XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Real estate, at cost:    
Land $ 1,966,237,000 $ 1,966,237,000
Buildings and improvements 6,103,782,000 6,061,824,000
Rental property, at cost 8,070,019,000 8,028,061,000
Accumulated depreciation and amortization (1,199,035,000) (1,112,977,000)
Real estate, net 6,870,984,000 6,915,084,000
Cash and cash equivalents 506,933,000 524,900,000
Restricted cash 24,934,000 4,766,000
Investments in unconsolidated joint ventures 429,418,000 408,096,000
Investments in unconsolidated real estate funds 14,156,000 11,421,000
Accounts and other receivables 17,788,000 15,582,000
Deferred rent receivable 336,736,000 332,735,000
Deferred charges, net of accumulated amortization of $61,033 and $70,666 119,431,000 122,177,000
Intangible assets, net of accumulated amortization of $234,001 and $252,142 104,929,000 119,413,000
Other assets 56,920,000 40,388,000
Total assets [1] 8,482,229,000 8,494,562,000
Liabilities and Equity    
Notes and mortgages payable, net of unamortized deferred financing costs of $20,032 and $22,380 3,837,968,000 3,835,620,000
Revolving credit facility 0 0
Accounts payable and accrued expenses 108,464,000 116,192,000
Dividends and distributions payable 18,787,000 16,895,000
Intangible liabilities, net of accumulated amortization of $97,607 and $105,790 41,119,000 45,328,000
Other liabilities 24,537,000 25,495,000
Total liabilities [1] 4,030,875,000 4,039,530,000
Commitments and contingencies
Paramount Group, Inc. equity:    
Common stock $0.01 par value per share; authorized 900,000,000 shares; issued and outstanding 225,625,481 and 218,991,795 shares in 2022 and 2021, respectively 2,255,000 2,190,000
Additional paid-in-capital 4,228,674,000 4,122,680,000
Earnings less than distributions (570,577,000) (538,845,000)
Accumulated other comprehensive income 36,840,000 2,138,000
Paramount Group, Inc. equity 3,697,192,000 3,588,163,000
Noncontrolling interests in:    
Consolidated joint ventures 412,189,000 428,833,000
Consolidated real estate fund 80,557,000 81,925,000
Operating Partnership (15,900,186 and 21,740,404 units outstanding) 261,416,000 356,111,000
Total equity 4,451,354,000 4,455,032,000
Total liabilities and equity $ 8,482,229,000 $ 8,494,562,000
[1] Represents the consolidated assets and liabilities of Paramount Group Operating Partnership LP, a Delaware limited partnership (the “Operating Partnership”). The Operating Partnership is a consolidated variable interest entity (“VIE”), of which we are the sole general partner and own approximately 93.4% as of June 30, 2022. As of June 30, 2022, the assets and liabilities of the Operating Partnership include $3,954,957 and $2,569,935 of assets and liabilities, respectively, of certain VIEs that are consolidated by the Operating Partnership. See Note 11, Variable Interest Entities (“VIEs”).