XML 94 R87.htm IDEA: XBRL DOCUMENT v3.25.2
Segments - Schedule of Paramount's Share of Net Operating Income for Each Reportable Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Property-related revenues $ 172,825 $ 183,104 $ 354,819 $ 365,733
Less property-related operating expenses:        
Real estate related taxes (37,837) (37,873) (76,705) (74,424)
Other operating expenses [1] (37,047) (36,319) (76,229) (71,508)
NOI attributable to noncontrolling interests in consolidated joint ventures (20,616) (23,901) (42,699) (46,809)
NOI from unconsolidated joint ventures 5,036 5,625 9,963 11,227
Paramount's share of NOI [2] 82,361 90,636 169,149 184,219
New York [Member]        
Segment Reporting Information [Line Items]        
Property-related revenues 109,290 113,482 223,857 231,286
Less property-related operating expenses:        
Real estate related taxes (29,065) (28,875) (58,856) (57,751)
Other operating expenses [1] (22,046) (22,191) (48,081) (43,629)
NOI attributable to noncontrolling interests in consolidated joint ventures (3,462) (2,500) (6,708) (5,176)
NOI from unconsolidated joint ventures 3,306 3,480 6,464 7,035
Paramount's share of NOI [2] 58,023 63,396 116,676 131,765
San Francisco [Member]        
Segment Reporting Information [Line Items]        
Property-related revenues 62,953 69,624 129,941 134,814
Less property-related operating expenses:        
Real estate related taxes (8,772) (8,998) (17,849) (16,673)
Other operating expenses [1] (12,605) (13,130) (23,567) (26,220)
NOI attributable to noncontrolling interests in consolidated joint ventures (17,154) (21,401) (35,991) (41,633)
NOI from unconsolidated joint ventures 1,680 2,063 3,390 4,110
Paramount's share of NOI [2] 26,102 28,158 55,924 54,398
Other [Member]        
Segment Reporting Information [Line Items]        
Property-related revenues 582 (2) 1,021 (367)
Less property-related operating expenses:        
Real estate related taxes 0 0 0 0
Other operating expenses [1] (2,396) (998) (4,581) (1,659)
NOI attributable to noncontrolling interests in consolidated joint ventures 0 0 0 0
NOI from unconsolidated joint ventures 50 82 109 82
Paramount's share of NOI [2] $ (1,764) $ (918) $ (3,451) $ (1,944)
[1] Primarily comprised of cleaning, security, repairs and maintenance, and utilities.
[2] NOI is used to measure the operating performance of our properties. NOI consists of rental revenue (which includes property rentals, tenant reimbursements and lease termination income) and certain other property-related revenue less operating expenses (which includes property-related expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We present Paramount’s share of NOI which represents our share of NOI of consolidated and unconsolidated joint ventures, based on our percentage ownership in the underlying assets. We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI and, accordingly, our presentation of NOI may not be comparable to other real estate companies.