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Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Reconciliation Net Loss Attributable to Estimated Taxable Income

The following table reconciles net loss attributable to Paramount Group, Inc. to estimated taxable income for the years ended December 31, 2022, 2021 and 2020.



	For the Year Ended December 31,
(Amounts in thousands)	2022			2021				2020
Net loss attributable to Paramount Group, Inc.	$	(36,403	)	$	(20,354	)		$	(24,704	)
Book to tax differences:
Straight-lining of rents and amortization of above and below-market leases, net		(5,780	)		3,082				(10,462	)
Depreciation and amortization		54,892			62,218				62,002
Stock-based compensation		17,607			16,933				17,766
Deferred compensation plan		-			(28,793	)	(1)		-
Our share of a real estate impairment loss of an unconsolidated joint venture		31,685			-				-
Sale of real estate		-			-				55,640
Other, net		20,352			27,476				(11,095	)
Estimated taxable income	$	82,353		$	60,562			$	89,147

(1)

In December 2021, the deferred compensation plan was terminated and the net proceeds were distributed to the plan participants.

Summary of Characterization of Dividend Distributions for Federal Income Tax Purposes

The following table sets forth the characterization of dividend distributions for federal income tax purposes for the years ended December 31, 2022, 2021 and 2020.


	For the Year Ended December 31,
	2022						2021						2020
	Amount			%			Amount			%			Amount			%
Ordinary income	$	0.373	(1)		100.0	%	$	0.253	(1)		90.4	%	$	0.210	(1)		52.5	%
Long-term capital gain		-			0.0	%		0.023			8.2	%		0.190			47.5	%
Return of capital		-			0.0	%		0.004			1.4	%		0.000			0.0	%
Total	$	0.373	(2)		100.0	%	$	0.280	(3)		100.0	%	$	0.400	(3)		100.0	%

(1)

Represents amounts treated as “qualified REIT dividends” for purposes of Internal Revenue Code Section 199A.

(2)

Dividends declared in the fourth quarter of the year ended December 31, 2022 of $0.0775 per share, that was paid in January 2023, was a split-year dividend with $0.070425 per share attributable to the year ended December 31, 2022 for federal income tax purposes and the remaining $0.007075 per share attributable to the year ended December 31, 2023.

(3)

Dividends declared in each of the fourth quarters of the years ended December 31, 2021 and 2020 of $0.07 per share, that were paid in January of the subsequent years, were attributable to the years in which they were paid, for federal income tax purposes.