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Redeemable Noncontrolling Interests (Tables)

6 Months Ended

Jun. 30, 2024

Redeemable Noncontrolling Interests

Summary of redeemable noncontrolling interests


		Three Months Ended June 30,
		2024			2023
								Consolidated
		JBG			JBG			Real Estate
		SMITH LP			SMITH LP			Venture			Total

		(In thousands)
Balance, beginning of period		$	435,529		$	457,778		$	—		$	457,778
Redemptions			(2,341)			(11,726)			—			(11,726)
LTIP Units issued in lieu of cash compensation ⁽¹⁾			854			757			—			757
Net loss			(3,454)			(1,398)			—			(1,398)
Other comprehensive income (loss)			(434)			1,781			—			1,781
Distributions			(2,910)			(3,927)			—			(3,927)
Share-based compensation expense			10,913			9,606			—			9,606
Adjustment to redemption value			(1,484)			3,015			—			3,015
Balance, end of period		$	436,673		$	455,886		$	—		$	455,886

		Six Months Ended June 30,
		2024			2023
								Consolidated
		JBG			JBG			Real Estate
		SMITH LP			SMITH LP			Venture ⁽²⁾			Total

		(In thousands)
Balance, beginning of period		$	440,737		$	480,663		$	647		$	481,310
Redemptions			(10,216)			(25,508)			(647)			(26,155)
LTIP Units issued in lieu of cash compensation ⁽¹⁾			3,836			5,213			—			5,213
Net income (loss)			(7,988)			1,965			—			1,965
Other comprehensive income (loss)			1,592			(444)			—			(444)
Distributions			(5,840)			(3,927)			—			(3,927)
Share-based compensation expense			19,863			19,149			—			19,149
Adjustment to redemption value			(5,311)			(21,225)			—			(21,225)
Balance, end of period		$	436,673		$	455,886		$	—		$	455,886

(1)	See Note 11 for additional information.

(2)	As of December 31, 2022, we held a 99.7% ownership interest in a real estate venture that owned The Wren, a multifamily asset. In February 2023, the partner redeemed its 0.3% interest, increasing our ownership interest to 100.0%.