$PGRE
Paramount Group Inc

2021 Q1 Form 10-Q Financial Statement

#000156459021021386 Filed on April 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $6.670M $184.0M
YoY Change -96.37% -0.22%
Cost Of Revenue $66.60M $67.00M
YoY Change -0.6% 2.29%
Gross Profit $114.5M $117.0M
YoY Change -2.14% -1.6%
Gross Profit Margin 1716.64% 63.59%
Selling, General & Admin $14.40M $12.20M
YoY Change 18.03% -29.89%
% of Gross Profit 12.58% 10.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $58.30M $59.10M
YoY Change -1.35% -6.34%
% of Gross Profit 50.92% 50.51%
Operating Expenses $139.6M $137.9M
YoY Change 1.21% -4.47%
Operating Profit -$25.07M -$20.89M
YoY Change 19.98% -17.91%
Interest Expense -$39.70M -$39.90M
YoY Change -0.5% -216.93%
% of Operating Profit
Other Income/Expense, Net -$101.0K -$151.0K
YoY Change -33.11% -108.79%
Pretax Income $3.025M $4.309M
YoY Change -29.8% -28.56%
Income Tax $1.141M $604.0K
% Of Pretax Income 37.72% 14.02%
Net Earnings -$3.578M $3.348M
YoY Change -206.87% -9.73%
Net Earnings / Revenue -53.64% 1.82%
Basic Earnings Per Share -$0.02 $0.01
Diluted Earnings Per Share -$0.02 $0.01
COMMON SHARES
Basic Shares Outstanding 218.7M 227.8M
Diluted Shares Outstanding 218.7M 227.8M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $489.7M $400.5M
YoY Change 22.26% 8.17%
Cash & Equivalents $464.7M $377.7M
Short-Term Investments $25.04M $22.85M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $12.70M $17.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $477.4M $395.5M
YoY Change 20.71% 9.13%
LONG-TERM ASSETS
Property, Plant & Equipment $6.967B $7.083B
YoY Change -1.63% -4.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $424.8M $442.5M
YoY Change -4.0% 206.02%
Other Assets $472.8M $561.7M
YoY Change -15.83% 34.89%
Total Long-Term Assets $8.095B $8.359B
YoY Change -3.16% -0.01%
TOTAL ASSETS
Total Short-Term Assets $477.4M $395.5M
Total Long-Term Assets $8.095B $8.359B
Total Assets $8.572B $8.754B
YoY Change -2.08% 0.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $117.3M $109.6M
YoY Change 7.03% -12.74%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $134.2M $133.9M
YoY Change 0.22% -11.62%
LONG-TERM LIABILITIES
Long-Term Debt $3.815B $3.989B
YoY Change -4.35% 11.76%
Other Long-Term Liabilities $116.9M $124.5M
YoY Change -6.1% -15.02%
Total Long-Term Liabilities $3.932B $4.113B
YoY Change -4.41% 10.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $134.2M $133.9M
Total Long-Term Liabilities $3.932B $4.113B
Total Liabilities $4.944B $5.032B
YoY Change -1.76% 30.13%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.629B $3.722B
YoY Change
Total Liabilities & Shareholders Equity $8.572B $8.754B
YoY Change -2.08% 0.37%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$3.578M $3.348M
YoY Change -206.87% -9.73%
Depreciation, Depletion And Amortization $58.30M $59.10M
YoY Change -1.35% -6.34%
Cash From Operating Activities $58.33M $26.96M
YoY Change 116.36% -71.46%
INVESTING ACTIVITIES
Capital Expenditures -$19.30M -$30.50M
YoY Change -36.72% 9.32%
Acquisitions
YoY Change
Other Investing Activities -$7.000M $30.60M
YoY Change -122.88% -206.62%
Cash From Investing Activities -$26.34M $115.0K
YoY Change -23007.83% -100.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $97.01M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.070M 39.69M
YoY Change -122.85% -192.86%
NET CHANGE
Cash From Operating Activities 58.33M 26.96M
Cash From Investing Activities -26.34M 115.0K
Cash From Financing Activities -9.070M 39.69M
Net Change In Cash 22.92M 66.77M
YoY Change -65.68% -1452.07%
FREE CASH FLOW
Cash From Operating Activities $58.33M $26.96M
Capital Expenditures -$19.30M -$30.50M
Free Cash Flow $77.63M $57.46M
YoY Change 35.1% -53.04%

Facts In Submission

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IncomeTaxesPaidNet
575000
CY2021Q1 pgre Dividends And Distributions Declared But Not Paid
DividendsAndDistributionsDeclaredButNotPaid
16889000
CY2020Q1 pgre Dividends And Distributions Declared But Not Paid
DividendsAndDistributionsDeclaredButNotPaid
24342000
CY2021Q1 pgre Additions To Real Estate Included In Accounts Payable And Accrued Expenses
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpenses
6223000
CY2020Q1 pgre Additions To Real Estate Included In Accounts Payable And Accrued Expenses
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpenses
14878000
CY2021Q1 pgre Assets Written Off
AssetsWrittenOff
2142000
CY2020Q1 pgre Assets Written Off
AssetsWrittenOff
3794000
CY2020Q1 pgre Common Shares Issued Upon Redemption Of Common Units
CommonSharesIssuedUponRedemptionOfCommonUnits
85311000
CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p id="NOTES_TO_CONSOL_FIN_STAT" style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Organization and Business</p></td></tr></table></div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As used in these consolidated financial statements, unless otherwise indicated, all references to “we,” “us,” “our,” the “Company,” and “Paramount” refer to Paramount Group, Inc., a Maryland corporation, and its consolidated subsidiaries, including Paramount Group Operating Partnership LP (the “Operating Partnership”), a Delaware limited partnership. We are a fully-integrated real estate investment trust (“REIT”) focused on owning, operating, managing, acquiring and redeveloping high-quality, Class A office properties in select central business district submarkets of New York City and San Francisco. As of March 31, 2021, our portfolio consisted of 13 Class A properties aggregating 12.9 million square feet. We conduct our business through, and substantially all of our interests in properties and investments are held by, the Operating Partnership. We are the sole general partner of, and owned approximately 91.0% of, the Operating Partnership as of March 31, 2021.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2020, the World Health Organization declared coronavirus 2019 (“COVID-19”) a global pandemic. The outbreak of COVID-19 has caused, and continues to cause, severe disruptions in the global economy. These disruptions have adversely impacted businesses and financial markets, including that of New York and San Francisco, the markets in which we operate and where all of our assets are located. As a result, several of our tenants have sought deferrals and/or short-term relief of their rental obligations. Based on our evaluation of such requests, we have entered into agreements with select tenants to abate and/or defer a portion of their rental obligations. We have closely monitored our rent collections and have evaluated and continue to evaluate additional tenant requests on a case-by-case basis.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Since the onset of the pandemic we implemented several measures aimed at ensuring a healthy and safe environment for all building occupants, including our tenants and employees. While our buildings have remained open throughout the pandemic, the majority of our tenants have had their employees work remotely. In December 2020, the U.S. Food and Drug Administration issued emergency use authorizations of two vaccines for the prevention of COVID-19, with a third one approved in February 2021. The ongoing mass distribution of COVID-19 vaccines has improved as the government executes on its mandate to ensure that the maximum number of people are vaccinated. Notwithstanding these vaccination efforts, multiple variants of the virus that cause COVID-19 continue to persist globally and in the United States. While we continue to navigate the crisis and monitor the impact of the pandemic on our business, the rapid development and fluidity of this situation precludes us at this time from making any predictions as to the ultimate impact COVID-19 may have on our future financial condition, results of operations and cash flows.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p>
CY2021Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
13
CY2021Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
12900000
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We have made estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. The results of operations for the three months ended March 31, 2021, are not necessarily indicative of the operating results for the full year.</p>
CY2021Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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411790000
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
412724000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-5316000
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-4221000
CY2021Q1 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
12961000
CY2020Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
12917000
CY2021Q1 pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
180000
CY2020Q1 pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
52000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
395730000
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
251569000
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
144161000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
153519000
CY2021Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
162237000
CY2020Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
163977000
CY2021Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
109233000
CY2020Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
107981000
CY2021Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
53004000
CY2021Q1 pgre Amortization Of Above And Below Market Leases Next Twelve Months
AmortizationOfAboveAndBelowMarketLeasesNextTwelveMonths
-1612000
CY2021Q1 pgre Amortization Of Above And Below Market Leases Year Two
AmortizationOfAboveAndBelowMarketLeasesYearTwo
-5039000
CY2021Q1 pgre Amortization Of Above And Below Market Leases Year Three
AmortizationOfAboveAndBelowMarketLeasesYearThree
-5978000
CY2021Q1 pgre Amortization Of Above And Below Market Leases Year Four
AmortizationOfAboveAndBelowMarketLeasesYearFour
-4633000
CY2021Q1 pgre Amortization Of Above And Below Market Leases Year Five
AmortizationOfAboveAndBelowMarketLeasesYearFive
-2759000
CY2021Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0332
CY2020Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
3819434000
CY2021Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
16902000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
18695000
CY2021Q1 pgre Notes And Loans Payable Net
NotesAndLoansPayableNet
3814962000
CY2020Q4 pgre Notes And Loans Payable Net
NotesAndLoansPayableNet
3800739000
CY2021Q1 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
438937000
CY2020Q4 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
437161000
CY2021Q1 pgre Minority Interest In Real Estate Funds
MinorityInterestInRealEstateFunds
79114000
CY2020Q4 pgre Minority Interest In Real Estate Funds
MinorityInterestInRealEstateFunds
79017000
CY2021Q1 us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
one-for-one
CY2021Q1 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
359411000
CY2020Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
346379000
CY2020 pgre Shares Repurchased During Period Price Per Share
SharesRepurchasedDuringPeriodPricePerShare
8.69
CY2019Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
200000000
CY2020 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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CY2020Q1 pgre Shares Repurchased During Period Price Per Share
SharesRepurchasedDuringPeriodPricePerShare
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CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
100000000
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
80000000
CY2021Q1 pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
3422000
CY2020Q1 pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
-14568000
CY2021Q1 pgre Pro Rata Share Of Reclassification From Accumulated Other Comprehensive Income Related To Unconsolidated Joint Ventures
ProRataShareOfReclassificationFromAccumulatedOtherComprehensiveIncomeRelatedToUnconsolidatedJointVentures
962000
CY2020Q1 pgre Pro Rata Share Of Reclassification From Accumulated Other Comprehensive Income Related To Unconsolidated Joint Ventures
ProRataShareOfReclassificationFromAccumulatedOtherComprehensiveIncomeRelatedToUnconsolidatedJointVentures
-93000
CY2021Q1 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
219760000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
5122256000
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
187640000
CY2021Q1 us-gaap Marketable Securities
MarketableSecurities
25041000
CY2021Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
25041000
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
17178000
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
17178000
CY2021Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
160629000
CY2020Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
160676000
CY2021Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
12517000
CY2020Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
14749000
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
173146000
CY2020Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
175425000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
484013000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
625476000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
594085000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
566940000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
509519000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
414600000
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
1927623000
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
1380000
CY2020Q1 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Discontinued Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnDiscontinuedOperation
7000
CY2020Q1 pgre Numerator For Income Loss Per Common Share Basic And Diluted On Discontinued Operation
NumeratorForIncomeLossPerCommonShareBasicAndDilutedOnDiscontinuedOperation
1373000
CY2021Q1 pgre Numerator For Income Loss Per Common Share Basic And Diluted
NumeratorForIncomeLossPerCommonShareBasicAndDiluted
-3597000
CY2020Q1 pgre Numerator For Income Loss Per Common Share Basic And Diluted
NumeratorForIncomeLossPerCommonShareBasicAndDiluted
3330000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6670000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6330000
CY2021Q1 us-gaap Other Income
OtherIncome
1350000
CY2020Q1 us-gaap Other Income
OtherIncome
2231000
CY2021Q1 pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
8020000
CY2020Q1 pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
8561000
CY2021Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
390000
CY2020Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
988000
CY2021Q1 pgre Investment Income Loss On Investments In Deferred Compensation Plan
InvestmentIncomeLossOnInvestmentsInDeferredCompensationPlan
912000
CY2020Q1 pgre Investment Income Loss On Investments In Deferred Compensation Plan
InvestmentIncomeLossOnInvestmentsInDeferredCompensationPlan
-1984000
CY2021Q1 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
1302000
CY2020Q1 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
-996000
CY2021Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
32420000
CY2020Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
34301000
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2319000
CY2020Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2318000
CY2021Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
34739000
CY2020Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
36619000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5486000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5397000
CY2021Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3578000
CY2020Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1968000
CY2021Q1 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
19000
CY2020Q1 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
11000
CY2021Q1 pgre Numerator For Income From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeFromContinuingOperationsPerCommonShareBasicAndDiluted
-3597000
CY2020Q1 pgre Numerator For Income From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeFromContinuingOperationsPerCommonShareBasicAndDiluted
1957000
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.02
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.01
CY2020Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic And Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare
0.00
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.02
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23609000
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25485000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218666000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
227769000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
36000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218666000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
227805000
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2021Q1 pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
174496000
CY2021Q1 pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
66618000
CY2021Q1 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
10326000
CY2021Q1 pgre Net Operating Income
NetOperatingIncome
118204000
CY2020Q1 pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
181318000
CY2020Q1 pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
68465000
CY2020Q1 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
13392000
CY2020Q1 pgre Net Operating Income
NetOperatingIncome
126245000
CY2021Q1 pgre Net Operating Income
NetOperatingIncome
118204000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6670000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6330000
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
58305000
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
58427000
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14364000
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12249000
CY2021Q1 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
10326000
CY2020Q1 pgre Net Operating Income From Equity Method Investments
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13392000
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-5316000
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-4221000
CY2021Q1 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
1302000
CY2020Q1 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
-996000
CY2021Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
34739000
CY2020Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
36619000
CY2020Q1 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-2211000
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-101000
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-151000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3025000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4309000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1141000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
604000
CY2021Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
1884000
CY2020Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
3705000
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1521000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
1884000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
5226000
CY2021Q1 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
5728000
CY2020Q1 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
1514000
CY2021Q1 pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
85000
CY2020Q1 pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
23000
CY2021Q1 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-351000
CY2020Q1 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
341000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-3578000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
3348000
CY2021Q1 us-gaap Assets
Assets
8571948000
CY2020Q4 us-gaap Assets
Assets
8554097000

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