2.4.0.8100700 - Disclosure - Investment in Affiliatetruefalsefalse1false falsefalseQ2_2013_Durhttp://www.sec.gov/CIK0001401112duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Investment in Affiliate [Abstract]2false 2us-gaap_InvestmentsInAndAdvancesToAffiliatesTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div>7. Investment in Affiliate The following table is a reconciliation of the Company’s investment in affiliate as presented on the accompanying unaudited interim condensed consolidated balance sheet: <div align="center"><table cellspacing="0" style="vertical-align:top;font-family:Georgia;;border-collapse:collapse;margin-left:0pt;"><tr style=";height:14.15pt;"><td style="vertical-align:top;font-family:Georgia;;width:329.4pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;">Balance, December 31, 2012</td><td style="vertical-align:top;font-family:Georgia;;width:95.4pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;">$19,987,743</td></tr><tr style=";height:14.15pt;"><td style="vertical-align:top;font-family:Georgia;;width:329.4pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;">Equity in net income of affiliate</td><td style="vertical-align:top;font-family:Georgia;;width:95.4pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;">978,702</td></tr><tr style=";height:14.15pt;"><td style="vertical-align:top;font-family:Georgia;;width:329.4pt;vertical-align:middle;padding:0pt 5.4pt 0pt 5.4pt;">Equity in other comprehensive income of affiliate</td><td style="vertical-align:top;font-family:Georgia;;width:95.4pt;vertical-align:middle;padding:0pt 5.4pt 0pt 5.4pt;">106,709</td></tr><tr style=";height:14.15pt;"><td style="vertical-align:top;font-family:Georgia;;width:329.4pt;vertical-align:middle;padding:0pt 5.4pt 0pt 5.4pt;">Dividends received</td><td style="vertical-align:top;font-family:Georgia;;width:95.4pt;vertical-align:middle;padding:0pt 5.4pt 0pt 5.4pt;">(1,168,750)</td></tr><tr style=";height:14.15pt;"><td style="vertical-align:top;font-family:Georgia;;width:329.4pt;vertical-align:middle;padding:0pt 5.4pt 0pt 5.4pt;">Loss on investment in affiliate</td><td style="vertical-align:top;font-family:Georgia;;width:95.4pt;vertical-align:middle;padding:0pt 5.4pt 0pt 5.4pt;">(390,821)</td></tr><tr style=";height:14.15pt;"><td style="vertical-align:top;font-family:Georgia;;width:329.4pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;">Balance, June 30, 2013</td><td style="vertical-align:top;font-family:Georgia;;width:95.4pt;vertical-align:middle;border-top:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;border-top:solid windowtext 0.5pt;border-bottom:solid windowtext 0.5pt;padding:0pt 5.4pt 0pt 5.4pt;">$19,513,583</td></tr><tr><td style="margin:0;padding:0;border:none;width:329.4pt;" /><td style="margin:0;padding:0;border:none;width:95.4pt;" /></tr></table></div> The loss on investment in affiliate of $390,821 for the six months ended June 30, 2013, relates to the dilution effect from the Company’s non-participation in the public offering of 4,000,000 common shares of Box Ships, which was completed on March 18, 2013. As of December 31, 2012 and June 30, 2013, the Company held 3,437,500 shares or 16.4% and 13.8% of Box Ships’ common stock, respectively. Following such decrease, the Company has reassessed the accounting for the investment in Box Ships and concluded that the application of the equity method is still appropriate. Based on the closing price of Box Ships’ common share as of June 30, 2013, of $3.80, the fair value of the investment in Box Ships, which is considered to be determined through Level 1 inputs of the fair value hierarchy, was $13,062,500. As of June 30, 2013, the Company did not consider the difference between the fair value and the book value of the investment in Box Ships as other than temporary and therefore the investment was not impaired.</div>falsefalsefalsenonnum:textBlockItemTypenaTabular disclosure of investments in and advances to affiliates. Does not include the tabular disclosure of the disaggregation of investments in and advances to affiliates across legal entities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611322-123010 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 14 -Article 12 false0Investment in AffiliatefalseInvestment in AffiliateUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.prgn.com/20130630/role/InvestmentInEquityAffiliate12