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Vornado Realty Lp (1040765) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Vornado Realty Lp

CIK: 1040765

EXHIBIT 99.1

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Vornado Announces Certain Items to be Included in its Third Quarter
Financial Results

October 14, 2019 09:00 AM Eastern Standard Time

NEW YORK…..Vornado Realty Trust (NYSE: VNO) today announced that its financial results for the three months ended September 30, 2019 will include the items listed in the table below, resulting in an increase in net income attributable to common shareholders ("net income") of $1.42 per diluted share and an increase in FFO attributable to common shareholders plus assumed conversions ("FFO") of $0.57 per diluted share.
For the Three Months Ended September 30, 2019
(Amounts in thousands, except per share amounts)Net IncomeFFO
AmountPer ShareAmountPer Share
Income:
Net gains on sales of real estate, primarily our 25% interest in 330 Madison Avenue
$178,769  $0.88  $—  $—  
After-tax net gain on sale of 220 Central Park South condominium units
109,035  0.54  109,035  0.54  
Other, net
1,391  —  6,684  0.03  
 $289,195  $1.42  $115,719  $0.57  
The above items will be excluded from "net income, as adjusted" and "FFO, as adjusted."
The above amounts are preliminary estimates. There can be no assurance that Vornado’s final results will not differ from these preliminary estimates as a result of quarter-end closing procedures, review procedures, or review adjustments, and any such changes could be material.
CONTACT:
JOSEPH MACNOW
(212) 894-7000
_____________________________
FFO is computed in accordance with the definition adopted by the Board of Governors of NAREIT. NAREIT defines FFO as GAAP net income or loss adjusted to exclude net gains from sales of depreciable real estate assets, real estate impairment losses, depreciation and amortization expense from real estate assets and other specified items, including the pro rata share of such adjustments of unconsolidated subsidiaries. FFO and FFO per diluted share are non-GAAP financial measures used by management, investors and analysts to facilitate meaningful comparisons of operating performance between periods and among our peers because it excludes the effect of real estate depreciation and amortization and net gains on sales, which are based on historical costs and implicitly assume that the value of real estate diminishes predictably over time, rather than fluctuating based on existing market conditions. FFO does not represent cash generated from operating activities and is not necessarily indicative of cash available to fund cash requirements and should not be considered as an alternative to net income as a performance measure or cash flow as a liquidity measure. FFO may not be comparable to similarly titled measures employed by other companies. In addition to FFO, we also disclose FFO, as adjusted. Although this non-GAAP measure clearly differs from NAREIT’s definition of FFO, we believe it provides a meaningful presentation of operating performance.
Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2018.  Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.

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The following information was filed by Vornado Realty Lp on Tuesday, October 15, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parentheticals)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited) (Parentheticals)
Consolidated Statements Of Changes In Equity (Unaudited)
Consolidated Statements Of Changes In Equity (Unaudited) - Parenthetical (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Income (Unaudited)
220 Central Park South 220 Cps
220 Central Park South 220 Cps - Narrative (Details)
Basis Of Presentation
Basis Of Presentation (Narrative) (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Narrative) (Details)
Debt (Summary Of Debt) (Details)
Debt (Tables)
Dispositions
Dispositions - 3040 M Street (Details)
Fair Value Measurements
Fair Value Measurements (Carrying Amounts And Fair Value Of Financial Instruments) (Details)
Fair Value Measurements (Changes In The Fair Value Of Real Estate Fund Investments And Deferred Compensation Plan Assets) (Details)
Fair Value Measurements (Fair Value Measurements On A Nonrecurring Basis) (Details)
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Fair Value Measurements (Unobervable Quantitative Input Ratios) (Details)
Identified Intangible Assets And Liabilities
Identified Intangible Assets And Liabilities (Tables)
Identified Intangible Assets And Liabilities - Narrative (Details)
Identified Intangible Assets And Liabilities - Schedule Of Future Amortization Expense Of Intangible Assets (Details)
Identified Intangible Assets And Liabilities - Schedule Of Identified Intangible Assets And Intangible Liabilities (Details)
Income Per Share/Income Per Class A Unit
Income Per Share/Income Per Class A Unit (Details)
Income Per Share/Income Per Class A Unit (Narrative) (Details)
Income Per Share/Income Per Class A Unit (Tables)
Interest And Debt Expense
Interest And Debt Expense (Details)
Interest And Debt Expense (Tables)
Interest And Debt Expense - Footnote (Details)
Interest And Other Investment Income, Net
Interest And Other Investment Income, Net (Details)
Interest And Other Investment Income, Net (Tables)
Investments In Partially Owned Entities
Investments In Partially Owned Entities (330 Madison Avenue) (Details)
Investments In Partially Owned Entities (512 West 22Nd Street) (Details)
Investments In Partially Owned Entities (61 Ninth Avenue) (Details)
Investments In Partially Owned Entities (825 Seventh Avenue) (Details)
Investments In Partially Owned Entities (Alexander's Inc.) (Details)
Investments In Partially Owned Entities (Summary Of Income (Loss) ) (Details)
Investments In Partially Owned Entities (Summary Of Investments) (Details)
Investments In Partially Owned Entities (Tables)
Investments In Partially Owned Entities (Toys R Us) (Details)
Investments In Partially Owned Entities (Urban Edge Properties) (Details)
Investments In Partially Owned Entities - Fifth Avenue And Times Square Jv (Details)
Investments In Partially Owned Entities - Related Party Transactions (Details)
Leases
Leases (Tables)
Leases - Components Of Fixed And Variable Lease Revenues (Details)
Leases - Lessee, Operating Lease, Liability, Maturity (Details)
Leases - Lessor, Operating Lease, Payments To Be Received (Details)
Leases - Narrative (Details)
Leases - Schedule Of Amounts Included In The Measurement Of Lease Liability (Details)
Leases - Schedule Of Components Of Rent Expense (Details)
Leases - Schedule Of Future Minimum Lease Payments (Details)
Marketable Securities
Marketable Securities (Marketable Securities Portfolio) (Details)
Marketable Securities (Narrative) (Details)
Marketable Securities (Tables)
Organization
Organization (Narrative) (Details)
Real Estate Fund Investments
Real Estate Fund Investments (Income From The Fund And The Co-Investment) (Details)
Real Estate Fund Investments (Narrative) (Details)
Real Estate Fund Investments (Tables)
Recently Issued Accounting Literature
Recently Issued Accounting Literature (Narrative) (Details)
Recently Issued Accounting Literature (Policies)
Redeemable Noncontrolling Interests/Redeemable Partnership Units
Redeemable Noncontrolling Interests/Redeemable Partnership Units (Activity Of Redeemable Noncontrolling Interests) (Details)
Redeemable Noncontrolling Interests/Redeemable Partnership Units (Narrative) (Details)
Redeemable Noncontrolling Interests/Redeemable Partnership Units (Tables)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Revenues By Segment (Details)
Segment Information
Segment Information (Summary Of Net Income And Ebitda Reconciliation By Segment) (Details)
Segment Information (Tables)
Segment Information - Summary Of Noi By Segment (Details)
Shareholders' Equity/Partners' Capital
Shareholders' Equity/Partners' Capital (Tables)
Shareholders' Equity/Partners' Capital - Aoci By Component (Details)
Shareholders' Equity/Partners' Capital - Schedule Of Dividends (Details)
Stock-Based Compensation
Stock-Based Compensation (Narrative) (Details)
Transaction Related Costs, Impairment Losses And Other
Transaction Related Costs, Impairment Losses And Other (Tables)
Transaction Related Costs, Impairment Losses And Other - Narrative (Details)
Transaction Related Costs, Impairment Losses And Other - Schedule Of Transaction Related Costs, Impairment Losses And Other (Details)
Variable Interest Entities
Variable Interest Entities - Narrative (Details)
CIK: 1040765
Form Type: 10-Q Quarterly Report
Accession Number: 0000899689-19-000072
Submitted to the SEC: Mon Oct 28 2019 4:18:41 PM EST
Accepted by the SEC: Mon Oct 28 2019
Period: Monday, September 30, 2019
Industry: Real Estate Investment Trusts

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