Last10K.com

Vornado Realty Lp (1040765) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Vornado Realty Lp

CIK: 1040765
EXHIBIT 99.1


vnortlogoblack2a23.jpg

Vornado Announces Fourth Quarter 2019 Financial Results

February 18, 2020 04:30 PM Eastern Standard Time

NEW YORK.......VORNADO REALTY TRUST (NYSE: VNO) reported today:

Quarter Ended December 31, 2019 Financial Results
NET INCOME attributable to common shareholders for the quarter ended December 31, 2019 was $193,217,000, or $1.01 per diluted share, compared to $100,494,000, or $0.53 per diluted share, for the prior year's quarter. Adjusting for the items that impact period-to-period comparability listed in the table on the following page, net income attributable to common shareholders, as adjusted (non-GAAP) for the quarters ended December 31, 2019 and 2018 was $56,381,000 and $49,436,000, or $0.29 and $0.26 per diluted share, respectively.
FUNDS FROM OPERATIONS ("FFO") attributable to common shareholders plus assumed conversions (non-GAAP) for the quarter ended December 31, 2019 was $311,876,000, or $1.63 per diluted share, compared to $210,100,000, or $1.10 per diluted share, for the prior year's quarter.  Adjusting for the items that impact period-to-period comparability listed in the table on page 3, FFO attributable to common shareholders plus assumed conversions, as adjusted (non-GAAP) for the quarters ended December 31, 2019 and 2018 was $171,030,000 and $169,874,000, or $0.89 and $0.89 per diluted share, respectively.
Year Ended December 31, 2019 Financial Results
NET INCOME attributable to common shareholders for the year ended December 31, 2019 was $3.098 billion, or $16.21 per diluted share, compared to $384,832,000, or $2.01 per diluted share, for the year ended December 31, 2018. Adjusting for the items that impact period-to-period comparability listed in the table on the following page, net income attributable to common shareholders, as adjusted (non-GAAP) for the years ended December 31, 2019 and 2018 was $176,716,000 and $238,700,000, or $0.92 and $1.25 per diluted share, respectively.
FFO attributable to common shareholders plus assumed conversions (non-GAAP) for the year ended December 31, 2019 was $1.003 billion, or $5.25 per diluted share, compared to $729,740,000, or $3.82 per diluted share, for the year ended December 31, 2018. Adjusting for the items that impact period-to-period comparability listed in the table on page 3, FFO attributable to common shareholders plus assumed conversions, as adjusted (non-GAAP) for the years ended December 31, 2019 and 2018 was $666,207,000 and $713,488,000, or $3.49 and $3.73 per diluted share, respectively.
The decreases in "net income attributable to common shareholders, as adjusted" and "FFO attributable to common shareholders plus assumed conversions, as adjusted" were partially due to (i) $10,447,000, or $0.05 per diluted share, of non-cash expense for the time-based equity compensation granted in connection with the new leadership group announced in April 2019, (ii) $9,416,000 (at share), or $0.05 per diluted share, from the non-cash write-off of straight-line rent receivables, and (iii) $8,477,000, or $0.04 per share, of non-cash expense for the accelerated vesting of previously issued restricted Operating Partnership units and Vornado restricted stock due to the removal of the time-based vesting requirement for participants who have reached 65 years of age.

1

The following information was filed by Vornado Realty Lp on Wednesday, February 19, 2020 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.

View differences made from one quarter to another to evaluate Vornado Realty Lp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Vornado Realty Lp.

Continue

Assess how Vornado Realty Lp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Vornado Realty Lp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

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
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Covid-19 Pandemic
Covid-19 Pandemic - Narrative (Details)
Debt
Debt (Narrative) (Details)
Debt (Summary Of Debt) (Details)
Debt (Tables)
Fair Value Measurements
Fair Value Measurements (Carrying Amounts And Fair Value Of Financial Instruments) (Details)
Fair Value Measurements (Changes In The Fair Value Of Loans Receivable) (Details)
Fair Value Measurements (Changes In The Fair Value Of Real Estate Fund Investments And Deferred Compensation Plan Assets) (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 (Summary Of Derivative Instruments) (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 (Loss) Income, Net
Interest And Other Investment (Loss) Income, Net (Details)
Interest And Other Investment (Loss) Income, Net (Tables)
Investments In Partially Owned Entities
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 - Fifth Avenue And Times Square Jv (Details)
Investments In Partially Owned Entities - Latest Financial Information Of Fifth Avenue And Times Square Jv (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 - Components Of Lease Revenue (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Revenues By Segment (Details)
Segment Information
Segment Information (Narrative) (Details)
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 - Narrative (Details)
Shareholders' Equity/Partners' Capital - Schedule Of Dividends (Details)
Stock-Based Compensation
Stock-Based Compensation (Narrative) (Details)
Variable Interest Entities
Variable Interest Entities - Narrative (Details)
CIK: 1040765
Form Type: 10-Q Quarterly Report
Accession Number: 0000899689-20-000025
Submitted to the SEC: Mon May 04 2020 4:32:38 PM EST
Accepted by the SEC: Mon May 04 2020
Period: Tuesday, March 31, 2020
Industry: Real Estate Investment Trusts

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1040765/0000899689-20-000025.htm