2021 Q3 Form 10-Q Financial Statement

#000156459021052336 Filed on October 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $6.561M $176.8M
YoY Change -96.29% -7.57%
Cost Of Revenue $67.13M $67.90M
YoY Change -1.13% -1.31%
Gross Profit $112.0M $108.9M
YoY Change 2.85% -11.03%
Gross Profit Margin 1707.06% 61.6%
Selling, General & Admin $13.26M $16.80M
YoY Change -21.09% 3.07%
% of Gross Profit 11.84% 15.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.52M $58.90M
YoY Change -2.34% -6.66%
% of Gross Profit 51.36% 54.09%
Operating Expenses $70.78M $75.60M
YoY Change -6.38% -1.82%
Operating Profit $41.22M $33.30M
YoY Change 23.79% -26.65%
Interest Expense -$35.82M -$39.70M
YoY Change -9.77% -215.07%
% of Operating Profit -86.9% -119.22%
Other Income/Expense, Net $189.0K -$137.0K
YoY Change -237.96% -76.38%
Pretax Income $5.505M -$5.877M
YoY Change -193.67% -179.67%
Income Tax $873.0K $393.0K
% Of Pretax Income 15.86%
Net Earnings -$2.055M -$6.958M
YoY Change -70.47% -198.25%
Net Earnings / Revenue -31.32% -3.94%
Basic Earnings Per Share -$0.01 -$0.03
Diluted Earnings Per Share -$9.396K -$0.03
COMMON SHARES
Basic Shares Outstanding 218.7M 221.5M
Diluted Shares Outstanding 218.7M 221.5M

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $544.3M $530.9M
YoY Change 2.52% 66.24%
Cash & Equivalents $522.5M $515.9M
Short-Term Investments $21.71M $14.93M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $11.39M $15.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $506.0M $531.2M
YoY Change -4.75% 66.78%
LONG-TERM ASSETS
Property, Plant & Equipment $6.928B $7.016B
YoY Change -1.24% -3.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $417.6M $430.5M
YoY Change -2.99% 76.72%
Other Assets $481.8M $581.0M
YoY Change -17.07% 29.6%
Total Long-Term Assets $8.040B $8.275B
YoY Change -2.85% 0.17%
TOTAL ASSETS
Total Short-Term Assets $506.0M $531.2M
Total Long-Term Assets $8.040B $8.275B
Total Assets $8.546B $8.806B
YoY Change -2.96% 2.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $117.8M $109.2M
YoY Change 7.84% -8.54%
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 $134.7M $133.4M
YoY Change 0.94% -7.81%
LONG-TERM LIABILITIES
Long-Term Debt $3.834B $3.999B
YoY Change -4.11% 11.8%
Other Long-Term Liabilities $113.3M $121.0M
YoY Change -6.39% -22.24%
Total Long-Term Liabilities $3.948B $4.120B
YoY Change -4.18% 10.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $134.7M $133.4M
Total Long-Term Liabilities $3.948B $4.120B
Total Liabilities $4.957B $5.116B
YoY Change -3.11% 31.96%
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 $3.589B $3.690B
YoY Change
Total Liabilities & Shareholders Equity $8.546B $8.807B
YoY Change -2.96% 2.64%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$2.055M -$6.958M
YoY Change -70.47% -198.25%
Depreciation, Depletion And Amortization $57.52M $58.90M
YoY Change -2.34% -6.66%
Cash From Operating Activities $53.60M $36.50M
YoY Change 46.85% -63.43%
INVESTING ACTIVITIES
Capital Expenditures -$22.02M -$13.70M
YoY Change 60.73% -29.02%
Acquisitions
YoY Change
Other Investing Activities -$4.315M -$3.000M
YoY Change 43.83% -101.38%
Cash From Investing Activities -$26.33M -$16.70M
YoY Change 57.69% -108.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $850.0M
YoY Change
Cash From Financing Activities -12.56M -29.30M
YoY Change -57.13% -89.58%
NET CHANGE
Cash From Operating Activities 53.60M 36.50M
Cash From Investing Activities -26.33M -16.70M
Cash From Financing Activities -12.56M -29.30M
Net Change In Cash 14.71M -9.500M
YoY Change -254.79% -155.56%
FREE CASH FLOW
Cash From Operating Activities $53.60M $36.50M
Capital Expenditures -$22.02M -$13.70M
Free Cash Flow $75.62M $50.20M
YoY Change 50.64% -57.85%

Facts In Submission

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us-gaap Nature Of Operations
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<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 September 30, 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 90.9% of, the Operating Partnership as of September 30, 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 caused 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 sought deferrals and/or short-term relief of their rental obligations and we provided relief to select tenants.</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;">The U.S. Food and Drug Administration has approved the use of one COVID-19 vaccine and has issued emergency use authorizations of two additional vaccines for the prevention of COVID-19. The availability of these vaccines has resulted in a significant portion of the population in New York and San Francisco being vaccinated and enabled New York and San Francisco to lift most COVID-19 restrictions. Notwithstanding the vaccination success, 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 fluidity of the 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>
CY2021Q3 us-gaap Number Of Real Estate Properties
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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 and nine months ended September 30, 2021, are not necessarily indicative of the operating results for the full year.</p>
CY2021Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
405391000
CY2021Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
223000
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-4268000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-20810000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-14444000
CY2021Q3 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
12225000
CY2020Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
12917000
CY2021Q3 pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
276000
CY2020Q3 pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
-56000
pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
604000
pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
85000
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
377109000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
436851000
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
249580000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
283332000
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
127529000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
153519000
CY2021Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
156104000
CY2020Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
163977000
CY2021Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
108249000
CY2020Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
107981000
CY2021Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
47855000
CY2020Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
55996000
CY2021Q3 pgre Amortization Of Above And Below Market Leases Next Twelve Months
AmortizationOfAboveAndBelowMarketLeasesNextTwelveMonths
-1345000
CY2021Q3 pgre Amortization Of Above And Below Market Leases Year Two
AmortizationOfAboveAndBelowMarketLeasesYearTwo
-5080000
CY2021Q3 pgre Amortization Of Above And Below Market Leases Year Three
AmortizationOfAboveAndBelowMarketLeasesYearThree
-6020000
CY2021Q3 pgre Amortization Of Above And Below Market Leases Year Four
AmortizationOfAboveAndBelowMarketLeasesYearFour
-4674000
CY2021Q3 pgre Amortization Of Above And Below Market Leases Year Five
AmortizationOfAboveAndBelowMarketLeasesYearFive
-2801000
CY2021Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
850000000
CY2021Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0340
CY2021Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
3858000000
CY2020Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
3819434000
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
23555000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
18695000
CY2021Q3 pgre Notes And Loans Payable Net
NotesAndLoansPayableNet
3834445000
CY2020Q4 pgre Notes And Loans Payable Net
NotesAndLoansPayableNet
3800739000
CY2021Q3 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
1053000
CY2019Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
200000000
CY2020 pgre Shares Repurchased During Period Price Per Share
SharesRepurchasedDuringPeriodPricePerShare
8.69
CY2020 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
120000000
pgre Shares Repurchased During Period Price Per Share
SharesRepurchasedDuringPeriodPricePerShare
8.98
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
108520000
CY2021Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
80000000
CY2020Q3 pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
-62000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
324000
CY2021Q3 pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
-88000
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
671000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
671000
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
324000
pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
2693000
pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
-16734000
CY2021Q3 pgre Pro Rata Share Of Reclassification From Accumulated Other Comprehensive Income Related To Unconsolidated Joint Ventures
ProRataShareOfReclassificationFromAccumulatedOtherComprehensiveIncomeRelatedToUnconsolidatedJointVentures
1016000
CY2020Q3 pgre Pro Rata Share Of Reclassification From Accumulated Other Comprehensive Income Related To Unconsolidated Joint Ventures
ProRataShareOfReclassificationFromAccumulatedOtherComprehensiveIncomeRelatedToUnconsolidatedJointVentures
966000
pgre Pro Rata Share Of Reclassification From Accumulated Other Comprehensive Income Related To Unconsolidated Joint Ventures
ProRataShareOfReclassificationFromAccumulatedOtherComprehensiveIncomeRelatedToUnconsolidatedJointVentures
2984000
pgre Pro Rata Share Of Reclassification From Accumulated Other Comprehensive Income Related To Unconsolidated Joint Ventures
ProRataShareOfReclassificationFromAccumulatedOtherComprehensiveIncomeRelatedToUnconsolidatedJointVentures
1281000
CY2021Q3 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
435142000
CY2020Q4 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
437161000
CY2021Q3 pgre Minority Interest In Real Estate Funds
MinorityInterestInRealEstateFunds
82209000
CY2020Q4 pgre Minority Interest In Real Estate Funds
MinorityInterestInRealEstateFunds
79017000
CY2021Q3 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
357185000
CY2020Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
346379000
CY2021Q3 us-gaap Marketable Securities
MarketableSecurities
21706000
CY2021Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
22841000
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
17178000
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
17178000
CY2021Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
158400000
CY2020Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
153065000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
478670000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
467609000
CY2021Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
12451000
CY2020Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
12355000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
39955000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
37225000
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
170851000
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
165420000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
518625000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
504834000
CY2020Q3 pgre Writeoff Of Straight Line Rent Receivable
WriteoffOfStraightLineRentReceivable
14863000
pgre Writeoff Of Straight Line Rent Receivable
WriteoffOfStraightLineRentReceivable
26172000
pgre Accounts Receivable Reserve Expense
AccountsReceivableReserveExpense
2051000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
161526000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
634446000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
620383000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
596696000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
541026000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
445087000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
2168408000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
5167572000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6561000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9153000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19432000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21692000
CY2021Q3 us-gaap Other Income
OtherIncome
1719000
CY2020Q3 us-gaap Other Income
OtherIncome
2202000
us-gaap Other Income
OtherIncome
4509000
us-gaap Other Income
OtherIncome
5353000
CY2021Q3 pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
8280000
CY2020Q3 pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
11355000
pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
23941000
pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
27045000
CY2021Q3 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
138000
CY2020Q3 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
1104000
pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
2510000
CY2021Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
33600000
CY2020Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
33472000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
98613000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
101463000
CY2021Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2666000
CY2020Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2320000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
7306000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6957000
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
36266000
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
35792000
us-gaap Interest Expense Debt
InterestExpenseDebt
105919000
us-gaap Interest Expense Debt
InterestExpenseDebt
108420000
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
4192000
CY2020Q3 us-gaap Share Based Compensation
ShareBasedCompensation
4503000
us-gaap Share Based Compensation
ShareBasedCompensation
14421000
us-gaap Share Based Compensation
ShareBasedCompensation
14141000
CY2021Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-2055000
CY2020Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-8921000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-21576000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-15187000
CY2021Q3 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
17000
CY2020Q3 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
14000
pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
54000
pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
40000
CY2021Q3 pgre Numerator For Income From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeFromContinuingOperationsPerCommonShareBasicAndDiluted
-2072000
CY2020Q3 pgre Numerator For Income From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeFromContinuingOperationsPerCommonShareBasicAndDiluted
-8935000
pgre Numerator For Income From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeFromContinuingOperationsPerCommonShareBasicAndDiluted
-21630000
pgre Numerator For Income From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeFromContinuingOperationsPerCommonShareBasicAndDiluted
-15227000
CY2020Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
1963000
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
5307000
CY2020Q3 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Discontinued Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnDiscontinuedOperation
4000
pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Discontinued Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnDiscontinuedOperation
14000
CY2020Q3 pgre Numerator For Income Loss Per Common Share Basic And Diluted On Discontinued Operation
NumeratorForIncomeLossPerCommonShareBasicAndDilutedOnDiscontinuedOperation
1959000
pgre Numerator For Income Loss Per Common Share Basic And Diluted On Discontinued Operation
NumeratorForIncomeLossPerCommonShareBasicAndDilutedOnDiscontinuedOperation
5293000
CY2021Q3 pgre Numerator For Income Loss Per Common Share Basic And Diluted
NumeratorForIncomeLossPerCommonShareBasicAndDiluted
-2072000
CY2020Q3 pgre Numerator For Income Loss Per Common Share Basic And Diluted
NumeratorForIncomeLossPerCommonShareBasicAndDiluted
-6976000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218706000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
221461000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218690000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
223593000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218706000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
221461000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218690000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
223593000
CY2021Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.01
CY2020Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.04
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.10
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.07
CY2020Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic And Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare
0.01
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic And Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare
0.03
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.03
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23862000
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22941000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23785000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23795000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2021Q3 pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
172570000
CY2021Q3 pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
67131000
CY2021Q3 pgre Net Operating Income
NetOperatingIncome
117066000
CY2020Q3 pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
171263000
CY2020Q3 pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
69349000
pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
523134000
pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
197821000
pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
521036000
pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
203526000
pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
36703000
CY2021Q3 pgre Net Operating Income
NetOperatingIncome
117066000
CY2020Q3 pgre Net Operating Income
NetOperatingIncome
114849000
pgre Net Operating Income
NetOperatingIncome
357823000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6561000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9153000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19432000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21692000
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
57522000
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
58889000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
175752000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
176032000
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13257000
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
16805000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
46039000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
46955000
CY2020Q3 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
12935000
pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
37097000
pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
36703000
CY2021Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
223000
CY2020Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-4268000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-20810000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-14444000
CY2021Q3 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
138000
CY2020Q3 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
1104000
pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
2510000
pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
2360000
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
36266000
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
35792000
us-gaap Interest Expense Debt
InterestExpenseDebt
105919000
us-gaap Interest Expense Debt
InterestExpenseDebt
108420000
CY2020Q3 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-2157000
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-6515000
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
189000
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-137000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
101000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-457000
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5505000
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5877000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1164000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11261000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
873000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
393000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2448000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1135000
CY2021Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
4632000
CY2020Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-6270000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3612000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-12396000
CY2020Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
2147000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
5815000
CY2021Q3 us-gaap Profit Loss
ProfitLoss
4632000
CY2020Q3 us-gaap Profit Loss
ProfitLoss
-4123000
us-gaap Profit Loss
ProfitLoss
-3612000
us-gaap Profit Loss
ProfitLoss
-6581000
CY2021Q3 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
3768000
CY2020Q3 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
3566000
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
16924000
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
5485000
CY2021Q3 pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
3123000
CY2020Q3 pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
-79000
pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
3179000
pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
-1291000
CY2021Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-204000
CY2020Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-652000
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-2139000
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-895000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-2055000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-6958000
us-gaap Net Income Loss
NetIncomeLoss
-21576000
us-gaap Net Income Loss
NetIncomeLoss
-9880000
CY2021Q3 us-gaap Assets
Assets
8545585000
CY2020Q4 us-gaap Assets
Assets
8554097000

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