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Vornado records $130M net loss on Toy R Us holdings


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Vornado Realty Trust, which has significant operations in Paramus, announced Dec. 24th it will report a fourth quarter net loss of $130.85 million, or $0.66 per diluted share, on its 32.6 percent ownership stake in Toys "R" Us.

According to the announcement, Vornado results will include in its fourth quarter a net loss attributable to Toys 2013 third quarter. The loss significantly larger than the net loss of $73.83 million, or $0.37 per diluted share, the company recorded in Q4 2012, attributable to Toys’ 2012 third quarter. That loss included a $40 million non-cash impairment loss on Vornado’s investment in Toys.

Vornado records its proportionate share of Toys’ results based on purchase price accounting, which differs from Toys’ publicly reported historical accounting, the company said in a statement. Details on those calculations are available in Vornado's announcement.

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