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Capital structure and noncontrolling interests (Tables) | 6 Months Ended
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Jun. 30, 2024
Noncontrolling Interest [Abstract] |
Schedule of Capital Units | A summary of these ownership interests as of June 30, 2024 and December 31, 2023 is as follows:
| June 30, 2024 |  | December 31, 2023
Class A units owned by Lineage, Inc. | 161,749,791 |  |  | 162,017,515 |
Class A & B units owned by Non-Company LPs | 19,709,540 |  |  | 18,829,959 |
Redeemable Class A units owned by Non-Company LPs | 319,006 |  |  | 1,260,182 |
Total | 181,778,337 |  |  | 182,107,656 |
Schedule of Ownership Interests | Third parties own the following interests in the below Other Consolidated Subsidiaries:
| June 30, 2024 |  | December 31, 2023
Cool Port Oakland Holdings, LLC | 13.3 | % |  | 13.3 | %
Lineage Jiuheng Logistics (HK) Group Company Ltd. | 40.0 | % |  | 40.0 | %
Kloosterboer BLG Coldstore GmbH | 49.0 | % |  | 49.0 | %
Turvo India Pvt. Ltd. | 1.0 | % |  | 1.0 | %
Redeemable Noncontrolling Interest | Below is a summary of all activity for the Company’s redeemable noncontrolling interests during the six months ended June 30, 2024 and 2023, which are discussed in further detail above.
(in millions) | Redeemable Noncontrolling Interests - Operating Partnership Units |  | Convertible Redeemable Noncontrolling Interests - Preference Shares |  | Redeemable Noncontrolling Interest - Operating Subsidiaries |  | Total Redeemable Noncontrolling Interests
Balance as of December 31, 2023 | $ | 120 |  |  | $ | 221 |  |  | $ | 8 |  |  | $ | 349 |
Distributions | (1) |  |  | — |  |  | — |  |  | (1) |
Redemption of redeemable noncontrolling interests | (6) |  |  | — |  |  | — |  |  | (6) |
Expiration of redemption option | (92) |  |  | — |  |  | — |  |  | (92) |
Accretion of redeemable noncontrolling interests | 6 |  |  | — |  |  | — |  |  | 6 |
Balance as of March 31, 2024 | $ | 27 |  |  | $ | 221 |  |  | $ | 8 |  |  | $ | 256 |
Redeemable noncontrolling interest adjustment | — |  |  | 4 |  |  | — |  |  | 4 |
Accretion of redeemable noncontrolling interests | 1 |  |  | — |  |  | 1 |  |  | 2 |
Balance as of June 30, 2024 | $ | 28 |  |  | $ | 225 |  |  | $ | 9 |  |  | $ | 262 |
(in millions) | Redeemable Noncontrolling Interests - Operating Partnership Units |  | Convertible Redeemable Noncontrolling Interests - Preference Shares |  |  |  | Total Redeemable Noncontrolling Interests
Balance as of December 31, 2022 | $ | 85 |  |  | $ | 213 |  |  |  |  | $ | 298 |
Redeemable noncontrolling interest adjustment | — |  |  | 4 |  |  |  |  | 4 |
Accretion of redeemable noncontrolling interests | 9 |  |  | — |  |  |  |  | 9 |
Balance as of March 31, 2023 | $ | 94 |  |  | $ | 217 |  |  |  |  | $ | 311 |
Accretion of redeemable noncontrolling interests | 9 |  |  | — |  |  |  |  | 9 |
Balance as of June 30, 2023 | $ | 103 |  |  | $ | 217 |  |  |  |  | $ | 320 |
Below is a summary of all activity for the Company’s noncontrolling interests during the six months ended June 30, 2024 and 2023, which are discussed in further detail above.
(in millions) | Operating Partnership Units - Class A, B, & C |  | Noncontrolling Interests in Other Consolidated Subsidiaries |  | Management Profits Interests Class C Units |  | Total Noncontrolling Interests
Balance as of December 31, 2023 | $ | 598 |  |  | $ | 15 |  |  | $ | 9 |  |  | $ | 622 |
Distributions | (11) |  |  | (1) |  |  | — |  |  | (12) |
Stock-based compensation | — |  |  | — |  |  | 2 |  |  | 2 |
Other comprehensive income (loss) | (8) |  |  | — |  |  | — |  |  | (8) |
Expiration of redemption option | 27 |  |  | — |  |  | — |  |  | 27 |
Net income (loss) | (5) |  |  | 1 |  |  | (4) |  |  | (8) |
Reallocation of noncontrolling interests | 7 |  |  | — |  |  | — |  |  | 7 |
Balance as of March 31, 2024 | $ | 608 |  |  | $ | 15 |  |  | $ | 7 |  |  | $ | 630 |
Distributions | (12) |  |  | — |  |  | — |  |  | (12) |
Stock-based compensation | — |  |  | — |  |  | 2 |  |  | 2 |
Other comprehensive income (loss) | (3) |  |  | — |  |  | — |  |  | (3) |
Net income (loss) | (8) |  |  | — |  |  | (4) |  |  | (12) |
Reallocation of noncontrolling interests | 9 |  |  | — |  |  | — |  |  | 9 |
Balance as of June 30, 2024 | $ | 594 |  |  | $ | 15 |  |  | $ | 5 |  |  | $ | 614 |
(in millions) | Operating Partnership Units - Class A, B, & C |  | Noncontrolling Interests in Other Consolidated Subsidiaries |  | Management Profits Interests Class C Units |  | Total Noncontrolling Interests
Balance as of December 31, 2022 | $ | 608 |  |  | $ | 21 |  |  | $ | 12 |  |  | $ | 641 |
Contributions from noncontrolling interests | 2 |  |  | — |  |  | — |  |  | 2 |
Distributions | (12) |  |  | — |  |  | — |  |  | (12) |
Stock-based compensation | — |  |  | — |  |  | 2 |  |  | 2 |
Other comprehensive income (loss) | (1) |  |  | — |  |  | — |  |  | (1) |
Redemption of units issued as stock compensation | — |  |  | — |  |  | (1) |  |  | (1) |
Net income (loss) | 2 |  |  | — |  |  | (1) |  |  | 1 |
Reallocation of noncontrolling interests | 19 |  |  | — |  |  | — |  |  | 19 |
Balance as of March 31, 2023 | $ | 618 |  |  | $ | 21 |  |  | $ | 12 |  |  | $ | 651 |
Distributions | (12) |  |  | — |  |  | — |  |  | (12) |
Stock-based compensation | — |  |  | — |  |  | 2 |  |  | 2 |
Other comprehensive income (loss) | 4 |  |  | — |  |  | — |  |  | 4 |
Net income (loss) | — |  |  | (1) |  |  | (2) |  |  | (3) |
Reallocation of noncontrolling interests | 11 |  |  | — |  |  | — |  |  | 11 |
Balance as of June 30, 2023 | $ | 621 |  |  | $ | 20 |  |  | $ | 12 |  |  | $ | 653 |

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