Paramount group, inc. (PGRE)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Cash Flows from Operating Activities:
Net income

-31,377

-29,603

31,769

65,030

23,278

18,993

3,166

-66,498

108,262

107,176

111,585

141,457

11,185

2,069

24,957

29,845

25,083

21,143

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Straight-lining of rental revenue

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

258,225

262,435

264,340

268,201

266,037

259,118

258,979

257,630

269,450

279,441

283,719

295,853

294,624

0

0

0

Straight-lining of rental revenue

-

-

-

-

-

59,061

56,595

52,315

47,550

54,453

58,254

70,147

82,846

82,568

87,506

82,022

73,397

69,522

0

0

0

Amortization of stock-based compensation expense

20,655

22,860

22,260

21,416

20,983

19,646

19,475

18,970

18,758

15,922

14,204

12,962

11,080

11,278

9,851

9,087

7,901

7,309

0

0

0

Amortization of above and below-market leases, net

-

-

-

-

-

-16,059

-17,970

-17,258

-20,935

-19,523

-17,107

-17,044

-16,163

-9,536

-13,271

-11,636

-5,408

-9,917

0

0

0

Loss from unconsolidated joint ventures

-7,900

-4,706

-2,278

-474

2,503

3,468

3,973

4,172

18,186

20,185

21,265

22,386

7,854

7,413

7,697

7,363

7,371

6,850

0

0

0

Realized and unrealized gains on real estate fund investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21,201

0

0

0

Distributions of earnings from unconsolidated joint ventures

4,465

4,067

4,149

7,017

6,144

6,207

7,230

4,112

6,276

5,700

5,677

6,015

6,561

8,121

7,707

7,856

6,216

4,985

0

0

0

Amortization of deferred financing costs

18,840

19,323

11,206

11,134

11,063

11,023

11,088

11,155

11,219

11,188

11,050

9,689

8,276

6,804

4,932

4,058

3,239

2,565

0

0

0

Realized and unrealized losses (gains) on marketable securities

-1,052

3,027

-11

871

305

-1,604

2,268

2,177

3,028

4,664

3,351

3,292

2,394

494

1,309

-1,355

-1,084

-119

0

0

0

Amortization of above and below-market leases, net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-7,877

0

0

0

-

-

-

-

-

-

-

-

Income from unconsolidated real estate funds

-337

-343

270

-124

-157

-269

-358

-4,100

-6,497

-6,143

-4,011

-1,335

116

-498

0

0

0

-

-

-

-

Distributions of earnings from unconsolidated real estate funds

731

1,553

1,386

1,332

1,273

330

299

331

348

342

359

338

375

392

0

0

0

-

-

-

-

Receipt of accrued interest on preferred equity investment

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash adjustments

467

961

173

91

372

-288

-942

261

53

470

2,119

160

91

-966

-2,705

-3,095

-4,867

-5,824

0

0

0

Unrealized gain on interest rate swaps

-

-

-

-

-

-

-

-

-

1,802

11,955

24,683

34,756

39,814

55,924

58,968

70,642

75,760

0

0

0

Changes in operating assets and liabilities:
Real estate fund investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

127,743

0

0

0

Accounts and other receivables

-2,310

-845

4,195

4,146

3,100

2,994

2,383

2,569

3,641

1,000

806

1,254

472

4,521

-14

3,056

-657

3,152

0

0

0

Deferred charges

24,848

23,029

27,844

26,593

30,004

31,861

28,503

32,732

31,068

33,295

29,864

22,833

18,738

15,701

33,022

35,152

38,582

40,510

0

0

0

Other assets

1,765

-57,318

105

61,600

181

57,216

2,811

-1,039

2,114

-10,243

-9,207

-199

-323

12,037

11,432

1,198

-84

-6,465

0

0

0

Accounts payable and accrued expenses

-13,424

-8,949

-1,957

-9,390

-3,669

4,200

17,715

22,859

19,985

6,305

4,104

-58,715

-58,895

11,479

-1,144

56,420

64,795

-6,152

0

0

0

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,006

2,413

1,364

328

0

0

0

Other liabilities

-490

2,388

-4,368

-1,987

-2,701

-2,758

4,848

3,118

-18,768

2,971

4,549

4,056

25,818

4,702

1,486

245

382

1,151

0

0

0

Net cash provided by operating activities

217,950

285,441

229,002

156,825

215,405

156,523

222,208

217,630

184,964

190,111

180,206

95,299

106,960

148,283

-5,018

52,700

65,753

-16,950

0

0

0

Cash Flows from Investing Activities:
Repayment of amounts due from affiliates

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due from affiliates

-

217,918

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to real estate

106,432

103,916

122,388

137,071

140,446

137,915

112,800

104,965

96,760

86,434

84,496

91,925

114,580

132,686

0

0

0

-

-

-

-

Purchases of marketable securities

16,851

15,232

18,772

16,746

22,782

20,019

14,307

35,158

26,823

29,248

0

0

0

-

-

-

-

-

-

-

-

Sales of marketable securities

20,930

19,282

24,180

19,948

20,101

24,794

17,758

32,971

30,471

27,261

0

0

0

-

-

-

-

-

-

-

-

Acquisitions of, and additions to, rental properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Changes in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-10,515

-

0

0

0

Contributions of capital to unconsolidated real estate funds

6,837

3,937

5,385

1,768

3,658

3,779

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Distributions of capital from unconsolidated real estate funds

-

2,076

0

0

0

-

-

-

-

14,584

0

0

0

-

-

-

-

-

-

-

-

Investments in and contributions of capital to unconsolidated joint ventures

-

368,852

153,288

65,271

63,007

29,883

25,396

17,137

17,049

28,791

0

0

0

-

-

-

-

-

-

-

-

Redemption of preferred equity investment

-

33,750

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Escrow deposits and loans receivable for Residential Development Fund

-

-

-

-

-

15,680

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Distributions of capital from unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by (used in) investing activities

-266,680

-323,440

-124,904

-19,414

153,310

156,610

197,069

-277,352

283,100

295,731

-183,720

-99,207

-659,579

-652,658

-161,053

-138,304

-122,807

-109,340

0

0

0

Cash Flows from Financing Activities:
Repayments of notes and mortgages payable

-

-

-

-

-

-

-

-

-

1,044,821

1,319,526

1,319,888

1,562,557

689,269

1,341,173

1,341,157

927,650

927,633

0

0

0

Borrowings under revolving credit facility

0

-

-

-

-

-

-

-

-

60,000

290,000

340,000

335,000

340,000

0

0

0

-

-

-

-

Repayment of borrowings under revolving credit facility

-

-

-

-

-

-

-

-

-

290,000

340,000

360,000

175,000

130,000

0

0

0

-

-

-

-

Repurchases of common shares

0

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Dividends paid to common stockholders

92,425

93,038

94,290

94,903

95,506

94,991

93,751

92,336

90,266

89,276

87,333

85,547

83,805

82,105

81,390

80,691

53,549

68,723

0

0

0

Distributions paid to common unitholders

-

-

-

-

-

-

-

-

-

-

13,388

15,114

16,795

18,412

0

0

0

-

-

-

-

Distributions paid to common unitholders

10,039

10,073

10,111

10,166

10,240

10,064

-96,531

-90,713

-18,138

11,504

0

0

0

-

-

-

-

56,636

0

0

0

Repayment of note payable issued in connection with the acquisition of noncontrolling interest in consolidated real estate fund

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to noncontrolling interests

17,634

45,239

47,638

48,985

47,046

18,184

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Contributions from noncontrolling interests

8,548

14,989

15,724

23,954

29,692

45,116

44,381

127,627

123,225

100,777

0

0

0

-

-

-

-

167,929

0

0

0

Proceeds from notes and mortgages payable

0

-

-

-

-

16,700

16,700

16,700

16,700

991,556

0

0

0

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

7,877

0

0

0

-

-

-

-

-

-

-

-

Repurchase of shares related to stock compensation agreements and related tax withholdings

332

324

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Settlement of interest rate swap liabilities

-

-

-

-

-

-

-

-

-

19,425

0

0

0

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

86,511

4,077

-350,287

-97,317

-253,823

-198,149

-66,998

28,860

-423,417

-427,756

95,758

34,743

533,007

518,994

-174,661

-133,913

-151,032

-182,330

0

0

0

Net increase (decrease) in cash and cash equivalents and restricted cash

37,781

-33,922

-246,189

40,094

114,892

114,984

352,279

-30,862

44,647

58,086

92,244

30,835

-19,612

14,619

-340,732

-219,517

-208,086

-308,620

0

0

0

Decrease in cash due to deconsolidation of real estate fund investments

-

-

-

-

-

-

-

-

-

-

-

-

-

7,987

0

0

0

-

-

-

-

Supplemental Disclosure of Cash Flow Information:
Cash payments for interest

139,823

139,130

139,079

138,486

137,154

136,452

127,619

125,911

124,156

132,361

140,827

144,971

147,403

140,111

145,923

149,283

156,083

159,186

0

0

0

Cash payments for income taxes, net of refunds

1,569

2,474

4,557

4,403

5,230

4,049

1,547

3,556

4,257

5,048

5,613

3,967

2,768

2,095

2,354

2,904

3,183

2,798

0

0

0

Non-Cash Transactions:
Common shares issued upon redemption of common units

87,359

24,030

24,006

26,982

25,320

3,461

9,665

37,238

151,035

172,728

352,639

324,137

319,646

312,257

0

0

0

-

-

-

-

Dividends and distributions declared but not yet paid

23,648

25,255

24,613

25,234

25,224

25,902

26,596

26,621

26,631

25,211

25,211

25,211

25,211

25,151

0

0

0

-

-

-

-

Additions to real estate included in accounts payable and accrued expenses

20,814

21,566

424

27,842

22,168

19,872

32,217

11,825

19,035

10,413

16,481

10,414

5,752

12,104

26,590

28,430

40,169

32,009

0

0

0

Real estate fund investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Loans payable to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Investments in unconsolidated real estate funds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Noncontrolling interests in consolidated real estate funds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Purchases of marketable securities using restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,866

-

0

0

0

Write-off of fully amortized and/or depreciated assets

10,943

8,727

6,309

4,598

5,386

4,158

6,867

7,701

7,728

9,684

8,914

10,982

10,942

11,431

0

0

0

-

-

-

0

Change in value of interest rate swaps

-

28,069

44,967

-3,248

16,304

-7,273

-33,627

9,737

-21,137

-10,618

-42,702

-49,784

-42,060

-8,161

0

0

0

-

-

-

-

Basis adjustment to investment in unconsolidated joint ventures upon adoption of ASU 2017-05

-

-

-

-

-

7,086

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-