Net income and EBITDA (1) by Segment for the Years Ended December 31, 2008, 2007 and 2006 – continued
## Table 0 ##
Excluding items that affect comparability, the percentages of EBITDA by segment are 25.2% for New York Office, 23.6% for Washington, DC Office, 18.0% for Retail, 8.7% for Merchandise Mart, 17.5% for Toys and 7.0% for Other.
_________________________ See notes on the following page.
VORNADO REALTY TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 2.
Basis of Presentation and Significant Accounting Policies – continued Income Taxes: We operate in a manner intended to enable us to continue to qualify as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as amended.
Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to its shareholders.
We distribute to shareholders 100% of taxable income and therefore, no provision for Federal income taxes is required.
Dividend distributions for the year ended December 31, 2008 were characterized, for Federal income tax purposes, as 70.81% ordinary income and 29.19% return of capital.
Dividend distributions for the year ended December 31, 2007 were characterized, for Federal income tax purposes, as 61.6% ordinary income and 38.4% long-term capital gain income.
Dividend distributions for the year ended December 31, 2006 were characterized, for Federal income tax purposes, as 29.0% ordinary income, 14.8% long-term capital gain income and 56.2% return of capital.
We have elected to treat certain consolidated subsidiaries, and may in the future elect to treat newly formed subsidiaries, as taxable REIT subsidiaries pursuant to an amendment to the Internal Revenue Code that became effective January 1, 2001.
Taxable REIT subsidiaries may participate in non-real estate related activities and/or perform non-customary services for tenants and are subject to Federal and State income tax at regular corporate tax rates.
Our taxable REIT subsidiaries had a combined current income tax liability of approximately $21,357,000 and $15,361,000 for the years ended December 31, 2008 and 2007, respectively, and have immaterial differences between the financial reporting and tax basis of assets and liabilities.
In connection with purchase accounting for H Street, in July 2005 and April 2007 we recorded an aggregate of $222,174,000 of deferred tax liabilities representing the differences between the tax basis and the book basis of the acquired assets and liabilities multiplied by the effective tax rate.
We were required to record these deferred tax liabilities because H Street and its partially owned entities were operated as C Corporations at the time they were acquired.
As of January 16, 2008, we had completed all of the actions necessary to enable these entities to elect REIT status effective for the tax year beginning on January 1, 2008.
Consequently, in the first quarter of 2008, we reversed the deferred tax liabilities and recognized an income tax benefit of $222,174,000 in our consolidated statement of income.
The following table reconciles net income to estimated taxable income for the years ended December 31, 2008, 2007 and 2006.
## Table 1 ##
The net basis of our assets and liabilities for tax reporting purposes is approximately $3.4 billion lower than the amount reported in our consolidated financial statements.
VORNADO REALTY TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 13.
Leases As lessor: We lease space to tenants under operating leases.
Most of the leases provide for the payment of fixed base rentals payable monthly in advance.
Office building leases generally require the tenants to reimburse us for operating costs and real estate taxes above their base year costs.
Shopping center leases provide for the pass-through to tenants the tenants’ share of real estate taxes, insurance and maintenance.
Shopping center leases also provide for the payment by the lessee of additional rent based on a percentage of the tenants’ sales.
As of December 31, 2008, future base rental revenue under non-cancelable operating leases, excluding rents for leases with an original term of less than one year and rents resulting from the exercise of renewal options, is as follows:
## Table 2 ##
These amounts do not include rentals based on tenants’ sales.
These percentage rents approximated $7,322,000, $9,379,000, and $7,593,000, for the years ended December 31, 2008, 2007, and 2006, respectively.
None of our tenants accounted for more than 10% of total revenues for the years ended December 31, 2008, 2007 and 2006.
Former Bradlees Locations Pursuant to the Master Agreement and Guaranty, dated May 1, 1992, we are due $5,000,000 per annum of additional rent from Stop & Shop which was allocated to certain of Bradlees former locations.
On December 31, 2002, prior to the expiration of the leases to which the additional rent was allocated, we reallocated this rent to other former Bradlees leases also guaranteed by Stop & Shop.
Stop & Shop is contesting our right to reallocate and claims that we are no longer entitled to the additional rent.
At December 31, 2008, we are due an aggregate of $30,400,000.
We believe the additional rent provision of the guaranty expires at the earliest in 2012 and we are vigorously contesting Stop & Shop’s position.

Tables referenced above, in order (Table 0 first):
<table><tr><td>(Amounts in thousands)</td><td colspan="7"> For the Year Ended December 31, 2006</td></tr><tr><td></td><td>Total</td><td>New York Office</td><td>Washington, DC Office -2</td><td>Retail</td><td>Merchandise Mart -2</td><td>Toys</td><td>Other -4</td></tr><tr><td>Property rentals</td><td>$1,458,201</td><td>$487,421</td><td>$394,997</td><td>$264,727</td><td>$224,341</td><td>$—</td><td>$86,715</td></tr><tr><td>Straight-line rents:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Contractual rent increases</td><td>31,947</td><td>4,431</td><td>13,632</td><td>7,908</td><td>6,142</td><td>—</td><td>-166</td></tr><tr><td>Amortization of free rent</td><td>31,103</td><td>7,245</td><td>16,155</td><td>5,080</td><td>2,623</td><td>—</td><td>—</td></tr><tr><td>Amortization of acquired below- market leases, net</td><td>23,490</td><td>976</td><td>4,178</td><td>15,513</td><td>43</td><td>—</td><td>2,780</td></tr><tr><td>Total rentals</td><td>1,544,741</td><td>500,073</td><td>428,962</td><td>293,228</td><td>233,149</td><td>—</td><td>89,329</td></tr><tr><td>Tenant expense reimbursements</td><td>260,772</td><td>102,488</td><td>34,618</td><td>101,737</td><td>17,810</td><td>—</td><td>4,119</td></tr><tr><td>Fee and other income:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Tenant cleaning fees</td><td>33,779</td><td>42,317</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-8,538</td></tr><tr><td>Management and leasing fees</td><td>10,256</td><td>1,111</td><td>7,643</td><td>1,463</td><td>39</td><td>—</td><td>—</td></tr><tr><td>Lease termination fees</td><td>29,362</td><td>25,188</td><td>2,798</td><td>371</td><td>1,005</td><td>—</td><td>—</td></tr><tr><td>Other</td><td>30,190</td><td>12,307</td><td>11,247</td><td>1,588</td><td>4,963</td><td>—</td><td>85</td></tr><tr><td>Total revenues</td><td>1,909,100</td><td>683,484</td><td>485,268</td><td>398,387</td><td>256,966</td><td>—</td><td>84,995</td></tr><tr><td>Operating expenses</td><td>737,452</td><td>301,583</td><td>152,121</td><td>130,520</td><td>103,644</td><td>—</td><td>49,584</td></tr><tr><td>Depreciation and amortization</td><td>319,066</td><td>98,474</td><td>106,592</td><td>50,806</td><td>42,132</td><td>—</td><td>21,062</td></tr><tr><td>General and administrative</td><td>180,167</td><td>16,942</td><td>34,074</td><td>21,683</td><td>26,572</td><td>—</td><td>80,896</td></tr><tr><td>Total expenses</td><td>1,236,685</td><td>416,999</td><td>292,787</td><td>203,009</td><td>172,348</td><td>—</td><td>151,542</td></tr><tr><td>Operating income (loss)</td><td>672,415</td><td>266,485</td><td>192,481</td><td>195,378</td><td>84,618</td><td>—</td><td>-66,547</td></tr><tr><td>(Loss) income applicable to Alexander’s</td><td>-14,530</td><td>772</td><td>—</td><td>716</td><td>—</td><td>—</td><td>-16,018</td></tr><tr><td>Loss applicable to Toys “R” Us</td><td>-47,520</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-47,520</td><td>—</td></tr><tr><td>Income from partially owned entities</td><td>60,355</td><td>3,844</td><td>13,302</td><td>5,950</td><td>1,076</td><td>—</td><td>36,183</td></tr><tr><td>Interest and other investment income, net</td><td>255,391</td><td>913</td><td>1,782</td><td>812</td><td>275</td><td>—</td><td>251,609</td></tr><tr><td>Interest and debt expense</td><td>-394,571</td><td>-84,134</td><td>-97,972</td><td>-79,202</td><td>-28,672</td><td>—</td><td>-104,591</td></tr><tr><td>Net gains on disposition of wholly owned and partially owned assets other than depreciable real estate</td><td>76,073</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>76,073</td></tr><tr><td>Minority interest of partially owned entities</td><td>1,363</td><td>—</td><td>—</td><td>84</td><td>5</td><td>—</td><td>1,274</td></tr><tr><td>Income (loss) before income taxes</td><td>608,976</td><td>187,880</td><td>109,593</td><td>123,738</td><td>57,302</td><td>-47,520</td><td>177,983</td></tr><tr><td>Income tax (expense) benefit</td><td>-491</td><td>—</td><td>-1,066</td><td>—</td><td>575</td><td>—</td><td>—</td></tr><tr><td>Income (loss) from continuing operations</td><td>608,485</td><td>187,880</td><td>108,527</td><td>123,738</td><td>57,877</td><td>-47,520</td><td>177,983</td></tr><tr><td>Income (loss) from discontinued operations, net</td><td>32,215</td><td>—</td><td>25,714</td><td>9,206</td><td>5,682</td><td>—</td><td>-8,387</td></tr><tr><td>Income (loss) before allocation to minority limited partners</td><td>640,700</td><td>187,880</td><td>134,241</td><td>132,944</td><td>63,559</td><td>-47,520</td><td>169,596</td></tr><tr><td>Minority limited partners’ interest in the Operating Partnership</td><td>-58,712</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-58,712</td></tr><tr><td>Perpetual preferred unit distributions of the Operating Partnership</td><td>-21,848</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-21,848</td></tr><tr><td>Net income (loss)</td><td>560,140</td><td>187,880</td><td>134,241</td><td>132,944</td><td>63,559</td><td>-47,520</td><td>89,036</td></tr><tr><td>Interest and debt expense <sup>-3</sup></td><td>692,496</td><td>86,861</td><td>107,477</td><td>89,748</td><td>29,551</td><td>196,259</td><td>182,600</td></tr><tr><td>Depreciation and amortization <sup>-3</sup></td><td>542,515</td><td>101,976</td><td>125,674</td><td>56,168</td><td>42,717</td><td>137,176</td><td>78,804</td></tr><tr><td>Income tax (benefit) expense <sup>(3)</sup></td><td>-11,848</td><td>—</td><td>8,976</td><td>—</td><td>-575</td><td>-22,628</td><td>2,379</td></tr><tr><td>EBITDA <sup>-1</sup></td><td>$1,783,303</td><td>$376,717</td><td>$376,368</td><td>$278,860</td><td>$135,252</td><td>$263,287</td><td>$352,819</td></tr><tr><td>Percentage of EBITDA by segment</td><td>100.0%</td><td>21.1%</td><td>21.1%</td><td>15.6%</td><td>7.6%</td><td>14.8%</td><td>19.8%</td></tr></table>
<table><tr><td>(Amounts in thousands)</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td>Net income applicable to common shares</td><td>$337,952</td><td>$511,729</td><td>$502,629</td></tr><tr><td>Book to tax differences (unaudited):</td><td></td><td></td><td></td></tr><tr><td>Depreciation and amortization</td><td>233,426</td><td>145,131</td><td>118,364</td></tr><tr><td>Reversal of deferred tax liability</td><td>-202,267</td><td>—</td><td>—</td></tr><tr><td>Straight-line rent adjustments</td><td>-82,901</td><td>-70,450</td><td>-56,690</td></tr><tr><td>Stock options expense</td><td>-71,995</td><td>-88,752</td><td>-220,043</td></tr><tr><td>Derivatives</td><td>43,218</td><td>131,711</td><td>-25,726</td></tr><tr><td>Earnings of partially owned entities</td><td>-50,855</td><td>12,093</td><td>72,534</td></tr><tr><td>Net gains on sale of real estate</td><td>3,687</td><td>-57,386</td><td>-22,699</td></tr><tr><td>Compensation deduction for units held in Rabbi Trust</td><td>—</td><td>—</td><td>-171,356</td></tr><tr><td>Sears Canada dividend</td><td>—</td><td>—</td><td>-72,706</td></tr><tr><td>Other, net</td><td>84,124</td><td>37,571</td><td>-21,048</td></tr><tr><td>Estimated taxable income</td><td>$294,389</td><td>$621,647</td><td>$103,259</td></tr></table>
<table><tr><td>2009</td><td>$1,792,000</td></tr><tr><td>2010</td><td>1,732,000</td></tr><tr><td>2011</td><td>1,576,000</td></tr><tr><td>2012</td><td>1,417,000</td></tr><tr><td>2013</td><td>1,300,000</td></tr><tr><td>Thereafter</td><td>7,216,000</td></tr></table>

Question: What was the average value of the (Loss) income applicable to Alexander’s in the years whereProperty rentals is positive? (in thousand)
Answer: -14530
Reasoning program: divide(-14530,const_1)