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Redeemable Noncontrolling Interests in Operating Partnership (Tables)

6 Months Ended

Jun. 30, 2022

Noncontrolling Interest [Abstract]

Schedules of Redeemable Noncontrolling Interest

The following table presents the common units redeemed and the fair value upon redemption (in thousands):

						Three Months Ended June 30,												Six Months Ended June 30,
						2022						2021						2022						2021
Common units converted to stock						—						1						—						1
Fair value of common units converted						$	—					$	41					$	—					$	41

The following table presents the redeemable noncontrolling interest in Ashford Trust and the corresponding approximate ownership percentage:

			June 30, 2022						December 31, 2021
Redeemable noncontrolling interests (in thousands)			$	21,308					$	22,742
Cumulative adjustments to redeemable noncontrolling interests (1) (in thousands)			184,329						186,756
Ownership percentage of operating partnership			0.81		%				0.63		%

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(1)    Reflects the excess of the redemption value over the accumulated historical costs.

We allocated net (income) loss to the redeemable noncontrolling interests and declared aggregate cash distributions to holders of common units and holders of LTIP units, as presented in the table below (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2022						2021						2022						2021
Allocated net (income) loss to the redeemable noncontrolling interests			$	76					$	956					$	448					$	3,227
Performance LTIP dividend claw back upon cancellation			—						—						—						(454)

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Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

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