Company: SLG-PI
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001040971-25-000010
Chunk: 109

Company: SL GREEN REALTY CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 109
---
, acquire such OP Unit for one share of common stock. Because the number of shares of common stock outstanding at all times equals the number of OP Units that the Company owns, one share of common stock is generally the economic equivalent of one OP Unit, and the quarterly distribution that may be paid to the holder of an OP Unit equals the quarterly dividend that may be paid to the holder of a share of common stock. Each series of Preferred Units makes a distribution that is set in accordance with an amendment to the partnership agreement of the Operating Partnership. Preferred Units may also be convertible into OP Units at the election of the holder thereof or the Company, subject to the terms of such Preferred Units.Net income (loss) allocated to the preferred unitholders and common unitholders reflects their pro rata share of net income (loss) and distributions.Limited Partner UnitsAs of December 31, 2024, limited partners other than SL Green owned 5.97%, or 4,509,953 common units, of the Operating Partnership.Preferred UnitsPreferred units not owned by SL Green are further described in Note 11, “Noncontrolling Interests on the Company's Consolidated Financial Statements - Preferred Units of Limited Partnership Interest in the Operating Partnership.”

107

Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)December 31, 2024    

Earnings per UnitThe Operating Partnership's earnings per unit for the years ended December 31, 2024, 2023, and 2022 respectively are computed as follows (in thousands):Year Ended December 31,Numerator202420232022Basic Earnings:Net Income (loss) attributable to SLGOP common unitholders (numerator for diluted earnings per unit)$7,557 $(616,974)$(98,818)Less: distributed earnings allocated to participating securities(4,665)(2,655)(2,219)Net income (loss) attributable to SLGOP common unitholders (numerator for basic earnings per unit)$2,892 $(619,629)$(101,037)Add back: dilutive effect of earnings allocated to participating securities and contingently issuable shares26 — — Income (loss) attributable to SLGOP common unitholders$2,918 $(619,629)$(101,037)Year Ended December 31,Denominator202420232022Basic units:Weighted average common units outstanding68,736