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Redeemable Noncontrolling Interests in Operating Partnership (Tables) | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Common units converted to stock |  | — |  |  | — |  |  | — |  |  | 1 |  |  |
Fair value of common units converted |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 41 |  |  |
The following table presents the redeemable noncontrolling interest in Ashford Trust and the corresponding approximate ownership percentage:
| September 30, 2022 |  | December 31, 2021
Redeemable noncontrolling interests (in thousands) | $ | 21,988 |  |  | $ | 22,742 |
Cumulative adjustments to redeemable noncontrolling interests (1) (in thousands) | 184,796 |  |  | 186,756 |
Ownership percentage of operating partnership | 0.91 | % |  | 0.63 | %
____________________________________ (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 September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Allocated net (income) loss to the redeemable noncontrolling interests | $ | 231 |  |  | $ | 367 |  |  | $ | 679 |  |  | $ | 3,594 |  |  |
Performance LTIP dividend claw back upon cancellation | — |  |  | — |  |  | — |  |  | (454) |  |  |

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- Definition 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. + References No definition available. + Details
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