2021 Q3 Form 10-K Financial Statement

#000156459022005934 Filed on February 22, 2022

View on sec.gov

Income Statement

Concept 2021 Q3 2021 2020 Q4
Revenue $6.561M $28.47M $182.4M
YoY Change -96.29% 1.44% -2.36%
Cost Of Revenue $67.13M $265.4M $68.40M
YoY Change -1.13% -0.81% 4.11%
Gross Profit $112.0M $461.3M $114.0M
YoY Change 2.85% 3.28% -5.86%
Gross Profit Margin 1707.06% 1620.3% 62.51%
Selling, General & Admin $13.26M $59.13M $18.00M
YoY Change -21.09% -8.89% 5.26%
% of Gross Profit 11.84% 12.82% 15.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.52M $232.5M $59.20M
YoY Change -2.34% -1.45% -0.5%
% of Gross Profit 51.36% 50.39% 51.93%
Operating Expenses $70.78M $558.0M $77.10M
YoY Change -6.38% 85.93% 2.12%
Operating Profit $41.22M -$96.63M $36.90M
YoY Change 23.79% -165.91% -19.08%
Interest Expense -$35.82M -$165.7M -$39.70M
YoY Change -9.77% 3.06% -13.32%
% of Operating Profit -86.9% -107.59%
Other Income/Expense, Net $189.0K -$134.0K $1.900M
YoY Change -237.96% -83.74% 137.5%
Pretax Income $5.505M $5.702M -$1.400M
YoY Change -193.67% -145.15% -88.62%
Income Tax $873.0K $3.643M $400.0K
% Of Pretax Income 15.86% 63.89%
Net Earnings -$2.055M -$20.35M -$14.82M
YoY Change -70.47% -17.61% -70.44%
Net Earnings / Revenue -31.32% -71.49% -8.13%
Basic Earnings Per Share -$0.01 -$0.09 -$0.07
Diluted Earnings Per Share -$9.396K -$0.09 -$0.07
COMMON SHARES
Basic Shares Outstanding 218.7M 218.7M
Diluted Shares Outstanding 218.7M 218.7M

Balance Sheet

Concept 2021 Q3 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $544.3M $524.9M $451.7M
YoY Change 2.52% 20.81% 37.78%
Cash & Equivalents $522.5M $524.9M $434.5M
Short-Term Investments $21.71M $17.18M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $11.39M $15.58M $17.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $506.0M $540.5M $452.0M
YoY Change -4.75% 19.58% 24.76%
LONG-TERM ASSETS
Property, Plant & Equipment $6.928B $6.915B $6.997B
YoY Change -1.24% -1.17% -2.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $417.6M $419.5M $425.6M
YoY Change -2.99% -1.43% -7.38%
Other Assets $481.8M $459.7M $477.3M
YoY Change -17.07% -3.69% 4.17%
Total Long-Term Assets $8.040B $7.954B $8.102B
YoY Change -2.85% -1.83% -3.22%
TOTAL ASSETS
Total Short-Term Assets $506.0M $540.5M $452.0M
Total Long-Term Assets $8.040B $7.954B $8.102B
Total Assets $8.546B $8.495B $8.554B
YoY Change -2.96% -0.7% -2.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $117.8M $116.2M $101.9M
YoY Change 7.84% 14.03% -13.2%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $134.7M $133.1M $118.7M
YoY Change 0.94% 12.12% -16.82%
LONG-TERM LIABILITIES
Long-Term Debt $3.834B $3.836B $3.801B
YoY Change -4.11% 0.92% -0.53%
Other Long-Term Liabilities $113.3M $70.82M $118.9M
YoY Change -6.39% -40.43% -14.95%
Total Long-Term Liabilities $3.948B $3.906B $3.920B
YoY Change -4.18% -0.34% -1.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $134.7M $133.1M $118.7M
Total Long-Term Liabilities $3.948B $3.906B $3.920B
Total Liabilities $4.957B $4.906B $4.038B
YoY Change -3.11% 0.11% -1.58%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $4.122B
YoY Change -0.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.589B $3.588B $3.653B
YoY Change
Total Liabilities & Shareholders Equity $8.546B $8.495B $8.554B
YoY Change -2.96% -0.7% -2.06%

Cashflow Statement

Concept 2021 Q3 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$2.055M -$20.35M -$14.82M
YoY Change -70.47% -17.61% -70.44%
Depreciation, Depletion And Amortization $57.52M $232.5M $59.20M
YoY Change -2.34% -1.45% -0.5%
Cash From Operating Activities $53.60M $244.3M $97.70M
YoY Change 46.85% 2.96% 23.98%
INVESTING ACTIVITIES
Capital Expenditures -$22.02M -$112.0M -$29.20M
YoY Change 60.73% 25.14% -13.61%
Acquisitions
YoY Change
Other Investing Activities -$4.315M $8.518M $88.70M
YoY Change 43.83% -93.42% -138.37%
Cash From Investing Activities -$26.33M -$103.5M $59.50M
YoY Change 57.69% -358.48% -122.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $850.0M $850.0M
YoY Change
Cash From Financing Activities -12.56M -76.48M -238.9M
YoY Change -57.13% -46.69% -222.95%
NET CHANGE
Cash From Operating Activities 53.60M 244.3M 97.70M
Cash From Investing Activities -26.33M -103.5M 59.50M
Cash From Financing Activities -12.56M -76.48M -238.9M
Net Change In Cash 14.71M 64.34M -81.70M
YoY Change -254.79% -51.93% -1108.64%
FREE CASH FLOW
Cash From Operating Activities $53.60M $244.3M $97.70M
Capital Expenditures -$22.02M -$112.0M -$29.20M
Free Cash Flow $75.62M $356.3M $126.9M
YoY Change 50.64% 9.04% 12.7%

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CY2021 us-gaap Nature Of Operations
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:3.33%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">                   </p> <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="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;color:#auto;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:bold;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;">1.</span></p></td> <td valign="top"> <p id="NOTES_TO_CONSOLIDATED_FINANCIAL_STATEMEN" style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="font-weight:normal;color:#000000;"/><span style="color:#000000;">Organization and Business</span></p></td></tr></table></div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-size:9pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-size:9pt;"> </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-size:10pt;font-family:Times New Roman;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, a Delaware limited partnership (the “Operating 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. 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 December 31, 2021. </p> <p style="text-align:justify;margin-top:10pt;margin-bottom: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 of December 31, 2021, we owned and/or managed a portfolio aggregating 13.9 million square feet comprised of:</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.33%;font-size:8pt;"> </p> <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="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;">Seven wholly and partially owned properties aggregating 8.6 million square feet in New York, comprised of 8.2 million square feet of office space and 0.4 million square feet of retail, theater and amenity space;</span></p></td></tr></table></div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:6.67%;text-indent:0%;font-size:8pt;"> </p> <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="text-align:justify;margin-top:0pt;margin-bottom:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;">Six wholly and partially owned properties aggregating 4.3 million square feet in San Francisco, comprised of 4.1 million square feet of office space and 0.2 million square feet of retail space; and</span></p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.33%;text-indent:-3.33%;font-size:8pt;"> </p> <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="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:3.33%;white-space:nowrap" valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;">Six managed properties aggregating 1.0 million square feet in New York and Washington, D.C.</span></p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:12.33%;text-indent:-3.33%;font-size:8pt;"> </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;">Additionally, we have an investment management business, where we serve as the general partner of real estate funds for institutional investors and high net-worth individuals.</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%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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. While our buildings have remained open throughout the pandemic, a majority of our tenants have worked remotely as new variants of the virus that cause COVID-19 emerged during 2021. The emergence of new variants of the virus that cause COVID-19 or our tenants’ decision to work remotely did not have a material impact on our portfolio-wide rent collections during 2021. For the year ended December 31, 2021, we collected</span><span style="color:#000000;"> 99.6% of rents, comprised of 99.9% from office tenants (which account for approximately 96.5% of our annualized rents) and 92.9% from non-office tenants (which account for the remaining 3.5% of our annualized rents). Notwithstanding, we continue to navigate the pandemic and monitor its impact on our business. Given the emergence of new variants of the virus that cause COVID-19 during 2021 and the possibility of future variants, we are precluded at this time from making any predictions as the ultimate impact it may have on our future financial condition, results of operations and cash flows.</span></p>
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CY2021 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<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-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Derivative Instruments and Hedging Activities</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;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 record all derivatives on our consolidated balance sheets at fair value in accordance with Accounting Standards Codification (“ASC”) Topic 815, <span style="font-style:italic;">Derivatives and Hedging</span>. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have designated a derivative as a hedge and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. We use derivative financial instruments in the normal course of business to selectively manage or hedge a portion of the risk associated with our indebtedness and interest payments. Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish these objectives, we primarily use interest rate swaps and interest rate caps. Interest rate swaps and interest rate caps that are designated as hedges are so designated at the inception of the contract. We require that hedging derivative instruments be highly effective in reducing the risk exposure that they are designated to hedge. The changes in the fair value of interest rate swaps and interest rate caps that are designated as hedges are recognized in “other comprehensive income (loss)” (outside of earnings) and subsequently reclassified to earnings over the term that the hedged transaction affects earnings.</p>
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-36899000
CY2021 pgre Income Tax Reconciliation Straight Lining Of Rents And Amortization Of Above And Below Market Leases Net Adjustments
IncomeTaxReconciliationStraightLiningOfRentsAndAmortizationOfAboveAndBelowMarketLeasesNetAdjustments
-3082000
CY2020 pgre Income Tax Reconciliation Straight Lining Of Rents And Amortization Of Above And Below Market Leases Net Adjustments
IncomeTaxReconciliationStraightLiningOfRentsAndAmortizationOfAboveAndBelowMarketLeasesNetAdjustments
10462000
CY2021 pgre Income Tax Reconciliation Nondeductible Expense Deferred Compensation Plan
IncomeTaxReconciliationNondeductibleExpenseDeferredCompensationPlan
-28793000
CY2021Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
408096000
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
412724000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-24896000
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-18619000
CY2019 pgre Income Tax Reconciliation Nondeductible Expense Deferred Compensation Plan
IncomeTaxReconciliationNondeductibleExpenseDeferredCompensationPlan
500000
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
38237000
CY2020 pgre Income Tax Reconciliation Nondeductible Expense Sale Of Real Estate
IncomeTaxReconciliationNondeductibleExpenseSaleOfRealEstate
55640000
CY2019 pgre Income Tax Reconciliation Nondeductible Expense Sale Of Real Estate
IncomeTaxReconciliationNondeductibleExpenseSaleOfRealEstate
12107000
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-27476000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
11095000
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-12253000
CY2021 pgre Taxable Income Loss
TaxableIncomeLoss
60562000
CY2020 pgre Taxable Income Loss
TaxableIncomeLoss
89147000
CY2019 pgre Taxable Income Loss
TaxableIncomeLoss
89516000
CY2021 pgre Percentage Of Ordinary Income
PercentageOfOrdinaryIncome
0.904
CY2020 pgre Percentage Of Ordinary Income
PercentageOfOrdinaryIncome
0.525
CY2019 pgre Percentage Of Ordinary Income
PercentageOfOrdinaryIncome
0.807
CY2021 pgre Percentage Of Long Term Capital Gain
PercentageOfLongTermCapitalGain
0.082
CY2020 pgre Percentage Of Long Term Capital Gain
PercentageOfLongTermCapitalGain
0.475
CY2019 pgre Percentage Of Long Term Capital Gain
PercentageOfLongTermCapitalGain
0.155
CY2021 pgre Percentage Of Return Of Capital
PercentageOfReturnOfCapital
0.014
CY2020 pgre Percentage Of Return Of Capital
PercentageOfReturnOfCapital
0.000
CY2019 pgre Percentage Of Return Of Capital
PercentageOfReturnOfCapital
0.038
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.280
CY2021 pgre Percentage Of Dividend Distribution
PercentageOfDividendDistribution
1.000
CY2020 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.400
CY2020 pgre Percentage Of Dividend Distribution
PercentageOfDividendDistribution
1.000
CY2019 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.400
CY2019 pgre Percentage Of Dividend Distribution
PercentageOfDividendDistribution
1.000
CY2021Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.07
CY2020Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.07
CY2019Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </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%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">The preparation of financial statements in conformity with GAAP requires us to make 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.</span></p>
CY2021Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
11421000
CY2020Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
12917000
CY2021 pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
782000
CY2020 pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
272000
CY2019 pgre Income Loss From Unconsolidated Real Estate Fund
IncomeLossFromUnconsolidatedRealEstateFund
-343000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
371555000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
436851000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
252142000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
283332000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
119413000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
153519000
CY2021Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
151118000
CY2020Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
163977000
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
105790000
CY2020Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
107981000
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
45328000
CY2020Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
55996000
CY2021Q4 pgre Amortization Of Above And Below Market Leases Next Twelve Months
AmortizationOfAboveAndBelowMarketLeasesNextTwelveMonths
-1344000
CY2021Q4 pgre Amortization Of Above And Below Market Leases Year Two
AmortizationOfAboveAndBelowMarketLeasesYearTwo
-5080000
CY2021Q4 pgre Amortization Of Above And Below Market Leases Year Three
AmortizationOfAboveAndBelowMarketLeasesYearThree
-6020000
CY2021Q4 pgre Amortization Of Above And Below Market Leases Year Four
AmortizationOfAboveAndBelowMarketLeasesYearFour
-4674000
CY2021Q4 pgre Amortization Of Above And Below Market Leases Year Five
AmortizationOfAboveAndBelowMarketLeasesYearFive
-2801000
CY2021Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
850000000
CY2021Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0340
CY2021Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
3858000000
CY2020Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
3819434000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
22380000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
18695000
CY2021Q4 pgre Notes And Loans Payable Net
NotesAndLoansPayableNet
3835620000
CY2020Q4 pgre Notes And Loans Payable Net
NotesAndLoansPayableNet
3800739000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
273000000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
975000000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1360000000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1250000000
CY2021Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
6691000
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
CY2021Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
80000000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
6069000
CY2019 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-23147000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
788000
CY2019 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-4922000
CY2019 pgre Other Comprehensive Income Loss Reclassified To Loss On Early Extinguishment Of Debt
OtherComprehensiveIncomeLossReclassifiedToLossOnEarlyExtinguishmentOfDebt
11258000
CY2021 pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
5562000
CY2020 pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
-16141000
CY2019 pgre Pro Rata Share Of Other Comprehensive Income Loss Of Unconsolidated Joint Ventures Before Reclassification After Tax1
ProRataShareOfOtherComprehensiveIncomeLossOfUnconsolidatedJointVenturesBeforeReclassificationAfterTax1
206000
CY2021 pgre Pro Rata Share Of Reclassification From Accumulated Other Comprehensive Income Related To Unconsolidated Joint Ventures
ProRataShareOfReclassificationFromAccumulatedOtherComprehensiveIncomeRelatedToUnconsolidatedJointVentures
4003000
CY2020 pgre Pro Rata Share Of Reclassification From Accumulated Other Comprehensive Income Related To Unconsolidated Joint Ventures
ProRataShareOfReclassificationFromAccumulatedOtherComprehensiveIncomeRelatedToUnconsolidatedJointVentures
2247000
CY2021Q4 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
428833000
CY2020Q4 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
437161000
CY2021Q4 pgre Minority Interest In Real Estate Funds
MinorityInterestInRealEstateFunds
81925000
CY2020Q4 pgre Minority Interest In Real Estate Funds
MinorityInterestInRealEstateFunds
79017000
CY2021 us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
one-for-one
CY2021Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
356111000
CY2020Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
346379000
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
181315000
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
187640000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
6997000
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
17178000
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
17178000
CY2021 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
635513000
CY2020 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
627352000
CY2019 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
647345000
CY2021 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
54905000
CY2020 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
51663000
CY2019 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
62163000
CY2021 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
690418000
CY2020 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
679015000
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
709508000
CY2021 pgre Writeoff Of Straight Line Rent Receivable
WriteoffOfStraightLineRentReceivable
33205000
CY2021 pgre Accounts Receivable Reserve Expense
AccountsReceivableReserveExpense
2051000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
635304000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
625493000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
612419000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
557699000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
462128000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
2294340000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
5187383000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28473000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28070000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22744000
CY2021 us-gaap Other Income
OtherIncome
7895000
CY2020 us-gaap Other Income
OtherIncome
7152000
CY2019 us-gaap Other Income
OtherIncome
11502000
CY2021 pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
36368000
CY2020 pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
35222000
CY2019 pgre Fee And Other Real Estate Revenue
FeeAndOtherRealEstateRevenue
34246000
CY2021 us-gaap Interest And Other Income
InterestAndOtherIncome
1183000
CY2020 us-gaap Interest And Other Income
InterestAndOtherIncome
2054000
CY2019 us-gaap Interest And Other Income
InterestAndOtherIncome
5484000
CY2021 pgre Investment Income Loss On Investments In Deferred Compensation Plan
InvestmentIncomeLossOnInvestmentsInDeferredCompensationPlan
1834000
CY2020 pgre Investment Income Loss On Investments In Deferred Compensation Plan
InvestmentIncomeLossOnInvestmentsInDeferredCompensationPlan
2436000
CY2019 pgre Investment Income Loss On Investments In Deferred Compensation Plan
InvestmentIncomeLossOnInvestmentsInDeferredCompensationPlan
3906000
CY2019 pgre Preferred Equity Investment Income
PreferredEquityInvestmentIncome
454000
CY2021 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
3017000
CY2020 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
4490000
CY2019 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
9844000
CY2021 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
132887000
CY2020 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
134931000
CY2019 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
137356000
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
9127000
CY2020 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
9277000
CY2019 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
19323000
CY2021 us-gaap Interest Expense Debt
InterestExpenseDebt
142014000
CY2020 us-gaap Interest Expense Debt
InterestExpenseDebt
144208000
CY2019 us-gaap Interest Expense Debt
InterestExpenseDebt
156679000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
18612000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
19239000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
22860000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.340
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M18D
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.006
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.030
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.06
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
17.50
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.06
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
17.06
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
17.06
CY2021 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-20354000
CY2020 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-20063000
CY2019 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-6418000
CY2021 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
70000
CY2020 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
44000
CY2019 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Continuing Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnContinuingOperation
27000
CY2021 pgre Numerator For Income Loss From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeLossFromContinuingOperationsPerCommonShareBasicAndDiluted
-20424000
CY2020 pgre Numerator For Income Loss From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeLossFromContinuingOperationsPerCommonShareBasicAndDiluted
-20107000
CY2019 pgre Numerator For Income Loss From Continuing Operations Per Common Share Basic And Diluted
NumeratorForIncomeLossFromContinuingOperationsPerCommonShareBasicAndDiluted
-6445000
CY2020 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-4641000
CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-30481000
CY2020 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Discontinued Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnDiscontinuedOperation
22000
CY2019 pgre Earnings Loss Allocated To Unvested Participating Securities Basic And Diluted On Discontinued Operation
EarningsLossAllocatedToUnvestedParticipatingSecuritiesBasicAndDilutedOnDiscontinuedOperation
44000
CY2020 pgre Numerator For Income Loss Per Common Share Basic And Diluted On Discontinued Operation
NumeratorForIncomeLossPerCommonShareBasicAndDilutedOnDiscontinuedOperation
-4663000
CY2019 pgre Numerator For Income Loss Per Common Share Basic And Diluted On Discontinued Operation
NumeratorForIncomeLossPerCommonShareBasicAndDilutedOnDiscontinuedOperation
-30525000
CY2021 pgre Numerator For Income Loss Per Common Share Basic And Diluted
NumeratorForIncomeLossPerCommonShareBasicAndDiluted
-20424000
CY2020 pgre Numerator For Income Loss Per Common Share Basic And Diluted
NumeratorForIncomeLossPerCommonShareBasicAndDiluted
-24770000
CY2019 pgre Numerator For Income Loss Per Common Share Basic And Diluted
NumeratorForIncomeLossPerCommonShareBasicAndDiluted
-36970000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218701000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
222436000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
231538000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218701000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
222436000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
231538000
CY2021 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.09
CY2020 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.09
CY2019 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.03
CY2020 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic And Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare
-0.02
CY2019 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic And Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare
-0.13
CY2021 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
CY2020 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2019 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.16
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23775000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23540000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27191000
CY2020 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
48631000
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2021 pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
698313000
CY2021 pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
265438000
CY2021 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
43597000
CY2021 pgre Net Operating Income
NetOperatingIncome
476472000
CY2020 pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
700410000
CY2020 pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
273440000
CY2020 pgre Net Operating Income
NetOperatingIncome
475601000
CY2019 pgre Property Related Revenues Including Discontinued Operations
PropertyRelatedRevenuesIncludingDiscontinuedOperations
746436000
CY2019 pgre Operating Costs And Expenses Including Discontinued Operations
OperatingCostsAndExpensesIncludingDiscontinuedOperations
274836000
CY2019 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
22409000
CY2019 pgre Net Operating Income
NetOperatingIncome
494009000
CY2021 pgre Net Operating Income
NetOperatingIncome
476472000
CY2020 pgre Net Operating Income
NetOperatingIncome
475601000
CY2019 pgre Net Operating Income
NetOperatingIncome
494009000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28473000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28070000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22744000
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
232487000
CY2020 us-gaap Depreciation And Amortization
DepreciationAndAmortization
235200000
CY2019 us-gaap Depreciation And Amortization
DepreciationAndAmortization
240104000
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
59132000
CY2020 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
64917000
CY2019 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
68556000
CY2021 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
43597000
CY2019 pgre Net Operating Income From Equity Method Investments
NetOperatingIncomeFromEquityMethodInvestments
22409000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-24896000
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-18619000
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-4706000
CY2021 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
3017000
CY2020 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
4490000
CY2019 pgre Interest And Other Income Loss Net
InterestAndOtherIncomeLossNet
9844000
CY2021 us-gaap Interest Expense Debt
InterestExpenseDebt
142014000
CY2020 us-gaap Interest Expense Debt
InterestExpenseDebt
144208000
CY2019 us-gaap Interest Expense Debt
InterestExpenseDebt
156679000
CY2019 pgre Gains Losses On Extinguishment Of Debt Including Swap Breakage Costs
GainsLossesOnExtinguishmentOfDebtIncludingSwapBreakageCosts
-11989000
CY2020 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-8390000
CY2019 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-15292000
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-134000
CY2020 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-824000
CY2019 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2342000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5702000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-12628000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4520000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3643000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1493000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
312000
CY2021 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
2059000
CY2020 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-14121000
CY2019 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
4208000
CY2020 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-5075000
CY2019 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-33811000
CY2021 us-gaap Profit Loss
ProfitLoss
2059000
CY2020 us-gaap Profit Loss
ProfitLoss
-19196000
CY2019 us-gaap Profit Loss
ProfitLoss
-29603000
CY2021 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
21538000
CY2020 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
9257000
CY2019 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
11022000
CY2021 pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
2893000
CY2020 pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
-1450000
CY2019 pgre Noncontrolling Interest In Net Income Loss Real Estate Funds
NoncontrollingInterestInNetIncomeLossRealEstateFunds
313000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1112977000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
966697000
CY2021 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-2018000
CY2020 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-2299000
CY2019 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-4039000
CY2021Q4 us-gaap Assets
Assets
8494562000
CY2020Q4 us-gaap Assets
Assets
8554097000
CY2019Q4 us-gaap Assets
Assets
8734135000
CY2021 dei Auditor Firm
AuditorFirmId
34
CY2021Q4 pgre Sec Schedule Iii Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Buildings And Improvements Other
SECScheduleIIIRealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionBuildingsAndImprovementsOther
21638000
CY2021Q4 pgre Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements Other
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovementsOther
21638000
CY2021Q4 pgre Real Estate Gross At Carrying Value Other
RealEstateGrossAtCarryingValueOther
21638000
CY2021 pgre Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense Other
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpenseOther
5857000
CY2021Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
3858000000
CY2021Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
1966237000
CY2021Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
5430368000
CY2021Q4 us-gaap Sec Schedule Iii Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Buildings And Improvements
SECScheduleIIIRealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionBuildingsAndImprovements
631456000
CY2021Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
1966237000
CY2021Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
6061824000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
8028061000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1112977000
CY2021Q4 pgre Net Basis Difference Of Assets And Liabilities Between Tax Basis And Gaap Basis
NetBasisDifferenceOfAssetsAndLiabilitiesBetweenTaxBasisAndGaapBasis
2400000000
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7963315000
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7889885000
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7793784000
CY2021 us-gaap Real Estate Improvements
RealEstateImprovements
111340000
CY2020 us-gaap Real Estate Improvements
RealEstateImprovements
82571000
CY2019 us-gaap Real Estate Improvements
RealEstateImprovements
104408000
CY2021 pgre Real Estate Cost Of Real Estate Sold And Written Off
RealEstateCostOfRealEstateSoldAndWrittenOff
46594000
CY2020 pgre Real Estate Cost Of Real Estate Sold And Written Off
RealEstateCostOfRealEstateSoldAndWrittenOff
9141000
CY2019 pgre Real Estate Cost Of Real Estate Sold And Written Off
RealEstateCostOfRealEstateSoldAndWrittenOff
8307000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
8028061000
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7963315000
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7889885000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
966697000
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
790216000
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
617974000
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
192874000
CY2020 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
185622000
CY2019 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
180549000
CY2021 pgre Real Estate Accumulated Depreciation Real Estate Sold And Written Off
RealEstateAccumulatedDepreciationRealEstateSoldAndWrittenOff
46594000
CY2020 pgre Real Estate Accumulated Depreciation Real Estate Sold And Written Off
RealEstateAccumulatedDepreciationRealEstateSoldAndWrittenOff
9141000
CY2019 pgre Real Estate Accumulated Depreciation Real Estate Sold And Written Off
RealEstateAccumulatedDepreciationRealEstateSoldAndWrittenOff
8307000

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