Vornado Realty Lp 10-Q Quarterly Report August 2021

NET INCOME attributable to common shareholders for the quarter ended March 31, 2021 was $4,083,000, or $0.02 per diluted share, compared to $4,963,000, or $0.03 per diluted share, for the prior year's quarter. Adjusting for the items that impact period-to-period comparability listed in the table below, net income attributable to common shareholders, as adjusted (non-GAAP) for the quarters ended March 31, 2021 and 2020 was $12,446,000 and $31,947,000, or $0.06 and $0.17 per diluted share, respectively.

FUNDS FROM OPERATIONS ("FFO") attributable to common shareholders plus assumed conversions (non-GAAP) for the quarter ended March 31, 2021 was $118,407,000, or $0.62 per diluted share, compared to $130,360,000, or $0.68 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, FFO attributable to common shareholders plus assumed conversions, as adjusted (non-GAAP) for the quarters ended March 31, 2021 and 2020 was $124,359,000 and $146,829,000, or $0.65 and $0.77 per diluted share, respectively.

The following table reconciles our net income attributable to common shareholders to net income attributable to common shareholders, as adjusted (non-GAAP):


(Amounts in thousands, except per share amounts)	For the Three Months Ended March 31,
	2021		2020
Net income attributable to common shareholders	$	4,083	$	4,963
Per diluted share	$	0.02	$	0.03

Certain expense (income) items that impact net income attributable to common shareholders:
Hotel Pennsylvania (temporarily closed on April 1, 2020, permanently closed on April 5, 2021)	$	8,990	$	12,393
Our share of (income) loss from real estate fund investments	(260)		56,158
After-tax net gain on sale of 220 Central Park South ("220 CPS") condominium units	—		(59,911)
Credit losses on loans receivable	—		7,261
Mark-to-market decrease in Pennsylvania Real Estate Investment Trust ("PREIT") common shares (sold on January 23, 2020)	—		4,938
Other	194		7,896
	8,924		28,735
Noncontrolling interests' share of above adjustments	(561)		(1,751)
Total of certain expense (income) items that impact net income attributable to common shareholders	$	8,363	$	26,984

Net income attributable to common shareholders, as adjusted (non-GAAP)	$	12,446	$	31,947
Per diluted share (non-GAAP)	$	0.06	$	0.17


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The following information was filed by Vornado Realty Lp on Tuesday, May 4, 2021 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

Material Contracts, Statements, Certifications & more

Vornado Realty Lp provided additional information to their SEC Filing as exhibits

Exhibit 10.44: Material Contract

Exhibit 10.45: Material Contract

Exhibit 10.46: Material Contract

Exhibit 15.1: Letter Regards Unaudited Interim Financial Information

Exhibit 15.2: Letter Regards Unaudited Interim Financial Information

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.3: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.4: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 32.3: Section 1350 Certification

Exhibit 32.4: Section 1350 Certification

CIK: 1040765
Form Type: 10-Q Quarterly Report
Accession Number: 0000899689-21-000040
Submitted to the SEC: Mon Aug 02 2021 4:21:29 PM EST
Accepted by the SEC: Mon Aug 02 2021
Period: Wednesday, June 30, 2021
Industry: Real Estate Investment Trusts