← VORNADO REALTY TRUST
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | ($382.6m) | $32.9m | $20.1m | $937.2m | |
| Net Income (Loss) Attributable to Parent | $906.9m | $227.4m | $450.0m | $3.1b | ($297.0m) | $176.0m | ($346.5m) | $105.5m | $70.4m | $905.0m | |
| Net Income (Loss) Available to Common Stockholders, Basic | $823.6m | $162.0m | $384.8m | $3.1b | ($348.7m) | $101.1m | ($408.6m) | $43.4m | $8.3m | $842.9m | |
| Gain (Loss) on Disposition of Real Estate, Discontinued Operations | $5.1m | $6.6m | $618k | — | — | — | — | — | — | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $981.9m | $264.1m | $422.6m | $3.3b | ($461.8m) | $207.6m | ($382.6m) | $32.9m | $20.1m | $937.2m | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $900.2m | $239.8m | $449.4m | $3.1b | ($297.0m) | $176.0m | — | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $974.8m | $277.4m | $422.0m | $3.3b | ($461.8m) | $207.6m | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $7.2m | ($13.2m) | $638k | ($30k) | $0 | $0 | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | $6.7m | ($12.4m) | $598k | ($28k) | $0 | $0 | — | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $21.4m | — | — | — | — | — | — | — | — | — | |
| Depreciation, Depletion and Amortization | $595.3m | $529.8m | $472.8m | $438.9m | $417.9m | $432.6m | $526.3m | $457.6m | $469.4m | $481.5m | |
| Amortization of Debt Issuance Costs | $34.7m | $34.1m | $32.0m | $23.8m | $18.5m | $20.2m | $21.8m | $23.3m | $21.9m | $19.3m | |
| Amortization Of Securities | — | — | — | — | — | — | $430k | $11.0m | $41.7m | $23.5m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $526.3m | $457.6m | $469.4m | $481.5m | |
| Deferred Income Tax | — | — | — | — | — | — | $14.0m | $17.0m | $13.0m | $3.5m | |
| Deferred Tax | — | — | — | — | — | — | $14.0m | $17.0m | $13.0m | $3.5m | |
| Share-based Payment Arrangement, Noncash Expense | — | — | — | $53.9m | $48.7m | $38.3m | $29.2m | $43.2m | $30.2m | $25.5m | |
| Share-based Payment Arrangement, Expense | $34.0m | $32.8m | $31.7m | $53.9m | $48.7m | $38.3m | $29.2m | $43.2m | $30.2m | $25.5m | |
| Equity Method Investment, Other than Temporary Impairment | $20.3m | $44.5m | — | $0 | — | — | — | — | — | — | |
| Operating Lease, Impairment Loss | — | — | — | $75.2m | — | — | — | — | — | — | |
| Asset Impairment Charge | — | — | — | — | — | — | $19.1m | $45.0m | $0 | $0 | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | — | ($461.4m) | $38.7m | $112.5m | $141.3m | |
| Gain (Loss) on Extinguishment of Debt | $487.9m | $0 | $0 | ($22.1m) | $0 | $0 | — | — | — | — | |
| Gain (Loss) on Disposition of Assets | — | — | — | $845.5m | $381.3m | $50.8m | $100.6m | $71.2m | $16.0m | $35.3m | |
| Gain (Loss) on Disposition of Other Assets | $175.7m | — | — | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $8.3m | $41.1m | $37.6m | $103.4m | $36.6m | ($10.5m) | $21.7m | $29.2m | $22.7m | $13.5m | |
| Operating Lease, Expense | — | — | — | — | — | $38.0m | $59.4m | $61.2m | $60.5m | $32.2m | |
| Operating Lease, Lease Income | — | — | — | $1.7b | $1.3b | $1.4b | $1.5b | $1.5b | $1.5b | $1.5b | |
| Other Nonoperating Income (Expense) | $7.3m | $13.2m | $4.0m | $3.7m | $3.6m | $1.8m | $235k | $0 | $0 | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | $461.4m | ($38.7m) | ($112.5m) | ($141.3m) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $7.5m | ($1.2m) | $14.5m | $26.0m | $5.3m | $187k | $4.4m | ($9.4m) | ($4.7m) | $18.8m | |
| Increase (Decrease) in Other Operating Assets | $70.1m | $79.2m | $84.2m | $4.3m | $52.8m | $54.7m | $34.6m | $79.1m | $74.4m | $133.1m | |
| Payments of Financing Costs | — | — | — | — | — | — | — | $4.4m | $13.9m | $7.5m | |
| Deconsolidation, Gain (Loss), Amount | $42.0m | $0 | $0 | — | — | — | — | — | — | — | |
| Gain (Loss) on Sale of Properties | $5.1m | $3.5m | $0 | — | — | — | — | — | — | — | |
| General and Administrative Expense | $179.3m | $159.0m | $141.9m | $169.9m | $181.5m | $134.5m | $133.7m | $162.9m | $148.5m | $156.1m | |
| Marketable Securities, Unrealized Gain (Loss) | — | — | ($26.5m) | ($5.5m) | ($4.9m) | $0 | $0 | — | — | — | |
| Operating Costs and Expenses | $1.0b | $886.6m | $963.5m | $918.0m | $789.1m | $797.3m | $873.9m | $905.2m | $927.8m | $920.0m | |
| Operating Expenses | $2.0b | $1.5b | $1.6b | $1.6b | $1.6b | $1.4b | $1.5b | $1.6b | $1.5b | $1.6b | |
| Proceeds from Stock Options Exercised | $8.3m | $29.7m | $7.3m | $6.9m | $5.9m | $899k | $885k | — | — | $42k | |
| Financing Receivable, Credit Loss, Expense (Reversal) | — | — | — | — | $13.4m | $0 | $0 | $8.3m | $0 | $0 | |
| Real Estate Tax Expense | — | — | — | $0 | $0 | — | — | — | — | — | |
| Sales-type Lease, Selling Profit (Loss) | — | — | — | — | — | — | — | — | — | $803.2m | |
| Beginning Cash Position | — | — | — | — | — | — | $1.9b | $1.0b | $1.3b | $949.6m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($801.3m) | ($278.9m) | ($252.3m) | ($1.3b) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($906.9m) | ($128.8m) | ($597.4m) | $115.5m | |
| Change In Account Payable | — | — | — | — | — | — | $5.7m | $10.7m | ($6.8m) | $6.3m | |
| Change In Other Current Assets | — | — | — | — | — | — | ($34.6m) | ($79.1m) | ($74.4m) | ($133.1m) | |
| Change In Other Current Liabilities | — | — | — | — | — | — | $16.5m | $46.3m | $27.9m | ($44.3m) | |
| Change In Payable | — | — | — | — | — | — | $5.7m | $10.7m | ($6.8m) | $6.3m | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $5.7m | $10.7m | ($6.8m) | $6.3m | |
| Change In Prepaid Assets | — | — | — | — | — | — | $104.2m | ($12.9m) | ($8.3m) | $8.6m | |
| Change In Receivables | — | — | — | — | — | — | ($4.4m) | $9.4m | $4.7m | ($18.8m) | |
| Change In Working Capital | — | — | — | — | — | — | $87.3m | ($25.6m) | ($57.0m) | ($181.2m) | |
| Changes In Cash | — | — | — | — | — | — | ($909.2m) | $240.4m | ($312.0m) | $27.9m | |
| End Cash Position | — | — | — | — | — | — | $1.0b | $1.3b | $949.6m | $977.5m | |
| Financing Cash Flow | — | — | — | — | — | — | ($801.3m) | ($278.9m) | ($252.3m) | ($1.3b) | |
| Free Cash Flow | — | — | — | — | — | — | $798.9m | $648.2m | $537.7m | $1.3b | |
| Gain Loss On Investment Securities | — | — | — | — | — | ($4.6m) | $2.6m | ($1.9m) | — | — | |
| Investing Cash Flow | — | — | — | — | — | — | ($906.9m) | ($128.8m) | ($597.4m) | $115.5m | |
| Issuance Of Capital Stock | — | — | — | — | — | $291.2m | $0 | $0 | — | — | |
| Net Business Purchase And Sale | — | — | — | — | — | — | $1.2m | ($52.6m) | ($115.4m) | $15.3m | |
| Net Preferred Stock Issuance | — | — | — | — | — | ($8.8m) | $0 | $0 | — | — | |
| Operating Gains Losses | — | — | — | — | — | — | $363.3m | ($111.7m) | ($128.5m) | ($176.6m) | |
| Other Non Cash Items | — | — | — | — | — | — | ($42.7m) | $5.9m | $5.9m | $30.3m | |
| Preferred Stock Issuance | — | — | — | — | — | $291.2m | $0 | $0 | — | — | |
| Preferred Stock Payments | — | — | — | — | — | ($300.0m) | $0 | $0 | — | — | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | $899k | $885k | $146k | — | — | |
| Purchase Of Business | — | — | — | — | — | — | ($33.2m) | ($71.5m) | ($115.4m) | ($35.6m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | $0 | ($29.2m) | $0 | ($51.0m) | |
| Sale Of Business | — | — | — | — | — | — | $34.4m | $18.9m | $0 | $50.9m | |
| Stock Based Compensation | — | — | — | — | — | — | $29.2m | $43.2m | $30.2m | $25.5m | |
| Unrealized Gain Loss On Investment Securities | — | — | — | — | — | $0 | $0 | — | — | — | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | — | $0 | — | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $1.0b | $860.1m | $802.6m | $662.5m | $424.2m | $761.8m | $798.9m | $648.2m | $537.7m | $1.3b | |
| Cash flows from investing activities: | |||||||||||
| Capital Expenditure Reported | — | — | — | — | — | $0 | $0 | — | — | — | |
| Net Investment Properties Purchase And Sale | — | — | — | — | — | — | ($439.5m) | ($649.7m) | ($432.0m) | ($613.8m) | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | ($468.6m) | $468.6m | $0 | $0 | |
| Purchase Of Investment | — | — | — | — | — | $0 | ($1.1b) | $0 | $0 | — | |
| Purchase Of Investment Properties | — | — | — | — | — | — | ($900.8m) | ($797.7m) | ($465.6m) | ($709.5m) | |
| Gains (Losses) on Sales of Investment Real Estate | — | — | — | $2.6b | $0 | $0 | — | — | — | — | |
| Sale Of Investment | — | — | — | — | — | — | $597.5m | $468.6m | $0 | $0 | |
| Sale Of Investment Properties | — | — | — | — | — | — | $461.3m | $148.0m | $33.6m | $95.7m | |
| Net Other Investing Changes | — | — | — | — | — | $1.6m | — | $105.0m | ($50.0m) | $714.0m | |
| Net Cash Provided by (Used in) Investing Activities | ($889.2m) | ($206.3m) | ($877.7m) | $2.5b | ($87.8m) | ($532.3m) | ($906.9m) | ($128.8m) | ($597.4m) | $115.5m | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $2.4b | $1.1b | $526.8m | $1.1b | $1.1b | $3.2b | $1.0b | $0 | $75.0m | $835.8m | |
| Issuance Of Debt | — | — | — | — | — | — | $1.0b | $0 | $75.0m | $835.8m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $1.0b | $0 | $75.0m | $835.8m | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($221.6m) | ($148.0m) | ($22.4m) | ($1.1b) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($221.6m) | ($148.0m) | ($22.4m) | ($1.1b) | |
| Repayments of Long-term Debt | $1.9b | $631.7m | $685.3m | $2.7b | $1.1b | $1.6b | $1.3b | $148.0m | $97.4m | $1.9b | |
| Long Term Debt Payments | — | — | — | — | — | — | ($1.3b) | ($148.0m) | ($97.4m) | ($1.9b) | |
| Repayment Of Debt | — | — | — | — | — | — | ($1.3b) | ($148.0m) | ($97.4m) | ($1.9b) | |
| Net Common Stock Issuance | — | — | — | — | — | — | $0 | ($29.2m) | $0 | ($51.0m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | $29.2m | $0 | $51.0m | |
| Payments of Ordinary Dividends, Common Stock | $476.0m | $496.5m | $479.3m | $503.8m | $827.3m | $406.1m | $406.6m | $129.1m | $141.1m | $141.3m | |
| Common Stock Payments | — | — | — | — | — | — | $0 | ($29.2m) | $0 | ($51.0m) | |
| Proceeds from Noncontrolling Interests | $11.9m | $1.0m | $61.1m | $17.9m | $100.1m | $4.1m | $5.6m | $132.7m | $5.3m | $6.7m | |
| Dividends Payable | — | — | — | $398.3m | $0 | — | — | — | — | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($468.7m) | ($191.2m) | ($203.2m) | ($203.4m) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($406.6m) | ($129.1m) | ($141.1m) | ($141.3m) | |
| Dividend Received CFO | — | — | — | — | — | — | $184.5m | $172.9m | $142.9m | $114.8m | |
| Dividends Received CFI | — | — | — | — | — | $106.0m | $34.4m | $18.9m | — | — | |
| Preferred Stock Dividend Paid | — | — | — | — | — | — | ($62.1m) | ($62.1m) | ($62.1m) | ($62.1m) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | — | — | — | — | $57k | ($41k) | |
| Net Other Financing Charges | — | — | — | — | — | — | ($111.0m) | $89.4m | ($26.7m) | ($23.9m) | |
| Net Cash Provided by (Used in) Financing Activities | ($446.2m) | ($338.3m) | ($1.1b) | ($2.2b) | ($213.2m) | ($29.5m) | ($801.3m) | ($278.9m) | ($252.3m) | ($1.3b) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $890.2m | $123.2m | $200.0m | ($909.2m) | $240.4m | ($312.0m) | $27.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $1.9b | $716.9m | $1.6b | $1.7b | $1.9b | $1.0b | $1.3b | $949.6m | $977.5m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($909.2m) | $240.4m | ($312.0m) | $27.9m | |
| Income Tax Paid Supplemental Data | — | — | — | — | — | — | $7.9m | $10.4m | $7.6m | $5.2m | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $368.8m | $339.0m | $311.8m | $283.6m | $210.1m | $188.6m | $252.4m | $381.4m | $322.8m | $313.1m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.