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Redeemable Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2024

Redeemable Noncontrolling Interests

Summary of redeemable noncontrolling interests


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

		(In thousands)
Balance, beginning of period		$	436,673		$	455,886		$	—		$	455,886
Redemptions			(3,553)			(7,602)			—			(7,602)
Net loss			(4,365)			(7,926)			—			(7,926)
Other comprehensive income (loss)			(5,595)			1,346			—			1,346
Distributions			(2,874)			(3,727)			—			(3,727)
Share-based compensation expense			4,424			6,003			—			6,003
Adjustment to redemption value			20,235			381			—			381
Balance, end of period		$	444,945		$	444,361		$	—		$	444,361

		Nine Months Ended September 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			(13,769)			(33,110)			(647)			(33,757)
LTIP Units issued in lieu of cash compensation ⁽¹⁾			3,836			5,213			—			5,213
Net loss			(12,353)			(5,961)			—			(5,961)
Other comprehensive income (loss)			(4,003)			902			—			902
Distributions			(8,714)			(7,654)			—			(7,654)
Share-based compensation expense			24,287			25,152			—			25,152
Adjustment to redemption value			14,924			(20,844)			—			(20,844)
Balance, end of period		$	444,945		$	444,361		$	—		$	444,361

(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%.