678,804	$671,308	$668,171
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss	—	—	$166,024	$166,450
Cash and Cash Equivalents, at Carrying Value	$997,002	$733,947	$840,850	$675,353
Restricted Cash and Cash Equivalents	$264,582	$215,672	$136,696	$113,567
Accounts Receivable, after Allowance for Credit Loss	$69,543	$58,853	$77,137	$97,552
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$2,610,558	$2,691,478	$1,941,278	$2,229,224
Deferred Rent Receivables, Net	$701,666	$707,020	$752,545	$803,848
Finite-Lived Intangible Assets, Net	$127,082	$118,215	$110,593	$106,820
Other Assets	$297,860	$373,454	$294,587	$220,612
Assets	$16,187,665	$15,998,608	$15,521,118	$15,611,168
Loans Payable	$5,688,020	$5,676,014	$4,920,669	$4,844,730
Senior Notes	$1,193,873	$1,195,914	$747,202	$841,940
Unsecured Debt	$794,559	$795,948	$797,337	$840,030
Long-term Line of Credit	$575,000	$575,000	$720,420	$918,000
Operating Lease, Liability	$732,859	$749,759	$699,640	$696,225
Accounts Payable and Accrued Liabilities	$411,044	$374,013	$376,190	$354,074
Deferred Compensation Liability, Current and Noncurrent	$105,245	$114,580	$113,778	$98,746
Other Liabilities	$311,132	$317,087	$341,359	$320,452
Liabilities	$9,843,931	$9,826,739	$8,716,595	$8,914,197
Stockholders' Equity Attributable to Noncontrolling Interest	$196,222	$178,969	$169,845	$175,697
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$5,705,286	$5,337,211	$6,156,572	$5,963,284
Land	$2,436,221	$2,434,209	$2,408,914	$2,357,135
Buildings and Improvements, Gross	$9,952,954	$10,439,113	$10,942,418	$11,083,517
Development in Process	$1,281,076	$1,097,395	$890,143	$1,012,045
Fixtures and Equipment, Gross	$130,953	$120,915	$105,080	$109,117
Real Estate Investment Property, at Cost	$13,801,204	$14,091,632	$14,346,555	$14,561,814
Real Estate Investment Property, Accumulated Depreciation	$3,752,827	$4,025,349	$4,191,075	$4,411,617
Real Estate Investment Property, Net	$10,048,377	$10,066,283	$10,155,480	$10,150,197
Redeemable Noncontrolling Interest, Equity, Carrying Amount	$638,448	$834,658	$647,951	$733,687
Preferred Stock, Value, Issued	$1,182,459	$1,182,364	$1,182,345	$1,182,505
Common Stock, Value, Issued	$7,594	$7,634	$7,627	$7,469
Additional Paid in Capital	$8,263,291	$8,052,793	$8,288,363	$8,202,784
Retained Earnings (Accumulated Deficit)	$-4,009,395	$-4,142,249	$-3,491,603	$-3,631,204
Accumulated Other Comprehensive Income (Loss), Net of Tax	$65,115	$57,700	$-5	$26,033
Stockholders' Equity Attributable to Parent	$5,509,064	$5,158,242	$5,986,727	$5,787,587
Finite-Lived Intangible Assets, Accumulated Amortization	$98,589	$75,002	$81,962	$85,206
Preferred Stock, Shares Authorized	110,000,000	110,000,000	110,000,000	110,000,000
Preferred Stock, Shares Issued	48,792,902	48,789,180	48,788,450	48,787,838
Common Stock, Shares Authorized	250,000,000	250,000,000	250,000,000	250,000,000
Common Stock, Shares, Issued	190,390,703	190,846,580	190,666,367	186,720,531

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$240,427	$-311,965	$27,927	$-574,378
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$1,261,584	$949,619	$977,546	$1,382,174
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$32,888	$20,116	$937,204	$41,323
Net Cash Provided by (Used in) Operating Activities	$648,152	$537,723	$1,258,385	$390,889
Payments to Acquire Other Property, Plant, and Equipment	$33,145	$0	$296,681	$445,750
Payments to Acquire Real Estate	$211,899	$222,739	$268,258	$236,078
Payments to Develop Real Estate Assets	$552,701	$242,874	$144,609	$125,394
Proceeds from Sale of Other Real Estate	$123,519	$2,000	$58,339	$85,781
Proceeds from Sale of Real Estate Held-for-investment	$24,484	$31,605	$37,374	$12,535
Payments to Acquire Equity Method Investments	$57,297	$115,357	$35,585	$300,582
Payments to Acquire Loans Receivable	—	$50,000	$35,000	$35,000
Proceeds from Sale of Short-term Investments	$468,598	$0	$0	$0
Proceeds from Collection of Loans Receivable	$105,000	$0	$0	$85,000
Cash Divested from Deconsolidation	$14,216	$0	$0	$0
Net Cash Provided by (Used in) Investing Activities	$-128,788	$-597,365	$115,507	$-908,295
Repayments of Long-term Debt	$148,000	$97,439	$1,903,513	$2,040,850
Proceeds from Issuance of Long-term Debt	$0	$75,000	$835,794	$2,430,575
Payments of Ordinary Dividends, Common Stock	$129,066	$141,103	$141,277	$141,277
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	$62,116	$62,112	$62,104	$62,102
Payments for Repurchase of Common Stock	$29,183	$0	$50,991	$184,387
Payments of Ordinary Dividends, Noncontrolling Interest	$38,970	$18,156	$23,067	$23,697
Payments of Financing Costs	$4,424	$13,870	$7,478	$41,289
Proceeds from Noncontrolling Interests	$132,701	$5,300	$6,712	$6,039
Proceeds from (Payments for) Other Financing Activities	—	$57	$-41	$16
Net Cash Provided by (Used in) Financing Activities	$-278,937	$-252,323	$-1,345,965	$-56,972
Cash and Cash Equivalents, at Carrying Value	$997,002	$733,947	$840,850	$1,353,288
Restricted Cash and Cash Equivalents	$264,582	$215,672	$136,696	$28,886
Interest Paid, Excluding Capitalized Interest, Operating Activities	$381,410	$322,774	$313,093	$295,170
Income Taxes Paid	$10,365	$7,608	$5,201	$6,873
Capital Expenditures Incurred but Not yet Paid	$52,091	$39,784	$43,875	$44,572
Transfer to Investments	$0	$15,279	$3,044	$3,044
Contribution of Property	$50,090	$0	$0	$0
Sales-type Lease, Selling Profit (Loss)	—	—	$803,248	$0
Depreciation, Depletion and Amortization	$457,574	$469,423	$481,456	$540,405
Income (Loss) from Equity Method Investments	$38,689	$112,464	$141,310	$103,679
Proceeds from Equity Method Investment, Distribution	$172,873	$142,880	$114,754	$113,420
Straight Line Rent	$8,808	$5,086	$71,960	$104,762
Gain (Loss) on Disposition of Assets	$71,199	$16,048	$35,291	$11,252
Share-based Payment Arrangement, Noncash Expense	$43,201	$30,172	$25,479	$25,397
Amortization of Deferred Hedge Gains	$10,989	$41,745	$23,466	$9,378
Amortization of Below Market Lease	$5,268	$3,035	$383	$435
Impairment of Real Estate	$45,007	$0	$0	$0
Financing Receivable, Credit Loss, Expense (Reversal)	$8,269	$0	$0	$0
Other Noncash Income (Expense)	$-8,866	$-13,995	$-4,510	$-7,918
Increase (Decrease) in Accounts Receivable	$-9,379	$-4,704	$18,787	$37,517
Increase (Decrease) in Prepaid Expense	$12,854	$8,346	$-8,644	$8,674
Increase (Decrease) in Other Operating Assets	$79,110	$74,420	$133,058	$76,958
IncreaseDecreaseInOperatingLeaseLiability	$17,582	$16,900	$-43,352	$-7,269
Increase (Decrease) in Accounts Payable and Accrued Liabilities	$10,723	$-6,800	$6,277	$39,671
Increase (Decrease) in Other Operating Liabilities	$28,701	$10,979	$-955	$-6,846
Lessor, Operating Lease, Payment to be Received, Year One	$1,271,885	$1,290,179	$1,247,189	$1,247,189
Lessor, Operating Lease, Payment to be Received, Year Two	$1,207,370	$1,268,356	$1,244,027	$1,244,027
Lessor, Operating Lease, Payment to be Received, Year Three	$1,168,555	$1,169,119	$1,250,190	$1,250,190
Lessor, Operating Lease, Payment to be Received, Year Four	$1,061,307	$1,074,024	$1,151,259	$1,151,259
Lessor, Operating Lease, Payment to be Received, Year Five	$962,067	$958,233	$1,054,372	$1,054,372
Lessor, Operating Lease, Payment to be Received, after Year Five	$6,254,989	$6,399,782	$8,022,048	$8,022,048

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Import this data to Google Sheets with:

=jivedata("VNO","financials")

Full statements spill as a table. For one cell: =jivedata("VNO","Revenue") or =jivedata("VNO","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.