Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Equity

v3.22.4
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Previously Reported
Revision of Prior Period, Adjustment
Total PS Business Parks, Inc.'s Stockholders' Equity
Total PS Business Parks, Inc.'s Stockholders' Equity
Previously Reported
Total PS Business Parks, Inc.'s Stockholders' Equity
Revision of Prior Period, Adjustment
Preferred Stock
Preferred Stock
Previously Reported
Preferred Stock
Revision of Prior Period, Adjustment
Common Stock
Common Stock
Previously Reported
Common Stock
Revision of Prior Period, Adjustment
Paid-in Capital
Paid-in Capital
Previously Reported
Paid-in Capital
Revision of Prior Period, Adjustment
Accumulated Earnings (Deficit)
Accumulated Earnings (Deficit)
Previously Reported
Accumulated Earnings (Deficit)
Revision of Prior Period, Adjustment
Noncontrolling Interest
Noncontrolling Interest
Previously Reported
Noncontrolling Interest
Revision of Prior Period, Adjustment
Beginning balance (in shares) at Dec. 31, 2019             37,790                            
Beginning balance (in shares) at Dec. 31, 2019                   27,440,953                      
Beginning balance at Dec. 31, 2019 $ 1,961,811     $ 1,745,676     $ 944,750     $ 274     $ 736,986     $ 63,666     $ 216,135    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Issuance of common stock in connection with share-based compensation (in shares)                   47,594                      
Issuance of common stock in connection with share-based compensation 258     258           $ 0     258                
Stock compensation, net 4,994     4,994                 4,994                
Cash paid for taxes in lieu of stock upon vesting of restricted stock units (4,216)     (4,216)                 (4,216)                
Noncontrolling interests - contribution 493                                   493    
Distributions                                          
Preferred stock (48,186)     (48,186)                       (48,186)          
Common stock (115,396)     (115,396)                       (115,396)          
Noncontrolling interests (30,823)                                   (30,823)    
Net income (loss) 206,705     173,547                       173,547     33,158    
Ending balance (in shares) at Dec. 31, 2020             37,790                            
Ending balance at Dec. 31, 2020 1,975,640     1,756,677     $ 944,750     $ 274     738,022     73,631     218,963    
Ending balance (in shares) at Dec. 31, 2020                   27,488,547                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Redemption of shares (in shares)             (7,590)                            
Redemption of shares     $ (189,750)     $ (189,750) $ (189,750)               $ 6,434     $ (6,434)      
Issuance cost (105)     (105)                 (105)                
Issuance of common stock in connection with share-based compensation (in shares)                   101,260                      
Issuance of common stock in connection with share-based compensation 5,012     5,012           $ 1     5,011                
Stock compensation, net 7,022     7,022                 7,022                
Cash paid for taxes in lieu of stock upon vesting of restricted stock units (3,940)     (3,940)                 (3,940)                
Noncontrolling interests - contribution 746                                   746    
Distributions                                          
Preferred stock (46,624)     (46,624)                       (46,624)          
Common stock (242,595)     (242,595)                       (242,595)          
Noncontrolling interests (64,364)                                   (64,364)    
Net income (loss) $ 553,029     448,759                       448,759     104,270    
Ending balance (in shares) at Dec. 31, 2021 30,200           30,200                            
Ending balance at Dec. 31, 2021 $ 1,994,071     1,734,456     $ 755,000     $ 275     752,444     226,737     259,615    
Ending balance (in shares) at Dec. 31, 2021 27,589,807                 27,589,807                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Issuance cost $ 176     176                 176                
Issuance of common stock in connection with share-based compensation (in shares)                   41,692                      
Issuance of common stock in connection with share-based compensation 2,102     2,102           $ 1     2,101                
Stock compensation, net 3,028     3,028                 3,028                
Cash paid for taxes in lieu of stock upon vesting of restricted stock units (1,318)     (1,318)                 (1,318)                
Noncontrolling interests - contribution 492                                   492    
Distributions                                          
Preferred stock (19,160)     (19,160)                       (19,160)          
Common stock (209,079)     (209,079)                       (209,079)          
Noncontrolling interests (55,358)                                   (55,358)    
Net income (loss) 159,190     129,966                       129,966     29,224    
Ending balance (in shares) at Jul. 19, 2022 [1]             30,200                            
Ending balance at Jul. 19, 2022 [1] $ 1,874,144     1,640,171     $ 755,000     $ 276     756,431     128,464     233,973    
Ending balance (in shares) at Jul. 19, 2022 [1]                   27,631,499                      
Beginning balance (in shares) at Dec. 31, 2021 30,200           30,200                            
Beginning balance (in shares) at Dec. 31, 2021 27,589,807                 27,589,807                      
Beginning balance at Dec. 31, 2021 $ 1,994,071     1,734,456     $ 755,000     $ 275     752,444     226,737     259,615    
Ending balance (in shares) at Dec. 31, 2022 8,886           8,886                            
Ending balance at Dec. 31, 2022 $ 1,834,552     1,823,082     $ 164,352     $ 0     3,174,135     (1,515,405)     11,470    
Ending balance (in shares) at Dec. 31, 2022 100                 100                      
Beginning balance (in shares) at Jul. 19, 2022 [1]             30,200                            
Beginning balance (in shares) at Jul. 19, 2022 [1]                   27,631,499                      
Beginning balance at Jul. 19, 2022 [1] $ 1,874,144     1,640,171     $ 755,000     $ 276     756,431     128,464     233,973    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Total Blackstone purchase and contribution     2,847,170     2,847,170                 2,847,170            
Redemption of shares (in shares)                       (27,631,499)                  
Redemption of shares     (5,035,841)     (5,035,841)           $ (276)     (756,431)     (4,279,134)      
Application of purchase accounting (in shares)                 30,200     27,631,499                  
Application of purchase accounting     6,907,571     5,598,867     $ 563,026     $ 276     756,431     4,279,134     $ 1,308,704
Distribution of assets     (1,295,217)                                   $ (1,295,217)
Parent Partners Loans receivable     (1,285,575)     (1,285,575)                       (1,285,575)      
Ending balance (in shares) at Jul. 20, 2022             30,200 0                          
Ending balance at Jul. 20, 2022 2,138,108 $ 0   2,124,621 $ 0   $ 563,026 $ 0   $ 0 $ 0   2,847,170 $ 0   (1,285,575) $ 0   13,487 $ 0  
Ending balance (in shares) at Jul. 20, 2022                   0 0                    
Beginning balance (in shares) at Jul. 19, 2022 [1]             30,200                            
Beginning balance (in shares) at Jul. 19, 2022 [1]                   27,631,499                      
Beginning balance at Jul. 19, 2022 [1] 1,874,144     1,640,171     $ 755,000     $ 276     756,431     128,464     233,973    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Redemption of shares (in shares)             (21,439)                            
Redemption of shares     $ (108)     $ (108) $ (399,174)               $ 322,607     $ 76,459      
Blackstone contribution 4,358     4,358                 4,358                
Issuance of preferred stock, net of costs (in shares)             125     100                      
Issuance of stock, net of costs 500     500     $ 500                            
Noncontrolling interests - contribution 289                                   289    
Distributions                                          
Preferred stock (19,186)     (19,186)                       (19,186)          
Distributions, Adjustments From Acquisitions (112,379)     (112,379)                       (112,379)          
Noncontrolling interests (2,012)                                   (2,012)    
Net income (loss) $ (175,018)     (174,724)                       (174,724)     (294)    
Ending balance (in shares) at Dec. 31, 2022 8,886           8,886                            
Ending balance at Dec. 31, 2022 $ 1,834,552     $ 1,823,082     $ 164,352     $ 0     $ 3,174,135     $ (1,515,405)     $ 11,470    
Ending balance (in shares) at Dec. 31, 2022 100                 100                      
[1] This balance was reset as part of purchase accounting. Refer to Note 2 — Summary of Significant Accounting Policies for additional details.The accompanying notes are an integral part of these Consolidated Financial Statements.