2013 Q4 Form 10-K Financial Statement

#000089968915000006 Filed on February 17, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $673.3M $669.0M $681.7M
YoY Change -1.95% -4.57% 1.14%
Cost Of Revenue $247.4M $265.0M $273.6M
YoY Change -22.1% -20.16% -7.47%
Gross Profit $363.3M $404.0M $397.2M
YoY Change -2.29% 8.87% 4.58%
Gross Profit Margin 53.96% 60.39% 58.27%
Selling, General & Admin $50.40M $44.20M $50.30M
YoY Change -2.89% -8.87% 7.48%
% of Gross Profit 13.87% 10.94% 12.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $89.90M $129.6M $140.7M
YoY Change -35.28% -2.85% 0.29%
% of Gross Profit 24.75% 32.08% 35.42%
Operating Expenses $171.5M $434.1M $469.4M
YoY Change -5.25% -13.81% -1.22%
Operating Profit $191.8M $234.9M $216.5M
YoY Change 0.52% 17.81% 6.74%
Interest Expense -$411.2M -$164.9M -$178.8M
YoY Change -385.75% 65.73% -3.51%
% of Operating Profit -214.39% -70.21% -82.6%
Other Income/Expense, Net $5.500M $1.898M $1.881M
YoY Change -81.61% -42.48% -67.0%
Pretax Income -$198.1M $110.2M $116.2M
YoY Change -625.46% 1.35% 142.9%
Income Tax -$12.60M $2.222M $2.900M
% Of Pretax Income 2.02% 2.5%
Net Earnings -$48.50M $103.4M $158.2M
YoY Change -156.33% -57.16% 313.07%
Net Earnings / Revenue -7.2% 15.45% 23.21%
Basic Earnings Per Share -$0.37 $0.44 $0.78
Diluted Earnings Per Share -$0.37 $0.44 $0.78
COMMON SHARES
Basic Shares Outstanding 187.0M shares 186.9M shares
Diluted Shares Outstanding 187.7M shares 187.7M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $775.2M $1.083B $782.0M
YoY Change -42.94% 13.88% -16.63%
Cash & Equivalents $583.3M $872.3M $781.7M
Short-Term Investments $191.9M $210.6M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $911.0M $936.0M $931.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.494B $1.808B $1.713B
YoY Change -21.94% 28.87% 21.66%
LONG-TERM ASSETS
Property, Plant & Equipment $14.12B $14.43B $14.39B
YoY Change -6.88% 3.41% 2.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.109B $2.395B $2.474B
YoY Change -21.98% -15.58% -11.2%
Other Assets $1.541B $749.0M $788.0M
YoY Change 22.3% -43.21% -1.13%
Total Long-Term Assets $18.52B $18.47B $18.62B
YoY Change -8.07% -2.78% 0.13%
TOTAL ASSETS
Total Short-Term Assets $1.494B $1.808B $1.713B
Total Long-Term Assets $18.52B $18.47B $18.62B
Total Assets $20.02B $20.28B $20.33B
YoY Change -9.28% -0.6% 1.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $422.0M $443.0M $393.0M
YoY Change -12.99% 0.0% -8.82%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $422.0M $443.0M $393.0M
YoY Change -12.99% 0.0% -8.82%
LONG-TERM LIABILITIES
Long-Term Debt $9.979B $10.00B $10.03B
YoY Change -10.32% 1.94% -1.89%
Other Long-Term Liabilities $1.097B $1.037B $1.038B
YoY Change -30.96% -28.24% 25.36%
Total Long-Term Liabilities $11.08B $11.04B $11.06B
YoY Change -12.9% -1.94% 0.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $422.0M $443.0M $393.0M
Total Long-Term Liabilities $11.08B $11.04B $11.06B
Total Liabilities $11.50B $11.50B $13.20B
YoY Change -13.0% -1.85% 14.82%
SHAREHOLDERS EQUITY
Retained Earnings -$1.735B
YoY Change 10.27%
Common Stock $7.469M
YoY Change 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.765B $7.024B $7.136B
YoY Change
Total Liabilities & Shareholders Equity $20.10B $20.28B $20.33B
YoY Change -8.92% -0.6% 1.65%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income -$48.50M $103.4M $158.2M
YoY Change -156.33% -57.16% 313.07%
Depreciation, Depletion And Amortization $89.90M $129.6M $140.7M
YoY Change -35.28% -2.85% 0.29%
Cash From Operating Activities $251.2M $344.8M $29.90M
YoY Change -20.1% 39.76% -169.21%
INVESTING ACTIVITIES
Capital Expenditures -$528.7M -$141.9M -$159.8M
YoY Change -26.43% -29.79% 217.06%
Acquisitions
YoY Change
Other Investing Activities $230.4M $91.60M $702.8M
YoY Change 444.68% 40.49% 1328.46%
Cash From Investing Activities -$298.3M -$50.30M $543.0M
YoY Change -55.89% -63.26% -45350.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -241.9M -203.9M -377.0M
YoY Change -128.25% 76.69% 282.74%
NET CHANGE
Cash From Operating Activities 251.2M 344.8M 29.90M
Cash From Investing Activities -298.3M -50.30M 543.0M
Cash From Financing Activities -241.9M -203.9M -377.0M
Net Change In Cash -289.0M 90.60M 195.9M
YoY Change -158.45% -1717.86% -237.09%
FREE CASH FLOW
Cash From Operating Activities $251.2M $344.8M $29.90M
Capital Expenditures -$528.7M -$141.9M -$159.8M
Free Cash Flow $779.9M $486.7M $189.7M
YoY Change -24.5% 8.44% 2534.72%

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CY2014 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
145497000 USD
CY2013 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
94065000 USD
CY2012 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
70574000 USD
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ComprehensiveIncomeNetOfTax
524585000 USD
CY2013 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
566454000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
886582000 USD
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14465000 USD
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0 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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42404000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
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0 USD
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142281000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
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224937000 USD
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CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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3582000 USD
CY2012 vno Other Comprehensive Income Loss Other Net Of Tax
OtherComprehensiveIncomeLossOtherNetOfTax
329000 USD
CY2013 vno Other Comprehensive Income Loss Other Net Of Tax
OtherComprehensiveIncomeLossOtherNetOfTax
533000 USD
CY2014 vno Other Comprehensive Income Loss Other Net Of Tax
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0 USD
CY2012 vno Our Share Of Partially Owned Entities Oci Adjustments
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-31758000 USD
CY2014 us-gaap Dividends Preferred Stock
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81464000 USD
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CY2014 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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1804000 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation
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5512000 USD
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10410000 USD
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1323000 USD
CY2014 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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0 USD
CY2014 vno Transfer Of Noncontrolling Interest
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33028000 USD
CY2013 us-gaap Dividends Common Stock
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545913000 USD
CY2013 us-gaap Dividends Preferred Stock
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82807000 USD
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25317000 USD
CY2013 us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
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5808000 USD
CY2013 us-gaap Stockholders Equity Other
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6830000 USD
CY2013 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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1851000 USD
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0 USD
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5296000 USD
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165427000 USD
CY2013 us-gaap Noncontrolling Interest Increase From Business Combination
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16799000 USD
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11461000 USD
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699318000 USD
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DividendsPreferredStock
76937000 USD
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89762000 USD
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13054000 USD
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4340000 USD
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-52117000 USD
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0 USD
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2307000 USD
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5124000 USD
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7508447000 USD
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583408000 USD
CY2013 us-gaap Depreciation Depletion And Amortization
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561998000 USD
CY2012 us-gaap Depreciation Depletion And Amortization
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557888000 USD
CY2014 vno Real Estate Fund Investments
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3392000 USD
CY2013 vno Real Estate Fund Investments
RealEstateFundInvestments
37817000 USD
CY2012 vno Real Estate Fund Investments
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262537000 USD
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8282000 USD
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23271000 USD
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123435000 USD
CY2013 us-gaap Increase Decrease In Other Operating Assets
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50856000 USD
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46573000 USD
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3125000 USD
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-12576000 USD
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9955000 USD
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1135310000 USD
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1040789000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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825049000 USD
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507192000 USD
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414502000 USD
CY2012 us-gaap Gain Loss On Sale Of Properties
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245799000 USD
CY2014 us-gaap Equity Method Investment Dividends Or Distributions
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96286000 USD
CY2013 us-gaap Equity Method Investment Dividends Or Distributions
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54030000 USD
CY2012 us-gaap Equity Method Investment Dividends Or Distributions
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226172000 USD
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0 USD
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120639000 USD
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544187000 USD
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469417000 USD
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156873000 USD
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279206000 USD
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260343000 USD
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205652000 USD
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230300000 USD
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134994000 USD
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378709000 USD
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-99464000 USD
CY2013 us-gaap Increase Decrease In Restricted Cash
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26892000 USD
CY2012 us-gaap Increase Decrease In Restricted Cash
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75138000 USD
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388776000 USD
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1027608000 USD
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445683000 USD
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30175000 USD
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390000 USD
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94094000 USD
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96913000 USD
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50569000 USD
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38483000 USD
CY2014 vno Distributions Of Capital From Partially Owned Entities
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25943000 USD
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44628000 USD
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133977000 USD
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31105000 USD
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191330000 USD
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CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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21595000 USD
CY2012 vno Return Of Derivative Collateral
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134950000 USD
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0 USD
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211354000 USD
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193417000 USD
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0 USD
CY2012 us-gaap Repayment Of Notes Receivable From Related Parties
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CY2014 vno Net Realized And Unrealized Gain On Real Estate Fund Investments
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150139000 USD
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CY2014 vno Recognition Of Deferred Revenue Adjusted For Discontinued Operations
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46786000 USD
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85771000 USD
CY2012 vno Net Realized And Unrealized Gain On Real Estate Fund Investments
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55361000 USD
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2207000 USD
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8786000 USD
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10549000 USD
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CY2012 vno Recognition Of Deferred Revenue Adjusted For Discontinued Operations
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54359000 USD
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186079000 USD
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0 USD
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0 USD
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26518000 USD
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37170000 USD
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56664000 USD
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ReturnOfCapitalFromRealEstateFundInvestments
215676000 USD
CY2012 vno Return Of Capital From Real Estate Fund Investments
ReturnOfCapitalFromRealEstateFundInvestments
63762000 USD
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0 USD
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CY2012 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
423126000 USD
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0 USD
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0 USD
CY2012 vno Defeasance Costs
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0 USD
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2428285000 USD
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1312258000 USD
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547831000 USD
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54342000 USD
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615187000 USD
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353766000 USD
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2262245000 USD
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3580100000 USD
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545913000 USD
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3593000000 USD
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2747694000 USD
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170979000 USD
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CY2012 us-gaap Income Taxes Paid
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21709000 USD
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16801000 USD
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213132000 USD
CY2012 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
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243300000 USD
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73976000 USD
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104448000 USD
CY2012 vno Repurchase Of Shares Related To Stock Compensation Arrangements And Related Tax Withholdings
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30168000 USD
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39073000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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606553000 USD
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53139000 USD
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11853000 USD
CY2013 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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290306000 USD
CY2012 vno Real Estate Net Deconsolidated
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0 USD
CY2012 vno Notes And Mortgages Payable Deconsolidated
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0 USD
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342919000 USD
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0 USD
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0 USD
CY2014 vno Notes And Mortgages Payable Deconsolidated
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0 USD
CY2014 vno Real Estate Net Deconsolidated
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0 USD
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0 USD
CY2013 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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0 USD
CY2013 vno Notes And Mortgages Payable Deconsolidated
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322903000 USD
CY2013 vno Real Estate Net Deconsolidated
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852166000 USD
CY2013 us-gaap Transfer Mortgage Payable
TransferMortgagePayable
0 USD
CY2013 vno Seller Financing Related To Property Sales
SellerFinancingRelatedToPropertySales
0 USD
CY2013 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0 USD
CY2014 us-gaap Transfer Mortgage Payable
TransferMortgagePayable
0 USD
CY2014 vno Seller Financing Related To Property Sales
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0 USD
CY2014 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0 USD
CY2012 us-gaap Transfer Mortgage Payable
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163144000 USD
CY2012 vno Seller Financing Related To Property Sales
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35000000 USD
CY2012 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
240000000 USD
CY2014 vno Capital Lease Asset Acquired
CapitalLeaseAssetAcquired
0 USD
CY2012 vno Capital Lease Asset Acquired
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240000000 USD
CY2012 us-gaap Loans Assumed1
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0 USD
CY2012 vno Marketable Securities Purchased In Connection With Legal Defeasance
MarketableSecuritiesPurchasedInConnectionWithLegalDefeasance
0 USD
CY2012 vno Transfer Of Marketable Securities In Connection With Legal Defeasance Of Mortgage Loan
TransferOfMarketableSecuritiesInConnectionWithLegalDefeasanceOfMortgageLoan
0 USD
CY2012 vno Mortgage Loan Defeasance
MortgageLoanDefeasance
0 USD
CY2012 vno Mortgage And Mezzanine Loan Eliminated
MortgageAndMezzanineLoanEliminated
0 USD
CY2012 vno Transfer Of Equity Interest To Unconsolidated Joint Venture
TransferOfEquityInterestToUnconsolidatedJointVenture
0 USD
CY2012 vno Transfer Of Noncontrolling Interest
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0 USD
CY2012 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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0 USD
CY2014 vno Mortgage Loan Defeasance
MortgageLoanDefeasance
193406000 USD
CY2014 vno Write Off Of Fully Amortized And Depreciated Assets
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121673000 USD
CY2014 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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13620000 USD
CY2014 vno Transfer Of Marketable Securities In Connection With Legal Defeasance Of Mortgage Loan
TransferOfMarketableSecuritiesInConnectionWithLegalDefeasanceOfMortgageLoan
198884000 USD
CY2014 vno Transfer Of Equity Interest To Unconsolidated Joint Venture
TransferOfEquityInterestToUnconsolidatedJointVenture
58564000 USD
CY2014 vno Mortgage And Mezzanine Loan Eliminated
MortgageAndMezzanineLoanEliminated
59375000 USD
CY2013 vno Transfer Of Marketable Securities In Connection With Legal Defeasance Of Mortgage Loan
TransferOfMarketableSecuritiesInConnectionWithLegalDefeasanceOfMortgageLoan
0 USD
CY2013 vno Transfer Of Noncontrolling Interest
TransferOfNoncontrollingInterest
0 USD
CY2013 vno Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
77106000 USD
CY2013 vno Mortgage And Mezzanine Loan Eliminated
MortgageAndMezzanineLoanEliminated
0 USD
CY2013 vno Mortgage Loan Defeasance
MortgageLoanDefeasance
0 USD
CY2013 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1
0 USD
CY2013 vno Transfer Of Equity Interest To Unconsolidated Joint Venture
TransferOfEquityInterestToUnconsolidatedJointVenture
0 USD
CY2012 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
80350000 USD
CY2014 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
100528000 USD
CY2014 us-gaap Nature Of Operations
NatureOfOperations
<p style='margin-top:0pt; margin-bottom:5pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">1. Organization and Business</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;"> Realty Trust (&#8220;</font><font style="font-family:Times New Roman;font-size:10pt;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;">&#8221;) is a fully</font><font style="font-family:Times New Roman;font-size:10pt;">-integrated real estate investment trust (&#8220;REIT&#8221;) and conducts its business through, and substantially all of its interests in properties are held by, </font><font style="font-family:Times New Roman;font-size:10pt;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;"> Realty L.P., a Delaware limited partnership (the &#8220;Operating Partnership&#8221;). Accordingly, </font><font style="font-family:Times New Roman;font-size:10pt;">Vornado's</font><font style="font-family:Times New Roman;font-size:10pt;"> cash flow and ability to pay dividends to its shareholders is dependent upon the cash flow of the Operating Partnership and the ability of its direct and indirect subsidiaries to first satisfy their obligations to creditors. </font><font style="font-family:Times New Roman;font-size:10pt;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;"> is the sole general partner of, and owned approximately </font><font style="font-family:Times New Roman;font-size:10pt;">9</font><font style="font-family:Times New Roman;font-size:10pt;">4.</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">% </font><font style="font-family:Times New Roman;font-size:10pt;">of the common limited partnership interest in the Operating Partnership at December 31, 2014. All references to &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; the &#8220;Company&#8221; and &#8220;</font><font style="font-family:Times New Roman;font-size:10pt;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;">&#8221; refer to </font><font style="font-family:Times New Roman;font-size:10pt;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;"> Realty Trust and its consolidated subsidiaries, including the Operating Partnership. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">On January 15, 2015, we completed the spin-off of substantially all of our retail </font><font style="font-family:Times New Roman;font-size:10pt;">segment </font><font style="font-family:Times New Roman;font-size:10pt;">comprised of 79 strip shopping centers, three malls, a warehouse park and $</font><font style="font-family:Times New Roman;font-size:10pt;">225 million of cash to Urban Edge Properties (&#8220;UE&#8221;) (NYSE: UE). As part of this transaction, we received 5,712,000 UE operating partnership units (5.4% ownership interest). We are providing transition services to UE for an initial period of up to two years, including information technology, human resources, tax and public reporting. UE is providing us with leasing and property management services for (i) the Monmouth Mall, (ii) certain small retail properties which did not fit UE's strategy that we plan to sell, and (iii) our affiliate, Alexander's, Inc. (NYSE: ALX)</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">Rego</font><font style="font-family:Times New Roman;font-size:10pt;"> Park retail assets. Steven Roth, our Chairman and Chief Executive Officer </font><font style="font-family:Times New Roman;font-size:10pt;">is</font><font style="font-family:Times New Roman;font-size:10pt;"> a member of the Board of Trustees of UE. The spin-off distribution was effected by </font><font style="font-family:Times New Roman;font-size:10pt;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;"> distributing one UE common share for every two </font><font style="font-family:Times New Roman;font-size:10pt;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;"> common shares. Beginning in the first quarter of 2015, the historical financial results of UE will be reflected in our consolidated financial statements as discontinued operations for all periods presented. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">W</font><font style="font-family:Times New Roman;font-size:10pt;">e </font><font style="font-family:Times New Roman;font-size:10pt;">currently </font><font style="font-family:Times New Roman;font-size:10pt;">own</font><font style="font-family:Times New Roman;font-size:10pt;"> all or portions of</font><font style="font-family:Times New Roman;font-size:10pt;">:</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;text-decoration:underline;margin-left:0px;">New York</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;text-decoration:underline;">:</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'></p><ul><li style="margin-left:76.5px;list-style:disc;"><font style="font-family:Times New Roman;font-size:10pt;">20</font><font style="font-family:Times New Roman;font-size:10pt;">.</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">million square feet of Manhattan office space in </font><font style="font-family:Times New Roman;font-size:10pt;">3</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;"> properties</font><font style="font-family:Times New Roman;font-size:10pt;">;</font><p><font style="font-family:Times New Roman;font-size:10pt;margin-left:40.5px;"> </font></p></li><li style="margin-left:76.5px;list-style:disc;"><font style="font-family:Times New Roman;font-size:10pt;">2.</font><font style="font-family:Times New Roman;font-size:10pt;">5</font><font style="font-family:Times New Roman;font-size:10pt;"> million square feet of Manhattan street retail space in </font><font style="font-family:Times New Roman;font-size:10pt;">5</font><font style="font-family:Times New Roman;font-size:10pt;">6</font><font style="font-family:Times New Roman;font-size:10pt;"> properties;</font><p>&#160;</p></li><li style="margin-left:76.5px;list-style:disc;"><font style="font-family:Times New Roman;font-size:10pt;">F</font><font style="font-family:Times New Roman;font-size:10pt;">our residential properties containing 1,65</font><font style="font-family:Times New Roman;font-size:10pt;">4</font><font style="font-family:Times New Roman;font-size:10pt;"> units;</font><p>&#160;</p></li><li style="margin-left:76.5px;list-style:disc;"><font style="font-family:Times New Roman;font-size:10pt;">The 1,700 room Hotel Pennsylvania located on Seventh Avenue at 33</font><font style="font-family:Times New Roman;font-size:10pt;">rd</font><font style="font-family:Times New Roman;font-size:10pt;"> Street in the h</font><font style="font-family:Times New Roman;font-size:10pt;">eart of the Penn Plaza district</font><font style="font-family:Times New Roman;font-size:10pt;">;</font><p>&#160;</p></li><li style="margin-left:76.5px;list-style:disc;"><font style="font-family:Times New Roman;font-size:10pt;">A 32.4% interest in Alexander's, Inc. 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CY2014 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
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CY2014 vno Real Estate Fund Textblock
RealEstateFundTextblock
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">3. </font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Vornado</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;"> Capital Partners Real Estate Fund (the &#8220;Fund&#8221;)</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:21.6px;">We are the general partner and investment manager of the Fund, which has an eight-year term and a three-year investment period </font><font style="font-family:Times New Roman;font-size:10pt;">that ended in July 2013. During the investment period, the Fund was our exclusive investment vehicle for all investments that fit within its investment parameters, as defined. </font><font style="font-family:Times New Roman;font-size:10pt;">The Fund is accounted for under the AICPA Investment Company Guide and its investments are reported on its balance sheet at fair value, with changes in value each period recognized in earnings. We consolidate the accounts of the Fund into our consolidated financial statements, retaining the fair value basis of accounting.</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">On June 26, 2014, the Fund sold its 64.7% interest in One Park Avenue to a newly formed joint venture that we and an institutional investor own 55% and 45%, respectively (see Note </font><font style="font-family:Times New Roman;font-size:10pt;">6</font><font style="font-family:Times New Roman;font-size:10pt;"> - </font><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;">Investments in Partially Owned Entities - One Park Avenue)</font><font style="font-family:Times New Roman;font-size:10pt;">. This transaction was based on a property value of $560,000,000. From the inception of this investment through its disposition, the Fund realized a $75,529,000 net gain. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">On August 21, 2014, the Fund and its 50% joint venture partner completed the sale of The Shops at Georgetown Park, a 305,000 square foot retail property, for $272,500,000. From the inception of this investment through its disposition, the Fund realized a $51,124,000 net gain. </font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">On January 20, 201</font><font style="font-family:Times New Roman;font-size:10pt;">5</font><font style="font-family:Times New Roman;font-size:10pt;">, we co-invested with </font><font style="font-family:Times New Roman;font-size:10pt;">the</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">Fund </font><font style="font-family:Times New Roman;font-size:10pt;">and one of the Fund's limited partners </font><font style="font-family:Times New Roman;font-size:10pt;">to </font><font style="font-family:Times New Roman;font-size:10pt;">buy out</font><font style="font-family:Times New Roman;font-size:10pt;"> the Fund's joint venture partner's 57% interest in the </font><font style="font-family:Times New Roman;font-size:10pt;">Crowne</font><font style="font-family:Times New Roman;font-size:10pt;"> Plaza Times Square Hotel.&#160; The purchase price for the 57% interest was approximately $95,000,000</font><font style="font-family:Times New Roman;font-size:10pt;"> (our share $3</font><font style="font-family:Times New Roman;font-size:10pt;">9</font><font style="font-family:Times New Roman;font-size:10pt;">,000,000)</font><font style="font-family:Times New Roman;font-size:10pt;"> which valued the property </font><font style="font-family:Times New Roman;font-size:10pt;">at</font><font style="font-family:Times New Roman;font-size:10pt;"> approximately $480,000,000.</font><font style="font-family:Times New Roman;font-size:10pt;"> The property</font><font style="font-family:Times New Roman;font-size:10pt;"> i</font><font style="font-family:Times New Roman;font-size:10pt;">s encumbered by a newly placed $310,000,000 mortgage loan bearing interest </font><font style="font-family:Times New Roman;font-size:10pt;">at </font><font style="font-family:Times New Roman;font-size:10pt;">LIBOR plus 2.80% and maturing in December 2018 with a one-year extension option. </font><font style="font-family:Times New Roman;font-size:10pt;">Our aggregate ownership interest in the property</font><font style="font-family:Times New Roman;font-size:10pt;"> increased to 33% from 11%.</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:22.5px;">At </font><font style="font-family:Times New Roman;font-size:10pt;">December 31, 201</font><font style="font-family:Times New Roman;font-size:10pt;">4</font><font style="font-family:Times New Roman;font-size:10pt;">, the Fund </font><font style="font-family:Times New Roman;font-size:10pt;">had </font><font style="font-family:Times New Roman;font-size:10pt;">seven</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">investments </font><font style="font-family:Times New Roman;font-size:10pt;">with an aggregate fair value </font><font style="font-family:Times New Roman;font-size:10pt;">of $</font><font style="font-family:Times New Roman;font-size:10pt;">513</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">973</font><font style="font-family:Times New Roman;font-size:10pt;">,000</font><font style="font-family:Times New Roman;font-size:10pt;">, </font><font style="font-family:Times New Roman;font-size:10pt;">or $</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">76</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">899</font><font style="font-family:Times New Roman;font-size:10pt;">,000 </font><font style="font-family:Times New Roman;font-size:10pt;">in excess of cost, and ha</font><font style="font-family:Times New Roman;font-size:10pt;">d</font><font style="font-family:Times New Roman;font-size:10pt;"> remaining unfunded commitments of </font><font style="font-family:Times New Roman;font-size:10pt;">$</font><font style="font-family:Times New Roman;font-size:10pt;">14</font><font style="font-family:Times New Roman;font-size:10pt;">4</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">123</font><font style="font-family:Times New Roman;font-size:10pt;">,000</font><font style="font-family:Times New Roman;font-size:10pt;">, of which our share was </font><font style="font-family:Times New Roman;font-size:10pt;">$</font><font style="font-family:Times New Roman;font-size:10pt;">3</font><font style="font-family:Times New Roman;font-size:10pt;">6</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">031</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">00</font><font style="font-family:Times New Roman;font-size:10pt;">0</font><font style="font-family:Times New Roman;font-size:10pt;">.</font><font style="font-family:Times New Roman;font-size:10pt;"> At December 31, 201</font><font style="font-family:Times New Roman;font-size:10pt;">3</font><font style="font-family:Times New Roman;font-size:10pt;">, the Fund had </font><font style="font-family:Times New Roman;font-size:10pt;">nine</font><font style="font-family:Times New Roman;font-size:10pt;"> investments with an aggregate fair value of $</font><font style="font-family:Times New Roman;font-size:10pt;">6</font><font style="font-family:Times New Roman;font-size:10pt;">67,</font><font style="font-family:Times New Roman;font-size:10pt;">7</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">,000.</font></p><p style='margin-top:0pt; 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text-align:left;border-color:#000000;min-width:15px;">&#160;</td><td style="width: 81px; text-align:left;border-color:#000000;min-width:81px;">&#160;</td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;">&#160;</td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;">&#160;</td><td style="width: 81px; text-align:left;border-color:#000000;min-width:81px;">&#160;</td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;">&#160;</td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;">&#160;</td><td style="width: 81px; text-align:left;border-color:#000000;min-width:81px;">&#160;</td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;">&#160;</td></tr></table></div>
CY2014 vno Income From Real Estate Fund Attributable To Parent Company
IncomeFromRealEstateFundAttributableToParentCompany
70306000 USD
CY2013 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
9608000 USD
CY2012 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
20336000 USD
CY2014 vno Estimated Taxable Income Net
EstimatedTaxableIncomeNet
511858000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
9566000 USD
CY2014 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
71960000 USD
CY2014 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-1260000 USD
CY2014 vno Income Tax Reconciliation Sale Of Real Estate
IncomeTaxReconciliationSaleOfRealEstate
-477061000 USD
CY2014 vno Income Tax Reconciliation Derivative Gain
IncomeTaxReconciliationDerivativeGain
0 USD
CY2014 vno Income Tax Reconciliation Straight Line Rent Adjustment
IncomeTaxReconciliationStraightLineRentAdjustment
-77526000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
IncomeTaxReconciliationNondeductibleExpenseDepreciationAndAmortization
-219403000 USD
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-4884000 USD
CY2013 vno Income Tax Reconciliation Straight Line Rent Adjustment
IncomeTaxReconciliationStraightLineRentAdjustment
-64811000 USD
CY2013 vno Income Tax Reconciliation Derivative Gain
IncomeTaxReconciliationDerivativeGain
31578000 USD
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-4608000 USD
CY2013 us-gaap Income Tax Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary
IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary
339376000 USD
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Depreciation And Amortization
IncomeTaxReconciliationNondeductibleExpenseDepreciationAndAmortization
-155401000 USD
CY2013 vno Income Tax Reconciliation Sale Of Real Estate
IncomeTaxReconciliationSaleOfRealEstate
-324936000 USD
CY2012 vno Income Tax Reconciliation Sale Of Real Estate
IncomeTaxReconciliationSaleOfRealEstate
-123905000 USD
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
28701000 USD
CY2012 vno Income From Real Estate Fund Attributable To Parent Company
IncomeFromRealEstateFundAttributableToParentCompany
24604000 USD
CY2014Q4 vno Unfunded Commitments Of Fund
UnfundedCommitmentsOfFund
36031000 USD
CY2014Q4 us-gaap Available For Sale Equity Securities Amortized Cost Basis
AvailableForSaleEquitySecuritiesAmortizedCostBasis
72549000 USD
CY2014Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainLossBeforeTax
133774000 USD
CY2013Q4 us-gaap Available For Sale Equity Securities Amortized Cost Basis
AvailableForSaleEquitySecuritiesAmortizedCostBasis
72608000 USD
CY2013Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainLossBeforeTax
119309000 USD
CY2012 vno Equity Method Investment Summarized Financial Information Gain Loss On Sale Of Real Estate Assets
EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleOfRealEstateAssets
600000000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
21389000000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
17986000000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Minority Interest
EquityMethodInvestmentSummarizedFinancialInformationMinorityInterest
104000000 USD
CY2014Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
3299000000 USD
CY2014 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
13620000000 USD
CY2014 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
-434000000 USD
CY2013Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
17982000000 USD
CY2013Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
3695000000 USD
CY2013Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
21773000000 USD
CY2013Q4 us-gaap Equity Method Investment Summarized Financial Information Minority Interest
EquityMethodInvestmentSummarizedFinancialInformationMinorityInterest
96000000 USD
CY2012 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
15119000000 USD
CY2012 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
1091000000 USD
CY2014Q4 vno Equity Method Investment Pro Rata Share Debt Of Partially Owned Entities
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CY2013Q4 vno Equity Method Investment Pro Rata Share Debt Of Partially Owned Entities
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CY2014 vno Mezzanine Loans Receivable Maturity Date Range Start
MezzanineLoansReceivableMaturityDateRangeStart
April 2015
CY2014 vno Mezzanine Loans Receivable Maturity Date Range End
MezzanineLoansReceivableMaturityDateRangeEnd
May 2016
CY2013 vno Mezzanine Loan Receivable Weighted Average Interest Rate
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0.11 pure
CY2014 vno Mezzanine Loan Receivable Weighted Average Interest Rate
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CY2013 vno Other Net Attributable To Redeemable Noncontrolling Interest
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CY2014 vno Other Net Attributable To Redeemable Noncontrolling Interest
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30690000 USD
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CY2013 vno Disposal Group Including Discontinued Operation Total Expenses
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50402000 USD
CY2013 vno Disposal Group Including Discontinued Operation Litigation Loss Accruals Impairments
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18170000 USD
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CY2014 vno Disposal Group Including Discontinued Operation Total Expenses
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36424000 USD
CY2014 vno Operating Income From Discontinued Operations
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CY2014 vno Disposal Group Including Discontinued Operation Litigation Loss Accruals Impairments
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CY2012 vno Disposal Group Including Discontinued Operation Total Expenses
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CY2012 vno Operating Income From Discontinued Operations
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CY2012 vno Disposal Group Including Discontinued Operation Litigation Loss Accruals Impairments
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CY2013 us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
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CY2012 us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
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245799000 USD
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CY2014Q4 vno Finite Lived Intangible Liability Gross
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CY2014Q4 vno Finite Lived Intangible Liability Accumulated Amortization
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CY2013Q4 vno Finite Lived Intangible Liability Gross
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CY2013Q4 vno Finite Lived Intangible Liability Accumulated Amortization
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CY2014 us-gaap Signage Revenue
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CY2014Q4 vno Collateral Property Net Carrying Value
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CY2013 vno Cumulative Redeemable Preferred Units Redemption Amount
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CY2013 us-gaap Allocated Share Based Compensation Expense
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CY2012 vno Tenant Cleaning Fees
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CY2012 vno Lease Termination Fees
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CY2014 vno Tenant Cleaning Fees
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CY2013 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2013 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2014 us-gaap Investment Income Dividend
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CY2014 vno Interest On Notes Receivable
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CY2014 vno Gain Loss On Investment In Deferred Compensation Plan
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CY2012 vno Interest On Notes Receivable
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CY2012 vno Gain Loss On Investment In Deferred Compensation Plan
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CY2012 vno Numerator For Basic Income Per Share
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CY2014 vno Capitalized Interest And Debt Expenses
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CY2014 vno Number Of Tenants Contributing Ten Percent Or More Of Total Revenues
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CY2013 vno Number Of Tenants Contributing Ten Percent Or More Of Total Revenues
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CY2012 vno Number Of Tenants Contributing Ten Percent Or More Of Total Revenues
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CY2013 us-gaap Operating Leases Rent Expense Minimum Rentals
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CY2014 vno Multiemployer Plans Disclosure Textblock
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<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">21</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">.</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">M</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">ultiemployer Benefit Plans</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">Our subsidiaries </font><font style="font-family:Times New Roman;font-size:10pt;">make contributions to certain multiemployer defined benefit plans (&#8220;Multiemployer Pension Plans&#8221;) and health plans (&#8220;Multiemployer Health Plans&#8221;) for our union represented employees, pursuant to the respective collective bargaining agreements.</font></p><p style='margin-top:0pt; 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margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">In the years ended December 31, 201</font><font style="font-family:Times New Roman;font-size:10pt;">4</font><font style="font-family:Times New Roman;font-size:10pt;">, 201</font><font style="font-family:Times New Roman;font-size:10pt;">3</font><font style="font-family:Times New Roman;font-size:10pt;"> and 20</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">2</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">our subsidiaries</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">contributed $</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">431</font><font style="font-family:Times New Roman;font-size:10pt;">,000</font><font style="font-family:Times New Roman;font-size:10pt;">, $</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">223</font><font style="font-family:Times New Roman;font-size:10pt;">,000</font><font style="font-family:Times New Roman;font-size:10pt;"> and $</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">68</font><font style="font-family:Times New Roman;font-size:10pt;">3</font><font style="font-family:Times New Roman;font-size:10pt;">,000</font><font style="font-family:Times New Roman;font-size:10pt;">, respectively, towards Multiemployer Pension Plans, which is included as a component of &#8220;operating&#8221; expenses on our consolidated </font><font style="font-family:Times New Roman;font-size:10pt;">statements of income. Our </font><font style="font-family:Times New Roman;font-size:10pt;">subsidiaries' </font><font style="font-family:Times New Roman;font-size:10pt;">contributions did not represent </font><font style="font-family:Times New Roman;font-size:10pt;">more than </font><font style="font-family:Times New Roman;font-size:10pt;">5</font><font style="font-family:Times New Roman;font-size:10pt;">% of total </font><font style="font-family:Times New Roman;font-size:10pt;">employer contributions in any </font><font style="font-family:Times New Roman;font-size:10pt;">of these</font><font style="font-family:Times New Roman;font-size:10pt;"> plan</font><font style="font-family:Times New Roman;font-size:10pt;">s</font><font style="font-family:Times New Roman;font-size:10pt;"> for the years ended December 31, 201</font><font style="font-family:Times New Roman;font-size:10pt;">4</font><font style="font-family:Times New Roman;font-size:10pt;">, 201</font><font style="font-family:Times New Roman;font-size:10pt;">3</font><font style="font-family:Times New Roman;font-size:10pt;"> and 20</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">2</font><font style="font-family:Times New Roman;font-size:10pt;">.</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;margin-left:0px;">Multiemployer Health Plans</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:18px;">Multiemployer Health Plans in which </font><font style="font-family:Times New Roman;font-size:10pt;">our subsidiaries</font><font style="font-family:Times New Roman;font-size:10pt;"> participate provide health benefits to eligible active and retired employees. In the years ended December 31, 201</font><font style="font-family:Times New Roman;font-size:10pt;">4</font><font style="font-family:Times New Roman;font-size:10pt;">, 20</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">3</font><font style="font-family:Times New Roman;font-size:10pt;"> and 20</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">2</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">our subsidiaries </font><font style="font-family:Times New Roman;font-size:10pt;">contributed $</font><font style="font-family:Times New Roman;font-size:10pt;">2</font><font style="font-family:Times New Roman;font-size:10pt;">9</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">073</font><font style="font-family:Times New Roman;font-size:10pt;">,000</font><font style="font-family:Times New Roman;font-size:10pt;">, $</font><font style="font-family:Times New Roman;font-size:10pt;">2</font><font style="font-family:Times New Roman;font-size:10pt;">6</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">262</font><font style="font-family:Times New Roman;font-size:10pt;">,000</font><font style="font-family:Times New Roman;font-size:10pt;"> and $</font><font style="font-family:Times New Roman;font-size:10pt;">2</font><font style="font-family:Times New Roman;font-size:10pt;">6</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;">7</font><font style="font-family:Times New Roman;font-size:10pt;">59</font><font style="font-family:Times New Roman;font-size:10pt;">,000</font><font style="font-family:Times New Roman;font-size:10pt;">, respectively, towards the</font><font style="font-family:Times New Roman;font-size:10pt;">se</font><font style="font-family:Times New Roman;font-size:10pt;"> plans, which </font><font style="font-family:Times New Roman;font-size:10pt;">is</font><font style="font-family:Times New Roman;font-size:10pt;"> included as a component of &#8220;operating&#8221; expenses on our consolidated statements of </font><font style="font-family:Times New Roman;font-size:10pt;">income.</font></p><p style='margin-top:0pt; margin-bottom:0pt'>&#160;</p>
CY2014Q4 vno Guarantees And Master Leases
GuaranteesAndMasterLeases
359000000 USD
CY2014Q4 us-gaap Letters Of Credit Outstanding Amount
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CY2014Q4 vno Commitment To Fund Additional Capital To Partially Owned Entities
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104000000 USD
CY2014Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
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CY2014Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
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CY2014Q2 us-gaap Real Estate Revenue Net
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CY2014Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
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CY2014Q4 us-gaap Earnings Per Share Basic
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CY2014Q3 us-gaap Earnings Per Share Basic
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CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2013 vno Income Tax Expense Including Partially Owned Entities
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CY2013 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2012Q4 us-gaap Real Estate Investment Property At Cost
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CY2012Q4 us-gaap Real Estate Accumulated Depreciation
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CY2011Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
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CY2013 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
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CY2013 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
93194000 USD
CY2014 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
461689000 USD
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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EarningsPerShareDiluted
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EarningsPerShareDiluted
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CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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513238000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
131159000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
76642000 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
62349000 USD
CY2014 vno Interest And Debt Expense Including Partially Owned Entities
InterestAndDebtExpenseIncludingPartiallyOwnedEntities
654398000 USD
CY2014 vno Depreciation And Amortization Including Partially Owned Entities
DepreciationAndAmortizationIncludingPartiallyOwnedEntities
685973000 USD
CY2014 vno Income Tax Expense Including Partially Owned Entities
IncomeTaxExpenseIncludingPartiallyOwnedEntities
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CY2014 vno Earnings Before Interest Taxes Depreciation And Amortization
EarningsBeforeInterestTaxesDepreciationAndAmortization
2229471000 USD
CY2014 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
144174000 USD
CY2013 vno Interest And Debt Expense Including Partially Owned Entities
InterestAndDebtExpenseIncludingPartiallyOwnedEntities
758781000 USD
CY2013 vno Depreciation And Amortization Including Partially Owned Entities
DepreciationAndAmortizationIncludingPartiallyOwnedEntities
732757000 USD
CY2012Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
1704297000 USD
CY2012Q4 us-gaap Assets
Assets
22065049000 USD
CY2012 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
77281000 USD
CY2012 vno Interest And Debt Expense Including Partially Owned Entities
InterestAndDebtExpenseIncludingPartiallyOwnedEntities
760523000 USD
CY2012 vno Depreciation And Amortization Including Partially Owned Entities
DepreciationAndAmortizationIncludingPartiallyOwnedEntities
735293000 USD
CY2012 vno Income Tax Expense Including Partially Owned Entities
IncomeTaxExpenseIncludingPartiallyOwnedEntities
7026000 USD
CY2012 vno Earnings Before Interest Taxes Depreciation And Amortization
EarningsBeforeInterestTaxesDepreciationAndAmortization
2120102000 USD
CY2014 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P40Y
CY2014 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
147243000 USD
CY2012 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
427189000 USD
CY2012 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
203366000 USD
CY2011Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
15444754000 USD
CY2013 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
1093109000 USD
CY2012 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
209248000 USD
CY2014 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
129271000 USD
CY2013Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
3296717000 USD
CY2014Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
3629135000 USD
CY2014Q4 vno Real Estate Before Real Estate Sold And Written Off
RealEstateBeforeRealEstateSoldAndWrittenOff
18992635000 USD
CY2014 vno Real Estate Accumulated Depreciation Before Accumulated Depreciation On Asset Sold And Written Off
RealEstateAccumulatedDepreciationBeforeAccumulatedDepreciationOnAssetSoldAndWrittenOff
3758406000 USD
CY2013 vno Real Estate Accumulated Depreciation Before Accumulated Depreciation On Asset Sold And Written Off
RealEstateAccumulatedDepreciationBeforeAccumulatedDepreciationOnAssetSoldAndWrittenOff
3389911000 USD
CY2013Q4 vno Real Estate Before Real Estate Sold And Written Off
RealEstateBeforeRealEstateSoldAndWrittenOff
18512055000 USD
CY2012Q4 vno Real Estate Before Real Estate Sold And Written Off
RealEstateBeforeRealEstateSoldAndWrittenOff
17574781000 USD
CY2012 vno Real Estate Accumulated Depreciation Before Accumulated Depreciation On Asset Sold And Written Off
RealEstateAccumulatedDepreciationBeforeAccumulatedDepreciationOnAssetSoldAndWrittenOff
3169433000 USD

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