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Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023, 2022 and 2021.



	For the Year Ended December 31,
(Amounts in thousands)	2023			2022			2021
Net loss attributable to Paramount Group, Inc.	$	(259,744	)	$	(36,403	)	$	(20,354	)
Book to tax differences:
Straight-lining of rents and amortization of above and below-market leases, net		6,832			(5,780	)		3,082
Depreciation and amortization		39,037			54,892			62,218
Stock-based compensation		19,052			17,607			16,933
Deferred compensation plan		-			-			(28,793	)	(1)
Our share of real estate impairment losses of unconsolidated joint ventures		226,230			31,685			-
Other, net		3,014			20,352			27,476
Estimated taxable income	$	34,421		$	82,353		$	60,562

(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, 2023, 2022 and 2021.


	For the Year Ended December 31,
	2023						2022						2021
	Amount			%			Amount			%			Amount			%
Ordinary income	$	0.158	(1)		89.3	%	$	0.373	(1)		100.0	%	$	0.253	(1)		90.4	%
Long-term capital gain		-			0.0	%		-			0.0	%		0.023			8.2	%
Return of capital		0.019			10.7	%		-			0.0	%		0.004			1.4	%
Total	$	0.177	(2)		100.0	%	$	0.373	(3)		100.0	%	$	0.280	(4)		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, 2023 of $0.035 per share, that were paid in January 2024, were attributable to the year ending December 31, 2024 for federal income tax purposes.

(3)

Dividends declared in the fourth quarter of the year ended December 31, 2022 of $0.0775 per share, that were paid in January 2023, were 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.

(4)

Dividends declared in the fourth quarter of the year ended December 31, 2021 of $0.07 per share, that were paid in January 2022, were attributable to the year ended December 31, 2022 for federal income tax purposes.